#HR1044 would be a disaster for Silicon Valley.
No new green cards means any foreign PhDs with a half-decent option abroad will take it, rather than a 5+ year wait.
Fundraising will be uniformly next-to-impossible for foreign founders...
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By making them wait for processing until the backlog caused by the caps has cleared. Estimates for this range from 5-10+ years if the total number of GCs doesn't increase. Doubt fiduciary rules/LPs would even allow VCs to invest in co's w founders on temp visas/parole for years.
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Is there literature on this somewhere?
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