THE IMMIGRANT EXODUS: Why America Is Losing the Global Race to Capture Entrepreneurial Talent

THE IMMIGRANT EXODUS: Why America Is Losing the Global Race to Capture Entrepreneurial Talent

My book on immigration is releasing on October 2 along with a research report that I co-authored with Dean AnnaLee Saxenian of UC-Berkeley and Prof. Dan Siciliano of Stanford Law School. There is no good news. The research shows an alarming drop in immigrant entrepreneurship–just when the U.S. needs a tremendous boost. Below are a synopsis [...]

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Forbes: The End of Chinese Manufacturing and Rebirth of U.S. Industry

Forbes: The End of Chinese Manufacturing and Rebirth of U.S. Industry

There is great concern about China’s real-estate and infrastructure bubbles.  But these are just short-term challenges that China may be able to spend its way out of. The real threat to China’s economy is bigger and longer term: its manufacturing bubble. By offering subsidies, cheap labor, and lax regulations and rigging its currency, China was [...]

Washington Post: Ethics in the age of acceleration

Washington Post: Ethics in the age of acceleration

A 63-year old Vietnam veteran who was rendered completely disabled during service to his country was able to travel again because of a custom-made mobile-assistive device. But in October 2009, as he travelled from Miami to San Juan, Puerto Rico, the 450-pound device was damaged in the cargo hold of the plane. As a result, [...]

Foreign Policy: Insourcing

Foreign Policy: Insourcing

America’s real outsourcing crisis isn’t the one Obama and Romney are arguing about. It’s the talented immigrants who are prevented from setting up shop in America. The U.S. presidential election quickly seems to be turning into a battle of “who-outsources-least.” President Barack Obama has taken to referring to Republican candidate Mitt Romney as an “outsourcing pioneer” during [...]

Forbes: Why I Believe That This Will Be The Most Innovative Decade In History

Forbes: Why I Believe That This Will Be The Most Innovative Decade In History

Many people believe that we’ve run out of ideas and that the future will be one of bleak shortages of food, energy, and water. Billionaire Peter Thiel, for example, argues that despite spectacular advances in computer-related fields, technological progress has actually stalled because the internal combustion engine still rules our highways, the cancer death rate [...]

Washington Post: Peter Thiel sings siren song to America’s youth

Washington Post: Peter Thiel sings siren song to America’s youth

Attention high school graduates with dreams of becoming a doctor: That’s a bad idea. Instead, become a plumber. You’ll make more money. If you think that sounds crazy, that’s because it is. But that’s precisely the message noted investor and Libertarian Peter Thiel intoned on CBS 60 Minutes Sunday. It was only the latest blast [...]

Washington Post: My Wasted Day on Capitol Hill

Washington Post: My Wasted Day on Capitol Hill

With the economy still in the doldrums, our political leaders are desperate to find ways to boost economic growth. Innovation and entrepreneurship are among the most obvious pathways to a solution. Both were the subject of a hearing held by the U.S. Senate Committee on Small Business & Entrepreneurship chaired by Sen. Mary Landrieu (D-La.), [...]

Washington Post: America, keep rewarding your dissidents

Washington Post: America, keep rewarding your dissidents

Ever since I became an academic six years ago, I have been one of the biggest critics of U.S. competitiveness policies. I documented, for example, that we had our data wrong when it came to India and China’s advantages in engineering education and R&D, that we didn’t understand how to build innovation centers, and that our assumptions about [...]


Recent Articles

LinkedIn: Innovating Women Leaning In to Tell Their Own Stories

Innovative WonenThe technology industry has a gender problem. The vast majority of its Venture Capitalists are male as are the founders of its startups and its technology heads. Even the boards of its public companies are dominated by males.

It isn’t that women are not up to the job. The problem is that they are discouraged and left out. During childhood, girls are often sent the wrong signals by their parents. When they go to school, girls with an interest in engineering and science are called “tomboys”. When they defy the odds and become scientists or engineers, women are often treated as inferior and passed over for promotion.

