Counseling for H-1B workers, remote team management, launch pad disassembly • TechCrunch

According to layoffs.fyi, more than 23,000 tech workers have been laid off so far this month. For comparison, the site tracked 12,463 layoffs in October.

Facebook’s parent company, Meta, this week announced the first major job cuts in its history, eliminating 11,000 jobs. Like Twitter, Stripe, Brex, Lyft, Netflix and other Bay Area-based tech companies, many of the affected employees are immigrants here on work visas.

An unexpected layoff introduces an element of chaos into anyone’s life, but when an H-1B worker loses their job, a very loud clock starts ticking: unless they can get a new position or change their immigration status within 60 days, you will need to leave the country. And with tech companies of all sizes freezing hiring and planning more cuts, his ability to live and work in the US is suddenly in question.

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

“Either you get a new job, you leave, or you find some other way to stay in the United States legally, but you have to take some action within those 60 days.” Start looking for new opportunities now, she advised, since it will take time for new employers to submit paperwork to US Citizenship and Immigration Services.


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“The best case scenario would be for this new company to file their new employer change petition and USCIS receive the paperwork on or before the 59th day from their last day of employment,” Alcorn said.

“It takes at least three weeks to get everything ready,” meaning candidates and employers need to act quickly as the countdown ticks down. “You probably need a signed offer around the 33rd,” he said.

Much of the information Alcorn provided was as relevant to hiring managers as it is to workers who have been laid off: any number of factors can combine to further complicate a process that is already hard to figure out. For example, what happens to H-1B workers who are laid off while out of the country? Can getting married really solve an immigration problem? (Definitely not!)

Because so many people have been laid off during a time when it’s traditionally difficult to land a new position, I asked Alcorn if he thought the layoffs would cause an exodus of tech talent from Silicon Valley.

“The American Dream is still very important to immigrants,” he said. “A lot of people are going to struggle to find a way to stay here, even if it’s not necessarily in the Bay Area with the high cost of living. They still want what America stands for and they’re going to reevaluate their relationship with Big Tech and the nature of work.”

3 tips for managing a remote engineering team

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I once ran an office where the CEO and I were the only two people not on the engineering team. We occupy a pod in a co-working space, so we all sit around a large table.

Outside of our group lunches, the developers rarely spoke to each other, as most communication was via Slack, Jira, and GitHub. Today, that team works remotely.

In a post for TC+, entrepreneur and angel investor Kuan Wei (Greg) Soh shared his top tips for managing distributed engineering teams, which include mandatory meetings and at least three hours each day when everyone is available to chat.

“We expect Slack messages to be answered within the hour, everyone to be reachable if we call them, and to work responsibly with our assigned partners,” he says.

Use IRS Code Section 1202 to Sell Your Multi-Million Dollar Startup Tax-Free

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Founding teams typically select a corporate structure like an LLC or S-Corp, but those hoping to walk away with $10 million for more should consider starting as a qualified small business (QSB) C-Corporation, advises tax attorney Vincent Aiello.

Under IRS Code Section 1202, founders who own QSB stock for five years or more will be exempt from paying capital gains tax after a sale.

“It’s a significant tax-saving benefit for entrepreneurs and small business investors,” says Aiello.

“However, the effect of the exclusion ultimately depends on when the shares were acquired, the trade or business being operated, and various other factors.”

Revenue-Based Financing: A New Playbook for Startup Fundraising

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Revenue-based financing can make early-stage startups less dependent on investors so they can retain more capital.

With terms typically ranging from 12-24 months, many teams use these funds for short-term projects such as sales and marketing campaigns.

“Because the return on these activities can be greater than the cost of revenue-based financing, startups should use revenue-based financing to finance initiatives that will bear fruit soon,” advises Miguel Fernández, CEO and co-founder of Capchase. .

Launchpad Teardown: Syneroid’s $500K Seed Platform

Image credits: GPC Smart Labels (Opens in a new window)

Stolen vehicle recovery systems have been available for decades, but a lost pet carries greater emotional risks.

According to Syneroid, a startup that makes smart tags, 10 million pets are lost in the United States each year, but “less than 30% make it home.”

After raising a $500,000 seed round at a $3.9 million valuation, the company’s founders shared their 12-slide presentation with TechCrunch for a review. “No information has been redacted or omitted,” writes Haje Jan Kamps.

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