Where Our Tech Comes From
All right... I won't lie: I'm a millennial.
And as a millennial, I grew up with technology. I use it all the time and like to think I'm pretty good with it.
But the thing is, I like and use technology, but I don't know where a lot of it comes from.
And until I started working with Charles, I hadn't realized how prominent Israeli technology is. Not only in America but also in the rest of the world...
Israeli Technology Is Everywhere!
Have you ever used a USB flash drive? Some people call them thumb drives. They hold several thousand times more data than a floppy disk did.
Everyone around the globe uses a USB flash drive.
But who invented it? The Israeli company M-System did. And it sold the USB flash drive to SanDisk Corporation for over a billion dollars.
I use a GPS application called Waze. It analyzes traffic data and gives you directions to where you want to go. It's used in hundreds of countries. And what's better, the app tells you what the quickest route is.
As someone who works in Baltimore, Waze is invaluable to me. Yesterday, It notified me of an accident and directed me home through a different route. And I avoided an extra hour on my commute because of it.
So, where was Waze developed? You guessed it: in Israel. Its original name was actually FreeMap Israel. And Google acquired Waze in 2013 for billions of dollars.
Remember earlier this year when a youth soccer team and its coach were trapped in a cave in Thailand for over two weeks?
Israeli technology assisted in their rescue.
Israeli company Maxtech Networks sent a daisy chain of radio-like walkie-talkies into the Tham Luang Nang Non cave. With Maxtech's technology, the boys were able to set up video and voice communication with rescuers.
By July 10th, all 12 players and their coach were rescued from their entrapment.
Maxtech's radio-like devices were crucial to the recovery effort. They maintained connection in the cavern where it wouldn't be possible for regular communication devices...
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The Startup Nation
It's not only Silicon Valley and China leading the world in technology innovation.
It's Israel, too.
Aside from the U.S., Israel produces the most technology startup companies in the world. And it has the most companies trading on the Nasdaq than any other country.
So, it's no wonder that the country, which is only a little larger than New Jersey, has been dubbed the "Startup Nation."
And Tel Aviv, Israel's second-biggest city, is the center of all the action. The city has produced plenty of tech innovations over the years. And it's home to thousands of Israeli startups that are developing their innovations for the world.
Companies from abroad want a piece of the pie, too. They're setting up research and development (R & D) offices in Tel Aviv. These companies include Facebook, Google, Alibaba, LG, and many more...
And because of this, Tel Aviv is known to the tech industry as Silicon Wadi. (Wadi translates to "valley" in Arabic.)
Talent and innovation are bursting out of the Startup Nation. There's no telling what life-changing technology will come out next.
Regardless of what it is, it'll shake up the technology sector. And it'll reinforce Silicon Wadi and the Startup Nation's reputation.
John Butler Jr.
Contributing Editor, Park Avenue Digest