If you’re on an H1B, you must be employed by a company. If you get fired or quit, you must find a job within a couple of months or leave the country.

In the IT industry though - at this time - that is probably not a huge risk.

Its more of a question of status. If youre one month away of being sent back to India how can you feel good about yourself.

It's more about the restriction against quitting to work on your own thing, because you have to be gainfully employed by a company with a few restrictions such as the field. I know several people in the States who are miffed about that in particular, and are considering returning (or moving to Canda, where getting a PR is significantly easier) for that reason alone.