and they lie and they lie and they lie
https://blogs.timesofisrael.com/googles-32bn-wiz-acquisition-israels-facebook-moment/A triumph for Israel
This deal is a testament to Israel’s innovation and cybersecurity prowess and is primed to unleash a similarly positive domino effect as the Facebook IPO. The financial implications are staggering, with the potential to generate a record tax windfall for Israel, during a time of war.
Should Google complete the acquisition of Wiz for $32 billion (around a fifteenth of Israel’s 2024 national budget), the estimated tax revenue from the sale would be between $3-4 billion (~3% of Israel’s entire national budget).
This influx of funds could be transformative, negating planned budget cuts and preventing an increase in the country’s deficit. In fact, Finance Ministry officials have even suggested that it could pave the way to roll back some tax hikes planned for 2025. This deal is not only a victory for Israel’s tech sector but for its economy as a whole. Especially after a difficult 18 months of war, a war that has been draining emotionally, and physically and which has increased day-to-day spending for the average Israeli. Before the war, then deficit was below 1.5% and military spending was $1.8 billion monthly, while, as the conflict continued, the deficit peaked at ~8% as military spending increased to $4.7 billion per month.
