Can I hire an engineer whose green card is being sponsored by another company?

Welcome to Extra Crunch Friday

Although older adults are one of the fastest-growing demographics, they’re quite underserved when it comes to consumer tech.

The global population of people older than 65 will reach 1.5 billion by 2050, and members of this cohort — who are leading longer, active lives — have money to spend.

Still, most startups persist in releasing products aimed at serving younger users, says Lawrence Kosick, co-founder of GetSetUp, an edtech company that targets 50+ learners.

“If you can provide a valuable, scalable service for the older adult market, there’s a lot of opportunity to drive growth through partnerships.”

Image Credits: Sukhinder Singh Cassidy

On Thursday, August 19, Managing Editor Danny Crichton will interview Sukhinder Singh Cassidy, author of “Choose Possibility,” on Twitter Spaces at 2 p.m. PDT/5 p.m. EDT/9 p.m. UTC.

Singh Cassidy, founder of premium talent marketplace theBoardlist, will discuss making the leap into entrepreneurship after leaving Google, her time as CEO-in-Residence at venture capital firm Accel Partners and the framework she’s developed for taking career risks.

Thanks very much for reading Extra Crunch this week! Have a great weekend.

Walter Thompson
Senior Editor, TechCrunch
@yourprotagonist

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Dear Sophie: Can I hire an engineer whose green card is being sponsored by another company?

Dear Sophie,

I want to extend an offer to an engineer who has been working in the U.S. on an H-1B for almost five years.

Her current employer is sponsoring her for an EB-2 green card, and our startup wants to hire her as a senior engineer.

What happens to her green card process? Can we take it over?

— Recruiting in Richmond

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TechCrunch Disrupt 2021: September 21-23

Sponsored by TechCrunch

3 virtual days of non-stop online programming for founders and investors

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3 lies VCs tell ourselves about startup valuations

In a candid guest post, Scott Lenet, president of Touchdown Ventures, writes about the cognitive dissonance currently plaguing venture capital.

Yes, there’s an incredible amount of competition for deals, but there’s also a path to bringing soaring startup valuations back to earth.

For example, early investors have an inherent conflict of interest with later participants and many VCs are thirsty “logo hunters” who just want bragging rights.

At some point, “venture capitalists need to stop engaging in self-delusion about why a valuation that is too high might be OK,” writes Lenet.

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‘The tortoise and the hare’ story is playing out right now in VC

Aesop’s fable about the determined tortoise who defeated an arrogant hare has many interpretations, e.g., the value of perseverance, the virtue of taking on bullies, how an outsized ego can undermine natural talent.

In the case of venture capital, the allegory is relevant because a slow, steady and more personal approach generates better outcomes, says Marc Schröder, managing partner of MGV.

“We simply must take the time to get to know founders.”

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What’s driving the global surge in retail media spending?

As the pandemic changed consumer behavior and regulations began to reshape digital marketing tools, advertisers are turning to retail media.

Using the reams of data collected at the individual and aggregate level, retail media produce high-margin revenue streams. “And like most things, there is a bad, a good and a much better way of doing things,” advises Cynthia Luo, head of marketing at e-commerce marketing stack Epsilo.

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New York City’s enterprise tech startups could be heading for a superheated exit wave

“We lied when we said that The Exchange was done covering 2021 venture capital performance,” Anna Heim and Alex Wilhelm admit.

Yesterday, they reviewed a detailed report from NYC-based VC group Work-Bench on the city’s enterprise tech startups.

“New York City’s enterprise footprint is now large enough that it must be considered a leading market for the startup varietal,” Anna and Alex conclude, “making its results a bellwether to some degree.”

“And if New York City is laying the groundwork for a huge wave of unicorn exits in the coming four to eight quarters, we should expect to see something similar in other enterprise markets around the world.”

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Disaster recovery can be an effective way to ease into the cloud

Given the rapid pace of digital transformation, nearly every business will eventually migrate some — or most — aspects of their operations to the cloud.

Before making that wholesale shift to digital, companies can start getting comfortable by using disaster recovery as a service (DRaaS). Even a partially managed DRaaS can make an organization more resilient and lighten the load for its IT team.

Plus, it’s also a savvy way for tech leaders to get shot-callers inside their companies to climb aboard the cloud bandwagon.

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Regulations can define the best places to build and invest

“The decisions of government, the broader legal system and its combined level of scrutiny toward a particular subject” can affect market timing and the durability of an idea, Noorjit Sidhu, an early-stage investor at Plug & Play Ventures, writes in a guest column.

There are three areas currently facing regulatory scrutiny that have the potential to “provide outsized returns,” Sidhu writes: taxes, telemedicine and climate.

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VCs unfazed by Chinese regulatory shakeups (so far)

“China’s technology scene has been in the news for all the wrong reasons in recent months,” Anna Heim and Alex Wilhelm write about the Chinese government’s crackdown on a host of technology companies.

“The result of the government fusillade against some of the best-known companies in China was falling share prices,” they write.

But has it affected the venture capital market? SoftBank this week said it would pause investments in China, but the numbers through Q2 indicate China is steadier than Alex and Anna expected.

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Perform a quality of earnings analysis to make the most of M&A

If you’re a startup founder, odds are, at some point, you’ll raise a Series A (and B and C and D, hopefully), perform a strategic acquisition, and maybe even sell your company.

When those things occur, you’ll need to know how to do a quality of earnings (QofE) to maximize value, Pierre-Alexandre Heurtebize, investment and M&A director at HoriZen Capital, writes in a guest column.

He walks through a framework for thinking and organizing a QofE for “every M&A and private equity transition you may be part of.”

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VCs are betting big on Kubernetes: Here are 5 reasons why

“What was once solely an internal project at Google has since been open-sourced and has become one of the most talked about technologies in software development and operations,” Ben Ofiri, the co-founder and CEO of the Kubernetes troubleshooting platform Komodor, writes of Kubernetes, which he calls “the new Linux.”

“This technology isn’t going anywhere, so any platform or tooling that helps make it more secure, simple to use and easy to troubleshoot will be well appreciated by the software development community.”

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