Entrepreneurs in Residence

Uploaded by uscis on 29.02.2012

Everyone could take their seat please. Okay. You can take your seat we would get
started in just a minute. Great. Welcome and good morning. So glad to
see all of you today thank you for being here, I know it is going to be a fantastic day.
I have the Chief of Staff at the US citizenship and to have immigration services where the
Department of Homeland Security that administers the immigration benefits. We are pleased to
have the entrepreneurs in residence seminar today. I would like to recognize a few esteemed
colleagues across the federal government that were able to join us today. I would like to
introduce Felicia Escabar witches of the senior executive domestic counsel at the White House
and Seth Grossman deputy counsel Department of Homeland Security. Yvonne Lee Regional
advocate small department of advocacy. Office of science and technology and neck, senior
adviser White House of science and technology. Thank you for joining us today and for your
support in this initiative, we could not be doing it without you. Before we begin, I would
like to introduce Dr. Simon Ward and director of the NASA Ames research Center, our gracious
host for today, Dr. Warden leads a staff of 2500 employees and oversees an $800 million
budget to provide critical research and development support for NASA missions and spur federal
administration Dr. Warden of the academic author consultant former Congressional fellow
answer in 29 years in the Air Force. Please join me in welcoming Dr. Warden to the podium.
Thank you and good morning I want to acknowledge and thank direct your Alejandra for coming
to host this national wonderful event. Also, you'll need Congresswoman later today, for
many years she has shown leadership in Congress on immigration issues that also like to thank
our guest from the White House and sister that all agencies, and from industry, local
community and families. Well come. It might not be immediately obvious, but NASA is a
natural location for today's event. Many of our top scientists and engineers came here
from other countries as graduate students. Work as interns or coinvestigators on massive
projects and impressed us enough to stay on. Some became citizens in Assam police and others
who work as contractors with proper work visas, of course.
In case anybody expects my Senator. We are illegal. Probably the biggest name was came
over from Germany after World War II and helped us build rockets to lift the Apollo missions
to the men who there are countless others. The bottom line and believe it is valuable
to have a quality national workforce that is diverse and members very different perspectives
and ways of thinking to help us solve complex problems. NASA, like America, is fortunate
to have a talent of the world to want to come here. Very quickly, there is three things
that NASA does. We do all three of these things . First of all, we do science an image of
science first because I'm a scientist. In the last two decades we revolutionized physics,
each new discovery we have made shows we know less about the universe and is a physicist
that is job security so I like it. The next couple of decades, are going to make similar
discoveries in life and how life began, and many of those missions, and indeed, as we
speak, you will have missions from Kepler and Earth size planets in orbit, around stars,
like the sun. The second thing, there is life on her, her two important things to note,
did data that we need to understand climate change comes from NASA sensors, space, the
air, on the ground, we're trying to work it understand how climate change affects specific
sites, that is a very big effort and a lot of that work is done at Ames and supercomputer,
and with the help of many of you Silicon Valley and the first thing, aeronautics, and today,
we're working on a next-generation control system, we expect three or four fold increase
in traffic, we can do that with the methods we have today, traffic control systems also,
increase of pollutants environmental responsible aviation or green aviation we expect revolutionized
these -- aviation industry in the third thing, the one you probably heard the most about,
we are on the verge of extending humanity in the solar system. There is probably someone
born today could be the person to live -- and everyone of us, there should not be any idea that anybody has any particular calling
on that one. So that is very exciting. You should be proud as I am to know the Democrats
helped launch Americans -- Democrats helped launch Americans into space in the Navy were
launching into a new mission in your life as American citizens. As they say at NASA,
anybody working on the journey, I wish you Godspeed on your journey and I want to thank
and congratulate you.
Thank you for allowing us to host our event here today it is my pleasure to introduce
the director of USICS, Ally Hunter, since his unanimous confirmation in 2009 he has
led USICS and agency with a $3 billion budget and 18,000 member workforce from nearly 200
offices around the world. He was previouslyy the US Atty. for the Central District of California
and immediately prior to his appointment as director was a partner at the law firm of
the miners in Los Angeles. Please join me in welcoming today's host. [Applause]
Thank you very much. Thank you for joining us, we are very excited about today's events
and important initiative for immigration initiatives we have three goals family unity humanitarian
relief and economic prosperity and that will be the focus of our attention today and the
subject of the entrepreneurs in residence initiative that we are formerly launching
this morning. I do want to act Overbeck is thanks to NASA for hosting us and if I can
take just a moment to thank the men and women of USICS who have worked so hard to make today
Adam Hunter, Adria for us, their team have done a remarkable work in making this conference
possible joining with the tremendous support of San Jose and San Francisco offices we have
a number of people from throughout our agency here joining us for fully invested in the
success of this program. The law as we know, provides for discrete paths for individuals
from foreign countries to come to the United States hampering their talents and skills
to contribute it to our nation and its prosperity with the idea of achieving success in creating
jobs domestically. We as an agency administer are accustomed to seeing traditional models,
traditional businesses come before us and see petitions for individuals and appointment
or to have individuals come before us seeking visas presenting traditional models and we
realize that we are an agency that administers laws in a very dynamic environment, and particularly
in the business environment with landscape changes before us, with great frequency and
sometimes unpredictability. And we, as an agency, that is dedicated to administering
the laws and helping realize their full potential and achieve their intent of job creation have
an obligation and have a commitment to understanding the dynamics of the industries that we serve
and responding accordingly so the law goals are fully realized heard -- are fully realized.
This initiative in particular, the entrepreneurs in residence initiative was actually prompted
by a visit that I had at Stanford University when I was speaking with some MBA students.
