💰 Tech's tidal wave of layoffs means lots of top workers have to leave the US. It could hurt Silicon Valley and undermine America's ability to compete.

TL;DR

If the current situation continues as the combination of job losses, scarce availability of H-1B visas, and strict rules for visa-holders, this specialized workforce could bring their talents to places with more permissive policies like Canada or the nations of the European Union."This antiquated immigration system does not provide robust, flexible options for the most talented, skilled foreign nationals to come to this country and work.Layoffs and bureaucracy have undermined Silicon Valley's reputation as a good place for immigrants to build a life in the US, and might encourage some to either stay in their home countries or look elsewhere to find a job abroad, the experts said.Finkelman said clients have told him they really only have two to three weeks to find new jobs, or they'll spend the rest of their time pulling their kids out of school and making arrangements to get everyone out of the country before time runs out."There's no scenario in which everyone that got laid off, specifically those that are dependent on work authorization, are gonna get a job," Manan Mehta, the founder of Unshackled Ventures, which helps immigrants found companies in the US, said."

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