Can anyone think of a wonderful business (think truly great) that couldn't get funding until they were in the US?
From what I have seen there is tons of money if your model is great.
I think the counter is true: it's much easier to raise money for bleeding edge ideas in the US. But, ask yourself whether you want to be doing a bleeding edge business (e.g. based on twitter or facebook) or one thats more likely to make you wealthy (B2B).
Can anyone think of a wonderful business (think truly great) that couldn't get funding until they were in the US?
How would you know? You only hear about the success stories and the spectacular failures, not the full spectrum in between.
But, ask yourself whether you want to be doing a bleeding edge business (e.g. based on twitter or facebook) or one thats more likely to make you wealthy (B2B).
Just because you'd prefer to do a B2B startup you want to deny others from trying to go straight to the top?
"How would you know? You only hear about the success stories and the spectacular failures, not the full spectrum in between."
By truly great I was meaning something that was a spectacular success. Every company I have ever had the pleasure of knowing personally with a great model had plenty of capital, whatever location they were in. Others who thought there model was great, but clearly was too risky didn't.
"Just because you'd prefer to do a B2B startup you want to deny others from trying to go straight to the top?"
I am not denying anyone from starting anything, just pointing at the facts. It's much easier to get a B2B making money than a twitter widget that isn't charging.
In my opinion, those types of businesses are never going to be the next youtube, so why bother. You either go for the home run or the easy money. But that's just my opinion.
That's because US citizens seeking VC who haven't moved to Boston or San Jose usually have no good excuse not to; for VCs, it's an easy way to filter out undedicated founders. Foreigners who want to move there but can't get a visa have a much better excuse.
That assumes that VCs have a need to invest in people outside the valley or Boston. VCs would have to travel outside the country to meet potential founders (since they don't yet have a visa) There are enough founders in those two places that VCs don't have any pressing need to jump through such hoops.
I think it's likely that if this visa existed, VCs would adapt to it by becoming more open to funding people who haven't immigrated yet.