'Existential Threat': Hi-tech Execs Warn Netanyahu Against Undermining Israel's Justice System – Israel News – Haaretz
In a letter signed by more than a hundred senior officials in the Israeli hi-tech industry, they call on the prime minister-designate to "stop the intensifying snowball and steady the ship"
Senior figures in the Israeli high-tech industry published a letter addressed to Prime Minister-designate Benjamin Netanyahu on Thursday in which they expressed their concern that the legislative actions of the incoming government might have “devastating consequences for the economy in general and the high-tech industry in particular.”
The letter, which was initiated by Qumra Capital co-founder Erez Shachar and signed by over a hundred senior industry officials, read: “As citizens, we respect the results of the recent elections that reflect the will of the people and believe that as prime minister you will act in the interest of all Israeli citizens.
“However, harming the court’s status, as well as harming the rights of minorities based on religion, race, gender or sexual orientation, will constitute a real existential threat to the glorious high-tech industry that has been built in Israel with great effort over the past three decades.”
The authors later noted the large amounts of money coming to the industry from the U.S. and Europe: “These investors are of course looking for financial returns on their investment, but they also share significant fundamental values with the countries and industries in which they invest. Legal stability is a necessary condition for international investors and helps them invest in certain countries. Whereas the lack of such stability drives them away from other countries.
“The undermining of trust in the Israeli justice system and, as a result, in Israeli democracy, and legislation that calls into question the basic and fundamental rights of every person, regardless of who they are, may discourage those investors who have driven the growth of this wonderful industry.
“In their wake, we may also see an influx of technology companies, all of them international companies in essence, outside of Israel, as well as their tax payments. You of all people should understand and know that this could have devastating consequences for the economy and society in Israel.
“As citizens whose country is important to them, we must not let this happen! Do not allow Israel’s position in the world to be harmed and the continued growth of the Israeli economy for the benefit of all the citizens of the country. We demand that you stop the intensifying snowball, steady the ship and maintain the status quo between all parts of Israeli society.”
Nir Zuk, founder of Palo Alto Networks, Israel, was listed among the letter’s signees. However, after the document was published, Zuk denied his involvement.
A representative for Zuk said that “Nir is not familiar with the document, he was not approached for a signature and, needless to say, he did not sign it either. This is a fabricated signature.” The authors of the document confirmed that the signature was not his.
Other signees included Mellanox founder Eyal Waldman, Cato Networks co-founder Shlomo Kramer, Pitango co-founder Chemi Peres, entrepreneur Orni Petruschka, investor Pinhas Buchris, Blumberg Capital managing director Yodfat Harel Buchris and Monday CEO Roy Man.
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