Speaker 1: This is what the Flux.
Speaker 2: I'm Brett and I'm just send It's Monday, the tenth
Speaker 2: of February.
Speaker 1: Does wait.
Speaker 3: We know that Nissan has been in trouble lately and
Speaker 3: we're in talks with Honda to merge in order to survive.
Speaker 3: But now Nissan is ending those negotiations with Honda and
Speaker 3: is looking for.
Speaker 1: A partner in the tech industry.
Speaker 2: If you don't mind, man, I've got a little money
Speaker 2: in for this Monday, I was using the Flux subscription
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Speaker 2: membership that I thought I was canceling it weeks ago
Speaker 2: tooved me sixty five bukkerunis this week and sixty five
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Speaker 3: Trucker today three spectacular stories today, doesy boy? Let's do
Speaker 3: it for our First, the Victorian government is going on
Speaker 3: a sport spending spree after landing a multi year deal
Speaker 3: toast NFL games in Melbourne as well as the NBA.
Speaker 2: Man I thought Victoria was in a heap of debt,
Speaker 2: So what is going on here?
Speaker 3: Well, Josey boy, As you know, Melbourne may not have
Speaker 3: the ocean views like Sydney or the glitz of the
Speaker 3: Gold Coast.
Speaker 2: But it does pride itself on its coffee culture, it's
Speaker 2: art scene and of course being the home of sport.
Speaker 3: Yeah, between the Australian Open, Formula One, Grand Prix, AFL
Speaker 3: Grand Final Melbourne cast.
Speaker 1: It brings a lot of people to the state.
Speaker 2: But now be man. Victorian government has announced it's landed
Speaker 2: a multi year deal host of the Los Angeles Rams
Speaker 2: in the NFL.
Speaker 3: And we're not talking a casual exhibition game here, Jesse boy.
Speaker 3: We're talking a real regular season game.
Speaker 2: And how much moul are we talking for this deal?
Speaker 3: Well, it's believed that the vig government will pay around
Speaker 3: fifteen million bucks to host each.
Speaker 2: Game, or, as the new South Wales premier called it,
Speaker 2: a king's ransom.
Speaker 3: And if that wasn't enough, it seems like the Victorian
Speaker 3: government is also bringing NBA teams to Melbourne for multiple
Speaker 3: exhibition matches in October this year.
Speaker 2: And they'll be competing against local NBL team.
Speaker 3: This will be like the Loon Tunes playing against the
Speaker 3: Harlem Globetrotters.
Speaker 2: So true. So what is the key learning here?
Speaker 3: Bringing major sporting events to a state is always a
Speaker 3: high stakes game for governments.
Speaker 2: Yeah, they need to balance the hefty price tag with
Speaker 2: the promise of economic returns.
Speaker 3: And there are always critics who reckon splashing millions on
Speaker 3: sports can seem like a bit of.
Speaker 2: A luxury Hello Commonwealth Games twenty twenty six. But be men.
Speaker 2: His history suggests that Victoria has made these investments work sometimes.
Speaker 1: Take the Australian Grand Prix.
Speaker 3: Victorian taxpayers have paid five hundred and twenty seven million
Speaker 3: dollars for the event since twenty fifteen, but in twenty
Speaker 3: twenty three alone, the Grand Prix delivered around two hundred
Speaker 3: and sixty eight million dollars in economic impact.
Speaker 1: Compared to the one hundred mili that the government invested.
Speaker 2: So b man, if the NFL and NBA deals followed
Speaker 2: the same trajectory, they could inject significant dollars in the
Speaker 2: local economy and reinforcing Melbourne's reputation as the sporting capital
Speaker 2: of Australia. For our second story, MCO Beauty, the Australian
Speaker 2: cosmetics and skincare company, has been sold in a deal
Speaker 2: that's understood to value the company at one that billion dollars.
Speaker 1: Didn't we just talk about how sday Lauder was struggling?
Speaker 1: Tell me more so.
Speaker 2: The story starts in two thousand and two when MC
Speaker 2: Beauty's found at Shelley Sullivan started a beauty brand called
Speaker 2: Model Co The Boy.
Speaker 3: In twenty twenty, she realized that there was a bigger
Speaker 3: opportunity in offering more accessible and less expensive beauty.
