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An American venture capitalist says now is the time to bet big on Israel despite the country facing a multi-front war against Iran-backed terrorists in Gaza and Lebanon.

Aaron Kaplowitz, who founded 1948 Ventures only days after the deadly Oct. 7 Hamas terror attacks, invests in Israeli early-stage dual-use companies, firms that create technologies with both defense and civilian applications. 

When youre forced to find life-saving solutions in real-time, the battlefield becomes the ultimate sandbox for innovation, said Kaplowitz, who previously ran a state incentives program focused on attracting international companies to New York.

Kaplowitz’s faith in Israel comes as some tech entrepreneurs and investors in the so-called startup nation considered relocating to America as funding dried up in the wake of the massacre, as The Post previously reported. Others who previously made trips to Israels high-tech region known as Silicon Wadi canceled visits, sources said.

The best entrepreneurs arent admitting it to many people but theyre contemplating leaving, one gloomy venture capitalist told The Post just two weeks after the attacks.

Kaplowitz, however, pointed to the recent success of the US-funded and Israeli-developed Iron Dome, the missile defense system embedded with dual-use technology, as one of among many validations of his decision to plow money into Israeli companies at a time when most have backed off.

The Iron Dome worked to near-perfection in shooting down 99% of the roughly 300 missiles and drones fired at Israel by Iran on April 13.

The same predictive tech that determines if and when to fire interceptors at incoming enemy missiles is being used today to predict wildfires in Oregon, reduce energy costs in low-income California neighborhoods, and prevent power outages across New York, said Kaplowitz,  who has been involved in early-stage investments since 2015. 

Many of these companies will go on to save American lives, safeguard critical infrastructure, and create local jobs. 

Israel can sorely use the infusion of cash. The countrys economy has been battered by the war with the GDP tanking 19.4% in the fourth quarter of 2023.

Israels vibrant tech sector makes up nearly 20% of that figure. There are more VC firms per capita in Israel than anywhere in the world and most deals to invest in Israeli startups include US based investors, according to PitchBook.

The nation also has a track record of rebounding quickly after a conflict. 

Following Israels 2014 war in Gaza, its economy grew by 4% double the OECD average. And after its war with Hezbollah in 2006, the Jewish state saw a significant uptick in outside investment, some of which helped seed several game-changing companies. 

“I have great faith in the power of the Israeli startup, and I foresee a ‘startup boom,’ Avi Hasson, CEO of Start-Up Nation Central, said earlier this month at a conference in Tel Aviv. 

Kaplowitz said he quickly understood the need to inject capital into the Israeli startup ecosystem, which he referred to as the beating heart of Israels economy, after visiting the still-smoldering southern towns and kibbutzes on Oct. 18.

His other company the United States-Israel Business Alliance, an organization that specializes in bringing governors to Israel had arranged Gov. Hochuls solidarity mission to the region.

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Especially in the early days of the war, Israels economy was suffering, he said. In an instant, it felt like the entire hi-tech workforce put their out-of-office notifications on, closed their computers, and raced to the frontlines to defend their communities.

Seizing the opportunity to invest now in battle-tested technology at depressed valuations is one of the primary reasons Kaplowitz said he made the decision to launch Miami-based 1948 Ventures a nod to the year the state of Israel was established. 

After making two initial investments, 1948 Ventures is now in the process of raising $10 million to invest in a dozen additional companies that have undergone thorough due diligence. 

Kaplowitz claimed that each company his VC is targeting has the potential to be a game-changer in both the defense and commercial markets. 

Kaplowitz said he began researching the underlying vulnerabilities that Hamas had exploited by sending drones to drop grenades on the Israeli armys observation and communication systems on Oct. 7, allowing thousands of Gazan terrorists and civilians to storm across the border undeterred. 

He sensed that this catastrophic security failure opened the door to a more effective perimeter protection solution and decided that 1948s first investment would be in a startup that uses a disruptive software to detect wireless signals. 

Today, the IDF has integrated the companys technology to detect, classify and geolocate drones. 

I believe that on the other side of this punishing, existential war, Israel will emerge as the world leader in defense technologies for decades to come, he said.

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Biden Administration Strips Federal Funding From Nonprofit at Center of COVID Lab Leak Controversy

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Today, the Biden administration suspended federal funding to the scientific nonprofit whose research is at the center of credible theories that the COVID-19 pandemic was started via a lab leak at the Wuhan Institute of Virology.

This morning, the U.S. Department of Health and Human Services (HHS) announced that it was immediately suspending three grants provided to the New York-based nonprofit EcoHealth Alliance (EHA) as it starts the process of debarring the organization from receiving any federal funds.

