Do newborns lose the hair they were born with?

My son was born with such beautiful, thick hair! He's always getting compliments. But my MIL said enjoy it while it lasts because it all falls out. Is that true? He's 3 weeks and no sign of hair loss yet.

Bonus question: if he does will it grow back the same? His hair's straight but he's mixed (black and white) so I'm curious what it will look like.

Vote below to see results!