Earlier quoted context omitted.
Not my experience in big tech and HFT. We spent a ton of time and effort trying to find anyone to our standards, never able to find enough. H1B (and other work visas) were generally better and more Sr compared to locals we found. They got paid as much or more than everyone else. When we had great people we could not get here we would instead build a team overseas, taking a bunch of other jobs with them.
Looks like there is need for 2 separate visa categories: - One to bring top 0.1% talent from across the globe to the US - Another to bring in temporary talent as needed Current version of H1B had become a big basket to hold both, and abused too for just finding cheaper labor. It may be time to segment these out. Also, given that US has ~400 million local citizens, there should be less need for either.
Now the question is whether the US wants another visa category for finding cheap labor. I am not sure that is either needed or desired (by voters). Maybe with the exception of agriculture