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Speaker 1: This is the Saturday edition of Fear and Greed business

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Speaker 1: news you can use. I'm Michael Thompson and Good Morning

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Speaker 1: Sean Aylmer, Honie, Michael, Sean. Our Saturday show is all

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Speaker 1: about the two of us each nominating what we think

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Speaker 1: is the biggest business story of the week. Normally, I

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Speaker 1: mean the traditional format for this is the biggest business

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Speaker 1: story of the week, the most remarkable business story, a

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Speaker 1: mystery category, and our favorite story. It's kind of a

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Speaker 1: little bit different. It's evolving a little this week because.

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Speaker 2: Why we're getting lazier.

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Speaker 1: No, it's also because there's so much markets news around

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Speaker 1: so that the categories are a little bit a little

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Speaker 1: bit different based on reporting season. But it is still

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Speaker 1: a competition and we still expect an honorable job to

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Speaker 1: be done by the judge, which is maybe.

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Speaker 2: That's a lie. We don't expect it to be honorable,

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Speaker 2: We just expect it to be biased.

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Speaker 1: That's right. Judge is our Fear and Green colleague Adam Lang.

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Speaker 1: And Adam, we've set a pretty low bar for you.

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Speaker 1: You're prepared to step over. Yes, I am what are

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Speaker 1: you looking for this week? In these ends?

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Speaker 2: And I don't want the normal criteria from the heart, Adam,

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Speaker 2: from the heart, what are you really?

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Speaker 3: I feel like quoting Billy Joel. It's all about soul.

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Speaker 2: It's all about soul. That's what this shows about soul.

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Speaker 3: Yeah, why not?

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Speaker 1: That'll do me.

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Speaker 3: All right?

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Speaker 2: These judgments are based on soul.

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Speaker 1: Yeah, all right? In that case, Seoran, dig deep, appeal

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Speaker 1: to Adam, Soul, use a bit of your own, give

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Speaker 1: us a bigger story.

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Speaker 2: Economics, Adam, what did you do at university economics?

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Speaker 1: Oh, what a surprise, feel the soul?

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Speaker 2: What did we find out? What do we find out

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Speaker 2: this week? Well, firstly, we got the reserve being bored

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Speaker 2: minutes crazy because we already knew this unanimous. They all

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Speaker 2: wanted a rate height two weeks ago. What they're really

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Speaker 2: worried about is inflation. It's broad based. It's not just

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Speaker 2: a few things here and there. It is soulful. It

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Speaker 2: has across the board. That's what they're worried about. Then

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Speaker 2: we found out that real wages went backwards. Can you

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Speaker 2: believe that is the cost of the being over? No,

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Speaker 2: real wages went backwards, Ie, nominal wages rose less than inflation.

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Speaker 2: Little economics. Lesson there for you, my soulful man. Then

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Speaker 2: there was something else out later in the week, and

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Speaker 2: I haven't got my notes in front of meself on unemployment,

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Speaker 2: that's what it? What four point one percent? Can you

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Speaker 2: believe that?

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Speaker 3: Now?

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Speaker 2: Eighteen thousand new jobs saying whatever? But fifty thousand, fifty

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Speaker 2: thousand soulful full time jobs verse thirty three thousand who

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Speaker 2: cares part time jobs? Basically what that's about? People are

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Speaker 2: shifting from part time to full time employment. The Reserve

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Speaker 2: Bank said, maybe the labor marker is little tight. I

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Speaker 2: reckon it's really tight at the moment. So we had

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Speaker 2: real wages, we had Reserve Bank minutes, we had the

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Speaker 2: labor force stats. That, my good man, Adam, is an

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Speaker 2: example of the big story of the week.

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Speaker 1: I was hoping you could fit in one more, just

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Speaker 1: a fifth soulful reference.

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Speaker 2: I was going for it.

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Speaker 1: Because it's about he gave us. He gave us four

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Speaker 1: references to the soul. Isn't it like a religious.

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Speaker 2: Concept the song?

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Speaker 1: That's what a faith?

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Speaker 3: Yeah?

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Speaker 2: Heart and soul? Eh, how are you feel Adam's feeling?

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Speaker 3: You felt it in that story, Michael, what's yours?