Speaker 2: Products, so she created MCO Beauty, which had a strategy
Speaker 2: to basically identify viral beauty products and then dupe them.
Speaker 2: And since twenty twenty, mc beauty has taken a market
Speaker 2: share from Loreal, Rimmel and Maybolene and it's the best
Speaker 2: selling beauty brand in Woolies and Big w.
Speaker 3: And now DBG Group, which first took a fifty percent
Speaker 3: stake in MCO Beauty in twenty twenty two, will buy
Speaker 3: the other fifty percent for what's believed to be five
Speaker 3: hundred million bucks.
Speaker 2: And they man, that would mean the deal values a
Speaker 2: company at one billion dollars. Not bad for four or
Speaker 2: five years of duping. Yeah, so what is the key
Speaker 2: learning here?
Speaker 3: Jube culture is where products are copied and sold at
Speaker 3: a lower price point than the original, And they man.
Speaker 2: We see jube culture in water bottles, Hello stan Lee, jupes,
Speaker 2: we see it in fragrances, Hello, let Labo, dupes, and
Speaker 2: even especially in cosmetics Hello MC beauty. In fact, they
Speaker 2: mean dupes account for forty percent of MC Beauty's products.
Speaker 3: But dose boy, what's interesting is that sixty percent of
Speaker 3: young customers would actually prefer the dupe over the og product.
Speaker 2: Even if they could afford the real thing.
Speaker 3: And as a result, some beauty companies they are even
Speaker 3: producing their own knockoff versions to capitalize on the trend.
Speaker 2: The biggest loser here be man. The brands and companies
Speaker 2: spend millions of dollars developing a new product only for
Speaker 2: it to be stolen slash duoped.
Speaker 1: And it would appear that the bigger winner is MC beauty.
Speaker 2: For our third and final story, Tinder is hoping to
Speaker 2: turn around its declining user base by pushing AI into
Speaker 2: its matchmaking to help discover new matches.
Speaker 1: When swipe fatigue kicks in, Tinder turns to AI.
Speaker 2: Like every other honymorev man. We know Tinder as a
Speaker 2: company that made online dating cool in the iPhone age,
Speaker 2: the old swipe left, swipebright gamified dating was unheard of
Speaker 2: on sites like e or ok, Cupid and b Man.
Speaker 2: Tindergrew to become the most popular dating app in the
Speaker 2: whole wide world, with over seventy five million monthly active
Speaker 2: users the juzzuway.
Speaker 3: Over the past few years, Tinder has seen its active
Speaker 3: users continue to decline.
Speaker 2: And why is that? Be man less singletons in the world.
Speaker 3: Quite the opposite, juzzy boy. There are still many singletons,
Speaker 3: but many single people have grown tired of online dating.
Speaker 2: So now Tinder's rolled out a new AI feature. It
Speaker 2: will supposedly help improve the quality of matches.
Speaker 3: Basically, instead of swiping, you can use a trusty AI
Speaker 3: matchmaker to find matches for you.
Speaker 2: But be man, Let's be honest. Tinder's business model is
Speaker 2: probably one of the trickiest challenges that they're facing right now.
Speaker 1: So true, so what is the key learning here?
Speaker 2: It's tricky to build a business when your success means
Speaker 2: your customer's failure juzuwait.
Speaker 1: Tinder's business model is built on a paradox.
Speaker 2: People pay for premium features to increase their chances of
Speaker 2: finding a.
Speaker 3: Match, but if they succeed, these people no longer need
Speaker 3: the app and they stop paying.
Speaker 2: On the flip side, if they don't find a match
Speaker 2: and grow frustrated with online dating, they also leave and
Speaker 2: stop paying.
Speaker 1: It's a tricky balancing act for old Tinder.
Speaker 3: Rouney yep in its scape uses hopeful enough to stay,
Speaker 3: but not so successful they churn out immediately. More recently,
Speaker 3: they haven't been successful in striking this balance, with monthly
Speaker 3: active users dropping.
Speaker 2: In fact, their users dropped by ten percent in October
Speaker 2: last year and nine percent in November and December.
Speaker 3: So Tinder is hoping its AI powered matching could help
Speaker 3: this balance by making the dating process feel more achievable.
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Speaker 1: Thanks for listening, and we'll see you on Wednesday.