Hundreds of Israeli tech executives and entrepreneurs sent a letter last week to Prime Minister-designate Benjamin Netanyahu expressing concern over “the devastating consequences for the economy in general, and the high-tech industry in particular, that may result from the legislative processes taking place in the Knesset.” The signatories include founders of start-up companies, investors and managers of venture capital funds.
The unusual appeal to Netanyahu was prompted by a legislative blitz by his incoming coalition government that critics warn undermines the independence of the judiciary, erodes minority rights and endows ultranationalist and radical religious leaders as top ministers with sweeping new powers. The new laws would undermine confidence in Israeli democracy and “may deter the investors who have driven the growth of this great industry,” the writers warned.