Sadly, the deck has always been stacked against women—right through the ages. For example, in the 1730s, a brilliant woman mathematician, Emilie du Châtelet, translated and popularized Sir Isaac Newton’s arcane Principia Mathematica, and created a foundation for Einstein to develop his theories. She inspired Voltaire’s writings. But she received almost no recognition and few have ever heard of her. Similarly, a century later, Marie Curie performed pioneering research on radioactivity for which she received two Nobel prizes, yet she is less of a household name than Kim Kardashian. (more…)

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Washington Post: Why we need a ‘plan B’ for comprehensive immigration reform

“Without a path to citizenship there can be no immigration reform,” said Senator Mike Bennet (D-Colo.), at the Milken Institute Global Conference on Monday during a panel discussion.

Bennet, one of the “Gang of 8” senators negotiating comprehensive immigration reform legislation, was adamant that we should not create an under-class that has fewer rights than American citizens.

(more…)

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WSJ: Debunking the Myth of the Dorm-Room Billionaire

WSJ WadhwaDuring the mid-‘90s, cardiologist and researcher David Albert had the idea to develop a handheld device that displays an electrocardiogram. He believed that this would save lives by providing immediate information to patients wherever they were. In those days, even the most powerful handheld computers didn’t have the needed capabilities. So Albert dropped the idea because it was impossible.

Myths abound about the young entrepreneurs who dreamed up crazy ideas while in their dorm room, raised millions of dollars in venture capital, and started billion-dollar businesses. But these are just the outliers. The typical entrepreneur is more like Albert—a middle-aged professional who learns about a market need and starts a company with his own savings.And then came the iPhone in 2007 — which has more processing power than some of the supercomputers of yesteryear. In 2010, at the age of 56, Albert started Alivecor with $250,000 from his savings. His goal was to build an iPhone case that performs an EKG. This device was approved by the FDA last December and now retails for $200—with a prescription. (more…)

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Washington Post: MOOCs, sensors, apps and games: The revolution in education innovation

India_Tibet_Monastic_Science-0b22eMassive Open Online Courses (MOOCs) have been touted by some as the breakthrough that will transform education. Top universities such as MIT, Harvard, and the University of California at Berkeley are scrambling to make their lectures available online. Gov. Jerry Brown (D-Calif.) described one such program — a trial effort between online course platform Udacity and San Jose State University — as being “about our society, our future and how we can all improve our skills, how we can exercise our imagination.”

Brown is right, but today’s online courses are just a baby step forward on education’s path to transformation, particularly early childhood education. Khan Academy founder Salman Khan will likely be seen in the near future as the modern-day equivalent of the radio star who first appeared on television, microphone in hand. (more…)

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PBS Newshour: Why Older Entrepreneurs Are Crucial, Even in Silicon Valley

Facebook likesFacebook CEO Mark Zuckerberg founded his social media website from his dorm room at Harvard University when he was only 19 years old. As Silicon Valley investors search for the next “Zuckerberg,” they increasingly maintain a prejudice against older entrepreneurs. Vivek Wadhwa says the age discrimination in tech industries is a big mistake. Photo by Justin Sullivan/Getty Images.

A Note from Paul Solman: Silicon Valley entrepreneur Vivek Wadhwa is a favorite contributor of ours on Making Sense and The Business Desk. His most recent contribution, on Silicon Valley discriminating against women, brought a torrent of spirited affirmations and denials.

Now, he takes on a theme we’ve been following since January: older workers in America. They too are discriminated against, he writes, and once again, in supposedly meritocratic Silicon Valley. It’s a big mistake.


Vivek Wadhwa: It wasn’t long ago that age was equated with knowledge. The apprentice learned from the master and the disciple from the guru. Older workers earned higher salaries because of their experience. (more…)

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Washington Post: Wearable tech and the futurists’ conundrum

Sergey BrinThe future is moving so fast that sometimes even the futurists are unprepared for it.

A student at Singularity University, where I serve as vice president of innovation and research, asked to wear Google Glass to class. Their request set off a lively discussion. The student inquired about using the device’s recording capability to document her experience.

The institution, home to some of the world’s most notable futurists, allows its students to record lectures for personal use when approved by the lecturer. But Google Glass adds a new dimension—any interaction at any time can be recorded without the knowledge of the people who are being recorded.  On Monday, VentureBeat reported that it could be possible to take pictures using Google Glass with no more than a wink. California law allows consent to be obtained before aconversation can be recorded, but there is no restriction on recording video provided there is no audio. So, the school didn’t know how to respond. (more…)

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WSJ: The Truth About the ‘Age Premium’

WSJ Wadhwa They don’t prepare you for this in college or admit it in job interviews. The harsh reality is that if you are middle-aged, write computer code for a living, and earn a six-figure salary, you’re headed for the unemployment lines. Your market value declines as you age and it becomes harder and harder to get a job.

