Silicon Valley’s sovereign wealth problem
According to the latest reports from the Wall Street Journal, Saudi Arabia is now the single-largest source of funding for US-based tech companies.
Since 2016, the Saudi royal family has invested at least $11 billion into US startups directly,
and in August, the Saudi Arabian government committed $45 billion to Softbank’s $92 billion Vision Fund.
To put that into context, the total amount of funding deployed across all VC deals so far in 2018 is $84.3 billion — a record for the industry, but a paltry sum relative to the wealth of the Saudi Kingdom.
TechCrunch
https://techcrunch.com/2018/10/28/silicon-valleys-sovereign-wealth-problem/