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Speaker 1: Oh? Look, did you really feel it? Sorry? Goodness? The soul,

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Speaker 1: Your soul is a curious thing, Adam. I'll tell you

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Speaker 1: what has got a bit of soul back the opposition

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Speaker 1: right Mine is all about politics and the opposition, the

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Speaker 1: federal opposition. The Liberal Party is back in action. I

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Speaker 1: don't know about you, but if you just get it

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Speaker 1: to a general vibe, check this is really just getting

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Speaker 1: in touch with the soul of politics in the country.

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Speaker 1: I think that this there.

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Speaker 2: Is an interesting sentence, the soul of politics.

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Speaker 1: Yeah, I mean there is one, I think one hopes.

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Speaker 1: But this week it felt like things got back to

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Speaker 1: normal or something near normal in politics, which is actually

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Speaker 1: quite a remarkable thing. We had Angus Taylor and Jane Hume,

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Speaker 1: the new Liberal leadership team, announcing their frontbench So all

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Speaker 1: of the supporters for Angus Taylor's leadership bid over Susan Lee.

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Speaker 1: They were all rewarded. There are a few of the

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Speaker 1: people who backed Susan Lee. Ted O'Brien kept a front

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Speaker 1: bench role. That NAT's are back everything. This thing just

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Speaker 1: feels like it is back to normal. We had Angus

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Speaker 1: Taylor making his first official set speech as well, and

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Speaker 1: we've got an insight and this is the important part.

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Speaker 1: We've got an insight into what some of the policy

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Speaker 1: areas are that the Liberals are going to be focusing

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Speaker 1: on immigration. What a surprise, lower taxes, What a surprise.

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Speaker 1: We are seeing the Liberals go back to doing what

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Speaker 1: they do best.

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Speaker 2: Right now, nothing's a surprise, here, go on, Now it's not.

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Speaker 1: And this is why this story is big, because we've

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Speaker 1: had such a long period of infighting and navel gazing

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Speaker 1: and just this endless argument about themselves, and all of

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Speaker 1: a sudden, we've actually got potentially an opposition that is

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Speaker 1: capable of doing what an opposition needs to do, which

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Speaker 1: is got potentially Yeah yeah, Well, I mean, I don't

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Speaker 1: want to deliver too much of a judgment on how

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Speaker 1: successful they're going to be, but all the pieces are

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Speaker 1: there for this opposition to actually be an opposition, and

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Speaker 1: you are seeing happen in real time where Angus Taylor

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Speaker 1: has decided hang on. The biggest challenge facing our party

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Speaker 1: is not the Teals as we thought it was, and

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Speaker 1: as Susan Lee probably thought it was. It is one

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Speaker 1: nation and it is our heartlands that we are losing

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Speaker 1: to one nation. So they're going back to basics, and

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Speaker 1: this week we saw an opposition being reborn. That was

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Speaker 1: the biggest story of the week, good sell and the

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Speaker 1: Rebirth of the soul. Did you like that? That was

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Speaker 1: the just on the fly, how talented burst out of somewhere.

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Speaker 3: I liked Jane Hume's line was it not left, not for,

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Speaker 3: not left, not right, but forward? I thought that was

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Speaker 3: quite a clever framing. It is, it's getting some of

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Speaker 3: its sould back. But these are just the earliest signs

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Speaker 3: a rebirth, whereas four.

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Speaker 1: Point crime and crowning at the moment rebirth.

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Speaker 2: Moving along, move on past that, Adam, do not encourage him.

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Speaker 3: All of these people with jobs now, obviously it's an

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Speaker 3: average story. Not everyone is finding it easy, but this

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Speaker 3: is incredible conditions. So the economic soul of the nation wins,

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Speaker 3: Sean wins.

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Speaker 2: Just thank you very much. We should have also mentioned

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Speaker 2: the top of the show, which.

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Speaker 1: We have it.

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Speaker 2: Of course, probably the biggest global story of the week

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Speaker 2: is Andrew winsor Mount Patton. You mentioned crowning there, Michael, Ah,

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Speaker 2: that is we've just left that one alone. Yep, it's

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Speaker 2: clearly one of the big clearly the biggest story coming

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Speaker 2: around at the moment.

