Haq's Musings

Riaz Haq writes this data-driven blog to provide information, express his opinions and make comments on many topics. Subjects include personal activities, education, South Asia, South Asian community, regional and international affairs and US politics to financial markets. For investors interested in South Asia, Riaz has another blog called South Asia Investor at http://www.southasiainvestor.com and a YouTube video channel https://www.youtube.com/channel/UCkrIDyFbC9N9evXYb9cA_gQ

Showing posts with label Indians. Show all posts

Monday, June 8, 2026

Ten Pakistanis Among Unicorn Founders in America

There are ten Pakistani immigrants included among founders or co-founders of unicorns in America, according to a recent study by the National Foundation for American Policy (NFAP). A unicorn is a startup with a valuation of at least one billion U.S. dollars. Immigrant entrepreneurs of US unicorns are diverse, hailing from 76 different countries. India, with 96 companies, is the leading country of origin for the immigrant founders of U.S. billion-dollar companies. Immigrants from Israel founded the second-most billion-dollar companies with 60, followed by the United Kingdom (47), China (41), Canada (30), Russia (23), France (21), Germany (18), Ukraine (16), Australia (14), Pakistan (10) and Romania (10). Some companies were founded by entrepreneurs from the same country or immigrants from multiple countries.

Four of Ten Pakistani-American Founders Listed Among Unicorns

Why are Indian entrepreneurs leading the pack of unicorn founders/co-founders in America? The key reason is that “the great Indian brain drain” is accelerating with the country rapidly losing its best and brightest to the West, particularly the United States. Large presence of the Indian immigrant unicorn founders in America is attributed to the fact that most immigrant founders come to the U.S. as students or H1B workers, categories dominated by Indians. Over 80% of the H1B visas go to Indian applicants. India also leads in sending students to study in US universities.

Unicorns in America. Source: NFAP

Pakistan, too, is suffering brain drain but not on the same scale as India. Most prominent among Pakistan-origin unicorn founders/cofounders are Karachi-born Sualeh Asif, Lala Moosa-born Qasar Younis, Karachi’s NED University alumnus Rehan Jalil and Pakistani-American serial entrepreneur Zia Chishti.

26 year old Karachi born Sualeh Asif, cofounder of Cursor (Anysphere) recently joined the list of Forbes Billionaires after Cursor reached a $29.3 billion valuation in November 2025, according to Forbes magazine.

43 year old Qasar Younis, a Lala Moosa born Harvard-educated Pakistani-American, is the CEO of Applied Intuition, a physical AI and autonomous vehicle software firm valued at $15 billion. Younis's resume includes his role as Chief Operating Officer of Y-Combinator, a spawning ground for tech giants Dropbox, Airbnb, and Stripe in Silicon Valley, according to Fortune Magazine.

Rehan Jalil, a fellow alumnus of NED University in Karachi, founded AI-powered data privacy and governance platform Security.AI. The startup has now been acquired by Veeam for $1.725 billion.

Zia Chishti is a serial entrepreneur from Pakistan. He founded Afiniti.AI which reached a $1.6 billion valuation back in 2017. founded his first company Align Technology in 1997 in Silicon Valley. It creates clear plastic braces for straightening teeth by using advanced 3-D computer imaging. The technology now trademarked as Invisalign has helped millions of people straighten their teeth for a beautiful smile without enduring the pain and unsightly looks of the traditional steel brackets and wires used in orthodontics. Align Technology is now valued at $10 billion.

The NFAP study found that immigrants have founded or co-founded 59% (455 of 775) of America’s privately held startup companies valued at $1 billion or more. That is an increase from 55% in NFAP reports released in 2018 and 2022.

Approximately two-thirds (66%) of U.S. billion- dollar companies (unicorns) were founded or cofounded by immigrants or the children of immigrants. Nearly 80% of America’s unicorn companies (privately held, billion-dollar companies) have an immigrant founder or an immigrant in a key leadership role, such as CEO or vice president of engineering. Almost one in four U.S. billion- dollar companies, or 24%, have a founder who came to America as an international student. The research shows the importance of immigrants in cutting-edge companies and the U.S. economy at a time when U.S. immigration policies have grown more restrictive.

