Podcast Summary: "The Next Generation of Cybersecurity – with Yevgeny Dibrov"

Podcast: What's Your Number? (Ark Media)
Date: November 19, 2025
Hosts: Yonatan Adiri and Michal Lev-Ram
Guest: Yevgeny Dibrov (Co-founder & CEO, Armis)

Episode Overview

This episode dives deep into Israel's booming tech and cybersecurity landscape, focusing on the remarkable growth of cyber startup Armis and featuring an in-depth conversation with its co-founder & CEO, Yevgeny Dibrov. The hosts explore the broader Israeli economy, geopolitical considerations impacting the tech sector, and unique dynamics within Israel’s startup culture—particularly the innovation, resilience, and changing aspirations of its cyber entrepreneurs. The discussion unpacks why few Israeli cyber companies have made it to IPO, the role of AI in both offense and defense, and why Israel's focus on its strongest areas—like cybersecurity and water technology—matters both locally and globally.

Key Discussion Points & Insights

1. Numbers of the Week and Market Updates

• [00:04–01:42]: The hosts share their numbers:
  • Yonatan: 12.4% (Israeli economy's annualized Q3 growth rate following rebound after a challenging Q2).
  • Michal: 19 (Nvidia's earnings report date; critical to global and Israeli tech, reflecting the importance of AI hardware providers).
• [07:53–10:37]: Windex Update:
  • The “What’s Your Number Index” of Israeli-founded public companies is slightly down but outperforms the Nasdaq.
  • Notable company updates: Pluristem (+17.5%), eToro (recent IPO, significant share buyback, 30% below IPO price). Discussion connects these moves to confidence and longer-term market prospects.

2. Geopolitics, Defense, and the Israeli Economy

• [01:56–05:08]:
  • Saudi Crown Prince's visit to the White House and its implications for F-35 sales and regional security.
  • QME (Qualitative Military Edge): US commitment to Israel's tech advantage in defense exports.
  • Yonatan highlights historic shifts, referencing PM Netanyahu's public comment about gradually phasing out direct US military aid, bolstering Israel’s economic independence:

    “This $4 billion aid is important, but it's not that important... We want to keep the partnership... but it doesn't have to be via aid.” — Yonatan [04:05]

3. Yevgeny Dibrov: Armis, Cybersecurity & the Israeli Tech Ethos

a. Yevgeny’s Personal Journey and Armis’s Origin Story

• [13:13–14:32]:

  • Armis co-founded by Yevgeny and Nadir Israel following direct conversations with CISOs and IT leaders.
  • Core insight: Explosion of connected devices (beyond traditional IT) and vulnerabilities in factories, hospitals, and critical infrastructure:

    “I used to have laptops and servers and now I have everything from switches to robotic arms to MRI machines to infusion pumps... We were hearing more and more about attacks on critical environments... least protected but with biggest value.” — Yevgeny [13:33]

• [17:30–18:24]:

  • Yevgeny discusses his immigrant background and the mindset it fostered:

    “It was always very well known if you compete with the Russian or Ukrainian on the job, you need to be like five times better... I think we see it in so many places in Israel. You come to the army... we had no choice. We had to win. If people are not coming from a real need, they've become weaker.” — Yevgeny [17:30]

b. Market Timing, IPO Aspirations, and Startup Culture

• [15:45–16:56]:
  • Armis’s recent $435M pre-IPO funding (Goldman Sachs lead, $6.1B valuation).
  • Discussed as a pre-IPO round: Targeting $1B in ARR, likely looking to IPO in early 2027.
  • Focus on “not rushing,” solid business fundamentals, and multi-product platforms:

    “Customers love the Armis products because they want to consolidate, they want one platform to deliver as many use cases as possible.” — Yevgeny [16:18]

c. Why Few Israeli Cyber Companies IPO

• [19:06–20:17]:
  • Cites market consolidation, early exits, and changing aspirations:

    “A lot of them [entrepreneurs] are talking to me... they want to build something with scale. It will take time. When you are at 100, 150 [million], now, you need to be at 500, 600, 700 to go public. Not a lot of companies get there.” — Yevgeny [19:36]

  • Shift toward building “something legendary” over quick exits.

