A dozen years ago was 1997. Do you seriously think this is true?
"With the importation of so many engineers into the US, wages were suppressed..."
You seem to think that white Americans work hard to "create" jobs, which are then "stolen" by hordes of immigrants. In other words, white Americans "give" and immigrants "take". That's just not how it works.
Immigrants in SV are on average smarter and work harder than Americans - not because there's something wrong with Americans, but because these immigrants are a highly biased sample of the world's huge population.