1 00:00:05,120 --> 00:00:06,480 Speaker 1: This is what the Flux. 2 00:00:06,559 --> 00:00:08,720 Speaker 2: I'm Brett and I'm just send It's Monday, the tenth 3 00:00:08,760 --> 00:00:09,600 Speaker 2: of February. 4 00:00:09,320 --> 00:00:09,840 Speaker 1: Does wait. 5 00:00:09,880 --> 00:00:12,400 Speaker 3: We know that Nissan has been in trouble lately and 6 00:00:12,440 --> 00:00:15,320 Speaker 3: we're in talks with Honda to merge in order to survive. 7 00:00:15,440 --> 00:00:18,520 Speaker 3: But now Nissan is ending those negotiations with Honda and 8 00:00:18,680 --> 00:00:19,360 Speaker 3: is looking for. 9 00:00:19,320 --> 00:00:21,280 Speaker 1: A partner in the tech industry. 10 00:00:21,320 --> 00:00:23,200 Speaker 2: If you don't mind, man, I've got a little money 11 00:00:23,200 --> 00:00:25,599 Speaker 2: in for this Monday, I was using the Flux subscription 12 00:00:25,680 --> 00:00:27,640 Speaker 2: tracker and realized I was still paid for a gym 13 00:00:27,640 --> 00:00:30,200 Speaker 2: membership that I thought I was canceling it weeks ago 14 00:00:30,400 --> 00:00:33,239 Speaker 2: tooved me sixty five bukkerunis this week and sixty five 15 00:00:33,280 --> 00:00:35,400 Speaker 2: for next week as well, and I was delighted, just 16 00:00:35,479 --> 00:00:37,199 Speaker 2: quietly to fox AUP. If you want to see all 17 00:00:37,240 --> 00:00:39,320 Speaker 2: the recurring payments that are coming out of your account 18 00:00:39,360 --> 00:00:41,559 Speaker 2: every single week, there is only one place to do it. 19 00:00:41,600 --> 00:00:43,320 Speaker 2: In the Flux app. It tells you how much you're 20 00:00:43,360 --> 00:00:45,519 Speaker 2: paying and forecast the rest of your month as well. 21 00:00:45,560 --> 00:00:47,080 Speaker 2: To make sure to download the app and check out 22 00:00:47,120 --> 00:00:48,080 Speaker 2: the subscription. 23 00:00:47,720 --> 00:00:51,720 Speaker 3: Trucker today three spectacular stories today, doesy boy? Let's do 24 00:00:51,800 --> 00:00:55,000 Speaker 3: it for our First, the Victorian government is going on 25 00:00:55,080 --> 00:00:58,760 Speaker 3: a sport spending spree after landing a multi year deal 26 00:00:58,920 --> 00:01:02,400 Speaker 3: toast NFL games in Melbourne as well as the NBA. 27 00:01:02,720 --> 00:01:05,039 Speaker 2: Man I thought Victoria was in a heap of debt, 28 00:01:05,240 --> 00:01:06,240 Speaker 2: So what is going on here? 29 00:01:06,280 --> 00:01:08,920 Speaker 3: Well, Josey boy, As you know, Melbourne may not have 30 00:01:09,120 --> 00:01:11,319 Speaker 3: the ocean views like Sydney or the glitz of the 31 00:01:11,319 --> 00:01:12,160 Speaker 3: Gold Coast. 32 00:01:11,880 --> 00:01:14,319 Speaker 2: But it does pride itself on its coffee culture, it's 33 00:01:14,440 --> 00:01:17,040 Speaker 2: art scene and of course being the home of sport. 34 00:01:17,200 --> 00:01:20,640 Speaker 3: Yeah, between the Australian Open, Formula One, Grand Prix, AFL 35 00:01:20,680 --> 00:01:23,040 Speaker 3: Grand Final Melbourne cast. 36 00:01:23,080 --> 00:01:25,280 Speaker 1: It brings a lot of people to the state. 37 00:01:25,360 --> 00:01:28,000 Speaker 2: But now be man. Victorian government has announced it's landed 38 00:01:28,040 --> 00:01:31,200 Speaker 2: a multi year deal host of the Los Angeles Rams 39 00:01:31,480 --> 00:01:32,280 Speaker 2: in the NFL. 40 00:01:32,480 --> 00:01:35,479 Speaker 3: And we're not talking a casual exhibition game here, Jesse boy. 41 00:01:35,520 --> 00:01:38,559 Speaker 3: We're talking a real regular season game. 42 00:01:38,680 --> 00:01:40,640 Speaker 2: And how much moul are we talking for this deal? 43 00:01:40,760 --> 00:01:43,000 Speaker 3: Well, it's believed that the vig government will pay around 44 00:01:43,040 --> 00:01:45,200 Speaker 3: fifteen million bucks to host each. 45 00:01:45,040 --> 00:01:47,080 Speaker 2: Game, or, as the new South Wales premier called it, 46 00:01:47,160 --> 00:01:48,440 Speaker 2: a king's ransom. 