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Speaker 1: Greg Lawndi wald a straight talk mate like I've been.

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Speaker 1: I've actually been one of these. You've interviewed Dad and

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Speaker 1: I sat in the background. You gave me a wave,

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Speaker 1: I think. But now now I'm the main man. You

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Speaker 1: are the main man, mate.

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Speaker 2: Well, of course we're here in Vegas and if anyone

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Speaker 2: doesn't know, the curtains pull, but we're looking across the

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Speaker 2: strip there and hasn't been here. Maybe he was the

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Speaker 2: Bulldogs you won last night, which is it was a

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Speaker 2: nail bite, thank god. Yeah, Crichton saved the day like

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Speaker 2: a massive care captain, courageous captain, courageous like literally in

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Speaker 2: extra time over time they call it here.

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Speaker 1: Yeah, just with the guys we came out, he said,

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Speaker 1: how did your team go? So we won an overtime

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Speaker 1: over just what they understand over here.

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Speaker 2: And the Bulldogs have bought quite a big group over here.

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Speaker 2: And of course the Lownde family or the Lorndy brand,

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Speaker 2: I might say, is the sponsor of the Bulldogs. What

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Speaker 2: was the effort like in terms of getting everybody And

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Speaker 2: I'm hearing stories like you put on a family night

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Speaker 2: for the parents of the players.

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Speaker 1: They did a great job. And you know, Aaron Warburton

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Speaker 1: in his time. They used it as a you know,

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Speaker 1: a reward for a couple of really good years. They

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Speaker 1: brought a big contingent of staff over to say thanks,

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Speaker 1: and it was extremely well reus sod But the way

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Speaker 1: they looked after the players and their families, you know,

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Speaker 1: the itinery. I didn't go to a lot of it,

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Speaker 1: because there was a lot of it, but I spoke

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Speaker 1: to the players and their families and they just had

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Speaker 1: a fantastic time. They made a real family experience. And

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Speaker 1: the best part is Mark, we're the family club. You know,

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Speaker 1: Peter Moore days. You know, this was the family club.

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Speaker 1: We're back there again. And you know, I had Dad

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Speaker 1: and all of our family here. That's how we roll nowadays.

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Speaker 1: That's where we've got back to and that's where we

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Speaker 1: want to stay.

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Speaker 2: That's very interesting because you know, I do remember the

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Speaker 2: bill Frog days a bit more back in the late

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Speaker 2: eighties or probably before actually before long before that, but

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Speaker 2: they sort of ended towards I think in the early

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Speaker 2: nineties or something. But you know, you had the hughes As,

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Speaker 2: the Moor's, the Mortimer's, lots of and it was a

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Speaker 2: family deal. Everybody was always involved in everything. The Laundes

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Speaker 2: have sort of brought that feel back into the joint

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Speaker 2: and then looking after the players and the families because

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Speaker 2: you know, like you know, these days, ave got a

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Speaker 2: lot of Islanders play in our teams, like fifty four

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Speaker 2: percent of players and oral today Islanders and they are

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Speaker 2: very family orange, absolutely, and it's important.

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Speaker 1: And Gus is important. Yeah, you know, Gus and Dad.

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Speaker 1: They're the great double act. You know, Gus will go

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Speaker 1: and talk to the family concerned about their young bloke.

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Speaker 1: And you know, at fifteen, sixteen, seventeen years of age,

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Speaker 1: we're identifying these kids as you are at the Roosters

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Speaker 1: and bringing them into our system. Cam Serral though his

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Speaker 1: system now at first grade level is replicated at under

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Speaker 1: fifteens at Harold Matt's s G Ball President's Cup. You

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Speaker 1: know it. It is just diametrically opposed to what we

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Speaker 1: signed on to in day one and what we see

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Speaker 1: now and then you can't forget, you know, Adam Drewsey

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Speaker 1: and John Curry and the board you know largely, but

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Speaker 1: those two personalities in particular are unbelievably passionate. John handles

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Speaker 1: the community side of things. Adam is you know, if

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Speaker 1: he's not the smartest bloke in the room. He's in

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Speaker 1: the semifinals and he's just brought a whole new dimension

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Speaker 1: to the way we do things at Canterbury.

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Speaker 2: I remember sitting down at this time last year with

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Speaker 2: both Gus and Adam, having a coffee with them across

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Speaker 2: the road at the Winn Hotel, and Adam was telling

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Speaker 2: me about the importance of artificial intelligence. Most of who

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Speaker 2: don't realize that. I think Adam is like a major

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Speaker 2: shareholder in a company called Quantum.

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Speaker 1: Here him and him and his best mate through and

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Speaker 1: he found founded and it is it would be one

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Speaker 1: of the preminent a major shareholder now. Is Woolworths worse

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Speaker 1: only because they've brought them out over time because Adam

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Speaker 1: and his partner did all the work for Willis and

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Speaker 1: Wowors was smart enough to identify early that this guy

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Speaker 1: knows what he's doing.