The collective value of the 455 immigrant-founded billion-dollar companies is $5.0 trillion, which is more than the total market value of companies listed on stock markets in all but 7 countries, including the UK and Germany, and a demonstration of the wealth-creating power of immigrants. The collective value of immigrant-founded billion-dollar companies rises to over $5.8 trillion if one includes unicorn companies that have gone public since 2016.

Friday, October 13, 2023

US Census Update: Pakistani-Americans' Average Annual Household Earnings Estimated at $150,000

The average annual household earnings of Pakistani-Americans are $149,178, according to the latest update issued by the United States Census Bureau for 2022. The update estimates the median income of 132,958 Pakistani-American households at $106,281. Average is calculated by adding up all incomes and dividing it by total number of households. Median income level divides the top 50% of families from the bottom 50%. It shows that Pakistani-American household incomes are roughly at par with the Asian-American households' median of $104,646 and average of $149,363. The highest income ethnic group in the US are Asian Indian households with a median of $152,341 and average of $197,732. Asians are significantly richer than Whites (mean $78,636, average $112,415) and African Americans (mean $52,238, average $76,888). The word "alone" in the labels in the following table excludes mixed race households.

South Asian Americans Households. Source: US Census Update 2022

Asian Americans are the best educated racial group in the United States. From 2012 to 2022, the percentage of adults age 25 and older with a bachelor’s degree or more increased from 34.5% to 41.8% for the non-Hispanic White population; from 21.2% to 27.6% for the Black population; from 51% to 59.3% for the Asian population; and from 14.5% to 20.9% for the Hispanic population, according to the US Census.

Educational Attainment By Racial Groups (Source: US Census)

Among Asian Americans, the Indians (three quarters) have the highest educational attainment with at least a bachelor's degree, followed by Koreans and Pakistanis (about 60%), followed by the rest.

Asian American Educational Achievement by Countries of Origin. Source: US Census

Asians, including Chinese/Taiwanese, Indians and Pakistanis, tend to be concentrated in STEM (Science, Technology, Engineering and Technology) fields where incomes are generally much higher than in other occupations.

As of 2019, there were 35,000 Pakistan-born STEM workers in the United States, according to the American Immigration Council. They included information technologists, software developers, engineers and scientists. These figures do not include medical doctors and healthcare workers.

Foreign-Born STEM Workers in America. Source: American Immigration Council

Foreign-born workers make up a growing share of America's STEM workforce. As of 2019, foreign-born workers made up almost a quarter of all STEM workers in the country. This is a significant increase from 2000, when just 16.4% of the country’s STEM workforce was foreign-born. Between 2000 and 2019, the overall number of STEM workers in the United States increased by 44.5 percent, from 7.5 million to more than 10.8 million, according to American Immigration Council.

India and Pakistan Among Top 10 Countries Receiving US Immigrant Visas. Source: Visual Capitalist

India topped the top 10 list of foreign-born STEM workers with 721,000, followed by China (273,000), Mexico (119,000), Vietnam (100,000), Philippines (87,000), South Korea (64,000), Canada (56,000), Taiwan (53,000), Russia (45,000) and Pakistan (35,000). Enormous number of Indian STEM workers in the United States can at least partly be attributed to the fact that India's "body shops" have mastered the art of gaming the US temporary work visa system. Last year, Indian nationals sponsored by "body shops" like Cognizant, Infosys and TCS received 166,384 H1B visas for work in the United States. By comparison, only 1,107 Pakistanis were granted H1B visas in Fiscal Year 2022. In addition to H1B work visas, 9,300 Indian nationals and 7,200 Pakistani nationals received immigrant visas to settle in the United States as permanent residents in 2021.

Doctor Brain Drain. Source: Statista

In addition to 35,000 Pakistan-born STEM workers, there were 12,454 Pakistan-born and Pakistan-trained medical doctors practicing in the United States, making the South Asian nation the second largest source of medical doctors in America. Pakistan produced 157,102 STEM graduates last year, putting it among the world's top dozen or so countries. About 43,000 of these graduates are in information technology (IT).

