1 00:00:06,200 --> 00:00:08,560 Speaker 1: This is the weekend edition of Fear and Greed business 2 00:00:08,600 --> 00:00:11,760 Speaker 1: news you can use. I'm Michael Thompson. Good morning, Sean. 3 00:00:11,520 --> 00:00:12,959 Speaker 2: Aylmer, Good morning, Michael. 4 00:00:13,160 --> 00:00:17,279 Speaker 1: Now Sean. Our weekend show is a furious competition. It 5 00:00:17,360 --> 00:00:19,400 Speaker 1: is about the two of us each nominating what we 6 00:00:19,440 --> 00:00:21,799 Speaker 1: think is the biggest business news story of the week, 7 00:00:22,520 --> 00:00:25,720 Speaker 1: most remarkable story, a mystery category that changes every week, 8 00:00:25,760 --> 00:00:30,280 Speaker 1: and then our favorite business related story. It is a debate. 9 00:00:30,720 --> 00:00:34,199 Speaker 1: We need an adjudicator, and every week that judge is 10 00:00:34,240 --> 00:00:37,280 Speaker 1: our Fear and Greed colleague Adam Lang Adam, good morning. 11 00:00:37,080 --> 00:00:38,520 Speaker 3: Hello Michael, Hello Sean. 12 00:00:38,840 --> 00:00:39,160 Speaker 2: Adam. 13 00:00:39,320 --> 00:00:41,360 Speaker 1: What are you looking for this week? Because obviously you're 14 00:00:41,360 --> 00:00:45,000 Speaker 1: marking each category separately, but you apply one very strict 15 00:00:45,000 --> 00:00:46,640 Speaker 1: set of criteria across all. 16 00:00:47,600 --> 00:00:49,480 Speaker 3: I'm going to change the order in which I say 17 00:00:49,479 --> 00:00:50,440 Speaker 3: these today, just for. 18 00:00:50,440 --> 00:00:53,360 Speaker 1: A little bit of that's going to change the outcomes. 19 00:00:54,160 --> 00:00:57,880 Speaker 3: Economic impact number one is that the most important thing, 20 00:00:57,960 --> 00:01:05,440 Speaker 3: Then topicality, then timeliness, then subjective bias, and last is melodrama. 21 00:01:05,640 --> 00:01:09,320 Speaker 1: Is that different to what you normally do? It remarkably similar. 22 00:01:09,520 --> 00:01:12,479 Speaker 3: I've totally changed the data in which I said those things, 23 00:01:12,920 --> 00:01:15,800 Speaker 3: but it's but you're still there still even weighted. 24 00:01:15,880 --> 00:01:19,760 Speaker 2: Right, this is melodrama and I'm doing melodrama. 25 00:01:19,800 --> 00:01:22,280 Speaker 1: I'll tell you what. He has completely thrown me here. 26 00:01:22,200 --> 00:01:23,440 Speaker 2: He said, come the revolution. 27 00:01:24,840 --> 00:01:27,039 Speaker 1: Yes, the best way to demonstrate is how loose these 28 00:01:27,040 --> 00:01:31,520 Speaker 1: criteria are is to actually get cracky, get going, and 29 00:01:31,600 --> 00:01:35,119 Speaker 1: show how that works. The biggest story of the week. Look, 30 00:01:35,120 --> 00:01:38,200 Speaker 1: there is one big story overall that we are just 31 00:01:38,240 --> 00:01:40,360 Speaker 1: going to put to one side. It is obviously the 32 00:01:40,680 --> 00:01:43,000 Speaker 1: crisis in the Middle East and everything that flows on 33 00:01:43,080 --> 00:01:47,440 Speaker 1: through there, because it is it is such an evolving 34 00:01:47,480 --> 00:01:50,920 Speaker 1: situation and things are changing constantly, and it is it's 35 00:01:50,960 --> 00:01:53,600 Speaker 1: too big and too serious and the human impact is 36 00:01:53,640 --> 00:01:56,080 Speaker 1: too great to kind of include it in a debate. 37 00:01:56,200 --> 00:01:57,520 Speaker 1: So a show where we're trying to have a bit 38 00:01:57,520 --> 00:02:00,240 Speaker 1: of fun as well. So we'll acknowledge that one, and 39 00:02:00,240 --> 00:02:01,400 Speaker 1: now we'll look at the other. 40 00:02:01,240 --> 00:02:03,400 Speaker 2: Big I'm not trying to have fun in this show. 41 00:02:04,560 --> 00:02:05,200 Speaker 1: You're here to win. 42 00:02:05,560 --> 00:02:07,120 Speaker 2: I'm here to win, You're here to have fun. 43 00:02:07,280 --> 00:02:09,760 Speaker 1: Yeah, maybe that's just about our mindset that maybe I 44 00:02:09,800 --> 00:02:12,000 Speaker 1: had to change to that mindset after I realized I 45 00:02:12,040 --> 00:02:14,440 Speaker 1: was never going to win. It's like, okay, new goal. 46 00:02:14,560 --> 00:02:17,959 Speaker 2: This could be week biggest story of the week. Notwithstanding 47 00:02:18,000 --> 00:02:21,359 Speaker 2: what you've just said, then, Michael, only one big story 48 00:02:21,400 --> 00:02:23,960 Speaker 2: this week, Adam, because what do we called fear and greed? 49 00:02:24,160 --> 00:02:27,919 Speaker 3: Yeah? Business, business news, you can use. It's all about business, 50 00:02:28,000 --> 00:02:28,960 Speaker 3: isn't it. 51 00:02:29,080 --> 00:02:35,359 Speaker 2: Santos biggest bid for an Australian company in forever, probably 52 00:02:35,360 --> 00:02:38,119 Speaker 2: since after pay was I have to pay this big? 53 00:02:38,200 --> 00:02:39,640 Speaker 1: Yeah? I after pay was thirty nine? 54 00:02:39,840 --> 00:02:43,120 Speaker 2: Yes, okay, so apart from after pay possibly the biggest 55 00:02:43,120 --> 00:02:45,840 Speaker 2: bid for an Australian company ever. Someone's going to stand 56 00:02:46,240 --> 00:02:49,679 Speaker 2: correct me on that, but particularly in a time where 57 00:02:49,680 --> 00:02:51,359 Speaker 2: we haven't actually had a lot going on. To the 58 00:02:51,400 --> 00:02:56,320 Speaker 2: Abu Dhabi National Oil Company, that snappy acronym ad knock 59 00:02:57,000 --> 00:02:59,400 Speaker 2: has made a thirty billion dollar cash bid for Santos. 60 00:02:59,440 --> 00:03:02,280 Speaker 2: That's about six million dollar in debts, values the stock 61 00:03:02,440 --> 00:03:06,600 Speaker 2: at thirty six billion dollars. The big price eight eighty 62 00:03:06,720 --> 00:03:10,840 Speaker 2: nine a share. Now, Santos's share price jumped on this. 63 00:03:11,160 --> 00:03:13,560 Speaker 2: It hasn't been trading at that level for more than 64 00:03:13,560 --> 00:03:17,000 Speaker 2: a decade or so. It's now trading it's under eight 65 00:03:17,000 --> 00:03:19,800 Speaker 2: bucks still, so there's a big arbitrage there. That's because 66 00:03:19,919 --> 00:03:24,680 Speaker 2: it still needs foreign investment clearance. That puts enormous pressure 67 00:03:24,720 --> 00:03:27,000 Speaker 2: on Jim Charmers, he'll have the final say. So, this 68 00:03:27,040 --> 00:03:29,880 Speaker 2: isn't just a business story. It's a political story too, 69 00:03:29,880 --> 00:03:33,880 Speaker 2: because this is the first really big test of M 70 00:03:33,880 --> 00:03:34,080 Speaker 2: and A. 71 00:03:34,200 --> 00:03:35,760 Speaker 3: It's done there, done well there. 72 00:03:35,840 --> 00:03:45,120 Speaker 2: Throw renewables in the excitement, hard to beat. Throw renewables 73 00:03:45,160 --> 00:03:49,040 Speaker 2: in there. Throw the actual energy security, really big one 74 00:03:49,280 --> 00:03:52,160 Speaker 2: on this because you need what we have found out 75 00:03:52,160 --> 00:03:54,800 Speaker 2: really since COVID is the importance of energy security. The 76 00:03:54,840 --> 00:03:57,120 Speaker 2: government has spent a lot of money giving energy rebates. 77 00:03:57,520 --> 00:04:00,680 Speaker 2: Worried about people paying high fees because that feeds into 78 00:04:00,680 --> 00:04:03,080 Speaker 2: the energy security. That feeds in the Santos which is 79 00:04:03,080 --> 00:04:07,280 Speaker 2: a big oil and gas company and Middle Eastern company 80 00:04:07,640 --> 00:04:09,920 Speaker 2: not known for their transparency. That's some of those listening 81 00:04:10,120 --> 00:04:14,560 Speaker 2: governments and companies. Anyway, they've made this big thirty billion 82 00:04:14,560 --> 00:04:18,080 Speaker 2: dollars enterprise value thirty six billion dollars. That's a massive story. 