Billionaire VC Mike Moritz slams new H-1B visa fee as ‘brutish extortion scheme’
In Brief The Trump administration last Friday announced a new $100,000 annual levy on H-1B visas, which allow 85,000 skilled foreign workers to enter the U.S. each year. The fee applies to companies hiring these workers, primarily in tech. Veteran venture capitalist Michael Moritz isn’t having it. In a new, scathing Financial Times op-ed, the former Sequoia Capital honcho compares the White House to Tony Soprano’s pork store, calling the move another “brutish extortion scheme.” Moritz argues