Qualcomm's remarkable success story is entering a new chapter, and The New York Times has taken notice. Last week, the Times carried a lengthy account suggesting the San Diego wireless
technology firm just might be on track to supplant mighty Intel as the king of computer chip makers. The article noted that Qualcomm's new generation of chips are so much faster and cheaper than Intel's that the company could dominate the massive, emerging market for MIDs – mobile Internet devices – that offer some or all of the attributes of both cell phones and personal computers.
Qualcomm, which last year became the world's largest supplier of cell phone chips, is in a prime position. This is wonderful news for San Diego, which has benefited immensely from the company's explosive growth over the past 23 years.
There is one worry on the horizon, however. As Qualcomm Chief Executive Paul Jacobs pointed out in a recent interview with the Union-Tribune, federal immigration policies that cap the number of H-1B visas for foreign scientists and engineers don't just hinder U.S. tech firms; they funnel talented people to other countries, resulting in “innovation happening there that used to happen here,” which attracts venture capital funding.
Jacobs calls this “very scary for the United States.” He's absolutely right. The need to reform our H-1B visa policies grows more urgent by the day.