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Speaker 1: Yes, yes, yeah, it's a very good point. Elephant in

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Speaker 1: the room, that one isn't it. Let's move on to

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Speaker 1: this is where we would normally have our most remarkable story,

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Speaker 1: but because it is earning season, and because we have

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Speaker 1: been spoilt for choice so many different stories around with

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Speaker 1: companies reporting results, our most important result, right, So Sean

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Speaker 1: and I have each picked out the most important result

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Speaker 1: of the week, and I have chosen I'm going first,

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Speaker 1: if that's all right, Sean. B HP three very important letters, right,

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Speaker 1: A bumper profit reported this week up twenty two percent

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Speaker 1: to what was at six point two billion US dollars

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Speaker 1: for the half year. Its share price hit a new

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Speaker 1: record off the back of that. This company is an

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Speaker 1: absolute behemoth and it is vital to Australia's success. If

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Speaker 1: we're using the old judging criteria, Adam, I would be

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Speaker 1: referring to economic impact and the amount of tax at

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Speaker 1: this company pays that the value of its exports to

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Speaker 1: China to elsewhere in the world. But I'm not going

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Speaker 1: to mention any of that because it's just about the soul.

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Speaker 1: And BHP is a company with soul, right, and it

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Speaker 1: is a soul made diggers. It is a soul that

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Speaker 1: is now predominantly made of copper. Of copper because for

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Speaker 1: the first time, For the first time ever, copper delivered

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Speaker 1: a greater share of revenue than iron ore for BHP,

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Speaker 1: the big Australian, the iron ore company is now a

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Speaker 1: copper company. This has been a very deliberate pivot and

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Speaker 1: we talked about that through the week, the fact that

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Speaker 1: since Mike Henry came to that company, this has been

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Speaker 1: shifting in that direction, and they've been talking about it NonStop.

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Speaker 1: Every single year it has been about the copper assets.

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Speaker 1: And we've seen it over the last couple of years

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Speaker 1: that when their results come out, they're actually talking about

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Speaker 1: copper first before they even get to iron ore. And

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Speaker 1: this year, this year, or this week, we saw BHP

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Speaker 1: officially become a company of and for the future, because

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Speaker 1: copper is the element, the metal of and for the future.

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Speaker 1: We need it for electrification, we need it for the

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Speaker 1: future greener economy. It is in demand everywhere. The copper

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Speaker 1: price is high, very very high. It's vital for Australia.

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Speaker 1: This is a company and a story with soul.

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Speaker 2: Okay, okay, okay, okay, we get it. We get your

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Speaker 2: point that this was the week that it changed. That's

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Speaker 2: right here. The music, hey, the music.

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Speaker 1: It was just official this week. It's as I said,

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Speaker 1: as I said multiple times that it's been changing, it's

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Speaker 1: been pivoting over years, and every year they talk about it,

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Speaker 1: and I just said that this week was the week

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Speaker 1: that it kind of I can't.

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Speaker 2: So what's the topic again? Most important results? Most important result? Okay,

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Speaker 2: so if I think through that, what's the most important result, Well,

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Speaker 2: it's probably the one that affects most people, the most souls. Therefore,

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Speaker 2: Telstra one point three million shareholders, all those retirees out

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Speaker 2: there hoping to get their dividend from Telstra. This week

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Speaker 2: they found out they're getting a bigger dividend from Telstra

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Speaker 2: tell straight fourteen percent jump in its earnings. It ended

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Speaker 2: up making a bunch of money which I haven't got

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Speaker 2: written in front of me. I think it was two

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Speaker 2: point five billion dollars for the half year. Mobile business

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Speaker 2: is doing well. It has reduced its workforce. They were

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Speaker 2: the frontline numbers. But at the end of the day,

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Speaker 2: this is about souls. One point three million shareholders who

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Speaker 2: have done actually done pretty well out of Telstra over

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Speaker 2: the last twelve months or so, and the dividend has

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Speaker 2: been increased. As I mentioned, a bunch of retirees out

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Speaker 2: there actually dancing. They haven't danced for years. Well this

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Speaker 2: this week they started my.

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Speaker 1: Mum dancing away.

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Speaker 2: Orthopedic surgeons out there.

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Speaker 1: Rubbing their hands, all thanks to Telstra.

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Speaker 2: If this is about souls, well, how can you beat

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Speaker 2: the most widely held share of the most widely held company?