“The immediate suspension of [EcoHealth Alliance] is necessary to protect the public interest and due to a cause of so serious or compelling a nature that it affects EHA’s present responsibility,” wrote HHS Deputy Secretary for Acquisitions Henrietta Brisbon in a memorandum signed this morning.

For years now, EcoHealth has generated immense controversy for its use of federal grant money to support gain-of-function research on bat coronaviruses at the Wuhan lab.

In a memo justifying its funding suspension, HHS said that EcoHealth had failed to properly monitor the work it was supporting at Wuhan. It also failed to properly report on the results of experiments showing that the hybrid viruses it was creating there had an improved ability to infect human cells.

Congressional Republicans leading an investigation into EcoHealth’s research in Wuhan, and the role it may have played in starting the pandemic via a lab leak, cheered HHS’s decision.

“EcoHealth facilitated gain-of-function research in Wuhan, China without proper oversight, willingly violated multiple requirements of its multimillion-dollar National Institutes of Health [NIH] grant, and apparently made false statements to the NIH,” said Rep. Brad Wenstrup (ROhio), chair of the House’s Select Subcommittee on the Coronavirus Pandemic in a statement. “These actions are wholly abhorrent, indefensible, and must be addressed with swift action.”

Beginning in 2014, EcoHealth received a grant from NIH’s National Institute of Allergies and Infectious Diseases (NIAID) to study bat coronavirus in China. Its initial scope of work involved collecting and cataloging viruses in the wild and studying them in the lab to spot which ones might be primed to “spillover” into humans and cause a pandemic.

Soon enough, EcoHealth used some of the viruses they’d collected to create “chimeric” or hybrid viruses that might be better able to infect human lung cells in genetically engineered (humanized) mice.

This so-called “gain-of-function” research has long been controversial for its potential to create deadly pandemic pathogens. In 2014, the Obama administration paused federal funding of gain-of-function research that might turn SARS, MERS, or flu viruses into more transmissible respiratory diseases in mammals.

In 2016, NIH flagged EcoHealth’s work as likely violating the 2014 pause.

EcoHealth President Peter Daszak argued to NIH at the time that the viruses his outfit was creating had not been proven to infect human cells and were genetically different enough from past pandemic viruses that they didn’t fall under the Obama administration pause.

NIH accepted this argument under the condition that EcoHealth immediately stop its work and notify the agency if any of its hybrid viruses did show increased viral growth in humanized mice.

But when these hybrid viruses did show increased viral growth in mice, EcoHealth did not immediately stop work or notify NIH. It instead waited until it submitted an annual progress report in 2018 to disclose the results of its experiments.

A second progress report that EcoHealth submitted in 2021, two years after its due date, also showed its hybrid viruses were demonstrating increased viral growth and enhanced lethality in humanized mice.

In testimony to the House’s coronavirus subcommittee earlier this month, Daszak claimed that EcoHealth attempted to report the results of its gain-of-function experiments on time in 2019, but was frozen out of NIH’s reporting system.

The HHS memo released today says a forensic investigation found no evidence that EcoHealth was locked out of NIH’s reporting system. The department also said that EcoHealth had failed to produce requested lab notes and other materials from the Wuhan lab detailing the work being done there and the lab’s biosafety conditions.

These all amount to violations of EcoHealth’s grant agreement and NIH grant policy, thus warranting debarment from future federal funds, reads the HHS memo.

That EcoHealth would be stripped of its federal funding shouldn’t come as too great a shock to anyone who watched Daszak’s congressional testimony from earlier this month. Even Democrats on the committee openly accused Daszak of being misleading about EcoHealth’s work and manipulating facts.

Rep. Raul Ruiz (DCalif.), the ranking Democrat on the House’s coronavirus subcommittee, welcomed EcoHealth’s suspension, saying in a press release that the nonprofit failed its “obligation to meet the utmost standards of transparency and accountability to the American public.”

An HHS Office of the Inspector General report from last year had already found that EcoHealth had failed to submit progress reports on time or effectively monitor its subgrantee, the Wuhan Institute of Virology.

When grilling Daszak, Democrats on the Coronavirus Subcommittee went to great lengths to not criticize NIH’s oversight of EcoHealth’s work. The HHS debarment memo likewise focuses only on EcoHealth’s failures to abide by NIH policy and its grant conditions.

Nevertheless, it seems pretty obvious that NIH was failing to abide by the 2014 pause on gain-of-function funding when it allowed EcoHealth to go ahead with creating hybrid coronaviruses under the condition that they stop if the viruses did prove more virulent.

NIH compounded that oversight failure by not stopping EcoHealth’s funding when the nonprofit did, in fact, create more virulent viruses, and not following up on a never-submitted progress report detailing more gain-of-function research until two years later.

