Speaker 1: This is what the Flux.
Speaker 2: I'm Brett and aren't justin and it Monday, the fourteenth
Speaker 2: of October.
Speaker 3: Juzy Boy, who said high interest rates were hurting the
Speaker 3: property market, get this little fact.
Speaker 1: The total worth of Australia's housing.
Speaker 3: Market jumped to a record eleven trillion dollars in September
Speaker 3: this year, according to pol Logic.
Speaker 2: Now.
Speaker 3: That's because of the combination of more homes being built
Speaker 3: and prices continuing to rise.
Speaker 2: Foxam We run the numbers and seventy seven percent of
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Speaker 2: or Spotify or the Marvel up didn't even know that
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Speaker 3: Three miraculous stories Today Jusy Boy, let's do it for
Speaker 3: our first Chemist Warehouse is taking on Visa and MasterCard
Speaker 3: by rolling out a new way to pay for your
Speaker 3: products in star and I'm talking the humble QR code.
Speaker 2: Oh, this could be the start of a global protest
Speaker 2: against the two big dogs of payments. So tell me more.
Speaker 3: Well, juziboy, we've spoken a lot about Chemists Warehouse recently.
Speaker 2: We have. We spoke about their irritating jingles that won't
Speaker 2: get out of your head. We've spoken about their five
Speaker 2: hundred and forty million dollars profits last year.
Speaker 3: And also it's nine billion dollar reverse takeover of Sigma
Speaker 3: Healthcare which is still in the works.
Speaker 2: But then you got to add it to them because
Speaker 2: despite these monstrous profits, they're still looking at cutting its
Speaker 2: costs further.
Speaker 3: You see, Juzy boy, Chemis Warehouse spends more than fifteen
Speaker 3: million bucks a year in payment fees to these payment
Speaker 3: processes like Visa and MasterCard and Amex.
Speaker 2: And now chemist Warehouse is planning to circumvent these credit
Speaker 2: card fees with QR codes.
Speaker 3: Customers will supposedly scan a QR code instead of tapping
Speaker 3: their card.
Speaker 2: And with this QR code, the payment of your cough
Speaker 2: syrup and vitamins antihistamines it'll be taken directly from your
Speaker 2: bank account.
Speaker 3: And juzyboy, if this new method takes off, which is
Speaker 3: called pay by Bank. It's a win for pretty much
Speaker 3: everyone except the card and payment companies.
Speaker 2: Interesting, so what is the key learning here?
Speaker 3: But it comes to introducing a new consumer habit. One
Speaker 3: of the biggest challenges for businesses is customer adoption.
Speaker 2: You seeb Man. Consumers are creatures of habit, so switching
Speaker 2: from using a familiar method like a credit card to
Speaker 2: something new like scanning a QR code requires a lot
Speaker 2: of effort and even more education.
Speaker 3: But payment processing fees are a major operational costs for
Speaker 3: many many businesses.
Speaker 2: Yeah, get this. For many businesses, the fees can range
Speaker 2: from around one and a half to three percent of
Speaker 2: the transaction amount on credit cards. That's according to Square.
Speaker 3: And a lot of businesses pass these fees straight on
Speaker 3: to customers in the form of search chargers.
Speaker 2: You know your coffee is four dollars eighty and they
Speaker 2: charge you five dollars and three cents on the payment terminal.
Speaker 2: For our second story, Tesla has unveiled a new self
Speaker 2: driving car prototype called the Cybercab, which plans to go
Speaker 2: into production by twenty twenty six.
Speaker 3: Cybercab is surely the ultimate way to avoid small talk
Speaker 3: with ruber driver.
Speaker 1: Tell me more jazzy boy.
Speaker 2: Okay, so we know that Elon Musk is the zany,
Speaker 2: the waki, the unpredictable genius behind Tesler.
Speaker 1: And a whole lot of other companies as well.
Speaker 2: Yeah. In twenty sixteen, Elon promised the release of self
Speaker 2: driving cars in the next two years.
Speaker 3: And then in twenty nineteen he predicted that Tesla would
Speaker 3: produce operational robotaxis by twenty twenty.
Speaker 2: And if I just look at the calendar now, it
Speaker 2: is twenty twenty four and we still don't have self
Speaker 2: driving cars on the road. But before twenty twenty seven,
Speaker 2: we actually might.
Speaker 3: Late last week, Tesla finally revealed a prototype of the
Speaker 3: self driving cybercab, and I.