H1B Visas Issued in Pakistan. Source: Visagrader.com

H1B Visas Issued in India. Source: Visagrader.com

Every year, applicants sponsored by Indian body shops claim the lion's share of H1B visas. In 2022, Indians received 166,384 new H1B visas, accounting for nearly three quarters of all such visas issued by the US government. The figures reported as India IT exports are in fact the wages earned by millions of Indian H1B workers in the United States.

Many developing countries are experiencing brain drain. But India is losing its best brightest at a much faster rate than others. Some call it "The Great Indian Brain Drain". This is the reason why Indians in the United States are the best educated and the highest earning group. In a recently published book titled "The Other One Percent", authors Sanjoy Chakravorty, Devesh Kapur and Nirvikar Singh explain this phenomenon.

They write that the vast majority of Indians who migrate to the United States are from privileged backgrounds in terms of caste, class and education. They have gone through “a triple selection” process that gave Indian-Americans a boost over typically poor and uneducated immigrants who come to the United States from other countries. The first two selections took place in India. As explained in the book: “The social system created a small pool of persons to receive higher education, who were urban, educated, and from high/dominant castes.” India’s examination system then selected individuals for specialized training in technical fields that also happened to be in demand in the United States. Kapur estimated that the India-American population is nine times more educated than individuals in the home country. Here's an excerpt of it:

"A major focus of this book is on demonstrating and understanding the multiple selections that shaped the Indian-American population. These selections applied not only to education (that, in terms of attaining college degrees, made the India-born population three times more educated than that in the host country and nine times more educated than the home country’s population) but also to class and caste (favoring, by large margins, the “upper” and dominant classes and castes of India), profession (engineering, IT, and health care), and both the region of origin (Gujarati and Punjabi were overrepresented in the first two phases, and Telugu and Tamil in the third phase) and region of settlement (in specific metropolitan clusters in and around New York City, the San Francisco Bay Area, Chicago, Washington, D.C., and Houston and Dallas). In addition to direct selection is what we call the “selection+” advantage: we suggest that group characteristics or norms, such as the fact that Indians had the highest propensity to live in married-couple households of any major immigrant group, added to the advantages of being an already selected group. We show, in particular, how family norms were useful in keeping the Indian-American poverty level low (under 5 percent) and family income high (the highest in the United States). It is also likely that the selection process enabled, without explicitly intending to, the generation of high levels of social capital (through linguistic/ professional networks such as Gujarati entrepreneurs in the hotel industry, Telugu and Tamil workers in the IT industry, IIT engineers, Malayali nurses, Bengali academics, etc.)"

Sunday, February 12, 2017

A Conversation with White Nationalist Jared Taylor on Race in America

Is there an established link between race and intelligence? Are whites inherently more intelligent than people of color? If so, why did Europe suffer a rapid decline during the Dark Ages after the Fall of the Roman Empire? Did the Europeans' intelligence (IQ) precipitously drop? Or did the IQ of the Arab-Persian Muslims experience a meteoric rise during the Golden Age of Islam while Europe was in the Dark Ages?

World IQ Scores Map Source: American Info Maps

Where did the term "Caucasian" to describe Europeans come from? Does it suggest that Europeans originally migrated from Caucasus region in Central Asia? Didn't most Pakistanis and North Indians also come from the same Caucasus region to their new home in South Asia? If so, why is the IQ for Europeans (100) higher than the IQ of 82 for Indians and 84 for Pakistanis? Is it dealing with the harsh winters than has increased European IQ? If so, why do the Eskimos have lower IQs than the Europeans?

Is race a biological or a social/cultural construct in America? Does the one-drop (of blood) rule suggest it's more cultural than biological? Why is a person with even a single drop of African blood considered Black even if he/she looks and acts white in every way?

Why is the fertility rate (TFR) among whites declining rapidly below replacement levels? Is it because the whites are feeling threatened by immigrants of color and not wanting to bring white children into the world? Or is it part of the worldwide declining trend that has cut Japan's TFR to 1.44? With total fertility rate of less than 2 children per American woman and declining, how long can the United States continue to maintain its primacy as an economic, political and military superpower? With the aging population and workers per retiree down to 2.9 already, how will the US government continue to honor its commitments of social security benefits to the elderly? Would liberal immigration from non-white countries help resolve these issues?

