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As for the national debt, the benefits of immigration are only likely to accrue with time. Later generations of immigrants tend to pay more in taxes as educational attainment and incomes rise, according to the Cato Institute’s report, which called children of immigrants “the most potent fiscal engine this country has ever seen.” Should Trump’s immigration crackdown cause a sustained decline in new entries, that engine will be much less powerful than it could have been.
His move to the startup world was inspired by Clayton Christensen’s The Innovator’s Dilemma, which argues that market leaders, by nature, are often set up to fail. “This thesis made me really understand how the technology industry was going to be much bigger, much faster than most thought in the late ’90s,” he told Authority Magazine in 2021. “This made me take the risk of working at my first startup because I believed that big companies were at risk of being disrupted due to the advent of the internet and mobile phones.”