1 00:00:05,160 --> 00:00:06,560 Speaker 1: This is what the flux. 2 00:00:06,640 --> 00:00:09,960 Speaker 2: I'm Brett and I'm Justin and Monday, the eighth of September. 3 00:00:09,520 --> 00:00:13,000 Speaker 1: Dozy boy, Australians are supposedly in big depth to the ATO. 4 00:00:13,160 --> 00:00:16,200 Speaker 1: We're talking fifty billion dollars in debt to the Tax Office. 5 00:00:16,239 --> 00:00:19,239 Speaker 1: There's a small group of twenty two thousand dozzies who 6 00:00:19,239 --> 00:00:23,400 Speaker 1: owe eleven billion dollars themselves. That's a lazy five hundred 7 00:00:23,520 --> 00:00:24,919 Speaker 1: thousand dollars per person. 8 00:00:25,040 --> 00:00:25,279 Speaker 2: Wow. 9 00:00:25,360 --> 00:00:27,720 Speaker 1: And now the AJO is saying cough it. 10 00:00:27,800 --> 00:00:32,159 Speaker 2: Up, taxpayers saying give what back? Man. Speaking of paying 11 00:00:32,159 --> 00:00:35,040 Speaker 2: your taxes, October thirty first is just around the corner. 12 00:00:35,080 --> 00:00:36,920 Speaker 2: We're talking less than fifty days away. That is a 13 00:00:36,960 --> 00:00:39,519 Speaker 2: cutoff date when you can submit your own tax return. Now, 14 00:00:39,520 --> 00:00:41,320 Speaker 2: if you are planning to submit and you haven't done 15 00:00:41,320 --> 00:00:42,640 Speaker 2: it yet, and you need a little bit of help 16 00:00:42,680 --> 00:00:44,879 Speaker 2: understanding the tax system how it works, We've got it 17 00:00:44,920 --> 00:00:47,319 Speaker 2: all covered in the Flex Academy. This month it's your 18 00:00:47,440 --> 00:00:51,280 Speaker 2: FI twenty five tax tookit all covered, including what deductions 19 00:00:51,280 --> 00:00:52,519 Speaker 2: you can make. So if you want to learn more 20 00:00:52,560 --> 00:00:54,680 Speaker 2: about the f FI twenty five tax talkit, make sure 21 00:00:54,680 --> 00:00:56,400 Speaker 2: to download the Flex app and check it out. 22 00:00:56,440 --> 00:00:59,560 Speaker 1: Three mesmerizing stories today, juzzy boy, let's do it for 23 00:00:59,640 --> 00:01:02,400 Speaker 1: our first. At Lassian has announced plans to take on 24 00:01:02,520 --> 00:01:06,440 Speaker 1: Google and Apple with an almost one billion dollar acquisition 25 00:01:06,560 --> 00:01:08,440 Speaker 1: of an AI powered browser. 26 00:01:08,120 --> 00:01:10,479 Speaker 2: Lascian, throwing its hat into the big tech ring. Here 27 00:01:10,480 --> 00:01:12,200 Speaker 2: be man with the big dogs, tell me all so. 28 00:01:12,240 --> 00:01:14,920 Speaker 1: At Lassian was founded in Sydney twenty twenty two by 29 00:01:15,040 --> 00:01:17,240 Speaker 1: Mike Kennon Brooks and Scott Farquha, and it's. 30 00:01:17,120 --> 00:01:20,280 Speaker 2: Grown into a NASDAQ listed tech Behemit and Juzi wolld. 31 00:01:20,280 --> 00:01:23,360 Speaker 1: It's probably best known for its project tracking software Jira, 32 00:01:23,560 --> 00:01:26,160 Speaker 1: as well as its acquisition of to do list tool Trello. 33 00:01:26,240 --> 00:01:29,440 Speaker 2: Don't forget Loom, the video communication tech company that acquired 34 00:01:29,440 --> 00:01:31,520 Speaker 2: for nine hundred and seventy five milk back in twenty 35 00:01:31,520 --> 00:01:32,200 Speaker 2: twenty three. 36 00:01:32,120 --> 00:01:34,800 Speaker 1: And at lassian share price has fallen more than thirty 37 00:01:34,800 --> 00:01:37,840 Speaker 1: percent this year, Juzzy boy. After investors have been asking 38 00:01:37,880 --> 00:01:40,679 Speaker 1: the big questions, how are you going to continue growing revenue, 39 00:01:40,680 --> 00:01:42,479 Speaker 1: how are you going to win bigger contracts? 40 00:01:42,600 --> 00:01:44,479 Speaker 2: And when are you going to become profitable? 41 00:01:44,560 --> 00:01:47,360 Speaker 1: But now at Lassian has announced plans to acquire the 42 00:01:47,440 --> 00:01:50,520 Speaker 1: browser company for nine hundred and thirty six million bucks. 