Speaker 2: Gotta say, be man, it kind of looks like a
Speaker 2: small lass, sleeker version of the cyber truck. Yeah.
Speaker 3: But at the event, which was called Wee Robot, Muskie
Speaker 3: Musk also unveiled prototypes of the Robovan that can carry
Speaker 3: twenty humans.
Speaker 2: But I gotta say, be man, given all the misses
Speaker 2: in the past, all of these big reveals of new
Speaker 2: cars are taken with a grain or a little pinch
Speaker 2: of salt.
Speaker 3: Yeah, and it's a share price actually declined after this news.
Speaker 2: Interesting, So what is the key learning here?
Speaker 1: When promises no longer excite results, the only thing that matter.
Speaker 2: You see, be man. Investors have grown pretty weary of
Speaker 2: companies that make grand announcements without actually backing them up
Speaker 2: with tangible outcomes.
Speaker 3: In fact, Jazzi boy Elon Musk has allegedly incorrectly predicted
Speaker 3: the release of your self driving cars seven times.
Speaker 2: Oh my god. So when it comes to Tesla's trust,
Speaker 2: it's built on actual performance rather than their bold forecasts.
Speaker 3: Over promising and under delivering leads to a whole lot
Speaker 3: of skepticism.
Speaker 2: And once investors lose confidence, even the most exciting news
Speaker 2: like a cybercab can fail to boost the company's share price.
Speaker 3: For example, the promise of these self driving cars actually
Speaker 3: saw Tesla's share price drop by around one percent.
Speaker 2: So Elon Musk is going to need to show the
Speaker 2: goods with the regulatory approvals to get investors excited for
Speaker 2: this one.
Speaker 3: For our third and final story, the New York Times
Speaker 3: is teaming up with Yahoo Sports to launch a new
Speaker 3: hub for women's sports coverage.
Speaker 2: Collaboration and not competition in this media industry that is
Speaker 2: very rare to see b man, So tell me what's
Speaker 2: going on here.
Speaker 1: Well, jessybo.
Speaker 3: The New York Times is the second largest paper in
Speaker 3: the US, and it's been in circulation since way back,
Speaker 3: I'm talking eighteen ninety six.
Speaker 2: It's also the brand behind our favorite addictive games like
Speaker 2: wordle and Connections and the Mini Crossword.
Speaker 3: And it's also the owner of sports subscription news site
Speaker 3: The Athletic, which are acquired for five hundred and fifty
Speaker 3: million US dollars.
Speaker 2: And now be man. The Athletic is teaming up with
Speaker 2: Yahoo Sports to kicks out a new women's sports coverage hub.
Speaker 3: Now the content is going to be hosted on Yahoo
Speaker 3: Sports as website and app, but also published by The
Speaker 3: Athletic as well.
Speaker 2: And both companies will have the option to sell advertising
Speaker 2: packages as part of this little.
Speaker 1: Collab and the new hub, it'll be available for free.
Speaker 2: So it should make it easier for The New York
Speaker 2: Times and Yahoo Sports to tap into the growing audience
Speaker 2: of women's sports.
Speaker 3: And the growing commercial opportunities that come with women's sports.
Speaker 2: So what is the key learning here?
Speaker 3: Where the audience goes advertisers and media attention follow You.
Speaker 2: See a man in the last few years, we've seen
Speaker 2: interest in women's sports skyrocket.
Speaker 3: Late last year, the Matilda's match against Denmark in the
Speaker 3: Women's World Cup attracted a bigger TV crowd than the
Speaker 3: AFL Grand Final.
Speaker 2: And this year we've also seen the WNBA's average game
Speaker 2: viewership hit a twenty four year high.
Speaker 3: So with audiences gravitating towards women's sports, media companies have
Speaker 3: been doubling down on their coverage.
Speaker 2: Yeah we're talking Time, Magazine, Sports Illustrated, even if they've
Speaker 2: all increased investment in covering women's sport.
Speaker 3: And does BOYD This old pivot isn't just because audience
Speaker 3: interest is increasing. We're also seeing ad investment in women's
Speaker 3: sport go up as well, aren't we yep.
Speaker 2: WNBA average forty two sponsorship deals per team in twenty
Speaker 2: twenty four, which is a forty three percent jump in
Speaker 2: the last two years. Floxam, is there any worse feeling
Speaker 2: than getting a notification from your bank saying you've just
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Speaker 1: Thanks for listening and we'll see you on Wednesday.