[dctoedt]

Not sure I understand your comment:

* The share of minorities doing startups being at an all-time high in developing countries -- are you referring to people who would be minorities here in the US but are majority in their own countries? How does that refute PG's point about the problem in the US being "upstream" of YC?

* I don't get at all what you're trying to say in your third paragraph, about the USA problem being directly tied to housing debt, etc. -- again, how does that refute PG's point?