1
00:00:05,200 --> 00:00:06,560
Speaker 1: This is what the Flux.

2
00:00:06,600 --> 00:00:09,000
Speaker 2: I'm Brettan, I'm justin and it's Friday, the twenty fifth

3
00:00:09,039 --> 00:00:12,240
Speaker 2: October Jasey Boy. On Wednesday, we spoke about Wistech, which

4
00:00:12,240 --> 00:00:15,160
Speaker 2: is Scandal City. At the moment, share price has dropped

5
00:00:15,160 --> 00:00:17,919
Speaker 2: more than fifteen percent, and now it's CEO has stepped

6
00:00:17,920 --> 00:00:20,840
Speaker 2: down and will quote transition to a new role in

7
00:00:20,920 --> 00:00:23,919
Speaker 2: the future. Vague stuff and quite ambiguous as well, but

8
00:00:23,960 --> 00:00:25,919
Speaker 2: at least now the company can move forward.

9
00:00:26,079 --> 00:00:27,920
Speaker 1: So true Flux Sam, if you want to have fifty

10
00:00:27,920 --> 00:00:29,880
Speaker 1: bucks in your pocket to kick off the weekend, there

11
00:00:29,920 --> 00:00:32,400
Speaker 1: is always only one place to go every Friday. It's

12
00:00:32,440 --> 00:00:34,720
Speaker 1: directly into the Flux app. To the first person to

13
00:00:34,760 --> 00:00:37,720
Speaker 1: answer three questions correctly, you'll win the fifty bucks. So

14
00:00:37,760 --> 00:00:39,519
Speaker 1: make sure to download the Flux app and turn your

15
00:00:39,560 --> 00:00:42,640
Speaker 1: notifications on to check it out and win at money.

16
00:00:42,520 --> 00:00:46,400
Speaker 2: Three or inspiring stories Today Juzzy Boy, for our first

17
00:00:46,560 --> 00:00:49,839
Speaker 2: Canva has cracked over two hundred million active users as

18
00:00:49,880 --> 00:00:52,600
Speaker 2: it stares to prepare for a future public listening.

19
00:00:52,720 --> 00:00:55,480
Speaker 1: Quite unbelievable to see the evolution of canvas from paint

20
00:00:55,480 --> 00:00:57,680
Speaker 1: two point zero to burto shube two point zero.

21
00:00:57,840 --> 00:00:59,560
Speaker 2: So tell me what's going on here, all right, juzy way, Well,

22
00:00:59,560 --> 00:01:01,480
Speaker 2: as a straight let's be honest, it feels like we've

23
00:01:01,480 --> 00:01:04,600
Speaker 2: seen the growth of Canvas from its very very early days.

24
00:01:04,640 --> 00:01:07,000
Speaker 1: It started back in twenty thirteen with a pretty bold

25
00:01:07,040 --> 00:01:10,280
Speaker 1: plan to take on Adobe with simple ways to design images.

26
00:01:10,319 --> 00:01:12,960
Speaker 2: Think about it your son's first birthday invitation or your

27
00:01:12,959 --> 00:01:14,040
Speaker 2: team's Christmas party.

28
00:01:14,160 --> 00:01:16,119
Speaker 1: And since then it's also grown to become a way

29
00:01:16,160 --> 00:01:18,480
Speaker 1: to design presentations and resumes.

30
00:01:18,600 --> 00:01:20,959
Speaker 2: And now juzzy Boy Cana has announced that it has

31
00:01:21,000 --> 00:01:23,480
Speaker 2: cracked over two hundred million active users.

32
00:01:23,520 --> 00:01:26,320
Speaker 1: Not only that, Beman, but Canvas set its annualized revenue

33
00:01:26,360 --> 00:01:28,920
Speaker 1: was now two and a half billion US dollars.

34
00:01:28,600 --> 00:01:30,839
Speaker 2: And just by the bio juzzy Boy, according to my calculations,

35
00:01:30,840 --> 00:01:33,559
Speaker 2: that's up forty seven percent from the one point seven

36
00:01:33,600 --> 00:01:34,640
Speaker 2: bill just a year ago.

37
00:01:34,760 --> 00:01:37,000
Speaker 1: But be man quite interesting that Canvas has made this

38
00:01:37,200 --> 00:01:39,000
Speaker 1: unscheduled financial update.

39
00:01:39,360 --> 00:01:41,600
Speaker 2: Well, it's all part of their plans to get the

40
00:01:41,720 --> 00:01:43,600
Speaker 2: investment market excited and.

