The Spiro Circle

In a world where AI is transforming industries, Israeli startup Verbit stands out by operating in the legal transcription space. Founded in 2017, Verbit has been at the forefront of AI-driven transcription and captioning, offering accuracy and insights.

Today, Verbit’s technology is tailored for the legal sector, a field that’s famously slow to innovate and that demands precision and accountability. By leveraging AI, the company provides real-time transcription services that help legal professionals navigate complex cases by acting as a ‘second chair’ in the room.

The platform, Legal Visor, can capture voice signatures and provide multilingual support, unlike generic transcription tools, and flag inconsistencies in testimonies.

The technology is also being used at The Peres Center for Peace and Innovation Visitor Center, which features subtitles in four languages ​​with transcription using Verbit’s AI-based technology.

The Impact of AI in Legal Transcription

The integration of AI in legal transcription has been a game-changer, but not without its complications. Verbit’s tools allow for real-time editing and insights, making it an invaluable asset in courtrooms and legal proceedings, but it never claims to make decisions on behalf of humans. The technology ensures that legal professionals can focus on their core responsibilities while AI handles the transcription with precision.

“It doesn’t make any decisions,” explained Amsterdam. “It only transcribes in real time and provides insights like a ‘second chair’. Everything is done by the lawyer. The tool has zero aspects of replacing the lawyer or [making] any decisions for the lawyer.”

As AI continues to evolve, Verbit remains committed to enhancing its offerings, ensuring that legal professionals have access to the best tools available. It’s a tool, Amsterdam claims, that beats out traditional transcription services.

“Zoom doesn’t let you edit in real time. It doesn’t let you have a voice signature,” he added. “It doesn’t let you do many things that this tool allows you to do. This is a professional transcription tool. And that’s why we see the users really vote for this kind of tool. So while I have a lot of respect for what Zoom, Teams, and the rest of the platforms are doing, it’s not good for a court use case.”

Beyond The Courtroom

We also spoke soon after the company announced an expansion of its dubbing offerings. Verbit Dub, in partnership with Deepdub, is designed to help content creators, broadcasters, and enterprises reach audiences worldwide — faster, at scale, and with more control than ever.

For the content creators and podcasters out there, it helps them expand globally while keeping up with production schedules. “With Verbit Dub, we give creators the freedom to choose the level of AI dubbing, human refinement, and studio production they need, whether they’re tapping into new markets or delivering fully localized cinematic content, said Doug Karlovits, General Manager at Verbit. “The dubbing suite is designed for control, speed, and expanding audience reach without compromise.”

Learn more about the tool in the video, and see for yourself how its Legal Visor can change the courtroom.

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When S Capital first backed Run:ai in 2018, there was no AI boom to ride. Large language models weren’t part of the mainstream vocabulary and ChatGPT was still far into the future. GPUs were powerful but inefficient, and the problem Run:ai set out to solve, orchestrating and optimizing GPU usage at scale, was largely invisible.

“The word of AI was not as it is considered today,” investor Aya Peterburg recalled. “No one knew to say even ‘LLM’ or what that means.”

Seen through that lens, NVIDIA’s ultimate 2024 acquisition of Run:ai was not a bet on hype, but the continuation of a strategy that began four years earlier with its purchase of Mellanox Technologies. It first embedded NVIDIA into Israel’s engineering ecosystem, anchoring its data-center, networking, and high-performance computing capabilities in the country.

Run:ai and others would then extend that footprint into the software layer that determines how AI actually runs at scale.

Together, the two acquisitions tell a coherent story: Israel is not just a distant satellite office for NVIDIA, but where some of its most critical infrastructure problems are solved.

Run:ai identified a structural inefficiency at the heart of AI computing. Companies were paying for expensive GPUs while extracting only a fraction of their potential. As Peterburg explained, customers were “pay[ing] more money to NVIDIA… but they got back in the day only 15% of what they paid for” because GPUs running large workloads couldn’t communicate efficiently.

The challenge was timing. “You couldn’t sell to startups as design partners,” Peterburg said. “You have to sell to those large organizations.” With no direct competitors and no clear market category, Run:ai had to wait for the AI world to grow into its necessity.

That patience required a specific kind of investor. “We see ourselves as helping them to understand what they have in their hand,” Peterburg said. “It’s the founders who will be able to tell the story.” For her, that partnership is built outside formalities. “I never learned something new in board meetings,” she added. “We sometimes do a lot of walks on the beach… it makes you think of problems differently.”

Like many companies in Israel, they faced a challenge during the war. Run:ai employees were called into reserve duty, some into active combat. Yet NVIDIA proceeded with the acquisition: a sign that its commitment to Israel is not contingent on stability, but on capability.

