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by maga2020 3189 days ago
Because they are often fair weather friends with no particular loyalty or allegiance to the USA or our values, and will flee for their home country as soon as convenience dictates.

Just like with other aspects of the labor market (agriculture, hospitality) where illegal immigration undercuts Americans, VCs are doing labor market arbitrage and are importing cheaper "founders" who essentially become visa hostages. It doesn't benefit anyone except the silicon valley elite, who also run this site, incidentally.

3 comments

I am surprised you think that uprooting your entire living and moving to a different country is that easy: I mean do you do that for convenience sake even inside the USA?

These are people (including me) who come in here and build a bunch of local connections. Turning it personal, Our kids go to school here. I own a house here. I have a ton of friends here. I pay taxes and donate/volunteer when I can. I ride bicycles everywhere if that matters. (No I am not blue/democrat because I can't vote :).

You are also touching on other issues like visa hostages. Most of those people who feel that they are in a 'hostage' scenario can go back anytime they want but most of them choose to stay. I say most because there are definitely a few who can't but whatever.

In my case, I could've stayed back in India and worked for similar companies (Both my prior companies have a big presence there), but here is where I want to be. Now you can say me being here ONLY benefits my employer or elites, but I definitely don't think of that way: I think of it as an incredible opportunity and like any other big-system process, it has its troubles. ¯\_(ツ)_/¯

VCs are free to invest in foreign based companies, so that would be the best arbitrage. Its in the interests of the US to maintain the strong network that already exists.

I am not sure how essential is this visa category, since there are other categories most founders would qualify under.

> Because they are often fair weather friends

No different than any other capitalist investor!

And the neoliberal class are highly mobile, they are rootless people and no one can really ever forget that.