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I thought a lot about it, and I think I found a simple solution: Keep the current h1b caps, and then auction off each visa to the highest bidder. The auction p

by DenisM 12y ago

I thought a lot about it, and I think I found a simple solution: Keep the current h1b caps, and then auction off each visa to the highest bidder. The auction proceeds must go to the employee in question, with jail term for anyone trying to claw it back. What this will do is drive the wages for the immigrant engineers ever higher, by extension raising the wages of Americans as well. It will also make sure only the best ones can be brought in, stopping the "cheap import" problem, and the higher wage will give the best incentive to come. Resultingly, foreign companies will be drained of talent, and American companies will become even stronger against weaker adversaries, and employing much of the best talent in the world.

LetBinding 12y ago
Except this will only help large employers like Google and completely screw startups. How do you compute wages when it is paid in terms of equity? 1% of Google was worth nothing in 1995. It's worth a lot today. How do you identify if a startup is the next Google when calculating wages for your auction? The only winners of your auction will be mega corps who will pay a huge salary upfront with no equity.
- DenisM 12y ago
  It's not a net loss for startups - the ones past series B can easily price their options. The earlier stage ones will be cut out, that's true. To be honest, any effort to raise wages will cause that effect, and it's no reason to oppose better pay for engineers. On the other hand, an immigrant, once settled, will accumulate wealth and eventually become a startup founder herself, without as much need for investment. That would be a boon for the earliest stage part of the ecosystem.
solomatov 12y ago
This won't work. H1B aren't only for software developers, but for different kinds of specialists. For example, doctors, who are having residency in US often use this visa. However, resident's salary is smaller than software developer's.
- mohanmcgeek 12y ago
  Indian doctors use J1 visas to come to the US, not H1B. H1B's are given chiefly Indian tech consultancy firms. The only other country that gets a decent number of H1B is China. I have the same idea. And I am looking for more arguments against the salary-bidding-visa scheme.

by DenisM 12y ago

LetBinding 12y ago

Except this will only help large employers like Google and completely screw startups. How do you compute wages when it is paid in terms of equity? 1% of Google was worth nothing in 1995. It's worth a lot today. How do you identify if a startup is the next Google when calculating wages for your auction? The only winners of your auction will be mega corps who will pay a huge salary upfront with no equity.

DenisM 12y ago
It's not a net loss for startups - the ones past series B can easily price their options. The earlier stage ones will be cut out, that's true. To be honest, any effort to raise wages will cause that effect, and it's no reason to oppose better pay for engineers. On the other hand, an immigrant, once settled, will accumulate wealth and eventually become a startup founder herself, without as much need for investment. That would be a boon for the earliest stage part of the ecosystem.

solomatov 12y ago

This won't work. H1B aren't only for software developers, but for different kinds of specialists. For example, doctors, who are having residency in US often use this visa. However, resident's salary is smaller than software developer's.

mohanmcgeek 12y ago
Indian doctors use J1 visas to come to the US, not H1B. H1B's are given chiefly Indian tech consultancy firms. The only other country that gets a decent number of H1B is China. I have the same idea. And I am looking for more arguments against the salary-bidding-visa scheme.