For folks looking to running speech to text locally(in the context of dictation) and dont want to do a subscription there are a few apps that run whisper large turbo locally (optimized to run really fast on apple silicon).
1. https://goodsnooze.gumroad.com/l/macwhisper (dictation + transcription)
2. https://carelesswhisper.app (does dictation only, and does it really well; cheapest)
3. https://superwhisper.com (both local and hosted models + lots of bells and whistles, but much higher pricing)