📈Our WYNDEX (What’s Your Number Index) update for today:

WYNdex is back with a whopping 5.56% green performance, outperforming both S&P and NASDAQ by 4.59 and 4.71% respectively. Elbit, NOVA, Lemonade, and PANW in the green. EToro, FIVERR, and WIX in the red.

🔎Our Long Play today is a conversation with Ariel Karlinsky. Ariel, who’s a PhD student at Hebrew University’s economics department and the Center for the Study of Rationality, has recently co-authored a paper thoroughly examining how different populations in Israel engage with the welfare state. What makes a segment of the population a net contributor versus net dependent? His study reveals a stark reality: under the hood of Israel’s seemingly-robust economy there are actually 3 different economies: while one is highly productive and prosperous by first world standards, the other two resemble the developing world. Ariel, Yonatan, and Yael discuss: how did Israel get here? What happens if the incentives don’t change? And can Israel make the necessary reforms?

Read the paper here. On Taxes and Wonders: Complete Fiscal Accounts at the Household Level in Israel, published in the Israeli Economic Review, authored by Ariel Karlinsky, Tom Sadeh, Eran Yogev & Michael Sarel (2025).
 

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A little bit of housekeeping:

Michal is away for the month of January. In her stead, Yonatan will be joined by the incomparable Yael Wissner-Levy, Chief Communications Officer at Tenzai, as co-host.

New episodes drop on Wednesdays

LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

CREDITS:

Hosts - YONATAN ADIRI & YAEL WISSNER-LEVY

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Production Manager - BRITTANY COHEN

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION

Our Long Play today is a conversation with Daniel Schreiber. In addition to being the co-founder and CEO of Lemonade, Daniel is the Founder and Chairman of the Mosaic Institute for AI Policy, an Israel-based nonprofit aiming to ensure that the AI revolution will be harnessed to shore up and grow the economy, rather than destroy it. With a look at history, Daniel, Yael, and Yonatan discuss how a future Israel economy might fare in an automated world between the risks of massive workforce displacement and the potential of turbocharged productivity.

Michal is away for the month of January. In her stead, Yonatan will be joined by Yael Wissner-Levy, Chief Communications Officer at Tenzai, as co-host.

LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

CREDITS:

Hosts - YONATAN ADIRI and MICHAL LEV-RAM

Guest host: YAEL WISSNER-LEVY

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Production Manager - BRITTANY COHEN

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION

Find us on:

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📸 Instagram

💼 LinkedIn

𝕏 Michal on X

𝕏 Yonatan on X

📩 Write to us here

📈Our WYNDEX update for today:

It’s our last WYNDEX update of the year! On that note, here is our year-to-date comparison: 

WYNDEX - 20.78%

S&P - 15.77%

NASDAQ - 20.12%

Our best performers of the year were:

Lemonade with 125%

Elbit with almost 100%

Nova measurements up 64% 

TEVA up 24% (and is now a $35B company)

However, our WYN “babies” - the newcomers - were down for the year:

Etoro (~46% in the red) 

Via (32.74%).

Monday.com (35%) 

WIX was cut in half…

🔎And our Long Play today is a conversation with friend of the show investor Michael Eisenberg to talk about a recent piece he wrote in SAPIR Journal titled “Building Israel’s Trillion Dollar Economy.” Michael’s core argument is that Israel can (and must) double its GDP over the next 10 years, but that the growth drivers that got the economy to its current point won’t be enough to get it to this next milestone. We speak to Michael about his proposals and how he thinks Israel can continue to grow in the future. (And for more, please see the link to his article in SAPIR here: https://sapirjournal.org/money/2025/building-israels-trillion-dollar-economy/)

📅 New episodes drop every Wednesday

What’s Your Number? is hosted from Tel Aviv and Silicon Valley by Yonatan Adiri — Israeli entrepreneur and former advisor to President Shimon Peres — and Michal Lev-Ram, Israeli-born Silicon Valley-based tech journalist and contributing editor at Fortune. Together, they unpack the headlines, trends, and data driving Israel’s  economy and its future. 

