> H1Bs starting companies in their home countries making the US look like an also-ran in the tech scene
Everyone says this but no one does it. Startups abroad can't compete with US startups and it's not a talent problem...
The US has the right combination of capital, willing investors, regulation (just the right amount; more than developing countries, less than most western countries), etc... There's no practical reason India couldn't compete yet their culture seems unable to produce startups on par with Google, Facebook, etc...