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Speaker 2: He's got a few other clients sitting in Quantinum too,

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Speaker 2: huge big names.

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Speaker 1: Telstra Colinwealth Bank, you know Brian Hartzer who used to

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Speaker 1: run Westpac that does our family banking. You know, runs

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Speaker 1: his health side of his business. You know Peter Tonner

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Speaker 1: Channel nine, which we'll talk about. I'm sure as we

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Speaker 1: go through. This is his chair, which is the is

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Speaker 1: the chair of Channel nine. So I mean he's surrounded

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Speaker 1: the church on. Yeah, he surrounded himself with some extremely

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Speaker 1: intelligent people, not by chance, you know, by choice, and

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Speaker 1: he's just a very switched on operator. So when you

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Speaker 1: look at that whole.

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Speaker 2: Cultural peace in a club, that family piece and making

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Speaker 2: sure everybody feels like they belong to something, then you

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Speaker 2: overlay that with artificial intelligence. Well let's call it sort

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Speaker 2: of the smarts. That's probably the best formula you can

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Speaker 2: get the mean ultimately, and Canterbury, you know, they struggled

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Speaker 2: a few years back, were struggling for a long time

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Speaker 2: and really I think they really struggled after the more

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Speaker 2: period for a long time just to re identify themselves

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Speaker 2: as what they were best for, best known for.

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Speaker 1: Plenty of people try to bring it back. You guys

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Speaker 1: bought it back.

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Speaker 2: You then you know, I noticed you shipping everybody out today,

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Speaker 2: like you're not letting no one's allowed to stay, which

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Speaker 2: is a good thing to be honest with footy players.

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Speaker 2: They know the young blokes and you've got to send

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Speaker 2: them home. You've got to get them home and get

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Speaker 2: them back to the normal environments.

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Speaker 1: Of course you do. You have you have to play

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Speaker 1: next week. We have the next weekend off, don't you

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Speaker 1: know We've now got two weeks off. You've got two

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Speaker 1: weeks after. We've got a week off because we've played here,

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Speaker 1: and then we've got to buy. You got to buy

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Speaker 1: as well. That's actually a good thing. Yeah, so I

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Speaker 1: think so do you? Coach thinks so? But I think so?

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Speaker 1: Was it worth it? I mean it was. I mean

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Speaker 1: there's not only effort involved in getting him here. There's money.

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Speaker 2: It's expensive exercise and obviously Cannby is a has a

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Speaker 2: great sponsor, but it's also a pretty wealthy club that

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Speaker 2: they've got a good league club, etc.

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Speaker 1: You know, they do well. It was definitely worth it.

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Speaker 1: I mean, you know, I got asked by a journal

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Speaker 1: during the week and Peter Orlandis, who's a very switched

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Speaker 1: on operator, had made some comments about taking it elsewhere

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Speaker 1: if you want to crack the US market, and I

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Speaker 1: spend a lot of time over here. Now, if you

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Speaker 1: want to crack the US market, I don't think you

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Speaker 1: come to Vegas because there's so much going on here.

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Speaker 1: If you want to actually get the US market interested

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Speaker 1: and eyeballs on it that aren't Australian's visiting. I think

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Speaker 1: you take it to a city that's got something to offer,

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Speaker 1: but not everything to offer, which Las Vegas does. So

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Speaker 1: what comes to mind you need at this time of

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Speaker 1: year here it's cold and right now in New York

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Speaker 1: it's twenty inches of snow bruising. Yeah, so you basically

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Speaker 1: need an NFL town, an indoor stadium that you can

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Speaker 1: convert to have a Rugby League field, but with something

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Speaker 1: to offer tourists. But also there's not a lot else

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Speaker 1: on the town. So New Orleans, for example, would be

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Speaker 1: a cracker. Now, if you're the only game in town

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Speaker 1: that week, you know you're a chance of getting us

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Speaker 1: eyeballs to actually go and watch. So in the longer

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Speaker 1: term strategy, I know this is a five year plan

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Speaker 1: to dip the towel in the water. I think they

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Speaker 1: have to look at taking it away from the circus city,

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Speaker 1: which is a lot Las Vegas, where everything goes on

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Speaker 1: here every not it's mental here it is mental, And

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Speaker 1: you take it to a town where there's plenty plenty

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Speaker 1: of stuff for tourists to do from Australia that come,

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Speaker 1: but where it's the only game in town right now.

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Speaker 1: This is the sweet spot. So we've only got basketball

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Speaker 1: going on. Baseball's finished, NFL's finished, So.

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Speaker 2: The UFC is on the weekend, Boxing is on the weekend.

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Speaker 2: Is fighting this weekend.

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Speaker 1: They're going through it. But in another city around America

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Speaker 1: this weekend, you would be the only game in town.

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Speaker 1: And if you are serious about getting us eyeballs on

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Speaker 1: the game, I think they have to branch out and

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Speaker 1: take it elsewhere. And I presume you Tom the chairman.

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Speaker 1: I've had a whisper. Yeah, you had a whisper.

