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The Israeli Tech Scene Has a Recruitment Problem

18 0 12
08.12.2021

As of the beginning of December, there were 77 Israeli-founded unicorn companies. Given that approximately 30 of these companies reached their “unicorn” status this year, we can speak of a massive boom in investments and fundraising in the Israeli tech scene.

For perspective, there are less than 1,000 unicorns worldwide — about 8% of which are Israeli, even though in many cases they have offices or even headquarters in the United States. In 2021, several Israeli unicorns went public, including the productivity management platform Monday, the digital transformation solution WalkMe, and several others, such as Payoneer, Taboola, SentinelOne, Talkspace, and Hippo.

So, what happened in 2021 and how are these changes affecting the tech job market? In my previous article — Why Are There So Many Israeli Unicorns? — I interviewed several industry experts about the reasons behind the recent boom in fundraising; in this article, I’ll be looking at its consequences.

24 Ice Cream Flavors

A recent parody video by Eretz Nehederet, the Israeli version of Saturday Night Live, mocked the Israeli tech scene by portraying a fast-paced start-up with a growth-obsessed CEO looking to fundraise for a non-existent product while desperately trying to hire talent in an ultra-competitive landscape.

Beyond being hilarious, the 7-minute clip, which you can watch here in Hebrew, sheds a light on the absurdities of the tech world. The CEO is so obsessed with growth and fundraising, that he loses track of what should be at the core of the company — the product.

The clip also mocks the plethora of perks that companies offer their employees in an attempt to attract the best candidates.........

© The Times of Israel (Blogs)


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