“Deep tech will not be distributed evenly. The ingredients you need to build a deep tech ecosystem are research and academic centers of excellence, a defense industry, a semiconductor industry, an optics industry, and an RF industry. If you exclude China, which you have to geopolitically, that combination exists nowhere in the world other than Israel. Our view is that Israel will punch well above its weight in company creation.”

“A decade ago, programs to reward researchers for submitting software vulnerability findings were just starting to go mainstream. Vulnerability disclosure and “bug bounty” programs represented a paradigm shift years in the making—moving institutions from hostility and defensiveness about security research findings to acknowledgement that receiving input and releasing fixes was necessary. When Apple finally announced a bug bounty in 2016, the top reward was $200,000. It rose to $1 million in 2019 and $2 million last year. But all of that is about to change again.

As agentic AI models become more adept at both autonomously identifying software vulnerabilities and developing exploits for them—in other words, identifying weaknesses and creating hacking tools—vulnerability disclosure programs are being flooded just as organizations are finding more bugs than ever themselves. This abundance is changing the economics of bug bounties for both institutions soliciting submissions and researchers, some of whom currently make a living or supplement their income with bug hunting. And, crucially, the field is changing in lockstep for attackers, too.”