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Speaker 2: So okay, let's just talk about Craiglarn for me, because

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Speaker 2: I mean I did talk to your dad a long

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Speaker 2: time ago, and it was a great interview.

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Speaker 1: I loved having an interview with your dad.

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Speaker 2: I'd put him up there with Harry Triggobovs in terms

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Speaker 2: of interviews, but particularly being able to interview an older

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Speaker 2: man who's, you know, hasn't always had it as easy

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Speaker 2: as everybody might think they have it.

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Speaker 1: You know, he's he's a tough bastard.

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Speaker 2: He's grinded through, like years and years of hard decisions

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Speaker 2: and you know, probably intolerable periods. You know, everyone looks

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Speaker 2: at him today going how many pubs you guys got

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Speaker 2: in portfolio?

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Speaker 1: We run over one hundred now over one hundred.

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Speaker 2: So they probably go wow, you know, but they don't

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Speaker 2: realize whether where your dad started or probably your grandfather started. Yeah,

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Speaker 2: let's go back to Craig Laundy. You onet of three kids,

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Speaker 2: four four daughters to four, so.

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Speaker 1: You're the oldest so that I know, Stuart, I know you.

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Speaker 1: But have you got two sisters then? Jenny Ellen justin

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Speaker 1: two sisters? Right? So where did Craig Lawndy sort of

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Speaker 1: grow up? And what's the deal. We're a Straffield family

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Speaker 1: so which was dead center of the sea to read,

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Speaker 1: which I'm sure we'll get to we will, but yeah,

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Speaker 1: we're third generations Straffield people. You know. My grandparents used

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Speaker 1: to go back there in between selling pubs and rent houses.

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Speaker 1: My father and mother bought there. I was born at

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Speaker 1: the Twin Willows at bass Hill. I lived there for

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Speaker 1: short periods. Basil is your grandfathers grandparents? Yeah, they built

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Speaker 1: that opened at nineteen sixty four. I lived there for

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Speaker 1: a short period. I actually fell in the pool, lucky

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Speaker 1: to be alive. The housekeeper saw me going wow yeah

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Speaker 1: and grabbed me out, otherwise would have drowned. And it

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Speaker 1: scared the shit out of Mum and Dad so much

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Speaker 1: so that he rang and made his who was a

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Speaker 1: real estate in Stratfield and said find mere house, and

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Speaker 1: he brought a house the next day. So we moved

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Speaker 1: to Stratfield in nineteen at nineteen seventy, nineteen seventy one,

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Speaker 1: seventy two, early seventy two, and I was there till

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Speaker 1: two thousand and six.

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Speaker 2: Things do you remember one of the I recall this

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Speaker 2: living out there, but I'm pretty sure it was bas

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Speaker 2: Hill because there's just a little bit further from where

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Speaker 2: I was. But the driving there was a driving theater

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Speaker 2: right next door to us. It's now Basil Shopping.

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Speaker 1: I love that driving we used to go.

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Speaker 2: You put them on the wind the window, one of

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Speaker 2: the windows up and did Mom and dad a going

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Speaker 2: by the fish and chips and they put on the

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Speaker 2: front seat because those days the sea was just a

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Speaker 2: bench and me and my brother and sister we used

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Speaker 2: to sit over there and we'd be we'd.

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Speaker 1: Be like seagulls pull the chips, taking the chip.

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Speaker 2: It was the best thing. And Mid always have a blanket.

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Speaker 2: Mid always fall, so I don't remember what movies I saw.

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Speaker 2: But it was a big that was a big night

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Speaker 2: out Basil Driving theater.

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Speaker 1: It was I remember it like it was yesterday. Did

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Speaker 1: you used to go there? We occasionally, but I remember

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Speaker 1: it was so good, so good. So and then you

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Speaker 1: went to school? What do you go to some pats?

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Speaker 1: I went to del Monte for Monte in Stratfield Ben

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Speaker 1: some Pats and some Pats and then over to Joey

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Speaker 1: So then o Joey's. And then when you finished school

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Speaker 1: eighty eight. Yeah. So after the school, though, what did

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Speaker 1: you do? I went to University New South Wales yep,

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Speaker 1: did an economic commerce degree commerce screen. Yeah, the university's

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Speaker 1: I'm an accountant by trade. I just never practiced it

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Speaker 1: other than the family. So especially you majored in accounting

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Speaker 1: and finance. I did economics and finance, minored in accounting

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Speaker 1: minded account Okay, so why did you go to politics?

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Speaker 1: Where did you go and work for your family for

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Speaker 1: a while? I worked for dad for twenty three years.

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Speaker 1: And then in two thousand and seven, Scott Lurch, who's

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Speaker 1: a great made of mind president of the AHA, very

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Speaker 1: shrewd individual, rang me. He said, there's a guy you

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Speaker 1: need to meet just been elected. His name was Mike Baird.

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Speaker 1: He said, I think you you and Hay would get on. Well,

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Speaker 1: he's the first politician at that stage I met. That

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Speaker 1: was my age. I thought politics at that stage was

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Speaker 1: for older guys and lady and I got I struck

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Speaker 1: it off, struck you know, we got on and my

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Speaker 1: bed being the new South Wales premier former Liberal Party.