Some advocates a distinguished member immediately to my right, and practitioners someone who
I recognized today. You are speaking of the fact that our agency was applying a traditional
formula to very unorthodox models. And how we needed to adjust in serving the community
and particularly the entrepreneurial community. Where floorplans, various -- various established
organizational chart histories and revenue are necessarily the initiative of legitimacy,
success, or frankly, legibility. How can we learn for the initiative eligibility rapidly
changing environments and rapidly changing landscapes and we thought that one of the
best ways is to bring people with insights into that rapidly changing environment and
people with experience having gone through the entrepreneurial experience and interagency
to best informed our policymaking, guide our training of committed and talented adjudicators
and to help us and guiding our adjudication processes so we can indeed respond to the
community and respond to the business realities insert the law's intent and objectives and
to fail to do so is to fail to capture the lost potential to create jobs for US workers
at a time when it needs is most acute and we are very proud to commit a remarkably talented
cadre of people to be spearheading this effort on behalf of USICS internally and if I can't
identify them, Sunny Choi access it counsel office of chief counsel and as they go through
this, you will see the commitment of our agency to making this initiative a success. Mark
Harvey, supervisory immigration services advisor, California service Center. -- Tremendous senior
salt -- senior policy administrator office of strategy, Tonya super Pfizer of strategic
services, every more supervisor and liberation officer brought addiction in national security,
Catherine Sun, assistant director California service Center and Robert Cox, associate counsel
for the office of chief counsel who unfortunately could not join us here today. We also have
leadership and agency, Donna Neufeld, the leader of the service Center operations, Rosemary
Melville, the leader for the service Center, Denny's, chief of office of policy of strategy,
we are very committed to this endeavor and the effort that it reflects to understand
to appreciate the dynamics in the communities that we serve and to ensure that we are responding
as the law envisions. We have selected a number of entrepreneurs who are for a time, going
to be leaving their current endeavors and dedicating their time and skill and energy
to this initiative and joining us for, as I mentioned, guiding our policies, guiding
our training, assisting our adjudicators in accomplishing their work.
I will, if I may, identify three out of the five, we are in process of letting the other
two. Paul is a technology strategist a startup advisor, entertainment industry entrepreneur
and currently vice president for community development at software technologies. Paul?
Paul is they are a tad, founder and executive director of money thing, a social movement
and national nonprofit focused on delivering financial life skills and entrepreneurship
education to urban teams through mentorship of pop culture curriculum and the University
of Chicago Senior, Ted. Ted is in the back. Paul who could not join us today as a venture
capitalist and partner with an entity known as 500 startups. The goal, as I mentioned,
and I cannot reemphasize this, too frequently, is to really ensure that US it is the ship
and immigration services has helping realize the full potential and its intent to achieve
economic prosperity. Through the introduction of foreign-born talent skill and energy into
this country. As the statutes and regulations and vision. Ultimately, what can successful
I think there is no better statement than what success can look like, then the individuals
who are seated to my right and to our distinguished panelists today. Each of them will be participating
in a naturalization ceremony following our panel discussion, which I hope will be a conversation
with all of you and I hope you will have a chance to observe this naturalization ceremony,
it is a special event in these individuals will be receiving our agency's highest honor,
the American right choice award. These are individuals who have come to this country
who have chosen United States citizenship and on their path to citizenship, and since,
have contributed to the fabric of our country to its growth and prosperity, something that
we hope to achieve for many more individuals in the coming days, weeks, months, and year.
Ping Fu As a CEO Geo magic, the leading software company a pioneer of 3-D technologies. In
2010 she began serving on the national advisory Council on innovation and entrepreneurship
in as a member of the national Council of women in technology. Michael words is a leading
venture capitalist and partner at Sequoia capital. Prior to joining Sequoia in 1986,
he cofounded technologic partners it was the third correspondent for Time magazine. Michael
currently serves as the director of companies such as kayak and lead-in among many others.
Shervin Peshavar Is in charge of a venture fund and founder and executive Chairman of
SGM, a leading social of mobile gaming company and an active angel investor and advisor to
many others. An academic researcher, writer, entrepreneur with current academic posts at
singularity University, Stanford University, Duke University and Emory University and he
is a regular columnist for the Washington Post and Bloomberg business week. Please join
me in welcoming our distinguished panelists. Say what -- the Mac --
What we will do, we will first hear from each of them, they will share their thoughts about
this initiative, there it is. Says, and matters of interest to them that are provoked by the
subject matter. A bus gathering here today. And we will begin with you and proceed along
the way. Thank you very much.
Good morning. Actually, it is an honor to be on stage with you as well as to be on the
NASA campus. Let me start with my journey to the United States. I came to the US in
1983. I had no money, no one here. And I spoke three words of English. I had a little bit
of a brush with the Chinese government when I was back in the homeland so I seek my refugee
or pledges came here as a student. Coming to the US, to a country that is completely
foreign to me, I grew up with the evolution did not have a chance to go through the normal
K-12 education, it was quite an awakening and I don't think there is any country on
the earth with -- that would welcome someone to this country as a home anywhere. There
is so many Americans who helped me through my journey. Helped me find a job, or a teacher
helping me study English. I was able to complete my study. I studied Chinese literature before
I came here that is why did not speak any English and I did not go through K-12 and
I chose to study computer science because there was nothing else I could study that
did not require a lot of English and did not require a lot of prerequisites. And just really
lucky that in the early 80s, computer science was a new field and have had to be light today,
every company is a software company so I was very lucky to choose that field and completed
my study computer science. Later, I worked at the University of Illinois supercomputing
Center, I hired a student named Mark Anderson and we developed this browser. I told him
to write a browser called that Mosaic and it became Netscape and Internet Explorer and
the rest is history. And the university kept pushing me, everything you touch turns to
gold, why don't you start a business? And I said, gold, where? Understand this, I was
raised by communist and I was a black kid that had no rights and I was nobody and money
was evil so the last thing in my mind was to start a business. I had a daughter, three
years old at the time. But I did start a business because I was in the university and everyone
was talking and everyone was tenured professors and nobody did anything so I wanted to do
something. One day my boss complained all this talk of no one did anything and I said
okay, I will do it and I had no idea what it meant and I went out to start a business
called the Geo magic and I decided to focus on manufacturing at the time when the Internet
was super hot and nobody understood why I would start a business on manufacturing when
it seems like it is going down. And I said, I really like digital technology. That is
my field that we don't eat eFood, we don't sleep on eBeds and we don't drive eCars it
in the end, something tangible had to have it. -- Had to happen. The other thing is,
I did not go through K-12 in China, I worked in a factory into my subconscious, even though
subconsciously decided to start a business to help manufacturing, subconsciously, that
is my comfort zone. I started in China building radios and TV of buildings pedometers for
cars. It was my comfort zone. So what did I do? I saw that Henry Ford started an assembly
line but we are in the 21st century, how can we combine thousands of years of hand craftsmanship
with the IT technologies such that products can be made personalized products can be one
of a kind, one of a few, not one of the millions because I believe that is the way to reverse
the trend. It is not just outsource it, you're going to Wal-Mart and you see things as they
made in China and made India, they have no culture of China or India, they are junk.
