because there is more opportunity oveseas now. India and China will each have more internet users than USA within a few years
Like Mint? Angry that you missed the boat? Good news! Invest overseas in the same type of company, and watch it grow to become a market leader by having a monopoly. And you have a guaranteed exit lined up, when Mint enters your market and decides to buy you out.
Sure the core innovation will still come from the states, but the first innovator is rarely the guy who profits from the idea.
Don't forget though, that the cultural gap between the US and Asia is much bigger than between the US and europe. It's quite likely that a successful US product can be made successful in europe by the same people. It's a different story when you move from US/Europe to India, Japan or even China.
The japanese Facebook (mixi.jp) looks quite different to the US and european variants. Not only in terms of aesthetics but also in many subtile usability and feature aspects.
This goes to support the point that, for the next while at least, "me too" business models WILL work in developing nations.