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US visa freeze is latest reason to build remote-first – TipsClear
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While the American tech industry constantly tries to do business with the rest of the world, this week it became even more entangled in national politics. High-skill immigration visas have been suspended by the Trump administration until the end of the year, preventing thousands of current and future startup employees and founders from coming to the US and building companies here.
Instead, suspension is another boom for the global remote work trend that was already a thing for many of us in this decade, which has been pushed into the mainstream just because of the epidemic. To try to find great people to hire anyone, next funding checks or new markets, virtual solutions are often the only solutions available today.
Our resident immigration law expert, Sophie Alcorn, is covering the issue in depth this week, including an explainer about the important role of immigration in the economy for TipsClear, and for additional crunch, if you do An overview. Impressed again. For clients, it also wrote about the impact of Trump’s termination of DACA by the Supreme Court.
On a personal note, our global editorial staff is eager to start our global events program as soon as possible, regardless of these national political issues. We are here for the startup world. In the meantime, here’s Alex Ames on how we’re adding virtual decipline attendants this year.
New York technology after the epidemic
Large industries and big city facilities have made New York City that is going to help push it forward as more people and jobs are visible away from city centers. I defend myself from reading at least the 11 investors that Anthony Ha talked about in an additional crunch poll this week about the future of Startup Hub. First of all, even if you can work from anywhere, millions of people will love the place that New York is – with the big city housing supply, networking opportunities and facilities to attract people as before. Second, many major industries such as finance, real estate, enterprise software, healthcare, media and other consumer products are not dying, but are being reinvested, and appear to be maintaining their centers in the city. Here’s Alexa von Tobel of the inspired capital:
I have seen NYC grow as a powerful startup hub over the past decade, and I think the momentum will continue. Now that we have come to know that high productivity is indeed remotely possible, we expect companies to retain some element of a remote workforce within their hiring plans. But for their early stage startups, I think you have the power to build a business as well as sit. When the founders are doing their first job and thwart their first deals, NYC remains an incredible place to do so.
Some of those industry reinvestments are more exciting than others. In a separate survey, Anthony spoke to 5 investors who focused on advertising and marketing technology … The good news is that advertising and marketing costs are falling and technology-driven efficiency is improving for the world. is. For the founders in the space, however, the challenges have only increased as the epidemic has forced more advertising budget cuts for changes on the largest platforms. As John Elton of Greckeroft put it:
Only the next technology breakthrough will provide fertile ground for the next wave of innovation, the way mobile and internet breakthrough gave birth to today’s giants. Perhaps machine learning is that type of success, so we are seeing companies that use machine learning to dramatically improve what is possible in the space. The point is that machine-learning players are also very good, so it may not be a technique that provides the same opportunities for loss as before.
VC talks of investing beyond the financial bubble
Tim O’Reilly has been going through a very different route to Silicon Valley in recent years. While his publishing company, series of conferences, essays and investments, have helped shape the modern Internet for decades, he says venture capital has gone wrong. More from an interview with Connie Loizos on TipsClear this week:
[I]Investing in Silicon Valley for a long time has really disenchanted. It reminds me of Wall Street until 2008. The idea was, until someone wants to buy it [collateralized debt obligation], We are good. ‘No one is thinking about this: is it a good product? So many things that the chancellors have created are actually financial instruments like those CDOs. They are not really thinking about whether this is a company that can save on revenue from its customers. The deals are designed entirely around an exit. As long as you can find some sucker to take them, [you’re good]. For example, many acquisitions fail, but the VC is happy because – guess what? – They find their exit.
His firm, O’Reilly AlphaTech Ventures, has instead focused on funding founders in recent years creating a product that is valued by customers and generates sustainable cash flow on terms that encourage organic growth .
They wrote your first check
Last week we launched a new effort to uncover investors who were about to return your big and (increasingly) successful idea. It has received excellent response so far. From Danny Crichton:
Well, in just a few days that the TipsClear community came through, we have already received over 500 offers from the founders, who recommend the chancellors who wrote their first check and who are exclusively fundraising And have been helpful in closing a round.
If you have not submitted a recommendation, Please help us using the form given here.
A short survey takes five minutes, and equipped with the right intelligence can save founders dozens of hours. Our editorial team is carefully processing these submissions to ensure consistency and accuracy, and the more data points we have, the better the list can be for the founders.
For answers to the most frequently asked questions, see Danny Crickton’s full post at Tech Crunch.
Throughout the week
A Look at Technical Pay and How They Can Change as More Employees Go Remote
Apple will soon challenge developers App Store rules
China’s GPS competitor is now fully launched
The two-year review flag of GDPR lacks vigorous enforcement
Exchange: IPO season, self-driving misfire and a fintech letdown
What happened wrong with Bibi?
Approach Four: Will Apple Trim App Store?
4 enterprise developer trends that will shape 2021
COVID-19 Workplace Ideas
Plades Zach Parrett: ‘Every company is a fintech company’
Volcker rule reforms expand options to increase VC funds
Register for next week’s pitch and pitchers session
Join GGV’s Hans Tung and Jeff Richards for a live Q&A: June 30 at 3:30 pm EDT / 12: 30 pm PDT
Howbie Liu of Airbelt asked us to join the disorganized 2020
Zoom founder and CEO Eric Yuan will speak on the chaos in 2020
How to Supercharge Your Virtual Networking on Disrupt 2020
From Alex Wilhelm:
Hello and welcome back to Equity, TipsClear’s venture capital-focused podcast, where we unpack the numbers behind the headlines.
This week was a bit of a struggle, but only because Danny Crickton and Natasha Mascarenhas and I were all in very good spirits. It would not be difficult, given how much good stuff there was to chew on.
We closed with two funding rounds from companies that had received a headwind from COVID-19:
However, those two rounds represented just one side of the COVID coin. There was also a COVID-tailwind riding companies to the tune of new funds:
But we had room for another story. So, we talked a little bit about Robinhood, its business model, and recently the suicide of one of its users. This is a terrible moment for the family of the human we have lost, but a good moment for Robinhood to be somewhat hated about how his ministry works.
How far the company will go, however, will be interesting to see, limiting access to some financial tooling. The company generates a lot of revenue from its order-flow business, and options are a significant part of those income. Hence Robinhood is balancing the need to protect its users and make money from their actions. It will be quite interesting how they thread this needle.
All of that and we had a lot of fun. Thanks for tuning in, and follow the show on Twitter!