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2 Israeli tech firms to pull funds out of the country, citing risk posed by Netanyahu government
(JTA) — The Israeli founder of an international payroll company that provides services to Toyota and Microsoft has announced that she will move her company’s money out of Israel over concerns about its new right-wing government.
Eynat Guez, a co-founder and CEO of Papaya Global, which was valued at $3.7 billion in 2021, made the announcement Thursday on Twitter. Her announcement came the morning after Israeli Prime Minister Benjamin Netanyahu defended his government’s proposed judiciary reforms and after weeks of mounting warnings, from within Israel and abroad, that the reforms could harm Israel’s credit rating. Netanyahu dismissed those warnings on Wednesday as overblown.
“Following Prime Minister Netanyahu’s statements that he is determined to pass reforms that will harm democracy and the economy, we made a business decision at Papaya Global to withdraw all of the company’s funds from Israel,” Guez tweeted on Thursday morning. “In the emerging reform, there is no certainty that we can conduct international economic activity from Israel. This is a painful but necessary business step.”
Guez has emerged as a leader within Israel’s vaunted tech sector in protests against the new government, speaking at a rally of tech workers in Tel Aviv that took place last weekend amid protests around the country. The rallies are largely focused on the governing coalition’s judiciary proposals, including legislation that would allow the Knesset, Israel’s parliament, to overrule Supreme Court decisions.
In her speech, Guez said she had been encouraged to raise money for Papaya Global from the United States, a common step for Israeli firms, but had resisted because she wanted to live in Israel and raise her children there, the way her parents had after immigrating from their birthplaces in Morocco and Tunisia.
She also noted that $54 billion in capital from abroad had been invested in Israeli companies in the past three years. “Without a democracy, we’d never have these $54 billion,” she said. “And not the tens of thousands of employees who joined the high-tech sector in recent years.”
Guez said foreign investors had been calling with concern about whether Israel’s democracy was crumbling. “Just like in Brazil, Venezuela and Hungary, no leading investor or financial institute will let his billions stay in a country with a crumbling democracy,” she said. She added, “Let’s say this loud and clear: Startup Nation without a democracy cannot stand.”
A second, smaller Israeli tech company is also moving its bank accounts out of Israel, according to the Israeli tech publication Calcalist. The firm, Disruptive AI, raises money for artificial intelligence startups and manages $250 million in funds.
Guez did not further explain Papaya’s business decision on Thursday and how it would affect the company or its employees. The company, which says it manages more than $3 billion in payroll for companies in 160 countries, entered the ranks of Israel’s “unicorn” tech firms in early 2021, meaning that it was valued at over $1 billion. It raised $250 million against a valuation of $3.7 billion later that year.
Israel’s tech sector has been experiencing the same downturn as the global tech sector, in which sweeping layoffs have been taking place in recent weeks. Last year was the worst since 2014 for the number of Israeli companies being acquired or going public.
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University of Michigan will have a leader who defended pro-Palestinian protesters in court
A civil rights attorney who defended pro-Palestinian protesters in court and made social media posts viewed as pro-Hezbollah and antisemitic, has won his bid for the University of Michigan Board of Regents.
Michigan is one of a few states in which voters play a direct role in choosing university overseers. As a regent, Amir Makled (D) will help oversee expenditures at the university where his clients, the student protesters, were arrested. The position is unpaid and carries an eight-year term. Democrat Paul Brown won the other seat up for election, maintaining the board’s 6-2 Democratic majority.
Makled beat out Republican challenger Lena Epstein, who is Jewish and previously identified as a “Jewish Messianic believer of Christ,” but recanted the statement and later said she was “100% Jewish.” Mainstream Judaism does not accept Messianic Jews because they believe in the divinity of Christ and try to convert Jews to Jesus.
Epstein told the Forward in an April interview that the Democrats had handed her an opportunity to win the seat by endorsing Makled, who was facing intense scrutiny. In one of his controversial posts, Makled called Hezbollah leader Hassan Nasrallah a “martyr” after he was killed by Israeli strikes in 2024. He lost an endorsement from Service Employees International Union for the posts and later deleted them.
In the regents race, voters picked up to two of six candidates, with the top two winning. Makled received 25.6% of the vote while Brown received 27.2%. Epstein received 22.2% while her fellow Republican Michael Schostak received 22.6%.
Makled’s election comes as part of a wave of Democratic Party wins, including in Michigan, which elected as Senator Abdul El-Sayed (D), who also faced severe backlash for statements related to Israel and Gaza and for appearing alongside streamer Hasan Piker, who has been accused of antisemitic rhetoric.
Israel played a major role in the rhetoric surrounding Michigan’s midterms. But voters, including 60% of Jewish voters that voted for El-Sayed according to early exit polls, favored sharp critics of the Jewish state to candidates in support of it.
The post University of Michigan will have a leader who defended pro-Palestinian protesters in court appeared first on The Forward.
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This grandson of Holocaust survivors is headed to Congress. The ADL has concerns about his antisemitism record.
