Since 9/11 a lot of foreign students were having second thoughts about studying in the States due to the difficulties in obtaining visas. Top-notch engineers or software designers didn’t need to come to Silicon Valley anymore to find work or get financing for a start-up. High-tech firms were setting up operations in India and China at a rapid pace, and venture funds were now global; they would just as readily invest in Mumbai or Shanghai as in California. And over the long term, David explained, that could spell trouble for the U.S. economy.