That commitment is bearing fruit with a new 10,000-employee campus in Kiryat Tivon and plenty more expansion in the future.

From Mellanox to Run:ai, NVIDIA has effectively stacked Israel into its core architecture: networking, hardware efficiency, and AI workload orchestration. For Peterburg, the lesson is clear. “As an investor, I believe that our role is being measured in the bad days,” she said. “Helping the founders find their way to a safe zone.”

Run:ai’s story shows what happens when that philosophy aligns with corporate strategy. Israel is no longer just a place where companies are built. As NVIDIA CEO Jensen Huang puts it, it is a “second home” where the future of global AI infrastructure is taking shape.

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Today’s episode looks at HS2 — the UK’s massive high-speed rail project that promised to connect London with major cities across the country.

HS2 was meant to boost economic growth, cut travel times, and modernize the transit network. Instead, it became a lightning rod for political debate: skyrocketing costs, environmental concerns, shifting government commitments, and fierce disagreement about whether the benefits justify the price.

For those who haven’t been following: In 2009, HS2 was sold as a £40 billion high-speed railway connecting the Northern cities of Leeds, York, and Manchester with Birmingham and London.

But almost 17 years later, the route will only be a fraction of the original, linking the suburbs of Birmingham with London.

According to the government, HS2 has already spent £40.5 billion in nominal prices, but once adjusted for inflation, financing costs, and subsidies, experts project HS2’s total cost will be significantly north of £100 billion.

The move from fixed-price contracts to cost-plus contracts has caused a 90% cost increase since 2020, allowing developers and contractors to profit enormously at taxpayers’ expense with an extraordinary human toll: 20,000 people were forcibly displaced from their homes and businesses, facing inadequate compensation and intimidation.

One of them is Michael Gross, a self-made real estate billionaire and founder of Sydney and London Properties. He owned the Euston Station estate when it was compulsorily purchased by HS2, making him the largest CPO claimant in British history.

Michael says he experienced firsthand how major institutions involved in the project tried to bury mistakes, silence criticism, and push ahead at any cost. Our talk begins by explaining what Michael lived through, what he tried to expose, and what his experience reveals about how billion-pound national projects can go wrong — and how ordinary people can get hurt along the way.

We then speak about what this means for the decline of the UK more generally. At the time of recording:

* Half of Britons support scrapping HS2 to plug budget shortfall - The Times

* UK unemployment rate rises to 5.1% - BBC News

* Its economy shrank unexpectedly, and GDP fell by 0.1% - The Guardian

* A net 110,000 British people aged 16 to 34 emigrated - The Telegraph

* 45% of Britons believe the UK is ‘an unsafe place for Jewish people’ - The Jewish Chronicle

Whether you’ve never heard of HS2 or think you already know the story, Michael’s perspective will make you rethink everything. And hearing what impact all of this is having on the future of the country will make you concerned for how we can ultimately turn things around.

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Recently, I spoke to Yonatan Sela, Partner at Square Peg.

Today, he invests in Israeli companies, but he used to be an entrepreneur and founder himself. Before Square Peg, Yonatan helped build YouNow into a consumer live-streaming platform; he co-founded Props, a decentralized protocol designed to give users ownership in consumer apps; and he worked across early-stage investing, consulting, and product leadership roles.

I could relate to that idea of ‘crossing the picket fence’ - starting your career in one area and then flipping it to the other. Before I was a journalist, I was in public relations; I can understand how those two worlds work together and complement each other.

In some ways, we are two of the same: not only do the investors and founders look for good stories, but the journalists and the public relations professionals also work on crafting stories for clients or tech companies.

“In my view, the personal story is the icing on the cake, and that can separate someone from a 9/10 to a 10/10 and touch emotionally in a deeper way,” said Sela. “I think the story must relate to tectonic shifts that are happening in the world.”

We also spoke about the Israeli tech scene more generally, and I really benefited from hearing his unique perspectives about it. Together, we explored the nuances of Startup Nation and the transformative power of storytelling in business. Specifically, Sela highlighted the innovative spirit that positions Israeli startups for success in the AI era - and the resilient qualities in local founders that are fostered in this unique environment.

“Because of the level of uncertainty you experience here, I think people are just better suited for that than most of their counterparts in other parts of the world,” he explained. “If you don’t know if you’re gonna live next week, of course, you operate differently than if you’re operating in a perfectly stable environment: If you don’t know if you need to get a funding round done before a war breaks out, you operate differently with a different sense of urgency.”

