Rags to riches

Forbes picked 250 individuals to celebrate as our "greatest living immigrants" on America's 250th birthday. Note that these are Forbes' choices, so over half of them are billionaires. You could guess who some of them are.

Why did they come to the US? In the magazine's words, "this is the place where people come to build a new life for themselves and their children." They did that, and they did much more.

"Rags to riches" stories do happen, and Jensen Huang can vouch for that. His parents sent him and his older 10-year-old brother - alone - from Thailand to Kentucky before they made the trip. Those early years were tough, the family poor and the boy lonely, cleaning toilets in local diners at night.

At the age of 30, Jensen and a couple of friends wanted to "build chips that can handle intense visuals for PC's." He had the vision to believe that "graphics chips would someday do far more than make video games look good." Two years later, their company Nvidia launched the first GPU.

Today he's the company's CEO as well as its co-founder, and Nvidia is the world's most valued company.

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from Tech Startups

Still investing

After months of talks, Louisiana's governor has announced that a new rocket launch center will be built along the state's marshy coast by the world's richest man, Elon Musk, a South Africa-born immigrant to America. (That is, by one of his companies.)

SpaceX will invest $100 billion into the facility and start launching rockets in three years. The site of 100,000+ acres will eventually include ten launch pads and, according to Elon, will be the world's largest launch site: a self-sustaining spaceport.

Louisiana will give tax incentives to SpaceX, which will give $25 million to the community for regional planning plus that sum in cash every year to Vermilion Parish for 25 years. The deal includes SpaceX hiring for 3,000+ new jobs at almost twice the average salary in the parish.

from NOLA

Makes yogurt 3

(cont'd from yesterday's post)

What a positive impact this immigrant made in his new country. Employees kept their jobs. They accomplished something big and had the joy of it. They built a new Little League field in town. For every new Chobani hire, ten more jobs were created in the town. Every one of them enjoyed new wealth. 

He didn't take a course on how to create vision or how to motivate his employees or how to draw up a business plan. As an intuitive, natural-born entrepreneur, he saw what needed to be done and kept doing it. 

Only a small percentage of people are willing to take big financial risk and put enough hard work into it to make it successful. Today he still invests time and money into the business, even billions of dollars.

Hamdi is another in the long tradition of immigrants who come to America and bloom in the liberty. 

Makes yogurt 2

 (cont'd from yesterday's post)

In his homeland of Turkey, Hamdi's nomad family lived in tents, raised sheep and goats, and made cheese and yogurt. Upon emigrating to the US, he judged that we had only inferior yogurt. He thought many Americans would buy his better product.

He bought an 85-year-old factory with borrowed money ($700,000) and had a meeting with four employees that he rehired. His only idea was to paint the walls white. Mike (one of the four) said, "Hamdi, tell me you have more ideas than that!"

To make enough money to keep this business operating, they would have to make and sell a lot of yogurt, at least enough to cover all their expenses and pay the employees. They did that. Eventually Chobani ("shepherd" in Turkish) captured half of the $8 billion yogurt market in America.

Only one hint of how they did it is given in yesterday's video: Hamdi and his original employees worked day, night, and weekends - for five years.

from Substack

(cont'd tomorrow)

Becoming US 2

(cont'd from yesterday's post)

Part of Hector's admiration for America, he says, is because he studied the historical record and compared outcomes among nations:

• no nation made a more dramatic internal break with slavery
• no country did more to secure the oceans and underwrite the prosperity of former enemies and allies alike
• our Constitution uniquely inspires "universal dignity"

He loves the First Amendment (image): "It assumes that human beings will disagree deeply--and refuses to grant the state authority to referee truth." What an important insight: governments consist of flawed people, the only kind there is. People can only be free where they are not forced to speak the government's "truth," where they can speak their consciences.

"To become an American citizen is not to inherit perfection. It is to inherit responsibility--to participate in a fragile, magnificent experiment that only survives if enough people remember why it exists, and what it asks of them. *

"America is not great because it is easy. It is great because it trusts its people with freedom [per Pres. John Kennedy] and demands that they be worthy of it. I can only hope to be."

* For more on this responsibility, read If You Can Keep It by Eric Metaxas

 from Substack