Our current leadership has stated that Americans come first, but as the tech industry relies on global talent and is already facing a pending talent shortage, this stance poses major recruiting challenges.
A decrease in immigration will have a big impact on growth in the tech industry. According to a study by the National Foundation for American Policy, more than half of all American startups valued at $1 billion or more were founded (or co-founded) by immigrants. Additionally, this study found that 70 percent of the management of these product development teams were immigrants.
As a regional tech leader, I am already faced with the fact that we simply can’t produce enough skilled people to fill our technology needs. We need access to talent — global talent.
If stricter immigration regulations are enforced, the potential ramifications on technology are huge.
Local talent will become more costly
If the talent pool shrinks drastically, competition becomes greater, which in turn increases costs. This affects our ability to hire talent and creates a barrier to entry for young startups.
Silicon Valley becomes the next Detroit
The disruptive nature of technology forces us to move quickly. If we become complacent, using history as a predictor, we no longer will be a leader in tech innovation.
A remote workforce is the new norm
If a central location on American soil isn’t a viable option, we need to be ready to hire smart, well-educated tech people and have them work from anywhere in the world.