Huffington Magazine Issue 22 | Page 54

BRAIN DRAIN HUFFINGTON 11.11.12 “If Mark Zuckerberg had been a foreign student, Facebook would never have gotten started in the United States.” I met Darash a few weeks after his visa was denied at his office in downtown San Francisco. The windows were open, and you could hear the clang of trolley bells down below on Market Street. Behind him were framed photos of his wife and two kids — ages 8 and 18 months. It was a Thursday morning, and he had just showed off his company’s software to a potential client. Later, he would meet with his programmers and talk to investors. Then, he would close his office door to talk privately with lawyers about his last-minute options to remain in the country. Stories like his are not unique. They’re also troubling for the U.S. economy, advocates say. For the first time, the number of immigrant-founded startups is in decline, as foreign-born entrepreneurs struggle to obtain a limited number of visas and green cards and decide to launch companies in other countries that offer perks to start businesses there. Losing founders like Darash, who launch startups that create jobs, means that America risks losing a source of employment and a competitive edge in the global economy as the country claws its way out of a recession, they say. For years, immigrant entrepreneurs have propelled the growth of Silicon Valley, building some of the most successful tech companies in the world: Sergey Brin, co-founder of Google, was born in Russia; Elon Musk, co-founder of PayPal and Tesla, was born in South Africa; Vinod Khosla, cofounder of Sun Microsystems, was born in India. When they immigrated, it was likely easier for them because there was not a backlog that there is today, according to Vivek Wadhwa, a professor at the Pratt School of Engineering at Duke University who researches high-tech immigration. Immigrants are more than twice as likely to start a business as native-born Americans, according