⚖️ LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

🎧 CREDITS:

Hosts - YONATAN ADIRI and MICHAL LEV-RAM

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Production Manager - BRITTANY COHEN

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION

Find us on:

📺 YouTube

📸 Instagram

💼 LinkedIn

𝕏 Michal on X

𝕏 Yonatan on X

📩 Write to us here

📈Our WYNDEX update for today:

The WYNDEX is down .8%, almost in line with the S&P and showing better performance than NASDAQ by 1.07%. Notable in the green this week is defense giant ELBIT with a 6.3% rise, completing a 99.5% increase year-to-date and trading at a $24 billion market cap. In the red we have ZIM, which continues to lose steam as it struggles to find a suitable acquirer, and eToro, which closed the week down 11.76% (40% below its IPO number). 

🔎And our Long Play today is a conversation with Natti Ginor, head of Israel Investment Banking at Jefferies. Last month, the investment firm - which is very active in the country - published a year-end report on the Israeli market called “Next-Gen Middle East: Israel’s role in shaping a tech future.” In this episode, we ask Natti to share some of the highlights of the report, giving listeners a snapshot not just of tech but overall market & economic fundamentals in Israel over the last year. 

📅 New episodes drop every Wednesday

What’s Your Number? is hosted from Tel Aviv and Silicon Valley by Yonatan Adiri — Israeli entrepreneur and former advisor to President Shimon Peres — and Michal Lev-Ram, Israeli-born Silicon Valley-based tech journalist and contributing editor at Fortune. Together, they unpack the headlines, trends, and data driving Israel’s  economy and its future. 

⚖️ LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

🎧 CREDITS:

Hosts - YONATAN ADIRI and MICHAL LEV-RAM

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION

Find us on:

📺 YouTube

📸 Instagram

💼 LinkedIn

𝕏 Michal on X

𝕏 Yonatan on X

📩 Write to us here

📈Our WYNDEX update for today:

The WYNDEX is back in the green for a second week in a row, up 3.29%, to be exact. That puts it ahead of both the S&P and NASDAQ (0.69 and 1.39%, respectively). Monday.com made a 9.09% jump back up after December 4th Guggenheim report with a Strong BUY ($250 target price). In the red is ZIM, which shed ~2% with a takeover bid by German Giant Hapag Lloyd competing with the Unger/management buyout offer which seems to lowball the market perception. Two cyber companies, Varonis and Sentinel One, were also down.

🎯Our Big Shorts for today:

• German Chancellor Friedrich Merz visited Israel this week. The European leader met with Prime Minister Netanyahu and other senior Israeli officials, and also spoke about that temporary & partial arms embargo on Israel, which Germany lifted last month once the ceasefire was in effect. We unpack the visit from this key partner.
• Eurovision decision: A decision has been made to allow Israel to stay in the 2026 competition. But several countries (including Spain, Ireland, the Netherlands) subsequently said they would boycott the competition as a result. What does this mean for Israeli isolation vs. integration as we move forward, and beyond the Eurovision itself?

🔎And our Long Play today is focused on Israel’s 2026 budget, which was passed by the cabinet just a few days ago. We’ll go over what you need to know - what’s in, what’s out, what’s controversial, etc. And what the next steps are for the budget. 

📅 New episodes drop every Wednesday

What’s Your Number? is hosted from Tel Aviv and Silicon Valley by Yonatan Adiri — Israeli entrepreneur and former advisor to President Shimon Peres — and Michal Lev-Ram, Israeli-born Silicon Valley-based tech journalist and contributing editor at Fortune. Together, they unpack the headlines, trends, and data driving Israel’s  economy and its future. 

⚖️ LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

🎧 CREDITS:

Hosts - YONATAN ADIRI and MICHAL LEV-RAM

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION

Find us on:

📺 YouTube

📸 Instagram

💼 LinkedIn

𝕏 Michal on X

𝕏 Yonatan on X

📩 Write to us here

📈Our WYNDEX update for today:

The WYNDEX bounced back 4.85% last week, beating both NASDAQ and S&P which were also in the green with a 3.20% and 3.93% rise, respectively. Notable stocks were Palo Alto Networks, which bounced back almost 4% alongside ZIM (+20%) and Lemonade (16%). The most interesting mover in this week’s WYNDEX was pharma giant TEVA with 11.07%. This was thanks to clinical approval of two biosimilar drugs the company can now bring to the market.

