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Government United States Politics

Trump Administration Officially Delays 'Startup Visa' Rule (sfchronicle.com) 223

Trisha Thadani, reporting for SFChronicle: The Trump administration has officially delayed a rule that would allow some foreign entrepreneurs to stay in the U.S. and build their companies. During this delay, the administration will propose a plan to rescind the rule all together, according to a Federal Register notice that will be published Tuesday. This official notice, which will be published in the Federal Register Tuesday, comes exactly one week before the rule was slated to go into effect. It will be delayed until March 14. The International Entrepreneur Rule, is the closest the United States has come to the "startup visa" Silicon Valley has long sought, was approved by the Department of Homeland Security in January during President Barack Obama's waning hours in office.
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Trump Administration Officially Delays 'Startup Visa' Rule

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  • promises
    • Re:promises (Score:5, Insightful)

      by bobbied ( 2522392 ) on Monday July 10, 2017 @12:51PM (#54779863)

      Yep, the current administration is rolling back the previous administration's actions one regulation after another..

      Isn't that what the current president said he'd do? That's what I remember from the campaign...

      • by thaylin ( 555395 )

        Except this was not a regulation, this was a way to increase jobs in the US by encouraging investment.... This was actually around red tape.

        • There is already a perfectly valid way to invest in the US, it is called the stock market.

          What this did was provide a path for rich people to buy their way into the country, rather than stand in line like everyone else. Also, this EO would have seen hundreds of startups for the sole purpose of getting their rich owners into the US. It wasn't even clear to me how many if any employees they needed to sustain to be a valid business for the Visa.

      • I guess everyone hoped he was lying about "repeal everything" and would just stick to silly red meat issues his voters thought were evil. Like "common core" which inexplicably got labeled as satanic brainwashing rather than an easier way to learn addition. Not, you know, actually going after everything Obama did. The vast majority of what any government does is pretty mundane and non-controversial. How many voters in red states were rooting for keeping foreign entrepreneurs out? I'm sure if you told them it
        • by hey! ( 33014 )

          I don't think people were paying enough attention to details to be hoping he was lying.

          Take Trump's Obamacare repeal promises. He promised he'd have a plan where everyone would have insurance, regardless of their ability to pay. There would be no cuts to Medicaid. Nobody would lose coverage. Nobody would be worse off financially. Everybody would get much better care than they do now. The government would pay for health care for the uninsured, but save money overall while at the same time being less i

          • Donald Trump speaks with more genuine conviction than any politician of our time

            Then why does he flip flop so often?

            • Donald Trump speaks with more genuine conviction than any politician of our time

              Then why does he flip flop so often?

              Reality hits most of us eventually..

              However, in this case I think Trump's issue is that he is not skilled in political speaking, the close parsing of focus grouped statements which don't actually mean ANYTHING specific if you look a them, but sure sound like they do to the pre-disposed listeners. Trump just says stuff that most political candidates wouldn't touch with a 10' pole because they are fraught with political mine fields. You need to understand that Trump WANTS a lot of this stuff he is heard to

              • But how can you call it conviction that he keeps flip flopping (sometimes in the same speech), and definitely many times currently vs tweets he's made just a few years ago? Changing his opinion once in a while based on new evidence, great.. That's not at all what he does though.

                That seems like the opposite of conviction to me.

                I would call what the Tea Party politicians do as having more conviction, since they're unwilling to compromise at all (though that also causes great problems).

            • by hey! ( 33014 )

              Because the conviction is emotional, not intellectual.

              The tone is consistent, not the propositions delivered by that tone.

        • Like "common core" which inexplicably got labeled as satanic brainwashing rather than an easier way to learn addition.

          Common core isn't a way to learn anything. It's about ability standards, not teaching methods.

  • hey start your business in the US, and keep it, you are just not allowed to be here to manage it!

    • I thought that was the EB-5 Visa, but apparently it's something else. I'm not sure I understand then...