83 00:04:18,160 --> 00:04:20,960 Speaker 2: That's by far the biggest M and A story since 84 00:04:21,040 --> 00:04:23,320 Speaker 2: after pay, So the biggest M and A story over 85 00:04:23,320 --> 00:04:25,000 Speaker 2: the last couple of years. Given that this is a 86 00:04:25,080 --> 00:04:29,560 Speaker 2: business podcast, business news, you can use invest in finance. 87 00:04:30,680 --> 00:04:34,080 Speaker 2: Shove that one right up here. Michael go on, this is. 88 00:04:34,040 --> 00:04:37,040 Speaker 1: A fam on a family show. 89 00:04:37,160 --> 00:04:40,200 Speaker 2: Well, think about it. You were just looking at me 90 00:04:40,960 --> 00:04:43,800 Speaker 2: as you were. You know, you know when you've had 91 00:04:43,880 --> 00:04:45,880 Speaker 2: times in your life where you've gone out with people 92 00:04:46,000 --> 00:04:48,880 Speaker 2: or partnered with people and you're talking and they just 93 00:04:48,880 --> 00:04:51,120 Speaker 2: start rolling their eyes at you, and you know that 94 00:04:51,160 --> 00:04:53,240 Speaker 2: you're in trouble at that point. Well, this is how 95 00:04:53,279 --> 00:04:56,200 Speaker 2: I feel this morning with Michael. The more I spoke. 96 00:04:56,040 --> 00:04:56,719 Speaker 3: Hands on, the more. 97 00:04:59,080 --> 00:05:03,040 Speaker 1: Okay, it was only because you were trying to play 98 00:05:03,080 --> 00:05:06,960 Speaker 1: Adam just then you were really yeah, because you just 99 00:05:07,040 --> 00:05:10,920 Speaker 1: dropped all of these little keywords. It just like renewable energy. 100 00:05:11,080 --> 00:05:13,880 Speaker 1: Just wait for Adam to react, energy security, Wait for 101 00:05:13,920 --> 00:05:15,919 Speaker 1: Adam to react, always one. 102 00:05:15,760 --> 00:05:17,719 Speaker 2: After the other, just so you won't mention reform the 103 00:05:17,720 --> 00:05:18,440 Speaker 2: whole show. 104 00:05:19,760 --> 00:05:20,640 Speaker 1: That's not relevant. 105 00:05:20,640 --> 00:05:20,960 Speaker 2: Sean. 106 00:05:22,360 --> 00:05:25,040 Speaker 1: You talked about Jim Chalmers being under pressure now with 107 00:05:25,080 --> 00:05:27,719 Speaker 1: this decision, I'll tell you another politician that is under 108 00:05:27,760 --> 00:05:31,719 Speaker 1: pressure and under pressure right now, at this very moment. 109 00:05:31,800 --> 00:05:34,720 Speaker 1: He is feeling the pressure. It is our Prime Minister, 110 00:05:35,000 --> 00:05:36,040 Speaker 1: Anthony Albanez oh On. 111 00:05:36,120 --> 00:05:38,760 Speaker 2: He's got the biggest mandate in years and years and years. 112 00:05:38,839 --> 00:05:42,080 Speaker 1: Yeah, indeed, but he's got big pressure that matches that mandate. 113 00:05:42,600 --> 00:05:42,920 Speaker 3: Sean. 114 00:05:43,560 --> 00:05:45,720 Speaker 1: He was a guest at the g seven in Canada 115 00:05:45,760 --> 00:05:47,920 Speaker 1: this week, meeting with a whole bunch of people, whole 116 00:05:47,920 --> 00:05:50,400 Speaker 1: bunch of people on the sidelines of that meeting, like 117 00:05:50,440 --> 00:05:53,400 Speaker 1: Canadian Prime Minister Mark Carney, a few others. But the 118 00:05:53,440 --> 00:05:57,560 Speaker 1: big one, the meeting that was actually going to matter, 119 00:05:57,720 --> 00:06:00,960 Speaker 1: the meeting with US President Donald Trump. It didn't happen. Now, 120 00:06:01,040 --> 00:06:03,480 Speaker 1: he was going to reason with him, The Prime Minister 121 00:06:03,520 --> 00:06:05,320 Speaker 1: was going to reason with the US President, that was 122 00:06:06,240 --> 00:06:11,120 Speaker 1: his word, over tariffs, over orcus, over a whole bunch 123 00:06:11,120 --> 00:06:14,920 Speaker 1: of other things, actual things that matter to us all. 124 00:06:14,960 --> 00:06:17,039 Speaker 1: But the President pulled the pin early, heading home to 125 00:06:17,080 --> 00:06:19,240 Speaker 1: deal with the response to the Middle East crisis, and 126 00:06:19,360 --> 00:06:26,040 Speaker 1: leaving Anthony Alberanezi stranded twiddling his Prime ministerial thumbs, not 127 00:06:26,360 --> 00:06:28,839 Speaker 1: having the meeting that was going to be pivotal and 128 00:06:29,040 --> 00:06:33,920 Speaker 1: absolutely crucial to the future of Australia, the Australian economy 129 00:06:33,960 --> 00:06:37,880 Speaker 1: and Australian democracy. There is a huge amount of pressure, 130 00:06:37,920 --> 00:06:40,240 Speaker 1: the extraordinary pressure on right now. 131 00:06:40,279 --> 00:06:42,719 Speaker 2: Jump in here, Michael, This was going to roll my eyes. 132 00:06:42,800 --> 00:06:45,440 Speaker 2: I'm just going to jump in. So your biggest story 133 00:06:45,440 --> 00:06:48,160 Speaker 2: of the week is something that didn't happen. Yes, excellent, 134 00:06:48,160 --> 00:06:48,359 Speaker 2: go on. 135 00:06:48,400 --> 00:06:50,599 Speaker 1: It's actually almost a bigger fact that it didn't happen 136 00:06:50,680 --> 00:06:52,520 Speaker 1: then if it did, because we all know that probably 137 00:06:52,560 --> 00:06:54,200 Speaker 1: nothing would have come out of it if they'd met. 138 00:06:54,480 --> 00:06:57,360 Speaker 1: When the Prime Minister voiced his concerns over steel tariffs, 139 00:06:57,520 --> 00:07:00,400 Speaker 1: remember months ago, all that came out out of that 140 00:07:00,520 --> 00:07:03,000 Speaker 1: was that Donald Trump said, yeah, will consider it, and 141 00:07:03,040 --> 00:07:05,039 Speaker 1: then they just did it anyway. So the fact that 142 00:07:05,080 --> 00:07:07,080 Speaker 1: it didn't happen this week actually probably made it a 143 00:07:07,080 --> 00:07:09,360 Speaker 1: bigger story because the pressure is on the Prime Minister 144 00:07:09,440 --> 00:07:12,840 Speaker 1: to actually do something, because it's now talking about the 145 00:07:12,840 --> 00:07:14,640 Speaker 1: fact that he might go to Europe, he might go 146 00:07:14,720 --> 00:07:17,560 Speaker 1: to the sidelines of a NATO meeting there instead to 147 00:07:17,560 --> 00:07:20,040 Speaker 1: meet with the Prime Minister. The speculator with the president rather, 148 00:07:20,320 --> 00:07:23,080 Speaker 1: the speculation is that it won't happen, right, he won't 149 00:07:23,120 --> 00:07:26,040 Speaker 1: go because or that if he does go, the meeting 150 00:07:26,040 --> 00:07:30,520 Speaker 1: won't happen. But it would be potentially embarrassing on multiple 151 00:07:30,560 --> 00:07:32,960 Speaker 1: levels for the Prime Minister to go because all the 152 00:07:33,040 --> 00:07:36,200 Speaker 1: NATO countries are there raising their defense spending and that 153 00:07:36,360 --> 00:07:38,040 Speaker 1: is one of the key things. The key demands of 154 00:07:38,080 --> 00:07:40,400 Speaker 1: the President is making up the Prime minister to increase 155 00:07:40,440 --> 00:07:42,320 Speaker 1: defense spending. And of course, why on earth would you 156 00:07:42,360 --> 00:07:44,200 Speaker 1: put yourself right into the middle of that environment where 157 00:07:44,200 --> 00:07:46,760 Speaker 1: everyone's increasing their defense spending and there's Australia saying no, 158 00:07:46,800 --> 00:07:49,040 Speaker 1: we're not going to do it. He risks Trump also 159 00:07:49,120 --> 00:07:51,720 Speaker 1: not turning up. We're not meeting with him. 160 00:07:51,640 --> 00:07:54,360 Speaker 2: If it turns out to see Donald Trump knocks on 161 00:07:54,480 --> 00:07:56,520 Speaker 2: the door and Donald Trump's too busy. 162 00:07:56,640 --> 00:08:01,200 Speaker 1: Yeah, sohile on the pressure this week for the Prime 163 00:08:01,240 --> 00:08:05,240 Speaker 1: Minister to just to go into bat for Australia over tariffs, 164 00:08:05,640 --> 00:08:09,720 Speaker 1: over orcus over the future of Australia's relationship with the 165 00:08:09,800 --> 00:08:13,880 Speaker 1: United States. This has been the I would say this 166 00:08:14,000 --> 00:08:18,120 Speaker 1: has almost been the week that more pressure on the 167 00:08:18,160 --> 00:08:21,440 Speaker 1: Prime minister since federation. 