Confounded by the fact that succesful companies are located in growing areas (or move there), which is where immigrants also want to go. E.g. San Francisco.
I want to see this with some serious attempt to reduce the confounding.
Also it doesn't demonstrate cause and effect as stated in the quote. It's perfectly possible in this data that diversity makes companies less successful - but being successful in the first place is what creates the 'slack' that leads to a company pursuing diversity policies. They only go diversity when they can afford the cost incurred.
