diff --git a/apps/x/apps/renderer/src/App.tsx b/apps/x/apps/renderer/src/App.tsx
index aba0a7d4..f836ba22 100644
--- a/apps/x/apps/renderer/src/App.tsx
+++ b/apps/x/apps/renderer/src/App.tsx
@@ -3467,17 +3467,15 @@ function App() {
             const calendarEventJson = calEventMatch?.[1]?.replace(/''/g, "'")
             const { notes } = await window.ipc.invoke('meeting:summarize', { transcript: fileContent, meetingStartTime, calendarEventJson })
             if (notes) {
-              // Prepend meeting notes below the title but above the transcript
-              const { raw: fm, body: transcriptBody } = splitFrontmatter(fileContent)
-              // Use frontmatter title as the heading (set from calendar event summary)
+              // Prepend meeting notes above the existing transcript block
+              const { raw: fm, body } = splitFrontmatter(fileContent)
               const fmTitleMatch = fileContent.match(/^title:\s*(.+)$/m)
               const noteTitle = fmTitleMatch?.[1]?.trim() || 'Meeting note'
-              // Strip any existing top-level heading from body
-              const bodyWithoutTitle = transcriptBody.replace(/^#\s+.+\s*\n*/, '')
-              // Also strip any title/heading the LLM may have generated
               const cleanedNotes = notes.replace(/^#{1,2}\s+.+\n+/, '')
-              const transcriptData = JSON.stringify({ transcript: bodyWithoutTitle.trim() })
-              const newBody = `# ${noteTitle}\n\n` + cleanedNotes + '\n\n```transcript\n' + transcriptData + '\n```'
+              // Extract the existing transcript block and preserve it as-is
+              const transcriptBlockMatch = body.match(/(```transcript\n[\s\S]*?\n```)/)
+              const transcriptBlock = transcriptBlockMatch?.[1] || ''
+              const newBody = `# ${noteTitle}\n\n` + cleanedNotes + (transcriptBlock ? '\n\n' + transcriptBlock : '')
               const newContent = fm ? `${fm}\n${newBody}` : newBody
               await window.ipc.invoke('workspace:writeFile', {
                 path: notePath,
diff --git a/apps/x/apps/renderer/src/extensions/transcript-block.tsx b/apps/x/apps/renderer/src/extensions/transcript-block.tsx
index 8893ac13..9b76f568 100644
--- a/apps/x/apps/renderer/src/extensions/transcript-block.tsx
+++ b/apps/x/apps/renderer/src/extensions/transcript-block.tsx
@@ -2,10 +2,54 @@ import { mergeAttributes, Node } from '@tiptap/react'
 import { ReactNodeViewRenderer, NodeViewWrapper } from '@tiptap/react'
 import { ChevronDown, FileText } from 'lucide-react'
 import { blocks } from '@x/shared'
-import { useState } from 'react'
+import { useState, useMemo } from 'react'
 
-function TranscriptBlockView({ node }: {
+interface TranscriptEntry {
+  speaker: string
+  text: string
+}
+
+function parseTranscript(raw: string): TranscriptEntry[] {
+  const entries: TranscriptEntry[] = []
+  const lines = raw.split('\n')
+  for (const line of lines) {
+    const trimmed = line.trim()
+    if (!trimmed) continue
+    // Match **Speaker Name:** text or **You:** text
+    const match = trimmed.match(/^\*\*(.+?):\*\*\s*(.*)$/)
+    if (match) {
+      entries.push({ speaker: match[1], text: match[2] })
+    } else if (entries.length > 0) {
+      // Continuation line — append to last entry
+      entries[entries.length - 1].text += ' ' + trimmed
+    }
+  }
+  return entries
+}
+
+function speakerColor(speaker: string): string {
+  // Simple hash to pick a consistent color per speaker
+  let hash = 0
+  for (let i = 0; i < speaker.length; i++) {
+    hash = speaker.charCodeAt(i) + ((hash << 5) - hash)
+  }
+  const colors = [
+    '#3b82f6',  // blue
+    '#06b6d4',  // cyan
+    '#6366f1',  // indigo
+    '#8b5cf6',  // purple
+    '#0ea5e9',  // sky
+    '#2563eb',  // blue darker
+    '#7c3aed',  // violet
+  ]
+  return colors[Math.abs(hash) % colors.length]
+}
+
+function TranscriptBlockView({ node, getPos, editor }: {
   node: { attrs: Record<string, unknown> }
+  getPos: () => number | undefined
+  // eslint-disable-next-line @typescript-eslint/no-explicit-any
+  editor: any
 }) {
   const raw = node.attrs.data as string
   let config: blocks.TranscriptBlock | null = null
@@ -16,7 +60,27 @@ function TranscriptBlockView({ node }: {
     // fallback below
   }
 
