'It is not the best technology that always wins'

Each spring, Jewish families worldwide sit down for their Passover Seders. A highlight of the event is reading the Four Questions. Against the backdrop of recent challenges, including the aftermath of the October 7 Hamas massacre and economic uncertainties marked by rising inflation and interest rates, there are signs of optimism in the Israeli high-tech sector. We reached out to leaders in this industry, asking them our own four questions, allowing them to reflect on their challenges, decisions, successes and dreams. Here are their responses:

Challenges

In the last year, what recent challenge have you faced in your industry, and how did you overcome them?

It goes without saying, 2023 was a difficult year for many Israelis. For founders - the personal front, the company front, the employee front - there has been so much to manage while the country is reeling through such a painful, unprecedented time. Although I now live in the Bay Area, my heart (family, friends, and founders) is forever in Israel.

Beyond that, and on a macro level, we saw a lot of ups and downs in the market in the recent year. More than ever before, startups today need to operate efficiently and at the same time continue to grow quickly. As an investor, a recent challenge has been balancing the “gold rush” with artificial intelligence (AI) or security that makes everything look incredible and then be able to invest in the right companies that can build for the long term.

Notable Capital invests in founders who go after large markets in a differentiated way. Companies might start slow or hit a challenging time, but strong founders are able to adjust and iterate quickly. Our job as investors is to leverage our experience and understanding of the macro landscape to work with founders so that they are able to navigate inevitable changes and take advantage of pivotal moments for growth.

Decisions

Looking back, what decision do you feel was the best for your career or business, and why?

Earlier on in my career as a security professional and then a chief information security officer (CISO) in Israel, I was focused on technology and not necessarily how the different pieces in a company worked together. With every professional and academic stop, I learned to appreciate the business outcomes of technology and not just the beauty of the machine itself. This is very similar to how we back companies at Notable. It is not the best technology that always wins; nothing is guaranteed or trivial. This learning contributes to my decision-making in venture. Instead of looking at just one piece, I now think about how things fit together and how they affect the bottom line and the overall success of the business. An example of this is the creation of SVCI (Silicon Valley CISO Investments), a group of CISO angel investors that represents a different kind of VC model that propels technology adoption, holistic business and technology understanding, and more rapid scale-up – a win-win for all.

Successes

What achievement or success are you most proud of, and what lessons did you learn from it?

I am most proud of my repeated ability to take a leap of faith. Investing in early stage startups, there are more unknowns than there are knowns. In the early innings, there are multiple reasons for a business to fail and even companies like Amazon could have failed many times over. Shooting down an idea in its early stage is easy, but identifying what could make it special and succeed takes courage. I’m proud to have been on the side of “my” portfolio founders since the early days and see their bold ideas develop.

Dreams

As you look ahead, what are your aspirations or goals for yourself or your organization in the coming year?

As the newest managing partner in Notable Capital, I aspire for the team to continue living up to our two-decade legacy and exceeding the expectations our investors have of us. On a personal note, Passover is a time of spring and renewal, but for me, every day is always "day one." I wish to continue being a trusted partner for our portfolio acting as a sounding board and someone they know has their back. More broadly, I hope to be the first call founders make, whether it’s from previous engagements with me or from my industry reputation.

Venture is a long-term game, and founders are often in the trenches for many years. When choosing a venture partner, it’s a massive vote of confidence that someone makes with their idea, their livelihood, and their dreams. Every time it happens - I take this vote of confidence extremely seriously.