AOL Co-Founder Turns Attention to Immigration Reform

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After a successful campaign for the Jobs Act, AOL Inc co-founder Steve Case says he’s ready to champion for immigration reform.

President Obama signed the JOBS Act Thursday that will help small businesses and make it easier for startups to raise capital. The bill would phase in Securities and Exchange Commission regulations to let smaller companies go public sooner.

At a White House gathering in which President Obama signed the aforementioned bill, Case told Reuters he wants to push for legislation that would make it easier for high skilled immigrants to work in the United States.

Case, who runs a Washington-based venture investment firm, said recruiting foreign talent is one of the most important issues facing the startup community. He said given the success of the Jobs Act, he believes there is a chance Congress could act on the issue before the November elections.

But Case is limiting his involvement to legislation focusing on skilled immigrants, rather than a comprehensive approach that would also address the contentious issue of undocumented immigration.

That could put him in disfavor with some groups, including some Congressional Democrats and a majority of Hispanic voters, who believe pairing the two issues is the only way of getting Congress to deal with a broken immigration system.

It’s also unlikely that Republicans would sign onto a bill that would be seen as a victory for Obama.

A recent study by the National Foundation for American Policy found that immigrants founded or co-founded close to half of the 50 top venture-backed companies in the U.S. The majority of those companies, 37, also had at least one immigrant in a key management position.

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Anonymous

Posted Apr 7 2012

We should be putting our own citizens back to work first, and only then bringing in new workers.

Anonymous

Posted Apr 7 2012

PIECEMEAL REFORM LIKE STEVE CASE SUGGESTS MUST BE BLOCKED AT ALL COSTS. Why?

Because piecemeal reform will make it virtually impossible to pass other pieces of immigration reform. As soon as the Congressmen who favor high-skill reform get what they want, it will be "I've got mine, you are on your own amigos" and they will not support broad legalization.

Those of you who want high-skill visa reform should tell your Congressmen to support comprehensive immigration reform, or the high-tech workers can go and get jobs in Canada or Germany.

Anonymous

Posted Apr 7 2012

Eighty percent, or 40 out of 50, of the country’s Top 50 Venture-Funded companies had one or more American born founders. No, I didn’t make up the statistic, I found the referenced "study" by the National Foundation for American Policy and reversed the spin that the pro-immigration faction is trying to promote.

Curiously, the NFAP document (provided in the sources below) has a table with the names and birthplace of the foreign-born founders. However, after finding another source for the "Top 50" data, I find that the NFAP has removed the names of the U.S. born founders and eliminated the companies that did not have a foreign-born founder from the table included in the NFAP "study".

Considering both tables - the one in the NFAP document and the one provided by the WSJ (also in the sources below) - I have found the following:

23 of the 50 companies have one or more foreign-born (co)founders; but, 13 of those 23 also had 1 or more American born cofounders. Only 10 of the Top 50 companies didn't have an American born cofounder.

Companies "Without a Foreign Born Founder" have employment levels 26% higher than the Top 50 average employment levels.

Companies "Without a American Born Founder" have employment levels 25% lower than the Top 50 average employment levels.

The benefit of employment growth in foreign born cofounded companies is muted by a much higher application rate for temporary foreign workers and below average employment levels. Companies with foreign born (co)founders (23 of 50) are almost twice as likely to apply for H-1B visas.

Most of the Top 50 companies (36) are located in California, which has 34.9% population of foreign-born employed in the labor force, so the 31.9% foreign-born (co)founders basically represents the population. The data shows nothing statistically remarkable about foreign-born founders.

Source Data:

National Foundation for American Policy (NFAP)
"Immigrant Founders and Key Personnel In America’s Top Venture-Funded Companies,"
http://bit.ly/rMvfkJ

Wall Street Journal
Top 50 Venture-Funded Companies WSJ.com
http://on.wsj.com/hbb0Oc

Foreign Born Employed in the Labor Force:

Employed Civilian Foreign-Born Labor Force by State: 2007
Appendix Table A.
www.census.gov/prod/2008pubs/acs-09.pdf

H-1B LCA Application Data
http://www.h1bistro.com/

Anonymous

Posted Apr 7 2012

Anonymous

During Pres.Clinton era the unemploymet rate is around 5% and now is 8.2%, some say that the 5% of that they really don't wanna work they just rely on social service of the Government, and the 3.2% these are people they loss job's and can't find work...

Anyway, Comprehensive Immigration reform eventually will happen but we don't know when? let's see within next 2 years.

Anonymous

Posted Apr 9 2012

As an E2 investor from the UK with no path to permanent residency in the US, I have a question:
How is it a foreigner can invest $500K in an EB-5 program, create ten jobs and get green cards for himswlf and his family (allowing them to take American jobs). After 5 years his investment is returned with interest.
At the same time, a foreigner can invest $400K in a small business on an E2 visa, create 20 jobs, not be eligible for green card, have his investment constantly at risk, be required to renew the visa every five years and his children become out-of-status when they reach 21 and must leave?

Something is seriously wrong. Thousands of foriegn would-be investors want to come here, but many cannot raise $500K to invest and still afford to live. E2 investors currently employ around 1 million Americans. If the E2 visa led to green cards, that number could double or treble in a very short time.

Does this administration really want to create jobs? Then it should open the door to foreign small investors and give them an incentive - the possibility of not just a new business, but a new life.

Nina Mold
E2Visareform.org

Anonymous

Posted Apr 9 2012

As an E2 investor from the UK with no path to permanent residency in the US, I have a question:
How is it a foreigner can invest $500K in an EB-5 program, create ten jobs and get green cards for himswlf and his family (allowing them to take American jobs). After 5 years his investment is returned with interest.
At the same time, a foreigner can invest $400K in a small business on an E2 visa, create 20 jobs, not be eligible for green card, have his investment constantly at risk, be required to renew the visa every five years and his children become out-of-status when they reach 21 and must leave?

Something is seriously wrong. Thousands of foriegn would-be investors want to come here, but many cannot raise $500K to invest and still afford to live. E2 investors currently employ around 1 million Americans. If the E2 visa led to green cards, that number could double or treble in a very short time.

Does this administration really want to create jobs? Then it should open the door to foreign small investors and give them an incentive - the possibility of not just a new business, but a new life.

Nina Mold
E2Visareform.org

Anonymous

Posted Apr 9 2012

As an E2 investor from the UK with no path to permanent residency in the US, I have a question:
How is it a foreigner can invest $500K in an EB-5 program, create ten jobs and get green cards for himswlf and his family (allowing them to take American jobs). After 5 years his investment is returned with interest.
At the same time, a foreigner can invest $400K in a small business on an E2 visa, create 20 jobs, not be eligible for green card, have his investment constantly at risk, be required to renew the visa every five years and his children become out-of-status when they reach 21 and must leave?

Something is seriously wrong. Thousands of foriegn would-be investors want to come here, but many cannot raise $500K to invest and still afford to live. E2 investors currently employ around 1 million Americans. If the E2 visa led to green cards, that number could double or treble in a very short time.

Does this administration really want to create jobs? Then it should open the door to foreign small investors and give them an incentive - the possibility of not just a new business, but a new life.

E2Visareform.org

Anonymous

Posted Apr 9 2012

hey mr case unless you are living in la la land our the country has a 8.3% unemployment rate hiring illegals who will work for slave wages is not the answer. how do assholes like yourself ever achieve sucesss in the business work ? is beyond me.

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