47 00:01:48,720 --> 00:01:51,400 Speaker 3: And if that wasn't enough, it seems like the Victorian 48 00:01:51,440 --> 00:01:55,360 Speaker 3: government is also bringing NBA teams to Melbourne for multiple 49 00:01:55,400 --> 00:01:57,440 Speaker 3: exhibition matches in October this year. 50 00:01:57,320 --> 00:01:59,960 Speaker 2: And they'll be competing against local NBL team. 51 00:02:00,280 --> 00:02:02,320 Speaker 3: This will be like the Loon Tunes playing against the 52 00:02:02,400 --> 00:02:03,680 Speaker 3: Harlem Globetrotters. 53 00:02:03,760 --> 00:02:05,560 Speaker 2: So true. So what is the key learning here? 54 00:02:05,640 --> 00:02:09,080 Speaker 3: Bringing major sporting events to a state is always a 55 00:02:09,160 --> 00:02:10,640 Speaker 3: high stakes game for governments. 56 00:02:10,760 --> 00:02:13,040 Speaker 2: Yeah, they need to balance the hefty price tag with 57 00:02:13,120 --> 00:02:14,880 Speaker 2: the promise of economic returns. 58 00:02:15,040 --> 00:02:18,000 Speaker 3: And there are always critics who reckon splashing millions on 59 00:02:18,040 --> 00:02:19,600 Speaker 3: sports can seem like a bit of. 60 00:02:19,520 --> 00:02:23,440 Speaker 2: A luxury Hello Commonwealth Games twenty twenty six. But be men. 61 00:02:23,560 --> 00:02:27,680 Speaker 2: His history suggests that Victoria has made these investments work sometimes. 62 00:02:27,800 --> 00:02:29,160 Speaker 1: Take the Australian Grand Prix. 63 00:02:29,240 --> 00:02:32,640 Speaker 3: Victorian taxpayers have paid five hundred and twenty seven million 64 00:02:32,880 --> 00:02:35,520 Speaker 3: dollars for the event since twenty fifteen, but in twenty 65 00:02:35,520 --> 00:02:38,240 Speaker 3: twenty three alone, the Grand Prix delivered around two hundred 66 00:02:38,280 --> 00:02:41,080 Speaker 3: and sixty eight million dollars in economic impact. 67 00:02:40,720 --> 00:02:43,600 Speaker 1: Compared to the one hundred mili that the government invested. 68 00:02:43,680 --> 00:02:46,200 Speaker 2: So b man, if the NFL and NBA deals followed 69 00:02:46,200 --> 00:02:49,560 Speaker 2: the same trajectory, they could inject significant dollars in the 70 00:02:49,600 --> 00:02:53,640 Speaker 2: local economy and reinforcing Melbourne's reputation as the sporting capital 71 00:02:53,720 --> 00:02:57,680 Speaker 2: of Australia. For our second story, MCO Beauty, the Australian 72 00:02:57,720 --> 00:03:00,640 Speaker 2: cosmetics and skincare company, has been sold in a deal 73 00:03:00,680 --> 00:03:03,960 Speaker 2: that's understood to value the company at one that billion dollars. 74 00:03:04,080 --> 00:03:06,600 Speaker 1: Didn't we just talk about how sday Lauder was struggling? 75 00:03:06,680 --> 00:03:07,560 Speaker 1: Tell me more so. 76 00:03:07,600 --> 00:03:09,560 Speaker 2: The story starts in two thousand and two when MC 77 00:03:09,720 --> 00:03:12,640 Speaker 2: Beauty's found at Shelley Sullivan started a beauty brand called 78 00:03:12,800 --> 00:03:14,280 Speaker 2: Model Co The Boy. 79 00:03:14,320 --> 00:03:16,799 Speaker 3: In twenty twenty, she realized that there was a bigger 80 00:03:16,800 --> 00:03:20,639 Speaker 3: opportunity in offering more accessible and less expensive beauty. 