41
00:01:43,560 --> 00:01:45,839
Speaker 1: Get into the rhythm of being a public company.

42
00:01:45,920 --> 00:01:47,720
Speaker 2: Uh huh, So what is the key learning here?

43
00:01:47,760 --> 00:01:52,440
Speaker 1: Publicizing financial performance helps to build credibility with public market investors.

44
00:01:52,720 --> 00:01:55,440
Speaker 2: As a private company, there's no requirement to share your

45
00:01:55,480 --> 00:01:57,600
Speaker 2: financial updates with anyone other than your.

46
00:01:57,520 --> 00:01:59,240
Speaker 1: Shareholders and maybe the tax office.

47
00:01:59,320 --> 00:02:02,800
Speaker 2: HU. Many companies gunning for an IPO will publish financial

48
00:02:02,880 --> 00:02:05,400
Speaker 2: updates to help establish that trust in credibility.

49
00:02:05,520 --> 00:02:09,280
Speaker 1: By showing transparency around revenue and profits and even customer metrics,

50
00:02:09,320 --> 00:02:12,520
Speaker 1: Canva can start to attract investors even before the IPO.

51
00:02:12,760 --> 00:02:14,919
Speaker 2: On top of this, these updates can help create a

52
00:02:14,960 --> 00:02:16,720
Speaker 2: positive narrative around the company as well.

53
00:02:16,800 --> 00:02:19,920
Speaker 1: Yeah, Canva releases information about revenue growth and customers, and

54
00:02:19,960 --> 00:02:22,920
Speaker 1: then they're essentially marketing themselves to potentially investors.

55
00:02:22,919 --> 00:02:25,600
Speaker 2: Now, this storytelling approach not only helps to generate a

56
00:02:25,600 --> 00:02:28,359
Speaker 2: bit of buzz, but also it can impact the IPO valuation.

57
00:02:28,480 --> 00:02:31,120
Speaker 1: Yeah, Airbnb ditta before their IPO and they updated on

58
00:02:31,200 --> 00:02:34,440
Speaker 1: growth and number of listings and geographic expansion. So b Man,

59
00:02:34,560 --> 00:02:37,760
Speaker 1: Canva is wetting the appetite of public market investors with

60
00:02:37,840 --> 00:02:40,640
Speaker 1: their delicious growth and AI vision for the future.

61
00:02:40,800 --> 00:02:44,360
Speaker 2: For our second story, Grilled, the Ossie Burger chain is

62
00:02:44,440 --> 00:02:47,120
Speaker 2: under a bit of scrutiny for finding a loophole to

63
00:02:47,160 --> 00:02:50,480
Speaker 2: pay thousands of workers below minimum industry rates.

64
00:02:50,560 --> 00:02:52,880
Speaker 1: Don't you dare speak badly about grild burgers? B man,

65
00:02:53,040 --> 00:02:55,360
Speaker 1: I will hear nothing of this, but tell me what okay?

66
00:02:55,360 --> 00:02:58,080
Speaker 2: So Grilled obviously, the Ossie Burger chain that specializes in

67
00:02:58,080 --> 00:03:00,080
Speaker 2: what they call healthy burgers.

68
00:02:59,720 --> 00:03:02,120
Speaker 1: Being ingredients of that HERBD Mayo Dip and Chiby's is

69
00:03:02,160 --> 00:03:04,720
Speaker 1: more protected than Colonel Sanders eleven Herbs Advices. Now.

70
00:03:04,760 --> 00:03:06,800
Speaker 2: Grill launched in two thousand and four and now has

71
00:03:06,800 --> 00:03:09,560
Speaker 2: around one hundred and seventy restaurants Australia wide and one

72
00:03:09,720 --> 00:03:11,200
Speaker 2: in semmyak Bali.

73
00:03:11,280 --> 00:03:13,800
Speaker 1: But now be man Grill's being accused of paying thousands

74
00:03:13,840 --> 00:03:17,079
Speaker 1: of workers below minimum industry rates in its latest pay

75
00:03:17,160 --> 00:03:17,560
Speaker 1: deal you.

76
00:03:17,480 --> 00:03:20,400
Speaker 2: See juz Boyd. Typically retail workers like Grilled staff are

77
00:03:20,440 --> 00:03:21,280
Speaker 2: paid according to.

78
00:03:21,360 --> 00:03:24,040
Speaker 1: Award rates, but this new deal is going away from

79
00:03:24,040 --> 00:03:26,720
Speaker 1: the award and focusing on their own enterprise agreement with

80
00:03:26,840 --> 00:03:27,440
Speaker 1: loaded rate.