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Speaker 3: Adam, Oh, very good, most important result for the souls.

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Speaker 3: I'm going to give it to BHP because they've had

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Speaker 3: this like Damascan road conversion to copper, you know, moving

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Speaker 3: from iron Ore. What was it, Sean, I think you

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Speaker 3: reported during the week it's six years ago.

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Speaker 2: Didn't expect me to help you out in your judgment anymore. Mate,

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Speaker 2: on at one point three million souls at Telstra. Sorry,

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Speaker 2: well not at all.

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Speaker 3: No, It's almost like Telstra has turned into the quiet achiever,

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Speaker 3: you know, because this was such a magnificent result from Telstra,

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Speaker 3: but they've done so without much fanfare. It actually surprised

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Speaker 3: me how well they've done.

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Speaker 2: Put up out mobile.

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Speaker 3: Yeah, the charges, but they've done it very well and

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Speaker 3: without controversy. BHP have done had to do a massive

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Speaker 3: conversion in the last or six years to achieve this,

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Speaker 3: and what a pick, great strategic choice so yeah, I'm

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Speaker 3: just giving this to BHP.

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Speaker 1: Yeah, yeah, that's a good call.

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Speaker 2: Good for the soul, that one, okay, good for your soul,

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Speaker 2: not for the one point three million souls.

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Speaker 1: They've got their dividends. They don't need a judgment in

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Speaker 1: their favor. They're happy, all right. One, all, let's take

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Speaker 1: a quick break and come back with the mystery category

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Speaker 1: of the week. All right, Sean, we now after our

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Speaker 1: mystery category. This is it's one all of course, still

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Speaker 1: a very close competition, the one all still very close.

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Speaker 1: I mean last week it was two nil by this point,

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Speaker 1: and then it was three nil, and then if I

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Speaker 1: only need to remind you, I think it was four

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Speaker 1: nil or something roughly along those lines, and it went

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Speaker 1: against me. But I have cleansed my soul and I

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Speaker 1: don't care about that nonsense anymore. This week the mystery

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Speaker 1: category is also about results, our favorite result because like

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Speaker 1: the last round that was very worthy, right, they were

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Speaker 1: really important results. These are just our favorite ones that

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Speaker 1: appealed for reason or another. Sean, what was yours? Well?

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Speaker 2: How to disappoint the market zip Co style zip Co

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Speaker 2: of course, by our pay later group, it missed on

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Speaker 2: core profit. It missed on guidance, it upped its bad

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Speaker 2: debt levels, which of course are the big cloud on

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Speaker 2: the buying our pay Later group's horizons. CEO Cynthia Scott,

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Speaker 2: the results came out, I quote her, ZIP is a

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Speaker 2: high growth, efficient and sustainably profitable business using AI to

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Speaker 2: improve customer engagement, share price down forty percent, being worse

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Speaker 2: than Nick Scally, worse than Promedicas, worse than Temple and

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Speaker 2: Webster talk about having a horror. The part of this

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Speaker 2: story that I always find amazing is that the CEO

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Speaker 2: in this case, Cynthia Scott, but she's not alone, come

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Speaker 2: and says, hey, it is fantastic out there. The world

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Speaker 2: is beautiful, the sun is shining, or the I mean

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Speaker 2: the endler said, you've been telling us that for ages,

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Speaker 2: but see these bad debts in the US that have gone

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Speaker 2: up to one point eight four percent of your book. Now,

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Speaker 2: if that has always been the issue with by now

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Speaker 2: pay later companies, will people repay the money they've Zip's

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Speaker 2: introduced an eight installment over fourteen week product and that's

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Speaker 2: kind of what's caught them out. But it's just amazes

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Speaker 2: me that a CEO, why don't they just come out

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Speaker 2: and say, look not so good. We've got a few

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Speaker 2: problems here, a few problems there. I mean the Warren

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Speaker 2: Buffett style of actually being brutally honest about what's going on,

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Speaker 2: as opposed to saying, hey, the sun's out, flowers are

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Speaker 2: growing green shirts everywhere, and only to have your share

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Speaker 2: price dumped forty percent. My that's kind of my favorite

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Speaker 2: result because it just sort of shows everything that you

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Speaker 2: shouldn't do. Basically. Now, it did bounce a bit by

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Speaker 2: zip padd bounce a bit, so you know, but ah

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Speaker 2: Man say, yeah, how about fessing up?