The House Subcommittee’s investigation into NIH’s role in gain-of-function research at the Wuhan lab is ongoing. Tomorrow it will interview NIH Principal Deputy Director Lawerence Tabak. In June, it will interview former NIAID Director Anthony Fauci.

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Dogecoin Open Interest Hits Monthly Highs As Memecoin Gains In Market Rally, Analyst Forecasts 74-100% Jump

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Dogecoin DOGE/USD racked up impressive gains this week, prompting cryptocurrency analysts to raise their bullish expectations for the memecoin.

What Happened: A widely followed technical analyst, operating under the pseudonym World Of Charts, drew attention to DOGE's falling wedge pattern, which is typically construed by experts as bullish.

The analyst remarked, "On verge of another breakout expecting move towards 0.27-0.30$ in case of successful breakout." Notably, such a move would mean a 74-100% jump from the current prices.

Another prominent analyst, Kevin, gave more conservative estimates, flagging $0.18 and $0.22 as the next key levels for the coin.

"We need to hold this area on any potential back test and then .18 cents and the inverse head n shoulders target of .22 cents if right in reach," Kevin emphasized.

Why It Matters: DOGE has been energized by the "Roaring Kitty" phenomenon and the overall improvement in the market spurred by healthy macroeconomic data.

Since the start of the week, the king of meme coins has increased by 16%, with positive changes in several of its major parameters.

DOGE's Open Interest spiked 10.76% to $876 million in the last 24 hours, the highest in a month, according to Coinglass data. Additionally, its positive funding rate increased, signaling that most of the new positions created were gunning for DOGE's price pump.

Price Action: At the time of writing, DOGE was exchanging hands at $0.1556, following a 6.38% rise in the last 24 hours, according to data from Benzinga Pro.

Read Next: This Trader Sees A Barbell Portfolio Of BTC And Memes As Most Profitable Trading StrategyLoading… Loading… Market News and Data brought to you by Benzinga APIs

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Warren Buffett reveals secret $6.7B stake in insurer Chubb after slicing Apple

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Warren Buffett’s Berkshire Hathaway on Wednesday revealed a new, $6.72 billion stake in the insurer Chubb, confirming months of speculation that it had made a big new investment.

Berkshire owned 25.92 million Chubb shares as of March 31, according to a regulatory filing detailing Berkshire’s US-listed holdings as of that date.

The disclosure sent Chubb’s share price to a record high in after-hours trading, rising 6.3% to $268.96.

Shares often rise when Berkshire reveals new holdings, reflecting what investors believe is Buffett’s seal of approval.

“Chubb is an attractive equity investment for Berkshire because it operates in a business Berkshire knows well: property-casualty insurance,” Cathy Seifert, a CFRA Research analyst who covers Berkshire, said in an email.

Seifert would not speculate whether Berkshire might buy all of Chubb, but said Chubb’s focus on commercial lines specialty coverage and high-end homeowners’ protection would be a “good fit” in Berkshire’s insurance and reinsurance portfolio.

Berkshire ended March with $189 billion of cash and equivalents.

At Berkshire’s annual meeting on May 4, Buffett said the cash stake could reach $200 billion by June, and that cash looked “quite attractive” relative to high-priced stocks and in light of “what’s going on in the world.” Chubb and Berkshire did not immediately respond to requests for comment.

Berkshire began buying Chubb in last year’s third quarter, and had obtained Securities and Exchange Commission permission to temporarily keep its purchases confidential.

Buffett occasionally requests such permission to keep investors from piggybacking on him before he’s done buying.

In recent years, Berkshire obtained similar SEC permission for its investment in Chevron and former investments in Exxon Mobil, IBM and Verizon.

The Chubb investment was revealed 10 days after Berkshire unexpectedly disclosed it had sold about 115 million Apple shares in the first quarter.

That reduced its holdings in the iPhone maker to $135.4 billion, or 40% of its $335.9 billion equity portfolio.

Apple accounted for most of the $20 billion in stock that Berkshire sold in the first quarter.

Berkshire also pared holdings of several other stocks, including Louisiana Pacific and Sirius XM, and exited its investment in computer maker HP. It bought just $2.7 billion of stocks in the quarter.

Wednesday’s filing does not identify which investments were made by Buffett or his portfolio managers Todd Combs and Ted Weschler.

Buffett, 93, has run Berkshire since 1965.

The conglomerate also owns dozens of businesses including the Geico car insurer, BNSF railroad, energy and industrial companies, and consumer brands such as Benjamin Moore, Dairy Queen, Duracell, Fruit of the Loom and See’s Candies.

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