Billionaire VC Mike Moritz slams new H-1B visa fee as ‘brutish extortion scheme’

The Trump administration last Friday Declaration A new $ 100,000 annual tariff on H -1B Visa, which allows 85,000 skilled foreign workers to enter the United States every year. This fee is mainly applicable to the employers of these workers in technology.

This is not the capitalist Michael Morritz of the senior initiative. In a new, impressive Financial Times Op-AidFormer Sikoiya Capital Hancho has called the White House to compare the Tony Soprano pork stores to the stores of the pork, called the move as another “barbaric extortion project”.

Moritz argues that why Trump hits foreign workers why Trump hits foreign workers, it is not about to meet the shortage of skills and labor, not to replace Americans or spend expenses. He warned that the policy would be left behind, by imposing companies to move the work instead of working in Istanbul, Warsa or Bengaluru.

Moritz writes, “Graduate engineers from advanced Eastern Europe, Turkish and Indian universities are just as qualified as their American parts,” Mortaz wrote.

Instead of restricting H -1B visas, Mortaz suggests them to double or threefold, or to automatically give foreign citizens to foreign citizens who acquire stem PhD from top universities in the United States. She has been an example of the success of the H -1B program as an example of Microsoft’s True Nadella and foreign -born CEOs like Google’s beautiful Pichai. (Elon Mask and Instagram co-founder Mike Criger Two.)

Moritz himself received his previous visa in H -1B in 1979, and since then Billionaire wrote, “I have been grateful to the country I welcomed me.”