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Speaker 1: Yeah yeah, and good friend still today and him and

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Speaker 1: Karen and his family. We had his daughter work for

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Speaker 1: us up at the Crown Plaza at Terregull. You know,

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Speaker 1: we're very close to these guys. And Mike said to

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Speaker 1: me something that ended up being prophetic at the time,

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Speaker 1: but he said in twenty eleven, twenty twelve, he said,

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Speaker 1: you know this is in you politics, you just don't

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Speaker 1: know it yet. And then I got that riled up

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Speaker 1: with the Gillard government that I rang him and said,

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Speaker 1: you know, if I did this, would you be in

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Speaker 1: my corner and I'll never forget it as long as

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Speaker 1: all have He said, Buggy your corner, I'll be right

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Speaker 1: in the middle of the ring with you. And he

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Speaker 1: supported me very strongly. John Brogden, who is a former

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Speaker 1: opposition leader and some Bat's boy and hour was trying

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Speaker 1: to talk me out of it, and when he couldn't,

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Speaker 1: he said, Okay, you've passed the test. How he gave

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Speaker 1: me a great hand through my pro selection because I

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Speaker 1: had to join the party had never been a member.

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Speaker 1: Was very different to what most politicians are because I

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Speaker 1: came from the real world and I needed their help.

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Speaker 1: John Brogden white Beard. Then it became great mates with

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Speaker 1: Gladys through the journey, and my chief of staff ended

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Speaker 1: up bening. Gladys's chief of staff Neil Harley, was very

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Speaker 1: instrumental in guiding me as well. And yeah, I just

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Speaker 1: just got into it by accident.

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Speaker 2: And you came in under your first assistant ministry or

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Speaker 2: you know, your first ministry was, as I recall, No, no,

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Speaker 2: I'm recalling a different period. I'm recalling when you were

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Speaker 2: sitting under Arthur Sinnadinas.

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Speaker 1: Yeah, and industry innovation, innovations. And were you ever in

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Speaker 1: the minister of a small business. Yes, that's where I

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Speaker 1: ended up, small Business industrial Relations. I asked you to

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Speaker 1: do a bit of work.

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Speaker 2: I did some work and we ran a task force

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Speaker 2: did which was interesting at the time and particularly given

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Speaker 2: where everything's ended up with AI because we ran the

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Speaker 2: Digital Task Force and now you know, we're trying to

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Speaker 2: work out how we can get Austrains become.

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Speaker 1: More digitally savvy.

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Speaker 2: Savvy and now, of course, AI, if you don't do

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Speaker 2: a you're in trouble. So to about savvy. But if

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Speaker 2: what how did you become close to Malcolm, close to Arthur,

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Speaker 2: et cetera.

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Speaker 1: So does it work? Yeah, it's sort of. It comes

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Speaker 1: down to personality. I, as a backbencher, was quite outspoken

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Speaker 1: on a few issues. I would call them common sense.

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Speaker 1: I mean, you look at what happened in BONDI. You know,

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Speaker 1: tragically at the end of last year, Section I don't

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Speaker 1: see the Racial Discrimination Act is probably where I first

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Speaker 1: stood up and said, no, hate speech is not good.

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Speaker 1: And you tiny Abbot, the Andrew Bolt case had gone on.

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Speaker 1: He'd lost under section eight and see Abbot and George

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Speaker 1: Brandis vowed to as an election commitment change that. And

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Speaker 1: I thought that was wrong. And I stood up and

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Speaker 1: I said this is wrong. And it was the first

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Speaker 1: time I spoke in party room. You know. I went

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Speaker 1: down there and thought, I don't know what they all do.

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Speaker 1: And my Dad's always taught me stay at the back,

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Speaker 1: be quiet and listen and learn. But I couldn't listen

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Speaker 1: any longer. I had to speak because I had one

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Speaker 1: of the most multiculturally diverse seats in Federal Parliament and

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Speaker 1: hates beach sucks and you see what it brings. And

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Speaker 1: we've seen that play out, and I just put my

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Speaker 1: hand up. And it was that point that I sort

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Speaker 1: of came to the attention of someone like Malcolm. You

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Speaker 1: know Arthur. You know, Arthur rang me. He's such a

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Speaker 1: good people person. Arthur he rang me and he hadn't

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Speaker 1: met me, you know, he got to know me a

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Speaker 1: little bit through the pre selection, but he said, what's

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Speaker 1: your story? And we had a good chat and he

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Speaker 1: and I remained very good mates today. And I had

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Speaker 1: the fortune for me, misfortune for Arthur. I was his

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Speaker 1: junior minister when he got crook. He got cancer, yeah,

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Speaker 1: and he went off to fight that and Malcolm didn't

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Speaker 1: want to reshuffle, and he spoke to me and he said, look,

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Speaker 1: can you handle this, And he said I don't want

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Speaker 1: to reshuffle, and I said I will step up. And

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Speaker 1: you know, Arthur, God bless him, gave me the go

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Speaker 1: for your life and I got to run the portfolio,

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Speaker 1: which is a huge portfolio and so important and so

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Speaker 1: forgotten about. Although I do think Andrew Charlton is the

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Speaker 1: great hope of the side on the labor side of

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Speaker 1: the fence. I don't cheer them on the labor side

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Speaker 1: of the fence, you know, I hope they go well.

