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It is deeply uncomfortable working in the tech industry knowing how much Saudi money has been sunk into VC funds and VC-back tech cos (some of which I've worked

It is deeply uncomfortable working in the tech industry knowing how much Saudi money has been sunk into VC funds and VC-back tech cos (some of which I've worked for).

walrus01 8y ago
If that makes you uncomfortable, research how much Saudi money was already invested into US real estate and major financial companies when 9/11 happened. The deal since the post WW2 era has basically been: a) US and UK provide military equipment and military power to guarantee the security of the house of Saud. (Example: US reaction to the Iraqi invasion of Kuwait, operation desert shield/desert storm). b) Saudi government and ARAMCO extract a shitload of oil and sell it, while using technical services of US and UK oil companies c) Saudi government re-invests a certain huge amount of the proceeds from their post-1940s oil wealth into the US and UK economies.
- dawhizkid 8y ago
  Sure, it's just much more tangible when you actively choose to work for a VC-backed tech co that has accepted Saudi money, especially coming off the news that Saudis are funding a large percentage of Softbank's newest fund.
75dvtwin 8y ago
Money from Saudi Arabia and other Sunni-majority countries are well integrated into the world's Banking system. I doubt you can just carve out Saudi money out. Building such filters now, would be quite a challenge technically, and obviously, our politicians think that that would destabilize the region, or move the 'seems-like-our-allies' towards Russia/China. Plus it would affect dramatically London's real-estate prices (it will drop, by quite a bit) that could trigger some sort of short-term British pound crisis. Most of the leading European Banks offer what is known as 'Islamic Finance' products, as well (that's in addition to other integration methods). See (2015) "... There are currently six Islamic banks in Britain, while another 20 lenders currently offer Islamic financial products and services, more than any other Western country. Chancellor George Osborne has said promoting the Islamic finance industry, which is worth nearly $2 trillion, would help make Britain “the undisputed centre of the global financial system". Mr Ellwood also celebrated notable sharia-compliant investments that have been used to fund some of the capital’s largest developments, including The Shard and the Olympic Village. …" So VC money backed by Saudis is just one more, of many many vehicles employed. https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11435465/Britain-to-lead-the-world-in-Islamic-finance.html https://www.telegraph.co.uk/finance/newsbysector/banksandfin...
Natsu 8y ago
Not to mention who owns so much of Twitter...

It is deeply uncomfortable working in the tech industry knowing how much Saudi money has been sunk into VC funds and VC-back tech cos (some of which I've worked for).

walrus01 8y ago

If that makes you uncomfortable, research how much Saudi money was already invested into US real estate and major financial companies when 9/11 happened. The deal since the post WW2 era has basically been: a) US and UK provide military equipment and military power to guarantee the security of the house of Saud. (Example: US reaction to the Iraqi invasion of Kuwait, operation desert shield/desert storm). b) Saudi government and ARAMCO extract a shitload of oil and sell it, while using technical services of US and UK oil companies c) Saudi government re-invests a certain huge amount of the proceeds from their post-1940s oil wealth into the US and UK economies.

dawhizkid 8y ago
Sure, it's just much more tangible when you actively choose to work for a VC-backed tech co that has accepted Saudi money, especially coming off the news that Saudis are funding a large percentage of Softbank's newest fund.

75dvtwin 8y ago

Money from Saudi Arabia and other Sunni-majority countries are well integrated into the world's Banking system. I doubt you can just carve out Saudi money out. Building such filters now, would be quite a challenge technically, and obviously, our politicians think that that would destabilize the region, or move the 'seems-like-our-allies' towards Russia/China. Plus it would affect dramatically London's real-estate prices (it will drop, by quite a bit) that could trigger some sort of short-term British pound crisis. Most of the leading European Banks offer what is known as 'Islamic Finance' products, as well (that's in addition to other integration methods). See (2015) "... There are currently six Islamic banks in Britain, while another 20 lenders currently offer Islamic financial products and services, more than any other Western country. Chancellor George Osborne has said promoting the Islamic finance industry, which is worth nearly $2 trillion, would help make Britain “the undisputed centre of the global financial system". Mr Ellwood also celebrated notable sharia-compliant investments that have been used to fund some of the capital’s largest developments, including The Shard and the Olympic Village. …" So VC money backed by Saudis is just one more, of many many vehicles employed. https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11435465/Britain-to-lead-the-world-in-Islamic-finance.html https://www.telegraph.co.uk/finance/newsbysector/banksandfin...

Natsu 8y ago

Not to mention who owns so much of Twitter...