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China and America want the AI Prize Title: Who … Hypemarks was a Los Angeles social sharing startup that after about a year of failing to gain traction and turn a profit, changed course, moved to San Francisco and became Tint, an embeddable social-feed service.The story of pivoting direction is common in the U.S. start-up world. But what’s different about this story are the players involved. One of the company’s four employees, its software engineer, is not an American citizen. He works legally in the country on a student visa. But if he were to lose his job, the developer would face the prospect of being forced to return to his native India, relinquishing his toehold in the States.While the fate of startups like Tint are yet to be determined, the status of their foreign-born nationals could be solidified should the third iteration of the new Startup Act become law. The proposed bill would plug a brain drain causing the U.S. to fail to retain some of the best minds its universities educate.Startup Act Update No Sure ThingThe road from proposal to legislature is full of potholes. Introduced by Senator Jerry Moran (R-Kan.) a few weeks ago, this is the third attempt of the bill, which Senator John Kerry (D-Mass.) introduced in 2010. That version failed to gain traction, as did a 2011 proposal that didn’t get far either.To be eligible to receive an extended visa under this bill, a candidate would have to be an H-1B non-immigrant worker or F-1 student visa holder, already raising at least $100,000 in funding at their startup, and must employ at least two people (should they be the proprietor or principal). With those visas, workers would then be able to stay in the U.S. for up to three years. Also available is a new five-year visa for students studying STEM fields (science, technology, engineering, math), allowing an easier road to legal residency.Beyond visas, the bill’s second major incentive for startups is a series of tax breaks, specifically a research and development credit for companies less than five years old and with less than $5 million in annual receipts — a move geared toward helping companies expand and hire.Weighing InStartups are estimated to face more than a 90% failure rate. While this bill isn’t a cure all for the challenges of building a new digital business, many in the community believe it could help spur innovation and open the door to an estimated 75,000 new entrepreneurs.The immigration debate has always been polarizing, making it easy to forget that this country was birthed by foreigners searching for a better life. Howard Marks, the co-founder of game giant Activision, and the current co-chair at the Los Angeles accelerator Start Engine, was born in Santa Monica to European parents, grew up in France and came back to the states for college. He retains both French and British citizenship. Marks thinks the bill would spur innovation and growth and encourage the retention of a very talented crop of foreign-born entrepreneurs.Howard Marks“Our country is founded on entrepreneurs, especially those who come from abroad and are looking to live the American dream,” Marks says. “We need it badly. To remain competitive, we need more engineers and scientists. We are not getting enough from our own citizens.”Jeff Solomon, the co-founder and executive director of Amplify.la, a Venice, California-based accelerator, agrees that the bill could be a shot in the arm for businesses -as long as the tax breaks and visas aren’t tied up behind too much red tape. “Absolutely it would make an impact,” Solomon says.While neither Marks or Solomon think the bill will significantly curb the sharp failure rate of startups, that’s not really the issue. “Most entrepreneurs go through failed startups before they succeed,” Marks noted. “I do not think we need to fix that. Most entrepreneurs who are tenacious and resourceful will succeed at some point.”Not everyone is a fan of giving benefits to foreigners, of course. Aaron Abram, the co-founder and vice president of business development for the mobile research service OSURV, says we should be focusing on giving benefits to our citizens. “Shouldn’t the focus be on giving incentives to people already in America,” Abram asks. “There are plenty of talented Americans who shift away from entrepreneurship because the current government is punishing them with high taxes.”Tint’s StoryFor Tint, founder and chief executive Tim Sae Koo says his focus is building a strong team. And with only four members, including himself, keeping and growing that team is vital – which makes any residency issues a big potential problem. If Sae Koo was confident foreign nationals could attain visas with this new program, he says, he’d have more confidence to hire them and expand.Tim Sae Koo“That has been a big struggle for us and a constant headache,” Sae Koo explains. “If I want to hire them onto our team, it feels like a dark cloud looms over my head because I think of all the time, paperwork and troubles I will have to go through to sponsor their visa.”Sae Koo says his engineer is really excited about the bill. But the situation is far from finalized. And should the engineer lose his ability to legally work in the U.S., he could take the route of many entrepreneurs turned away from this country and end up operating a business in his home country.We have to find a way to legally keep these talented people, Sae Koo says. Because at the end of the day, we in the U.S. are missing out on innovation and growth without them.“I just shake my head and think of the lost opportunity the U.S. could have benefited from them, like more jobs and growth in the economy,” he says.Lead image courtesy of Shutterstock. How OKR’s Completely Transformed Our Culture What Nobody Teaches You About Getting Your Star… Related Posts Tags:#business#Entrepreneurs#Government#international#startups adam popescu How to Get Started in China and Have Success
