Chang is representative of the growing number of immigrant entrepreneurs who have begun to seek market opportunities outside the U.S. in the phenomenon called the reverse brain drain. I met him in the course of conducting research for a Kauffman Foundation report on immigrant entrepreneurship, which found that the proportion of immigrant founded-companies in Silicon Valley had dropped from 52.4% to 43.9% since 2005. Significantly, the reverse brain drain has hit Taiwanese entrepreneurship the hardest.The pigeons are coming home to roost: elite mismanagement of the US economy, the burgeoning security state, the petty harassment and visa issues by immigration, high costs and indifferent returns, and the higher education bubble. The Obama Administration needs to stop bombing weddings and barbecues in the Middle East, leave Afghanistan to the Chinese, the only beneficiaries of our stupid, criminal war there, and turn the cash to investment in the nation's infrastructure and other urgent needs.
According to our findings, Taiwan has dropped from the fourth top immigrant-founder-sending country to twenty-second since 2005. This translates to a decrease in the proportion of Taiwanese-founded startups from 5.8% to 1.1%. By contrast, the rankings for other top sending countries have remained fairly stable over the decade. The cause for concern for the decline in Taiwanese entrepreneurship in particular is because Taiwanese immigrants historically played such an integral role in the development of the U.S. tech industry, apart from Chinese and Indians.
It should also be added that Taipei is now a pretty good place to live, with direct connections to China and cheap flights to other growing Asian economies. Low levels of street crime, universal health insurance, and very low taxes on wealth. Lots of wealthy Taiwanese in the US must be considering a return.....
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