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Facebook and Google have been competing with each over more than just social networking. Facebook is growing from 300ish employees today to 700 next year. And the best place to get good engineers and others is Google, where many have already vested on their stock options and are looking for the next big hit.

Facebook has already claimed Youtube CFO Gideon Yu, eCommerce Product lead Benjamin Ling and GDrive developer Justin Rosenstein.

But Ex-Googler’s inside Facebook are saying that the problem goes further than a few high profile exits caused by vesting stock. Facebook just seems a hell of a lot “sexier” than Google (see Rosenstein’s exit email). A steady stream of Google employees are making the switch to Facebook, and competition for top college grads is fierce as well.

Senior VPs at Google have dubbed it “the Facebook problem” according to a number of sources. At least ten “top performers” have made the switch over the last two months. Ex-Googler’s expect to continue seeing at least two to four more leave for Facebook each month. That doesn’t sound like much, but Facebook is targeting the cream of the crop. The best Googler’s are being actively recruited, and many are leaving.

Our sources are also saying that Google has been aggressively countering Facebook offers with offers of stock units (GSUs). The options weren’t enough for one Google employee, who says he was getting promoted quickly and hitting huge bonuses with high priced stock. But he says “it’s not just about the money. Entrepreneurs want to work at the hottest place on earth and right now that’s Facebook.
Facebook and money????”