-  const [expanded, setExpanded] = useState(false)
+  // Auto-detect: expand if this is the first real block (live recording),
+  // collapse if there's other content above (notes have been generated)
+  const isFirstBlock = useMemo(() => {
+    try {
+      const pos = getPos()
+      if (pos === undefined) return false
+      const firstChild = editor?.state?.doc?.firstChild
+      if (!firstChild) return true
+      // If the transcript block is right after the first node (heading), it's the main content
+      return pos <= (firstChild.nodeSize ?? 0) + 1
+    } catch {
+      return false
+    }
+  }, [getPos, editor])
+
+  const [expanded, setExpanded] = useState(isFirstBlock)
+
+  const entries = useMemo(() => {
+    if (!config) return []
+    return parseTranscript(config.transcript)
+  }, [config])
 
   if (!config) {
     return (
@@ -43,7 +107,18 @@ function TranscriptBlockView({ node }: {
         </button>
         {expanded && (
           <div className="transcript-block-content">
-            {config.transcript}
+            {entries.length > 0 ? (
+              entries.map((entry, i) => (
+                <div key={i} className="transcript-entry">
+                  <span className="transcript-speaker" style={{ color: speakerColor(entry.speaker) }}>
+                    {entry.speaker}
+                  </span>
+                  <span className="transcript-text">{entry.text}</span>
+                </div>
+              ))
+            ) : (
+              <div className="transcript-raw">{config.transcript}</div>
+            )}
           </div>
         )}
       </div>
diff --git a/apps/x/apps/renderer/src/hooks/useMeetingTranscription.ts b/apps/x/apps/renderer/src/hooks/useMeetingTranscription.ts
index f45b83d9..1d114c14 100644
--- a/apps/x/apps/renderer/src/hooks/useMeetingTranscription.ts
+++ b/apps/x/apps/renderer/src/hooks/useMeetingTranscription.ts
@@ -89,13 +89,18 @@ function formatTranscript(entries: TranscriptEntry[], date: string, calendarEven
         `# ${noteTitle}`,
         '',
     );
+    // Build the raw transcript text
+    const transcriptLines: string[] = [];
     for (let i = 0; i < entries.length; i++) {
         if (i > 0 && entries[i].speaker !== entries[i - 1].speaker) {
-            lines.push('');
+            transcriptLines.push('');
         }
-        lines.push(`**${entries[i].speaker}:** ${entries[i].text}`);
-        lines.push('');
+        transcriptLines.push(`**${entries[i].speaker}:** ${entries[i].text}`);
+        transcriptLines.push('');
     }
+    const transcriptText = transcriptLines.join('\n').trim();
+    const transcriptData = JSON.stringify({ transcript: transcriptText });
+    lines.push('```transcript', transcriptData, '```');
     return lines.join('\n');
 }
 
diff --git a/apps/x/apps/renderer/src/styles/editor.css b/apps/x/apps/renderer/src/styles/editor.css
index 1830cde2..efa481c1 100644
--- a/apps/x/apps/renderer/src/styles/editor.css
+++ b/apps/x/apps/renderer/src/styles/editor.css
@@ -1524,6 +1524,26 @@
   margin-top: 10px;
   padding-top: 10px;
   border-top: 1px solid color-mix(in srgb, var(--foreground) 10%, transparent);
+  display: flex;
+  flex-direction: column;
+  gap: 6px;
+}
+
+.tiptap-editor .ProseMirror .transcript-entry {
+  font-size: 13px;
+  line-height: 1.5;
+}
+
+.tiptap-editor .ProseMirror .transcript-speaker {
+  font-weight: 600;
+  margin-right: 6px;
+}
+
+.tiptap-editor .ProseMirror .transcript-text {
+  color: color-mix(in srgb, var(--foreground) 75%, transparent);
+}
+
+.tiptap-editor .ProseMirror .transcript-raw {
   font-size: 13px;
   line-height: 1.6;
   color: color-mix(in srgb, var(--foreground) 70%, transparent);