168 00:08:23,400 --> 00:08:26,400 Speaker 2: Good and maybe the prime minister's before federation too, that's 169 00:08:26,400 --> 00:08:27,760 Speaker 2: not sure that we call them. 170 00:08:28,240 --> 00:08:32,760 Speaker 1: Ye, but yeah, the various leaders, the governors. Yes, anyway, 171 00:08:33,080 --> 00:08:36,080 Speaker 1: massive story, It is bigger story of the week. 172 00:08:36,800 --> 00:08:39,800 Speaker 3: So do you remember that when the last election when 173 00:08:40,080 --> 00:08:43,120 Speaker 3: Albanizi won and he was straight on the plane out 174 00:08:43,120 --> 00:08:46,480 Speaker 3: of here. Could he not have done that again this time? 175 00:08:46,559 --> 00:08:49,480 Speaker 3: I mean the big mandate which ended up being ninety 176 00:08:49,520 --> 00:08:52,959 Speaker 3: four seats in the Lower House, right, he was safe 177 00:08:52,960 --> 00:08:55,800 Speaker 3: and secure to go, get on a plane and go 178 00:08:55,880 --> 00:08:58,480 Speaker 3: because I think there's a fair criticism that he hasn't 179 00:08:58,520 --> 00:08:59,800 Speaker 3: sought out the meeting with Trump. 180 00:09:01,320 --> 00:09:03,240 Speaker 2: Far be it, far be it for me to stand 181 00:09:03,320 --> 00:09:06,040 Speaker 2: up for Anthony album and easy right. But on that instance, yes, 182 00:09:06,160 --> 00:09:11,000 Speaker 2: that was the meaning that the Indian, Japanese, US and 183 00:09:11,280 --> 00:09:14,760 Speaker 2: Australian leaders met in Washington and Joe Biden said, I 184 00:09:14,800 --> 00:09:16,959 Speaker 2: can't believe you just jumped on a plane after after 185 00:09:17,000 --> 00:09:17,400 Speaker 2: that win. 186 00:09:17,800 --> 00:09:18,720 Speaker 3: That was to his credit. 187 00:09:18,800 --> 00:09:20,720 Speaker 2: I think it was to his credit. But there's an 188 00:09:20,800 --> 00:09:23,760 Speaker 2: organized meeting. I reckon Albanize could have turned up and 189 00:09:23,800 --> 00:09:25,439 Speaker 2: knocked on the White House tour and saying I'm here. 190 00:09:25,559 --> 00:09:29,160 Speaker 2: And in actual fact, to Michael's point, most Australian leaders 191 00:09:29,240 --> 00:09:33,520 Speaker 2: first international trips now are either Indonesia or maybe New Zealand. 192 00:09:33,640 --> 00:09:36,400 Speaker 3: I think he could have done both, but you know, 193 00:09:38,040 --> 00:09:41,800 Speaker 3: a bit harsh. Well, no, the pressures on, I think 194 00:09:41,880 --> 00:09:45,080 Speaker 3: it is. And so look in essence both of your stories. 195 00:09:45,080 --> 00:09:48,520 Speaker 3: The Sandos bid has not yet happened. It has happened, 196 00:09:48,679 --> 00:09:51,800 Speaker 3: the bids, the bit has happened, but it's not approved. 197 00:09:52,000 --> 00:09:55,240 Speaker 3: It's not a done Doyle, it's not binding. 198 00:09:55,520 --> 00:09:58,840 Speaker 2: Oh come on, no, okay, I'm going to I'm not 199 00:09:58,880 --> 00:10:00,000 Speaker 2: liking the way you're going here. 200 00:10:00,240 --> 00:10:04,040 Speaker 3: The meeting in the G seven didn't happen, which I 201 00:10:04,040 --> 00:10:05,400 Speaker 3: think is really curious. 202 00:10:05,440 --> 00:10:08,320 Speaker 1: So good battle significant, But in the end. 203 00:10:08,559 --> 00:10:11,440 Speaker 2: The bid did happen, though, make your judgment. 204 00:10:13,640 --> 00:10:16,680 Speaker 1: The bid did happen before and the Prime Minister did 205 00:10:16,760 --> 00:10:20,479 Speaker 1: get stood up by it's. 206 00:10:19,559 --> 00:10:22,320 Speaker 2: Had the big games ahead before you give your decision. Well, 207 00:10:22,400 --> 00:10:24,760 Speaker 2: and we say, oh, the BID's gone through. Would that 208 00:10:24,800 --> 00:10:26,160 Speaker 2: win the biggest story of the week. No, No, know, 209 00:10:26,200 --> 00:10:27,320 Speaker 2: We've known about that for months. 210 00:10:27,679 --> 00:10:30,280 Speaker 3: No. I think the biggest business story of the week 211 00:10:30,520 --> 00:10:33,800 Speaker 3: is the bid. And so by add not to Santos, 212 00:10:34,040 --> 00:10:35,720 Speaker 3: it is a massive. 213 00:10:37,120 --> 00:10:38,560 Speaker 2: I feel like I'm attacking you. 214 00:10:38,760 --> 00:10:44,160 Speaker 3: I'm looking for everyone everyone you did want there you go, 215 00:10:44,360 --> 00:10:44,839 Speaker 3: you did win? 216 00:10:45,000 --> 00:10:46,600 Speaker 2: Well, I will I will. 217 00:10:46,480 --> 00:10:49,840 Speaker 3: Show because it's a massive bid and a hugely significant decision. 218 00:10:50,360 --> 00:10:53,400 Speaker 1: So I think that has had to win judgment decision 219 00:10:53,440 --> 00:10:56,719 Speaker 1: that has not yet been made, but I means been made. Yeah, 220 00:10:56,720 --> 00:10:58,559 Speaker 1: the bid has been made, but I mean the pressure 221 00:10:58,600 --> 00:11:00,360 Speaker 1: is now on the treasure. 222 00:11:01,520 --> 00:11:04,000 Speaker 3: In search of the Holy Grail. Let's not bicker and 223 00:11:04,200 --> 00:11:05,679 Speaker 3: argue over who killed her? 224 00:11:05,720 --> 00:11:07,840 Speaker 2: Who come over it? I'm over it. I think I'm 225 00:11:07,880 --> 00:11:09,719 Speaker 2: about to have my first dummies fit of the year, 226 00:11:09,720 --> 00:11:10,599 Speaker 2: and I'm really. 227 00:11:11,360 --> 00:11:14,360 Speaker 1: Dummy spit of the year. Yeah, well today dommy spit 228 00:11:14,480 --> 00:11:17,319 Speaker 1: number eight, Thank you very much. It's pretty much a 229 00:11:17,320 --> 00:11:18,280 Speaker 1: monthly occurrence. 230 00:11:18,360 --> 00:11:20,559 Speaker 2: I remember last year I refused to do economics for 231 00:11:20,640 --> 00:11:24,360 Speaker 2: six months because of the nine months all in judging 232 00:11:24,440 --> 00:11:27,440 Speaker 2: and carry on by Michael, which I stuck by. I'm 233 00:11:27,440 --> 00:11:28,520 Speaker 2: being much calmer this year. 234 00:11:28,520 --> 00:11:30,559 Speaker 1: I'm going to refuse to do em and a activity now. 235 00:11:30,760 --> 00:11:35,760 Speaker 1: So just rightly fearing for a fight, a furious fella today, 236 00:11:36,000 --> 00:11:38,640 Speaker 1: Sean is all right, let's move on to the most 237 00:11:38,720 --> 00:11:39,880 Speaker 1: remarkable story. 238 00:11:39,960 --> 00:11:41,360 Speaker 2: You go first, Just a quick. 239 00:11:41,120 --> 00:11:41,680 Speaker 1: One from me. 240 00:11:42,280 --> 00:11:45,800 Speaker 2: Yeah, yeah, yeah, super fun. Oh yeah. 241 00:11:45,880 --> 00:11:51,080 Speaker 1: Closing in on another stellar financial year. 242 00:11:51,200 --> 00:11:51,960 Speaker 2: So have they done it? 243 00:11:52,320 --> 00:11:56,959 Speaker 1: Closing in? I tell you what they've achieved. They've achieved 244 00:11:57,040 --> 00:12:00,360 Speaker 1: eleven and a half out of twelve month so. 245 00:12:00,360 --> 00:12:02,520 Speaker 2: They've achieved for closing into this. 246 00:12:02,960 --> 00:12:07,200 Speaker 1: Ninety six percent or they're about the medium growth fund 247 00:12:07,240 --> 00:12:10,079 Speaker 1: set to return around nine percent. Now, that would make 248 00:12:10,200 --> 00:12:13,520 Speaker 1: three years in a row of outsize returns, three years 249 00:12:13,520 --> 00:12:17,880 Speaker 1: in a row, nine percent in three That is a trifecta. 