81
00:03:27,520 --> 00:03:30,639
Speaker 2: The union reckons that premium will disappear pretty quickly.

82
00:03:30,480 --> 00:03:33,120
Speaker 1: And workers will actually dip below the award by July

83
00:03:33,360 --> 00:03:33,839
Speaker 1: next year.

84
00:03:33,880 --> 00:03:36,240
Speaker 2: And this created the first ever strike action in the

85
00:03:36,240 --> 00:03:37,720
Speaker 2: fast food industry last weekend.

86
00:03:37,760 --> 00:03:39,520
Speaker 1: Wow. So what is the key learning here?

87
00:03:39,640 --> 00:03:42,480
Speaker 2: Loaded rates are a method of calculating wages that combine

88
00:03:42,560 --> 00:03:45,560
Speaker 2: base pain with allowances and penalty rates into a single

89
00:03:45,720 --> 00:03:48,720
Speaker 2: rate and be Man. While this can simplify payroll for employers,

90
00:03:48,880 --> 00:03:52,040
Speaker 2: it can often hide the true value for employees. Unions

91
00:03:52,040 --> 00:03:54,520
Speaker 2: think that despite getting ninety three percent of stuff agreeing

92
00:03:54,520 --> 00:03:57,000
Speaker 2: to the deal, it wasn't genuinely agreed to.

93
00:03:57,080 --> 00:04:00,000
Speaker 1: And that's because Grill didn't explain the loaded rates properly

94
00:04:00,160 --> 00:04:01,400
Speaker 1: to their workers.

95
00:04:00,920 --> 00:04:03,360
Speaker 2: Meaning employees might be missing out on some benefits.

96
00:04:03,400 --> 00:04:05,400
Speaker 1: And b Man Grilled eight the only ones accused of

97
00:04:05,480 --> 00:04:07,600
Speaker 1: using illegal loopholes to pay staff less.

98
00:04:07,760 --> 00:04:10,480
Speaker 2: Well, I remember Chocky Shop, Coco Black. They've been accused

99
00:04:10,480 --> 00:04:12,720
Speaker 2: of trying to pull a shifty on hundreds of workers.

100
00:04:12,760 --> 00:04:15,480
Speaker 1: Yep, we're talking pay rises of just one percent per year.

101
00:04:15,400 --> 00:04:18,080
Speaker 2: And even Subway has been getting into the thick of it,

102
00:04:18,160 --> 00:04:20,000
Speaker 2: losing a case at the Fair Work Commission.

103
00:04:20,040 --> 00:04:22,520
Speaker 1: So now it'll be interesting to see whether Grilled staff

104
00:04:22,720 --> 00:04:24,719
Speaker 1: continue flipping those delicious burgers.

105
00:04:24,880 --> 00:04:28,480
Speaker 2: For our third and final story, Tesla's shares jump twelve

106
00:04:28,560 --> 00:04:31,799
Speaker 2: percent after it recorded its third quarter earnings and announced

107
00:04:31,800 --> 00:04:34,760
Speaker 2: plans to launch a ride haling service in twenty twenty five.

108
00:04:34,920 --> 00:04:38,120
Speaker 1: Can't say there's anything surprising about crazily ambitious statements coming

109
00:04:38,120 --> 00:04:39,880
Speaker 1: from Elon Musk, So what is the story? Here.

110
00:04:40,000 --> 00:04:42,400
Speaker 2: Well, Tesla, of course, is the electric vehicle company with

111
00:04:42,480 --> 00:04:44,560
Speaker 2: a market cap of a wopp in six hundred and

112
00:04:44,640 --> 00:04:46,239
Speaker 2: eighty two billion US dollars.

113
00:04:46,320 --> 00:04:48,479
Speaker 1: To put that into perspective, b man, it's worth more

114
00:04:48,520 --> 00:04:50,680
Speaker 1: than the total economy of Austria or Chile.

115
00:04:50,800 --> 00:04:53,480
Speaker 2: Now, juzzy way. Tesla's share price jump of twelve percent

116
00:04:53,560 --> 00:04:55,600
Speaker 2: has followed its third quarter earnings update. Yeah.

117
00:04:55,600 --> 00:04:59,200
Speaker 1: Even though Tesla's revenue didn't quite meet expectations, it announced

118
00:04:59,279 --> 00:05:01,839
Speaker 1: vehicle sales growth for twenty twenty five plans for a

119
00:05:01,920 --> 00:05:03,479
Speaker 1: lower cost electric vehicle.

