The UK has voted to leave the EU and Prime Minister David Cameron has said he plans to resign. That all comes as a blow for the country’s tech sector, which was overwhelmingly in favour of remaining in the EU.
One poll found that 87% of respondents who work in tech wanted to remain.
We asked some tech investors and startup CEOs what they thought about the referendum result.
One tech investor Business Insider spoke to (who wished to remain anonymous) said: “Whole thing is shit. Fuck me.”
Index Ventures partner Martin Mignot, who invests in early stage technology companies in Europe, was one of the first people to tweet a reaction to the news:
We’ll obviously keep investing in the UK and EU. Like it or not, tech has no borders.
— Martin Mignot (@martinmignot) 24 June 2016
Husayn Kassai, CEO of London tech startup Onfido sent over the following comment:
“There is a powerful state of unease this morning as the UK wakes up to the Brexit news.
There is a lot of uncertainty around but one thing for sure is that this is bad news for the tech industry.
Gone are our hopes for a digital single market, there will now be question marks over London being a powerhouse for finance and technology, and it is likely to make it harder to attract top calibre tech talent to the UK.
Now the tech industry and the UK needs to understand the cards we’ve been dealt and work out how best to move forward.”
And this statement comes from Debbie Wosskow, CEO of Love Home Swap:
“Make no mistake, the news this morning is seismic.
It is disappointing that we are in this situation and there is no doubt that the weeks ahead will be turbulent for many different reasons.
That said, we are where we are – and now entrepreneurs need to draw on their ability to embrace change and deal with adversity by tackling these challenges and carving out a new way forward.”
Here’s Mike Laven, CEO of fintech startup Currencycloud:
“There’s no doubt that the nation’s decision to leave the EU has major macro-economic implications – Negotiations will be long and ongoing — and this uncertainty alone means we can expect significant volatility ahead.
“However, London’s advantageous time zone, strong financial history and FX expertise aren’t going to disappear overnight. Somewhere else in Europe being a global financial capital. Seriously? It took decades to develop the infrastructure of firms, services, lawyers, insurers, intermediaries, and myriads of financial niches and massive personnel base that makes London special. Talk to European tech entrepreneurs and they are concerned about being cut off from London’s resources. Will it get more difficult — of course. But with our contingency plans in place we’ll avoid the doomsday scenarios.”