JStone
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- Jun 29, 2011
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Warren Buffett
Wall Street Journal: Where Tech Keeps Booming, In Israel, a Clustering of Talent, Research Universities and Venture Capital...
"Google, Cisco, Microsoft, Intel, eBay . . . ," says one of eBay's executives. "The best-kept secret is that we all live and die by the work of our Israeli teams."
[ame=http://www.youtube.com/watch?v=IxAKFlpdcfc]Applause - YouTube[/ame]
[ame=http://www.youtube.com/watch?v=JbX60Pktzsk]Warren Buffet on Israel - YouTube[/ame]If you go to the Middle East looking for oil, you don't need to stop in Israel. But, if you're looking for brains, for energy, for integrity, for imagination, it's the only stop you need to make"
Wall Street Journal: Where Tech Keeps Booming, In Israel, a Clustering of Talent, Research Universities and Venture Capital...
"Google, Cisco, Microsoft, Intel, eBay . . . ," says one of eBay's executives. "The best-kept secret is that we all live and die by the work of our Israeli teams."
There are more new innovative ideas coming out of Israel than there are out in Silicon Valley right now. And it doesn't slow during economic downturns." The authors of "Start-Up Nation," Dan Senor and Saul Singer, are quoting an executive at British Telecom, but they could just as easily be quoting an executive at Intel, which last year opened a $3.5 billion factory in Kiryat Gat, an hour south of Tel Aviv, to make sophisticated 45-nanometer chips; or Warren Buffett, who in 2006 paid $4 billion for four-fifths of an Israeli firm that makes high-tech cutting tools for cars and planes; or John Chambers, Cisco's chief executive, who has bought nine Israeli start-ups; or Steve Ballmer, who calls Microsoft "as much an Israeli company as an American company" because of the importance of its Israeli technologists. "Google, Cisco, Microsoft, Intel, eBay . . . ," says one of eBay's executives. "The best-kept secret is that we all live and die by the work of our Israeli teams."
Israel is the world's techno-nation. Civilian research-and-development expenditures run 4.5% of the gross domestic product—half-again the level of the U.S., Germany or South Korea—and venture-capital investment per capita is 2½ times that of the U.S. and six times that of the United Kingdom. Even in absolute terms, Israel has only the U.S.—with more than 40 times the population—as a challenger.
Israel—a country of just 7.1 million people—attracted close to $2 billion in venture capital in 2008, as much as flowed to the U.K.'s 61 million citizens or the 145 million people living in Germany and France combined." At the start of 2009, some 63 Israeli companies were listed on the Nasdaq, more than those of any other foreign country. Among the Israeli firms: Teva Pharmaceuticals, the world's largest generic drug maker, with a market cap of $48 billion; and Check Point Software Technologies, with a market cap of $7 billion.
Book Review: "Start-Up Nation" - WSJ.com
[ame=http://www.youtube.com/watch?v=IxAKFlpdcfc]Applause - YouTube[/ame]