Is immigration good or bad for America? Are non-white immigrants helping or hurting America? Are non-white immigrants a threat to White America? Why is California with its 40% white population doing so much better than France with its 80% white population? Why does California with a population of 38 million have slightly bigger economy than France with its 68 million population? If you claim America is only for white Europeans, how would you react to the native Americans claim that America is only for them?

Viewpoint From Overseas panelists Ali H. Cemendtaur and Riaz Haq (www.riazhaq.com) discuss these questions with Jared Taylor, White Nationalist founder and editor of American Renaissance.

https://youtu.be/Z61ReQvXWGM

Related Links:

Haq's Musings

Are People of Color Less Intelligent?

Golden Age of Islam

Harvard Genetics Study of South Asians

Pakistan Population Growth: Blessing or Curse?

Massive Support For Muslims in Silicon Valley After Trump Ban

Minorities Are Majority in Silicon Valley

Silicon Valley Pakistanis

Rise of the West After Industrial Revolution

Thursday, June 16, 2011

Pakistan Wins Release of Indian and Pakistani Sailors

In a humanitarian gesture, Pakistan raised funds to help secure the release of 22 sailors, including 11 Egyptians, 6 Indians, 4 Pakistanis and a Sri Lankan. The sailors were held captive for ransom by the Somali pirates for over 10 months aboard a hijacked Egyptian vessel MV Suez. The ship is now sailing to freedom escorted by Pakistan Navy's PNS Babar after a second hijack attempt by Somali pirates. Pakistani ship came to the rescue of the Suez after the Indian Navy ignored its repeated calls for help, according to India's NDTV.

Of the $2.5 million ransom, the ship’s owner paid $1 million and the Ansar Burney Trust raised the remaining $1.5 million with the help of Pakistani officials, according to the Indian Telegraph newspaper.

The freed Pakistanis are the ship's captain Syed Wasi Hasan and crew Muzzamil, Mohammed Alam and Ali Rehman. Captain Wasi Hasan told Geo News that his captors had threatened to kill him. He thanked the nation and the media and particularly praised Ansar Burney for the role played in securing the sailors' release.

Acknowledging Pakistan's role, Madhu Sharma, whose husband N.K. Sharma was among the six Indians, said from Jammu: “If my husband is free today, it is because of the efforts of (Pakistani human rights activist) Ansar Burney and governor (of Pakistan’s Sindh province, Ishrat-ul Ibad)."

The gratitude was echoed by Sampa Arya the wife of sailor Ravinder Gulia, 30, in Haryana. “Burney raised funds with the help of the Pakistan government. The Indian government let us down. We met many leaders but nobody helped us. They said paying ransom is not the right way. I have lost all faith in Indian politicians,” she said.

Ravinder’s father Rajender Gulia said: “Pakistan has helped us like an elder brother and emerged as a saviour.”

Unlike the grateful relatives of the freed Indian sailors, India's foreign minister SM Krishna has not thanked Pakistan, and said, “Let us not get into a speculative analysis on who is behind it and who is provoking it.”

Altaf Husain, the leader of Pakistan's MQM party that is part of Pakistan's ruling coalition, has called upon India to reciprocate the Pakistani gesture.

"Pakistani organizations worked tirelessly to secure the release of the captive Indians as well, proving that Pakistan does not favor hostility but humanity," Muttahida Qaumi Movement (MQM) chief Altaf Hussain said.

"India must recognise this spirit and reciprocate with amity, not enmity," Urdu daily Jang Tuesday quoted him as saying.

Hussain said his comments were addressed to the entire Indian leadership including Prime Minister Manmohan Singh and Congress chief Sonia Gandhi. The mistrust between India and Pakistan must be overcome for a new relationship of friendship, he said.

Here's a video clip of Indian sailors' families thanking Pakistan:

Saturday, January 9, 2010

Stop Violence Against Indians in Australia!

There has been a slew of apparently racially-motivated attacks targeting Indians, resulting in the tragic stabbing death of a young Indian student Nitin Garg in Australia this week.

