The Immigrant Exodus
Why America Is Losing the Global Race to Capture Entrepreneurial Talent
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 loss will be the gain of our global competitors.
In The Immigrant Exodus, Wadhwa addresses:
- Why immigrants are critical to America’s economic development and intellectual capital
- The rise and decline of the immigrant-powered startup machine in America
- Why immigrants are leaving America
- Why the visa system is broken and the impact this has had on skilled immigrants
- How the rest of the world is trying to replicate the success of Silicon Valley and recruit the best global talent
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Praise for The Immigrant Exodus
Named a 2012 Economist Book of the Year!
“Talk about hitting our economy when it’s down! And we’re doing it to ourselves, as Vivek Wadhwa’s shocking new book illustrates….Vivek’s timely book should wake Washington up to this destructive folly.”
—Steve Forbes, chairman and editor-in-chief, Forbes Media
“Vivek Wadhwa’s new book, The Immigrant Exodus, is admirably short, yet he packs it with righteous fury. America, he points out, has one of the greatest assets a nation can have: people yearn to live there.” —The Economist
“A thoughtful contribution to the dialogue surrounding immigration.” —Kirkus Reviews
“Immigrants have long been the backbone of America—our nation itself was a start-up founded by immigrants. The Immigrant Exodus demonstrates the danger this country faces if it continues to turn away such a precious resource.” —World Policy Review
“There is no better monitor of America’s shifting immigration regime than Vivek Wadhwa.” —Edward Luce, The Financial Times
1. “US Immigration Policy is Killing Immigration,” Financial Times
2. “People Power: American Needs to Rethink Its Immigration Policy,” The Economist
3. “America Drives Out Immigrants, Innovation,” World Policy Institute
5. “Can immigrants Fix the Job Problem?,” CNN Your Money
6. “Preventing Silicon Valley's 'Immigrant Exodus',” NPR Morning Edition
7. “What in the World,” CNN's Fareed Zakaria GPS
8. “Vivek Wadhwa – “The Immigrant Exodus,” The Tavis Smiley Show