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Re:Podman Desktop 1.2 Released: Compose and Kubernetes Support by mogwire on Friday July 14, 2023 @10:26AM (#36724482)
Orbstack also uses a virtual machine.

How does it work? Why is it fast?

OrbStack uses a lightweight Linux virtual machine with tightly-integrated, purpose-built services and networking written in a mix of Swift, Go, Rust, and C. See Architecture for more details.

Re:Podman Desktop 1.2 Released: Compose and Kubernetes Support by Art9681 on Friday July 14, 2023 @12:25PM (#36726198)
It's using Apple Virtualization Framework + Rosetta acceleration instead of third party hypervisor like QEMU. There are ways to do this via the CLI with a simple one line command if you have Xcode installed.