81 00:03:20,360 --> 00:03:23,239 Speaker 2: Products, so she created MCO Beauty, which had a strategy 82 00:03:23,280 --> 00:03:27,000 Speaker 2: to basically identify viral beauty products and then dupe them. 83 00:03:27,040 --> 00:03:29,760 Speaker 2: And since twenty twenty, mc beauty has taken a market 84 00:03:29,760 --> 00:03:33,000 Speaker 2: share from Loreal, Rimmel and Maybolene and it's the best 85 00:03:33,000 --> 00:03:35,080 Speaker 2: selling beauty brand in Woolies and Big w. 86 00:03:35,320 --> 00:03:38,400 Speaker 3: And now DBG Group, which first took a fifty percent 87 00:03:38,440 --> 00:03:41,240 Speaker 3: stake in MCO Beauty in twenty twenty two, will buy 88 00:03:41,400 --> 00:03:44,000 Speaker 3: the other fifty percent for what's believed to be five 89 00:03:44,080 --> 00:03:45,000 Speaker 3: hundred million bucks. 90 00:03:45,040 --> 00:03:47,320 Speaker 2: And they man, that would mean the deal values a 91 00:03:47,400 --> 00:03:51,360 Speaker 2: company at one billion dollars. Not bad for four or 92 00:03:51,360 --> 00:03:53,480 Speaker 2: five years of duping. Yeah, so what is the key 93 00:03:53,560 --> 00:03:54,000 Speaker 2: learning here? 94 00:03:54,120 --> 00:03:56,760 Speaker 3: Jube culture is where products are copied and sold at 95 00:03:56,800 --> 00:03:59,160 Speaker 3: a lower price point than the original, And they man. 96 00:03:59,040 --> 00:04:02,840 Speaker 2: We see jube culture in water bottles, Hello stan Lee, jupes, 97 00:04:02,920 --> 00:04:06,360 Speaker 2: we see it in fragrances, Hello, let Labo, dupes, and 98 00:04:06,520 --> 00:04:10,520 Speaker 2: even especially in cosmetics Hello MC beauty. In fact, they 99 00:04:10,520 --> 00:04:13,640 Speaker 2: mean dupes account for forty percent of MC Beauty's products. 100 00:04:13,640 --> 00:04:15,960 Speaker 3: But dose boy, what's interesting is that sixty percent of 101 00:04:16,080 --> 00:04:19,800 Speaker 3: young customers would actually prefer the dupe over the og product. 102 00:04:19,600 --> 00:04:21,360 Speaker 2: Even if they could afford the real thing. 103 00:04:21,400 --> 00:04:23,560 Speaker 3: And as a result, some beauty companies they are even 104 00:04:23,600 --> 00:04:26,479 Speaker 3: producing their own knockoff versions to capitalize on the trend. 105 00:04:26,520 --> 00:04:28,880 Speaker 2: The biggest loser here be man. The brands and companies 106 00:04:28,960 --> 00:04:31,960 Speaker 2: spend millions of dollars developing a new product only for 107 00:04:32,000 --> 00:04:33,760 Speaker 2: it to be stolen slash duoped. 108 00:04:33,600 --> 00:04:36,360 Speaker 1: And it would appear that the bigger winner is MC beauty. 109 00:04:36,839 --> 00:04:39,680 Speaker 2: For our third and final story, Tinder is hoping to 110 00:04:39,720 --> 00:04:43,400 Speaker 2: turn around its declining user base by pushing AI into 111 00:04:43,440 --> 00:04:46,120 Speaker 2: its matchmaking to help discover new matches. 112 00:04:46,240 --> 00:04:49,599 Speaker 1: When swipe fatigue kicks in, Tinder turns to AI. 113 00:04:49,640 --> 00:04:52,120 Speaker 2: Like every other honymorev man. We know Tinder as a 114 00:04:52,120 --> 00:04:55,159 Speaker 2: company that made online dating cool in the iPhone age, 115 00:04:55,279 --> 00:04:58,800 Speaker 2: the old swipe left, swipebright gamified dating was unheard of 116 00:04:59,000 --> 00:05:01,920 Speaker 2: on sites like e or ok, Cupid and b Man. 117 00:05:02,040 --> 00:05:04,360 Speaker 2: Tindergrew to become the most popular dating app in the 118 00:05:04,400 --> 00:05:07,480 Speaker 2: whole wide world, with over seventy five million monthly active 119 00:05:07,560 --> 00:05:08,520 Speaker 2: users the juzzuway. 