1
00:00:05,040 --> 00:00:08,160
Speaker 1: This is what the Flux. I'm Brettanna Justin and it's

2
00:00:08,160 --> 00:00:10,000
Speaker 1: bright a first of November. Do boy.

3
00:00:10,080 --> 00:00:13,440
Speaker 2: Canva is coming back with a vengeance. Remember during peak

4
00:00:13,480 --> 00:00:16,280
Speaker 2: COVID when it scored a forty billion US dollar evaluation,

5
00:00:16,720 --> 00:00:18,880
Speaker 2: Well it dropped down to twenty six billion at one stage,

6
00:00:18,920 --> 00:00:22,120
Speaker 2: but now back to thirty two billion US dollars. Seems

7
00:00:22,120 --> 00:00:24,360
Speaker 2: like some investors are very keen to get a little

8
00:00:24,440 --> 00:00:27,280
Speaker 2: slice before it's long away to the IPO. When is

9
00:00:27,320 --> 00:00:28,120
Speaker 2: this IPO.

10
00:00:28,320 --> 00:00:31,440
Speaker 1: Five, twenty twenty six, twenty thirty centuries? And then you're

11
00:00:31,440 --> 00:00:33,760
Speaker 1: a pretty sharp guy, and I reckon if you competed

12
00:00:33,800 --> 00:00:35,680
Speaker 1: in quick six this week, you might be a chance

13
00:00:35,720 --> 00:00:38,040
Speaker 1: to win. It's our weekly game where we challenge the

14
00:00:38,040 --> 00:00:41,040
Speaker 1: Flux community to answer three questions correctly to win fifty

15
00:00:41,080 --> 00:00:43,280
Speaker 1: dollars cash to kick off the weekend. So flex am,

16
00:00:43,280 --> 00:00:45,159
Speaker 1: if you think you're knowledgeable and you are a win

17
00:00:45,240 --> 00:00:47,640
Speaker 1: at money, Yes, they shot to download the Flux outturn

18
00:00:47,720 --> 00:00:49,800
Speaker 1: on your notifications to play quick stix today.

19
00:00:49,880 --> 00:00:53,040
Speaker 2: Three victorious stories today, Juzzy boy, let's do it for

20
00:00:53,200 --> 00:00:56,960
Speaker 2: our first. Australia's quarterly inflation is below three percent for

21
00:00:57,000 --> 00:00:59,240
Speaker 2: the first time since twenty twenty one if you don't mind,

22
00:00:59,280 --> 00:01:02,800
Speaker 2: but the reserve is still and I repeat, still unlikely

23
00:01:02,880 --> 00:01:04,640
Speaker 2: to make a rate cut next week.

24
00:01:04,720 --> 00:01:07,479
Speaker 1: What will it take, Michelle Bullock, what will it take?

25
00:01:08,319 --> 00:01:08,800
Speaker 1: Will be man?

26
00:01:08,840 --> 00:01:10,920
Speaker 2: Well as you know, Juzzy Boy, Inflation has been one

27
00:01:10,920 --> 00:01:13,119
Speaker 2: of the most talked about topics over the last three years.

28
00:01:13,120 --> 00:01:13,800
Speaker 2: I'm sick of it, yeap.

29
00:01:13,800 --> 00:01:16,360
Speaker 1: Ever since COVID hit, billions of dollars in stimulus. Money

30
00:01:16,520 --> 00:01:19,160
Speaker 1: was pumped into the economy and inflation exploded like a

31
00:01:19,240 --> 00:01:20,759
Speaker 1: buttery popcorn in a microwave.

32
00:01:20,959 --> 00:01:23,280
Speaker 2: We're talking inflation jumping to a high of seven point

33
00:01:23,280 --> 00:01:24,919
Speaker 2: eight percent here in Australia.

34
00:01:24,959 --> 00:01:27,840
Speaker 1: But be man now, Australia's inflation rates the lowest rate

35
00:01:27,920 --> 00:01:29,440
Speaker 1: in three and a half years now.

36
00:01:29,440 --> 00:01:32,640
Speaker 2: According to the Australian Bureau of Statistics, the annual inflation

37
00:01:32,760 --> 00:01:34,560
Speaker 2: rate fell to just two point eight percent and they

38
00:01:34,600 --> 00:01:35,880
Speaker 2: know their way around a stat.

39
00:01:35,720 --> 00:01:37,800
Speaker 1: Yeap, down from three point eight percent during the middle

40
00:01:37,800 --> 00:01:38,360
Speaker 1: of the year as well.

