Maybe in 1989, this would have made sense. But capitalism has had enough converts that most countries have pretty low barriers to high tech startups now.
IMHO, people who are already entreprenurial in their home countries will be the last people who will want to immigrate to the US. Maybe pg looks at the number of companies founded by immigrants and thinks that he can increase that number by creating a new visa class for founders. Immigrants start businesses because American culture is much more stable, open to startups, tolerant of failure, and gives people second chances; so many immigrants let go of their previous cultural biases and become founders.
If you're already an entrepreneur in a poorer country like India and China, why would you immigrate from there to a country where all expenses are vastly higher. I mean, American companies are setting up development centers in India and China. For richer countries like France and Germany, you give you any existing networks and go to a new place. Seems like a net loss to me.
You have stay in a culture for a while before you recognize business opportunities there. I bet that most of the immigrants who start things do so after staying in the US for 3+ years. My claim is that a new immigrant will do worse at business than average.
You'll have to let in lots of smart people and hope that some start companies. Maybe you can set up the rules so that it's easier for the smart new arrivals to start a business as soon as they're ready.
Currently, due to various rules, the most common route to permanent residency takes approx 6 years of continuous employment with the same employer for an immigrant to gain unrestricted rights to do business (this requires permanent residency). So for somebody who arrived for a Master's degree (being simplistic and using Master's as a proxy for smartness), it will be 8 years after arrival. This same person may have understood the culture well enough in 3 years and be ready to start a business.
Maybe in 1989, this would have made sense. But capitalism has had enough converts that most countries have pretty low barriers to high tech startups now.
IMHO, people who are already entreprenurial in their home countries will be the last people who will want to immigrate to the US. Maybe pg looks at the number of companies founded by immigrants and thinks that he can increase that number by creating a new visa class for founders. Immigrants start businesses because American culture is much more stable, open to startups, tolerant of failure, and gives people second chances; so many immigrants let go of their previous cultural biases and become founders.
If you're already an entrepreneur in a poorer country like India and China, why would you immigrate from there to a country where all expenses are vastly higher. I mean, American companies are setting up development centers in India and China. For richer countries like France and Germany, you give you any existing networks and go to a new place. Seems like a net loss to me.
You have stay in a culture for a while before you recognize business opportunities there. I bet that most of the immigrants who start things do so after staying in the US for 3+ years. My claim is that a new immigrant will do worse at business than average.
You'll have to let in lots of smart people and hope that some start companies. Maybe you can set up the rules so that it's easier for the smart new arrivals to start a business as soon as they're ready.
Currently, due to various rules, the most common route to permanent residency takes approx 6 years of continuous employment with the same employer for an immigrant to gain unrestricted rights to do business (this requires permanent residency). So for somebody who arrived for a Master's degree (being simplistic and using Master's as a proxy for smartness), it will be 8 years after arrival. This same person may have understood the culture well enough in 3 years and be ready to start a business.