Study: Immigrants Founded 51% of U.S. Billion-Dollar Startups

These are not the downtrodden masses. Immigrant does not mean poor. These are wealthy upper class people coming to the most logical place to create a successful technology company, because they can afford to do so. Poor people are usually stuck wherever they are.

Investors in Silicon Valley care a lot about status and pedigree. A foreigner that can afford elite credentials is far more likely to get funding than a poor local.

And of course H1B visas drive down wages. This is basic supply and demand.

Re: Study: Immigrants Founded 51% of U.S. Billion-Dollar Startups

#7

Post by pandaman » Fri, Mar 18, 2016, 2:03 AM UTC

The article is advocating for increasing H1-B caps. I wonder what does H1-B (a non-immigrant visa, which does not allow running your own business) has to do with immigrants founding billion dollar startups other than them using it to acquire cheap labor?

Re: Study: Immigrants Founded 51% of U.S. Billion-Dollar Startups

#8

Post by Kenji » Fri, Mar 18, 2016, 2:04 AM UTC

According to the study, Mr. Bansal couldn’t leave his job to start a new company because it was unclear if he’d be able to keep his H-1B status.

For 7 years. What a lock-in. And during that time, your employer can probably abuse you and freeze your salary, knowing exactly that your stay depends on that visa and you have a hard time leaving.

Another point on immigrants. The US does it right: It causes brain-drain in other countries and actually takes in skilled workers. I can guarantee you that the kind of mass immigration central Europe is experiencing right now won't lead to an array of startups.

Re: Study: Immigrants Founded 51% of U.S. Billion-Dollar Startups

#9

Post by Dr_tldr » Fri, Mar 18, 2016, 2:05 AM UTC

It's no secret that the continuing economic dominance of the US is not due to a post-WW2 windfall or the unique capabilities of Americans, but more to the ability of the US to attract and retain the very best, and then subsequently give them unique opportunities.

Few nativists are opposed to the best and the brightest (and the already-wealthy) coming to the US in very, very small numbers, but what they don't realize is that it's pretty much impossible to tell in advance who's going to be a winning lottery ticket.

Re: Study: Immigrants Founded 51% of U.S. Billion-Dollar Startups

#10

Post by ra1n85 » Fri, Mar 18, 2016, 2:06 AM UTC

staunch wrote: post #6

These are not the downtrodden masses. Immigrant does not mean poor. These are wealthy upper class people coming to the most logical place to create a successful technology company, because they can afford to do so. Poor people are usually stuck wherever they are. Investors in Silicon Valley care a lot about status and pedigree. A foreigner that can afford elite credentials is far more likely to get funding than a poo…

Are you sure H1B visas are relevant here? I would imagine EB-5 (investment) visas would be the more common route for upper class immigrant entrepreneurs coming to the US.