41
00:01:38,440 --> 00:01:40,200
Speaker 2: And Jessie boy, the good news is that we saw

42
00:01:40,240 --> 00:01:43,240
Speaker 2: the price of petrol drop and power too, although rant

43
00:01:43,360 --> 00:01:45,920
Speaker 2: and building costs still rise here. Just calm your farm

44
00:01:45,959 --> 00:01:49,400
Speaker 2: for one momentum, because despite these positive ish results, the

45
00:01:49,440 --> 00:01:52,480
Speaker 2: Reserve Bank of Australia still isn't expected to cut rates

46
00:01:52,480 --> 00:01:53,160
Speaker 2: this year.

47
00:01:52,960 --> 00:01:56,160
Speaker 1: But we are heading closer, particularly as the trimmed mean

48
00:01:56,600 --> 00:01:58,240
Speaker 1: dropped to three and a half percent.

49
00:01:57,920 --> 00:02:00,080
Speaker 2: As well, which is getting closer to its target of

50
00:02:00,120 --> 00:02:01,040
Speaker 2: two to three percent.

51
00:02:01,160 --> 00:02:02,480
Speaker 1: So what is the key learning here?

52
00:02:02,560 --> 00:02:05,600
Speaker 2: The trimmed mean is like taking a group of test

53
00:02:05,640 --> 00:02:08,240
Speaker 2: scores and removing the highest and the lowest ones to

54
00:02:08,280 --> 00:02:10,720
Speaker 2: find a better average. Yet we know the extreme scores

55
00:02:10,760 --> 00:02:14,040
Speaker 2: could affect the overall picture and kind of misleads people.

56
00:02:14,120 --> 00:02:17,320
Speaker 2: So in the case of inflation, the trimmed mean chucks

57
00:02:17,400 --> 00:02:19,840
Speaker 2: out some of the more volatile items.

58
00:02:19,480 --> 00:02:21,799
Speaker 1: And this gives the RBA a clearer picture of the

59
00:02:21,840 --> 00:02:23,040
Speaker 1: real inflation trends.

60
00:02:23,120 --> 00:02:25,400
Speaker 2: For example of Judzy Boy, the government has created an

61
00:02:25,520 --> 00:02:28,040
Speaker 2: energy rebate which gives power bill credit and this can

62
00:02:28,080 --> 00:02:31,480
Speaker 2: totally skew the overall inflation rate. So the trimmed mean

63
00:02:31,639 --> 00:02:34,200
Speaker 2: cuts out all of the temporary spikes in prices.

64
00:02:34,240 --> 00:02:36,520
Speaker 1: For the ABA, I want to see consistent drops in

65
00:02:36,520 --> 00:02:38,720
Speaker 1: inflation before dropping the cash rain.

66
00:02:38,800 --> 00:02:40,200
Speaker 2: That may take a few more months.

67
00:02:40,600 --> 00:02:43,680
Speaker 1: For our second story, Dropboxes announced it will lay off

68
00:02:43,720 --> 00:02:46,520
Speaker 1: twenty percent of its workforce after it struggles through a

69
00:02:46,800 --> 00:02:50,560
Speaker 1: transitional period, never a good term a transitional period in

70
00:02:50,600 --> 00:02:53,000
Speaker 1: a corporate company. Juzzy boy, So what is going on here?

71
00:02:53,200 --> 00:02:55,040
Speaker 1: So v Man Dropbox launch back in two thousand and

72
00:02:55,080 --> 00:02:58,160
Speaker 1: seven when Rihanna is singing Umbrella all over the radio eight.

73
00:02:58,240 --> 00:03:00,360
Speaker 2: And by the way, back when USB's with a course

74
00:03:00,360 --> 00:03:01,760
Speaker 2: thing since floppy.

75
00:03:01,400 --> 00:03:04,240
Speaker 1: Disks now, but Man, back then, dropboxes founder had an

76
00:03:04,240 --> 00:03:06,880
Speaker 1: idea to launch storage that wasn't on a USB but

77
00:03:06,960 --> 00:03:08,200
Speaker 1: actually stored online.

78
00:03:08,280 --> 00:03:11,359
Speaker 2: And while that sounds quite elementary now, it was revolutionary

79
00:03:11,400 --> 00:03:11,799
Speaker 2: at the time.

80
00:03:12,080 --> 00:03:14,000
Speaker 1: They went viral in two thousand and eight when Dropbox

81
00:03:14,120 --> 00:03:17,400
Speaker 1: ran a referral campaign that helped double its userbase every

82
00:03:17,480 --> 00:03:19,160
Speaker 1: three months for two years.

83
00:03:18,919 --> 00:03:20,880
Speaker 2: And since then it's grown to more than seven hundred

84
00:03:20,919 --> 00:03:22,640
Speaker 2: million registered users.

85
00:03:22,360 --> 00:03:24,200
Speaker 1: And eighteen million paying uses as well.