43 00:01:50,560 --> 00:01:53,240 Speaker 1: This is a company behind browsers called Dia and Ark 44 00:01:53,360 --> 00:01:56,560 Speaker 1: and at Lassian called the acquisition a quote trust play 45 00:01:56,680 --> 00:01:59,200 Speaker 1: and how so be man? Well, they're betting that companies 46 00:01:59,240 --> 00:02:03,720 Speaker 1: will pay for Cure AI enabled browsers built for work purposes. 47 00:02:04,040 --> 00:02:07,280 Speaker 2: And at Lassian's entering the browser space before Google edges 48 00:02:07,320 --> 00:02:09,600 Speaker 2: its way into the project tracking world. 49 00:02:09,639 --> 00:02:11,359 Speaker 1: Interesting. So what's the key learning here? 50 00:02:11,400 --> 00:02:13,840 Speaker 2: The battleground in tech isn't just who builds the best app. 51 00:02:13,919 --> 00:02:16,560 Speaker 2: It's about who owns the entry point to your work day. 52 00:02:16,680 --> 00:02:19,320 Speaker 2: Many tech companies see the browser as that front door. 53 00:02:19,400 --> 00:02:19,840 Speaker 2: Does it? Wait? 54 00:02:19,880 --> 00:02:22,240 Speaker 1: We know that Google dominates in the browser space with 55 00:02:22,320 --> 00:02:25,760 Speaker 1: nearly sixty eight percent of market share according to cloud Flare, 56 00:02:25,840 --> 00:02:28,720 Speaker 1: and then Safari with a prox twenty percent, Microsoft's edge 57 00:02:28,720 --> 00:02:29,840 Speaker 1: with a humble six percent. 58 00:02:29,960 --> 00:02:31,799 Speaker 2: Think about it, it man, If you just start their day 59 00:02:31,800 --> 00:02:34,240 Speaker 2: in Google Chrome or Safari, then Google and Apple can 60 00:02:34,280 --> 00:02:37,440 Speaker 2: push their own productivity tools and AI features first. 61 00:02:37,520 --> 00:02:40,360 Speaker 1: But if Atlasian controls the browser, it can control the 62 00:02:40,400 --> 00:02:42,639 Speaker 1: flow of attention and tasks and data. 63 00:02:42,720 --> 00:02:44,720 Speaker 2: But the man the challenge for it Lassie will be 64 00:02:44,720 --> 00:02:47,960 Speaker 2: getting its customers to actually switch to their browser. 65 00:02:47,680 --> 00:02:50,840 Speaker 1: And clearly investors aren't sure if they have the ability either, 66 00:02:50,960 --> 00:02:54,000 Speaker 1: because at Lassian share price fell two percent following this news. 67 00:02:54,520 --> 00:02:57,640 Speaker 2: For our second story, Mcquarie has smashed the Big four 68 00:02:57,680 --> 00:03:00,919 Speaker 2: banks in July this year, snapping up nearly forty percent 69 00:03:01,040 --> 00:03:03,359 Speaker 2: of all new Australian homelands reten. 70 00:03:03,240 --> 00:03:05,800 Speaker 1: The big banks must be in even bigger shock here, 71 00:03:05,880 --> 00:03:06,960 Speaker 1: JUSI boy, what's going on? 72 00:03:07,040 --> 00:03:09,840 Speaker 2: Hey? Sir. McQuary was originally founded in nineteen sixty nine, 73 00:03:09,880 --> 00:03:12,120 Speaker 2: and it's best known for being one of Australia's leading 74 00:03:12,160 --> 00:03:12,960 Speaker 2: investment banks. 75 00:03:13,040 --> 00:03:15,560 Speaker 1: But that ain't everything it does because it also has 76 00:03:15,600 --> 00:03:17,959 Speaker 1: other arms, like its asset management arm and its wealth 77 00:03:18,000 --> 00:03:18,799 Speaker 1: management arm. 78 00:03:18,680 --> 00:03:21,120 Speaker 2: And of course it's retail banking arm, which has personal 79 00:03:21,160 --> 00:03:22,960 Speaker 2: banking and mortgages. 80 00:03:22,480 --> 00:03:25,160 Speaker 1: The juze boy. Over the last few years, McQuary's retail 81 00:03:25,200 --> 00:03:27,680 Speaker 1: bank has gone hard in the mortgage space. 