120
00:05:03,760 --> 00:05:06,200
Speaker 2: To top it all off, it also promised self driving

121
00:05:06,480 --> 00:05:09,479
Speaker 2: right hailing taxis to be launched in California and Texas

122
00:05:09,600 --> 00:05:10,080
Speaker 2: next year.

123
00:05:10,160 --> 00:05:12,120
Speaker 1: I mean, man, we know Tesla's share price is down

124
00:05:12,200 --> 00:05:14,240
Speaker 1: fourteen percent compared to the beginning of the year.

125
00:05:14,160 --> 00:05:16,760
Speaker 2: But now it looks like Tesla's shifting its attention in

126
00:05:16,800 --> 00:05:21,040
Speaker 2: a new direction to get investors excited again aka autonomous vehicles.

127
00:05:21,040 --> 00:05:22,000
Speaker 2: Remember that old chestnut.

128
00:05:22,320 --> 00:05:23,600
Speaker 1: So what is the key leading here?

129
00:05:23,680 --> 00:05:27,039
Speaker 2: When competition gets tough, sometimes you need a personality shift

130
00:05:27,120 --> 00:05:28,400
Speaker 2: to really stand out.

131
00:05:28,480 --> 00:05:30,600
Speaker 1: Yeah, but man, we know the electric vehicle market has

132
00:05:30,640 --> 00:05:33,200
Speaker 1: become more established with new players entering the mix and

133
00:05:33,240 --> 00:05:34,919
Speaker 1: giving tough competition to Tesla.

134
00:05:35,040 --> 00:05:37,040
Speaker 2: In fact, Tesla's market share in the US has dropped

135
00:05:37,040 --> 00:05:39,400
Speaker 2: consistently for the last two quarters and is now below

136
00:05:39,440 --> 00:05:40,080
Speaker 2: fifty percent.

137
00:05:40,200 --> 00:05:42,159
Speaker 1: So to bring it back to its glory days, Tesla

138
00:05:42,279 --> 00:05:46,159
Speaker 1: is shifting its focus and it's messaging towards new technology.

139
00:05:45,560 --> 00:05:48,880
Speaker 2: Specifically self driving vehicles and of course AI.

140
00:05:49,000 --> 00:05:50,080
Speaker 1: Why not and be man.

141
00:05:50,120 --> 00:05:52,640
Speaker 2: This is the type of technology that it's hoping investors

142
00:05:52,640 --> 00:05:55,159
Speaker 2: will be very interested in too, as opposed to being

143
00:05:55,200 --> 00:05:57,640
Speaker 2: seen as just another electric vehicle company.

144
00:05:57,640 --> 00:05:59,600
Speaker 1: And b Man kind of reminds me of when BlackBerry

145
00:05:59,640 --> 00:06:01,039
Speaker 1: went through a own rebrand.

146
00:06:01,160 --> 00:06:03,120
Speaker 2: How often is BlackBerry on your mind, JUSSI boy, not

147
00:06:03,200 --> 00:06:05,360
Speaker 2: very often, But they ruled the mobile phone marker back

148
00:06:05,400 --> 00:06:07,360
Speaker 2: in the early twenty tens before they were beat out

149
00:06:07,440 --> 00:06:11,000
Speaker 2: by Apple and Samsung. Instead of doubling down on mobile phones,

150
00:06:11,080 --> 00:06:14,160
Speaker 2: BlackBerry evolved and they picked up a new personality as

151
00:06:14,200 --> 00:06:15,480
Speaker 2: a security software.

152
00:06:15,560 --> 00:06:18,719
Speaker 1: So now Tesla's future with self driving technology and AI

153
00:06:19,080 --> 00:06:21,599
Speaker 1: is the next big thing Flux today. If you fancy

154
00:06:21,600 --> 00:06:23,360
Speaker 1: yourself as being a bit of a smarty pants when

155
00:06:23,400 --> 00:06:25,279
Speaker 1: it comes to business news, there is only one place

156
00:06:25,320 --> 00:06:27,360
Speaker 1: to test out your knowledge. It's in the Flux app.

157
00:06:27,400 --> 00:06:29,480
Speaker 1: During Quick six today where you can win fifty bucks

158
00:06:29,520 --> 00:06:31,400
Speaker 1: to kick off the weekend. To make sure you download

159
00:06:31,400 --> 00:06:33,880
Speaker 1: the Flux app and have notifications turned on to win

160
00:06:34,000 --> 00:06:34,560
Speaker 1: at money.

161
00:06:34,600 --> 00:06:37,640
Speaker 2: Thanks for listening and we'll see you on Monday.