The Impact of Immigration on the Startup Market

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A lot of the reason the US has such a vibrant startup culture is because there are so many immigrants. Immigrants start startups, right? Disproportionately, something like more than half of the IPO startups were founded by immigrants. The interesting thing is, if technology keeps changing faster and faster, people will be younger and younger when they're left behind. So maybe there will come a time when 30-year-olds are like left behind, because 18-year- olds are doing the new thing.

Paul Graham, essayist, programmer and partner in the y-combinator talks with EconTalk host Russ Roberts about start-ups, innovation, and creativity. Graham draws on his experience as entrepreneur and investor to discuss the current state of the start-up world and how that world has changed due to improved technology that makes it easier to start a software company. Graham talks about his unusual venture firm, the y-combinator, and how he and his partners work with start-ups to get them ready for more advanced funding. Along the way, Graham discusses why hackers are like painters and how to survive high school.