CalMatters: Why visa reforms benefit not just California’s tech sector but the economy overall

CalMatters: Why visa reforms benefit not just California’s tech sector but the economy overall

super{set} Founding General Partner Vivek Vaidya and erstwhile GOP Presidential Contender Vivek Ramaswamy share little apart from the same first name. In this editorial for CalMatters, Vivek tears up Ramaswamy's short-sighted immigration policy and offers commonsense reforms to turn the H-1B program from a talent grab for Big Tech into an engine for startup innovation.

Vivek writes:

"The H-1B program can provide a pathway to success for the workers who come to the U.S. on the visa. I should know – a similar program changed the trajectory of my life. I’ve been able to create hundreds of jobs in the decades since.

Like so many government programs, the H-1B visa is well-intended but flawed in its current form. The reforms most urgently needed would be to increase the number of visas allocated each year and to prioritize employers offering the highest wages...But increasing the number of visas alone won’t solve the problem if corporate giants stay the course. If you look at the top companies sponsoring H-1B visas in 2023, it’s a virtual who’s who of Big Tech. According to the Economic Policy Institute, Meta employs so many H-1B workers that it has declared itself an “H-1B dependent” firm in government filings for years because more than 15% of its total U.S. workforce is H-1B workers.

The problem is clear, the policy institute noted, “Visa use is and has been highly concentrated among a small number of employers.” In other words, Big Tech is hoovering up all the talent.... Bipartisan support exists for reforms...."

Read Vivek Vaidya's 'Why visa reforms benefit not just California’s tech sector but the economy overall' in CalMatters