The Fortress Masada

Masada is perhaps the second most famous Jewish site in Israel after the Western Wall in Jerusalem. Built by Herod the Great between 37 and 31 BCE, there were two immaculate palaces, fortified as a place of refuge for the monarch in times of crisis. During the Jewish Revolt in 66 CE, the fortress was seized by religious zealots (the Sicarii) who had fled from Jerusalem after the destruction of the Second Temple by the Romans. Not content with only near total victory, the Romans besieged Masada in order to crush the final resistance. 

After many weeks preparing for our fateful climb of Masada, the day of our accent was finally here. Early Wednesday morning, the team awoke after our only semi-restful night at the Bedouin tent. Arriving at the entrance to the Masada park, the group exited the vehicle, got fresh water, and then began the trek up the Snake Path - while two in the group - Kelly and Anne - opted to take the cable car. From the base to the guard tower at the top is a very steep (and winding) climb. It took us all between 25 and 40 minutes to make the journey. Steve blazed up the hill with me hot on his heels. I finished second in a little under 30 minutes. Getting to the top (and out of the heat) was definitely a great feeling!

At the top, we toured the site and saw the many restored buildings and landmarks. We walked through the Western and Northern Palaces, as well as visiting the storehouses and private baths. It is an impressive and very large site. It's also very cool to see in person. One thing we did learn from our guide was that the site is no longer used as prominently by the military as it once was. At the end of the story, the zealots of Masada killed themselves and their families rather than surrender to the Romans. This had previously been regarded as an honor worthy in the IDF - but now has been minimized to a great degree.

After finishing our tour of the site, we returned to the entrance to the cable car for the descent back to the bus and then off to our remaining visits of the day. Masada was definitely all its cracked up to be and the hike was a surefire highlight of the trip.

Galilee To Golan, pt1

Another weekend, another tour! Once again the Smith team was off to explore Israel. This weekend was one many of us had looked forward to from the very beginning. From start to finish, our three night trip was packed with activities, concluding late Monday evening.

Photo by Stephen Kushner

Early Friday morning, we left our house in Haifa for the trip east to the Galilee. Our first stop of the day was the city of Tsfat (also known as Safed), where we had a walking tour of the old quarter. Tsfat is one of the highest cities in Israel - and has been the capital of the Galilee region for many centuries. Interestingly, Tsfat is a city that wears many hats. It is a very religious city - and since the 16th century has been considered one of Judaism's Four Holy Cities, along with Jerusalem, Hebron and Tiberias. Most importantly, it is home to The Abuhav Synagogue (which we visited). More recently, Tsfat has also become known for burgeoning artist's colony that is located along its many dusty alleys.

For lunch many on the team (myself included) grabbed a bite to eat from an Yemenite Jewish food vendor. He and his wife were definitely characters - singing and having a great time - even as he prepared our food. The dish, lahuh, he served had a similarity (at least in shape, though not in flavor) to pizza - though the spices that he ladled liberally onto it had a tremendous kick. Quite possibly one of the spicier dishes I've ever had. It really took a long time for the heat to finally wear off.

After lunch we headed north and east from Tsfat for the Jordan River. Our next activity - and one that we were all pretty excited about - was a two hour rafting trip. Our group divided into a few separate rafts and rowed lazily down the currents. By the end we were all completely soaked. The river was definitely more akin to a stream (at least in comparison to the Potomac), but it was still a lot of fun.

From the rafting take out point we rejoined our tour guide, Meni, who took us to the final stop of the day, cycling in the Hula Valley. The Hula Valley is a gorgeous part of Israel. Focused almost entirely on agriculture - and formed after the Israeli government drained local swamps in the 1950s - the area lies in a depression between the Galilee to the west and the Golan to the east. The team arrived at a small nature reserve - collected rented bikes - and went for an hour long ride. Given the stifling heat, the bike ride was quite a work-out, albeit one everyone seemed to enjoy.

Photo by Kelley Harris

That evening we arrived at our lodgings for the weekend - the Ha'On Village - a tourism and resort kibbutz located on the southern shore of the Sea of Galilee. The place - though nice - had a decidedly 1970s vibe to it. The Lost fans among us all immediately commented that it looked like the Others village. That being said, we were all still pretty content!

Jerusalem Visit

After a day back in Haifa for our weekly class at the Technion, on Friday morning the Smith team was back on the road for a full weekend of touring and sightseeing. In the morning we were met by our guide, Israel, who gave us a preview of the days activities as we sped down the highway to our first stop of the day, Caesarea.