      • Re:So much for jobs (Score:4, Informative)

        by thaylin ( 555395 ) on Monday July 10, 2017 @12:34PM (#54779713)

        That requires at least a 1m investment of your own money into any business, not just your own.

        The new one stated that the buisness that you have a substantial role in managing and own at least 10% of, must have started in last 5 years, have growth potential and have received investment from US lenders of at least 250k or 100k from federal grants.

  • Are we mainly talking about:

    1) one-man "entrepreneurs" who own almost nothing and effectively function like independent contractors (e.g., H1B's; maybe like the guy in the article's picture) or

    2) real "entrepreneurs" who are hoping to build a business that employs multiple people or makes a tangible product you can buy, and have proven $$$ that they plan to invest in their idea?
    • Re: "Entrepreneur" (Score:2, Informative)

      by Anonymous Coward

      I believe you had to raise $250,000 from investors to qualify. So it would be option #2.

      • Re: (Score:3, Insightful)

        by MightyYar ( 622222 )

        Does that allow you to even hire a single engineer (with overhead) in the valley?

      • Re: "Entrepreneur" (Score:4, Insightful)

        by bigpat ( 158134 ) on Monday July 10, 2017 @01:12PM (#54780045)

        I believe you had to raise $250,000 from investors to qualify. So it would be option #2.

        That seems like quite a low threshold and meant for creating a loophole....

        Make the threshold $10 million, have effective government oversight to check and see that these are real start-ups intended on providing products and/or services (and not just to a related company or person) and then let's talk about whether it is a good thing to have wealthy foreigners come here to employ Americans.

        Either way we should really focus on a reasonable number of green cards and new citizenships for people that want to come here and become American citizens.

      • Re: "Entrepreneur" (Score:4, Interesting)

        by vux984 ( 928602 ) on Monday July 10, 2017 @02:36PM (#54780539)

        Real investors? Or can you or your wife simply invest in your business with 250k line-of-credit against the house?

        If not, what if we run it through a holding company so that it looks more arms length? "See, I have memorandum of understanding from MyOfficeChair Startup Venture Capital Ltd, and they've wired the money to the account; see here... and here...

        Seriously... the idea that you need 250k lined up from investors sounds good on paper to people who think that's a lot of money. But for a lot of people, that's really not much money at all; and if they just need to 'front it' for the duration of the application process a LOT of people could come up with it for a couple months.

        I know I could.

    • by thaylin ( 555395 )

      You had to own atleast 10% of the company and have a managing role.

      Have either 250k investment from US investors, or 100k in federal grants.

      • Re: (Score:2, Interesting)

        by Anonymous Coward

        So I invest $250k for a 90% share of your LLC. You come to the US and start your "business" where you work for minimum wage and I am your sole client with a 5-year locked-in contract. Versus paying the prevailing wage of $100k+ per year that could save me a lot of money.

  • Idiocy (Score:3, Insightful)

    by Anonymous Coward on Monday July 10, 2017 @12:29PM (#54779649)

    Conservatives are generally interested in reducing regulations for the benefit of businesses. It's a shame that xenophobia is getting in the way of something that will grow businesses and create jobs. This isn't going to take away jobs but instead create them and put Americans to work. This isn't H-1B bullshit. There really isn't a downside to keeping skilled labor in the United States that's going to create jobs for Americans. But the xenophobes that make up nearly 50% of the United States are stupid enough to turn away job creation. Sad!

    • Re: (Score:2, Insightful)

      by ctilsie242 ( 4841247 )

      This is how countries stop being world leaders. When businesses and scientists leave for greener pastures, you know things are hosed. I'd assert that the startup visa rule will do worse for the US economy than the past decisions to give businesses breaks by letting China have the manufacturing jobs.

      • Re:Idiocy (Score:5, Insightful)

        by lazarus ( 2879 ) on Monday July 10, 2017 @01:06PM (#54779991) Homepage Journal

        Canada's Startup Visa Program [cic.gc.ca]

        You're totally right. While the rest of the world is trying to attract the world's top talent, the US is actively hostile towards it. Trump seems to have missed the memo where these people generate wealth and jobs.

