TechCrunch+ roundup: Tips for H-1B workers, managing remote teams, taking apart the pitch deck

According to abbreviations.fyi, more than 23,000 tech workers have been laid off so far this month. By comparison, the site tracked 12,463 layoffs in October.

Facebook parent company Meta announced the first major job cuts in its history this week, cutting 11,000 jobs. Like Twitter, Stripe, Brex, Lyft, Netflix and other tech firms based in the Bay Area, many of the affected employees are immigrants here on work visas.

An unexpected layoff brings an element of chaos into everyone’s life, but when an H-1B worker loses their job, a very loud clock starts ticking: unless they can find a new position or change their immigration status within 60 days, they will must leave the country. And as tech companies of all sizes impose hiring freezes and plan more layoffs, their ability to live and work in the U.S. is suddenly in question.

Earlier today I hosted a Q&A with immigration attorney Sophie Alcorn on H-1B workers who have been laid off (or believe they may be).

“Either you get a new job, you leave, or you figure out some other way to stay in the United States legally, but you have to take some action within those 60 days.” Start looking for new opportunities now, she advised, as new employers it will take time for them to file with US Citizenship and Immigration Services.


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“The best case scenario would be for that new company to file your new employer change petition and for USCIS to receive the paperwork on or before the 59th day from your last day of employment,” Alcorn said.

“It takes at least three weeks to get everything ready,” meaning applicants and employers need to move quickly as the days count down. “You probably need a signed offer around the 33rd day,” she said.

Much of the information Alcorn provided was as relevant to hiring managers as it was to laid-off workers: any number of factors can combine to further complicate an already difficult process. understand. For example, what happens to H-1B workers who are fired while out of the country? Can getting married actually solve the immigration problem? (Definitely not!)

With so many people laid off during a season when it’s traditionally hard to find a new position, I asked Alcorn if he thinks the layoffs will cause tech talent to drain from Silicon Valley.

“The American dream is still really important to immigrants,” she said. “A lot of people are going to struggle to find a way to stay here, even if it’s not necessarily in the Bay Area with the high cost of living. They still want what America stands for, and they will reevaluate their relationship with Big Tech and the nature of work.”

3 Tips for Managing a Remote Engineering Team

Three arrows running past a brick wall

Image Credits: Inoc (opens in a new window) / Getty Images

I once ran an office where the CEO and I were the only two people not on the engineering team. We took a pod in a co-working space so we all sat around one big table.

Outside of our group lunches, the developers rarely talked to each other, as most communication was through Slack, Jira, and GitHub. Today, this team works remotely.

In a TC+ post, entrepreneur and angel investor Kuan Wei (Greg) Soh shared his top tips for managing distributed engineering teams, which includes mandatory stand-ups and at least three hours every day where everyone is available to chat.

“We expect Slack messages to be answered within an hour, that everyone is available if we call them, and that we will work responsibly with our assigned partners,” he says.

Use IRS Code Section 1202 to sell your multimillion-dollar startup tax-free

A piggy bank with sunglasses on the beach on the seashore

Image Credits: Brian Jackson (opens in a new window) / Getty Images

Founding teams typically choose a corporate structure like an LLC or S-Corp, but those hoping to shell out $10 million for more should consider starting as a Qualified Small Business (QSB) C-Corporation, advises tax attorney Vincent Aiello .

Under IRS Code Section 1202, founders who have held QSB stock for five or more years will be exempt from paying capital gains tax upon sale.

“This represents a significant tax-saving advantage for entrepreneurs and small business investors,” says Aiello.

“However, the effect of the exclusion ultimately depends on when the shares were acquired, the trade or business being run and various other factors.”

Revenue-Based Funding: A New Guide to Fundraising for Startups

Image Credits: Cocoon / Getty Images (Image modified)

Revenue-based funding can make early-stage startups less dependent on investors so they can retain more equity.

With terms that typically range from 12 to 24 months, many teams use these funds for short-term projects such as sales and marketing campaigns.

“Since the return on these activities can be higher than the cost of revenue-based financing, startups should use revenue-based financing to fund initiatives that will bear fruit soon,” advises Miguel Fernandez, chief CEO and co-founder of Capchase.

Pitch Deck Teardown: Syneroid’s $500K Starter Deck

Stolen vehicle recovery systems have been available for decades, but a lost pet has higher emotional stakes.

According to Syneroid, a startup that makes smart tags, 10 million pets are lost every year in the United States, but “less than 30% make it back home.”

After raising a $500,000 seed round at a $3.9 million valuation, the company’s founders shared their 12-slide deck with TechCrunch for review. “No information has been edited or omitted,” writes Haje Jan Kamps.

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