A wave of tech startup destroys your life? 3
There were some elements in Vancouver’s change, that the city has become a technology hub.
– Other tech hubs on the west coast of the U.S became too expensive for starting up new businesses.
– There’re rich IT human resources in Vancouver since there’s a world-class university, University of British Columbia (UBC) has ranked 26 (computer science).
– Originally, Vancouver’s economy wasn’t strong, as there weren’t many large corporations. Therefore, I assume the Canadian government has given work permits to IT creators relatively easily in order to develop the city in a different way.
– As a large number of IT people have chosen the city to work or start up their new tech businesses, large IT corporations have also paid their attention to the city and branched out there.
etc…
Obviously, this phenomenon has bolstered Vancouver’s economy, but the thing is that IT firms are usually highly profitable, which enable them to be able to afford expensive office rents.
As IT firms’ acceptance of the rise in the office rents spreads, real estate prices have kept going up in Vancouver.
Now, a lot of people have no choice but to move out to suburbs. So, the IT (startup) boom has mostly affected local citizens in a negative manner.
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The appearance of Donald Trump
Furthermore, this consequence might become more severe since another type of movement of IT developers happens.
Perhaps, you still remember that Canada’s immigration site went down when Donald Trump was winning the Presidental election in 2016.
Since he’s prioritized creating employment opportunities only for American people, the U.S government has made the examination of “H-1B” stricter.
This has caused a lot of controversies.
“H-1B: A visa in the United States under the Immigration and Nationality Act, section 101(a)(15)(H) which allows U.S. employers to employ foreign workers in specialty occupations. If a foreign worker in H-1B status quits or is dismissed from the sponsoring employer, the worker must either apply for and be granted a change of status, find another employer (subject to application for adjustment of status and/or change of visa), or leave the United States.”
Wikipedia
According to a Bloomberg’s report, skilled workers from nations like India are turning to Canada instead of applying for the visa again in the U.S, as it’s expected to take long or to be difficult to get approved due to the strictness.
In 2017, it increased its intake of skilled workers by about 7.5 %, and the Canadian government announced a new program in order to approve visas for these workers in two weeks, compared to the U.S where it takes 6 to 7 months.
Canada is an alternative plan
Kenichi Omae, a Japanese management consultant, reported that the founder of
The company had sent 10,000 Indian employees to the U.S back then, but all of them would have to go back to India. The founder was at a loss what to do.
Medias reported a likelihood that
This alternative plan has become common among large IT corporations based in the U.S. No wonder, Vancouver has got a lot of attention, as the city is close to Seattle.
So, in terms of entrepreneurship, the city has become vibrant. However, for local people who haven’t got involved in IT fields, this would be very harsh with regard to the cost of living.
Kenichi Omae, a Japanese management consultant, reported that the founder of
The company had sent 10,000 Indian employees to the U.S back then, but all of them would have to go back to India. The founder was at a loss what to do.
Photo: The Economic Times
Medias reported a likelihood that
This alternative plan has become common among large IT corporations based in the U.S. No wonder, Vancouver has got a lot of attention, as the city is close to Seattle.
So, in terms of entrepreneurship, the city has become vibrant. However, for local people who haven’t got involved in IT fields, this would be very harsh with regard to the cost of living…..
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