“Is there such a thing as a good crisis?”

"The Greek word crisis has a few meanings: separate, decide and turning point. This illustrates well that even 3,000 years ago a crisis was viewed as a moment of truth,” noted Dina Pasca-Raz, Partner, Head of Technology at KPMG, at the Mind the Tech Conference in New York.

“The real challenge is deciding what should be kept and what should be tossed out, which is easier said than done. It is incredibly hard to let go of things in which you have invested much time, energy, talent or money.” Pasca-Raz then continued by connecting the challenge with the current climate. “Currently, founders need to question everything, and the mindset of growth at all costs is rapidly changing. Quality of growth should now be examined seeing as not all dollars are created equal.”

Answering the fundamental question of whether we are in a crisis, Pasca-Raz stated: “Are we in a financial crisis? I am not so sure. In Israeli tech there are many reasons for optimism. I will mention two: The growing alarm around environmental consideration is a huge opportunity for the vibrant scene of promising Israeli impact companies. Israeli tech has much to offer besides fintech and cyber. The second relates to HR, hiring and retaining talent has become practically mission impossible in 2020 and 2021. Tech companies will continue to play a major role in any equilibrium that will emerge.”

You can watch the full presentation in the video above.