Speaker 1: This is what the Flux.
Speaker 2: I'm Brettan, I'm justin and it's Friday, the twenty fifth
Speaker 2: October Jasey Boy. On Wednesday, we spoke about Wistech, which
Speaker 2: is Scandal City. At the moment, share price has dropped
Speaker 2: more than fifteen percent, and now it's CEO has stepped
Speaker 2: down and will quote transition to a new role in
Speaker 2: the future. Vague stuff and quite ambiguous as well, but
Speaker 2: at least now the company can move forward.
Speaker 1: So true Flux Sam, if you want to have fifty
Speaker 1: bucks in your pocket to kick off the weekend, there
Speaker 1: is always only one place to go every Friday. It's
Speaker 1: directly into the Flux app. To the first person to
Speaker 1: answer three questions correctly, you'll win the fifty bucks. So
Speaker 1: make sure to download the Flux app and turn your
Speaker 1: notifications on to check it out and win at money.
Speaker 2: Three or inspiring stories Today Juzzy Boy, for our first
Speaker 2: Canva has cracked over two hundred million active users as
Speaker 2: it stares to prepare for a future public listening.
Speaker 1: Quite unbelievable to see the evolution of canvas from paint
Speaker 1: two point zero to burto shube two point zero.
Speaker 2: So tell me what's going on here, all right, juzy way, Well,
Speaker 2: as a straight let's be honest, it feels like we've
Speaker 2: seen the growth of Canvas from its very very early days.
Speaker 1: It started back in twenty thirteen with a pretty bold
Speaker 1: plan to take on Adobe with simple ways to design images.
Speaker 2: Think about it your son's first birthday invitation or your
Speaker 2: team's Christmas party.
Speaker 1: And since then it's also grown to become a way
Speaker 1: to design presentations and resumes.
Speaker 2: And now juzzy Boy Cana has announced that it has
Speaker 2: cracked over two hundred million active users.
Speaker 1: Not only that, Beman, but Canvas set its annualized revenue
Speaker 1: was now two and a half billion US dollars.
Speaker 2: And just by the bio juzzy Boy, according to my calculations,
Speaker 2: that's up forty seven percent from the one point seven
Speaker 2: bill just a year ago.
Speaker 1: But be man quite interesting that Canvas has made this
Speaker 1: unscheduled financial update.
Speaker 2: Well, it's all part of their plans to get the
Speaker 2: investment market excited and.
Speaker 1: Get into the rhythm of being a public company.
Speaker 2: Uh huh, So what is the key learning here?
Speaker 1: Publicizing financial performance helps to build credibility with public market investors.
Speaker 2: As a private company, there's no requirement to share your
Speaker 2: financial updates with anyone other than your.
Speaker 1: Shareholders and maybe the tax office.
Speaker 2: HU. Many companies gunning for an IPO will publish financial
Speaker 2: updates to help establish that trust in credibility.
Speaker 1: By showing transparency around revenue and profits and even customer metrics,
Speaker 1: Canva can start to attract investors even before the IPO.
Speaker 2: On top of this, these updates can help create a
Speaker 2: positive narrative around the company as well.
Speaker 1: Yeah, Canva releases information about revenue growth and customers, and
Speaker 1: then they're essentially marketing themselves to potentially investors.
Speaker 2: Now, this storytelling approach not only helps to generate a
Speaker 2: bit of buzz, but also it can impact the IPO valuation.
Speaker 1: Yeah, Airbnb ditta before their IPO and they updated on
Speaker 1: growth and number of listings and geographic expansion. So b Man,
Speaker 1: Canva is wetting the appetite of public market investors with
Speaker 1: their delicious growth and AI vision for the future.
Speaker 2: For our second story, Grilled, the Ossie Burger chain is
Speaker 2: under a bit of scrutiny for finding a loophole to
Speaker 2: pay thousands of workers below minimum industry rates.
Speaker 1: Don't you dare speak badly about grild burgers? B man,
Speaker 1: I will hear nothing of this, but tell me what okay?
Speaker 2: So Grilled obviously, the Ossie Burger chain that specializes in
Speaker 2: what they call healthy burgers.
Speaker 1: Being ingredients of that HERBD Mayo Dip and Chiby's is
Speaker 1: more protected than Colonel Sanders eleven Herbs Advices. Now.
Speaker 2: Grill launched in two thousand and four and now has
Speaker 2: around one hundred and seventy restaurants Australia wide and one
Speaker 2: in semmyak Bali.
Speaker 1: But now be man Grill's being accused of paying thousands
Speaker 1: of workers below minimum industry rates in its latest pay
Speaker 1: deal you.
Speaker 2: See juz Boyd. Typically retail workers like Grilled staff are
Speaker 2: paid according to.
