Immigrants can expand labor supply and compete for jobs with native-born workers. But immigrants may also start new firms, expanding labor demand. This paper uses U.S. administrative data and other data sources to study the role of immigrants in entrepreneurship. We ask how often immigrants...

The past few decades have seen a significant increase in the acquisitions of startups by incumbents. As these acquisitions can enhance the incumbents' market power, they have raised concerns regarding their potential anti-competitive effects. By incorporating a dynamic perspective, this study...

In this report, we assess the economic impact of MIT alumni-founded companies between 1950 and 2014. We estimate that MIT alumni have launched more than 30,000 active companies that employ roughly 4.6 million people and generate $1.9 trillion in annual revenues, which is approximately the size...

This study investigates the effectiveness of high-tech startup acquisitions as a hiring strategy (“acqui-hiring”) versus traditional hiring. Using population-level data from US Census, I find that acquired workers exhibit significantly greater rates of turnover than regular hires, especially...

We explore the role of founding teams in accounting for the post-entry dynamics of startups. While the entrepreneurship literature has largely focused on business founders, we broaden this view by considering founding teams, which include both the founders and the initial employees in the first...

Many observers, and many investors, believe that young people are especially likely to produce the most successful new firms. We use administrative data at the U.S. Census Bureau to study the ages of founders of growth-oriented start-ups in the past decade. Our primary finding is that successful...

While startups are the center of extensive policy discussion given their outsized role in job creation, it is not clear whether they create high quality jobs relative to incumbent firms. This paper investigates the wage differential between venture capital-backed startups and established firms,...