What's Your Number?

Please take 5 minutes to fill out What's Your Number's LISTENER SURVEY to help us level up the show. We'll catch you next week. __________ 📈 Our WYNDEX (What’s Your Number Index) update for today: The WYNDEX fell 3.38% this week, underperforming U.S. markets as the SaaS selloff deepened. Cyber stocks reacted sharply to new AI-driven security tools, raising disruption concerns, while ZIM surged on acquisition news. Yonatan and Yael break down what the “SaaSpocalypse” means for Israeli tech and the broader market. 🔎 Our Long Play today features Ami Daniel, co-founder and CEO of Windward, to discuss how maritime intelligence has become central to today’s geopolitical tensions. From the rise of Russia’s “dark fleet” and Iranian threats to global shipping routes to the ZIM acquisition and the role of AI in defense tech, Ami explains why control of the seas is increasingly shaping global power. In this episode: 0:00 Numbers of the Week 4:00 The Wyndex 8:20 Big Short #1: Palmer Luckey’s secret Israel visit 11:30 Big Short #2: India–Israel strategic partnership expands 14:00 Long Play: Ami Daniel on maritime intelligence and geopolitics 39:00 Words of the Week Find us on: YouTube Instagram LinkedIn Yael on X Yonatan on X Write to us here 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 Community Manager - AVA WEINER Sound and Video editing - MARTIN HUERGO AND PATRICIO SPADAVECCHIA Music - MIDNIGHT GENERATION

📈 Our WYNDEX (What’s Your Number Index) update for today:The WYNDEX had its worst week since launch, falling 5.41% and underperforming both the S&P and the NASDAQ. Yonatan and Yael break down why Israeli SaaS names were hit hardest, how AI is accelerating a credibility reset across software markets, and why biotech emerged as a rare bright spot amid the selloff.🔎 Our Long Play today Yael and Yonatan examine the growing rivalry between Saudi Arabia and the UAE and how it may define the economic future of the Middle East. As MBS’s Vision 2030 fails to meet its KPIs, Abu Dhabi has been quietly building power through capital, energy infrastructure, and global partnerships. From India and Central Asia to gas pipelines and ports, Yael and Yonatan follow the money to explain what this strategic shift means for Israel’s economic future, regional influence, and the limits of headline diplomacy.Also, a bit of housekeeping: On a bittersweet note, Michal Lev-Ram, who launched WYN with Yonatan, has accepted a role at Morgan Stanley and will step down as co-host. Michal joins Yonatan today to pass the torch to Yael, who'll take over as our official co-host.In this episode: 00:00 - Numbers of the Week 05:53 - The WYNDEX 11:16 - Big Short #1: Netafim and Chinese capital 14:47 - Big Short #2: Israel’s airspace crunch and El Al’s fine 19:10 - Long Play: Saudi Arabia vs. the UAE and the real power map of the region 33:23 - Words of the WeekFind us on:YouTubeInstagramLinkedInYael on XYonatan on XWrite to us hereNew episodes drop on WednesdaysLEGAL DISCLAIMERThis 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-LEVYExecutive Producer - ADAAM JAMES LEVIN-AREDDYProduction Manager - BRITTANY COHENCommunity Manager - AVA WEINERSound and Video editing - MARTIN HUERGO AND PATRICIO SPADAVECCHIAMusic - MIDNIGHT GENERATION

📈Our WYNDEX (What’s Your Number Index) update for today:Markets moved higher this week, with the S&P up 0.73% and the NASDAQ up 1.55%, but the WYNDEX moved in the opposite direction, slipping 0.97%. Still, as January wraps up, the WYNDEX remains ahead, up 2.61% YTD compared to 1.12% for the NASDAQ and 1.02% for the S&P.🔎 Our Long Play today takes a deep dive into Israel Aerospace Industries and the bigger question it raises about defense tech, ownership, and growth. Yael and Yonatan are joined by Natti Ginor, Managing Director and Head of Israel Investment Banking at Jefferies, to unpack reports that Israel Aerospace Industries is exploring an IPO. They explore IAI’s unique role as a government-owned defense giant, what going public would actually require, how global investors view Israeli defense tech, and who stands to win or lose if one of Israel’s most strategic companies makes the leap to the public markets.This episode was sponsored by SAPIR: Sign up for the SAPIR journal at sapirjournal.org/whatsyournumber01:12 – Numbers of the Week03:43 – The Wyndex05:21 – Big Short #1: Wix and the AI Talent Narrative08:12 – Big Short #2: Lemonade, Tesla, and AI-Driven Insurance10:56 – Long Play: Natti Ginor on Israel Aerospace Industries and a Potential IPO35:12 – Words of the WeekFind us on:YouTubeInstagramLinkedInYael on XYonatan on XWrite to us hereA 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 WednesdaysLEGAL DISCLAIMERThis 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-LEVYExecutive Producer - ADAAM JAMES LEVIN-AREDDYProduction Manager - BRITTANY COHENSound and Video editing - MARTIN HUERGOMusic - MIDNIGHT GENERATION

📈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). Find us on:YouTubeInstagramLinkedInMichal on XYonatan on XWrite to us hereA 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 WednesdaysLEGAL DISCLAIMERThis 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-LEVYExecutive Producer - ADAAM JAMES LEVIN-AREDDYProduction Manager - BRITTANY COHENSound and Video editing - MARTIN HUERGOMusic - MIDNIGHT GENERATION

Find us on:📺 YouTube📸 Instagram💼 LinkedIn𝕏 Michal on X𝕏 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 WednesdayWhat’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 DISCLAIMERThis 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-RAMExecutive Producer - ADAAM JAMES LEVIN-AREDDYProduction Manager - BRITTANY COHENSound and Video editing - MARTIN HUERGOMusic - MIDNIGHT GENERATION

Find us on:📺 YouTube📸 Instagram💼 LinkedIn𝕏 Michal on X𝕏 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 WednesdayWhat’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 DISCLAIMERThis 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-RAMExecutive Producer - ADAAM JAMES LEVIN-AREDDYSound and Video editing - MARTIN HUERGOMusic - MIDNIGHT GENERATION