Last year also saw several vicious attacks on Indians, including the use of a petrol bomb thrown at an Indian young man sitting in his house, sending shock waves throughout the Indian community in Australia. Protest marches were organized in both Melbourne and Sydney. Spontaneous street rallies happened in Harris Park, a suburb of western Sydney with a large Indian population. The protests drew attention of the international media, with coverage in India especially widespread and critical of Australia. Representatives of the Indian government met with the Australian government officials to express concerns and demand that Indians be protected. The Prime Minister of Australia, Kevin Rudd, expressed regret and called for the attackers to be brought to justice. And yet, there seems to be no end in sight. Just yesterday, another student Jaspreet Singh was set on fire and he suffered 20 per cent burns including on his arms, chest and face.

Indian students make up the second largest group, after the Chinese, of foreign students in Australia for their graduate education. From 2004 to 2009 the number of Indians studying in Australia rose from 30,000 to 97,000 with 45,000 of these living in Melbourne, 32,000 in Adelaide and the remainder in Sydney, Brisbane and Perth, according to a Wikipedia entry. Some come from the rural parts of India, with most coming to Australia to seek permanent residency. The cost of living in Australian cities has made it necessary for many of these students to live in cheaper and more distant suburbs, where there is an increased risk of encountering violent crime.

In spite of the regularity of brutal attacks singling out Indian immigrants, the Australian authorities continue to downplay, even deny the racial angle. Unless such crimes are treated as hate crimes and seriously prosecuted and punished, it is likely that the crime wave will continue, and probably get worse.

These attacks are a reminder to all South Asians and others of foreign origins living in the West, including North America, Europe and Australia, that intolerance, racism and xenophobia are alive and well in many parts of the world. Xenophobia, in particular, continues to rear its ugly head in various forms, including antisemitism and Islamophobia. We must condemn it in all its various forms in our own best interest.

Let me conclude with a famous poem by Pastor Martin Niemoeller:

First they came for the communists, and I did not speak out—
because I was not a communist;
Then they came for the socialists, and I did not speak out—
because I was not a socialist;
Then they came for the trade unionists, and I did not speak out—
because I was not a trade unionist;
Then they came for the Jews, and I did not speak out—
because I was not a Jew;
Then they came for me—
and there was no one left to speak out.

Related Links:

Peace, Not Prejudice at Berkeley

Quality of Higher Education in South Asia

Pakistani-American Elected Mayor in Washington

Edible Arrangements--Pakistani-American's Success Story

Pakistani-Americans in Silicon Valley

HDF Fundraiser in Silicon Valley For Pakistan

Pakistani Diaspora in America

Asian-Americans: Contemporary Trends and Issues

New York City's Pakistani Population

Pakistani-Americans in NYC

NED Alumni Convention Draws 400

NEDians Convention 2007 in Silicon Valley

Muslim Demographics in America

Pakistanis in America

Pakistani-Americans Wikipedia Entry

Illegal Immigration From India to America Hits 125%

Pakistanis Find US Easier Fit than Britain

Portrait of a Giving Community

India's Washington Lobby

Occupations of Pakistani-Americans--New York Times

Wednesday, April 1, 2009

Murder-Suicide in Silicon Valley's Indian Family

Five members of a South Indian family are dead in an apparent murder-suicide in Sunnyvale, CA. The 42-year-old Yahoo engineer, Devan Kalathat, aka Raghavan Devarajan, opened fire on his wife, his two children and his wife's brother's family who were all living in the same townhouse in Sunnyvale, and then turned the gun on himself.

According to media reports, Kalathat was a naturalized U.S. citizen who moved from India to Sunnyvale 15 years ago. Kalathat's wife, Abha, is reported in critical condition with multiple gunshot wounds in her upper body. Sunnyvale Police identified the dead victims as Kalathat's children: 11-year-old Akhil Dev and 4-year-old Negha Dev; Kalathat's brother-in-law Ashok Appu Poothemkandi, 35, Poothemkandi's wife, Suchitra Sivaraman, 25; and the Poothemkandis' infant daughter, Ahana Ashok.

In a story posted Tuesday, the Times of India had an interview with Kalathat's father-in-law, Appu Master, an 80-year-old retired schoolteacher, in Tamil Nadu. Master told the news organization that the shooter had a "quarrel" with Master's son, Poothemkandi.

