The goal: to calculate a new bubble and additional channels Israel today

The high-tech bubble has been bursting before our eyes for a whole year.

The shares of the sector fall sharply, and companies lay off large amounts.

Even Amazon, which is traded as a high-tech stock, is actually a huge logistics giant that uses software to manage its logistics business, but it is a logistics business for all intents and purposes.

The crypto industry is also collapsing while hurting investors.

Some of the investors knew what they were doing, and many more of them are probably young people who wanted to touch the dream. 

And if we are talking about a dream, then the "dream economy", which has been shaken in the last year, brings us back to the discussion about a real economy or that dream industry.

If we take Amazon as an example, then the company announced more than 18,000 layoffs, which is indeed 5% of the employees in the organization's departments out of its 1.54 million employees, but it should be remembered that most of the employees who joined Amazon in the last three years were "cheap" employees - hourly wage workers who were hired on a temporary basis that online purchases were high due to the corona virus, and now that the world is sliding into recession they are no longer required. 

Wide macro vision

This example supports my claim that it is impossible to build only on industries whose main profit is when they are sold to foreign companies.

Planning the economic future of the State of Israel must have a broad macro vision, and a certain industry, as much as it grows and develops, cannot be the sole reserve for an entire economy.

First, it must be remembered that the real economy, which does not deal in "selling dreams" but in physical and usable production, develops a relatively higher resistance against economic crises, which, as mentioned, may always come.

The real economy takes care of developing issues and industries that have a long-term lifespan.

Another and important aspect is occupational diversity: economic planning that strives for financial and especially social stability must take into account the provision of employment for a variety of abilities in society so that as many households as possible can provide for their household members.

The third and last issue in proper economic planning is capital dispersion.

Only when there is a variety of occupation options and professional continuity is it possible to strive for and plan a more equitable distribution of capital.

A country that strives for economic stability and resilience cannot build only on this or that hi-tech or gas bonanza, but must make long-term planning for its economic future along with proper and equitable planning of its human capital.

And we must not forget that for our economic, social and nutritional security as a country, there is ultimately no substitute for local industry and agriculture.

The author is the Vice President of Business Development at Pah Tesh Company

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