And we make so many things that nobody wants to sell I wanted to start a business that
enables companies to make things that is what we want, start with us as people, not start
with products to see what sticks. So I do believe the 21st century, that we have the
capability to design and manufacture things that start with us. The humans. And so, let
me give you a few examples of what Geo magic is. Maybe you heard about invisible line,
correcting team -- teeth with wireless practice, that they technology behind invisible line
is what we created great one year, we help to NASA launch one of the discoveries, the
first female commander and the jobless to detect the files that have been damaged in
space and create customer repair very quickly using computer technology is so they can repair
in space in five minutes. Rather than trying to put do and have no guarantee of that is
a good fix or not. That is why I'm very happy to do this on the NASA campus. When I grow
up I want to be an astronaut. My dad was a professor at an area not institute but I did
not have the opportunity to study that. I had no choice. My playground was airplane
wings. My slider was airplane wings. I ended up starting a company that contributed technology
to help guarantee the safety -- the safe return of astronauts. For life to have come back.
Go. This could not have happened if we did not have a very liberal immigration law for
this could not have happened if America does not have immigration company. We are all immigrants,
just a few generations apart so I want to share my story with you. I am very proud to
be American.
So, unlike Ping Fu in her various tarring story, my path was fairly straightforward
to America. I grew up in a small town in South Wales. In the United Kingdom, that had its
best days were in the rearview mirror, it was in the heart of the call is still making
country in South Wales and had fallen into a steady decline and decay. And while I spoke
English, did not speak any American. It was less, it was less of a challenge and I found
my way, through the generosity of people I did not know to America. Which, to me it had
all the spec and because of the energy, the literature, the music, and movies with a steady
diet for people growing up for the people in the United Kingdom in the 1960s and 1970s
and it just seems like a land of beckoning opportunity.
Financed with a scholarship supplied by other people, I came to America in 1976 and not
knowing anyone, there were two people that I knew in America, I just did not know anybody
else and gradually, I would not have been able to pick up Silicon Valley in 1976 if
anyone had asked me to put a pin on the map of America and located. And eventually, I
wound up making my home here in California in 1980 and have been here, thankfully, ever
since. I thought it might make some sense to touch on some of the themes that we see
in the business that we run day-to-day, which is the venture capital business here in Silicon
Valley, and with a firm called Sequoia capital and I would like to offer you, particularly
those of you who aren't from this area, a sense of the importance of immigration to
the vibrancy of Silicon Valley. I think probably if all of us sat down and thought for a moment,
would not take as long for us to come up with examples of immigrants who have come to America
and had a profound affect on movies, on music, literature, on sports, and other pursuits,
I think for those of us in Silicon Valley, immigrants with a passion for science and
mathematics and engineering are obviously closer to heart and let me give you some examples
of people who have made their way to America and have had such a profound effect on everything
they do. One of my heroes is a man called Andy Grove who was one of the driving forces
for three decades of Intel Corporation. He came to America by walking across the border
of Hungary in 1956 and eventually finding his way to university in New York City and
then coming west. And the tale of people fleeing oppression in other countries are making their
way to America and Silicon Valley is not something that only happened 60 years ago, Sergei Brandt,
the cofounder of Google, was born in Russia. His family fled oppressive ways and eventually
located in America and Sergei made his way to Stanford. And I could go through name by
name accompanies the people like us have been associated with where either a founder or
first-generation American was the spark that lit the company and enabled it to get off
of its poorer per pill -- proverbial launch pan. There is a video, Justin Long, the founder
of the company, was born in Taiwan. Jensen -- Jerry Yang, the cofounder of Yahoo was
also, incidentally, born in Taiwan. Max, a cofounder of the company called PayPal was
a very gifted mathematician born in Ukraine. One of the founders of YouTube came from overseas.
The company that Google bought came from the Middle East. And we have just been involved
in the last few years of the company Symantec board and it makes enterprise software called
clear well and -- Pakistan and the most successful new computer network it company, born in Silicon
Valley in the last decade is Palo Alto that works. -- Networks, technical founder was
born in Israel. Immigrants , take immigrants out of Silicon Valley, and you have no Silicon
Valley. Inject immigrants into Silicon Valley, and there is no limit to the future of what
might be possible. But, speaking as somebody who has worked and lived here for three decades,
the number one problem and I was saying this to the director before we started, but number
one business problem that we have that Silicon Valley is not competition, is it issues associated
with real estate or hiring people, it is bringing the most talented people who can start and
build companies into America, is the number one problem that we have facing us and we
are empathetic, we understand the reasons why it is more difficult today than it was
10 or 20 years ago because of 9/11, because of high an appointment or are empathetic and
understand that but believe very deeply that the unintended consequences of clamping down
at the borders mean that the lifeblood of Silicon Valley is inadvertently getting choked
off. And I will finish with just one other point but you also learn a lot about the country
that you live in when you go overseas. And a couple of years ago I was fortunate enough
to spend some time with the leaders in Singapore and learned that one of the things that they
do to keep Singapore vibrant is to go out and send -- into the high schools, not of
Singapore, but China and India and they recruit those people to come and study and stay in
Singapore to help make tomorrow a vibrant so what would I dream of? I would dream of
anonymous that we could have been Sequoia capital will host to shoot allowed us to automatically
stamp and give green cards to the talented people to generate prosperity for America
[Applause] >> [Indiscernible low audio]
Good morning. My story is not unique publisher it in terms of our family story of coming
to America. I am basically a child of revolution. I am from Iran and they came from a poor family
in Iran and ambition and dedicated to education so my father was from a small town on the
Caspian Sea and was orphaned by the time he was 12 but he loves books and negotiated a
deal with a small bookstore to get books cheaply and would read them by candlelight so he basically
braced himself and went to the university and was identified as a talented up-and-coming
person in the University of Iran and was given a scholarship to come to America for his graduate
studies so in 1976, actually, I was too then. >> Ironically, that was the Bicentennial of
America. So I arrived when I was two years old in Washington DC and two years, the worst timing one could have
gone back in the revolution and could have been promoted for half the country. He made
a pretty brave decision to put the foreign-language broadcasts with embassies on national television
and radio to tell people how to get out of the country. Khomeini put them on the expedition
list of my dad had to go into hiding and I still remember I was four or five at the time,
waking up to the sounds of my brother crying and who is six years older, so was a little
embarrassing for him for me to tell the story, crying because my dad was at the door about
to leave the we did not know if we would see him again. And we did not see him for two
years but he escaped and there is quite a good Karma story, the person who helped him
escape, he had helped you knew from a small town and 10 years before this, he had gotten
him a job and a guy came out holes in the shoes of my dad gave him a job and this guy
came from a religious family and ended up actually being head of security for the airport
so this person that my dad helped a number of times ended up actually escorting my father
directly onto the flight ticket out of the country so you never know when you help someone,
when it comes back to help you in return. All we were there, we were -- the war in Iraq
started, more bad luck but at that point I was five or six and there were bombs falling