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Speaker 1: But I'm obviously a liberal man. But someone like Andrew Charltman,

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Speaker 1: who comes again from the real world when the politics

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Speaker 1: first thing came back to the real world, who's now

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Speaker 1: in this space of innovation, industry and science. You know,

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Speaker 1: he's a very shrewd mind. And it's that stuff with

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Speaker 1: AI which is now the buzz word. But how is

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Speaker 1: that going to change what the Australian economy looks like?

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Speaker 1: The answer is hugely how does government respond? You know,

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Speaker 1: do they regulate and kill it? Hopefully not? Do they

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Speaker 1: put guardrails in place? Hopefully yes? But you know, with

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Speaker 1: those sorts of minds around the table at this point

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Speaker 1: of the electoral cycle, when the Libs are at this

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Speaker 1: stage nowhere to be selling, you know, it's those minds

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Speaker 1: I point to and hope that they holds way.

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Speaker 2: I mean, one of the great things that Malcolm Malcolm

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Speaker 2: may not have been the greatest politician of all times

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Speaker 2: in terms of understand any people. But he definitely is

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Speaker 2: one of the smartest guys that's evented politics in Australia.

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Speaker 2: I mean, he's extremely smart.

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Speaker 1: I remember so when there were there were bombings, they

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Speaker 1: bombed a Christian church in Egypt, a Coptic church and

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Speaker 1: Orthodox Coptic Orthodox. And we went to Annandale and I

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Speaker 1: was the Minister for Multiculturalism and I went with Malcolm.

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Speaker 1: We're standing in the church pew at the front, and

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Speaker 1: the stations of the Cross are around the wall. Okay

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Speaker 1: as a tyke, as a Catholic yep. So we see

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Speaker 1: those and he leans over and I'm standing, what next

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Speaker 1: to you? Wisher was on me here? He said, Ancient

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Speaker 1: Egyptian is such a magnificent language. He goes, look, that's

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Speaker 1: all ancient Egyptian on the stations of the Cross. He

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Speaker 1: knew that. He knew that, and I thought, how the

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Speaker 1: hell do you know that? He was just a cut

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Speaker 1: above high level of knowledge. Oh that's the stuff that

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Speaker 1: would come out when he didn't mean it to come out.

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Speaker 1: He was just and he is today. He's a good man.

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Speaker 1: Him and Lucy are great friends of Susie and mine

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Speaker 1: and will Bury till the day we die. But he

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Speaker 1: just sadly got hacked down for no reason. And coincidentally

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Speaker 1: a guy came into our box last night, how sweet,

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Speaker 1: and he said, I'm a great mate to Pleader Thatton

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Speaker 1: and I said, he goes, but he said, don't hold

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Speaker 1: that against me. I said, are you kidding? That's as

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Speaker 1: a great mate of mine. And he put him on

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Speaker 1: the phone and he couldn't the guy couldn't believe that

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Speaker 1: that's not good mates because I was good mates with Malcolm.

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Speaker 1: And I said, you don't understand publicans in politics. You know,

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Speaker 1: we get on with everybody. We may have ideological Australian differences, yeah,

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Speaker 1: but well not in politics, Mark, It is Australian. But

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Speaker 1: in politics they hold grudges and they hold them for lifetimes.

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Speaker 1: They come up through the system, they're on different sides

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Speaker 1: of the ideological fence. They're in the same party technically,

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Speaker 1: but god, and they hold a grudge. But that's what

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Speaker 1: we need.

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Speaker 2: That's why I think we need more real people than politics,

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Speaker 2: and particularly out of business, like just generally speaking, not

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Speaker 2: only in pubs but in business. You can't be enemies

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Speaker 2: with anybody, No, because I mean, and it's a sort

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Speaker 2: of a little it's a funny thing because right now

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Speaker 2: we're in the middle of the drama in the Middle East,

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Speaker 2: and you and I have been probably watching this on

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Speaker 2: not at the same time, on CNN and Fox News

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Speaker 2: and whatever.

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Speaker 1: What's going on in the Middle East. It's happened right.

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Speaker 2: Here whilst we're here, the whole you know, the whole

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Speaker 2: breakout in the Middle East. And one thing about Trumps

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Speaker 2: interesting to get you to reflect on this.

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Speaker 1: You don't mind.

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Speaker 2: On one hand he'll hammer someone, but literally within days

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Speaker 2: he's willing to do a deal, just just just to

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Speaker 2: settle it all down. What do you think of that

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Speaker 2: sort of process. Look, he's not my cup of as

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Speaker 2: a personality. Yeah, you know, I get what he's trying

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Speaker 2: to do. And you've got to understand that US politics

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Speaker 2: is very different to Australian politics because they have executive government.

