Mind the Tech NY 2024Don't short Israel's stock
Mind the Tech NY 2024
Don't short Israel's stock
"Israel's stock has suffered and will continue to suffer painful blows, but we advise you not to ‘short’ it. Because we will overcome. We Shall Overcome. Investing in Israel, especially now, is a smart investment that will bear wonderful fruits," said Calcalist Publisher Yoel Esteron at the start of the Mind the Tech conference in New York
This is our sixth conference in New York, and it is different from all previous conferences. Israel is still at war, and it is difficult to know when the war will end, especially when Israeli hostages are still in the hands of the Hamas monsters. But I can promise our many friends in America: we will overcome all our enemies. It will take time, but we will win the war.
This conference in New York is part of a series of events that Calcalist is holding in 2024, together with Bank Leumi and many other partners, in Israel and in several important cities around the world, under the title: Stand with Israeli Tech.
I want to clarify what we mean: we are not asking you to stand by Israeli Tech as an act of charity. We ask that you do it to express confidence in Israel's resilience and we want you to know that this is a smart business decision.
It is impossible to ignore the blows that the Israeli economy has suffered since we last met here. In the first nine months of 2023, the government's attempts to harm democracy and the political instability damaged Israel's brand. Investors stopped investments, and quite a few companies had to lay off employees and halt development plans. Hundreds of thousands of activists, many from the tech community, were forced to take to the streets to defend our democracy.
Then, in October, the tech community mobilized for war with incredible speed and efficiency. In the IDF itself and in assistance to the residents of the Western Negev and the Galilee who left their homes. Israeli tech was revealed in all its glory both in the fight for democracy and in the war against Hamas and Hezbollah.
Now, in 2024, the challenge of Israel is twofold: we need to overcome the crisis and restore the prestige of Israeli tech in the face of waves of hatred and anti-Semitism around the world. At home, we need a new and fresh leadership that will restart the country and create a better Israel. The tech community is essential to this restart. I have no doubt that it will be among the forces that will lead the transformation.
The challenges are great, but we suggest that decision-makers and investors continue believing in Israel. The fundamentals of Israeli tech are still strong. We have excellent leadership of experienced and sophisticated entrepreneurs and investors and we have the best minds that grew in academia and the IDF.
I said it in London, and I want to say it here, too: We understand why some investors are still sitting on the fence and why our friends are worried. Israel's stock has suffered and will continue to suffer painful blows, but we advise you not to ‘short’ it. Because we will overcome. We Shall Overcome. Investing in Israel, especially now, is a smart investment that will bear wonderful fruits.
On this rather optimistic note, I would like to thank all our partners, especially Hanan Friedman, CEO of Leumi Group. Thanks to my colleagues at Calcalist for preparing this conference. Thank you.
