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The Founder Visa (again)

blog.samaltman.com

61–70 of 198 posts

Re: The Founder Visa (again)

#61
post #51

Hey, sam, great idea... how about you ask the US to give these 100 visas to ANOTHER firm first, if you really believe it. Otherwise, you sound like a selfish douche.

From the HN guidelines:

> Be civil. Don't say things you wouldn't say in a face to face conversation.

> When disagreeing, please reply to the argument instead of calling names. E.g. "That is an idiotic thing to say; 1 + 1 is 2, not 3" can be shortened to "1 + 1 is 2, not 3."

Re: The Founder Visa (again)

#62
post #41
post #27

The part of this that really worries me is that would-be founders, after making their pitch, are now waiting to find out if the investors have bestowed the right to live and work in the US upon them. I understand that it is complicated. The US only takes about 1.2 million immigrants legally into the country every year, and because of our emphasis on family reunification, this means that startup founders may not get o…

It shouldn't be the only way to get a (nonimmigrant in this proposal, incidentally) visa. But I really do believe it should be one way--it's hard to argue that more startups would hurt the economy. I agree with you that there is a level of discomfort inherent in letting investors influence who gets visas, but honestly they know more about what startups have a chance at great success than government officers.

To me, a necessary (but not sufficient) condition would be a powerful "sunshine" clause. Companies and individuals who are empowered to bestow US residency can't operate in secret.

Re: The Founder Visa (again)

#63

It's crazy to me that countries like Chile are courting (read: begging) entrepreneurial talent and the US acts like we can throw a wall up around the country and pretend like that's still a good thing. NOT allowing a few thousand talented, motivated, educated, english-speaking entrepreneurs seems foolish.

Many of the millions of unemployed US citizens/voters would argue that there are a few thousand talented, motivated, educated, english-speaking entrepreneurs in their ranks from which YC can choose.

[deleted]

Re: The Founder Visa (again)

#64
post #22
post #8

Here is a counter proposal: the government should approve this request, but stipulate that the immigrants relocate to somewhere other than silicon valley (so all of the created jobs don't end up in the once place where they aren't needed).

1) You can't just allocate the startups in arbitrary locations and get the same result -- being in SV changes the outcome. (I've tried to start companies elsewhere.) 2) People benefit from Google, Facebook, Airbnb, etc., even if they're not in SV. The immediate job creation is a tiny fraction of the wealth created by startups. It doesn't matter where Bell Labs was located; it just matters that they did what they did.…

If the issue really is that SV specifically needs more people to start companies, and having them do so elsewhere isn't possible or desirable, it seems like a first cut at solving the problem could be made without even changing visa regimes: just institute a program to convince more people from elsewhere in the U.S. to move to SV and start companies. With >300m people, most of whom don't yet live in the SF Bay Area, that's already a pretty large supply to draw from.

Re: The Founder Visa (again)

#65

I know it's somehow all about meeting people in bars in Silicon Valley, but really, is it totally absolutely necessary to come and live in America to start a new world beating company? I work remotely, and do a fair job with my colleagues. Other more talented people work and produce entire operating systems while on different continents, and if you are working on something more worthwhile and less fad driven than Fac…

The post is addressed to the US government. The US government by definition has the interests of America first and foremost in mind, not the interests of other countries. It is in America's interest to have all the world beating companies started in America.

Re: The Founder Visa (again)

#66
post #17
post #9

Some points on my mind: a) Most adventurous student entrepreneurs don't really MUST need a founder visa, they can use OPT. I think founders of Stripe did that. b) Most non-immigrants already working (mostly with H1 visa) needs a founder visa. To work on a startup you founded in H1b visa is hard, consider H1b visa needs some funding/salary requirement on your startup, and that is hard to get by on the early stage of a…

> a) Most adventurous student entrepreneurs don't really MUST need a founder visa, they can use OPT. I think founders of Stripe did that. Founder of Stripe here. Not disagreeing with anything you've said, but I feel I should point out that OPT is far from ideal: it doesn't last very long, it requires the job is related to the field of study, full-time work is permitted only during vacations prior to completion of a d…

It's also a MASSIVE pain, and some schools (like mine) only allow OPT for internships (as opposed to CPT). As a result, I need to choose if I want to intern for my four years of college, or if I want to start a startup.

Re: The Founder Visa (again)

#67
This is a great idea, can I do this too?? The government can give me 100 visas to allocate, and I'll give them to international entrepreneurs whom I consider to be deserving and who incidentally and in a totally non quid-pro-quo fashion agree to sell me a 7% stake in their companies for a nominal fee.

I'll also buy them pizza once a week, if that sweetens the pot.

Re: The Founder Visa (again)

#68
post #51

Hey, sam, great idea... how about you ask the US to give these 100 visas to ANOTHER firm first, if you really believe it. Otherwise, you sound like a selfish douche.

From the HN guidelines: > Be civil. Don't say things you wouldn't say in a face to face conversation. > When disagreeing, please reply to the argument instead of calling names. E.g. "That is an idiotic thing to say; 1 + 1 is 2, not 3" can be shortened to "1 + 1 is 2, not 3."

Sorry for saying "douche", but depending on the tone in which he presented this idea to me, I might honestly say that. It's one thing to ask for 100 visas for YC, it's another thing to ask for 10 VCs spread across 10 different firms, and suggesting hat YC would take most of the burden of setting it up / distributing resources.

Re: The Founder Visa (again)

#69
YC has proven that it is capable of returning results that beat the market. Few other incubators are able to replicate the success of YC. As an incubator, it is an outlier. Is an outlier a good "control" sample to prove that this reform works?

Startup visa reform is a necessity, clearly. Founders have the opportunity to make a strong positive impact on jobs, etc. I'd love for YC to be able to work with additional talented founders. No question, I am all for giving YC access to founder visas.

Question: Would a successful beta program at YC prove that the program works? Or would it prove that YC works? If the latter, is there an alternative "beta" program that would be more representative necessary for large scale reform?

Re: The Founder Visa (again)

#70
post #56
post #41

Earlier quoted context omitted.

It shouldn't be the only way to get a (nonimmigrant in this proposal, incidentally) visa. But I really do believe it should be one way--it's hard to argue that more startups would hurt the economy. I agree with you that there is a level of discomfort inherent in letting investors influence who gets visas, but honestly they know more about what startups have a chance at great success than government officers.

Is there any way to use the existing EB-5 Immigrant Investor visa? http://www.uscis.gov/working-united-states/permanent-workers... As far as I know, to qualify for an EB-5 you need to invest at least US$1M and create 10 jobs within 2 years. It might be a dumb idea, but could investors invest in an entity owned by a foreign founder, who would turn around and repatriate the investment in a US "new commercial entity", a…

I don't think so. From 8 CFR 204.6

Capital means cash, equipment, inventory, other tangible property, cash equivalents and indebtedness secured by assets owned by the alien entrepreneur, provided that the alien entrepreneur is personally and primarily liable and that the assets of the new commercial enterprise upon which the petition is based are not used to secure any of the indebtedness.

For that to work, I think the VC would have to unconditionally give the founder the $1M which is obviously not going to happen.

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