The resilience that Israelis demonstrated in these last few years has amounted to historic deals like the $32 billion acquisition deal between Google and Wiz, or the IPO for eToro. “The tech ecosystem held up during the war and came out a lot stronger. And I think there’s renewed interest from international investors in Israel,” Sela said.

I gleaned valuable insights hearing about Yonatan’s journey from entrepreneur to investor, and how it mirrored my own trajectory. For anyone navigating the tech landscape, you can watch the entire exchange in the video above.

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In today’s tech landscape, deeptech has emerged as a critical player in shaping the future.

To understand this better, I recently sat down with Doron Zauer, General Partner at Earth and Beyond Ventures. Together, we discussed the significance of deeptech and its growing influence, particularly in Israel and Startup Nation.

Deeptech refers to technologies based on significant scientific advances and engineering innovation. Unlike ‘traditional’ tech, which often focuses on software or consumer gadgets, deeptech leans heavily on core scientific concepts in areas such as quantum computing, biotech, spacetech, or materials science.

“There’s more demand around bandwidth, connectivity, energy, data storage, because of generative AI, ChatGPT, all those companies,” explained Zauer. “They need masses of electric power, processing power, and amounts of storage. At the end of the day, software sits on something; it sits on something physical and we’re really pushing the boundaries of what we’re demanding of software in other use cases such as driverless cars and connectivity in the areas of communications.”

For Zauer, the need for robust physical hardware is what will drive the call for these solutions. “It’s not as if we in Israel just came up with deeptech and decided it was a good thesis. Around the world, you can see more deeptech funds being raised, more allocations to deeptech from generalist funds. You can see all sorts of AI companies that are buying amounts of hardware and processing power because that’s what they know they’re going to need in the years to come.”

Zauer explained that deeptech companies possess a unique competitive advantage derived from their technologies, rather than just their business models. The fund invests at the early stage, and portfolio companies include QuamCore, Spiral Photonics, SkyPearl, and CoolVOC, among others.

The rise of deeptech was partly a response to the overvaluation of software companies during the tech boom, he claimed. As the market shifted towards a more substance-based approach, investors began prioritizing companies with sound business models and stronger advantages over their competitors. This shift has positioned deeptech as a vital sector for future investment and growth.

During our chat, Zauer highlighted various sectors that heavily utilize deeptech, including compute, climatetech, new energy, and defense. He also noted how even though Israel has long been recognized as a leader in sectors like cybersecurity and software, deeptech is equally critical to Israel’s future in the tech landscape.

“In terms of where the Israeli market is and how we’re bringing foreign investors… we’re not just selling specific technology, we’re selling the Israeli market,” he said. “We’re telling them that Israel’s open for business again. More open for business than it was before, because we never closed… We’re very optimistic. There are a lot of studies that show that economies come out of war and conflict bigger, better than ever.”

While software might dominate current investment trends, the balance is shifting, with more funds being allocated to hardware and deeptech solutions.

You can listen to all the insights in the conversation above.

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Exciting news has hit The Spiro Circle: We have partnered with Forbes to broadcast stories from Israel’s high-tech sector. We start with Salt Security. Meet Co-Founder and CEO Roey Eliyahu: he turned a meeting with Sam Altman into a $1.4 billion cyber company.

In 2016, Salt Security Co-founder and CEO Roey Eliyahu spotted a risk few others were focused on.

As the internet evolved and companies became increasingly dependent on APIs to power their digital services, he recognized that vulnerabilities hidden in those interfaces would soon become one of the most significant threats facing businesses across every sector.

Read the whole article on Forbes Israel…

You can watch the full discussion in the video above.

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In the evolving world of healthcare and pharmaceuticals, the intersection of AI and drug discovery has become a focal point for innovation - especially in Israel. This week, I spoke to AION Labs CEO Mati Gill, who shares insights on how the venture studio is transforming the landscape of drug development through collaboration and cutting-edge technology.

Founded by global pharmaceutical partners Pfizer, AstraZeneca, Merck, and Teva, AION Labs is located in Israel and leverages AI while fostering collaboration among legacy giants, emerging startups, and local government support.

Israel’s unique position as a center for biotech innovation is underscored by its scientific research capabilities and strong tech ecosystem. We discuss how the country’s rich history of Startup Nation and advancements in life sciences create an ideal environment for new ideas to flourish. The collaboration between academia and industry is paving the way for breakthroughs in drug discovery, positioning Israel as a key player in the global pharmaceutical landscape.

Learn more about them in the video above.

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This week, I spoke to Keshet CEO Maya Natan about Israel’s philanthropic efforts and how it helps citizens and corporations donate money and assets.

