Venture capitalist and fine essayist Paul Graham writes in favor of Silicon Valley billionaires’ efforts to pass the Senate immigration bill, which increases H-1B visas from 85,000 new ones per year to 180,000.Yes, we could let in the great programmers, but that would only be about 5k a year.We have the potential to ensure that the US remains a technology superpower just by letting in a few thousand great programmers a year.Okay, so let’s say “a few thousand” means 5,000. Then what do we need 85,000 H-1B grunts for, much less 180,000?
Graham has written a lot of good essays, but here he is only speaking for the interests of rich investors. Importing cheap labor would make it easier for startup companies to expand with a low payroll.
His firm invested about $100k each in a bunch of startup companies like Dropbox and Airbnb, and now the investments are worth many billions. So he has gotten rich. But why can't his companies hire American and pay the going rates?