Rimon Group CEO Credits Hardship for Risk-Taking Drive
Translated & summarized from TheMarker by baba
Yossi Elmalem, CEO of the Rimon Group, stated that significant past financial losses made him a risk-taking individual. The article also covers broader economic issues in Israel, including transportation failures and the job market.
The story in 5 lines · by baba
- Rimon Group CEO Elmalem attributes his risk-taking to past financial losses.
- He expressed shame over losing thousands of shekels.
- The article contrasts this with a generation averse to harsh work conditions.
- It also discusses Israel's failing transportation system.
- Other topics include investment opportunities and the job market.
Yossi Elmalem, CEO of the Rimon Group, revealed that significant financial losses he experienced, amounting to thousands of shekels, have profoundly shaped his approach to business. He admitted to feeling ashamed of these losses, stating he hadn't even disclosed them to his wife. This period of hardship, however, has instilled in him a relentless drive and a fearlessness towards taking calculated risks, transforming him into a 'hungry' individual.
Elmalem's perspective contrasts with a broader societal trend discussed in the article, where the younger generation is characterized as unwilling to endure 'slavery' in their work lives, despite not necessarily disliking work itself. This suggests a generational shift in expectations regarding employment conditions and work-life balance.
The article also touches upon various other economic and social topics, including the inefficiency of transportation in Israel despite substantial annual investment, the potential for investment in the Polish stock market, and guidance for Israeli investors on the S&P 500 and bank index ETFs. It further notes the recent fluctuations in the dollar/shekel exchange rate, reaching six-year highs, and explores the growth of an Israeli university collaborating with a major global company.
Additional segments discuss the cost of new apartments in Netanya, a dispute between partners over a specific deal, and the challenges faced by individuals seeking employment amidst widespread layoffs at companies like Wix. The piece also includes a quote about the feasibility of building new homes for those returning to kibbutzim, highlighting potential land scarcity. Finally, it reports on the substantial revenues and profits of Sunflour and the rapid advancements in AI technology.