"Our guide Israel weaves a story about ancient Caesarea"
Photo by Kristin Thompson

Planted firmly against the coast, halfway between Haifa and Tel Aviv, Caesarea is an ancient port city that dates to the time of Herod the Great – about 22 BCE. The ancient city itself is no longer inhabited - as the last occupants, French crusaders under Louis IX - were forced to flee when the city was put to fire by Baybar invaders in 1251 CE. Literally lost to the sands, the city was rediscovered and its secrets uncovered in the 1940s due to the financial generosity of Baron Edmond Benjamin James de Rothschild.

"Modern concerts in Caesarea's ancient amphitheater"
Photo by Kristin Thompson

Our first stop in Caesarea was the Roman aqueduct that provided fresh water to the city for over a thousand years. From there we proceeded to the old city itself, where we visited the Roman theater, hippodrome, and palace (which was possibly the former residence of Pontius Pilate). As we walked back to the van, we passed through the city walls and across the moat, which were both constructed by the Crusaders. All in all, Caesarea was awesome!
 

"Driving through East Jerusalem"
Photo by Kristin Thompson

From Caesarea we drove directly on to Jerusalem. Since it was Friday, a lot of tourist sites were closing at sunset for Shabbat, so we were in quite a rush to get into town. We drove into the Old City and parked right next to the City of David – where the Biblical King built his palace and capital in 1000 BCE. The key attraction at this famous archaeological site is Hezekiah's Tunnel. This tunnel, which runs for a little under half a mile is filled with about three feet of water at all times. We walked (in my case barefoot) through the tunnel before emerging on the other side in East Jerusalem. Following our underground trek (which seemed to go on and on), we proceeded to the promenade overlooking the city.

"Looking out at Old Jerusalem from the Haas Promenade" 
Photo by Kelley Harris

We went next to our hotel for a brief rest before Shabbat dinner. Max and Sue Singer (parents of Saul Singer, the author of Start-up Nation) were kind enough to invite the entire Smith team into their home to participate in this weekly Jewish tradition. Dinner began with the serving of homemade challahs. Afterwords, this ritual was followed by Kiddush, the blessing of the wine. Max and Sue then led us through a number of other songs and readings before we finally began the meal in earnest. Altogether, everyone had a great time!
 

"Shabbat dinner with Max and Sue Singer"
 Photo by Stephen Kushner

In the preceding days, I had been coming down with a bit of a cold. A bug of some sort had been making its rounds around the team - and unfortunately my time arrived sometime late Friday night. I woke Saturday morning feeling pretty horrible - so somewhat reluctantly I opted to skip the tour that morning. I did get a pretty good report from the team later that evening though, when we all convened for dinner.
 

"Old Jerusalem near the Jaffa Gate" 
Photo by Kristin Thompson

On Saturday the group met our guide, Israel, at 9am in the hotel lobby. From there the group went to the Old City, this time for a more thorough tour of its many historical sites. The team walked the Via Dolorosa, visited the Church of the Holy Sepulchre, and shopped (and ate) in the Muristan Souq. From there they climbed the ramparts and walked the city walls, emerging just next to the Western Wall. The last stop of the afternoon was a short drive to the Mount of Olives – a site significant to both Jewish and Christian traditions.

"Fresh food at the always busy, Muristan Souq"
Photo by Kristin Thompson

I was feeling a bit better that evening so I opted to join everyone for dinner at Asher Epstein’s place. Altogether, the group was feeling pretty fired up about everything we’d seen and done so far this weekend. Additionally, this evening was especially important to everyone, as it was the England vs. USA World Cup match. Americans (myself included) have a funny habit of completely ignoring the sport of soccer (nee football) for 4 years and then suddenly remembering when the Cup comes around again. It may be the world’s sport, but it certainly isn’t America's sport. Anyway, the game started at 9:30pm, so many in the group decided to head to the The Lion’s Den pub to watch.
 

"Everyone celebrates as the USA battles back against England in the World Cup" 
Photo by Kristin Thompson

Ninety minutes later the game was over and we (the USA) had forced England to a 1-1 tie. I’ve read that this was a fantastic result – as everyone had expected England to prevail. That being said, I have a hard time getting excited about a tie game. I mean, really? A tie? I think this fact alone is what makes it so hard for Americans to get behind this game. Someone has to win. Without a winner, what’s the point?  

Anyway, one other cool outcome from the game: our esteemed photographer, Kristin had the previous photo featured in the Washington Post. Congrats, Kristin! All in all, Jerusalem was a blast! We got to see some fantastic historical sites, eat wonderful food, and watch the USA beat up on our cousins across the pond. It would be hard to ask for much more – well maybe the USA could have won rather than tied - but I digress.

