Study: Immigrants Founded 51% of U.S. Billion-Dollar Startups
These are not the downtrodden masses. Immigrant does not mean poor. These are wealthy upper class people coming to the most logical place to create a successful technology company, because they can afford to do so. Poor people are usually stuck wherever they are.Investors in Silicon Valley care a lot about status and pedigree. A foreigner that can afford elite credentials is far more likely to get funding than a poor local.And of course H1B visas drive down wages. This is basic supply and demand.