H-1B employee layoffs, cyber-risk quantification, SaaS whiplash • TechCrunch


Pricey Sophie,

I used to be laid off and I’m on an H-1B. I’ve sufficient financial savings to outlive for some time. What ought to I do if I’ve been let go from my job?

I’m on an H-1B, have an permitted I-140 and an I-797 that expires in March 2024.

If I’ve to depart the U.S., can my present I-797 be transferred to my subsequent employer? Are there any points I ought to pay attention to?

— Upended & Unemployed

The seasons gained’t change for an additional 43 days, however in San Francisco, it already appears like winter.

As an offshore climate system brings gusts and downpours, native employers like Twitter, Lyft, Stripe, Brex, Opendoor and Chime are shedding 1000’s of workers. This week, Meta will reportedly announce the primary large-scale workers cuts in its historical past.


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For tech staff who’re immigrants, that is an particularly fraught time, as their capability to stay within the U.S. is conditional on their employment.

Most visa holders have a 60-day grace interval after an sudden layoff, however with 1000’s of expert staff hitting the market directly, the clock is ticking.

We often run Silicon Valley-based immigration attorney Sophie Alcorn’s column on Wednesday, however in gentle of present occasions, we ran it yesterday (with out a paywall).

First order of enterprise: If you happen to’ve been impacted, don’t delay. Begin trying now for a brand new place, and inform everybody in your community that you just’re open to work.

“At a job interview, be direct about your have to switch your H-1B to a brand new employer. If the corporate shouldn’t be prepared to sponsor you, transfer on,” advises Sophie.

“Ideally, you must settle for a job supply not more than 45 days into your 60-day grace interval until you will have utilized for an additional fallback standing as a result of it could take a number of weeks to arrange and file the H-1B switch.”

Brace your self: Extra layoffs are coming. Replace your resume, save as a lot cash as you may and, most significantly — don’t panic.

Thanks for studying,

Walter Thompson
Editorial Supervisor, TechCrunch+
@yourprotagonist

2023 would be the yr of cyber-risk quantification

Risk configurable toggle switch. Position high low; cybersecurity risk

Picture Credit: Olemedia (opens in a new window) / Getty Photos

Myriad elements decide an organization’s valuation, and cybersecurity is certainly one of them.

Public firms that have a breach are inclined to see a -3.5% drop in inventory worth after the information goes public.

That’s why cyber-risk quantification (CRQ) “has slowly grown from a nice-to-have to develop into the muse for addressing probably the most crucial issues a couple of enterprise’ cybersecurity posture,” writes John Chambers, founder and CEO of JC2 Ventures.

How ButcherBox bootstrapped to $600M in income

Mike Salguero at ButcherBox's dry ice factory

Mike Salguero at ButcherBox’s dry ice manufacturing facility. Picture Credit: ButcherBox

Grocery supply service ButcherBox ran a Kickstarter marketing campaign in 2015 to determine prospects who wished to obtain 100% grass-fed beef.

Since then, the corporate “has seen $600 million value of income with out taking a penny of exterior funding,” stories Haje Jan Kamps, who spoke to CEO and co-founder Mike Salguero about how the founding crew bootstrapped their D2C startup.

“I used to be assembly meat farmers in parking heaps, shopping for a few trash baggage stuffed with meat — I’m certain that didn’t appear sketchy in any respect,” he stated.

“But it surely was an excessive amount of meat for my freezer, so I ended up promoting the surplus meat to associates or folks I used to be working for.”

New information present how SaaS founders have been coping with whiplash from public markets

Group of people moving data together.

Picture Credit: puruan / Getty Photos

In keeping with OpenView Enterprise Companions’ 2022 SaaS benchmarks report, “an amazing majority of respondents are slashing spending no matter money runway.”

On this yr’s survey, which lined 660 firms, OpenView working companion Kyle Poyar and senior director of development Curt Townshend discovered that “the rule of 40 is again,” as the necessity to generate earnings has overtaken buyers’ obsession with development.

“Attaining 40 every quarter shouldn’t be required,” they concluded. “However it’s required to have a grasp on what prompted a drop or spike, and what might be achieved to get to 40 long run.”

land buyers who fund game-changing firms

(L-R) Tim De Chant, Senior Climate Writer, TechCrunch+, Gene Berdichevsky, Co-founder & CEO, Sila, Erin Price-Wright, Partner, Index Ventures and Milo Werner, General Partner, The Engine, speak onstage during TechCrunch Disrupt 2022 on October 19, 2022 in San Francisco, California.

Picture Credit: Kelly Sullivan / Getty Photos

A SaaS startup can conceivably discover product-market match inside a number of months of launching, however firms that work with {hardware} and robotics might wander within the pre-revenue wilderness for years.

To study extra about how buyers strategy threat in relation to rising know-how, Tim De Chant moderated a panel at TechCrunch Disrupt with Milo Werner (normal companion, The Engine), Gene Berdichevsky (co-founder and CEO, Sila) and Erin Worth-Wright (companion, Index Ventures).

“Rent folks to do the technical stuff,” stated Berdichevsky. “Regulate it, however then go study the opposite items.”





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