250 00:12:18,120 --> 00:12:20,120 Speaker 1: That is a hat trick of years. That is way 251 00:12:20,160 --> 00:12:23,920 Speaker 1: way way above targets. And despite all the market volatility, 252 00:12:24,000 --> 00:12:26,920 Speaker 1: this year, the huge swings in equities, the tariff chaos, 253 00:12:26,920 --> 00:12:29,520 Speaker 1: super funds have come through the other side, threes of 254 00:12:29,600 --> 00:12:31,880 Speaker 1: nine percent or more of that effects every single one 255 00:12:31,880 --> 00:12:32,120 Speaker 1: of us. 256 00:12:32,160 --> 00:12:34,800 Speaker 2: And I've used that line. He doesn't like it. They 257 00:12:34,840 --> 00:12:37,480 Speaker 2: are super fun. Common think we've got common big and 258 00:12:37,520 --> 00:12:40,040 Speaker 2: have super fun. Adam doesn't care. 259 00:12:40,920 --> 00:12:44,280 Speaker 1: Yes, but today he really wants to demonstrate how the 260 00:12:44,320 --> 00:12:47,600 Speaker 1: criteria apply to every category. So I'm just I'm trying 261 00:12:47,600 --> 00:12:48,360 Speaker 1: to go by the book. 262 00:12:48,880 --> 00:12:50,559 Speaker 2: Shut up, it is That's it. 263 00:12:50,600 --> 00:12:53,400 Speaker 1: I'm done, and at brevity as well. It is it 264 00:12:53,640 --> 00:12:56,400 Speaker 1: because these figures. I don't need to add the melodrama, 265 00:12:56,800 --> 00:13:01,040 Speaker 1: because the drama is in this nine percent three years 266 00:13:01,040 --> 00:13:03,640 Speaker 1: in a row. That is staggering. It means that if 267 00:13:03,679 --> 00:13:06,280 Speaker 1: you log in and check your superannuation balance, you're like, oh, 268 00:13:06,920 --> 00:13:11,000 Speaker 1: I'm actually feeling pretty good. Imagine that three. 269 00:13:10,840 --> 00:13:13,120 Speaker 2: Years in it hour doin. I mean, that is remarkable. 270 00:13:13,120 --> 00:13:14,440 Speaker 2: But do you know what it would be even better? 271 00:13:14,480 --> 00:13:16,680 Speaker 2: Make you feel even better? What you wake up every 272 00:13:16,679 --> 00:13:22,440 Speaker 2: morning think oh, I've got a job, because because pretty 273 00:13:22,480 --> 00:13:26,320 Speaker 2: much everyone does. In fact, we had unemployment figures this 274 00:13:26,400 --> 00:13:30,920 Speaker 2: week showing four point one percent unemployment rate five months 275 00:13:30,960 --> 00:13:33,240 Speaker 2: in a row. Even though we lost a few jobs 276 00:13:33,240 --> 00:13:37,120 Speaker 2: in May, we got again close to ninety thousand in April. 277 00:13:37,120 --> 00:13:40,720 Speaker 2: The trend is your friend. As Michael likes to say regularly. 278 00:13:40,840 --> 00:13:43,640 Speaker 1: Frequently, the trend is your favorite, saying. 279 00:13:43,480 --> 00:13:46,640 Speaker 2: What's remarkable is this employment market. We have a slight down. 280 00:13:46,720 --> 00:13:49,240 Speaker 2: The economy is growing at less than two percent. We're 281 00:13:49,240 --> 00:13:52,080 Speaker 2: calling for interest rate hikes, yet we still have unemployment 282 00:13:52,080 --> 00:13:56,280 Speaker 2: at four point one percent. That is remarkable. That's got 283 00:13:56,280 --> 00:13:59,320 Speaker 2: people waking up in the morning going, I got a job, 284 00:13:59,640 --> 00:14:05,280 Speaker 2: I feel better. I feel remarkable about that. Femal the 285 00:14:05,320 --> 00:14:07,560 Speaker 2: FEMA for even in the morning, go back to get 286 00:14:07,640 --> 00:14:11,160 Speaker 2: in the studio this morning. Let's go female participation right, 287 00:14:11,559 --> 00:14:17,439 Speaker 2: sixty nine point nine percent all time record, remarkable. I'm 288 00:14:17,480 --> 00:14:19,080 Speaker 2: not even going to go on anymore. I think, I mean, 289 00:14:19,280 --> 00:14:22,840 Speaker 2: brevity is the friend of success. 290 00:14:22,960 --> 00:14:26,320 Speaker 1: I mean, just on what it is, just on the numbers. 291 00:14:26,320 --> 00:14:30,600 Speaker 1: More people have superannuation funds, a superannuation accounts than have jobs. 292 00:14:31,240 --> 00:14:32,560 Speaker 2: Well, that's probably not right. 293 00:14:32,720 --> 00:14:36,640 Speaker 1: I reckon it is because you've got all the are 294 00:14:36,680 --> 00:14:37,960 Speaker 1: you making matter or. 295 00:14:40,640 --> 00:14:45,280 Speaker 2: Technically they're not superannovation accounts fine accounts. 296 00:14:44,880 --> 00:14:49,040 Speaker 1: Or yeah, so anyway, but more people are affected by 297 00:14:49,240 --> 00:14:51,480 Speaker 1: you know what, Adam just make your judgment. It feels like, 298 00:14:51,720 --> 00:14:54,720 Speaker 1: very well, we have spent too much time arguing on 299 00:14:54,920 --> 00:14:57,400 Speaker 1: minor technicality. Michael wins, there we. 300 00:14:57,360 --> 00:15:02,560 Speaker 3: Go, So reason is mine was boring? No, it's actually 301 00:15:02,680 --> 00:15:05,720 Speaker 3: just so reassuring. The unemployment rate at four point one percent, 302 00:15:05,800 --> 00:15:11,040 Speaker 3: it's incredibly positive water So it's little bit fuzzy. I 303 00:15:11,080 --> 00:15:13,080 Speaker 3: do you know the peace of mind that people get 304 00:15:13,120 --> 00:15:16,560 Speaker 3: through having jobs is immense, But in this instance, this week, 305 00:15:16,840 --> 00:15:18,400 Speaker 3: and we're closing it on. 306 00:15:18,320 --> 00:15:21,440 Speaker 2: That number hand movement going on with Adams this morning, 307 00:15:22,000 --> 00:15:22,360 Speaker 2: not at all. 308 00:15:22,680 --> 00:15:23,240 Speaker 3: I'll tell you what. 309 00:15:23,400 --> 00:15:27,000 Speaker 1: I watched a video of myself through the week that 310 00:15:27,040 --> 00:15:29,240 Speaker 1: we posted we posted on Instagram. 311 00:15:29,440 --> 00:15:32,480 Speaker 2: Right, let me rewatch this. Oh, yes, I do. 312 00:15:32,560 --> 00:15:34,320 Speaker 1: I do have a tendency. It's one of my favorite 313 00:15:34,320 --> 00:15:37,120 Speaker 1: things to watch me. But anyway, we post a lot 314 00:15:37,120 --> 00:15:39,040 Speaker 1: of stuff on our Instagram account. You can follow us 315 00:15:39,080 --> 00:15:43,800 Speaker 1: Fear and Greed podcast. And I wave my hands around 316 00:15:43,840 --> 00:15:45,080 Speaker 1: too much when I speak. 317 00:15:45,240 --> 00:15:47,360 Speaker 3: I actually lookious it. 318 00:15:47,480 --> 00:15:49,600 Speaker 1: I was there talking about kind of the three numbers 319 00:15:49,600 --> 00:15:51,240 Speaker 1: of the week. I'm doing it again now, and I 320 00:15:51,280 --> 00:15:53,080 Speaker 1: was talking about kind of a whole stack of stuff, 321 00:15:53,400 --> 00:15:55,560 Speaker 1: and I talk with my hands way too much. I 322 00:15:55,640 --> 00:15:59,080 Speaker 1: watched it and it actually looked like there would be 323 00:15:59,080 --> 00:16:01,120 Speaker 1: a problem there, maybe problem, thank you. I was trying 324 00:16:01,120 --> 00:16:03,760 Speaker 1: to be delicate around this, and so now I've become 325 00:16:03,800 --> 00:16:06,160 Speaker 1: really self conscious about how much I move my hands, 326 00:16:06,160 --> 00:16:07,720 Speaker 1: and now I put it in my pockets, which I've 327 00:16:07,720 --> 00:16:10,479 Speaker 1: got to say looks even more suss Like I'm understanding 328 00:16:10,520 --> 00:16:13,160 Speaker 1: here with you fellas, just with my hands in my pockets, 329 00:16:13,240 --> 00:16:16,000 Speaker 1: Like what are you doing over there? Michael nonchalant anyway, 330 00:16:16,120 --> 00:16:17,720 Speaker 1: watching your hands now, Adam. 331 00:16:17,760 --> 00:16:21,240 Speaker 3: Hm, So it's one all you won? 332 00:16:22,480 --> 00:16:24,960 Speaker 1: That feels like a long time ago, doesn't I did 333 00:16:25,000 --> 00:16:27,880 Speaker 1: say that, but it seemed to get lost. Sorry translation, No, 334 00:16:27,960 --> 00:16:31,080 Speaker 1: that's a good point. Okay, one all very quick break. 