fine by me. If an H1B loses their job and wants to start another company, without going on the dole, then I would be open to letting them stay.
It would be conditional and they would have to hire American workers.
I have had some friends move back to India and China after their jobs were eliminated but, if they were going to create a new company, I’d let them stay.
Tying the H1B visa to the person rather than the company was one of my suggestions for fixing the problem. If the H1B holder can work for any company (or even himself) rather than being a near indentured servant to the company which applied for their visa, then his wage would be at or very near the prevailing wage. It would no longer be a source of underpaid labor competing against citizens.