On Friday morning, after arriving in Tel Aviv, we went directly to a meeting with one of the most esteemed - yet understated and humble - entrepreneurs in Israel, Yossi Vardi. Our meeting took place at a local primary school in Tel Aviv, where we had a brief, but rewarding conversation with Yossi. The school, which is government run, had been at risk of closure five years ago. However, with the help of Yossi and other generous benefactors, the school has prospered enormously - improving its performance across the board.
"Children playing at the local school sponsored by Yossi Vardi"
Photo by Stephen Kushner
Photo by Stephen Kushner
The school draws its students from both locals, as well as the children of foreign workers. Its student body is a veritable United Nations, with pupils from Africa, Asia, and South America. Unfortunately, many students are the sons and daughters of undocumented immigrants, and are at serious risk for deportation. This issue remains an enormous challenge and as such, Yossi and others are leading the charge to quickly and fairly address this issue by bringing their cause to the governments attention.
"Anne makes some new friends"
Photo by Kristin Thompson
Photo by Kristin Thompson
In many ways, Yossi is the consummate entrepreneur. Some might even call him Israel's Warren Buffett. Interestingly, I think Yossi is like Buffett - less because of investing - but more because both individuals come across as very down to earth and very connected to real life. To be sure, Yossi talked with us about key trends in the technology and internet markets. However, he made a serious (and well received) argument about social entrepreneurship as well. According to Yossi, incorporating social values significantly and measurably increases the overall value of a venture.
"The team shoots the breeze with Yossi Vardi"
Photo by Kristin Thompson
Photo by Kristin Thompson
At a conference in 2007, Yossi quoted Teddy Roosevelt - drawing a clear analogy between Roosevelt's speech and current entrepreneurs - which I think is worth sharing.
It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.
Yossi definitely has a presence - and though known for his lighthearted nature - can also be quite serious (as I think his words, deeds and actions reveal) when he needs to be. Over the course of our meeting we learned a little bit about Yossi's philosophy. Additionally, Yossi made a pretty compelling case for being involved in (and selecting) investment projects that fit the dual criteria of creating both social and economic value. All in all, it was a highly rewarding visit. For some additional commentary on our program from Yossi himself, there's a short video after the jump.