        • Trump seems to have missed the memo where these people generate wealth and jobs.

          Trump is simply doing what he promised he'd do, and he's doing what his voters wanted him to do. His voters don't want these people here, even though his voters also complain a lot about how bad the job situation is for them. Make of that what you will.

        • Most of startups are failing to begin with. US is not hostile, since the key program, EB-1, targeted for top level proven talent is intact. There is also EB-2. Reality is that "investor visa" was abused, and that is the reason it is being rolled back. It was basically turned to money barter to visa, under the disguise of investment, see one link here https://www.theguardian.com/us... [theguardian.com]. Why nobody is discussing the reasoning why "investor visa" has been abused and, probably, it was the right thing to do.
  • by Anonymous Coward on Monday July 10, 2017 @12:29PM (#54779655)

    And roll the dice. But let's stop playing games with privileged corporate visas that don't benefit ordinary Americans, it just benefits large corporations. Taxpayers like us are paying the bills, corporations have lawyers and accountants who help them avoid taxes and regulations that small businesses can't.

  • by Trailer Trash ( 60756 ) on Monday July 10, 2017 @12:30PM (#54779671) Homepage

    was approved by the Department of Homeland Security in January during President Barack Obama's waning hours in office

    In other words, it's another one of these policies that is so utterly important to our country that Barack Obama waited until he was 7.95 years through his 8 year term to enact it, and then post-dated it to go into effect during Trump's presidency. Obviously it wasn't a big deal for Obama.

    • Re: (Score:3, Insightful)

      by HornWumpus ( 783565 )

      SOP. Leaving a few legislative bombs is just what lame ducks do.

  • ...the rule of law?
    • Rule of Law? I'd have to wonder if this is a another "rule suspension" where Trump appointees are deliberately ignoring the rule of law and imposing a change in rules without following the procedure required by law.

      There is a VERY good reason congress required that rule making follow very strict procedures, that public input is received and that this process take a certain amount of time. This will be yet another in a long line of Trump cabinet members breaking the law and making or breaking regulations wit

  • by rsilvergun ( 571051 ) on Monday July 10, 2017 @01:04PM (#54779975)
    that might benefit American workers. These Visas were rife with potential fraud (only required $250k, little or no verification). I hate to say it because I've got friends that'll be killed by his healthcare policy but if he actually makes good on the rest of his promises to curtail the H1-B program et al his presidency will benefit me personally. At least as long as I never need pre-existing coverage (or can't just afford to move to California, NY or Massachusetts).
    • Re: (Score:2, Interesting)

      Who exactly will be killed by the repeal of Obamacare? Medicaid and Medicare still exist, there are still over 12,000 free clinics in the US, and no ER in the country can turn you away without treatment. On top of that, there are hundreds of minute clinics (and other similar clinics) where you can get checked out by an RNP for $90 with no insurance...

      The whole point of buying insurance is to cover against something unexpected. If you choose not to buy insurance and then you have a massive medical expense

  • "The International Entrepreneur Rule, is the closest the United States has come to the "startup visa" Silicon Valley has long sought, was approved by the Department of Homeland Security in January during President Barack Obama's waning hours in office."

    How about we re-write this as such:

    "The International Entrepreneur Rule, the closest the US has come to enacting a "startup VISA" which Silicon Valley has long sought, was approved by DHS in January during Barack Obama's last hours in office."

    Now it makes mor

  • This is interesting, because it shows what Trump does when two of his core principles are in conflict. Jobs are good! Foreigners are evil! So which of those does he care about more? What does he do when creating jobs involves letting in foreigners? Now we know: "foreigners are evil" wins out. That's more important to him than creating jobs.

    Which tells you that when he uses jobs to justify keeping out foreigners, he's probably just being a hypocrite. Not that that's a surprise.

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