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Marc Andreessen funded Trump’s candidacy. Now Trump is adding $100K annual fee for H1-Bs. How will this impact A16Z companies?
H-1B visas are meant for high-skilled jobs that tech companies find difficult to fill. If the moves survive legal muster, they will deliver staggering price increases.
In 2024, lottery bids for the visas plunged nearly 40%, which authorities said was due to success against people who were “gaming the system” by submitting multiple, sometimes dubious, applications to unfairly increase chances of being selected. Major technology companies that use H-1B visas sought changes after massive increases in bids left their employees and prospective hires with slimmer chances of winning the random lottery. The labor group wants visas awarded to companies that pay the highest wages instead of by random lottery, a change that Trump sought during his first term in the White House.
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