335 00:16:31,440 --> 00:16:34,320 Speaker 1: We will come back in a moment and going, oh, 336 00:16:34,360 --> 00:16:37,440 Speaker 1: we've got a great mystery category this week, Adam, you 337 00:16:37,960 --> 00:16:49,120 Speaker 1: are going to love it. Back in a moment, all right, Sean, 338 00:16:49,200 --> 00:16:52,040 Speaker 1: We are now moving on to our mystery category of 339 00:16:52,080 --> 00:16:54,400 Speaker 1: the week. It changes every week so that Adam can't 340 00:16:54,440 --> 00:16:59,600 Speaker 1: possibly prepare for it. This week. You don't need a category. 341 00:16:59,640 --> 00:17:03,480 Speaker 1: You don't even need to prepare for this one, because 342 00:17:03,560 --> 00:17:08,480 Speaker 1: this mystery category is stories that only Adam could laugh 343 00:17:09,600 --> 00:17:13,200 Speaker 1: right there. These are good stories, but we are focusing 344 00:17:13,320 --> 00:17:15,880 Speaker 1: on the parts of these stories that are really going 345 00:17:15,920 --> 00:17:17,200 Speaker 1: to appeal to your subjectives. 346 00:17:17,240 --> 00:17:20,600 Speaker 3: I've become the subject here. That my most uncomfortable space. 347 00:17:20,960 --> 00:17:24,680 Speaker 2: Sometimes when we talk in this show about stories, you 348 00:17:24,720 --> 00:17:30,159 Speaker 2: pick particular points that we've mentioned in passing, you elaborate 349 00:17:30,840 --> 00:17:34,679 Speaker 2: on those particular points, and Michael and I like, so, 350 00:17:34,760 --> 00:17:38,200 Speaker 2: who cares about that? And so we decided there's definitely 351 00:17:38,240 --> 00:17:38,840 Speaker 2: a category. 352 00:17:38,920 --> 00:17:39,800 Speaker 3: We found one. 353 00:17:40,320 --> 00:17:44,600 Speaker 2: There's definitely a category for the stories that no one 354 00:17:44,680 --> 00:17:46,879 Speaker 2: we're going to give two hurts about except for Adam. 355 00:17:46,920 --> 00:17:48,800 Speaker 2: And it might even be part within a story. 356 00:17:48,880 --> 00:17:51,639 Speaker 1: Oh good, I would I have to go first on this. 357 00:17:52,200 --> 00:17:53,800 Speaker 2: I think it's fair to say mine is part within 358 00:17:53,840 --> 00:17:56,200 Speaker 2: a story and yours is the whole story. Oh yeah, yeah, 359 00:17:56,240 --> 00:18:03,560 Speaker 2: oh yeah, yeah right, so my story is coming. I 360 00:18:03,600 --> 00:18:07,199 Speaker 2: can't remember what my story is so narrow. Yes, So 361 00:18:07,800 --> 00:18:11,400 Speaker 2: this came from the Australian Council of Superannuation Investors this week. Right, 362 00:18:11,760 --> 00:18:12,560 Speaker 2: it's a great story. 363 00:18:12,640 --> 00:18:14,600 Speaker 3: Excellent interview yesterday, Sean. 364 00:18:14,359 --> 00:18:20,040 Speaker 2: Thank you. It's one hundred and fifty CEOs what they're remunerated. 365 00:18:20,160 --> 00:18:26,520 Speaker 2: Robert Thompson from News Court number one, the guy from Yeah, 366 00:18:26,640 --> 00:18:29,960 Speaker 2: Victor Herrero, Sorry Victor, Victor Herrero from Lavisa. He came 367 00:18:29,960 --> 00:18:32,880 Speaker 2: into number two highest paid Australian and it goes down 368 00:18:33,040 --> 00:18:37,200 Speaker 2: right Shamarack Ramena Yak from acquaried number two. Goodman's Greg Goodman, 369 00:18:37,480 --> 00:18:42,679 Speaker 2: Resme's Mick Fowl. That's good all very interested in that. Literally, 370 00:18:42,760 --> 00:18:49,840 Speaker 2: dull part I saw your lights open up. So the 371 00:18:49,920 --> 00:18:54,000 Speaker 2: average is four point one five million dollars, right, a 372 00:18:54,000 --> 00:18:57,400 Speaker 2: lot of mone number, a lot of money, fifty five 373 00:18:57,480 --> 00:19:03,040 Speaker 2: times average average. Ten years ago it was four million, 374 00:19:03,119 --> 00:19:05,760 Speaker 2: except se he knows it. He knows it. It's gone 375 00:19:05,840 --> 00:19:09,480 Speaker 2: from seventy seven to fifty five times. We are becoming 376 00:19:09,480 --> 00:19:16,320 Speaker 2: more egalitarian our state. The CEOs aren't earning elite, the elite. 377 00:19:15,960 --> 00:19:19,359 Speaker 3: Too far and everybody else. You're with me, I am it's. 378 00:19:19,240 --> 00:19:21,320 Speaker 2: Health thought about It's healthy, isn't it? Is it good? 379 00:19:21,440 --> 00:19:21,640 Speaker 3: Yeah? 380 00:19:21,760 --> 00:19:22,240 Speaker 2: Isn't really? 381 00:19:22,400 --> 00:19:22,760 Speaker 3: I believe that. 382 00:19:22,920 --> 00:19:26,000 Speaker 2: What about the fact that the big bank CEOs. 383 00:19:25,440 --> 00:19:27,119 Speaker 3: I think you're going to catch me on something. 384 00:19:28,280 --> 00:19:30,800 Speaker 2: What about the think that the big bank CEOs really 385 00:19:30,800 --> 00:19:34,679 Speaker 2: aren't top twenty Well that's commons under eighteen. But the 386 00:19:34,720 --> 00:19:36,200 Speaker 2: big banks actually. 387 00:19:35,960 --> 00:19:38,720 Speaker 3: Who have remunerate huge roles in terms of employees and 388 00:19:38,760 --> 00:19:40,520 Speaker 3: capital based shareholders. 389 00:19:40,640 --> 00:19:44,960 Speaker 2: Yes, oh, running running the economy. Yes, yes, what about 390 00:19:44,960 --> 00:19:48,720 Speaker 2: the fact that ASX one hundred companies and the top companies, 391 00:19:48,760 --> 00:19:52,680 Speaker 2: they're kind of constant ten ing the word a little 392 00:19:52,680 --> 00:19:56,000 Speaker 2: bit condensing, And so it's actually slowly, as we found 393 00:19:56,000 --> 00:19:59,960 Speaker 2: out from Ed yesterday, our friend ed John from Acts, 394 00:20:01,119 --> 00:20:07,640 Speaker 2: it's sort of improving. We're pushing more towards remuneration from performance. 395 00:20:07,640 --> 00:20:09,359 Speaker 2: We're not there, but we're heading in the right direction. 396 00:20:10,000 --> 00:20:13,240 Speaker 2: Is it all that stuff really really good? Boring? As 397 00:20:13,280 --> 00:20:17,560 Speaker 2: competitive fact that someone known forty two million bucks? Right, However, 398 00:20:18,320 --> 00:20:21,479 Speaker 2: you actually filled in the gaps here. This is exciting stuff. 399 00:20:21,560 --> 00:20:25,159 Speaker 2: This is the sort of this is good. This is 400 00:20:25,160 --> 00:20:27,520 Speaker 2: the sort of story that this part of the story 401 00:20:27,520 --> 00:20:31,919 Speaker 2: no one cares about. Well done, Michael taking home. I 402 00:20:31,920 --> 00:20:33,879 Speaker 2: know what you're I don't think I've got much of 403 00:20:33,880 --> 00:20:35,640 Speaker 2: a chance, but I'm liking it. 404 00:20:36,520 --> 00:20:39,639 Speaker 1: That was sickening. But yeah, and it's hard for me 405 00:20:39,680 --> 00:20:42,719 Speaker 1: to criticize because I'm about to do the same thing Adam. 406 00:20:42,920 --> 00:20:43,800 Speaker 3: But it's not boring. 