82 00:03:27,440 --> 00:03:29,880 Speaker 2: And clearly it's paying off. Get this. According to APRA, 83 00:03:30,040 --> 00:03:33,000 Speaker 2: Mcquarie landed nearly forty percent of all new home loan 84 00:03:33,080 --> 00:03:34,240 Speaker 2: lending in the month of July. 85 00:03:34,440 --> 00:03:37,000 Speaker 1: That means their mortgage book grew six point four times 86 00:03:37,040 --> 00:03:39,080 Speaker 1: faster than the Big four banks in July. 87 00:03:39,240 --> 00:03:41,400 Speaker 2: Interestingly, though, be Man more than ninety five percent of 88 00:03:41,440 --> 00:03:44,960 Speaker 2: these loans going to Mcquarie were being originated via mortgage broker. 89 00:03:44,800 --> 00:03:48,640 Speaker 1: And clearly Mcquarie is becoming a very significant threat in mortgage. 90 00:03:48,360 --> 00:03:50,840 Speaker 2: Land aka the cash cow of banking. 91 00:03:51,000 --> 00:03:52,280 Speaker 1: So what is the key learning here? 92 00:03:52,360 --> 00:03:55,680 Speaker 2: Mortgages may seem boring compared to flashy investment banking, but 93 00:03:55,680 --> 00:03:58,280 Speaker 2: they're one of the most lucrative parts of the financial system. 94 00:03:58,360 --> 00:04:01,200 Speaker 1: Yeah, banks love offering home loans because they're sticky, they're 95 00:04:01,240 --> 00:04:04,840 Speaker 1: long term products and they give banks reliable income for decades. 96 00:04:04,920 --> 00:04:07,480 Speaker 2: In Australia, mortgage accounts are worth over two point two 97 00:04:07,640 --> 00:04:10,360 Speaker 2: trillion dollars, which is more than sixty percent of all 98 00:04:10,400 --> 00:04:10,920 Speaker 2: bank lending. 99 00:04:11,040 --> 00:04:13,800 Speaker 1: And right now the Big four control around seventy percent 100 00:04:13,840 --> 00:04:16,320 Speaker 1: of this market and it's their single biggest profit engine. 101 00:04:16,360 --> 00:04:17,880 Speaker 2: Think about it this way, by man, If a bank 102 00:04:17,920 --> 00:04:20,840 Speaker 2: makes just one percent margin on one hundred billion dollars 103 00:04:20,839 --> 00:04:23,279 Speaker 2: of mortgages, that is a billion dollars in annual revenue. 104 00:04:23,279 --> 00:04:25,640 Speaker 1: For Combank, which has a homeland book of around six 105 00:04:25,720 --> 00:04:29,000 Speaker 1: hundred billion dollars, mortgages are the core driver of its 106 00:04:29,040 --> 00:04:31,560 Speaker 1: over ten billion dollar and your prorofit. 107 00:04:31,680 --> 00:04:34,920 Speaker 2: And that is why competition in this space is fierce. 108 00:04:34,600 --> 00:04:37,440 Speaker 1: And that's why Macquarie is leveraging an army of mortgage 109 00:04:37,440 --> 00:04:40,479 Speaker 1: brokers to funnel all leads through its front door. 110 00:04:40,600 --> 00:04:44,600 Speaker 2: For our third and final story, American eagles controversial ad 111 00:04:44,600 --> 00:04:48,160 Speaker 2: campaign with Sidney Sweeney has attracted criticism but also seen 112 00:04:48,200 --> 00:04:51,200 Speaker 2: them their share price jump twenty five percent. The public 113 00:04:51,360 --> 00:04:53,839 Speaker 2: ripped into this denm brand, So what's the story here? 114 00:04:54,160 --> 00:04:57,840 Speaker 2: American Eagle is a public listen US clothing and accessories brand. 115 00:04:57,880 --> 00:05:01,599 Speaker 2: It started in nineteen seventy seven in Michigan, US Are They. 116 00:05:01,640 --> 00:05:04,240 Speaker 1: And now it's sold in over thirty countries worldwide and 117 00:05:04,279 --> 00:05:06,720 Speaker 1: juzy Boy. It's known amongst gen zs for its on 118 00:05:07,000 --> 00:05:08,880 Speaker 1: trend and affordable style. 119 00:05:08,600 --> 00:05:10,920 Speaker 2: And especially known for their comfy denim range. 120 00:05:10,960 --> 00:05:14,560 Speaker 1: But American Eagle's most recent ad campaign almost got them canceled. 