H-1B employee recommendation, managing distant groups, pitch deck teardown • TechCrunch

In response to layoffs.fyi, greater than 23,000 tech staff have been laid off up to now this month. For comparability, the positioning tracked 12,463 layoffs in October.

Fb’s mother or father firm Meta introduced the primary main job cuts in its historical past this week, eliminating 11,000 jobs. Like Twitter, Stripe, Brex, Lyft, Netflix and different tech corporations primarily based within the Bay Space, most of the staff impacted are immigrants right here on employee visas.

An sudden layoff introduces a component of chaos into anybody’s life, however when an H-1B employee loses their job, a really loud clock begins clicking: except they will land a brand new place or change their immigration standing inside 60 days, they’ll want to depart the nation. And since tech firms at each measurement are enacting hiring freezes and planning extra cuts, their means to reside and work within the U.S. is all of the sudden in query.

Earlier at present, I hosted a Q&A with immigration lawyer Sophie Alcorn for H-1B workers who have been laid off (or think they might be).

“You both get a brand new job, you permit or you determine another option to legally keep in america, however you must take some motion inside these 60 days.” Begin wanting now for brand new alternatives, she suggested, as it’s going to take new employers time to submit paperwork to U.S. Citizenship and Immigration Providers.

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“The perfect-case situation can be that this new firm information your new change of employer petition and USCIS receives the paperwork on or earlier than the 59th day since your final day of employment,” stated Alcorn.

“It takes not less than three weeks to arrange the whole lot,” which implies candidates and employers should transfer rapidly as the times rely down. “You most likely want a signed supply round day 33,” she stated.

Plenty of the data Alcorn offered was simply as related for hiring managers because it was for staff who’ve been laid off: any variety of elements can mix to additional complicate a course of that’s already onerous to puzzle out. For instance, what occurs to H-1B staff who get laid off whereas they’re in another country? Can getting married really clear up an immigration drawback? (Positively not!)

As a result of so many individuals have been laid off throughout a season when it’s historically onerous to land a brand new place, I requested Alcorn whether or not she thought the layoffs would trigger an exodus of tech expertise from Silicon Valley.

“The American Dream continues to be actually essential to immigrants,” she stated. “Lots of people are going to combat to discover a option to keep right here, even when it’s not essentially within the Bay Space with the excessive price of dwelling. They nonetheless need what America represents and so they’re going to reevaluate their relationship with Large Tech and the character of labor.”

3 suggestions for managing a distant engineering workforce

Three arrows going past a brick wall

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I as soon as managed an workplace the place the CEO and I have been the one two individuals who weren’t on the engineering workforce. We occupied a pod in a co-working area, so all of us sat round one massive desk.

Outdoors of our group lunches, the builders not often spoke to one another, as most communication befell through Slack, Jira and GitHub. At this time, that workforce works remotely.

In a submit for TC+, entrepreneur and angel investor Kuan Wei (Greg) Soh shared his prime recommendations for managing distributed engineering groups, which incorporates obligatory standups and not less than three hours every day when everybody is accessible to talk.

“We count on Slack messages to be replied to inside an hour, that everybody be reachable if we name them, and that we might work responsibly with our assigned companions,” he says.

Use IRS Code Part 1202 to promote your multimillion-dollar startup tax-free

Piggy bank with sunglasses on the beach at the seaside

Picture Credit: BrianAJackson (opens in a new window) / Getty Photographs

Founding groups often choose a company construction like an LLC or S-Corp, however those that hope to exit for $10 million for extra ought to contemplate beginning up as a Certified Small Enterprise (QSB) C-Company, advises tax lawyer Vincent Aiello.

Underneath IRS Code Part 1202, founders who maintain QSB inventory for 5 years or longer will probably be exempt from paying capital positive factors tax after a sale.

“It constitutes a big tax financial savings profit for entrepreneurs and small enterprise traders,” Aiello says.

“Nonetheless, the impact of the exclusion finally will depend on when the inventory was acquired, the commerce or enterprise being operated, and varied different elements.”

Income-based financing: A brand new playbook for startup fundraising

Picture Credit: Cocoon / Getty Photographs (Picture has been modified)

Income-based financing could make early-stage startups much less depending on traders to allow them to maintain onto extra fairness.

With phrases that often vary from 12-24 months, many groups use these funds for short-term initiatives, like gross sales and advertising and marketing campaigns.

“As a result of the return on these actions could also be increased than the price of revenue-based financing, startups ought to use revenue-based financing to fund initiatives that can bear fruit quickly,” advises Miguel Fernandez, CEO and co-founder of Capchase.

Pitch Deck Teardown: Syneroid’s $500K seed deck

Stolen-vehicle restoration techniques have been obtainable for many years, however a misplaced pet has increased emotional stakes.

In response to Syneroid, a startup that makes sensible tags, 10 million pets are misplaced every year in america, however “lower than 30% are returned dwelling.”

After elevating a $500,000 seed spherical at a $3.9 million valuation, the corporate’s founders shared their 12-slide pitch deck with TechCrunch for a assessment. “No data has been redacted or omitted,” writes Haje Jan Kamps.

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