407 00:20:44,280 --> 00:20:49,640 Speaker 1: No, no, no, no, no, not to the person with the scoreshame. Yes, Adam, 408 00:20:50,240 --> 00:20:54,680 Speaker 1: your wish one of your most fervent life desires. Yes, 409 00:20:55,040 --> 00:20:58,680 Speaker 1: you've got three goals in life, and one of them 410 00:20:58,720 --> 00:21:01,600 Speaker 1: involves the abolition of a certain level of government. 411 00:21:01,680 --> 00:21:04,000 Speaker 3: Yes, we've got three. Yes, I think there's room for two. 412 00:21:04,160 --> 00:21:04,400 Speaker 2: Yep. 413 00:21:05,200 --> 00:21:08,640 Speaker 1: Then there is another goal that I don't remember, flat tax. Oh, 414 00:21:08,640 --> 00:21:11,440 Speaker 1: that's kind of the one I was actually getting at. 415 00:21:12,440 --> 00:21:13,280 Speaker 1: What's the third one there? 416 00:21:13,320 --> 00:21:15,520 Speaker 3: Well, it's the four day working week if you want it, 417 00:21:15,840 --> 00:21:17,200 Speaker 3: and I think we're largely daring. 418 00:21:17,240 --> 00:21:18,879 Speaker 2: We're about three two and a half days if you 419 00:21:18,920 --> 00:21:19,239 Speaker 2: want it. 420 00:21:19,400 --> 00:21:20,280 Speaker 3: Yeah, well you can. 421 00:21:20,480 --> 00:21:22,000 Speaker 2: I think it's one of three. 422 00:21:22,119 --> 00:21:26,160 Speaker 1: Okay, back to number two. Okay, the big number two 423 00:21:28,640 --> 00:21:35,240 Speaker 1: that wish for tax reform might just becoming true. 424 00:21:35,600 --> 00:21:36,480 Speaker 3: Treasure we hope. 425 00:21:37,280 --> 00:21:42,960 Speaker 1: Treasurer Jim Chalmers has flagged an overhaul of the tax system. 426 00:21:43,000 --> 00:21:45,879 Speaker 1: He used his first major speech post election at the 427 00:21:45,920 --> 00:21:48,399 Speaker 1: National Press Club to do this, to suggest that the 428 00:21:48,440 --> 00:21:53,080 Speaker 1: government is going to use its mighty mandate to tackle 429 00:21:53,160 --> 00:21:57,720 Speaker 1: tax reform. Focus on lifting productivity, focus on lifting investment, 430 00:21:57,840 --> 00:22:01,800 Speaker 1: and focus on lowering the income tax burden, because by 431 00:22:01,840 --> 00:22:04,199 Speaker 1: the end of the decade, the income tax burden is 432 00:22:04,240 --> 00:22:06,320 Speaker 1: going to hit its highest level since the introduction of 433 00:22:06,359 --> 00:22:08,560 Speaker 1: the GST. There's a whole bunch of other things that 434 00:22:08,560 --> 00:22:11,960 Speaker 1: have been put forward, potentially by Treasury. High taxes, on 435 00:22:12,040 --> 00:22:18,679 Speaker 1: family trusts and electric vehicle drivers exactly, exactly, yawn away. 436 00:22:19,840 --> 00:22:23,200 Speaker 1: I encourage yawning. I encourage yawning because all of these 437 00:22:23,240 --> 00:22:27,440 Speaker 1: bits and pieces, Adam, Wait, wait, because I agree, all 438 00:22:27,480 --> 00:22:29,920 Speaker 1: of these little bits and pieces are like okay, yeah yeah, yeah, yeah, 439 00:22:29,960 --> 00:22:33,400 Speaker 1: yeah yeah yeah. Because what they are not talking about, though, 440 00:22:33,800 --> 00:22:38,720 Speaker 1: is the big thing that they need to talk about, right, 441 00:22:39,160 --> 00:22:45,320 Speaker 1: g ST, and the Treasurer has been very lukewarm on 442 00:22:45,480 --> 00:22:46,160 Speaker 1: including that. 443 00:22:47,760 --> 00:22:48,359 Speaker 3: Exactly. 444 00:22:48,560 --> 00:22:52,159 Speaker 1: There is reform, but there is insufficient reform and it 445 00:22:52,240 --> 00:22:55,119 Speaker 1: is a waste of a mandate. The issue here, Adam, 446 00:22:55,160 --> 00:22:57,760 Speaker 1: and I'm sorry to point, but I'm very passionate there 447 00:22:57,840 --> 00:23:02,520 Speaker 1: is The issue here is Sean. The issue here, Adam. 448 00:23:02,400 --> 00:23:03,080 Speaker 2: Is the idea. 449 00:23:03,119 --> 00:23:07,000 Speaker 4: What you're talking about courage, a lack of courage, a 450 00:23:07,160 --> 00:23:11,359 Speaker 4: lack of political courage, because any true debate, any meaningful 451 00:23:11,400 --> 00:23:14,919 Speaker 4: debate over tax reform, needs to include the GST. 452 00:23:15,040 --> 00:23:19,159 Speaker 1: And the potential to increase the GST very risky obviously 453 00:23:19,240 --> 00:23:22,360 Speaker 1: from a political perspective. But isn't that why the government 454 00:23:22,520 --> 00:23:25,520 Speaker 1: has a mandate. They have a mandate to do something, 455 00:23:25,560 --> 00:23:28,000 Speaker 1: to just get in there and do something and really 456 00:23:28,080 --> 00:23:31,200 Speaker 1: sell this in right, Because if we're serious about tax reform, 457 00:23:31,200 --> 00:23:33,440 Speaker 1: and Jim Chalmer sounded like you were serious about tax 458 00:23:33,440 --> 00:23:35,239 Speaker 1: reform this week when he was talking about it. Then 459 00:23:35,280 --> 00:23:37,960 Speaker 1: it needs to be full, frank, honest, and it needs 460 00:23:38,000 --> 00:23:41,880 Speaker 1: to include the GST. Anything less would be a disgrace. 461 00:23:41,960 --> 00:23:44,680 Speaker 1: What's this got to do with the category that i'm anymore. 462 00:23:44,800 --> 00:23:49,840 Speaker 1: I'm just I've actually just borrowed Adam's platform. But don't 463 00:23:49,880 --> 00:23:53,720 Speaker 1: you don't you think here we had the running it 464 00:23:53,800 --> 00:23:56,880 Speaker 1: up the flag pole this week about about tax reform, 465 00:23:57,119 --> 00:24:00,000 Speaker 1: and yet again and yet there is the potential here 466 00:24:00,119 --> 00:24:03,080 Speaker 1: of wasting this majority and wasting this mandate. Get in 467 00:24:03,119 --> 00:24:04,880 Speaker 1: there and actually do something. 468 00:24:05,320 --> 00:24:08,199 Speaker 3: Well, that's why it can't win, because it's not going 469 00:24:08,280 --> 00:24:08,760 Speaker 3: to happen. 470 00:24:09,160 --> 00:24:13,359 Speaker 1: You know what you are encouraging, You are enabling Jim 471 00:24:13,440 --> 00:24:16,480 Speaker 1: Chalmers right now by not allowing that to be the 472 00:24:16,560 --> 00:24:17,440 Speaker 1: story of the week. 473 00:24:17,680 --> 00:24:21,280 Speaker 2: I did not think I had a chance. Well, look 474 00:24:21,400 --> 00:24:22,680 Speaker 2: wherever I. 475 00:24:22,600 --> 00:24:25,399 Speaker 3: Think, I'm in fierce agreement with Michael on it's just 476 00:24:25,520 --> 00:24:29,640 Speaker 3: talk again. As we've had papers, white papers, so many 477 00:24:29,680 --> 00:24:35,840 Speaker 3: research studies, nothing has happened, and already before it's begun 478 00:24:36,119 --> 00:24:39,920 Speaker 3: this other review and chat, we're ruling out the GST 479 00:24:40,160 --> 00:24:44,240 Speaker 3: change that is actually fundamental to change if anything's really 480 00:24:44,240 --> 00:24:48,280 Speaker 3: going to change. So the actual that CEOs, that boards 481 00:24:48,600 --> 00:24:53,840 Speaker 3: and shareholders are monitoring and judging public leaders to companies 482 00:24:53,840 --> 00:24:56,920 Speaker 3: to make sure that their CEOP is reasonable. And this 483 00:24:56,960 --> 00:24:59,120 Speaker 3: is an outcome that's much better. It's really good work 484 00:25:00,119 --> 00:25:00,600 Speaker 3: that wins. 485 00:25:01,119 --> 00:25:05,920 Speaker 1: Which one this is outrageous. 486 00:25:06,640 --> 00:25:08,480 Speaker 3: So it's in the bank. It's done. 487 00:25:08,520 --> 00:25:11,520 Speaker 2: Can I I don't want to protest a win. 488 00:25:13,000 --> 00:25:16,040 Speaker 1: Go on, please, So I beat. 489 00:25:15,880 --> 00:25:19,960 Speaker 3: Tax reform because this is reform in CEO that's actually 490 00:25:20,000 --> 00:25:23,359 Speaker 3: happened in making progress, as against something that's just another 491 00:25:23,480 --> 00:25:26,040 Speaker 3: chat fest and probably won't give us the reform. 