86
00:03:24,240 --> 00:03:26,040
Speaker 2: But now, dozy Boy, Dropbox is going to lay off

87
00:03:26,080 --> 00:03:28,640
Speaker 2: twenty percent of its workforce, which is more than five

88
00:03:28,720 --> 00:03:29,440
Speaker 2: hundred people.

89
00:03:29,480 --> 00:03:31,760
Speaker 1: The goal is to make cuts in areas where Dropbox

90
00:03:31,800 --> 00:03:32,920
Speaker 1: has over invested.

91
00:03:33,200 --> 00:03:34,440
Speaker 2: And why are they making these?

92
00:03:34,520 --> 00:03:37,240
Speaker 1: Their big big cuts willbe man. Dropbox has lost serious

93
00:03:37,280 --> 00:03:39,680
Speaker 1: market share to many of its rivals, like Little Drive,

94
00:03:39,880 --> 00:03:42,080
Speaker 1: Microsoft's one Dried, Apple's iCloud.

95
00:03:42,120 --> 00:03:45,120
Speaker 2: In fact, Dropbox only added sixty three thousand new uses

96
00:03:45,240 --> 00:03:46,560
Speaker 2: in the most recent quarter.

97
00:03:46,360 --> 00:03:49,160
Speaker 1: Which was its lowest quarter of growth in its history.

98
00:03:49,160 --> 00:03:51,400
Speaker 2: Oh boy, So what is the key learning here in

99
00:03:51,400 --> 00:03:52,080
Speaker 2: the tech world?

100
00:03:52,160 --> 00:03:56,320
Speaker 1: Today's groundbreaking product can quickly become tomorrow's standard feature.

101
00:03:56,400 --> 00:03:58,960
Speaker 2: For Dropbox, this means their cloud storage, which is once

102
00:03:59,000 --> 00:04:02,720
Speaker 2: pretty revolutionary, is just one of many cloud storage services.

103
00:04:02,760 --> 00:04:04,800
Speaker 1: Oh and b man, did I mention? They're now also

104
00:04:04,800 --> 00:04:07,080
Speaker 1: competing with the behemoths like Google.

105
00:04:06,840 --> 00:04:10,160
Speaker 2: And Microsoft actually did already mention and they have billions

106
00:04:10,160 --> 00:04:12,360
Speaker 2: of users collectively? Does you bo for Dropbox?

107
00:04:12,440 --> 00:04:14,120
Speaker 1: It's kind of like being the star of the show

108
00:04:14,240 --> 00:04:16,920
Speaker 1: only to find your way now part of an ensemble cast?

109
00:04:17,200 --> 00:04:18,000
Speaker 1: You know all about that.

110
00:04:18,080 --> 00:04:20,480
Speaker 2: The challenge for Dropbox has been staying ahead in a

111
00:04:20,520 --> 00:04:22,599
Speaker 2: world where everyone else is catching up, and a.

112
00:04:22,720 --> 00:04:25,239
Speaker 1: Man, Dropbox isn't the first product to become a common,

113
00:04:25,400 --> 00:04:28,160
Speaker 1: undifferentiated feature in another company's app.

114
00:04:28,240 --> 00:04:31,160
Speaker 2: And what about Zoom? Now there's Google, meet Microsoft, teams

115
00:04:31,200 --> 00:04:33,239
Speaker 2: and a whole host of others in that ensemble cast.

116
00:04:33,800 --> 00:04:36,720
Speaker 1: For our third and final story, Reddit share price the

117
00:04:36,800 --> 00:04:41,240
Speaker 1: skyrocket over forty percent after its first ever profitable corner.

118
00:04:41,360 --> 00:04:44,520
Speaker 1: Pun you a forum for rants and very weird questions

119
00:04:44,520 --> 00:04:47,599
Speaker 1: could be this humongous? What is happening right here? All right?

120
00:04:47,640 --> 00:04:50,320
Speaker 1: We know. Reddit is the social online forum that was

121
00:04:50,400 --> 00:04:52,400
Speaker 1: launched back in two thousand and five, and it's known

122
00:04:52,440 --> 00:04:56,000
Speaker 1: for its user led communities called subreddits.

123
00:04:55,240 --> 00:04:57,560
Speaker 2: And does boy it ain't small. In August of this year,

124
00:04:57,600 --> 00:05:01,720
Speaker 2: Reddit became the ninth most visited website in the Solar System.

125
00:05:01,400 --> 00:05:03,479
Speaker 1: And they may now. Reddit share price has jumped a

126
00:05:03,520 --> 00:05:06,320
Speaker 1: wap in forty percent after it announced its first ever

127
00:05:06,520 --> 00:05:07,240
Speaker 1: profitable quarter.

