Here’s still another edition of “Dear Sophie, ” the advice column that answers immigration-related questions about working at technology companies.
“Your questions are vital to the spread of knowledge that allows people all around the globe to rise above borders and pursue their dreams, ” says Sophie Alcorn , a Silicon Valley immigration attorney. “Whether you’re in people ops, a founder or seeking a job in Silicon Valley, I would love to answer your questions in my next column. ”
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Dear Sophie:
I’m a startup founder looking to expand in the U. S. I was originally looking at opening an office in Silicon Valley to be close to pc software engineers and investors, but then … COVID-19: )
A great deal has changed over the last year — can I still come?
— Hopeful in Hungary
Dear Hopeful:
How and where work gets done in Silicon Valley (as well as in much of the world) shifted during the COVID-19 pandemic. Having said that, yes, it can still make business sense for many to become listed on the Silicon Valley ecosystem.
According to a recent report from PitchBook , Silicon Valley will continue to be the center to VC investment and high-tech talent, even though several weighty tech companies relocated from Silicon Valley and applied full-time work-from-home policies — and many predicted that “the Bay Area tech scene as we know it would be lost, plus VC would find a brand new home. ”
Clearly, while the pandemic’s impact on the venture industry will be felt in years to come, VC will continue to be centered in Silicon Valley. In a recent episode associated with my podcast , We discussed work trends and how to use immigration to support business priorities as well as attract and retain talent in the United States.
The PitchBook statement points out that Silicon Valley “has kept a tight hold on fundraising in the U. Ersus., closing on commitments exceeding $151 billion over the past 5 years, more than the rest of the U. S. ecosystems combined. LPs have continued to funnel capital to area VCs because of the region’s track record of achievement, which includes 17 of the 22 U. S. companies to ever receive a private value of $10 billion or even more. ”
Image Credits: Joanna Buniak / Sophie Alcorn (opens in a new window)
So while VCs will likely return to the old ways of network and funding post-pandemic, we’ll see a hybrid of online and in-person meetings because there are so many benefits to in-person networking and exchanging ideas.
