Why Is The US So Hostile To Foreign Entrepreneurs Who Want To Build Businesses Here?
from the let-them-in dept
We’ve talked about just how ridiculous US policies towards highly skilled immigrants and entrepreneurs are for years. We’re driving away the very people who can help create new companies and new jobs within our economy, and handing them, gift-wrapped, to other countries. And those other countries are increasingly aware of the massive opportunity the US is vehemently ignoring, and those other countries are becoming increasingly welcome to foreign high-skilled workers and entrepreneurs. The Economist has a good article highlighting just how backwards US policies on entrepreneur immigration are, especially compared to countries like the UK, Australia, Canada and New Zealand, who are very welcoming towards foreign nationals who want to start companies in their countries. And then there are upstarts like Chile, who go so far as to simply hand large sums of cash to startups that want to set up shop there.
But the US keeps pushing such people away.
The article includes an example — one of hundreds we’ve seen — of entrepreneurs trying to setup a new company and create jobs in the US… only to be forced to do the same thing in another country (in this case, Canada). We’re actively pushing away the job creators at a time when our economy needs jobs.
And, of course, while sometimes these individuals go to these other welcoming countries, some also just head back home. As the article notes, China has actually become pretty aggressive in offering some highly skilled workers who come back from trying to work in the US “not only free homes but also cash to buy furniture.”
Honestly, it’s pretty clear from the Economist piece that whoever wrote it is incredulous that the US would have such policies in place when they clearly harm its own interests. And, of course, the truly amazing thing is that over the years, the various efforts to fix these problems and welcome in skilled immigrants who create jobs always seem to get shot down. As we recently mentioned, the Startup Act 2.0 has been introduced, and even though it offers some pretty simple ways to let in a few more job creators, it’s not clear that there’s enough momentum to push it through (though, you can help change that by telling your elected officials to pass the bill). There are many different forms of protectionism — and almost none of them are helpful. But it’s perhaps worst of all when you’re protecting yourself from job creators.