I have been doing a LOT of studying on the importance of global thinking, for more than a year. This is such a big topic that I have not managed to write a blog post here but do have some on my global thinking blog (see below).
More than half of the most valuable startups in America were founded by immigrants, according to a new analysis by the National Foundation for American Policy. The new research, which I authored, shows how vital immigrants have become in founding America’s most valuable companies.
“Immigrants have started more than half (319 of 582, or 55%) of America’s startup companies valued at $1 billion or more,” the analysis. “Moreover, nearly two-thirds (64%) of U.S. billion-dollar companies (unicorns) were founded or cofounded by immigrants or the children of immigrants. Almost 80% of America’s unicorn companies (privately-held, billion-dollar companies) have an immigrant founder or an immigrant in a key leadership role, such as CEO or vice president of engineering.”
Source: Most Billion-Dollar Startups In The U.S. Founded By Immigrants
Some of the above is due to sample bias. To come to the U.S. and obtain legal residency, you generally need to be highly educated, preferably in an in-demand field like engineering or science or health care. The result is we import immigrants who have more skills than are typical in the U.S. population and who then go on to start successful businesses.
Some random observations:
- About 1 in 3 U.S. residents was born abroad, studied abroad, worked abroad or has lived abroad. This, when coupled with attributes such as education, gives them an advantage in a globalized business world.
- 93% of those with a 4-year degree have traveled to at least one international destination. About 2/3ds have been to 3 or more countries and over 1 in 4 have been to more than ten countries.
- The U.S. does not do languages. In Europe, nearly all students learn English as a 2nd language, starting very young and continuing for many years. A majority will learn a 3rd language as well. In the U.S., few students learn a 2nd language. Those that do, start in high school and take 2 years of a language to fulfill some university entrance requirements. To learn a language well, requires starting sooner and more years. Learning another language greatly improves ones understanding of other cultures and ways things are done differently, elsewhere.
- Everyone who has ambition to accomplish in life must seek out global experiences as early as is possible.
- If you are working in a professional job, and certainly in a national or international business, and your company has not sent you abroad on an international business trip, this is a sign your career has plateaued or may be ending soon.
- By definition, any immigrant to the U.S. has a larger global perspective than those in the U.S. who are not globalized.
- Those with multiple citizenships or residency permits are uniquely situated. Several of my LinkedIn contacts have both U.S. and EU citizenship and note they are pre-authorized to work in either location, simplifying their employment. This is a big advantage for skilled workers that are in high demand – and who can be put to work most anywhere.
- I strongly recommend everyone pursue global skills as soon as possible in life, including study abroad opportunities and global internships, or early career assignments abroad. Once you get over 40 to 50, global opportunities become scarce, other than personal travel.
Related posts on my Travel blog:
From this post:
