In a recent interview, Hille Fuld, a media personality who has probably seen more tech startups than anybody else in Israel, gave his prediction regarding the state of the country’s tech sector in the near future. He said that not only would Israel be stronger technologically in the next one year but also democratically. Fuld added that Israel dominated only cyber in the previous years, but it’s now leading in the food, health, and ad technologies.
The prominent tech journalist also said Israel has been attracting new investors in recent months, with millions of dollars already poured into the tech sector. According to Fuld, several globally recognized companies have set up shop in Israel, suggesting that they see the potential of the nation’s tech ecosystem.
Although this is a positive sign, Fuld recognizes that there will be challenges to overcome over the next few months to realize the full potential of the technology sector. When asked whether blockchain technology has use cases in Israel, Fuld said he was not convinced Web3 developers in the country had found a real application for the nascent tech. Additionally, the journalist stated that virtual reality and augmented reality haven’t made Isralities lives any better. He, however, acknowledged that blockchain technology was here to stay.
“Food Technology Sector Leads in Terms of Innovation,” Fuld Says
In the interview, Fuld revealed that Israel’s food technology sector was booming at the moment. According to him, Israel is only behind the United States in terms of the number of existing food technology companies. These firms offer redefined meat, artificial foods, and non-dairy milk products, among others.
Fuld’s Take on Artificial Intelligence
When asked about artificial intelligence (AI) adoption in Israel, Fuld responded that the country was trailing behind in this sector. He also said AI would not be huge as a stand-alone market or industry but could impact other industries significantly if adopted.
Fuld Talks About Proposed Reform
From his response, Fuld does not support the recent hi-tech industry reform. There have also been weekly protests against it on Kaplan Street. He says the proposed reform needs to be reformed as well, arguing that as it stands, it will give Prime Minister Benjamin Netanyahu unlimited power, which many hi-tech industry players do not want.
So what’s the impact of this reform? According to Fuld, the protesters on Kaplan Street believe that the reform will collapse the Israeli economy as the tech sector will crash due to investors pulling their funds.
But he has a different opinion. He says investment funds are not drying up and that more innovative tech projects are being built. Fuld adds that he recently spoke to the founders of prominent venture capital company TLV Partners, who revealed that they had already invested $250 million in Israel’s tech sector and were planning to inject more funds. However, they admitted that the proposed reform was unhealthy for the industry.
Is Fuld Afraid of Backlash Following His Opinion?
When asked whether he’s afraid of players in the hi-tech sector turning against him due to his differing opinion, Fuld said he is prepared for it, adding that some of his friends of more than ten years have stopped talking to him because they did not like listening to his varying views. He also revealed that a section of hi-tech players had previously attempted to harm him professionally after an interview with well-known journalist Ayalah Hasson.
During that interview, Fuld called out owners of Israel-based hi-tech companies who have invested billions of dollars in the industry but still tell horrific and horrible lies about the country online. He said they believed in their subconscious minds that there were two Israels: One revolutionizing the World through technological innovations and the other willing to murder crimeless Palestinians.
Since then, Fuld has been running an online campaign that aims to portray Israel as one nation. He says he feels blessed living in Israel since relocating from New York a few years ago. Fuld is urging developers to continue using technology to improve the lives of people in Israel and better other industries.