128
00:05:07,279 --> 00:05:09,919
Speaker 2: Reddit saw its total revenue jump sixty percent to a

129
00:05:10,160 --> 00:05:13,320
Speaker 2: cool and casual three hundred and forty eight million US dollars,

130
00:05:13,360 --> 00:05:15,800
Speaker 2: and it brought in an adjusted operating profit of more

131
00:05:15,839 --> 00:05:18,640
Speaker 2: than ninety four million US dollars compared to a loss

132
00:05:18,680 --> 00:05:20,640
Speaker 2: at this time last year. And jasboid. This is off

133
00:05:20,680 --> 00:05:24,160
Speaker 2: the back of reddits investments in advertising technology to better

134
00:05:24,200 --> 00:05:26,520
Speaker 2: compete with the big dogs like a Meta, as well

135
00:05:26,560 --> 00:05:29,359
Speaker 2: as major deals they signed with Google and to open

136
00:05:29,440 --> 00:05:33,039
Speaker 2: AI creddits, also allowing AI companies to train their models

137
00:05:33,160 --> 00:05:36,880
Speaker 2: using reddits data in exchange for some serious Cashiola.

138
00:05:36,400 --> 00:05:38,919
Speaker 1: And be man, Well, that's a juicy revenue source for now.

139
00:05:39,040 --> 00:05:41,000
Speaker 1: It's a little tricky to see how it plays out

140
00:05:41,000 --> 00:05:41,520
Speaker 1: long term.

141
00:05:41,680 --> 00:05:43,200
Speaker 2: So what is the key learning here?

142
00:05:43,279 --> 00:05:46,280
Speaker 1: A trendy revenue source today is only successful if it's

143
00:05:46,279 --> 00:05:47,640
Speaker 1: sustainable into the future.

144
00:05:47,920 --> 00:05:51,159
Speaker 2: Lately, we've been seeing many media companies entering deals with

145
00:05:51,240 --> 00:05:52,040
Speaker 2: AI companies.

146
00:05:52,040 --> 00:05:54,440
Speaker 1: The simple exchange, we give you access to our content

147
00:05:54,520 --> 00:05:56,280
Speaker 1: to train your AI models.

148
00:05:56,000 --> 00:05:58,839
Speaker 2: And then you give us fund sized wielbarrows of cash.

149
00:05:59,000 --> 00:06:02,000
Speaker 1: Think the Financial Times, News Corp, Time, Box Media, and

150
00:06:02,040 --> 00:06:02,839
Speaker 1: of course Reddit.

151
00:06:03,000 --> 00:06:05,360
Speaker 2: And these deals are creating new revenue streams for media

152
00:06:05,400 --> 00:06:08,919
Speaker 2: companies who are desperado to find new sources of revenue.

153
00:06:09,000 --> 00:06:11,839
Speaker 2: News Corps deal with open Ai is reportedly worth two

154
00:06:11,880 --> 00:06:14,599
Speaker 2: hundred and fifty million US dollars over the next five years,

155
00:06:14,640 --> 00:06:16,880
Speaker 2: and Reddits ai deals are worth two hundred and three

156
00:06:16,960 --> 00:06:19,440
Speaker 2: million US dollars. But the man Given how new AI

157
00:06:19,680 --> 00:06:21,920
Speaker 2: is as a technology, there's not a lot of clarity

158
00:06:22,040 --> 00:06:24,000
Speaker 2: on how this sort of revenue source will play out

159
00:06:24,000 --> 00:06:26,640
Speaker 2: in the long term. AI companies need access to a

160
00:06:26,760 --> 00:06:29,440
Speaker 2: variety of original contents to train their products.

161
00:06:29,080 --> 00:06:31,359
Speaker 1: For now, but when those products become good enough and

162
00:06:31,480 --> 00:06:34,719
Speaker 1: accurate enough, they might not need the source material.

163
00:06:34,400 --> 00:06:37,479
Speaker 2: Anymore, which could create an existential crisis for many of

164
00:06:37,520 --> 00:06:38,360
Speaker 2: these media brands.

165
00:06:38,400 --> 00:06:40,000
Speaker 1: Box sam if you want to win a money and

166
00:06:40,120 --> 00:06:42,200
Speaker 1: prove to everyone else in the Flux community that you

167
00:06:42,279 --> 00:06:44,480
Speaker 1: are the smartest and the quiggst. There is only one

168
00:06:44,520 --> 00:06:46,240
Speaker 1: place to do it today, It's in the Flux app

169
00:06:46,240 --> 00:06:48,640
Speaker 1: playing quick Sticks. Make sure to download the app, spend

170
00:06:48,640 --> 00:06:51,040
Speaker 1: on your notifications to win fifty bucks and kick off

171
00:06:51,040 --> 00:06:52,040
Speaker 1: your weekend on a height.

172
00:06:52,200 --> 00:06:56,480
Speaker 2: Thanks for listening and we will see you on Monday.