in Tehran and I cannot rationalize what was going on as a kid, but the bombs would fall
and I remember dreaming of going back to America and being with my father and he would call
me every once in a while and seeing these special songs that I would tell him how much
I missed him and we successfully got out of the country two years after he had left and
joined him in America and at that point, we had nothing, for dad was driving a taxi, had
a masters, my mom who was a teacher, was cleaning hotel rooms and register ourselves into the
books and we stated as much as possible and part of that was the happiness of the pride
that we saw on our parents eyes we succeeded. But we achieved. And we founded America, a
place for there was no limit to what you can accomplish as long as you're willing to work
hard. We found a place where people were always open to people with talent and who worked
hard and doors were opened and ended up going to Berkeley had an incredible time they are,
publish when I was 20, Berkeley file a patent held by malaria research of my dad, typical
immigrant, one of me to be a doctor and I rebuild my senior year and was inspired by
everyone in Silicon Valley to start my own company based on a web offering system called
Web OS. Then I started the company and decided not to go to medical school and my father
did not talk to me for a year. Ultimately, I raised $10 million and he started talking
to me again. So that put me on a journey in Silicon Valley to pursue my dreams are what
I found, as Michael alluded to, a place that is as perfect meritocracy issue ticket. It
is not exactly perfect. We need more women have more minorities are more African-Americans
here but if you're talented and you come here with a dream, those streams are possible and
doors are open to everyone coming here and my dream, similar to Michael's, I cofounded
the start a visa movement to help push that forward and has been a wonderful ally in helping
refine those ideas and the ultimate idea would be, actually this is something I talked about
before, what I call a genius prize for US citizenship very go from passive recruitment
policy to act good recruitment policy and we go around the world we find the most talented
people and we invite them to become Americans with us and joined the American story. Thank
Five years ago, my research team at Duke and Berkeley did a project to look at the contributions
US Americans use for competitiveness and we documented 25% of startups nationwide of 52%
in Silicon Valley were founded by immigrants. Think about it, this is the most innovative
land to the world. 52% of the startups are founded by immigrants. We were shocked at
the results. Look at the background of the immigrants that we founded typically came
here to study only 1.6% and they came here as entrepreneurs and with all of the country
and started working in 30 years later they found that the companies that is what was
to be competitiveness. If I did the same research project today, 52% is down substantially.
It is not the immigrants are less competent or cultivating less of the US economy, we're
sending them back. My generation came here to study where to start at companies, one
employed 1000 workers and one of which had 40 workers. If I was to come here today would
not be allowed to stay because the visa is simply not available. I might be able to get
a temporary visa if I'm lucky and after five or six years I would have to leave or if I
got in line, how we stuck working for the same employer, in my case, being an Indian,
the 70 years, Chinese would be 24 years, that is how long the wait is. People who would
be starting companies right now, can't, they are stuck in limbo in the immigration system
is a complete mess and they're going back and I've also been documented the reverse
brain drain. America is experiencing first brain drain. They don't even know what a brain
drain is great Indian China and is coming Europe knows, immigrants coming to the United
States over centuries and they made this country what it is that America does not know what
a brain drain feels like. It is happening we don't even feel it. Talking to my students
at Duke, which I do all the time I ask what their plans are about staying, and they look
at me funny and say, what do you mean, stay? There have the state one or two years to give
US job on their resume that their plan is to go back on. You talk to students at Stanford
and the vast majority of them want to stay to start there to base here but the adjective
bases and they're going back to India and China and the result is, to go to the caf&#é;s
in Shanghai or Beijing and you see the same buzz and activity, there's so much excitement
and you will find a third were 50% of the people you meet are returning from America,
people that we forced to leave this country. They are starting companies abroad which are
competing with us. Technology has changed the world is becoming smaller because of connectivity
and also exponentially expanding technologies are increasing the point that you can now
solve the grand challenges of humanity sitting in Tanzania or anywhere in the world having
of access to the same knowledge everyone here desperate America no longer has a monopoly
on knowledge for there was a time when you had to be here physically unable to innovate
and he don't have to do that now, you can work with Americans from anywhere in the world
to get access to the same knowledge and technology anywhere in the world, you don't need America
anymore. And what is happening, you're having innovations sprouting all over the world.
While we get more arrogant in America and close the door, I take fire from immigrant
groups like you won't believe that every day I get dozens of angry messages and death threats,
you name it. The rest that attacks from anti-immigrants for being so vocal about this topic and the
problem is, they go through to the senators and congressmen and spread fear of our particular
jobs away the need to close the door. The problem is, politicians listen to the small
but vocal minority and they have stalled immigration system. I know they mean well. I would be
its most national critic because of the Department of immigration but I'm his biggest fan. I
have a blown away with how he is listening, he's doing everything he can within his power
to fix the system but he is handicapped. He is constrained by the Congress of the Senate
and he can't do anything but make it easier and that is all he can do. The initiatives
taking residents into the immigration part of -- from his great printable help is just
a patch that will solve the problem that will solve the massive brain drain that is happening
to this country will continue believing we were going to wake up five years from now
and realize that Google and Intel companies coming out of India and China, which could
have been founded in America. That is when they're going to wake up and fix immigration
policy in the trouble is, by then it will be too late. My student will be spending half
of his time abroad because that is where the money will be made. What will happen, then
we will have created competitors worldwide, we could have had the innovation here, jobs
being created in America, yet they're going to be overseas. It is a tragedy for America.
My perspective for what you're doing, this is wonderful, at least we're trying to fix
the system but this is not nearly enough. We need a movement. We need a movement, just
like Silicon Valley rebelled against the evil tyrants from Hollywood they were trying to
restrain Internet, maybe not the evil tyrants but we need an equally powerful movement stemming
from Silicon Valley which was just heard across the nation which causes people to go to their
congressmen and senators and get them to listen to Silicon Valley, get them to listen to the
innovations across America and demand that we create jobs that we allow people to come
into this country into a previous generations have done, make Americans work harder think
faster compete and retain their position as leaders of the world, we have to launch this
movement and do it now because the elections are going to come in to the same politics
will prevail unless we do that. >> [Applause] Thank you very much and thank you
to each of our panelists. In support of the need to change the immigration laws so in
fact, we retain the best and the brightest, he commented in his speech in El Paso Texas,
in 2011 about the fact that everyone comes here to become educated to receive the fruits
of the best education system in the world and the pathway to retaining that talent are
too restricted and I think that is what he speaks to you. At the same time, existing
law does have tremendous potential to attract talent, foreign-born talent. There are discrete
paths available in the issue for us as an agency that his ministers existing laws and
is committed to realizing its potential, and it's intent, is to ensure that we are doing
everything possible to make those pathways smooth and fluid as possible. We would welcome
any questions or comments that you might have for our panelists. Otherwise, I certainly
have a number of questions and thoughts. Sir, if you would be kind to identify yourself.