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Speaker 1: Yeah? Yeah, yeah, that's tough. That is tough for the soul.

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Speaker 1: The other one, the one that I liked, Adam, the one,

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Speaker 1: the result that really spoke to me this week that just.

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Speaker 2: What what so SpaceX like? Was there a rocket company

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Speaker 2: or resulting this week that we didn't know about it?

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Speaker 1: Unfortunately no there was not, but you know what there

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Speaker 1: was Anko and Kmart and Bunnings. They speak to me

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Speaker 1: just like they speak to millions upon millions of Australians.

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Speaker 1: And we had the West Farmers result this week. Sales

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Speaker 1: were our profit was up. But this it was just

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Speaker 1: such an interesting story because Rob Scott, the CEO of

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Speaker 1: West Farmers, was actually on fear and greedy. He came

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Speaker 1: on and had a and had a chat to Sean

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Speaker 1: and it was a great, great conversation and he's and

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Speaker 1: we talk about leaders being honest. He is really honest

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Speaker 1: about the conditions that the business is facing and that

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Speaker 1: the economy is in and his talking about customers being

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Speaker 1: under pressure, and these low income households as well that

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Speaker 1: are feeling the pressure of inflation, they are feeling the

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Speaker 1: pressure of interest rate rises rise singular sorry, and the

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Speaker 1: fact that residential construction still, in his words, remains subdued,

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Speaker 1: and that then affects Bunnings. But isn't Wes Farmers such

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Speaker 1: an interesting, interesting company When you look at the breakdown

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Speaker 1: there was Bunnings contributed fifty seven percent of earnings. That

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Speaker 1: thing is extraordinary. Kmart twenty eight percent. You got office

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Speaker 1: works Target which, according to Rob Scott, as he told

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Speaker 1: us yesterday, better than kind of it appears to be

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Speaker 1: going because they have done a bit of a turnaround

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Speaker 1: on that chain price line, lithium assets as well. Within

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Speaker 1: this company, it is just a it is a behemoth,

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Speaker 1: It is a juggernaut. It is a retail juggernaut. Is

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Speaker 1: there's a sell it here? I mean, sorry, look, I

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Speaker 1: appreciate your enthusiasm. Is there gonna be two pro Wes

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Speaker 1: Farmers here?

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Speaker 2: Is there? Well?

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Speaker 1: You know what, I'm pro the brands within it, right,

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Speaker 1: And I say, is there are there two more successful

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Speaker 1: or better retail success stories in Australia except for maybe JB.

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Speaker 1: Hifai right over the last decade. But you look at Bunnings,

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Speaker 1: and you look at Kmart in particular, the way that

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Speaker 1: company turned around from say fifteen years ago where it

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Speaker 1: was going backwards and it had a terrible reputation as

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Speaker 1: just being bring it.

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Speaker 2: And you are going on and on and on.

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Speaker 1: But this is what people, This is if this category

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Speaker 1: is the category for the people, because this is our

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Speaker 1: favorite story, right But Kmart and bunny favorite story, Okay,

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Speaker 1: Camart and Bunnings are the people's stores. And I just

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Speaker 1: think they are incredible retail success stories in this country.

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Speaker 1: And I would say the two of the best three

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Speaker 1: retail our success stories of the last decade, and West

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Speaker 1: Farmers is responsible for those. So I just think that

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Speaker 1: is great and I make no apologies for being excited

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Speaker 1: about that, sure, And I'd.

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Speaker 2: Just like to add that we have no sponsorship deal

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Speaker 2: with Best Farmers, We have no commercial relationship with Kmart

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Speaker 2: or Bunnings.

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Speaker 1: Personally, it feels like I have a relationship with Bunnings

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Speaker 1: and with Kmart and with Office Works. I contribute a

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Speaker 1: great deal of money to them.

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Speaker 2: A very good point and many many visits. Yeah, many

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Speaker 2: many visits because normally when you buy something from Bunnings,

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Speaker 2: you have to go back and exchange because I've bought

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Speaker 2: the wrong one. So does that true?

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Speaker 1: That has happened many times.