492 00:25:26,119 --> 00:25:28,840 Speaker 1: You know what I'm sensing. The trend is your friend here, Sean, 493 00:25:29,320 --> 00:25:31,840 Speaker 1: And the trend over a long time now has shown 494 00:25:31,920 --> 00:25:36,600 Speaker 1: us that Adam severely marks down stories that are yet 495 00:25:37,000 --> 00:25:40,600 Speaker 1: to take place. But all our stories yet to take close, 496 00:25:40,920 --> 00:25:42,240 Speaker 1: and they're all kind of speculative. 497 00:25:42,480 --> 00:25:44,640 Speaker 2: Anything I'll been easy might be going to the Hate 498 00:25:44,840 --> 00:25:45,800 Speaker 2: Santos might. 499 00:25:45,640 --> 00:25:49,480 Speaker 3: Be brought by super in the bank. 500 00:25:49,800 --> 00:25:51,959 Speaker 2: No, it's not in the bank quite, it's not. 501 00:25:52,800 --> 00:25:54,960 Speaker 3: Okay, it's of June. 502 00:25:55,480 --> 00:25:56,280 Speaker 1: It's pretty close. 503 00:25:56,600 --> 00:25:58,480 Speaker 2: Nine days have an attack on. 504 00:26:02,560 --> 00:26:06,159 Speaker 1: Okay, favorite story, favorite story? Is it my turn? I 505 00:26:06,200 --> 00:26:12,320 Speaker 1: think I'll go first, sign on bonuses, added favorite story. 506 00:26:12,560 --> 00:26:14,520 Speaker 3: Okay, sign on. 507 00:26:16,080 --> 00:26:19,320 Speaker 1: The AI because a little bit like No, it's because 508 00:26:19,320 --> 00:26:20,880 Speaker 1: he wasn't one hundred percent sure what I was talking about. 509 00:26:20,920 --> 00:26:22,280 Speaker 1: He thought I might have been talking about like a 510 00:26:22,520 --> 00:26:27,399 Speaker 1: here's like a gift card for I don't know, Baker's Delight. 511 00:26:28,440 --> 00:26:33,600 Speaker 1: That's your sign on bonus. No, no, because if Baker's me, really, 512 00:26:34,240 --> 00:26:37,760 Speaker 1: I'm a fan of anything baked. I just baked goods 513 00:26:37,760 --> 00:26:42,560 Speaker 1: in general. If you work in AI, Adam today is 514 00:26:42,760 --> 00:26:46,200 Speaker 1: I would say you're lucky day because Meta platforms, which oones, 515 00:26:46,440 --> 00:26:49,360 Speaker 1: Facebook and Instagram and a whole lot of other places, 516 00:26:49,880 --> 00:26:52,640 Speaker 1: it is apparently offering sign on bonuses as high as 517 00:26:52,720 --> 00:26:57,880 Speaker 1: one hundred million US dollars one hundred million US dollars 518 00:26:58,359 --> 00:27:03,360 Speaker 1: just to sign on, and even larger compensation packages. Right, 519 00:27:03,400 --> 00:27:07,360 Speaker 1: so we're talking the hours that's it's two days a week, 520 00:27:07,840 --> 00:27:11,280 Speaker 1: flexible working arrangements and bring your dog to it. 521 00:27:11,200 --> 00:27:13,240 Speaker 3: It's no, haven't come our way yet. 522 00:27:13,480 --> 00:27:16,760 Speaker 1: No, No, this is what Open AI boss Sam Oltman 523 00:27:17,000 --> 00:27:19,959 Speaker 1: says has been offered to employees at his business and 524 00:27:19,960 --> 00:27:24,720 Speaker 1: trying to lure them to Meta. It proves one thing 525 00:27:24,720 --> 00:27:28,320 Speaker 1: above all else, just how fast this industry is moving 526 00:27:28,400 --> 00:27:30,680 Speaker 1: because you do not offer sign on bonuses that big 527 00:27:30,760 --> 00:27:33,120 Speaker 1: unless you are trying to do things very very very 528 00:27:33,200 --> 00:27:35,320 Speaker 1: quickly and get people across to your business in order 529 00:27:35,359 --> 00:27:37,080 Speaker 1: to try and win this race. The race in AI 530 00:27:37,560 --> 00:27:41,360 Speaker 1: is clearly being measured in days, not in kind of years. Yeah, hours, 531 00:27:41,400 --> 00:27:45,600 Speaker 1: Absolutely nobody's taken up the offer, apparently at Open AI, which, 532 00:27:45,760 --> 00:27:47,879 Speaker 1: oh my god, ridiculous, right do you. 533 00:27:47,880 --> 00:27:51,080 Speaker 2: Think they've actually made them? So this is Samman and 534 00:27:51,119 --> 00:27:53,679 Speaker 2: he was on his brother's podcast and made a big 535 00:27:53,720 --> 00:27:58,440 Speaker 2: splash and not dissing your storyness ever, Michael never would. 536 00:27:58,560 --> 00:28:00,600 Speaker 2: But if I was offered one hundred million dollars, then 537 00:28:00,600 --> 00:28:02,920 Speaker 2: one hundred million dollars for the first year, I'm there. 538 00:28:03,040 --> 00:28:05,400 Speaker 1: Are you suggesting that people would make kind of spurious, 539 00:28:05,400 --> 00:28:07,399 Speaker 1: outrageous claims on a podcast. 540 00:28:08,320 --> 00:28:12,840 Speaker 2: In technology, like a technology guru making what serious outrageous 541 00:28:12,880 --> 00:28:13,320 Speaker 2: claims on. 542 00:28:13,800 --> 00:28:15,440 Speaker 1: But I mean, I'd imagine that signed on bonus of 543 00:28:15,440 --> 00:28:18,359 Speaker 1: one hundred million dollars, another hundred million dollars in pay 544 00:28:18,640 --> 00:28:21,000 Speaker 1: save for the first year. Across the first year of work, 545 00:28:21,000 --> 00:28:23,640 Speaker 1: you're looking at six hundred thousand dollars per day. 546 00:28:24,440 --> 00:28:24,960 Speaker 3: It's wrong. 547 00:28:25,359 --> 00:28:27,600 Speaker 1: I would just do it. I would sign on, do 548 00:28:27,640 --> 00:28:31,320 Speaker 1: a couple of weeks, then I'd retire and I'm done. 549 00:28:31,440 --> 00:28:33,880 Speaker 2: I do a year. I wouldn't care. Oh really two 550 00:28:33,920 --> 00:28:34,480 Speaker 2: hundred million? 551 00:28:34,920 --> 00:28:36,760 Speaker 1: Yeah, I mean, do you need that much? 552 00:28:36,840 --> 00:28:39,680 Speaker 3: Maybe? As long as you've designed the sean ai bot 553 00:28:40,240 --> 00:28:41,760 Speaker 3: by the time you finished, that's all. 554 00:28:41,800 --> 00:28:44,400 Speaker 2: The sawn a bot what hang on? 555 00:28:44,520 --> 00:28:47,320 Speaker 3: What was that? Well, just this, this little kind of 556 00:28:47,600 --> 00:28:49,800 Speaker 3: robotic sawn abot. 557 00:28:49,600 --> 00:28:53,600 Speaker 2: Looked very much like an eighties dance I have. 558 00:28:53,880 --> 00:28:56,000 Speaker 3: I have never boxed a cardboard box. 559 00:28:56,120 --> 00:28:58,600 Speaker 1: I have never been more glad to have Rosanna in 560 00:28:58,640 --> 00:29:02,360 Speaker 1: the studio taking video for social media that has now 561 00:29:02,440 --> 00:29:05,080 Speaker 1: been immortalized. It will not be deleted anyway. That's its 562 00:29:05,120 --> 00:29:07,959 Speaker 1: sign on bonuses Favorite story of the week. Staggering figures 563 00:29:08,080 --> 00:29:12,480 Speaker 1: shows how fast the AI race is moving. Unbelieve verifiable. 564 00:29:13,360 --> 00:29:18,360 Speaker 2: Okay, mine is totally verifiable because it's on the share market. 565 00:29:18,400 --> 00:29:23,800 Speaker 2: It's on Nasdak Regions sell Hot Bioscience Holdings. In the 566 00:29:23,840 --> 00:29:28,240 Speaker 2: last twelve months, its share price has risen forty six 567 00:29:28,640 --> 00:29:34,600 Speaker 2: thousand percent. Great thing about this stock, well many great things. 568 00:29:34,600 --> 00:29:35,360 Speaker 2: Mostly it's up. 569 00:29:36,720 --> 00:29:37,600 Speaker 3: Hong Kong Bass. 570 00:29:38,240 --> 00:29:41,560 Speaker 2: Theoretically, it's in the research and development stage to treat 571 00:29:41,560 --> 00:29:45,800 Speaker 2: neurological disorders such as ADHD and autism spectrum disorder through 572 00:29:46,360 --> 00:29:50,080 Speaker 2: traditional herb based medicines. We haven't got a lot of 573 00:29:50,080 --> 00:29:52,600 Speaker 2: facts gun for this story. These company so far. 574 00:29:52,560 --> 00:29:54,840 Speaker 3: Right, he found another use for Beast. 