Israeli Entrepreneur Raises $2 Million for 'Nothing'

'Chutzpah-filled Israeli, a lifelong entrepreneur and huge Seinfeld fan' doesn't describe the product or service he's raising money for.

Jerry Seinfeld
Jerry Seinfeld, whose 'show about nothing' was an inspiration to Itay Adam's presentation. AP

Itay Adam, an Israeli serial entrepreneur, raised $2 million from a group of overseas investors by presenting five slides but offering no idea for a product or service, Forbes magazine reports.

The fundraising pitch by Adam, whom the magazine described as a “chutzpah-filled Israeli, a lifelong entrepreneur and a huge Seinfeld fan,” consisted of 18 jokes, including one taken from the TV series announcing that “this is a show about nothing.”

“Nobody knows what the next big thing is going to be; it’s all just speculation,” Adam said. “My goal is to build a team of five to six people, all veterans with a proven track record, all over the age of 35, to create that next big thing, whatever it may be.”