From offices to the street: Many high-tech companies joined the business forum that announced yesterday (Sunday) the shutdown of the activities of the partner companies in the business forum. About 150 high-tech companies and venture capital funds shut down their activities this morning, allowing employees to participate in protests against the legal reform.
About 60 buses funded by the companies arrived in Jerusalem in the morning. Some of the companies completely closed the company's operations, some allowed a full day off at their own expense and some a partial day off. "We are participating in the protest today, a very sad day for the State of Israel, all the high-tech sectors have mobilized to try to save democracy, we are very sad about what is happening here. We warned at the very beginning that if the reform passes, there will be economic ruin and destruction of the high-tech industry," Tal Barnach, CEO of venture capital funds Adaptive and Adaptive AI, told Israel Hayom.
Moshe Redman, one of the leaders of the high-tech protest, was arrested at a demonstration in front of the Knesset // Israel Hayom News
"Unfortunately, everything we warned is happening now. High-tech is in the planks, there will be no taxes for the State of Israel because there are far fewer exits in high-tech, no new companies are being established, foreign investors do not want to invest here, and this will affect all of us, because there will be much less money for the State of Israel, the weaker sectors will be hit very hard."
Barnach, it should be recalled, announced at the beginning of the year that he would withdraw the funds of the two venture capital funds from Israel following the promotion of the legal reform. Regarding criticism that the withdrawal of money from Israel has fueled the decline in the volume of foreign investment in Israel, Barnach says: "It's scrambled nonsense. Company managers who decided to manage risks and spend their money because they were afraid that if the government controlled the court as well, a new situation would be created here, did risk management and opened more accounts abroad, many companies do it is a responsible move."
The high-tech protest in Beer Sheva (archive), photo: Dudu Greenspan
The headquarters of the high-tech protest said: "We join our friends from the business forum who rightly announced the shutdown of the companies, and we will stand shoulder to shoulder with them tomorrow in the war on the face of the State of Israel. We will not allow the Israeli government to lead to the collapse of the economy and the destruction of high-tech. We have no other country."
Among the companies participating in today's demonstrations are: Wix, Wiz, Monday, Reddis, CheQ, Taito Car, skai, Oguri, Natural Intelligence, Fireblocks, Upflyer, Kaltura, Dazz, Comra Capital, Disadaptive, NFX, Pitango, Hyboob, AU10TI, Akeyless Security, TPY Capital, Laminar, Panetra, Zencity, Anywell, Emphaty, Leal health, Nexar, SOMV, Sagarmata, Innovasta, Monogoto, CropX, Rhodium, Finnetrix, N1V - North First Ventures, Atera, Intuition Fund, Bookaway, Travilier, Triventures, Ctera, Meron Capital, Siteaware, Axon VC, Cerca Partners, INX, Sisense AI, Bioprotect, DeScope Descope, GlassesUSA, Boligo Capital and more.
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