Speaker 1: Award rates, but this new deal is going away from
Speaker 1: the award and focusing on their own enterprise agreement with
Speaker 1: loaded rate.
Speaker 2: The union reckons that premium will disappear pretty quickly.
Speaker 1: And workers will actually dip below the award by July
Speaker 1: next year.
Speaker 2: And this created the first ever strike action in the
Speaker 2: fast food industry last weekend.
Speaker 1: Wow. So what is the key learning here?
Speaker 2: Loaded rates are a method of calculating wages that combine
Speaker 2: base pain with allowances and penalty rates into a single
Speaker 2: rate and be Man. While this can simplify payroll for employers,
Speaker 2: it can often hide the true value for employees. Unions
Speaker 2: think that despite getting ninety three percent of stuff agreeing
Speaker 2: to the deal, it wasn't genuinely agreed to.
Speaker 1: And that's because Grill didn't explain the loaded rates properly
Speaker 1: to their workers.
Speaker 2: Meaning employees might be missing out on some benefits.
Speaker 1: And b Man Grilled eight the only ones accused of
Speaker 1: using illegal loopholes to pay staff less.
Speaker 2: Well, I remember Chocky Shop, Coco Black. They've been accused
Speaker 2: of trying to pull a shifty on hundreds of workers.
Speaker 1: Yep, we're talking pay rises of just one percent per year.
Speaker 2: And even Subway has been getting into the thick of it,
Speaker 2: losing a case at the Fair Work Commission.
Speaker 1: So now it'll be interesting to see whether Grilled staff
Speaker 1: continue flipping those delicious burgers.
Speaker 2: For our third and final story, Tesla's shares jump twelve
Speaker 2: percent after it recorded its third quarter earnings and announced
Speaker 2: plans to launch a ride haling service in twenty twenty five.
Speaker 1: Can't say there's anything surprising about crazily ambitious statements coming
Speaker 1: from Elon Musk, So what is the story? Here.
Speaker 2: Well, Tesla, of course, is the electric vehicle company with
Speaker 2: a market cap of a wopp in six hundred and
Speaker 2: eighty two billion US dollars.
Speaker 1: To put that into perspective, b man, it's worth more
Speaker 1: than the total economy of Austria or Chile.
Speaker 2: Now, juzzy way. Tesla's share price jump of twelve percent
Speaker 2: has followed its third quarter earnings update. Yeah.
Speaker 1: Even though Tesla's revenue didn't quite meet expectations, it announced
Speaker 1: vehicle sales growth for twenty twenty five plans for a
Speaker 1: lower cost electric vehicle.
Speaker 2: To top it all off, it also promised self driving
Speaker 2: right hailing taxis to be launched in California and Texas
Speaker 2: next year.
Speaker 1: I mean, man, we know Tesla's share price is down
Speaker 1: fourteen percent compared to the beginning of the year.
Speaker 2: But now it looks like Tesla's shifting its attention in
Speaker 2: a new direction to get investors excited again aka autonomous vehicles.
Speaker 2: Remember that old chestnut.
Speaker 1: So what is the key leading here?
Speaker 2: When competition gets tough, sometimes you need a personality shift
Speaker 2: to really stand out.
Speaker 1: Yeah, but man, we know the electric vehicle market has
Speaker 1: become more established with new players entering the mix and
Speaker 1: giving tough competition to Tesla.
Speaker 2: In fact, Tesla's market share in the US has dropped
Speaker 2: consistently for the last two quarters and is now below
Speaker 2: fifty percent.
Speaker 1: So to bring it back to its glory days, Tesla
Speaker 1: is shifting its focus and it's messaging towards new technology.
Speaker 2: Specifically self driving vehicles and of course AI.
Speaker 1: Why not and be man.
Speaker 2: This is the type of technology that it's hoping investors
Speaker 2: will be very interested in too, as opposed to being
Speaker 2: seen as just another electric vehicle company.
Speaker 1: And b Man kind of reminds me of when BlackBerry
Speaker 1: went through a own rebrand.
Speaker 2: How often is BlackBerry on your mind, JUSSI boy, not
Speaker 2: very often, But they ruled the mobile phone marker back
Speaker 2: in the early twenty tens before they were beat out
Speaker 2: by Apple and Samsung. Instead of doubling down on mobile phones,
Speaker 2: BlackBerry evolved and they picked up a new personality as
Speaker 2: a security software.
Speaker 1: So now Tesla's future with self driving technology and AI
Speaker 1: is the next big thing Flux today. If you fancy
Speaker 1: yourself as being a bit of a smarty pants when
Speaker 1: it comes to business news, there is only one place
Speaker 1: to test out your knowledge. It's in the Flux app.
Speaker 1: During Quick six today where you can win fifty bucks
Speaker 1: to kick off the weekend. To make sure you download
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Speaker 2: Thanks for listening and we'll see you on Monday.