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Elevator Fund Internship 2014 – Third Week

Tel Aviv“How are you enjoying the war?” asked my boss with a big grin and a chuckle.  What war?  On the streets and beaches of Tel Aviv, it seemed to be business as usual: dog walkers, people watchers, and dedicated joggers.  Less than 40 miles south of Tel Aviv, in cities like Ashkelon, Ashdod, and Be’er Sheva, a very different reality was setting in.  Over 85 rockets had been fired into Southern Israeli cities by Hamas on July 7th from Gaza.  The barrage would not go unanswered.  By the morning of July 8th, Operation Protective Edge was in full swing.  The past few weeks have been an incredibly unique experience, full of insightful conversations, new friendships, and meaningful connections.

Watching the World Cup at the hostelWhen I first told my parents about the trip, they were reluctant.  “Why don’t you find something in D.C. or New York?”  They, like many Americans, were all too familiar with recent media coverage.  In a similar vein, Israelis often ask me “Why did you choose Israel?” The answer has two parts.  The first is my passion for entrepreneurship.  Israel is known as “Startup Nation,” with the most number of startups per capita and about 3% of their GDP attributed solely to startups (as of 2000).  Foreign investment, talented engineers, and a thriving entrepreneurial culture create a powerhouse for technological innovation.  The second part is a sense of wanderlust.  I believe it is essential to explore, travel, meet new people, and experience different cultures.  I must have told my parents, “It will be fine, I can take care of myself” several hundred times before the trip.  In all honesty, as I was sitting at the gate in Frankfurt waiting to board my connecting flight to Tel Aviv, there were some nerves.  It is so important, especially in today’s global economy, to be comfortable with being uncomfortable.

As unattractive as it sounds to live in a hostel for seven weeks, it has been one of the most rewarding parts of my experience so far.  Chef  Hostel is a small pink building situated in the heart of Tel Aviv – only two blocks from one of the busiest roads in Tel Aviv, Rothschild Boulevard, and a fifteen minute walk from the beach.  I’ve had the opportunity to meet so many different people from all over the world.  Hostel life is all about new friendships, making connections, and spontaneity.  One simple trick I’ve learned: talk to everyone.  People are predictable.  A smile and a “where are you from?” are all it takes to make a new friend.  The beauty of hostel life is that people open up very quickly – a few days of friendship at a hostel can feel like a few months of friendship back home.  Living long-term at a hostel can be bittersweet at times, too.  The friendships are fleeting – especially when most patrons only stay for a couple of days.

The office at ElevatorI currently intern at Elevator Fund, an investment vehicle for early-stage startups.  Work offers a much needed balance to Tel Aviv’s scorching beach fronts and vivacious nightlife.  Sometimes I forget that I’m not on vacation.  Our office is only a five minute walk from Chef Hostel – it’s sleek, modern, and feels a bit like a startup in and of itself.  There are five other interns in our office: four from the United States and one living in Israel who has recently completed his service in the IDF.  Over the past few weeks, I’ve done a bit of everything.  I’ve worked directly with Israeli startups on content, research, and strategy, as well as with Elevator on potential partnerships with large corporations.  Working at Elevator has provided me with a better understanding of Israel’s startup ecosystem as well as insight into the current situation in Israel.

In the weeks leading up to our departure date, news of the three missing Israeli teenagers made headlines around the world.  The news was unsettling, and reports that one of the teenagers was also an American citizen brought the story closer to home.  On June 30, after 18 days of searching, the bodies of the three boys were found.  The mood in Tel Aviv was somber as Israelis mourned the loss of the teens.

Missle Preparation FlyerFrom there, things transpired quickly.  In response to discovery of the bodies, Israel launched airstrikes on Gaza which were met with rockets fired into Israel by Hamas.  On July 2nd, a Palestinian teen was kidnapped and burned alive in what appeared to be a revenge killing.  As tensions rose, we were advised not to travel to Jerusalem by the U.S. Embassy because of riots and protests.  Israel’s crackdown on Hamas would eventually lead to Operation Protective Edge.  The morning of July 8th, our boss handed us packets titled “My family’s preparations in case of missile strikes,” which looked eerily similar to a pamphlet you might find about hurricane preparedness.  According to the packet, we have about 90 seconds to find shelter.  I didn’t think rockets would be an issue in the bustling metropolis that is Tel Aviv.  I was wrong.

