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Nearly Half of US Unicorns Have Foreign-Born Founders
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- ssz 2y agoThis isn't surprising to me since most of us upend our lives just to be in US, so we have more of an incentive to try harder to make it.
- jerlam 2y agoAnd people know that the US is friendlier to startups/business than other countries, so founders will come to the US. They didn't just happen to be here.
- 9rx 2y agoDoes the "I can always go back whence I came" also lower the perceived risk? If a domestically-born founder fails they aren't apt to have anywhere else they can go, thus having to stick around to deal with the fallout.
- netsharc 2y agoI can imagine the opposite "This place is so nice and I don't want to go back to what I perceive as a hellhole", and so they work harder to succeed.
- 9rx 2y agoA significant number of these founders are from Canada. It is not that much different from the USA. Canada is less business friendly, perhaps, but that isn't important after you've failed.
- linotype 2y agoAh yeah, if lazy Americans would just try harder, they’d be richer.
- s1artibartfast 2y agotons of studies show children of bottom income quintile immigrants have far more economic mobility than non-immigrants children in the bottom quintile, so there is something to it, even if it is not as simple as laziness.
- zelda420 2y agoHow many are h1b1?
- harshalizee 2y agoThe vast majority of foreign born founders and CEOs have come from the H1B or L1 programs (L1Bs tend to transition over to H1B most of the time unless they get their GC early). The ones with an easier avenue to acquire a GC do so before they become founders. If not, they tend to go with the transient H1B program, or move to another VISA that is more appropriate for entrepreneurs.
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- Imnimo 2y agoThe US is only 5% of global population, so this suggests we're leaving a lot of would-be unicorn founders on the table.
- archontes 2y agoDo you not think it would be more informative to look at the global percentage of people who are wealthy enough to take multiple bites of the unicorn apple?
- Imnimo 2y agoSomeone who is capable of building a unicorn company but cannot attempt it because they are too poor is still "left on the table".
- JumpCrisscross 2y ago> this suggests we're leaving a lot of would-be unicorn founders on the table A good fraction of Asia's unicorns came to the U.S. to be highly educated before being kicked out because our visa process is broken.
- claudiulodro 2y agoOf these, half of the founders came to the US for university[1] (25% of all unicorns). That would be a pretty wealthy or non-representative group to begin with, since international tuition is very expensive, no? As a whole, immigrants have higher poverty rates in the US than native-born residents[2], which is also an interesting data point to juxtapose with this. [1] https://www.forbes.com/sites/stuartanderson/2022/07/26/most-us-billion-dollar-startups-have-an-immigrant-founder/ https://www.forbes.com/sites/stuartanderson/2022/07/26/most-... [2] https://www.irp.wisc.edu/publications/focus/pdfs/foc262e.pdf https://www.irp.wisc.edu/publications/focus/pdfs/foc262e.pdf
- adarsh_p 2y agoAs I understand it, the tuition differential is only for public universities, not private ones. Private universities/colleges may cover the full financial need of international students if they cannot afford tuition. Source: I was an international student and got nearly a full ride to a private SLAC.
- bluesnews 2y agoMy understanding is that even in private universities, the magnitude of financial aid available is much less for international students because of the lack of government financing in many cases