This is a useless “technically correct” rejoinder. Yes, the top 500 would by definition still have 500 companies in it. Yes, the net value of the s&p would almost certainly be lower without the innovation brought by immigrant founders. Which is obviously the point being made.

H1B started in the 90s, when the economy was at all time highs, and since then growth has been less impressive.

It is your comment in fact that decided to assume I missed the point, while assuming something that’s almost certainly not easy to assume.