Ethical Investing, pt2

In my previous blog post, I covered the first half of Rick Zitelman's presentation to the Technion Entrepreneurship Club on ethics and investing. After concluding his discussion of Jewish business ethics, Rick transitioned to a more general presentation on investing in Israel and investing overall. 

"Anne, Kelley, and Don chatting with Rick Zitelman"
Photo by Kristin Thompson

For many years, Rick has been an investor in companies - as a venture capitalist - as well as a principal advisor to other investors and investment firms. Further, he has been (and currently is) an investor in Israeli companies. As such, he has a wide range of hard won advice to offer to investors - especially those looking to invest in Israel.

In regards to investing in general, Rick offered nine "rules" to live by ...

• There is money and then there is SMART money.
• Smart investors invest in people - passion and potential are critical.
• Remember, it ALWAYS takes longer and costs more.
• It's better to have more capital than less.
• It's better to have a small piece of a big pie, than a big piece of a small pie.
• Protect your IP, but remember, it takes a lot of money and time.
• Play to your strengths and learn to work with your weaknesses.
• There are three types of investors: Lead, Co-, and Passive.
• Valuations are never easy. Take your time and do your homework.

As you can imagine, hearing Rick's thoughts about investing in Israel (specifically his views on the American perspective) was also of keen interest to the Israeli Technion students in the audience - especially those involved in high-tech start-ups - or those considering starting their own ventures. For them, Rick had a few key pieces of wisdom.

• Investors look for reasons not to invest. Don't let poor communication be why.
• Time differences can play havoc. Be prepared to work odd hours.
• When dealing with America, Shabbat removes a significant portion of the week.
• As a deal develops, it becomes good to have partners in both the US and Israel. 

Rick concluded his talk by discussing a final criteria for new ventures in Israel. According to Rick, the Israeli government's Office of Chief Scientist (as well as many other local incubators) offer lucrative sources of early stage financing. However, he indicated that investors and firms should really do their homework before signing onto one of these partnerships, as there are significant pros and cons to following this path. The avenues available for exit can narrow if a firm accepts investment from these entities.

Rick's talk was really well received. He offered both the Smith School and Technion students a great overview of Jewish business ethics, investing, and investing in Israel.

Ethical Investing, pt1

This past Wednesday, the Smith team had the opportunity to listen as one of our program's benefactors, Rick Zitelman, presented to the Technion Entrepreneurship Club. Rick - who maintains an apartment in Jerusalem - is in Israel for the next few weeks and took time out of his schedule to give a talk on three topics close to his heart, 1) business ethics from a Jewish perspective, 2) investing in Israel, and 3) investing in general. In fairness to the amount of information Rick covered, I'm splitting my coverage into two posts.

Owner and president of the The Zitelman Group (TZG), a Maryland merchant and investment bank, Rick has over 30+ years experience in the financial services sector. TZG provides asset management, investment and merchant banking, investment advisory and active investor services. Additionally, Rick is a principal at Valuation Services, a Washington, D.C. financial valuation firm. He speaks frequently on the topic of business ethics and corporate social responsibility. Further, Rick is a strong advocate for the University of Maryland, the Robert H. Smith School of Business, the Dingman Center for Entrepreneurship, Judaism and Israel.

The presentation kicked off with Rick leading a discussion on business ethics from a Jewish perspective. This topic was definitely of interest to our team - especially in light of the fact that we had all just completed Professor Lele's business ethics and social responsibility course this past term. As we came to find out, business ethics has long been considered an integral component of Jewish written law. From the Mishnah and Gemara to the Talmud and Mishneh Torah, all contain concrete advice on behavior in certain business situations.

"Individuals have a responsibility to conduct themselves in an honest and forthright way. Organizations, even while increasing profits, need to recognize some form of corporate social responsibility." - Business Ethics: A Jewish Perspective

Rick's presentation also incorporated a business case study as well. The meeting's participants (us included) broke out into separate groups and analyzed the case, as well as attempted to answer a few questions that had been provided.

"Rick Zitelman talks with an ethics breakout session"

Photo by Kristin Thompson

After a few minutes to confer with our group - and discuss the case in breakout sessions with Rick himself - he led us through a discussion of the case and possible options. Rick then supplemented this with the proscribed actions from a Jewish perspective. Altogether, it was definitely enlightening to explore and discuss this topic - and it helped us gain insight into an integral aspect of the Jewish and Israeli business mindset.