| Israeli Tech Comes Out on Top I had long known of Israel as a site of laboratories and design centers for American microchip companies. I knew that in a real sense much of American technology could reasonably bear the emblem Israel Inside. I knew that Intel corporation was both the US and world leader in microchips and deeply dependent on Israeli technology. I was familiar with a few prominent Israeli start-ups, such as Wired magazine cover boy Shai Agassi’s famed but finally failed démarche in modular electric cars. I was amazed by Gavriel Iddan’s company Given Imaging, with its digestible camera in a capsule for doing endoscopies and colonoscopies. Rather than swallowing gallons of emetic fluids to clean out his system, the patient merely consumes a single capsule, the size of a pill, containing a camera and a wireless transmitter. This device takes as many as 2,000 high-resolution pictures a minute and sends them wirelessly for the physician’s scrutiny. In Jerusalem, Jonathan Medved made a case not merely for Israel as a site for research and outsourcing and the occasional conceptual coup, but for Israel as the world leader outside the United States in launching new companies and technologies. This tiny embattled country, smaller than most American states, is outperforming European and Asian Goliaths 10-100 times larger, deploying hundreds of billions of dollars in multi-state research-and-development subsidies, venture funds, and technology programs, and led by national-champion titans such as Roche and Huawei Technologies, STMicroelectronics and NEC Corporation. Medved told me that Israel was a prime source not only of fiber optics and free-space optics but also of another form of hidden light: what is called ultra-wideband (UWB) technology. These are wireless transmissions, not millions of hertz-wide at relatively high power like cell-phone signals, but billions of hertz-gigahertz at power so low as to be undetectable by ordinary wireless antennas. In a usual application, a company called Wisair, headquartered high in an office building in Tel Aviv, uses UWB for wireless interconnection of high-definition images and audio on computers and set-top boxes in homes. From Australia today, a company called Baraja, with offices in San Francisco, is using prisms and ultrawideband scanning to compete with Luminar and Innoviz in vision systems for automobiles. George Gilder Says "Brace Yourself for a Market 'Reboot'..." Today’s Prophecy As I investigated Israeli companies, it became clear to me that this country had achieved an economic miracle that was important to the United States and to the world. The technology leadership of Israel made the country a vital ally of the United States in its confrontation with what Norman Podhoretz long prophetically described as World War IV — following the cold war with a chilling global engagement against the enemies of capitalism and civilization. Today, I am happy that Luminar has so far outperformed Innoviz in market cap and in major automotive partners. Including the prestigious Intel subsidiary Mobileye of Israel, which chose Luminar over Innoviz. But anyone who wants to diversify in the worldwide rivalry in vision systems for increasingly autonomous vehicles could not go wrong in an investment in CGRO as a SPAC for INVZ, and as a tribute to Israel’s continuing festival of light. Regards, 
George Gilder
Editor, Gilder's Daily Prophecy | 
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