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Elon Musk & other immigrants founded 55% of America's unicorn companies Elon Musk & other immigrants founded 55% of America's unicorn companies

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Elon Musk, other immigrants founded 55% of America’s unicorns

(Credit: XPRIZE)

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Immigrants such as Elon Musk have started 55% of America’s unicorn companies according to a new study from the National Foundation for American Policy (NFAP).

These startups are valued at $1 billion or more and nearly two-thirds or 64% of U.S. billion-dollar companies were founded or co-founded by immigrants or children of an immigrant.

The study noted that almost 80% of America’s unicorn companies have an immigrant founder or an immigrant in a key leadership role like CEO or vice president of engineering.

The importance of immigrants like Elon Musk to America

Stuart Anderson, the author of the study and NFAP’s executive director said that the research shows the importance of immigrants in cutting-edge companies.

“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 pushed talent to other countries for talent.”

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“The story of immigrant entrepreneurs and billion-dollar companies is not only about impressive numbers but about immigrants coming to this country, working hard, and achieving the American Dream.”

Researchers interviewed and collected information on over 580 U.S. startups valued at over $1. billion that as of May 2022, weren’t publicly traded on the U.S. stock market. The collective value of these companies, of which over 300 are immigrant-founded, is $1.2 trillion.

To put this into perspective, this is more valuable than all of the companies in the main stock markets of many countries such asArgentina, Columbia, and Mexico.

10 Immigrants or children of immigrants who started unicorn companies.

NFAP found that the top ten immigrants or children of immigrants who founded multi-billion dollar companies are:

  1. Al Goldstein (born in Uzbekistan, Avant and Amount)
  2. Noubar Afeyan (Lebanon, Moderna and Indigo Ag)
  3. Ignacio Martinez (Spain, Indigo Ag, and Inari)
  4. Elon Musk (South Africa, SpaceX, OpenAI, and The Boring Company)
  5. Mohit Aron (India, Nutanix, and Cohesity)
  6. Ashutosh Garg (India, Bloomreach, and Eightfold.ai)
  7. Ajeet Singh (India, Nutanix, and ThoughtSpot)
  8. Sebastian Thrun (Germany, Cresta, and Udacity)
  9. Ion Stoica (Romania, Databricks, and Anyscale)
  10. Jyoti Bansal (India, AppDynamics, and Harness)

You can download the full report here.

 

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Elon Musk

Tesla’s Elon Musk shares optimistic teaser about FSD V14: “Feels sentient”

FSD V14 is arguably the second biggest update to Tesla AI/Autopilot after the release of V12, Musk wrote.

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Credit: Tesla Europe & Middle East/X

Tesla CEO Elon Musk has provided a rather exciting teaser about the capabilities of Full Self-Driving’s (FSD) upcoming V14 update. 

As per Musk, V14 is arguably the second biggest update to Tesla AI/Autopilot after the release of V12, which started its initial rollout to Tesla employees way back November 2023.

Tesla FSD V14

Elon Musk has been teasing the capabilities of FSD V14 in recent weeks. Earlier this month, the CEO shared that FSD V14 will feature a 10X higher parameter count, and it will also nag drivers significantly less than the system’s current iteration. While FSD V14 is not Unsupervised FSD, which is being used in the Austin Robotaxi pilot, it is expected to be a significant improvement nonetheless.

“The FSD release in about 6 weeks will be a dramatic gain with a 10X higher parameter count and many other improvements. It’s going through training & testing now. Once we confirm real-world safety of FSD 14, which we think will be amazing, the car will nag you much less,” Musk wrote in his post.

“Feels sentient”

Musk recently shared some more details about FSD V14 on X. In response to a video of a William Blair analyst who mentioned that Tesla’s Robotaxi service felt a lot more like a person was driving it compared to Waymo’s robotic maneuvers, Musk noted that “Version 14 of Tesla self-driving fells sentient.”

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Musk also clarified that the system that the William Blair analyst experienced was Version 13, so the system’s performance will definitely get even better. “He was just on version 13. Version 14 is the second biggest update to Tesla AI/Autopilot ever after V12. It feels alive,” Musk wrote in his post.

Musk’s comments bode well for the rollout of FSD V14. So far, FSD has reached a point where drivers and passengers have commented that the system already operates a vehicle in a very cautious and humanlike manner. Having a system that feels “sentient,” as the CEO noted, would most definitely be game-changing.