The election of Daniel Biss, a Jewish critic of Israel, to an Illinois congressional seat Tuesday has sparked a public feud between the Anti-Defamation League and the liberal Zionist group J Street over whether the ADL remains a credible voice in the fight against antisemitism.
After Biss, the former Jewish mayor of Evanston, Ill., won his seat Tuesday night, the ADL Midwest took to social media to express “serious concerns” about Biss’ “approach to antisemitism.”
J Street, which had endorsed Biss, hit back, noting that Biss is the grandson of Holocaust survivors and calling the ADL’s statement “a shanda,” the Yiddish word for disgrace.
“It is hard to read this statement without wondering how far the ADL has drifted from the organization it once was – a gold standard in our community for standing up against bigotry, hatred and discrimination,” J street wrote on X.
Biss, who speaks Hebrew and spent childhood summers in Israel, was elected with 75% of the vote in a district where 11% of the electorate is Jewish.
“It saddens me to watch the ADL, once a preeminent civil rights organization, devolve into an entity that traffics in fear, intimidation and extremism,” Biss wrote in a statement to the Forward. “This kind of rhetoric does nothing to keep the Jewish people safe—in fact, it undermines that very cause.”
The ADL has long faced scrutiny from critics who view the watchdog group as labeling too broad a swath of Israel criticism as antisemitic, while less forcefully condemning antisemitism when it comes from the political right.
“Our statement speaks for itself,” an ADL spokesperson wrote in an email to the Forward.
In its statement, the ADL pointed to a specific set of concerns involving Biss’ record as mayor of Evanston, Illinois, the college town home to Northwestern University.
Biss did not provide Evanston police support that Northwestern requested after reported “antisemitic conduct” at the Gaza war encampment on campus in April 2024, the ADL said, “raising serious questions about whether the safety, dignity, and equal access of Jewish students were treated with the urgency they required.”
Biss has defended his decision not to dispatch police to the encampment, writing in response to a congressional inquiry that forcibly clearing the protest would have gone against police department advice and suppressed “constitutionally protected speech.”
The ADL also said that Biss “dismissed scrutiny of his response as a politically motivated attack fueled by AIPAC, rather than substantively addressing the concerns raised by Jewish students and community members.”
Biss made opposition to AIPAC a central theme of his primary campaign for Congress after the hardline pro-Israel lobbying group spent millions opposing him and supporting another candidate, state Sen. Laura Fine.
In an interview with the Forward in March, Biss said it was “absurd” that AIPAC opposes imposing any conditions on U.S. military aid to Israel. “And then try to enforce it with millions of dollars of dark money, is certainly bad for democracy and bad for our politics here in America,” Biss added.
At the same time, Biss faced pressure to his left on Israel in the primary, defeating Kat Abughazaleh, a Palestinian-American who has characterized Israel’s conduct in Gaza as a genocide. Biss, who has described himself as a progressive Zionist, declined to use the word genocide, despite repeated calls from Abughazaleh to do so.
In a March op-ed in The Nation, Biss wrote that he believed he was one of AIPAC’s top targets partly because “I’m the grandson of Holocaust survivors. My mother is Israeli. My extended family lives in Israel. AIPAC knew that they couldn’t dismiss me as anti-Israel or antisemitic.”
The ADL also criticized Biss for supporting the repeal of an anti-BDS law, which bars Illinois from investing public pension funds in companies that boycott Israel. That position, the ADL said, “raises additional concerns about his willingness to stand against efforts to isolate and delegitimize the Jewish state.”
In an April Substack post explaining his position, Biss said that he personally opposes the global movement to boycott Israel, but he does not believe the government should “stop people from using their economic agency to advocate for their values.”
Biss will succeed Rep. Jan Schakowsky, a Jewish lawmaker who represented the district for nearly three decades and was also an outspoken critic of AIPAC.
The post This grandson of Holocaust survivors is headed to Congress. The ADL has concerns about his antisemitism record. appeared first on The Forward.
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At the Vatican, two elderly men — one Jewish, one Catholic — exchange gifts and mutual admiration
On Wednesday, two senior citizens, Robert Zimmerman, 85, a Jew originally from Minnesota, and Robert Prevost, 71, a Catholic of Chicago, had a brief meeting at the younger man’s office in central Italy.
Sources on the scene report that Zimmerman was in town for business and Prevost, who goes professionally by Leo, had recently cited Zimmerman’s work in the preface to a book about nuclear disarmament.
Both men dressed in uniform, looking a bit Spy Vs. Spy, with Zimmerman in a black hoodie and Prevost in white with a small white skull cap. The confab was brief, a bulletin from Prevost’s workplace reported, consisting of “greetings and a few lighthearted exchanges.”
Prevost gifted Zimmerman with prayer beads, and Zimmerman presented Prevost with a copy of his memoir, published under his pen name, Bob Dylan.
While Zimmerman was raised in a Jewish home, he had, for a time in the late 1970s to early 1980s, converted to born-again Christianity, confounding many.
The post At the Vatican, two elderly men — one Jewish, one Catholic — exchange gifts and mutual admiration appeared first on The Forward.