🔎Our Long Play today is an interview with Seth Siegel, a guest whose work has become essential reading for anyone trying to understand the future of water in the Middle East. Seth is a leading voice on water policy and innovation, and the author of several best-selling books, including Let There Be Water, the definitive account of how Israel became a global model for water management. He recently wrote an op-ed in the WSJ about Iran’s escalating water crisis and the role its hatred of Israel has played in bringing it to this moment. We talk to him about how water - perhaps more than any other resource - plays a critical role in the Middle East’s economic trajectory, and new innovations coming out of Israel. 

Here is the link to Seth’s recent op-ed in the WSJ: https://www.wsj.com/opinion/hatred-of-israel-caused-irans-water-crisis-4e566bac

And here is a link to his book, Let There Be Water: 

https://www.amazon.com/Let-There-Be-Water-Water-Starved/dp/1250115566

📅 New episodes drop every Wednesday

What’s Your Number? is hosted from Tel Aviv and Silicon Valley by Yonatan Adiri — Israeli entrepreneur and former advisor to President Shimon Peres — and Michal Lev-Ram, Israeli-born Silicon Valley-based tech journalist and contributing editor at Fortune. Together, they unpack the headlines, trends, and data driving Israel’s  economy and its future. 

⚖️ LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

🎧 CREDITS:

Hosts - YONATAN ADIRI and MICHAL LEV-RAM

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION

Find us on:

📺 YouTube

📸 Instagram

💼 LinkedIn

𝕏 Michal on X

𝕏 Yonatan on X

📩 Write to us here

📈Our WYNDEX update for today:

Not a good week for the WYNDEX! While the S&P and NASDAQ were also in the red last week (1.65% and 2.2%, respectively), the WYNDEX shed 7.7%. Some highlights: Palo Alto Networks lost 10.8% as the market did not react well to the cyber player’s acquisition of Chronosphere, and WIX and Monday.com shares were also down… no big moves in the green, sadly. 

🔎Our Long Play today is… a panel conversation that took place at the recent Z3 conference in Palo Alto, a one-day event that delves into world Jewry and Israel and the relationship between the two. There were lots of important conversations that took place at the conference… this one was about the economic relationship between the U.S. and Israel and how it’s changed over the last couple of years, plus of course what comes next. Speakers were: Omer Fein, Chief Economic Consul to the Western United States; Joy Sisisky, president and CEO of the Jewish Community Federation Bay Area; and Shaun Maguire, partner at Sequoia Capital. 

📅 New episodes drop every Wednesday

What’s Your Number? is hosted from Tel Aviv and Silicon Valley by Yonatan Adiri — Israeli entrepreneur and former advisor to President Shimon Peres — and Michal Lev-Ram, Israeli-born Silicon Valley-based tech journalist and contributing editor at Fortune. Together, they unpack the headlines, trends, and data driving Israel’s  economy and its future. 

⚖️ LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

🎧 CREDITS:

Hosts - YONATAN ADIRI and MICHAL LEV-RAM

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION

Find us on:

📺 YouTube

📸 Instagram

💼 LinkedIn

𝕏 Michal on X

𝕏 Yonatan on X

📩 Write to us here

📈Our WYNDEX update for today:

We’re seeing mixed signals for the WYNDEX this week. The index shed 1.53% beating NASDAQ by almost 0.5% but falling below S&P by 0.77%. In the green: Pluristem (the carrot protein drug developer we discussed in the past) tops the flock with a 17.33% rise. Another notable climb was registered by the 2025 joiner, E-Toro with a 16.11% climb. In the red: We continue to see tough sentiment for Monday.com, which shed 15% on the week, 45% from its 2025 peak and ~25% year-to-date. Another 2025 Wyndex joiner, Via, shed 13.5% this week, falling below its IPO price. 

🔎And our Long Play today is a conversation with Yevgeny Dibrov, cofounder and CEO of cyber company Armis, which just raised a $435 million pre-IPO funding round at a valuation of $6.1 billion. Yevgeny worked with the Wiz team at their first company, Adallom, which was bought by Microsoft. He started Armis about ten years ago and today it’s one of the most highly valued Israeli-founded cyber startups… we’ll talk to him about the state of Israeli cyber + why more companies in the space don’t make it all the way to an IPO.  

