on a temporary or permanent basis. This has the effect of increasing the supply of labor in that nation's market. This type of labor importation may be advantageous. According to the National Venture Capital Association (NVCA), a registered political action committee, more than 25% of all startups responding to an NVCA survey, in the San Francisco Bay Area of the US in the last 15 years were "immigrant-founded" (most likely former or current H-1Bs). 40% of all publicly traded and venture founded companies in high tech manufacturing were started by immigrants. These account for more than half of all jobs in this sector. Conversely, the NVCA "American Made," publication makes little mention of US born co-founders, makes an errant claim that Intel has an immigrant founder, resulting in a faulty claim of the following companies employing more than 245,000 people in 2005: Intel (co-founders: Gordon Moore-US, Robert Noyce-US) Sun Microsystems (1982-2010) (co-founders: Vinod Khosla-India, Andy Bechtolsheim-Germany, Bill Joy-US, Scott McNealy-US) Google (co-founders: Larry Page-US, Sergey Brin-Russia) Yahoo! (co-founders: David Filo-US, Jerry Yang-Taiwan) eBay (founder: Pierre Omidyar-France) Previous studies authored by Stuart Anderson, of the National Foundation for American Policy, had been careful to make the distinction of, "...founded or co-founded..." whereas the National Venture Capital Association uses the term, "immigrant-founded" 55 times in its 39-page document. The publication's data tables disclose only the names of "immigrant-born founder or cofounder"; American born co-founders, and the number of American co-founders, are omitted. Additionally, according to Intel Corporation (99,900 employees), Hungarian born CEO Andy Grove was not an Intel co-founder. Immigration Impoverished labor moves towards capital in prosperous nations. This tends to increase the supply of labor relative to capital in the prosperous nations and potentially decreases wages, according to the laws of supply and demand (of and for labor). However, this decrease can be offset by job creation due to talented immigrants, as discussed in the last section. See also Balance of trade Absolute advantage Global workforce Notes Arbitrage International trade Global workforce Offshoring Economic globalization