A tip for success as a venture capital-backed entrepreneur

It's not listed in the article as the biggest determinant of success, but it seems to play a large part, and it's a concise, if not particularly easy-to-follow suggestion:

Be an immigrant

The article's actual title is "Immigrants Have Founded 1 in 4 Public Venture-Backed Companies in the U.S. Since 1990", but mine's shorter, pithier, and more memorable. I guess that means that unless the Democrats are successful at undoing the pretend-planning that's been done on the southern border fence, we're going to see a dearth of new venture-backed startups. And yes, that's called "leaping to a possibly unintended conclusion".
 

Posted by Patton Patton on   |   § 8

§ 8 Comments

1

Patton, those guys are driving cabs here too. Half of my parents friends who own stores have college degrees. Heck, my mom is better read than any of us. (Jesuit education, majoring in English Lit. No, mommy, I don't want to read Milton this summer.)

Generally speaking, it's a licensing issue. There's enough of a language barrier sometimes that they can't recertify into their trades here in the US. One of our friends had to go through another four years of American pharmacy school to work here, even though she was already qualified in Korea. A medical degree often doesn't travel well unless you can pass the American board exams.

CODEWORD: WORK

Fancy that. Just the subject we were discussing.

2

On the other hand, I knew a few Persian exiles--lawyers, especially--who could do nothing in this country because their profession was so culturally imbedded.

3

N:

That's not a total generalization, I don't think.

On your latter point, I'm picturing doctors driving taxi cabs back in their home countries, but able to use their full talents as immigrants here or elsewhere.

4

Funny thing about being an immigrant - you're also guaranteed, from a certain perspective, to be an emigrant as well. Two monikers for the price of one.

Lucky for us, however, you've got way more than a 4th grade education, but that means that imaginary follow-up piece I was going to look for won't include you or any of other our good neighbors from the Great White North.

5

To generalize, immigrants come in two flavors. First, those who have not be given enough education to fit into the industrial economy. Second, those with so much education that they cannot make proper use of it in smaller economies.

6

Oh dear. A classic example of correlation being confused with causation.

Of course, those companies were probably founded by people who initially came here on H1-B or F4 visas, which are somewhat self-selecting. I mean, if an American also had a college or advanced degree, they are more like to be a success here as well. Kind of a no-brainer.

The more interesting analysis is to find out which of those immigrant started ventures were founded by people with nothing but a 4th grade education.

7

I never did quite figure out what the point was they were trying to make, to be honest. But I really didn't try to hard - when I see an article with a headline that makes me go "Duh.", my eyes sort of glaze over.

I'll look for the follow-up piece, however. The one about the folk with 4th grade educations.

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