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> Someone living here starts off in a much better position than any foreign entrepreneur. This is an incredibly untrue statement.

by lghh 9y ago

TheAdamAndChe 9y ago
To expand upon this statement, social mobility has been on the decline[1] at a time when income inequality in the US is reaching unparalleled levels[2]. Childhood poverty is on the rise[3], and regional inequality is incredible[4]. All this is occurring at a time when the best and brightest young people are ending up with tens of thousands of dollars of debt just to be able to enter the workforce. All this is why small business creation is on the decline here.[5] It takes money to make money, and the lower and middle classes just don't have money to spare. edit: To those downvoting me, can you please explain? I don't understand the flaw(s) in my statement. [1] https://en.wikipedia.org/wiki/Socioeconomic_mobility_in_the_United_States https://en.wikipedia.org/wiki/Socioeconomic_mobility_in_the_... [2] https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States https://en.wikipedia.org/wiki/Income_inequality_in_the_Unite... [3] https://en.wikipedia.org/wiki/Poverty_in_the_United_States#Child_poverty https://en.wikipedia.org/wiki/Poverty_in_the_United_States#C... [4] https://www.brookings.edu/blog/the-avenue/2012/08/07/regional-inequality-and-the-new-geography-of-jobs/ https://www.brookings.edu/blog/the-avenue/2012/08/07/regiona... [5] http://money.cnn.com/2016/09/08/news/economy/us-startups-near-40-year-low/index.html http://money.cnn.com/2016/09/08/news/economy/us-startups-nea...
notyourday 9y ago
This is absolutely correct. If the 'foreign entrepreneur' is rich then he or she does not need VC help to immigrate into the United States. I know a few - it just requires being able to get in via O visa, which is easy for a rich person[1]. So this means that the foreign entrepreneur in question is not rich. A non-rich foreign entrepreneur is unlikely to have the kind of salary that allows one to throw money at the problem to make inconveniences of switching countries go away: 1. Establishing personal credit, bank accounts, dealing with financial institutions, insurance etc 2. Getting state issued drivers license and dealing with Government 3. Getting an apartment 4. Developing a quick understanding of good v. bad areas, social norms (poor person with terrible habits is an asshole. Rich person with the same habits is eccentric ), etc [1] Edit: In a response to the comment below - lets define "rich" as someone with a few million in assets with a million of that being liquid.
- htormey 9y ago
  For those not in the know, here is the definition of an O Visa is: "An O visa is a classification of non-immigrant temporary worker visa granted by the United States to an alien "who possesses extraordinary ability in the sciences, arts, education, business, or athletics, or who has a demonstrated record of extraordinary achievement in the motion picture or television industry and has been recognized nationally or internationally for those achievements," " https://en.wikipedia.org/wiki/O_visa https://en.wikipedia.org/wiki/O_visa I don't think this is quite as easy to obtain as the parent implies as you need to have a reputation & have money to pull it off. Not just any rich person will be able to do this without spending a bunch of time cultivating the former. The people I know who have gotten this visa had quite a long history of published (news papers, journals, etc) achievements. It was also very stressful for them as at any stage in the process the government could decide that their achievements were not significant enough and pull the plug on their application.

> Someone living here starts off in a much better position than any foreign entrepreneur. This is an incredibly untrue statement.

by lghh 9y ago

> Someone living here starts off in a much better position than any foreign entrepreneur. This is an incredibly untrue statement.

TheAdamAndChe 9y ago

To expand upon this statement, social mobility has been on the decline[1] at a time when income inequality in the US is reaching unparalleled levels[2]. Childhood poverty is on the rise[3], and regional inequality is incredible[4]. All this is occurring at a time when the best and brightest young people are ending up with tens of thousands of dollars of debt just to be able to enter the workforce. All this is why small business creation is on the decline here.[5] It takes money to make money, and the lower and middle classes just don't have money to spare. edit: To those downvoting me, can you please explain? I don't understand the flaw(s) in my statement. [1] https://en.wikipedia.org/wiki/Socioeconomic_mobility_in_the_United_States https://en.wikipedia.org/wiki/Socioeconomic_mobility_in_the_... [2] https://en.wikipedia.org/wiki/Income_inequality_in_the_United_States https://en.wikipedia.org/wiki/Income_inequality_in_the_Unite... [3] https://en.wikipedia.org/wiki/Poverty_in_the_United_States#Child_poverty https://en.wikipedia.org/wiki/Poverty_in_the_United_States#C... [4] https://www.brookings.edu/blog/the-avenue/2012/08/07/regional-inequality-and-the-new-geography-of-jobs/ https://www.brookings.edu/blog/the-avenue/2012/08/07/regiona... [5] http://money.cnn.com/2016/09/08/news/economy/us-startups-near-40-year-low/index.html http://money.cnn.com/2016/09/08/news/economy/us-startups-nea...

notyourday 9y ago

This is absolutely correct. If the 'foreign entrepreneur' is rich then he or she does not need VC help to immigrate into the United States. I know a few - it just requires being able to get in via O visa, which is easy for a rich person[1]. So this means that the foreign entrepreneur in question is not rich. A non-rich foreign entrepreneur is unlikely to have the kind of salary that allows one to throw money at the problem to make inconveniences of switching countries go away: 1. Establishing personal credit, bank accounts, dealing with financial institutions, insurance etc 2. Getting state issued drivers license and dealing with Government 3. Getting an apartment 4. Developing a quick understanding of good v. bad areas, social norms (poor person with terrible habits is an asshole. Rich person with the same habits is eccentric ), etc [1] Edit: In a response to the comment below - lets define "rich" as someone with a few million in assets with a million of that being liquid.

htormey 9y ago
For those not in the know, here is the definition of an O Visa is: "An O visa is a classification of non-immigrant temporary worker visa granted by the United States to an alien "who possesses extraordinary ability in the sciences, arts, education, business, or athletics, or who has a demonstrated record of extraordinary achievement in the motion picture or television industry and has been recognized nationally or internationally for those achievements," " https://en.wikipedia.org/wiki/O_visa https://en.wikipedia.org/wiki/O_visa I don't think this is quite as easy to obtain as the parent implies as you need to have a reputation & have money to pull it off. Not just any rich person will be able to do this without spending a bunch of time cultivating the former. The people I know who have gotten this visa had quite a long history of published (news papers, journals, etc) achievements. It was also very stressful for them as at any stage in the process the government could decide that their achievements were not significant enough and pull the plug on their application.