4. The Talent Game and Impact of AI

• [20:17–22:20]:
  • Israeli talent remains world-class, but hunger and motivation are key differentiators.
  • Liquidity rounds (pre-IPO stock options) help retain key staff.
  • AI is a productivity multiplier for R&D—accelerating product development but not replacing the need for top talent:

    “AI agent won’t start creating ideas for architecture, but we can make like every person like 10x more efficient.” — Yevgeny [21:49]

5. AI as Both Threat and Opportunity in Cybersecurity

• [22:20–23:40]:
  • Discussing the evolving cyber threat landscape, including AI-augmented attacks (ref: recent Anthropic report).
  • Defensive AI can help map environments, reduce risk, and become foundational for enterprises:

    “People call us the Google Maps of their environment... first, map every single asset with context.” — Yevgeny [23:18]

6. Ecosystem Dynamics: Risk, Focus, and Knowledge Transfer

• [23:40–25:14]:

  • Investment concentration in Israeli cyber—some concerns about overfocus but others see this as building on strength:

    “We have to be in the areas where we have the biggest advantage over the world. I think that it’s good to focus more on cyber, but need to focus on big ideas.” — Yevgeny [24:47]

• [25:14–26:16]:

  • Paying it forward: Serial entrepreneurs often invest, mentor, and support each other, creating a reinforcing web of trust and knowledge:

    “It’s support and trust and giving the real MBA, the startup MBA. You learn only when you live it and like make those mistakes and go through really, really tough times…” — Yevgeny [25:40]

• [26:16–27:37]:

  • The Israeli “web of credibility”—positive experiences with global investors (e.g., Goldman Sachs) pave the way for future entrepreneurs and deals.

7. Notable Quotes & Memorable Moments

• “If people are not coming from a real need, they've become weaker.” — Yevgeny Dibrov [17:56]
• “Customers call us the Google Maps of their environment.” — Yevgeny Dibrov [23:18]
• “We are in the golden age of Israel.” — Yevgeny Dibrov [24:36]
• “Every achievement opens doors to other people and shows new goals, new barriers.” — Yevgeny Dibrov [27:05]
• “It's the partnerships that you create in life that move a lot of things and move business forward.” — Yevgeny Dibrov [27:20]

Timestamps for Key Segments

| Segment | Topic | Timestamp | |---------|-------|-----------| | Numbers of the week | Israeli economic growth, Nvidia earnings | 00:04–01:42 | | Geopolitics | Saudi F-35s, U.S.-Israel defense, future aid | 01:56–05:08 | | Market/Windex | Israeli companies on Wall Street, eToro, Waymo | 07:53–11:56 | | Yevgeny Interview - Armis origin & journey | Device explosion, vulnerabilities | 13:13–14:32 | | IPO preparation & timing | Pre-IPO dynamics, funding, growth | 15:45–16:56 | | Talent & AI | Culture, retention, AI’s impact | 20:17–22:20 | | AI and cybersecurity | Defensive and offensive capabilities | 22:20–23:40 | | Cyber IPOs | Acquisition culture, scale aspirations | 19:06–20:17 | | Paying it forward | Mentoring, Israeli startup web | 25:14–27:37 |

Reflecting on Israel's Strengths: Water Tech and Cybersecurity

• [27:52–30:40]:

  • Hosts discuss Israel's dual strengths in water tech (in light of Iran's water crisis) and cybersecurity, reinforcing Yevgeny’s advice to “play to your strengths” in both national policy and startup ventures.

    “As much as we talk about the importance of diversification for Israeli companies, for the Israeli economy, I do think something Yevgeny said about sort of playing to Israel's strength is really critical here. And whether it's water and desalination or it's cybersecurity, these are areas that Israel has had to excel at.” — Michal [30:40]

Conclusion

This episode captures a cross-section of Israel’s economy, security, and technology leadership—framed through the lens of a next-gen cyber founder. It’s both practical (with details on funding, IPOs, talent, and AI disruptions) and philosophical, pondering how collective ambition, necessity, and inter-founder support make Israel’s tech ecosystem unique and resilient.
Anyone interested in tech startups, Israel’s innovative edge, or the global cyber landscape will find this conversation insightful, layered, and candid.