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The Hidden Middlemen Gaming the US Work Visa Lottery
Bloomberg Originals· 2025-07-21 08:00
H1B Visa Program Overview - H1B visa is a path for foreign workers to work in the United States [1] - The H1B program was designed to attract skilled workers to fill high-skill jobs in the US where domestic talent is lacking [6] - The program is in dire need of reform [26] Challenges and Criticisms - The system is rife with opportunities for fraud and exploitation [4] - The lottery system does not make sense [4] - Some companies use the program as a massive labor arbitrage scheme to increase profits [5] - Staffing companies game the system by submitting the same person's name multiple times in the lottery [11][12] - Outsourcing companies bring in lower-salary workers, potentially undercutting American labor [13] - L1 visas are sometimes used inappropriately for non-managerial roles [19] Impact and Perspectives - Skilled immigrant workers bring money to the US government [3] - Immigrants make up a large portion of Silicon Valley's workforce [27] - Some economists estimate that millions more engineers and developers will be needed in the US [28] - The H1B visa is owned by the employer, giving them significant control over the employee [9][10] - Approximately 80% of H1B petitions are held by Indian workers [7] - In 2023, over 450,000 people registered for the lottery for only 85,000 slots [9]
The Curse of Rainbow Mountain for One Indigenous Community
Bloomberg Originals· 2025-07-18 16:00
Turismo llega alegre, vive una experiencia, se va al extranjero, cuenta increíble montada en siete colores, pero no sabe de que los comuneros el interno está en graves problemas y está triste. Hay muertes, hay este violencia y eso es una maldición para mí en la montaña de siete colores. Mi padre Flavio Ilinco Yupainki.Mi padre era una persona muy visionario y ambicioso. Era una persona de que no no no tenemos que buscar la manera. Ahita muchos maravillasos la runas colores, tenemos paisajes, tenemos másadas ...
How China's Factories Are Being Rocked by Trump
Bloomberg Originals· 2025-07-18 08:00
Navigating high-risk environments when you can’t see what’s ahead is no mean feat. But it’s the kind of uncertainty Donald Trump’s trade actions have forced on China’s factory workers. President Trump ramping up trade tensions again.The word “tariff” — music to my ears. So we’re in the realm of just endless tit-for-tat. This just kind of indicates how much of a moving target this has really become.At stake is hundreds of billions of dollars in bilateral trade and access to the world’s single-largest consume ...
Rainbow Mountain: Death in Peru’s TikTok Hotspot
Bloomberg Originals· 2025-07-17 16:01
Have you ever heard of the Rainbow Mountain of Peru. Chances are you've seen beautiful photos like this, like this, or like this on social media. We did see it.The Rainbow Mountain has become one of the world's top tourism destinations, becoming a viral sensation only in the past decade. At a time when Instagram filled a craze for picture perfect sites, almost overnight, millions of dollars poured into a poor corner of Peru, where the local indigenous community reinvented themselves as the administrators of ...
Why Investors See Renting as Creating Opportunity
Bloomberg Originals· 2025-07-17 14:00
Rental Market Perspective - The company focuses on providing rental housing options, particularly for those who may not be able to afford homeownership [1] - The company believes renting offers access to desirable communities and good school districts [2] - The company states that many of their 90,000 houses residents may never own a home due to factors like FICO scores and student loan debt [2] Social Impact - The company views its rental services as creating more access to better communities for renters [2] - The company expresses concern about the treatment of renters [1]
The Killing That Tore Peru's Viral Hotspot Apart
Bloomberg Originals· 2025-07-17 13:00
Industry Context & Conflict Drivers - The Rainbow Mountain in Peru, initially a tourism blessing, became a source of conflict due to lack of state administration and transparency in revenue distribution [6][9] - Mining companies' interest in the mineral-rich Andes region, including areas under the Rainbow Mountain, exacerbated tensions with indigenous communities [3][4] - Indigenous communities often struggle with mining companies, facing violence during protests, highlighting the state's pro-extraction stance [4] - The revocation of mining rights for Rainbow Mountain led to the expectation that tourism revenue would benefit the local community, but disputes over control of ticket revenues arose [5][6] Community Dynamics & Governance - Power struggles between communities (Chillihuani and Llacto) over ticket revenue control intensified after the initial revenue split deal [7][8] - Cecilio, as president of Chillihuani, controlled ticket revenue and neglected the Llacto sector, breeding resentment [8] - The absence of state oversight and regulation of Rainbow Mountain contributed to escalating tensions [9] - Cecilio's stance against state regulation and taxation of the indigenous community further fueled the conflict [10] Tragedy & Aftermath - Tensions culminated in a fatal confrontation, resulting in the death of Flavio, a community leader, highlighting the potential for violence [11][12] - Flavio's death was allegedly caused by a mob of approximately 80 people from the Chillihuani community [12] - The Llacto community honored Flavio with a dance reinterpreting his death, revealing the community's pain and inability to openly discuss the events [13] - Approximately 20 members of the Chillihuani community were placed in pre-trial detention following Flavio's killing, with the possibility that the truth may never be fully known [14]
The Killing That Tore Peru's Viral Hotspot Apart
Bloomberg Originals· 2025-07-16 18:21
The Rainbow Mountain is one of Peru's most iconic tourism sites. Rainbow Mountain all to yourself. It is made for going viral.It's beautiful though. We did see it suddenly because of global tourism. It became a symbol of violence.Now somebody has been killed. for audio. Happy hour.Money can do a lot of good. It can really transform people's lives, but it can also hurt them. ...
Why Investing in Affordable Housing Poses 'Lower Risk'
Bloomberg Originals· 2025-07-16 15:11
Affordable Housing Market Overview - Affordable housing operates on a revenue and expense basis, similar to market-rate housing [1] - Government intervention, such as property tax breaks, can help make housing affordable [2] - Significant need and a scarcity of capital exist in the affordable housing space [3] Investment Perspective - Affordable and workforce housing presents an attractive investment opportunity [2] - Creating and preserving affordable housing leads to tenant stability and reduced risk [3] - Partnerships and investments in affordable housing can yield great returns [3]
Why More Americans Are Choosing to Rent a Home
Bloomberg Originals· 2025-07-15 18:00
Today, the number of renter households in the US is growing three times faster than homeowner households, signaling a major shift in American homeownership. This trend traces back to the 2008 housing crash when construction slowed dramatically and the US never caught up. Restrictive zoning laws have limited where and what kinds of housing can be built.The cost of raw materials has gone up, coupled with a labor shortage. And in the last 5 years, mortgage rates have more than doubled due to inflation. This ha ...
Why Investment Banking Was Once 'No Place for Women'
Bloomberg Originals· 2025-07-11 15:09
Gender Inequality in Investment Banking - An investment bank president expressed the view that "there's no place for women here" due to family responsibilities and perceived workload issues [1] - The president cited women in their 30s trying to have a family as a reason for their unsuitability, suggesting the workload is too much [2] - The industry perceives women as less committed because men typically do not take leave when starting a new family [2] Impact on Workplace Dynamics - Unequal leave-taking affects not only the men and their children but also the women in the workplace, including spouses [3] - The lack of male participation in family leave negatively impacts the dynamic for women in the workplace [3]