Ashok Kumar Sinha of the Consulate Generals of India in San Francisco said it helped police notify relatives and will be working with the family to claim the bodies. Relatives from India and England are on their way to Sunnyvale.

There was another, similar incident involving an Indian family near Los Angeles, California, last year in Oct. Time magazine reported that police discovered the bodies of the Rajaram family in their home on Como Lane. Karthik Rajaram, 45, had shot his mother-in-law, wife and three children to death before killing himself.

Rajaram, a former financial analyst at PricewaterhouseCoopers and Sony Pictures, left two suicide notes — one for police and another for family and friends — and a will. "I understand he was unemployed, his dealings in the stock market had taken a disastrous turn for the worse," said Los Angeles deputy police chief Michel R. Moore. "This was a person who had been quite successful in this arena." Amid news of the global financial crisis and the credit crunch, this murder-suicide has become emblematic of the times — in its way parallelling the deathly plunges of Wall Street stockbrokers in 1929, reported the magazine.

While this murder-suicide is very tragic, the news of violent crime or deadly violence among South Asian-Americans in Silicon Valley is very rare. Most members of the community are well educated with solid middle class backgrounds. Many own their own homes and are known to be highly family oriented, sending their children to the best schools in the valley.

Related Links:

Bigotry Bedevils South Indian Eatery

Silicon Valley Job Cuts Hit H1B Workers

Musharraf in Silicon Valley

Pakistani American: Mr. Thirty Percent of Silicon Valley

Sir Syed Day Mushaira in Silicon Valley

Silicon Valley Summit of Pakistani Entrepreneurs

Saturday, April 26, 2008

Silicon Valley Pakistanis Hit By High Food Prices

The prices of rice, chappati, besan, daals, spices and almost all staples consumed by silicon valley South Asians have experienced triple digit price inflation during the last year. After reading about food price inflation and shortages of staple foods in their home countries, Pakistanis and Indians are now feeling the pinch in Silicon Valley as Basmati rice is in very short supply even with a 300% price jump. Jamsine rice, preferred by East Asians, has also disappeared from the grocery shelves at Costco stores. Costco management has decided to limit each customer to two bags of rice to control panic buying or profiteering.

Even with these dramatic price increases, the impact on their wallets from food price inflation is relatively small because Silicon Valley South Asians spend a much smaller percentage of their incomes on food than their friends and families in South Asia. Nonetheless, higher energy costs and the costs of various goods and services used by them everyday is causing them to be careful with their monthly budgets.

Many governments, including Pakistan's and India's, realize the possibility of civil unrest in the event of severe food shortages or famine, and some have taken minimal steps to ease the crisis in the short term, such as reducing import tariffs and putting export restrictions. On December 20, China did away with food export rebates in an effort to prevent domestic shortages. Russia, Kazakhstan, and Argentina have also implemented export controls.

According to reports from London this week, the executive director of the World Food Program, Josette Sheeran, warned that more than 100 million people will be pushed into poverty by a "silent tsunami" of sharply rising food prices. "This is the new face of hunger - the millions of people who were not in the urgent hunger category six months ago but now are," Sheeran said. "The world's misery index is rising."

The Bush administration, after sitting on the sidelines for months, is finally taking notice of the situation. The Washington Post reported today that the administration and Congress have been caught flat-footed by rapidly escalating global food prices and are scrambling to respond to a crisis that they increasingly view as a threat to U.S. national security, according to government officials, congressional staffers and human rights experts.

Among the major international concerns about "instability" leading to increased threats of "terrorism", the food price inflation and shortages of staples have now risen near the top. However, the $200m allocation by the US is much too small to deal with the global nature of this crisis. The Secretary of State Condoleezza Rice said the administration is planning “further steps to help ease the burden of rising food prices on the world’s neediest people.” Options include building more overseas storage facilities and roads to reduce food spoiling, and making the food crisis a top priority for the G-8 summit of industrialized nations in July, administration officials said. Top Senate Democrats, meanwhile, are pressing the White House to devote more money to emergency food aid — up from $350 million to $550 million — as part of a supplemental Iraq war budget package.

The consensus seems to be emerging in Washington that these are just the first steps toward a bigger commitment with a comprehensive strategy to follow soon.