[Indiscernible comment from audience]
Thomas Williams, I would not normally speak that I have -- I flew from Virginia because
I think this is important. You don't need the laws to change. Each of you came in basically
under the same laws that exist today. The problem is, there are tremendous, I am an
immigration attorney. What we are saying is tremendously long request for evidence that
are being submitted to people. And there is no need for it. I presumed that you saw the
anti-abroad article that has just come out February 24. It is quoted, despite hurt the
ability of our companies to keep jobs in America and to compete. It is not that the laws have
changed, it is not that you need to go to Congress, it is that the immigration service
has got to change its attitude, you have got to train your people I've been practicing
immigration law for close to 25 years that I used to joke that I could tell when immigration
service has hired new people because we would get these unbelievably outrageous with the
documents that are not required under the law and probably the last year and a half,
that has become the standard so it is no longer their untrained people, every case has problems
and there is no basis for it in the law, these people making the decisions, are clearly not
being trained because all they are doing is looking for reasons to deny if they can't
find anything, they're actually making up these things asking questions that are not
in the law. So I have to say, what is being done to correct those problems? This is new,
the son of the current administration, it did not exist before, does not require a change
in the law requires good people that know what they're doing to make decisions and to
not issue ridiculous RSV.
Let me interpret that question is being directed to me. [Laughter] Let me say, a few things.
Because the good people we have in our agency, we are very dedicated to training them and
equipping them with tools to adjudicate cases and picture that request for evidence are
issued when appropriate and formulate it as appropriate and I saw Jenny who is the head
of our training efforts and we have a great deal of -- planned and will be unveiling shortly
with respect to enhancing our training programs. The point of the out-of-doors in residence
initiative, one of the points is, in fact that our adjudicators that we need to educate
our adjudicators that the reality of the business dynamics, the realities of the petitioners
and beneficiaries and thereafter evaluate the content of existing
law to make sure we educate them about the shifting landscape so that do not issue a
RFE notice of estrogen are founded on a business model that no longer applies to the petitioner
before us. We thought it was a critical and frankly innovative step in enhancing our training
was bringing the training that help them guide our training modules and improve our processes so in fact, a rent -- a
rent RFE which do exist are eliminated. So they understand the problem, what you articulate
is not something I have heard before and today is a very important step in the business of
solution development. >> Just to clarify, I am not a lawyer. I think there are a lot
of people who are picked IMA entrepreneur and I used to work at Oracle for months back
and the reason why I did not start my own company, and instead joined another company
was because of the green card. I think the processes are too long and the focus that
we should have is on how to expedite what the processes. I think that RFE is here for
a reason.. But the thing we should focus on how to do it, like Michael's idea a lot, there
should be a tie between where the money is, and the immigration department itself. That
is what my comment is in my question is, is there anything being done for people who have
their immigration and process? And want to start a company because it is the people who
have been in the country for a while who know what they are doing and trying to fast-track
them start a company and create more jobs.
So I appreciate the comment in the question, who will defend -- depend on the facts in
terms of any sane individual is in the process already that it depends on why they are in
the process and that may serve as a basis for those starting a company or not, it depends
on the particular facts. >> I am a proud immigrant. My question is, unlike the gentleman spoke
earlier, I believe the law has to be changed and that is after 20 years of studying the
law, has there been serious input or workshop or recommendation to have the recruiting of
talent and creativity outside the recruiting by the government as opposed to individual
companies? Are we looking at anything like the Singapore model that you mentioned?
I am not aware of an organized initiative like that in fact, I learned recently that
California had to close down its offices in China, not that these offices were out seeking
bright young students, they had to stimulate trade that they had closed down their offices
because they did not have enough money. So shaky and America, brain drain is absolutely
correct, I have a half tongue-in-cheek suggestion but imagine if the TSA, all those wonderful
people that you encounter when you are flying overseas were to domestic destinations, instead
of being charged for looking at things as potent and dangerous has 4 ounce tubes of
toothpaste and bottles of fragrance of your baggage, but instead were charged with trying
to ferret out and master's degrees, certificates of engineering and math and science from the
25 top universities in the US. And if incriminating business -- evidence was found in the baggage
of foreigners to automatically give them a passport and sent him back into the country.
So if I can, let me ask our fellow panelists a question before I converted the gentleman
in the audience. If indeed you speak of a brain drain, if in fact the process to come
to the United States was more fast, because we are administering existing laws were able
he or the laws themselves change, what is it, you speak of a tremendous level of activity
in India and China and other countries, but then will draw the talent here as opposed
to elsewhere? I'm curious to know what are the attributes of the United States that would
make this country of destination that always has been?
If you look at the visa that they had a working so hard on, my prediction is that we announce
we got tens of thousands of entrepreneurs applying for, will supply that between one
and 100 in the next two or three years, you're talking about hundreds of tons of jobs for
nothing, for the cost of zero, you will have money coming in from all over the world because
most of these entrepreneurs will have savings that they bring with them, you have a boost
in the economy for a cost of zero.
I completely agree with that, just so everyone knows started beside you is, it is something
a number of us, actually two in a half years ago, came together and propose to that we
basically reformed immigration law to include this new idea or part of it we were trying
to basically make the argument that we are not adding more, that we would initially be,
the idea is to draw on the existing visa which some call a millionaire visa which allow people
who are actually going to invest at least half $1 billion in starting a business in
the US but take a good BB five -- they could give AEB five" the -- the quota was 10,000
of those were individuals that could invest the money, they were wealthy, that goes against
the American ethos in the first place, they should be based on merit, not your bank account.
And so, what we found, only 2000 of that 10,000 was even used this we have this extra quota
that was leftover Halloween proposed was said that investment coming from individual, let's
disrupt this and creatively use the same quota but apply it to entrepreneurs who raised at
least that amount of money for US investors. So people like Michael and I have we found
entrepreneur, this entrepreneur is amazing and we are willing to fund this and that would
automatically get them in the process to get a start of visa to come to America and they
would have two years to create a certain number of jobs and if they did when they came here
with that funding, they would actually be able to get a green card and get on a path
to citizenship. I think that is a fantastic idea. Not just because I was a cofounder,
I think it could be a great thing for the American economy and NASA think again, going
from passive to aggressive or Krugman, to your question, coming up with an award marketing
it as a genius prize or whatever you want to call it, we have the 01 visa and I have
used that a number of times were credible entrepreneurs and that is great, however,
it is limited process that doesn't scale well to coming up with a prize, people dream about
coming to America and suddenly they get a letter saying you have been identified as
an incredible human being, you are an exceptional person and America wants you to come and become
an American, I think your conversion rate on that it's want to be 99%. And we could
recruit some of the top brands in the world.
