> We record anything you’ve seen, said, or heard and make it searchable. For your privacy, we store all of the recordings locally on your Mac. Only you have access to them

Until an unauthorized person gains access to your computer.

I'm assuming there is some sort of encryption, but if the software can transparently decrypt the data to access it, then what is to prevent someone stealing the key from the software?

How is this affected by wiretap and privacy laws, where you would need the consent of other people in the room?

At home, I certainly don't want something recording every sound.

Even at work, I don't want everything recorded. Sometimes people need to communicate freely and discretely, e.g. your manager says to you like "Don't prioritize the CEOs request. It's a bad idea and won't go anywhere. If he asks you, we're working on it. I'll deal with the fallout later."