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Speaker 2: Go on, Adam.

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Speaker 3: I do find it remarkable that the day that West

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Speaker 3: Farmers continue to have success, a really broad portfolio, but

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Speaker 3: this underpinning a very high performance overall incredible zip Co

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Speaker 3: on the other end of the scale, I think when

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Speaker 3: you make a comment like you quoted Sean, you know,

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Speaker 3: selling the dream and then by the way, we got

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Speaker 3: some things to us and they got absolutely whacked for it,

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Speaker 3: for the small print, you know, for the softer words.

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Speaker 3: I think that was they got hammered. West Farmers has

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Speaker 3: to win.

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Speaker 1: I just love a bit of culture that you're bringing,

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Speaker 1: some little bit of It's the soul in you know

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Speaker 1: what we haven't seen in judgments in a long time

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Speaker 1: is a bit of flat and now that's what we're

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Speaker 1: seeing today at once. No, you've let the soul loose,

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Speaker 1: and it's a good thing. It is. It is a

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Speaker 1: beautiful thing, adam. Okay, last one, what are we up to?

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Speaker 1: Favorite story? Shall I go first on this? Sure?

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Speaker 2: You go first to this one.

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Speaker 1: Look the A triple C. Let's hear it for the

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Speaker 1: A triple C.

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Speaker 2: Right, Like good, aren't you you've got some sort of

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Speaker 2: commercial deal with it?

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Speaker 1: You know I have no commercial arrangement. Let's yeah, that

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Speaker 1: would be a good one to have a relationship with. Right,

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Speaker 1: But this week it's a big week for the ah

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Speaker 1: triable C in federal in the federal court, and it's

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Speaker 1: atiable C versus coals, right, And this is all about

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Speaker 1: specials and what a special in retailers?

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Speaker 2: You know, business is beyond retail.

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Speaker 1: Okay, I don't know how many times I've had to

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Speaker 1: take you through this. I represent the everyman. I am

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Speaker 1: here on behalf of the people. And what did we use?

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Speaker 1: We use retail use.

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Speaker 2: Mobile phones that don't us or we walk.

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Speaker 1: Around the streets and we see these retailers and we

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Speaker 1: go that's out.

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Speaker 3: Like a vacuum we.

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Speaker 1: Get drawn through dy So what actually is a discount,

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Speaker 1: what actually is a special? That is really what we're

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Speaker 1: going to find out from this from this case in

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Speaker 1: the federal court, because and and Sean you kind of

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Speaker 1: outlined it really effectively earlier in the week with that

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Speaker 1: dog food example from Coals where there was a price

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Speaker 1: that was at one level I think it was four

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Speaker 1: dollars for dog food six dog for like three hundred

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Speaker 1: days and up to six dollars and then back reduced

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Speaker 1: on a big sale after a week to four dollars

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Speaker 1: fifty Right, it is still higher than the four dollars

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Speaker 1: that had been paying for pretty much the last year.

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Speaker 1: Is that a legitimate sale or are you just taking

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Speaker 1: customers for a ride? And that is what this is about.

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Speaker 1: It is a PR disaster for Coals. It will be

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Speaker 1: a PR disaster for Woollies when they face something similar

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Speaker 1: later in the year. This is all about just making

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Speaker 1: it fair for consumers, right, and that is all we

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Speaker 1: expect as consumers going in there doing our groceries. And

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Speaker 1: just a quick little shout out to the ah triable

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Speaker 1: C Focusing over the next week theme on Go Joe

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Speaker 1: on Shean and tea move. Gina Cascott lub.

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Speaker 2: Yeah, Gina, Sorry, regulators mixed up.

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Speaker 1: That's all right, It's okay to get excited about regulator.