I do have one postscript to the question that you asked once ago which is about recruiting
the right people from overseas and I think that is actually a very active recruitment
process that occurs but a subliminal and somewhat invisible and not active but it is not active
outreach. It is at the university level and if you look at the top 50 universities in
America and you look at their incoming classes, particularly for graduates there is a tremendously
high proportion of people from overseas who are attracted to come and study because so
many fields, American leads the way and universities have no trouble attracting these people can't
I would like to say politely, is probably a more effective allure than a government
program, although I am sure there are good ideas that could help. The issue that we have
his word happens to these people upon graduation where you don't lay out the red carpet for
that. That is the missing step. >> In the US office we have 100 people, with 27 nations
have systematically go to universities to recruit top talent around the world as well
as Americans that we hire. I noticed that the barriers first of all, foreign student
can do practical training that is legal, so you can get very bright students to come and
do practical training and if they are great you want to -- for them and has a pretty -- process
and many innovative startups were early-stage companies needs those talents and they cannot
afford it. We actually sent funds aside to do that, it is a high burden so when I was
starting out, one of the policies was to help startup innovative companies. If you give
a tax credit for creating jobs, wanted to give assistance for people to go recruit great
talents? America today is a fertile ground for entrepreneurship and people want to stay
here. And we continue to allow brain drain and we start to lose great people and would
be less desirable in the country for people to want to be here. We on that great people
attract great people so a country with great talents attract great talent that when we
start to lose it would become less attract. >> I'm an attorney in California. To some
extent I disagree with my colleague, Mr. Williams, this problem without visa issues, finishing
up rules, started two years ago I think it began 10 or 12 years ago and increasingly
becomes more and more cranky. And it has been we have been told for a long time it is a
training issue. And now I think it is just a euphemism for incompetence. I am sorry to
say that but it is the adjudicator at the bottom of the pile and makes a decision to
deny me a visa application. And that person is not being trained perhaps. That person
does not seem to know how business is done does not seem to know the reality of how people
are recruited, it does seem to understand the other processes that go into making a
business. And that is one of the problems. That is one part of the creation. The second
part, nowadays, increasingly so, the visa issuance process so you want to petition is
approved, it is often delayed or denied abroad so what happens? How is that being addressed?
I appreciate your candor and I applied to respectfully disagree with you. I think the
data, frankly, reflects the competence and skill of the workforce and I think one of
the things that we are really focused on today is the fact that we have not trained or adjudicators
to a fully understands the attributes of a startup venture as opposed to a more established
institution there are proposals submitted to us for established visa categories that
are innovative or unorthodox and I think we have an obligation to understand what they
are to appreciate their legitimacy to identify conditions that would reflect the lack of
legitimacy which we also encounter and to do a better job what we are doing today, I
think is sharing with you that we're going to bring in experience and talent into her
agency so that they can guide adjudicators competent and skilled adjudicators to recognizing
changes in the business landscape and adjudicating benefits as a result.
What I feel about this question whenever the economy is bad, the agents at USICS tend to
deny more applications but when the economy is good, the approval rating is pretty high
sign on for this training our patriotism down it. The fact is, I hope that the director
can instruct the adjudicators down there that don't approve leniently to what are the engineers,
we need each one of these engineers of course with their awesome applications for copywriters
or directors and other types of professionals but the way I see it, it is easier to get
approvals for the engineers it is less likely to get approvals are more likely to get other
types of professional work. So that is what I am seeing right now the last two years.
Only the last two years because the economy is really bad. Now, along the line of the
BIR, the topic today, there have been advisors for treaty countries for there to be a category
that established for non-treaty countries, to give non-immigrant visas to individuals
to invest at least $20,000 were more into the US to get a non-immigrant visa to come
in, to bring investment to the US and at the same time they will be able to start up their
own companies, they can hire individual US workers, to test water, that will be my suggestion
our Senator. Clay investing in million dollars to get green cards that can also get a non-immigrant
visa by investing into those centers to test the water first and then they can move on
to gain the green card and injecting more capital than he can think along that line,
along with the start of the sub proposal, -- start of the visa proposal will be a faster
way to get more people coming to the US. Started with a non-immigrant visa with investment
for non-treaty countries.
Thank you very much. I wasn't sure if your comment at the outset was anecdotal or a purple
with respect to adjudication trends in relation to economic conditions in the countries that
anecdotal or did you actually conduct a study?
For the last 30 years, I think you can ask all the people in the room have been into
immigration practice. They can really feel the adjudication is based on economic situations
out from USICS on economic situation is really good because he a lot more approvals unless
RFE. If you have economic conditions that are battling the last two years, the RFE are
very boilerplate and down to the bottom line,, even though we submit a booklet of evidence,
they will go ahead and say, I want to deny it.
I am actually looking over the approval, making sure trend analysis is accurate but be that
as it may, we should also be mindful of approval to my own. So what they tell us that what
they don't tell us because you have to be able to demonstrate in a study that was scientifically
sound, was not necessarily a denial rate is going up, but you would have to look all of
that behind that and say, are more denials being issued when the underlying petitions
to serve approvals? Beyond because I have not conducted a study with more petitions
that don't qualify under the statutory and regulatory eligibility criteria are being
filed in certain economic circumstances as opposed to others and I think I do want to
debate that point now, I think the point with respect to RFE is a drumbeat we have heard
very we are not all in the problem identification business, we are on the solution development
business and I think this is one important page in the development of solutions because
what we are talking about today in terms of entrepreneurs and residents. >> I am an immigrant,
I guess you would say, my question is for the panel. I spent six months last year struggling
for a visa and it was stressful because her company grew from 500% from six people to
30 people in about six months but the biggest risks to our growth and success was the fact
that I might need to leave the country, my visa application would get denied any day
and I would have to leave the country and one was denied and one was RFE the other was
approved so is a stressful experience on I would not recommend it but my question for
you guys, this seems like an idea, have come to a few of these over the last couple of
years aside that having these issues in their a lot of good ideas people talking about things
that make sense that when you read the paper and talk to some of these politicians they
agree that it makes sense. They don't see at creating new jobs is not controversial,
seems to be an idea that everyone agrees that makes sense. And so, seems to me, the idea
makes sense, so seems like it is a marketing problem. Maybe a lot of people out there don't
know what is happening here, are what works with the start of the why startups create
jobs and why we are not taking jobs from other people, some people don't understand that
very well. This doesn't immigrant an entrepreneur and an example of what we are talking about,
it seems to me that the most powerful way to change people's opinion about this are
probably stories the entrepreneurs and the question is, to the panel, how can we get
those stories out there more and into hands of regular people so everyone realizes this
is a problem and there's real difference we can make with solving this problem. That is
the biggest problem in the end, people to understand this is a big deal and if everyone
understood that you would assume it is an easy passage to Congress. What we do there?