Keshet is a donor-advised fund that offers a wide range of services to facilitate philanthropic giving, including advisory, operational, and strategic services. In 2024, it reached NIS 880 million ($270 million) of assets managed, and helped 155 donors grant NIS 420 million to more than 1,100 Israeli organizations.

Our conversation explores the significant role of the civic sector in Israel following the events of October 7, highlighting how NGOs and philanthropy stepped up to support the nation during a time of crisis.

We also discuss the unprecedented financial contributions made to address urgent community needs and the impact of these efforts on the country’s recovery.

Some takeaways:

* The civic sector was crucial in supporting Israel post-October 7th.

* Individuals and NGOs filled the gaps left by the government.

* Philanthropy recognized the urgent need for support in Israel.

* There was a significant increase in financial contributions to NGOs.

* The response from the community was unprecedented in scale.

* Organizations mobilized quickly to address national needs.

* Collaboration between NGOs and individuals was vital.

Watch a preview here:

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In this episode, Founder and CEO of Foodini, Dylan McDonnell, shares his journey from being a corporate lawyer to founding a tech company focused on providing transparency in food ingredients for those with dietary restrictions.

There are 33 million Americans who live with a variety of dietary restrictions, whether it’s an allergy, a religious choice, or even women who are pregnant. Dylan himself has Celiac disease, an autoimmune condition where the immune system reacts to gluten, sometimes causing damage to the small intestine, along with 3.2 million Americans.

Foodini has created a Dietary Intelligence Platform that creates AI-driven ingredient transparency and tagging solutions for foodtech and hospitality, from dining rooms to stadiums. Its API helps large menu datasets and empowers food delivery and hospitality platforms to cater to diners with specific dietary needs.

Together, we discuss the challenges faced by individuals with food allergies, the tech behind Foodini, and the importance of compliance with food safety regulations.

Dylan also touches on the political landscape surrounding food safety legislation, such as the new California law requiring establishments with more than 20 locations to list all nine allergies. If you’re reading this from the EU, you might think it’s obvious that menus would list allergies, but no mandate in the US requires this. The California legislation may be the catalyst the country needs to expand that obligation to other US states, similar to how California copied Europe’s GDPR law with its own CCPA, only for it to trickle down into other states as well.

Finally, Dylan offers advice for aspiring founders looking to make a similar leap into entrepreneurship - something that resonated with me strongly due to my recent move from traditional media into a fully independent creator.

Highlights

* Dylan’s transition from a corporate lawyer to a foodtech entrepreneur.

* How Foodini addresses the lack of transparency in food ingredients by using AI to personalize dining experiences based on dietary needs.

* 33 million Americans have food allergies, highlighting a significant market.

* Lobbying for California’s new legislation, which may pave the way for more states to follow.

* Personalization is key to customer loyalty in the food industry, especially among those with allergies.

* The importance of passion in entrepreneurship.

You can learn more about Foodini here: https://foodini.co/

PREVIEW: Lobbying the American Political System: California food bill & MAHA

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I’ve been interested in deepfake technology recently.

We’ve all been exposed to it: fraudulent audio or video content usually created by AI. Our aunts and uncles might believe every meme they see on Facebook or other social media channels, but it can be a lot more nefarious.

Deepfakes can trick us into believing fake news, they can mimic our voices to trick banks or insurance companies, or they can create untrue documentation designed to destroy the reputation of politicians, business leaders, or celebrities.

But then there are more traditional use cases. This week, I spoke to Michael Matias, co-founder and CEO of Clarity. The AI cybersecurity startup protects against deepfakes, as well as new social engineering and phishing attack vectors in the context of recruitment: it makes sure that companies hire people who really are who they claim to be.

“You have nation states that are targeting enterprises in other states where they want to learn information, they want to steal money, they want to disrupt critical infrastructure,” Michael explained. “One of the reasons hiring fraud has become top of mind for many companies is that a lot of Fortune 500s over the last few months have discovered that they accidentally hired North Korean IT workers… Those specific talents did not disclose they were from North Korea, and they posed as US citizen employees earning critical access to sensitive information.”

This week, we discuss the evolution of deepfake technology and AI voice duplication, highlighting the advancements made in the last three years, basically when ChatGPT was launched.

This isn’t the first time that Michael and I have connected with a podcast. For a few years, I helped publish his podcast, 20 Minute Leaders on CTech - over the years we produced more than 100 episodes together.

It was a pleasure to speak with him today on my new platform. I hope you enjoy it.

Learn more about Clarity here: https://www.getclarity.ai/

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