Verbit High-Tech Startup To Leave Israel In Protest Against Judicial Reform - Reports

MOSCOW (UrduPoint News / Sputnik - 06th February, 2023) Tom Livne, founder and CEO of multibillion-dollar Israeli startup Verbit, announced the company's withdrawal from Israel in protest against the government's judicial reform, Israeli media reported on Wednesday.

The Verbit developed an automated text transcription technology that transforms oral speech into text based on artificial intelligence. The project was launched in 2017.

Livne wants to stop paying taxes in Israel because of the attempts of Prime Minister Benjamin Netanyahu's government to undermine the independence of the country's judiciary, according to the Haaretz newspaper.

"When we, the engine of the economy, speak like that and really take these steps, I think that they will come to the table and speak," Livne was quoted as saying by the Haaretz newspaper.

The entrepreneur's announcement came less than 24 hours after high-tech employees held a mass protest in Tel Aviv against planned judicial reform.

Livne hopes that other business people will follow his example and "simply move abroad from Israel ... to cease paying taxes here," media reported.

In late January, the founder of the international startup Papaya Global, Eynat Guez, also announced the withdrawal of the company's funds from Israel in response to the government plans.

On January 4, Israeli Justice Minister Yariv Levin rolled out a legal reform package that would limit the authority of the High Court of Justice and give the cabinet control over the selection of new judges. The planned overhaul sparked public criticism and prompted a wave of protests.