Tech reckons with Saudi cash after journalist’s brutal murder

Tech reckons with Saudi cash after journalist’s brutal murder

6 years ago
Anonymous $oIHRkISgaL

https://www.theverge.com/2018/10/18/17995284/silicon-valley-saudi-arabia-jamal-khashoggi-investment-slack-uber

Last week, news surfaced that Saudi Arabian officials were suspected to have killed US journalist Jamal Khashoggi, allegedly torturing and dismembering him inside the Saudi consulate in Istanbul. Across Washington, officials are now discussing ways to penalize the country for the killing, whether through sanctions or other methods. But that reaction could create unexpected problems for US tech companies, which have received billions in investment from Saudi Arabia in recent years.

Crown Prince Mohammed bin Salman has poured money into American tech companies both directly and indirectly, as part of an initiative to diversify the country’s oil-dependent economy. It’s called Vision 2030, and the Saudis hope to invest at least $2 trillion within the next two decades in industries like energy and technology. The move has made Saudi Arabia the biggest investor in US tech startups, a status that may now have uncomfortable implications for the industry at large.