The deputy chief proctor of the South Campus of the Banaras Hindu University was allegedly made to resign and faces serious criminal charges after she removed an RSS flag from the varsity playground.The varsity on Thursday said it would request the RSS, whose local office-bearer filed a police complaint, to withdraw the FIR, and would also approach the district administration to settle the matter.“We will deal with it because our employee is at stake. We will protect her 100%,” Ramadevi Nimmanapalli, professor in-charge of the BHU South Campus, told The Hindu. She, however, noted that it was an internal matter of the varsity.The controversy took place on Tuesday morning when Kiran Damle, the deputy chief proctor of the Rajiv Gandhi South Campus, located in Mirzapur, uprooted the RSS flag from the grounds while a ‘shakha’ was on.Following protests by some students and local RSS leaders, who claimed she insulted the flag, Ms. Damle resigned from her post, which was accepted.However, the matter did not end there. On a complaint from the Mirzapur district in-charge of the RSS, Chandra Mohan, the FIR was registered against Ms. Damle at the Kotwali Dehat police station.She was charged under four clauses of the Indian Penal Code, including promoting enmity between different groups on grounds of religion, race, place of birth, residence, language, etc and deliberate and malicious acts, intended to outrage religious feelings of any class by insulting its religion or religious beliefs.DenialMs. Damle said she resigned as the “students wanted” her to do so. She claimed she was not aware that the saffron flag she uprooted was linked to the RSS. “If I knew, why would I do that [remove the flag],” she said.Early on Tuesday, she came across the flag in one corner of the playground, following which she inquired about it from the students, who were engaged in their drill and exercise. However, despite asking them and waving at them, no claimant came forward. She then removed it from the site and put it in her office “just to be on the safe side” as a precautionary measure given the sensitive climate over the Ayodhya verdict, she said.Ms. Damle claimed that she had directed her attendant to hand over the flag if anyone came and asked for it.Superintendent of Police Mirzapur Dharm Veer Singh said that during investigation, Ms. Damle admitted that she committed the act due to a “misconception.”Mr. Singh said the “sanghathan” (RSS) has been holding “shakhas” programme on the grounds every morning since the last seven years. The matter was being probed.Ms. Nimmanapalli said Ms. Damle was willing to issue a written apology to the RSS as she “did not do it intentionally.” “She did not know what importance the flag held for these persons. But she accepts that she made a mistake”.Ms. Nimmanapalli clarified that the varsity did not lodge a complaint against Ms. Damle but it was done externally. “It is not in my hand,” she said.Congress leader’s memorandumThe matter has taken a political turn with Congress’s UP vice-president and former MLA Lalitesh Pati Tripathi on Wednesday submitting a memorandum to the varsity condemning the criminal action taken against Ms. Damle.Taking to Twitter, Mr. Tripathi said Ms. Damle had expressed objection to the RSS’s attempts at “saffronising” the campus by holding “shakhas” on it.Ms. Nimmanapalli, however, said she had no objection to students participating in “shakhas” as long as peace on campus was not disturbed. The “shakhas” were making the students “disciplined,” no matter what their beliefs may be, she claimed.Chandra Mohan, zila karyavah, Mirzapur RSS, refused to believe Ms. Damle’s claim that she did not know the flag belonged to the RSS. “Even so, if a person comes across a saffron flag, he or she will bow before it, if they belong to the Hindu society, won’t they?”, he said. “Shakhas” were being held at the grounds for the past seven years and “not just the students, even professors participate in them and promote our work,” he said. Asked if the RSS would withdraw the police complaint, Mr. Mohan said he would follow instructions from his higher-ups. “When the matter comes up, we shall see it. It is not my personal matter. It is about our organisation. She has insulted the ‘bhagwa dwaj’ [saffron flag] of our organisation,” he added.
Serena Williams is back on the court at Wimbledon, but there’s a big milestone her daughter just had that caused the first-time mom to sob.“She took her first steps… I was training and missed it. I cried,” Williams tweeted Saturday, July 7 of Alexis Olympia Ohanian Jr.The post was a simple one but it drew lots of responses from fans, including other moms who were in the same boat at the 23-time Grand Slam winner.“It doesn’t count until mommy sees it. Nothing counts until mommy sees it.”“She is practicing so you can see the real ones. ❤,” fellow celebrity mom Chrissy Teigen tweeted.“You didn’t miss it, mommy. You facilitated it. Your child still lives right there. Make those happy tears & I mean it.”“Ah, Serena. I’m with you there. I’m in Russia at a World Cup. I watched mine take her first steps on a video 😓. She’ll be proud of you when she grows up (I have to keep telling myself).”“I missed a bunch of firsts while I was at work. I hear ya, mama. It’s not easy. But our girls see us out there grinding + living our dreams and that’s got to mean something. Good luck in London — my daughter and I are both rooting for you! ❤”“I took my 1st child all the way to Israel on a trade mission. During a meeting, I heard cheering out in the waiting area … Yup, staff and husband and assorted strangers saw her 1st steps. It all turns out okay. #workingmomsrock.”This isn’t the first time Williams has been candid about tearful mommy moments. When it came time to start shedding the baby weight, Williams realized she was having a difficult time despite working out and following a vegan-only diet.“I feel like everyone says, ‘You’re so thin when you breastfeed,’” she told reporters at a Sunday press conference. “What I’ve learned through the experience — everybody is different, every person is different, every physical body is different. For my body, it didn’t work, no matter how much I worked out, no matter how much I did, it didn’t work for me.”So, Williams sat down, spoke to Olympia and got emotional.“I literally sat Olympia in my arms, I talked to her, we prayed about it,” she said. “I told her, ‘Look, I’m going to stop. Mommy has to do this.’ I cried a little bit, not as much as I thought I was. She was fine.”
