What Mobileye deal means for Israel's tech sector
Pride has quickly given way to consternation in some parts of Israel's tech community, following yesterday's news that Intel will buy hometown hero Mobileye for $15.3 billion. In short, there accusations that Mobileye sold out to Silicon Valley.
But Israeli venture capitalist Mike Eisenberg isn't going with the local crowd. Instead, he argues in a blog post that the Intel purchase will increase global attention on Israel's machine learning sector and, more importantly, inspire new entrepreneurs:
Given Israel's competitive nature (and abounding Chutzpa), people want to beat their icons. Now, they know it is possible to build a global $15 billion company in 10+ years. They will aspire to build a $25 billion company and keep it independent or sell it.