121 00:05:14,640 --> 00:05:17,400 Speaker 2: Yeah, that's right. Their latest ad which featured Sydney Sweeney 122 00:05:17,440 --> 00:05:19,880 Speaker 2: where she was wearing blue denim and had the tagline 123 00:05:20,000 --> 00:05:22,279 Speaker 2: Sydney Sweeney has great gene. 124 00:05:22,200 --> 00:05:25,880 Speaker 1: The old wordplay between denim jeans and genetic genes. 125 00:05:26,360 --> 00:05:29,200 Speaker 2: And then this campaign received a lot of backlash, mainly 126 00:05:29,200 --> 00:05:31,560 Speaker 2: for focusing on Sydney Sweeney's physical appearance only. 127 00:05:31,720 --> 00:05:35,320 Speaker 1: Yet, despite receiving major backlash from some consumers, American Eagle 128 00:05:35,400 --> 00:05:36,040 Speaker 1: sales have. 129 00:05:36,279 --> 00:05:39,479 Speaker 2: Boom and their share price search twenty five percent since 130 00:05:39,520 --> 00:05:40,400 Speaker 2: the ad controversy. 131 00:05:40,480 --> 00:05:41,560 Speaker 1: So what is the key learning here? 132 00:05:41,600 --> 00:05:45,200 Speaker 2: In today's media landscape, bad PR can still be effective PR. 133 00:05:45,320 --> 00:05:47,800 Speaker 1: Studies have shown that the average Australian is hit with 134 00:05:47,839 --> 00:05:50,320 Speaker 1: anywhere from four thousand to ten thousand ads per. 135 00:05:50,240 --> 00:05:53,239 Speaker 2: Day, so brands are constantly competing not just for your attention, 136 00:05:53,440 --> 00:05:55,040 Speaker 2: but also for you to care about them. 137 00:05:55,120 --> 00:05:58,560 Speaker 1: Being controversial is a strategic way to amplify brand awareness, 138 00:05:58,760 --> 00:06:02,160 Speaker 1: spark viral conversationations, and ultimately drive more sales. 139 00:06:02,200 --> 00:06:04,440 Speaker 2: And that's definitely proven true for American. 140 00:06:04,160 --> 00:06:06,920 Speaker 1: Eagle Get This One, Juzy Boy. This ad campaign generated 141 00:06:06,960 --> 00:06:10,440 Speaker 1: forty billion impressions and an increase of seven hundred thousand 142 00:06:10,520 --> 00:06:11,840 Speaker 1: new customers. 143 00:06:11,279 --> 00:06:13,640 Speaker 2: And Sydney Sween, his gene collaboration, sold out in just 144 00:06:13,720 --> 00:06:14,680 Speaker 2: one week. 145 00:06:14,520 --> 00:06:16,479 Speaker 1: Even while the hate comments were rolling in. 146 00:06:16,600 --> 00:06:19,039 Speaker 2: Yeah, from a sales suspective b man being talked about 147 00:06:19,040 --> 00:06:21,440 Speaker 2: it seems more important than being like but juzzy boy. 148 00:06:21,520 --> 00:06:23,880 Speaker 1: Intentionally being a bit risky is a bit of a 149 00:06:23,880 --> 00:06:26,360 Speaker 1: fine line, isn't it, Cargne anyone? 150 00:06:26,480 --> 00:06:26,720 Speaker 2: Yep. 151 00:06:26,760 --> 00:06:28,960 Speaker 1: His contract with added Us was ripped up following his 152 00:06:29,000 --> 00:06:32,360 Speaker 1: anti Semitic tirades, which costs added US an estimated five 153 00:06:32,440 --> 00:06:35,400 Speaker 1: hundred million euros in operating profit, but. 154 00:06:35,400 --> 00:06:37,960 Speaker 2: That year a load. But luckily for American Eagle, it 155 00:06:38,120 --> 00:06:40,960 Speaker 2: seems like this PR campaign, he's certainly working for their 156 00:06:40,960 --> 00:06:43,799 Speaker 2: share price. Fucks. There is less than fifty days until 157 00:06:43,839 --> 00:06:46,000 Speaker 2: the end of tax time this year if you're submitting 158 00:06:46,040 --> 00:06:47,839 Speaker 2: your own tax return, and we've got it all covered 159 00:06:47,880 --> 00:06:50,080 Speaker 2: step by step in the Flex app in our FY 160 00:06:50,160 --> 00:06:52,000 Speaker 2: twenty five tax tikit, so if you want to learn more, 161 00:06:52,080 --> 00:06:53,720 Speaker 2: make sure you downloaded the Flex app and check out 162 00:06:53,720 --> 00:06:54,560 Speaker 2: the academy this month. 163 00:06:54,600 --> 00:06:57,080 Speaker 1: Thanks for listening, and we'll see you on Wednesday.