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Speaker 1: Sean Shean and Timu a real focus of the A

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Speaker 1: Trible C over the next year because they are with

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Speaker 1: Amazon are going to make up one third of online

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Speaker 1: retail this year. Eighteen gone on a lot this morning, Mike, see,

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Speaker 1: I know, I get really passionate when you say that

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Speaker 1: you can speak from the soul. It's dangerous, right, we

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Speaker 1: need my soul. Sean is very verbose. I think we've

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Speaker 1: learned this. But they are basically making sure that these

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Speaker 1: things that are these are Chinese like bulk retailers, that

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Speaker 1: the things coming into this country are safe, that they

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Speaker 1: do what they say that they're going to do, and

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Speaker 1: they're just not going to hurt people. And they're targeting

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Speaker 1: ghost stores where they're set up to look like an

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Speaker 1: Australian shop, but really it's all based overseas, and if

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Speaker 1: you buy something from them and as dodgy as heck,

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Speaker 1: you've got nothing you can do about it. There's no

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Speaker 1: recourse there. So they're cracking down on that. The A

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Speaker 1: Triple C got their handsl good on you, a triple C.

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Speaker 1: Good for the soul.

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Speaker 2: Finished.

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Speaker 1: Yeah, I'm done. I'm done. I'm done. I'm just.

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Speaker 2: What perhaps is the only product used more widely than retail.

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Speaker 1: Oxygen?

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Speaker 2: Good question.

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Speaker 1: No, it's going to be the thing that we are

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Speaker 1: all addicted to, right yeah?

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Speaker 2: Social media? Oh yeah, my favorite story because I agree

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Speaker 2: with what I mean, you know what you're saying. It's

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Speaker 2: a bit of an old story of the Coles. Willis

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Speaker 2: for doing it again. But this week social media is

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Speaker 2: on trial. There's a trial centers on a twenty year

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Speaker 2: old woman who blames Meta's Instagram and Google's YouTube for

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Speaker 2: her years of mental health struggles. Meta thinks it's that important.

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00:24:40,640 --> 00:24:43,760
Speaker 2: They've got Mark Zuckerberg in to testify. He said a

438
00:24:43,760 --> 00:24:46,480
Speaker 2: bunch of things, including that it's really difficult to enforce

439
00:24:46,520 --> 00:24:50,040
Speaker 2: Instagram's age limits. Of course, very relevant to our own

440
00:24:50,080 --> 00:24:53,520
Speaker 2: age laws here. He also said at one point that

441
00:24:53,560 --> 00:24:57,240
Speaker 2: he overruled concerns about teen well being as in teenager

442
00:24:57,240 --> 00:25:00,119
Speaker 2: well being, even though staff at eight and X. But

443
00:25:00,160 --> 00:25:05,439
Speaker 2: it's one Will suggested that they have a band on

444
00:25:05,480 --> 00:25:09,320
Speaker 2: Instagram beauty filters Now. He said he was concerned about

445
00:25:09,320 --> 00:25:13,240
Speaker 2: free expression, so he shouldn't put bands on that this

446
00:25:13,400 --> 00:25:18,000
Speaker 2: trial really matters. It says a precedent about social media.

447
00:25:18,600 --> 00:25:24,000
Speaker 2: It basically says, is social media something like tobacco. We

448
00:25:24,119 --> 00:25:26,880
Speaker 2: know it's harmful, it's bad, big warnings, but it's legal,

449
00:25:26,920 --> 00:25:29,120
Speaker 2: so we'll let it running. Is it more like alcohol,

450
00:25:29,119 --> 00:25:31,359
Speaker 2: which is somewhere else down the spectrum? Is it? Okay,

451
00:25:31,359 --> 00:25:35,160
Speaker 2: it's just you know, the way we live our society today.

452
00:25:36,200 --> 00:25:38,399
Speaker 2: So you can have your A triple C. You can

453
00:25:38,440 --> 00:25:39,959
Speaker 2: double it with a bit of coals and wool as

454
00:25:39,960 --> 00:25:43,000
Speaker 2: you can throw a team in not anywhere near as

455
00:25:43,040 --> 00:25:51,120
Speaker 2: relevant as social media on trial? Mark Zuckerberg is Mark Zuckerberg,

456
00:25:51,160 --> 00:25:53,920
Speaker 2: this guy that started the hoodies? Or was that the Facebook.

457
00:25:53,520 --> 00:25:56,400
Speaker 3: Dudes started the hoodies?

458
00:25:57,280 --> 00:25:58,800
Speaker 2: Oh, you know the whole hoodie?

459
00:25:58,840 --> 00:26:07,160
Speaker 4: He is the face book dude? Can you both oh

460
00:26:07,200 --> 00:26:11,080
Speaker 4: those famous any social media on trial?