The first rocket siren went off in Tel Aviv at 7:05 PM on July 8th.  I actually didn’t hear it.  We were out shopping on Allenby Street when one of our friends got a call from a relative.  We rushed back to the hostel and turned on the news.  A group of us – French, Germans, Americans, and Israelis – talked about what was happening.  Most were tense, but the Israelis insisted that everything was fine.  We later found out that the siren does not sound city-wide, but instead only  in neighborhoods in the path of the rocket.  There was also a lot of talk about the “Iron Dome,” Israel’s missile defense system.  The Iron Dome is designed to track, intercept, and destroy rockets heading towards populated areas.  The system prioritizes the rockets, and those heading towards open fields or unpopulated areas are not intercepted.

Bavarian business delegation at ElevatorThe first sirens I actually heard sounded off the next day while at the office.  The entire office hurried down into the building’s lower level.  Spirits were high, people were chatting, and after a few minutes everybody was back at their desks.  Over the next couple of weeks, these bomb shelter hangouts would become more and more common.  It’s the one time of the day everybody in the office is together, albeit just for a few minutes.  Discussion of current events is a daily ritual at the office and in the hostel.  The variety of perspectives has been enriching and the occasional argument is not uncommon.  It seems like everyone has something to say, and some opinions are more informed than others.

Since early July, rockets and sirens have become a regular interruption to daily activities.  There are usually one or two a day in Tel Aviv, and each time the routine is the same.  You run to a nearby shelter (be it an official city shelter, a restaurant, stairwell, etc), wait until you hear the “boom” of the interception – occasionally there are two or three, and then carry on with your day.  You’re supposed to wait up to 10 minutes after the sirens go off before venturing outside (in case of falling debris), but very few do.

One evening I was eating on a patio with some friends on Rothschild Boulevard, one of the main streets in Tel Aviv.  We looked up from our meals and saw an orange ball in the sky.  The rocket was too far away to trigger the siren, but close enough to see.  Suddenly, in a bright orange flash the ball was gone.  Another Iron Dome success.  Looking back, the situation was incredibly surreal.  The contrast between restaurant patrons enjoying dinner and rockets flying by is something I’ve grown accustomed to.  I have been strangely calm throughout the whole ordeal.  Maybe it’s the sense of security provided by the Iron Dome.  Or maybe it’s the man at Carmel Market who explained that this was just a part of life in Israel and there was nothing to worry about, a sentiment shared by almost every Israeli I’ve spoken to.  Those that are troubled are usually small business owners, like the owner of Chef Hostel, who are worried about the low levels of tourism in a month when business is usually bustling.  As the hostel owner put it, “there is no real rocket threat, the only real threat is that you get too burned from the sun and too full from hummus.”

The city has been especially quiet lately with the onset of the ground offensive in Gaza.  Thousands of Israelis have been called back to service, including several from our office.  In Israel, many are required to remain on reserve until the age of 40.  The juxtaposition of Tel Aviv’s vibrant nightlife and the war raging on farther south is strange at times.  With hundreds dead in Gaza and no immediate solution in sight, the situation appears to be quickly deteriorating.  Friends and family in the States often worry about what’s happening here, but in Tel Aviv, it seems, life goes on.

-Justin Lau

Elevator Fund Internship 2014 – Second Week

ElevatorI thought it was not possible to build upon the amount of new things I experienced from my first week, yet unbelievably my second week topped it. It was an interesting week being able to witness first-hand the conflict between Israel and Hamas. Hearing the sirens and explosions in the skies from the Iron Dome spurred a mixture of feelings from danger to curiosity. Although portions of the country have fallen into a state of unrest, the people, particularly in Tel Aviv, have reflected a different image:  locals walking their dogs, taking the bus, and sunbathing in the beaches. In other words, people continue with their everyday routine activities. These routines have reassured me that despite all the troubles, I should be safe if that is how the locals feel.

Prior to the mentioned incidents, I had got involved in Tel Aviv’s tenth annual “Water War,” with thousands of youths gathering at the Habima Square armed with water guns and overflowing buckets. It was an overwhelmingly fun event, strongly recommended to anyone who does visit the city during this time of the year. I also got to explore the wonders of the Carmel market, filled with cheap food stands to clothing sales, and local specialties like spices. On my latest visit, I even took the opportunity to test my Hebrew and negotiate for more reasonable prices on my fruit and vegetables. The friendly and approachable Israeli community encourages and rewards my efforts to integrate into the culture. Furthermore, relaxing on the beach at night while watching the World Cup games epitomizes why I made the right decision to come and explore Tel Aviv.