>> I know Roche, he's an incredible entrepreneur and I was aware of what he was going through
and this is not a unique problem. It has been happening a lot actually. A number of startups
actually, there a couple of situations where the entrepreneur was deported and taken out
of the country and desperate to get that fixed and is he here? Oh, hey. You would love for
you to tie your story but we all jumped in to try to help but this is happening and we
almost need an emergency line. There is a red phone in your office, I would issue a
red cover for your iPhone. The company to find a direct route to fix immediate situations
and plug the holes and what is inspiring, as if you were coming and from abroad and
to America and there is a video playing of Americans and Stars & Stripes sent it is a
beautiful video, do you know about talking about? You probably edited it. So, having,
this is the whole outstanding America by choice recognition, in that light, telling stories,
I think it would be amazing if we had the there is viral videos of these stories , that will help because been of the
day, this is a very political issue. I completely agree a terms of how dramatic it is in the
future of America is dependent upon growth of economic growth is dependent on a solving
these issues but at the same time and I've spoken to the president about this and others
in the subsidiary political issue and we have to be cognizant of that and part of that is
going to be marketing and winning the hearts and minds of Americans and showing them the
actual evidence that Michael talked about and actual numbers but also the inspiring
stories of immigrants who have come here and have contributed to the American story.
It doesn't seem like you have the necessary power to be able to fix things immediately.
I wrote about the Washington Post, nothing happened in ABC news put them on national
TV and suddenly, the next day, everything was fixed, we can't be everything -- getting
everything off of ABC TV every week, they don't listen to us, and please send an e-mail
to you, goes into emergency hotline to get a response explaining why this person wasn't
getting an e-mail. You don't respond to me, I am told.
I don't remember the chronology, but I'm not going to contribute causation.
Is a coincidence, that he got a phone call saying, you're all right, you can come back.
One of the eligibility criteria is not media attention.
I actually, being a year and a half now, the policy Council and startling the complexity
and also the work that goes into changing policy or rules. I think it is not enough
to just have media attention. It is great to win minds and hearts really needs more
entrepreneur does and to help make the policy changes, there are a lot of people that are
well-intentioned but they may not have the knowledge that we had and one of the reason
that we spent up there to do that, you are ready a company, how do you have time to do
that? And if everybody doesn't do that, nobody is client to hear our voice and it is a lot
of work it takes a lot of patience and takes a lot of sweat to do it and it is completely
incompatible with the speed of entrepreneur rules are used to. That would need more people
to be involved and to put their time and effort to do that because otherwise, our voice is
not going to be heard.
I think one of the challenges that we have, sitting here in Silicon Valley, all of us
being impatient, his that we don't really live in America. And if you live in the America
of Buffalo New York or Akron or Detroit or Grand Rapids or down in the South San Antonio
and if you look at this issue in a very different light and Congressman and Senators who depends
on the support of that to chew on -- constituents to take a very unpopular stance when it comes
to the sorts of issues that we have been talking about. Any educational marketing campaign
has got to recognize those really profound challenges those people have with their constituencies
with 25% unemployment rates were higher or influxes of immigrants across the border and
sitting here in our wonderful bubble, I think sometimes we forget the pressures, that is
tangible pressures on these individuals.
First I would like to thank you for this initiative. And I hear all these immigration stories and
I am slightly confused because I find myself in the same position, I am a business student
and I work for a software company and I want to start a company that I am stuck to make
situation and I will be stuck for the next few years, maybe four or five, I will go back
to my country and start a business they were then be stuck here so I would think that this
initiative and if I am able to raise money here, let me do that can't I don't think that
is a very hard thing to do. Maybe not 1 million, if I am able to raise -- let me get a visa,
it is not a very ideal situation, I know many of my friends are in a situation and they
are looking back because they cannot stay here in the visa situation is very difficult.
Our going to create the jobs are here, they went back to India?
Something a number of people in the audience have spoken about, and I think the fact that
you and others on the panel have spoken about and not with respect to adjudication practices
but frankly, underlying that, the need for additional pathways for individuals with talent
that want to be entrepreneurs that want to raise capital and create US jobs and pathways
are more limited than I believe they should be.
My name is Jonathan Nelson and I've run in networking group and I started four years
ago. And it was a beer guy with a guy as primitive Silicon Valley I am a nurse and I went back
to school for software engineering I moved to Silicon Valley and work for 10 or 15 years
learning how to be a startup founder and a CEO and last year I was working on building
that is coming out of developing countries but my beer night with the guys have 5400
members in Silicon Valley. We have taken an open approach to other groups around the world
who want to have this same sort of entrepreneurial support group at a bar and we now have 14
other chap verse worldwide and over 13,000 members and the guy who started hackers in
the Ukraine has 20,000 Russian speaking developers, his first event had 140 Ukrainian engineers
interested in starting companies and a friend of mine runs a website called startup digest
promoting technology startup events worldwide and they have a mailing list of 300,000 members
worldwide. And I will bet you $1000 that will bounce because I am a broke entrepreneur myself
but every single one of those 300,000 people on that mailing list would give their left
arm and left leg to come to Silicon Valley on a green card and started business. But
I am not an entrepreneur but you may want to start a pub. [Laughter]
I totally understand and I wish I could, do you know anyone who can get me a beer license?
And I just want to reference the brain drain issue, I have done a pretty good job at supporting
grassroots entrepreneurship and a group of people from the government of Chile came into
my group. Does anyone not know what startup Chile is? It is an amazing program that the
government of Chile has put $100 million into funding 1000 companies and $40,000 apiece,
they came into one of our events and they were like, hello, and I said, let's talk and
they said you know anyone wants to come to Santiago to work with a startup? We need more
applicants? And I said, yes, your problem is fixed. Just a couple of e-mails to my other
organizers got the 200 applicants to 650 applicants in three days. 35% other applicants came from
the United States and 15 of those applicants and the current batch came from Silicon Valley
so it is a very real issue of brain drain and I happen to now, -- will be coming, he
is the executive director he was just meeting with the Kauffman foundation with 15 other
developing countries who want to have other programs and the first step is welcome to
Chile, here is your visa, the next day, here is your bank account, please start your company.