120 00:05:08,560 --> 00:05:10,839 Speaker 3: Over the past few years, Tinder has seen its active 121 00:05:10,960 --> 00:05:12,680 Speaker 3: users continue to decline. 122 00:05:12,760 --> 00:05:15,479 Speaker 2: And why is that? Be man less singletons in the world. 123 00:05:15,640 --> 00:05:18,320 Speaker 3: Quite the opposite, juzzy boy. There are still many singletons, 124 00:05:18,360 --> 00:05:21,679 Speaker 3: but many single people have grown tired of online dating. 125 00:05:21,720 --> 00:05:24,040 Speaker 2: So now Tinder's rolled out a new AI feature. It 126 00:05:24,080 --> 00:05:27,160 Speaker 2: will supposedly help improve the quality of matches. 127 00:05:27,279 --> 00:05:30,119 Speaker 3: Basically, instead of swiping, you can use a trusty AI 128 00:05:30,160 --> 00:05:31,839 Speaker 3: matchmaker to find matches for you. 129 00:05:32,000 --> 00:05:34,560 Speaker 2: But be man, Let's be honest. Tinder's business model is 130 00:05:34,640 --> 00:05:37,599 Speaker 2: probably one of the trickiest challenges that they're facing right now. 131 00:05:37,680 --> 00:05:39,480 Speaker 1: So true, so what is the key learning here? 132 00:05:39,520 --> 00:05:42,159 Speaker 2: It's tricky to build a business when your success means 133 00:05:42,160 --> 00:05:43,920 Speaker 2: your customer's failure juzuwait. 134 00:05:43,960 --> 00:05:46,920 Speaker 1: Tinder's business model is built on a paradox. 135 00:05:47,000 --> 00:05:49,919 Speaker 2: People pay for premium features to increase their chances of 136 00:05:49,960 --> 00:05:50,520 Speaker 2: finding a. 137 00:05:50,480 --> 00:05:53,200 Speaker 3: Match, but if they succeed, these people no longer need 138 00:05:53,200 --> 00:05:54,360 Speaker 3: the app and they stop paying. 139 00:05:54,440 --> 00:05:56,440 Speaker 2: On the flip side, if they don't find a match 140 00:05:56,520 --> 00:05:59,200 Speaker 2: and grow frustrated with online dating, they also leave and 141 00:05:59,240 --> 00:05:59,760 Speaker 2: stop paying. 142 00:06:00,000 --> 00:06:02,000 Speaker 1: It's a tricky balancing act for old Tinder. 143 00:06:02,040 --> 00:06:04,880 Speaker 3: Rouney yep in its scape uses hopeful enough to stay, 144 00:06:04,960 --> 00:06:08,560 Speaker 3: but not so successful they churn out immediately. More recently, 145 00:06:08,600 --> 00:06:11,680 Speaker 3: they haven't been successful in striking this balance, with monthly 146 00:06:11,720 --> 00:06:13,080 Speaker 3: active users dropping. 147 00:06:13,200 --> 00:06:15,359 Speaker 2: In fact, their users dropped by ten percent in October 148 00:06:15,440 --> 00:06:17,960 Speaker 2: last year and nine percent in November and December. 149 00:06:18,080 --> 00:06:21,000 Speaker 3: So Tinder is hoping its AI powered matching could help 150 00:06:21,080 --> 00:06:24,800 Speaker 3: this balance by making the dating process feel more achievable. 151 00:06:24,839 --> 00:06:27,680 Speaker 2: Fox Am, you will be absolutely shocked by the amount 152 00:06:27,680 --> 00:06:29,679 Speaker 2: of recurring payments that come out of your bank map 153 00:06:29,680 --> 00:06:31,760 Speaker 2: every single month. We have it all covered in the 154 00:06:31,760 --> 00:06:34,120 Speaker 2: Flux apps. In under thirty seconds, you can find all 155 00:06:34,200 --> 00:06:36,680 Speaker 2: your subscriptions or your recurring payments and all of the 156 00:06:36,800 --> 00:06:38,840 Speaker 2: forecast for the next month. It can save you one 157 00:06:38,920 --> 00:06:41,080 Speaker 2: hundreds every single month, so make sure to check out 158 00:06:41,120 --> 00:06:42,760 Speaker 2: the subscription track up in the Fox app. 159 00:06:42,800 --> 00:06:45,360 Speaker 1: Thanks for listening, and we'll see you on Wednesday.