I know this post will provoke anger, outrage, and denial. But, sadly, this is the way things are in the tech world. It’s an “up or out” profession — like the military. And it’s as competitive as professional sports. Engineers need to be prepared. (more…)

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LinkedIn: Look Before You Leap Into That MBA

ChoicesMy Wall Street Journal article about why I discourage students who want to become entrepreneurs from doing an MBA provoked a far stronger reaction than I expected. The vast majority of the emails and comments were in agreement — including from business-school professors. What shocked me were the angry online comments, Tweets, and emails from a few MBA students—because of their lack of professionalism. So it is clear that this issue is highly contentious and deserves further discussion.

The fact is that most business schools are geared toward churning out corporate executives, investment bankers, and consultants — not entrepreneurs. There are some exceptions and some schools are evolving, but by and large, MBAs are not for startups. Just visit the recruiting booths on university campuses. All you see are big corporations; the finance and management consulting industry is overrepresented. (more…)

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WSJ: Vivek Wadhwa: Why I Don’t Advise Startups to Hire M.B.A.s

WSJ Wadhwa

 

I have no doubt that my M.B.A. from New York University’s Stern School of Business was one of the best investments I ever made. It helped me climb the corporate ladder and become an entrepreneur. As a tech executive, I would readily pay a premium to hire B-school grad


I no longer advise startups to hire M.B.A.s and I discourage students who want to become entrepreneurs from doing an M.B.A.
uates. I also used to advise tech startups to strengthen their management teams by recruiting professional managers from M.B.A. programs.

That’s because I have seen a growing mismatch between the skills that business schools teach and what fast-paced startups require. And corporate management isn’t the best path to entrepreneurship anymore—the best way is to work for a startup. (more…)

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WSJ: Vivek Wadhwa: You’re Not Indestructible — Or Indispensable

WSJ WadhwaOn the flight back from Mexico, I started to feel a shooting pain in my left arm. It was as if electricity was passing through my veins. I ignored this — as I had ignored the back pain that I’d felt on the cruise to Cancún and the extreme nausea after climbing the Chichen Itza pyramid. After all, I was indestructible. I had just turned around my startup — which had run into trouble after the dot-com bubble burst in 2000 and the economic shock of 9/11.

My company was now on track for 200% annual growth rates and 25% profit margins. It would be as big a success as my previous startup, which we had taken public. Nothing could stop me.

I was wrong — my body could stop me. I wasn’t indestructible. (more…)

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PBS Newshour: Silicon Valley Discriminates Against Women, Even If They’re Better

163640813_business_deskSilicon Valley entrepreneur Vivek Wadhwa discovers that the famed “meritocracy” of Silicon Valley is a myth and that women are systematically discriminated against there, despite the fact that they’re more productive, on average, than their male counterparts. He has a plan to change the Valley.


Paul Solman: Silicon Valley entrepreneur Vivek Wadhwa is a widely heard voice on the value of immigration for the U.S. economy. We first featured him a year ago in “Man v. Machine,” a story on the automation of work and did so again on this page last fall on the threat posed by a programmable robot named Baxter. (more…)

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LinkedIn: My Secrets: How I Learned That Selling Is A Key To Success

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The one skill that everyone needs is something that college doesn’t teach: selling. Yes, I know that “selling” conjures up negative images of used-car salesmen peddling clunkers. But the ability to persuade people to believe in you is a necessity. That’s because selling is not just about exchanging things for money; selling is about life. Convincing the perfect soulmate to go out on a date is a sales job. Enticing your children to eat their vegetables is a sales job. Negotiating a raise with your boss is a sales job. And, yes, selling your company to Google is definitely a sales job. Each of these is a sales job in that you are listening to others, finding out what they want or need, and giving it to them in a form that they appreciate. And guess who the best salespeople in tech companies are? Your developers.

I didn’t always believe this. (more…)

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