Fuggit Capital

Full-time pod shop bro, part-time endurance athlete. RTs ≠ Endorsements.

[Palmer Luckey @PalmerLuckey]

Immigration policy must be driven by the present, not the past, and business leaders are too terrified of the left AND the right to acknowledge this.

Recent H1B discourse revolves around a longstanding immigration sleight-of-hand. H1B proponents point to exceptional people who came here decades ago as if they represent the current state of the program in the same way that advocates for low-skill/illegal immigration point to very favorable immigrant crime/welfare/education/etc statistics that do, in truth, have them beating native-born Americans on many fronts.

It is all a sham. The world that created those statistics, people, and businesses no longer exists. Brilliant but desperate Vietnamese fathers who fled communism have nothing in common with young men from Honduras, and the crime rates/economic acccomplishments/integration of the former should not be used to justify mass migration of the latter.

Nor should the accomplishments of people who managed to get an H1B visa in the 90s (when the program was capped to just 65,000 visas) be used to justify staffing agencies and tech companies using the program to replace American jobs for less money. The obvious abuse going on is politically suicidal and something that even the most ardent supporters of the visa should want to crack down on, no immigration program can possibly survive the obvious and widely known reality of what is going on. I am a longtime outspoken advocate for stealing the best people from other countries to make our own better, runaway abuse of existing programs robs the government of the worker trust required to do so.

Lots of people in the tech space know this. Even the dumb people are smart enough to see it. Nobody actually believes these are all incredible people with unique talents performing jobs no American can. Everyone knows the guy in Cubicle Bay 7 doing mediocre but functional web design for half the salary of his American peers is no savant and doesn't meet the statutory requirements for his H-1B visa.

Unfortunately, most people with power or profile are terrified that any public statement or acknowledgement will get them attacked by the right (You guys have been screwing over American workers for years with visa abuse, you damn hypocrite!) or the left (You are racist, sexist, misogynist, and sucking up to this fascist administration!). Or, more likely, both. I know too many tech execs in particular who feel trapped, like the only winning move is to stay silent.

JD is blowing the whole thing wide open by putting facts and stats front and center that nobody wants to engage with. Critics will talk about anything and everything else but these damning facts and this obvious truth, that H1B visas serve neither their original purpose, legal purpose, invented purpose, or the American people.

[Fuggit Capital @fuggitcapital]

@BarDarlingLocal The one in Dana Point looks like it’s needed an update a decade ago. Dirty carpet and old/dated rooms.

[Fuggit Capital @fuggitcapital]

@RealJimChanos @AndrewhFX Tomorrow AM is one of SPCX lockups…

[Dirty Texas Hedge @HedgeDirty]

The best way to phrase it is that college used to be a ticket into the upper-middle class and now it's a tax you have to pay to stay in it

[Fuggit Capital @fuggitcapital]

@CorneliaLake Well he did believe he was a reincarnated Nebuchadnezzar

[Palmer Luckey @PalmerLuckey]

Investors like Paul want the immigration debate to be strictly polar because it is the only way their traitorous ideas might seem reasonable.

They paint one side as racist, backwards, economically illiterate absolutists and the other as enlightened, growth-minded cosmopolitian realists. Support for laws that protect American citizens can be dismissed as uneducated, anyone who hires immigrants or foreigners in any capacity a hypocrite.

American law should, and does, advantage American citizens. We should not have to compete on an even playing field with billions of people who almost universally don't share our values or respect our institutions, even if they are "the most qualified" or willing to work double the hours for the same wages. The men running Operation Paperclip did not think Americans should have to compete with the entire Third World, they understood that a carefully controlled amount of highly-skilled expert immigration is net good for America even when allegience is in question.

It is worth noting that even on a purely economic level, ignoring all burdens of loyalty or allegiance to your countrymen and treating America as nothing but an economic activity zone, it still doesn't make sense to say without qualification that foreigners should get any job where they are more qualified than their American counterpart.

As just one easy example out of dozens, about 20% of immigrants return home after less than five years, taking all their savings and vested shares with them. Another 20% will leave within ten years, doing the same. All the while, they will wire, on average, ~15% of their wages out of the United States economy every month. Some occupations and origins average 30%! The idea that this should be completely ignored with regard to employment and immigration policy is rampant among the same people who tell you with a straight face that limits on immigrants will destroy the American economy, that the dumb rednecks need to be saved.

I lean very libertarian and have strongly supported immigration to America for many years with countless public examples. That doesn't put me on the same side as the men who want to sell out America, and no amount of long-past accomplishment obliges any of us to listen to their lectures from the other side of the Atlantic.

[Fuggit Capital @fuggitcapital]

@dylan522p @TheFrenchWS Chicago O’Hare would like a word

[Fuggit Capital @fuggitcapital]

@TMTLongShort Not sure how anyone can listen to that guy after he said a couple of drinks trigger a 3 day wellness and productivity slump for him. He’s kind of a bitch.

[Fuggit Capital @fuggitcapital]

@liberty_mike1 @ChuongIsHere I just doubt that many of these cops are pulling investment banking hours

[Fuggit Capital @fuggitcapital]

@liberty_mike1 @ChuongIsHere Any chance they lie about their hours and they’re all in on it?

[Fuggit Capital @fuggitcapital]

@FerDaBoys92 @ConEdison FREE PRINCE PHILLIPE

[Fuggit Capital @fuggitcapital]

@normie_investor @FerDaBoys92 @ConEdison Wow no surprise from those criminals over at ConEd

[Fuggit Capital @fuggitcapital]

@PaulSkallas Opium addiction in China in the 1800s?

[Fuggit Capital @fuggitcapital]

@TSwizzle8271 @sackchestedtwat @AllenDale235818 @LeadingReport @grok Given your profile bio I assume you’re trolling now bc nobody is the stupid

[Fuggit Capital @fuggitcapital]

@TSwizzle8271 @sackchestedtwat @AllenDale235818 @LeadingReport @grok Does Medicaid provide free healthcare to low income Americans?

[Fuggit Capital @fuggitcapital]

Healthcare is free for poor people in America. My 50% tax rate pays for it. In your demented world view we should let people do drugs on the streets, claim all of our parks and sidewalks, and cause danger to the law abiding citizens. Funding has gone up a ton per homeless person and the problem is worse. Maybe those in charge and the NGOs want the problem to persist bc it’s a big source of funds for corruption.

[Fuggit Capital @fuggitcapital]

@TSwizzle8271 @sackchestedtwat @AllenDale235818 @LeadingReport You are ignoring my question. Is it worse to keep them on the street doing drugs or forced sobriety (in a humane way)? Europe is more liberal on drug use and doesn’t criminalize behavior but they also don’t just let people on the street doing all these drugs day after day

[Fuggit Capital @fuggitcapital]

@TSwizzle8271 @sackchestedtwat @AllenDale235818 @LeadingReport An injury you say? So the humane thing to do is leave them on the streets and sell them heroin and fentanyl? Maybe these people shouldn’t be allowed to stay on the streets and do drugs and be put into forced rehab or is that worse than letting them die on the streets?

[Fuggit Capital @fuggitcapital]

@sackchestedtwat @AllenDale235818 @LeadingReport The same homeless who do drugs on the street and refuse to live in gov housing because they can’t do drugs in the shelters?

[Fuggit Capital @fuggitcapital]

@akshaychugh_xyz Isn’t this a giant L for Whoop as people won’t want to pay the absurdly high subscription cost every month?