I am normally not a political guy but when I submit one e-mail to my mailing list saying,
telomere immigration nightmares, and give me your e-mail address in case you're okay
talking with the media, I have 60 heart-wrenching, get wrenching stories of people who want to
create jobs but they can't and --
I just want to make sure that others have a chance. I think you are echoing the sentiments
that have been expressed with respect to creating a path for individuals who want to start companies
that create Job spirit -- create jobs.
I just had a question that was e-mailed in to us. Based on USICS data it appears that
there was a sharp drop in approvals in visa categories for 2008 at 2009 but since then,
the numbers have risen back up to the prior levels, this person is wondering what the
reason is behind the sudden drop in 2009, there is a policy or a procedural change our
resistance on part of adjudicators to bring in more -- based on the number of appointments
and if the numbers have increased again, there something that we did with the agency to change
Thank you, Stephanie, it is very difficult to answer that question because all visa types
have been grouped together, certainly I participated in a public engagement with respect to the
L. visa category, the intracompany transfer of individuals with specialized knowledge.
I participated in engagement a number of weeks ago and there are some participants attributed
the rise in the denials to a particular decision had been made by the appellate division and
really, that is not something we are in a position to comment on, just because we haven't
undertaken a study of trends over the past five or 10 years, you will see, frankly, across
all visa lines, you will see trends in different directions at different times and sometimes
they go up marginally and sometimes they go down marginally but it was a rather precipitous
drop in approvals in 2008 and as I've mentioned, it was attributable to a decision, GST.
I just want to comment on a startup Chile program is something that has started to inspire
other nations and I think we should be terrified of fat and personally, a number of really
talented Americans have gone to Chile as a part of their program and as you said, they
begin in apartments, $40,000, red carpet treatment, to come in and start companies and I think
what we are realizing, we are in the arms race for talent. And we have to fix this and
the one thing I wrote a couple of days ago, but I really believe, nations who don't value
talent, don't deserve it. And that rule applies to countries like Iran and Stanford's engineering program PhD program
a couple of years ago, out of 30 PhD students, 20 or so were from the University of Iran.
As they reeled drain -- brain drain right there. But the same thing will happen to us,
and what I would like to propose, if we can integrate start up America with some of these
initiatives as well and the question I have, is there a quota for one, is there a way to
more aggressively bring in the talent?
There is not a quota for 501(c) think the comments with respect to the legislative restrictions
on the past for entrepreneurial talent are given in our commitment as an agency under
existing laws is to ensure that we are fully realizing potentials and that is what today
is about. I think we have time for two more questions.
First of all, thank you for being here, I am Oscar, claim Danish. And not American.
Last year I opened up offices for group on that it is amazing what you can do in six
months and it is a little bit frustrating to spend more on that to get a visa here.
So I'm happy to see all these people here because it seems like everyone here pretty
much agrees that it is pretty fantastic and my reason for coming here, you have to defend
what you are doing here. And it is a tough job to be here today. I can assure you. So
seems like two things of the option here, I have only been here for four weeks, so bear
with me if I get things wrong. In the short term, what can we do with flexibility in the
short term? And secondly, how can we market and explain to people out of the Silicon Valley
bubble, what is going on in America so that somebody wants to sit down and use a video
and I am happy to help with this. I am happy to connect with people outside the US, I would
love to help you and my question is, is anything we can do within the current laws? It would
help her do anything to make it more flexible? M. sure there are more people like me who
are willing to help for providing good things and contribute, anything we could do to make
it more flexible and the timeframe, the paperwork, all the risks that we know about risks in
return, it has tremendous risk to the person, and putting their lives at the launch of these
businesses so is there anything that we can contribute in making things more flexible
under the current laws?
I appreciate the question in the spirit which in this post, I would say the following, I
think it is helpful you are here today Olive you are here today invested in the development
of solutions. I have said, before, in our agency, but we should not shrink from criticism,
we should just work very hard not to deserve it I think you have an obligation to the surface
of your clients and yourselves in the service of your friends in the service of those that
wish to come here and dream of accomplishing with us on this panel have accomplished, to
tell us what we are not doing well. So we can fix it. I has to think that it is important
to be able to champion success and be able to identify things that are working and use
them as catalyst for further change in further improvements in further success and I think
both are necessary and that will lead to find the proportions. Think we have time for one
more question.
I think so many people want to get a word in that thank you for this opportunity. My
name is Scott from a startup. I am Scottish, I have to add the words American to the end
of that sometime this year. I want the USICS to understand that there are so many uncertainties
time to buildd a technology startup. Practically every day you are asking yourself if you're
doing the right thing? Am I mad? And the immigration process should not be something we have to
worry about, but it is something to worry about because I don't know where my home is,
is that the UK right now or is it here? I feel concerned about that. Immigration process,
uncertainties over what is the right thing to apply for? If you get it, when you get
it, how much ultimately will cost you. The second point I wanted to make, about the brain
drain, and you are right, there's clearly a brain drain because everywhere else is getting
better, everywhere else is getting to move up. I am British and in London, they are touting
to be the tech center of Europe, but is clearly the case that they are engineer of, he said
some can move to London at the drop of a hat, they can drop Daschle to drop a packet of
a planet outside of London. The British government a year ago set out to introduce prospective
entrepreneur visas. They did that in six months. And now you needed to get the visa was a letter
from one investor inviting you to the UK for one meeting and you get in for six months
if you raise money, and it is not a big amount of money, he can stay and run your company
so I just wanted to let you know about that. Thanks.
Thank you very much and thank you all for being here and for engaging in the conversation
and most of all, thank you to our panelists for lending their time to us. We're going
to transition and I'm going to leave it to Rebecca to chart the course ahead.
I just want to thank you on behalf of all of us here, I think you are an incredible
leader at USICS and we are blessed to have you in that position because it is a change
from what we have seen in the past. >> [Applause]
Also, please join me in recognizing all the panel is for this engaging discussion. [Applause]
We are delighted that we were able to incorporate a naturalization ceremony into today's meeting
and for those of you that have not had the opportunity to be present at a naturalization
ceremony, it is really remarkable and often inspiring so we are going to pivot now, the
ceremony will begin at 11 o'clock sharp, we have the candidates and their families waiting
in the Ramsey have about 10 minutes if you can make your way to the naturalization ceremony,
we plan to start at 11 sharp and Bell is try to ensure that the ceremony is about the candidates
and their families and the new citizens will be transitioning to back and reflecting on
that as we move to the naturalization ceremony and we look forward to joining you there as
well, so thank you.