Tel Aviv MarketNevertheless, work continues as does life. One aspect of the Israeli culture to which I certainly need more time to adjust is the Hebrew calendar, where working days are from Sunday to Thursday, with Friday and Saturday being considered the weekend. Anyways, on Sunday, I was given the task of providing biographies of 28 professionals for a total of thirteen pages of research notes, needed within four hours. Although my fingers were exhausted afterwards, I felt like I had accomplished a worthy achievement.

My next project comprised of locating top Chinese internet companies relevant for the organisation to investigate, and my final main project was editing Elevator’s program schedule intended for its upcoming class of fresh new start-ups. Overall, the intensity of the work does not compare with last week’s workload as external distractions impacted slightly this week’s work hours. The main message for this week is that, regardless of what happens, work and life resumes; what matters is what will happen in the future opposed to what happened in the past.

This is an experience that will stick by me for the rest of my life. However, it is now time to absorb the experience, leave it behind and look forward to the rest of this adventure. Long live Tel Aviv’s joie de vivre! (French expression to enjoy life)

Chuk Chan (Jeffrey)

Reserve Bank of India – Second Week

A sweet, subtle petrichor suffused the Pune air, heralding the arrival of the much awaited monsoon. The monsoon has one of the most transformative effects on a landscape in the world, changing it from barren fields into a lush green carpet. Moreover, its arrival is eagerly anticipated across all social strata. In many respects the Indian economy relies wholeheartedly on weather that we very much take for granted back home. Though the monsoon has not yet built up to its notorious tumult, we have seen glimpses of its infamous power.

Undaunted, we ventured out from Pune towards Aurangabad on a 700 km whirlwind adventure, taking a path northeast of Pune deep into the heart of Maharashtra. On a winding and bumpy ride traversing ridges, earthen planes and sprawling metropolises, the threat of wayward bovine herds nonchalantly wandering down busy highways was a very real one. Forts, medieval walls and minarets sprung up out of the scrubland and stood dauntingly atop steep hills, dominating the skyline and presiding over the fields below. After stopping at Windsor Castle, the hotel at which we were staying, we again set off with the promise of caves and a very familiar building.

Set high in the hills, the monolith at the Ellora caves is truly a marvel of human dedication and determination. Created without modern machinery–just centuries of toil, architects, artisans and labourers–the magnificent rock structure emerges from the mountainside, adorned with images of deities, elephants, histories and stories. The other caves hosted a mixture of Buddhist and Hindu imagery, including an enormous effigy of Buddha with his usual peaceful countenance.

RBI Mountains Enhanced-300x224On the journey back, the bus driver pulled over to an isolated shop touting a frenzy of coloured marvels. With considerable excitement, we descended on a small fabric shop where haggled for and eventually purchased 10 pillowcases adorned with camels, elephants and landmarks, 5 scarves and a sari.

When we arrived back in the town of Aurangabad, we were taken to the, perhaps unfairly dubbed, ‘mini Taj Mahal.’ The real name is the Bibi Ka Maqbara and, in honesty, it is a rather impressive spectacle. It certainly scores highly on architectural marvel, but low on originality given the fact the actual Taj Mahal was built by his father some 40-50 years earlier.

That night, a brief respite from a heavily curry-based diet was granted by the kind chefs of the Windor Castle. Previously the only non-Indian food we had had was an enormous steak, lamb and chicken combination from the madhouse grill. After dinner, we enjoyed a fairly subdued night of card playing.

The next morning, three of our group were struck down with a mysterious illness, but they managed to rally for a second day of exploring caves, roads and monkeys. The Ajanta caves were discovered by a group of British soldiers who were on an excursion to hunt tigers. They came across a series of caves carved out of a horseshoe shaped hill. Built over two thousand years ago by Buddhists before the religion mysteriously left India to be replaced by Hinduism. Our group explored the valley and the wonders that lay within. The caves were a rich depiction full of colours and images of Buddha and his life including his many reincarnations.

Monkeys seem to be scattered fairly liberally around cave and religious sites. They look friendly from a distance but–as it transpires–they are mostly just thieves.