Originally posted on BusinessSuperstar.com.
Paul Hsu arrived in the United States from Taiwan in 1976 with $500 in his pocket. In the years since his arrival, he has managed to keep himself more than a little busy.
How busy has he been? Well, since 1976 he earned a Master’s in Industrial Management and Systems Engineering from the University of Central Missouri and a Ph.D. in Engineering Management from LaSalle University, he founded five companies, was inducted into the Small Business Administration’s (SBA) Hall of Fame, received the Corporate Stewardship Award from the U.S. Chamber of Commerce, was appointed by President Bush in 2007 as the Associate Administrator of the SBA’s Office of Government Contracting and Business Development, was appointed by President Obama in 2010 to to the National Advisory Council on Minority Business Enterprise, and became a senior research fellow at the Harvard University Asia Center.
He is also authored a new book titled Guardians of the Dream: The Enduring Legacy of America’s Immigrants. Published by Maxwell Publishing LLC, Dr. Hsu’s book details his extraordinary life and career while considering the bigger picture of the role played by immigrants on the American entrepreneurial culture. Dr. Hsu took time from his busy schedule to discuss his book with us.
Q: What was the inspiration behind your new book?
Dr. Paul Hsu: Guardians of the Dream has been in the making for several years, perhaps even my entire life. Over the years I devoted most of my time to building my businesses and furthermore in a public service role through several presidential appointments. About five years ago I was watching a parade in California with my family and I watched as 4 or 5 young men came along in the parade carrying a banner that read, “The American Dream is Dead.” Everything I have worked for since coming here as a young immigrant with only $500 but rich with a hope for my future in America – all that I have accomplished, I owe to the greatness of the American Dream.
I was struck that day with the duty to share my own story – because I know that I am living proof that the American Dream is alive and well. Guardians of the Dream is both my personal story and the story of America. Opportunity exists all around us in this great country for those willing to work to achieve it. I felt compelled to share my message to others, but most especially to young people. I hope to enlighten their thinking and inspire the entrepreneurial spirit that impassions so many immigrants to be successful here.
Q: You are the embodiment of the American dream: arriving here as an immigrant with little money and working your way up to professional and financial success. But you came to the U.S. in 1976 and enjoyed a very different U.S. from today’s economic environment. Do you believe it is still possible for immigrants to come to the U.S. with little funds and ultimately achieve professional and financial success?
Dr. Paul Hsu: Yes, success is realized through recognizing opportunities and working hard. There have always been economic and political strife in our country’s history. The challenges we have faced as a young nation have never limited the opportunity that exists here. We are an incredibly successful country on the cutting edge of industrial achievement. We boast a nearly $16 trillion GDP, far greater than any other in the world. How can the American Dream be dead?
Q: Federal immigration reform has stalled for years. In your opinion, what is keeping this from becoming a reality?
Dr. Paul Hsu: These matters can be tricky for our country because while we may feel resistant to some of the concerns of expanding immigration to those that are here illegally, we are a nation of immigrants and first generation immigrants represent a population that greatly stimulates the economy here. People may view immigrants as the takers, but in reality if you look at the facts, they are the makers of prosperity and hope. They are more likely to start a business and they are often the successful innovators that make America a global leader.
Do you realize that 50% of our graduate engineering students are foreign nationals? If we don’t find ways to expand the H-1B visas, we risk losing the best products of our education system and then they leave and perhaps become our competition. I also think expansion of programs like the Dream Act just make sense in this country. If a child has lived most of their life in America, graduated from our high schools and are seeking higher education or to serve our country in the military, how can we send them away to live in a foreign country? I support responsible border controls while making reasonable reforms to our immigration policies and hopefully our policymakers will look at the issues seriously.
Q: In what segments of today’s U.S. economy are immigrants making profound contributions?
Dr. Paul Hsu: In industry and technology, immigrants are at the heart of prosperity and innovation. 30-35% of engineers and scientists are immigrants. Latino populations are responsible for $2 trillion in purchase power. The founders of our greatest innovative companies from Google to eBay, Intel to Sun Microsystems were immigrants. According to Forbes, 40% of the nation’s top companies were founded by immigrants or their children, and this trend dates back to the 1800s. They are uniquely positioned to be ambitious because they already appreciate the opportunities that attracted them to this country.
Q: Are you planning any additional books?
Dr. Paul Hsu: I cannot say what publishing projects lie ahead, but Guardians of the Dreamhas certainly allowed me to reach out with my message in hopes of changing the cloud of negative thinking, while encouraging an entrepreneurial spirit. I hope to encourage young people in America to follow their dreams and work hard to achieve success. The American Dream is alive and well. They are the future of our country. That’s the real message inGuardians of the Dream.