575 00:29:55,040 --> 00:29:59,840 Speaker 2: It's sharehold, it's major shareholder. That's it another because that 576 00:30:00,120 --> 00:30:04,720 Speaker 2: really grows out of control. That mint, mint mint, but 577 00:30:04,880 --> 00:30:05,640 Speaker 2: crazy mint. 578 00:30:05,680 --> 00:30:07,160 Speaker 1: You can use that, Mehito. 579 00:30:07,320 --> 00:30:09,760 Speaker 2: Yeah, it's hard, so you can keep up with the mint. 580 00:30:09,840 --> 00:30:11,600 Speaker 1: Absolutely, yeah, I encourage that. 581 00:30:11,640 --> 00:30:15,240 Speaker 2: But basil, well, I mean neurological disorder such as ADHD, 582 00:30:15,360 --> 00:30:16,520 Speaker 2: not some spectrum. 583 00:30:16,320 --> 00:30:20,600 Speaker 3: Which are incredibly growing in scale in terms of. 584 00:30:21,120 --> 00:30:25,200 Speaker 1: Just to be clear, is actually a treatment for this, 585 00:30:25,200 --> 00:30:26,960 Speaker 1: This is just speculating that it could. 586 00:30:27,520 --> 00:30:30,920 Speaker 3: But they found a herbal treatment and it's forty six thousand. 587 00:30:32,600 --> 00:30:36,040 Speaker 2: Hold on, they haven't found it yet, that's the right. 588 00:30:36,280 --> 00:30:41,280 Speaker 2: They have actually got zero revenue, zero profit. The owner 589 00:30:41,320 --> 00:30:42,920 Speaker 2: I think it owns eighty six percent of it a 590 00:30:43,000 --> 00:30:46,040 Speaker 2: Chinese gentleman who is suddenly a billionaire. The company is 591 00:30:46,040 --> 00:30:53,959 Speaker 2: now worth thirty billion dollars in twelve months. The great thing. 592 00:30:54,000 --> 00:30:55,680 Speaker 2: So if you go through and check out the notices, 593 00:30:56,080 --> 00:30:59,560 Speaker 2: it's going to drive the share price. Nada Zipo like. 594 00:31:01,120 --> 00:31:03,280 Speaker 3: It's just made no announcements, nothing. 595 00:31:03,160 --> 00:31:09,000 Speaker 2: Nothing significant, nothing, nothing outside the regular announce Well that's 596 00:31:09,080 --> 00:31:11,360 Speaker 2: I mean, they're probably not totally true, but there's nothing 597 00:31:11,400 --> 00:31:12,800 Speaker 2: that would drive a share price. 598 00:31:12,880 --> 00:31:15,240 Speaker 1: But there's nothing's revenue. 599 00:31:15,920 --> 00:31:18,080 Speaker 2: They did this thirty eight for one stock split, which 600 00:31:18,400 --> 00:31:22,240 Speaker 2: basically got so expensive. So they split one stop becomes 601 00:31:22,240 --> 00:31:24,680 Speaker 2: thirty eight stocks, and so the price of that is 602 00:31:24,720 --> 00:31:27,920 Speaker 2: basically one thirty eighth. So they did that, and then 603 00:31:27,960 --> 00:31:29,840 Speaker 2: the sham price in the next six hours went up 604 00:31:29,840 --> 00:31:31,080 Speaker 2: two hundred and three percent. 605 00:31:32,280 --> 00:31:33,080 Speaker 3: Split it again. 606 00:31:35,840 --> 00:31:39,440 Speaker 2: It is sort of ridiculous. We're alleging that, I mean, 607 00:31:39,440 --> 00:31:41,040 Speaker 2: we don't know that anything went wrong or anything. I'm 608 00:31:41,040 --> 00:31:44,040 Speaker 2: not saying that anything went wrong, but forty six in 609 00:31:44,040 --> 00:31:49,440 Speaker 2: a year coming well Region Cell Holdings Limited. That's my 610 00:31:49,600 --> 00:31:52,280 Speaker 2: favorite story about what can happen on the share market. 611 00:31:53,080 --> 00:31:57,800 Speaker 3: Yep, incredible. So we've got Ali bonuses versus forty six 612 00:31:57,920 --> 00:32:03,280 Speaker 3: thousand percent share price verified verified, which is my favorite. 613 00:32:06,200 --> 00:32:09,080 Speaker 3: So you don't often get Adam in this totally perplexed. 614 00:32:09,280 --> 00:32:10,920 Speaker 1: I love how much he's considering this. 615 00:32:12,800 --> 00:32:13,640 Speaker 3: John wins. 616 00:32:15,280 --> 00:32:16,200 Speaker 2: That's disappointing. 617 00:32:16,280 --> 00:32:19,560 Speaker 3: It's a publicly listed stock. You can actually see that 618 00:32:19,640 --> 00:32:22,640 Speaker 3: it's been valued and that value has changed versus and 619 00:32:22,720 --> 00:32:24,880 Speaker 3: I want to take Sam Moltman at his word, but 620 00:32:25,120 --> 00:32:27,880 Speaker 3: there's no evidence, so I'd have to say that that 621 00:32:28,360 --> 00:32:29,920 Speaker 3: makes my favorite story of the week. 622 00:32:30,160 --> 00:32:32,360 Speaker 1: So hang on, you're saying, now we need to have 623 00:32:32,480 --> 00:32:33,400 Speaker 1: evidence for our. 624 00:32:33,280 --> 00:32:36,520 Speaker 3: Stories, evidentiary. Yeah, this burden of proof. 625 00:32:36,800 --> 00:32:40,400 Speaker 1: I know this is a family podcast that it's a burden, 626 00:32:40,440 --> 00:32:42,560 Speaker 1: that's for sure. Okay, all right, So what was the 627 00:32:42,560 --> 00:32:44,960 Speaker 1: final score? Is it two all more or less? Was 628 00:32:45,000 --> 00:32:45,840 Speaker 1: it three to one? 629 00:32:48,320 --> 00:32:48,880 Speaker 3: Two? 630 00:32:48,960 --> 00:32:53,800 Speaker 2: All I have? It was actually three one, but Michael 631 00:32:53,840 --> 00:32:54,520 Speaker 2: won the second one. 632 00:32:54,560 --> 00:32:58,080 Speaker 3: The CEO pay I want the tax reform one, which 633 00:32:58,200 --> 00:33:01,400 Speaker 3: on the text, and I won the first one. 634 00:33:01,480 --> 00:33:04,600 Speaker 1: Yeah, okay, Well, what what was the points when you 635 00:33:04,800 --> 00:33:06,880 Speaker 1: did it all with? You gave us all twenty five? 636 00:33:07,000 --> 00:33:09,760 Speaker 2: Give him two seconds because he's adding it up. Yeah, 637 00:33:09,920 --> 00:33:11,280 Speaker 2: going to calculator. 638 00:33:12,000 --> 00:33:13,760 Speaker 3: Eight points each. 639 00:33:14,680 --> 00:33:19,920 Speaker 1: How can I lose wine story by that's the closest. 640 00:33:21,520 --> 00:33:23,600 Speaker 2: That's the sympathy. Okay, I'm trying to work out how 641 00:33:23,640 --> 00:33:25,440 Speaker 2: I lost three points in one compared to you. 642 00:33:26,280 --> 00:33:29,040 Speaker 1: It's because my story was so good that second one. 643 00:33:29,400 --> 00:33:33,200 Speaker 1: It was the whatever thing super fun. 644 00:33:33,680 --> 00:33:38,880 Speaker 2: Because Adam hates the economy, he hates jobs, hates jobs. 645 00:33:39,040 --> 00:33:42,680 Speaker 2: He's a job had I'd actually recount Bradfield style. 646 00:33:44,000 --> 00:33:48,640 Speaker 1: Okay, all right, well played, Sean. Congratulations Michael, and thank 647 00:33:48,640 --> 00:33:49,160 Speaker 1: you very much. 648 00:33:49,200 --> 00:33:50,240 Speaker 3: Adam. Thank you, Michael. 649 00:33:50,560 --> 00:33:54,560 Speaker 1: Remember to to follow us online, join us on LinkedIn, Instagram, 650 00:33:54,840 --> 00:33:58,960 Speaker 1: x TikTok, Facebook, all of the places, especially if there's 651 00:33:58,960 --> 00:34:00,880 Speaker 1: going to be a video of Adam doing his robot 652 00:34:00,960 --> 00:34:05,200 Speaker 1: dance over the next couple of days, definitely worth checking out. 653 00:34:05,240 --> 00:34:07,640 Speaker 1: I reckon that'll be on Instagram for sure. Thank you 654 00:34:07,720 --> 00:34:09,840 Speaker 1: very much for listening. This does fear and greed. 655 00:34:09,960 --> 00:34:10,800 Speaker 3: Have a great weekend.