ta78637's comments

Right. Additionally, I personally wonder what effect lowering wages and worsening working conditions in entry level tech jobs has on the domestic talent pipeline.

That is, how many American students meditate on the ineffable mysteries of the efficient market hypothesis and then decide, hey, marketing is an easy major and the job prospects aren't that much worse than tech. Better -- how many did that in 2002?

I don't think anyone would argue against the fact that people born in India sometimes start valuable companies. My problem with the Economist article is, it expects us to take on faith that the current H-1B visa laws have much to do with it, that raising the cap and allowing mobility would make it even better, and that the benefits to American society actually outweigh the costs.

An aside - I wonder if any founders in that list came in on investor visas?

Quite right. $60K in 1989 would be $117K in today's dollars by CPI. But CPI might be a little bit optimistic. I'd peg it to the rate of real estate inflation :)

I understand what you're getting at and don't intend to be cruel. Unfortunately, huge employers don't flinch at leveraging natural human sympathies as a convenient way to beat down support of policies that might increase domestic labor's bargaining power. I intend to make a little fun, but not at H-1B workers. Only at journalistic shilling.

[edit - fixed grammar mistake which mangled intended meaning]

Article's concluding sentences: "Reducing the number of visas for TCS and its brethren would probably result in them shifting work to India. A better change would be to end the rule whereby H-1B recipients must stay with the company that sponsored them. For within their ranks may lurk the next Elon Musk or Sergey Brin."

Personally I find this line of thought (cliche?) frustrating. Not just because apparently us proles should be making our policy decisions based merely on whether we just might get to bask in some future billionaire's magnificence, but also because, isn't this a somewhat empirically testable proposition? That is, how many Musk-like or Brin-like individuals have come through TCS or Wipro or Infosys on a H-1B so far?