The high-tech revolution is significantly different from the industrial revolution. When you talk about the global economy or technology, the model may involve, for example, product definition and innovation from the United States, engineering and development efforts could be done in Europe, and manufacturing could be performed in the Far East perhaps. So in that sense, it's very, very different, because a certain level of knowledge is moving from here to Israel, enabling the engineer to design the product, and then on to Japan, enabling them to make the product.
Now you have multinational companies opening offices in Israel and other places. They move people from location to location, who then return to Israel. And while they're here, they learn a lot of the discipline and the technology that they later on
back in Israel. We live in a very mobile world today and you can see this
; it's very good, because that's how knowledge, product development, and marketing ideas get transferred between people and help young companies become more successful.
People in Israel who work on a major project at Intel get the same training as they would in Santa Clara. So basically a company like Intel, Texas Instruments, or IBM that has research centers in Israel operates on a global basis. Every multinational company doing business in different countries and using the same standard that made them successful in those
helps bring the
from engineering, management, and marketing, which is very significant.
When you have American companies setting up in other countries, then they are tapping human resources, which can be very good. It can be cheaper. The Internet, networking, and
technology enable you to transfer files in a few minutes. Technological innovation enables all these things to happen. This is huge!