461
00:26:13,080 --> 00:26:16,119
Speaker 1: Can I just ask, would you describe this as a

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00:26:16,160 --> 00:26:19,480
Speaker 1: battle for the soul of America's youth.

463
00:26:21,119 --> 00:26:23,159
Speaker 2: The world's youth. I'm not going America, I'm going to

464
00:26:23,200 --> 00:26:23,560
Speaker 2: the world.

465
00:26:23,920 --> 00:26:29,200
Speaker 1: Yeah, well well said, Well said Sean Adam. Olive your

466
00:26:29,280 --> 00:26:31,800
Speaker 1: judgment and make it swift and brutal.

467
00:26:31,880 --> 00:26:35,240
Speaker 3: Okay, So the A triple C versus Cole's Yeah, pretext

468
00:26:35,359 --> 00:26:38,800
Speaker 3: for the other one versus bullies as well. But geez,

469
00:26:38,840 --> 00:26:43,360
Speaker 3: these QC's high paid lawyers coming up with arguments, fascinating

470
00:26:43,440 --> 00:26:46,120
Speaker 3: language on how discounts so justified?

471
00:26:47,000 --> 00:26:52,000
Speaker 2: Yeah, okay, pre judge.

472
00:26:51,080 --> 00:26:56,440
Speaker 3: Yeah, contemptuous social media on trial has to win.

473
00:26:57,040 --> 00:27:02,320
Speaker 2: Zuckerberg being awkward, Zuckerberg not awkward, that would be extraordinary.

474
00:27:02,440 --> 00:27:07,560
Speaker 1: Yeah, all right, that's good. That's a big way. Yeah

475
00:27:07,640 --> 00:27:10,120
Speaker 1: too well, Okay, give us the points, the count back.

476
00:27:10,560 --> 00:27:19,960
Speaker 3: Okay, eighty six points Michael Thompson and winning the contest

477
00:27:20,040 --> 00:27:23,000
Speaker 3: for the Soul this week is Sean Alma with eighty

478
00:27:23,119 --> 00:27:24,280
Speaker 3: seven points.

479
00:27:24,480 --> 00:27:28,920
Speaker 1: Oh ah, you know what, too old?

480
00:27:29,880 --> 00:27:34,160
Speaker 2: What if you congratulate you for Apart from the outcome,

481
00:27:34,560 --> 00:27:36,560
Speaker 2: is that you're not giving us as high marks anymore.

482
00:27:36,600 --> 00:27:37,159
Speaker 2: And I like it.

483
00:27:38,280 --> 00:27:39,960
Speaker 1: Yeah, it feels more real.

484
00:27:40,160 --> 00:27:42,639
Speaker 2: We don't deserve twenty five, especially when it comes to

485
00:27:42,680 --> 00:27:43,080
Speaker 2: the song.

486
00:27:43,320 --> 00:27:45,000
Speaker 3: Yeah, a little crankiness.

487
00:27:45,119 --> 00:27:50,080
Speaker 1: Yeah, yeah, this is good. It's good result overall. Congratulations Sean,

488
00:27:50,160 --> 00:27:52,960
Speaker 1: thanks you very much, Thank you very much. Thanks Adam,

489
00:27:53,040 --> 00:27:53,760
Speaker 1: good job.

490
00:27:54,200 --> 00:27:55,440
Speaker 3: Thank you, Michael, thank you, Sean.

491
00:27:56,400 --> 00:28:00,520
Speaker 1: I'm sure you needed that that workplace performance appraisal. Yeah,

492
00:28:01,000 --> 00:28:03,560
Speaker 1: well done, you well done. You've done a good job today.

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00:28:03,600 --> 00:28:06,040
Speaker 1: Make sure you're following the podcast and headlong to fearangreed

494
00:28:06,040 --> 00:28:07,720
Speaker 1: dot com today. You to sign up for our free

495
00:28:07,800 --> 00:28:10,360
Speaker 1: daily newsletter. I'll put a link in the show notes

496
00:28:10,359 --> 00:28:11,800
Speaker 1: as well, so it's nice and easy to sign up.

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00:28:11,840 --> 00:28:13,840
Speaker 1: I'm Michael Thompson and that was Fear and Greed. Have

498
00:28:13,880 --> 00:28:16,520
Speaker 1: a great day.