H-1B worker layoffs, cyber threat scale, SaaS whiplash • TechCrunch


Dear Sophie,

I was laid off and am on H-1B. I have enough savings to live for a while. What should I do if I am fired?

I am on H-1B, approved I-140 and I-797 expires March 2024.

If I have to leave the US, can I transfer my current I-797 to my next employer? Are there any issues I should be aware of?

– Renovated and unemployed

The season won’t change for another 43 days, but in San Francisco, it already feels like winter.

As an overseas weather system brings rain and rain, local employers like Twitter, Lyft, Stripe, Brakes, Opendoor and Chime are laying off thousands of workers. This week Meta will reportedly announce the first large-scale layoffs in its history.


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For tech workers who are immigrants, this is a tough time because their ability to stay in the US is a condition of their employment.

Most visa holders have a 60-day grace period after an unexpected layoff, but the clock is running short as thousands of skilled workers hit the market at once.

We usually run Silicon Valley-based immigration attorney Sophie Alcorn’s column on Wednesdays, but in light of current events, we ran it yesterday (without the paywall).

First order of business: If you are affected, don’t delay. Start watching right now Tell everyone in your network that you are open to a new position, and a job.

“Be direct about your desire to transfer your H-1B to a new employer at a job interview. If the company refuses to sponsor you, move on,” advises Sophie.

“Ideally, you should accept no more than 45 days of employment during your 60-day grace period unless you are applying for another failure status because it can take several weeks to process and file the H-1B transfer.”

Brace yourselves: more strikes are coming. Update your resume, save as much money as you can, and most importantly – don’t panic.

Thank you for reading

Walter Thompson
Editorial Manager, TechCrunch+
@your main actor

2023 will be a benchmark year for cyber risk.

Image Credits: Olemedia (Opens in a new window) / Getty Images

There are countless factors that determine a company’s valuation, and cyber security is one of them.

Public companies that experience a breach tend to see their stock prices decline by -3.5% after the news is announced.

That’s why the Cyber-Risk Quotient (CRQ) has “gradually grown from good-to-live to a foundation for addressing concerns about a business’s cybersecurity posture,” writes John Chambers, founder and CEO of JC2 Ventures.

How ButcherBox Got to $600M in Revenue

Mike Salguero at ButcherBox Dry Ice Factory

Mike Salguero at ButcherBox Dry Ice Factory

Grocery delivery service ButcherBox ran a Kickstarter campaign in 2015 to identify customers who wanted to receive 100% grass-fed beef.

Since then, the company has “seen $600 million in revenue without taking a single penny of foreign investment,” Haje Jan Camps reported, CEO and co-founder Mike Salguero told how the founding team has grown the D2C startup.

“I was meeting meat farmers in parking lots, buying two trash bags of meat — I’m sure that doesn’t sound sketchy,” he said.

But there was too much meat for my freezer, so I started selling leftover meat to friends or coworkers.

New data shows how SaaS founders are handling the whiplash from the public markets

A group of people moving data together.

Image Credits: Puruan / Getty Images

According to OpenView Venture Partners’ 2022 SaaS Benchmarks report, “The majority of respondents are cutting costs regardless of the cash runway.

“The 40 rule is back” because the need to generate profits has overtaken investors’ obsession with growth, said OpenView operating partner Kyle Poyar and senior director of growth Curt Townshend, who covered 660 companies in this year’s survey.

“There is no need to achieve 40 every quarter,” they concluded. But it is important to know what caused the fall or rise and what needs to be done to reach 40 long term.

How to get investors to fund game-changing companies

(L-R) Tim de Chant, Senior Climate Writer, TechCrunch+, Gene Berdichevsky, Co-Founder and CEO, Silla, Erin Price-Wright, Partner, Index Ventures and Milo Werner, General Partner, The Engine, on stage at TechCrunch Disrupt 2022 They will speak on October 19, 2022 in San Francisco, California.

Image Credits: Kelly Sullivan/Getty Images

A SaaS startup can find product-market fit within a few months of launch, but companies working in hardware and robotics can languish in the pre-revenue wilderness for years.

Tim de Chant joins Milo Werner (General Partner, Motor), Gene Berdychevsky (Founder and CEO, Sila) and Erin Price-Wright (Partner, Index Ventures) at TechCrunch Disrupt to learn more about how investors are approaching risk in emerging technologies.

“Hire people who do technical things,” Berdichevsky said. “Watch it, but then go learn the other pieces.”





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