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Speaker 2: So he's pushing the boundaries every day here, using executive

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Speaker 2: government to bypass Congress and the Senate. The midterms and

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Speaker 2: both those houses at the moment are in his favor.

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Speaker 2: The midterms I think will prove a great challenge in

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Speaker 2: November for him.

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Speaker 1: Yep. Especially you look at some of the outer cycle

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Speaker 1: elections that have gone on in the States, and you know,

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Speaker 1: I keep an eye on it over here here because

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Speaker 1: we've got a place here now and we spend a

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Speaker 1: bit of time here. But if you look at what's

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Speaker 1: happening here in the outer cycle elections, you know, you

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Speaker 1: would swear he's not hiding nothing. However, because of executive government,

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Speaker 1: I don't think they can really curtail things like that's

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Speaker 1: happened in the last forty hot hours. I mean, there

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Speaker 1: was all from Congress yesterday. This is a war, therefore

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Speaker 1: it should come to Congress. He's basically given them the

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Speaker 1: middle finger and said, no, buggy you. This is Michael.

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Speaker 1: And whether you believe he's right or wrong, he's decisive.

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Speaker 1: And this is the business background of him. I think,

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Speaker 1: you know, the art of the deal is go hard,

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Speaker 1: prove that you are in a position of strength, and

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Speaker 1: bring the other term to the table and then negotiate.

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Speaker 2: And that's sort of what the way he sort of

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Speaker 2: processes everything.

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Speaker 1: That's what it says. Mean.

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Speaker 2: I don't think he really cares for their life or

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Speaker 2: it doesn't like someone. That's his default, I think, But

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Speaker 2: it sort of works.

432
00:22:20,960 --> 00:22:24,960
Speaker 1: I agree. You know, again I preface it by saying,

433
00:22:25,200 --> 00:22:27,399
Speaker 1: you know, he's not my cup at tea, but you

434
00:22:27,440 --> 00:22:32,040
Speaker 1: can't argue that the art of the deal mentality that

435
00:22:32,080 --> 00:22:36,000
Speaker 1: he brings. You know, it's worked in most stuff. It

436
00:22:36,040 --> 00:22:39,159
Speaker 1: hasn't worked in Ukraine and Russia. And I think the

437
00:22:39,200 --> 00:22:42,679
Speaker 1: main reason that's the case he's putin is exactly the

438
00:22:42,720 --> 00:22:47,359
Speaker 1: same sort of personality. You know. I met a fund

439
00:22:47,359 --> 00:22:50,320
Speaker 1: manager in the UK a couple of years ago and

440
00:22:50,400 --> 00:22:52,720
Speaker 1: he came up with a great one liner, you know,

441
00:22:53,000 --> 00:22:56,040
Speaker 1: putin it was thought had the second best army in

442
00:22:56,080 --> 00:22:58,880
Speaker 1: the world. It turns out he's got the second best

443
00:22:58,960 --> 00:23:02,840
Speaker 1: army in Ukraine, you know, because he doubted the resolve

444
00:23:02,920 --> 00:23:07,040
Speaker 1: of the Ukrainian people and their armed forces and he's

445
00:23:07,080 --> 00:23:09,880
Speaker 1: playing a huge price for that. But he's got manpower

446
00:23:09,920 --> 00:23:12,720
Speaker 1: on his side. He keeps conscripting and sending young kids

447
00:23:13,000 --> 00:23:14,720
Speaker 1: sadly to their potential demise.

448
00:23:15,119 --> 00:23:21,439
Speaker 2: So if that as a backgrounder, and also if we

449
00:23:21,560 --> 00:23:26,640
Speaker 2: just recall Malcolm's initiative of let's I think he called

450
00:23:26,680 --> 00:23:29,760
Speaker 2: it the Innovation Nation, Yes he did, he did, called

451
00:23:29,800 --> 00:23:32,520
Speaker 2: the Innovation Nation, but we're talking about twenty eighteen around it.

452
00:23:32,560 --> 00:23:37,520
Speaker 1: So in Lisa National intervens Innovation and Science agenda was

453
00:23:37,560 --> 00:23:40,040
Speaker 1: the technical policy position.

454
00:23:39,880 --> 00:23:43,800
Speaker 2: Way ahead of his time. Because today that's a deal. Yes,

455
00:23:44,000 --> 00:23:49,800
Speaker 2: back then, it was hard to spread that word, hard

456
00:23:49,800 --> 00:23:53,439
Speaker 2: to distribute that idea because that idea was probably ahead

457
00:23:53,440 --> 00:23:56,159
Speaker 2: of where everybody was thinking. You know, I mean, I know,

458
00:23:56,240 --> 00:23:57,880
Speaker 2: I got involved in the task Force, which is part

459
00:23:57,920 --> 00:24:01,600
Speaker 2: of us being more innovative and trying to digitize Australian

460
00:24:01,680 --> 00:24:04,480
Speaker 2: businesses small businesses and also trying to protect the consumers

461
00:24:04,520 --> 00:24:05,480
Speaker 2: around that sort of stuff.