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Tesla Model Y L attracts crowds across China stores

The Tesla Model Y L is shaping up to be a big hit in China.

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Credit: @thaichiminh1907/X

Tesla has officially rolled out the Model Y L, a six-seat variant of its best-selling SUV, across all showrooms in China, and it is getting a lot of attention from potential buyers.

Images and videos from Tesla stores in China show crowds of people checking out the recently released extended wheelbase all-electric crossover.

Model Y L details

The vehicle, which carries a starting price of RMB 339,000 ($47,180), went live in Tesla China’s configurator this week. Deliveries are scheduled to begin in September, and early media reviews have already been released following the lifting of an embargo.

Unlike a full model refresh, the Model Y L is positioned as a new variant within the existing Model Y lineup. It joins the five-seat rear-wheel drive (RWD) and long-range all-wheel drive (AWD) Model Y variants currently available in China.

The six-seat Model Y L features dual-motor all-wheel drive, a 0–100 km/h time of 4.5 seconds, and an 82.0-kWh battery pack from LG Energy Solution. Its CLTC-rated range reaches 751 km, the highest among Tesla’s Model Y trims.

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So far, the reception to the Model Y L appears to be very warm, with photos and videos of stores in locations such as Shanghai and Shenyang showing numerous people checking out the recently released vehicle. Reports from industry watchers in China also suggest that Tesla received about 35,000 orders for the Model Y L on its first day of release.

Market backdrop

The timing of the Model Y L’s release comes as Tesla faces headwinds in China’s competitive SUV segment. Between January and July, Model Y retail sales in the country reached 202,257 units, a 17.15 percent decline compared to the same period last year, according to data cited by CNEVPost. It should be noted, however, that a good portion of this decline was due to the retooling of Tesla’s factories to make way for the new Model Y.

Despite the slowdown, the Model Y remains one of Tesla’s strongest performers globally. By introducing a higher-range, six-seat option, Tesla appears to be positioning the Model Y L as a way to boost demand and appeal to new buyers in a market that was previously only accessible to the much more expensive Model X.

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Tesla Model Y L gets disappointingly far production date in the United States

Fans of the extended wheelbase six-seater in the United States are in for a long wait.

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Credit: @TeslaNewswire/X

The Tesla Model Y L is making a lot of waves in the electric vehicle community, but fans of the extended wheelbase six-seater in the United States are in for a long wait.

This was, at least, according to Tesla CEO Elon Musk, who provided a disappointingly long timeline for the Model Y L’s production in the United States.

The Model Y L

The Model Y L has received near universal acclaim from electric vehicle enthusiasts and auto reviewers in China alike. Priced at just RMB 339,000 ($47,180) and fitted with a spacious and comfortable cabin, the Model Y L seemed destined to become a segment killer. And since the vehicle is also produced in Tesla’s existing Model Y lines, it seemed like the vehicle would be released worldwide soon. 

It was then no surprise that many Tesla community members were keen on asking if the Model Y L will be released in the United States anytime soon. Others also wondered why CEO Elon Musk was very quiet about the vehicle despite all the buzz it was generating. Eventually, Musk did share an update about the Model Y L, but it was not what many expected.

Elon Musk’s update

Amidst the conversations on X about the Model Y L, longtime FSD tester Whole Mars Catalog noted that Elon Musk would not be saying anything about the vehicle until its international release, likely because he would like to avoid an Osbourne Effect on the standard Model Y. Tesla’s sales today are still highly dependent on the standard Model Y, after all, as it is the company’s best-selling vehicle.

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Musk responded to the FSD tester, stating that the Model Y L will not start production in the United States until the end of 2026. He also noted that the vehicle might not even make it in America at all, considering Tesla’s focus on self-driving. “This variant of the Model Y doesn’t start production in the US until the end of next year. Might not ever, given the advent of self-driving in America,” Musk wrote in his post.

Musk’s post was received with much disappointment from many X users, some of whom joked that the CEO was risking alienating families with three kids with his comments. The Model Y L, after all, is a legitimate family car that can comfortably seat six, and it seemed like a vehicle that Musk would prioritize considering his stance on people having bigger families. Of course, the CEO might still just be preventing an Osbourne Effect with his comments, but it’s difficult to deny that a 2026 U.S. production date for the Model Y L is still disappointing.

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