Tech’s elite gathered in San Francisco for 2 days of startup pitches, and it revealed the strange way Silicon Valley is grappling with its misgivings over Saudi money
|08/24/2019||Posted by BusinessMediaguide.Com under General World News||
- At Y Combinator’s annual pitch competition Demo Day, hundreds of investors come to San Francisco to hear from the accelerator’s latest group of founders.
- Three teams from Northern Africa or the Middle East presented to investors, pitching localized services like food delivery for underserved markets like Iraq and Egypt.
- Many investors, however, expressed concern investing in companies from another country in the region, Saudi Arabia, as concern mounts over the government’s human rights abuses.
- The country’s sovereign wealth fund has been an active backer of Silicon Valley tech companies through investment funds like SoftBank’s Vision Fund.
- Many investors, however, said read more >>>