462
00:24:05,640 --> 00:24:09,680
Speaker 1: But it's it was ahead of its time. Now we're

463
00:24:09,680 --> 00:24:10,360
Speaker 1: in that period.

464
00:24:10,480 --> 00:24:12,680
Speaker 2: We are definitely in that period because we keep talking

465
00:24:12,680 --> 00:24:16,920
Speaker 2: about productivity in Australia and productivity is causing us to

466
00:24:17,560 --> 00:24:19,840
Speaker 2: causing the reserve being to put in low productivity is

467
00:24:19,840 --> 00:24:22,160
Speaker 2: causing reserve being to put up in gust rates. We

468
00:24:22,200 --> 00:24:24,679
Speaker 2: need to be much more innovative in this country. Therefore,

469
00:24:24,680 --> 00:24:27,399
Speaker 2: we can become more productive innovative in that, you know,

470
00:24:27,520 --> 00:24:30,159
Speaker 2: like let's get machines to do things that people can

471
00:24:30,160 --> 00:24:33,560
Speaker 2: normally do and redeploy people into other jobs or retrain

472
00:24:33,600 --> 00:24:36,440
Speaker 2: them then redeploying the other jobs. We need to be

473
00:24:36,640 --> 00:24:41,840
Speaker 2: much more globally competitive, which we're not big corporations aren't innovative.

474
00:24:42,160 --> 00:24:45,879
Speaker 2: Innovative because the regulatory environment, it's a lot easier just

475
00:24:45,880 --> 00:24:47,760
Speaker 2: to say, let's just protect our profits and pay our

476
00:24:47,800 --> 00:24:50,560
Speaker 2: dividends and everyone's going to be happy and no one's

477
00:24:50,600 --> 00:24:53,440
Speaker 2: worried about taking a risk because the innovation requires risk.

478
00:24:53,880 --> 00:24:58,159
Speaker 2: Malcolm was not adverse to taking risk. He understood that

479
00:24:58,200 --> 00:25:00,880
Speaker 2: we need to become the innovative nation and you could

480
00:25:00,920 --> 00:25:04,960
Speaker 2: see place like Singapore surging it the Singapore Dollar hours.

481
00:25:05,320 --> 00:25:09,119
Speaker 1: We're at where he's coincidentally, he's young Black Alleges is

482
00:25:09,160 --> 00:25:14,879
Speaker 1: based and when comes and he's working in that innovation side,

483
00:25:14,960 --> 00:25:17,680
Speaker 1: and we need to be doing that stuff. And so.

484
00:25:19,400 --> 00:25:22,840
Speaker 2: Why do you think it was unsuccessful? Relatively speaking? It

485
00:25:22,920 --> 00:25:25,440
Speaker 2: was the right idea road concept. Why do you think

486
00:25:25,480 --> 00:25:28,960
Speaker 2: at the time around two thousand and eighty it was

487
00:25:29,040 --> 00:25:32,240
Speaker 2: unsuccessful in being sort of expressed and people sort of

488
00:25:32,400 --> 00:25:34,200
Speaker 2: grabbing hold of it, like the media for example.

489
00:25:34,320 --> 00:25:37,520
Speaker 1: I don't think Australia was ready to hear it. And

490
00:25:37,960 --> 00:25:42,080
Speaker 1: I think what's played out? You know, I've always thought

491
00:25:42,080 --> 00:25:46,400
Speaker 1: Australia takes the lead from the US. It's normally ten

492
00:25:46,520 --> 00:25:49,720
Speaker 1: years behind. So what's ended up playing out in the US?

493
00:25:49,800 --> 00:25:52,040
Speaker 1: I mean, we're here in Vegas. You can walk down

494
00:25:52,320 --> 00:25:55,280
Speaker 1: and book a car to pick you up that doesn't

495
00:25:55,280 --> 00:25:58,680
Speaker 1: have a driver that drives you around those streets. They're

496
00:25:58,760 --> 00:26:02,760
Speaker 1: geo fence. Okay, there's Google are in this up to

497
00:26:02,800 --> 00:26:05,639
Speaker 1: the nines. But they've got a business called Weymo. Yeah, Wemo.

498
00:26:05,920 --> 00:26:13,160
Speaker 1: And so you look at these at these businesses Navidia, Apple, Microsoft,

499
00:26:13,520 --> 00:26:15,960
Speaker 1: you know, they were nothing like they were in two

500
00:26:15,960 --> 00:26:19,040
Speaker 1: thousand and eight and as they are today. And it's

501
00:26:19,200 --> 00:26:22,800
Speaker 1: it's that sort of lead and the buzzwords. But then

502
00:26:23,240 --> 00:26:25,280
Speaker 1: I'll flip the coin in a minute on you here, Mark,

503
00:26:25,320 --> 00:26:30,200
Speaker 1: because it's another great challenge for government, but it's it's

504
00:26:31,960 --> 00:26:34,720
Speaker 1: it's now front and center of mine because AI is

505
00:26:34,920 --> 00:26:40,240
Speaker 1: actively now replacing people to do certain things. It's only

506
00:26:40,320 --> 00:26:43,600
Speaker 1: minial tasks at the moment, it will become far more.

