Paul Biggar: Google Buyout Won’t Fix Israel’s Spy-Run Tech Sector
MintPress NewsJUL 2024
Report: Google-Wiz Acquisition Falls Apart
Image copyright: Gary Hershorn/Contributor/Corbis News via Getty Images
The Spin
Narrative A
It seems growing antitrust sentiments have scared Wiz into backing down. As this $23B offer was certainly difficult to turn down, the regulatory pressure from Washington was strong enough to send Wiz to a risky IPO over the easy acquisition money, and marks a significant setback for Google.
Narrative B
While this is certainly a setback for Google, it could also have repercussions for Israel. Contributing 20% to the nation's GDP, Israel — suffering economic damage from the ongoing war — is dependent on the tech company, and any loss of confidence in it will directly impact the country's economy. This isn't a smart move.