More than six months after Reed Elsevier announced it was putting Reed Business Information on the block, BusinessWeek parent McGraw-Hill has emerged as one of more than 20 companies that are interested in purchasing the London-based media company’s b-to-b publishing arm.UBS, the bank that’s organizing the sale, sent information to prospective bidders last week, according to a report in the London Telegraph. Private equity groups Cinven, Permira, Providence Equity Partners and Bain also were reported as interested parties. First round bids are said to be due by mid-August.In an e-mail to FOLIO:, a McGraw-Hill spokesperson declined to comment. McGraw-Hill, owner of credit rating firm Standard & Poors, publishes several construction and aviation magazines, including Aviation Week and several titles under its McGraw-Hill Construction division. A number of its titles overlap with RBI titles, which also publishes Variety.It was not immediately clear if McGraw-Hill is interested in purchasing individual titles or RBI as a whole. Reed Elsevier last month, in an effort to make sure RBI is sold in one piece, put together a group of banks to lend nearly $1.5 billion to the eventual buyer. Early estimates put an RBI sale at about $2 billion.
Tags 10 Phones Share your voice Comments Rumors Sprint T-Mobile T-Mobile and Sprint’s merger may have hit another government snag. Josh Miller/CNET T-Mobile and Sprint have hit another government roadblock in their quest to merge. A group of 10 state attorneys general, led by New York Attorney General Letitia James and California Attorney General Xavier Becerra, filed a multistate lawsuit Monday to stop the pending $26 billion deal. The antitrust lawsuit claims that the merger would “deprive consumers of the benefits of competition and drive up prices for cellphone services.” The suit was filed in New York federal court in coordination with Colorado, the District of Columbia, Maryland, Michigan, Mississippi, Connecticut, Virginia, and Wisconsin, the New York attorney general’s office announced. “The T-Mobile and Sprint merger would not only cause irreparable harm to mobile subscribers nationwide by cutting access to affordable, reliable wireless service for millions of Americans, but would particularly affect lower-income and minority communities here in New York and in urban areas across the country,” New York Attorney General Letitia James said in a statement. “That’s why we are going to court to stop this merger and protect our consumers, because this is exactly the sort of consumer-harming, job-killing megamerger our antitrust laws were designed to prevent.” T-Mobile and Sprint did not immediately respond to a CNET request for comment. In a press conference, James said that by opposing the deal the attorneys general are “standing up for consumers, standing up for economic development and standing up innovation and standing up for lower prices.” James did, however, say that her office has reached out to the Department of Justice, T-Mobile and Sprint and that “negotiations are ongoing.” Reuters first reported that the 10 attorneys general were looking to block the deal. Since being announced last year, T-Mobile’s push to merge with Sprint has been met with strong government pushback over concerns it would harm competition. In February, nine Senate Democrats signed a letter addressed to Federal Communications Commission chairman Ajit Pai urging the agency to block the deal, writing that the merger is “likely to raise prices for consumers, harm workers, stifle competition, exacerbate the digital divide, and undermine innovation.” Several presidential candidates signed off on the letter, including Sens. Amy Klobuchar of Minnesota, Kirsten Gillibrand of New York, Elizabeth Warren of Massachusetts, Bernie Sanders of Vermont, and Cory Booker of New Jersey. House Democrats, led by freshman congresswoman Rashida Tlaib of Michigan, followed suit shortly thereafter by sending a similar letter to Pai and Department of Justice head Makan Delrahim outlining their opposition to the deal, stressing how it would “disproportionately hurt lower-income people and communities of color.” That letter was signed by 36 other representatives. In May Pai and the FCC gave a thumbs up to the deal with the chairman touting the deal’s potential improvements for 5G network deployment and increasing coverage in rural America. The DOJ has yet to rule, though the staff of the department has recommended that the agency sue to stop the deal. James said the litigation will continue even if the DOJ approves the merger. “DOJ and FCC have broad standards,” James told reporters. “We are viewing this primarily through the lens of competition, prices, innovation… as a result of our review, based upon the law, we’ve come to a determination that it is a violation of antitrust laws.” T-Mobile and Sprint have a deadline of July 29 to complete their merger. Update, 10 a.m. PT: Adds New York attorney general comment.Update, 10:26 a.m. PT: The New York attorney general’s office clarified that Connecticut, not Nevada, had participated in the lawsuit. Update, 1:02 p.m. PT: Adds additional comment from the New York attorney general.