Day two of TechCrunch 50, and the TC50 Drinking Game is in full swing. So far, we’ve seen jokes made at the expense of Arrington, Jason alluding to his personal wealth and countless “great question”s. But disappointingly there has been no real controversy  either from the panel of experts or the startups.

Thank Calacanis, then, for The American flag.

TechCrunch50 may be organised and sponsored by Americans but one of the best things about it is that it attracts start-ups from around the globe. To my right, there’s a chap speaking in German to his colleague, yesterday an Indian startup – iMo – was the  darling of the day, and half of my friends from London seem to have made the journey across the Atlantic so they don’t miss out on the fun.

Each year there’s the inevitable criticism – even from conference judges like Yossi Vardi – that the event is weighted too heavily towards Silicon Valley. But, by and large, that geographical bias is just a natural result of the fact that Silicon Valley has the highest concentration of potential applicants, and also that it’s easier and cheaper to get the Caltrain from Palo Alto to get to the conference than it is to fly in from London, Lisbon or Bangalore. You could equally say that Le Web has a French bias or that DLD has a German bias.

And yet. And yet…

Read on at TechCrunch…