I work for a US-based startup with management in Boston and a dev team in Slovenia (EU) and I can only confirm the benefits (and the problems) that were pointed out in this article. Developers in Europe have a culture and work ethic similar to that in the US and working together with colleagues from across the ocean has never been a problem. A thing that helps a lot is having someone from Europe on the management team in the US and also sharing equity with some European members of the team. This creates a great atmosphere in the company because the EU team is not just "hired" by the US company, but we're actually all in it together, as a mixed team of Americans and Europeans pushing our business from both sides of the ocean.