Last week, the U.S. Department of Homeland Security delayed the International Entrepreneur Rule to next March, and it is currently accepting comments on plans to rescind it altogether. The agency cited logistical challenges in vetting these new visas. The International Entrepreneur Rule was designed by the Obama Administration to support Silicon Valley and the high tech industry’s need for immigrant entrepreneurs and engineers. Immigrant entrepreneurs in the U.S. account for 44% of all startups. The news has prompted a backlash from immigrant entrepreneurs like PayPal cofounder Max Levchin and leadership at the National Venture Capital Association, who argue that rolling back the rule will drive would-be job creators to other, more welcoming nations. This is already happening.
I previously posted WRT the fact that we are approaching the limits of our ability to achieve physical proof of quantum physics. Why should we care? Where do we go after the CERN Hadron Super Collider confirmed the existence of the Higgs-boson particle, proving the role of dark matter? That said, two separate teams at CERN are debating the results of further experiments that suggest the possible existence of a new sub-atomic particle. This particle, if it exists, and can be confirmed, may support the existence of additional dimensions of space and time. The MIT Technology Review has also suggested that the CERN Hadron Super Collider could potentially prove the validity of the Star Trek hyperdrive technology. We should care because it is the future of the technology that will continue to change our lives.
My biggest complaint with venture capital and the current entrepreneurial landscape is the lack of Big Ideas— the superficiality of the technology sector. “We were promised flying cars and we got 140 characters” –Peter Thiel. We also got corporate greed masquerading as “the sharing economy.” Many other well-known observers of this industry share my complaint. Some argue that these Big Ideas are too big for private investment, and can only be funded by governments with the resources and vision to accomplish such large long term projects. I disagree.
Maybe three years ago, I recall hearing something about a “nuclear fusion” company starting up in Burnaby. In my mind, the thought of a nuclear fusion company in Burnaby was outlandish and preposterous. Growing up in southern California, and later northern California, I had grown up close and personal with the Space Program, and nuclear physics at UC Berkeley Lawrence Nuclear Labs and the super secret Lawrence Livermore National Labs.