Demand for H1-B visas is so strong that the annual cap of 65,000 was hit last week. VCs and tech executives want to see the quota boosted to 300,000, but some U.S. tech workers and academics say the tech talent shortage is exaggerated — and the H1-B program serves mainly as a source of cheap labor.
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Moritz Eases Back from Sequoia Capital After Being Diagnosed with “Rare Medical Condition” – Reports
Legendary venture capitalist Michael Moritz is stepping back from the daily management of Sequoia Capital due to a rare and incurable illness, Moritz wrote in a letter to the firm’s limited partners, according to multiple media reports.
If some venture capitalists have issues with the brazen style of the 34-month-old, Sand Hill Road firm Andreessen Horowitz, just wait. The firm’s six GPs have just committed to dedicate half of the income from their venture careers to charity.
“So what would I dream of?” Moritz asked. “I’d dream of a little office that we could have at Sequoia Capital that allowed us to automatically stamp and give green cards to the talented people who would generate prosperity for America tomorrow.”
Want to catch up on what your colleagues found most interesting on peHUB this week? Here are the posts written by our staff that garnered the most pageviews from March 7 to March 11.
1. Disqus to Facebook: “We Aren’t Shaking In Our Boots” – by Connie Loizos.
2. Is Savvis Finally Up for Sale? Tech Co. Said to Have Hired Qatalyst – by Luisa Beltran.
3. Schwarzman, At $5.9B, Among Richest LBO Pros (Well Ahead Of Kravis) – by Steve Bills.
4. Summit Partners Raising $3B Growth Equity, $450M Venture Funds – by Mark Boslet.
5. Doerr, Moritz Make Forbes’ Billionaire List; Will They Make the Resurrected Midas List, Too? – by Alastair Goldfisher.
6. Israeli Venture Funds Raised Zero Dollars in 2010; The Situation is “Critical” – by Connie Loizos.
7. HCA Doesn’t Look So Bad. Here’s The Top 10 PE-backed IPOs – by Luisa Beltran.
8. It Took Two Years But Wynnchurch’s Third Fund Comes In at $603M – by Luisa Beltran.
9. This Anti-Registration Campaign Might Have Legs – by Bernard Vaughan.
10. Sequoia, Google Ventures Join $32M Round For HubSpot – by Mark Boslet.
I might not ordinarily cover a new product announcement from a cleantech portfolio company. But this one struck me for a particular reason: Michael Moritz of Sequoia Capital is on the four-person board, along two members of the private equity firm HarbourVest Partners. What’s interesting is that the company – rebranded Earth Networks Inc. today [...]
Remarkable founders don’t come across as “silvery tongued devils,” says Michael Moritz of Sequoia Capital. Rather, they’re often shy, quiet and rather withdrawn. That was one of the observations Moritz made last night in a one-hour Q&A at startup incubator Kicklabs. The Xconomy-hosted event was provocatively titled “Michael Moritz Unplugged,” but the star VC didn’t [...]
A lot of venture capitalists are concerned about how their industry is shrinking, but Michael Moritz isn’t one of them. A partner at Sequoia Capital, Moritz was one of several VCs at yesterday’s DLA Piper Global Technology Leaders Summit who claimed the industry might be better off contracting. “I don’t think Silicon Valley needs all [...]