📅 New episodes drop every Wednesday

What’s Your Number? is hosted from Tel Aviv and Silicon Valley by Yonatan Adiri — Israeli entrepreneur and former advisor to President Shimon Peres — and Michal Lev-Ram, Israeli-born Silicon Valley-based tech journalist and contributing editor at Fortune. Together, they unpack the headlines, trends, and data driving Israel’s  economy and its future. 

⚖️ LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

🎧 CREDITS:

Hosts - YONATAN ADIRI and MICHAL LEV-RAM

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION

Find us on:

📺 YouTube

📸 Instagram

💼 LinkedIn

𝕏 Michal on X

𝕏 Yonatan on X

📩 Write to us here

📈Our WYNDEX update for today:

It was a tough week all around. The NASDAQ and S&P shed some serious AI market cap and while WYNDEX was in the red - though it significantly outperformed both NASDAQ and S&P. In numbers: NASDAQ lost 3.96% and S&P lost 2.23%, while the WYNDEX lost 1.26%. That’s 2.7% better than NASDAQ and 0.97% compared to the S&P.

🎯Our Big Shorts for today:

• India and Israel sign defense MOU: India will reportedly acquire missile systems from Israel Aerospace Industries (IAI) for $3.75B, and IAI will convert six commercial planes into Indian Air Force refueling aircraft. 
• A Goldman Sachs report, published after the ceasefire went into effect last month, is (cautiously) optimistic on economic growth in Israel, largely due to an easing of labor market constraints. We dive into the numbers from the report…

🔎And our Long Play today is a look at the AI bubble - which is not quite bursting but showing some cracks (some are calling it a “wobble”) - and what Israel’s exposure is if we see a broader/deeper correction take place in both public and private market valuations. 

📅 New episodes drop every Wednesday

What’s Your Number? is hosted from Tel Aviv and Silicon Valley by Yonatan Adiri — Israeli entrepreneur and former advisor to President Shimon Peres — and Michal Lev-Ram, Israeli-born Silicon Valley-based tech journalist and contributing editor at Fortune. Together, they unpack the headlines, trends, and data driving Israel’s  economy and its future. 

⚖️ LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

🎧 CREDITS:

Hosts - YONATAN ADIRI and MICHAL LEV-RAM

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION

Find us on:

📺 YouTube

📸 Instagram

💼 LinkedIn

𝕏 Michal on X

𝕏 Yonatan on X

📩 Write to us here

📈Our WYNDEX update for today:

The WYNDEX is back in the green this week: 0.82% to be exact, slightly (0.02%) above the NASDAQ and 0.9% above the S&P. In the green is the Israeli direct-to-consumer digital gang, including Monday.com, Global E, and Wix, with Lemonade topping the chart at 15.23% increase for the week ending on November 1st. In the red, we have one of Israel’s top cyber companies, Varonis, shedding 43.5%. The company published disappointing third-quarter results and sharply lowered its guidance for the full year, which triggered a strong investor backlash. 

🔎Our Long Play today is: An interview with Hila Haddad, an aerospace engineer and entrepreneur who has worked on various defense and infrastructure projects in Israel. We speak with Hila about Israel’s space program and its strengths and weaknesses, the innovation coming from the private sector, and why space is so critical to national security. 

📅 New episodes drop every Wednesday

What’s Your Number? is hosted from Tel Aviv and Silicon Valley by Yonatan Adiri — Israeli entrepreneur and former advisor to President Shimon Peres — and Michal Lev-Ram, Israeli-born Silicon Valley-based tech journalist and contributing editor at Fortune. Together, they unpack the headlines, trends, and data driving Israel’s  economy and its future. 

⚖️ LEGAL DISCLAIMER

This podcast offers general business and economic information and is not a comprehensive summary for investment decisions. It does not recommend or solicit any investment strategy or security. 

🎧 CREDITS:

Hosts - YONATAN ADIRI and MICHAL LEV-RAM

Executive Producer - ADAAM JAMES LEVIN-AREDDY

Sound and Video editing - MARTIN HUERGO

Music - MIDNIGHT GENERATION