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The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent
By Vivek Wadhwa and Alex Salkever
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A 2012 ECONOMIST BOOK OF THE YEAR
Many of the United States' most innovative entrepreneurs have been immigrants, from Andrew Carnegie, Alexander Graham Bell, and Charles Pfizer to Sergey Brin, Vinod Khosla, and Elon Musk. Nearly half of Fortune 500 companies and one-quarter of all new small businesses were founded by immigrants, generating trillions of dollars annually, employing millions of workers, and helping establish the United States as the most entrepreneurial, technologically advanced society on earth.
Now, Vivek Wadhwa, an immigrant tech entrepreneur turned academic with appointments at Duke, Stanford, Emory, and Singularity Universities, draws on his new Kauffman Foundation research to show that the United States is in the midst of an unprecedented halt in high-growth, immigrant-founded start-ups. He argues that increased competition from countries like China and India and US immigration policies are leaving some of the most educated and talented entrepreneurial immigrants with no choice but to take their innovation elsewhere. The consequences to our economy are dire; our multi-trillion dollar loss will be the gain of our global competitors.
With his signature fearlessness and clarity, Wadhwa offers a concise framework for understanding the Immigrant Exodus and offers a recipe for reversal and rapid recovery.
Many of the United States' most innovative entrepreneurs have been immigrants, from Andrew Carnegie, Alexander Graham Bell, and Charles Pfizer to Sergey Brin, Vinod Khosla, and Elon Musk. Nearly half of Fortune 500 companies and one-quarter of all new small businesses were founded by immigrants, generating trillions of dollars annually, employing millions of workers, and helping establish the United States as the most entrepreneurial, technologically advanced society on earth.
Now, Vivek Wadhwa, an immigrant tech entrepreneur turned academic with appointments at Duke, Stanford, Emory, and Singularity Universities, draws on his new Kauffman Foundation research to show that the United States is in the midst of an unprecedented halt in high-growth, immigrant-founded start-ups. He argues that increased competition from countries like China and India and US immigration policies are leaving some of the most educated and talented entrepreneurial immigrants with no choice but to take their innovation elsewhere. The consequences to our economy are dire; our multi-trillion dollar loss will be the gain of our global competitors.
With his signature fearlessness and clarity, Wadhwa offers a concise framework for understanding the Immigrant Exodus and offers a recipe for reversal and rapid recovery.
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Author
Vivek Wadhwa
VIVEK WADHWA is a distinguished fellow at Harvard Law School and Carnegie Mellon University's College of Engineering at Silicon Valley. He is the co-author of Your Happiness Was Hacked: Why Tech Is Winning the Battle to Control Your Brain - and How to Fight Back; The Immigrant Exodus: Why America Is Losing the Global Race to Capture Entrepreneurial Talent; and Innovating Women: The Changing Face of Technology. He has held appointments at Duke University, Stanford Law School, Emory University, and Singularity University. ALEX SALKEVER is a writer, futurist, and technology leader. He has served as a senior executive at a number of Silicon Valley startups and as a senior leader at respected brands in technology, most recently at Mozilla, where he served as a vice president.
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