507
00:26:43,640 --> 00:26:47,120
Speaker 1: I mean, you're a legal firm, if you're a paralegal

508
00:26:47,680 --> 00:26:52,320
Speaker 1: listening to this podcast today, be aware, get ready to

509
00:26:52,440 --> 00:26:56,600
Speaker 1: these things. These AI is coming and will take the role,

510
00:26:57,160 --> 00:27:00,080
Speaker 1: will take over the role that you play. But the

511
00:27:00,119 --> 00:27:04,040
Speaker 1: flip side then for Australia now and again one of

512
00:27:04,080 --> 00:27:08,280
Speaker 1: the great minds that Malcolm has, he could see this

513
00:27:09,359 --> 00:27:15,280
Speaker 1: is the power consumption that data centers that power all

514
00:27:15,359 --> 00:27:18,679
Speaker 1: of this are going to take, and the pressure that

515
00:27:18,800 --> 00:27:21,760
Speaker 1: we'll put on the way that we've decided to go

516
00:27:21,840 --> 00:27:27,719
Speaker 1: in Australia on power supply. Here we are, We're in Nevada. Okay,

517
00:27:27,800 --> 00:27:30,560
Speaker 1: I've got a place in California. California is the most

518
00:27:30,600 --> 00:27:34,480
Speaker 1: democratic state in the US. They are democratic in terms

519
00:27:34,520 --> 00:27:37,920
Speaker 1: of Labor Party in Labor Party, so left learning, most

520
00:27:38,000 --> 00:27:42,800
Speaker 1: left learning state in the US. They are reopening actively

521
00:27:43,000 --> 00:27:49,840
Speaker 1: right now, mothballed previously nuclear power stations to power data

522
00:27:49,880 --> 00:27:55,359
Speaker 1: centers because they can't sustain the power consumption required into

523
00:27:55,359 --> 00:27:59,439
Speaker 1: the future by the way they've gone with green energy.

524
00:28:00,000 --> 00:28:04,440
Speaker 1: And this is the thing we don't know the unintended

525
00:28:04,480 --> 00:28:09,760
Speaker 1: consequences in inverted commas of what this great leaped forward

526
00:28:10,000 --> 00:28:15,320
Speaker 1: in artificial intelligence and innovation it will require to be

527
00:28:15,600 --> 00:28:20,080
Speaker 1: powered and the way we've gone in Australia. I can't wait.

528
00:28:20,320 --> 00:28:22,680
Speaker 1: I mean, you want to see, you know, in terms

529
00:28:22,760 --> 00:28:24,720
Speaker 1: of when is the Liberal Party back in the game?

530
00:28:25,240 --> 00:28:28,479
Speaker 1: Thirty No, it's when the lights don't go on. Well,

531
00:28:28,520 --> 00:28:31,639
Speaker 1: I'm thinking twenty thirty. It's when you come home and

532
00:28:31,680 --> 00:28:34,000
Speaker 1: you can't turn your air conditioning on. In the middle

533
00:28:34,040 --> 00:28:37,280
Speaker 1: of summer because you're in a brown out or a

534
00:28:37,320 --> 00:28:40,760
Speaker 1: phased black hair out. That's when the Liberal Party are

535
00:28:40,800 --> 00:28:44,560
Speaker 1: back in the game. Sadly in my mind at the moment,

536
00:28:44,560 --> 00:28:49,440
Speaker 1: because we are going down a route of national lunacy,

537
00:28:49,440 --> 00:28:54,200
Speaker 1: a resource based country that is closing and mothballing coal

538
00:28:54,280 --> 00:28:57,720
Speaker 1: fire power stations, not reinvesting in them. And gas. Yeah,

539
00:28:57,760 --> 00:29:02,520
Speaker 1: and we'll not evening no new gas, no, no, there's

540
00:29:02,600 --> 00:29:06,600
Speaker 1: reservations all down the eastern seaboard of Australia. You know,

541
00:29:06,760 --> 00:29:10,719
Speaker 1: gas is obviously you know they say it's the transition

542
00:29:11,160 --> 00:29:16,440
Speaker 1: to renewable energy. Bullshit. It's the future of where Australia

543
00:29:16,520 --> 00:29:18,440
Speaker 1: needs to be if we want to have what we

544
00:29:18,680 --> 00:29:22,960
Speaker 1: always had. You know, we've always had high paid you know,

545
00:29:23,960 --> 00:29:29,240
Speaker 1: award jobs in the manufacturing space historically. And why have

546
00:29:29,320 --> 00:29:32,320
Speaker 1: we done that Because we've had low taxation rates and

547
00:29:32,440 --> 00:29:36,080
Speaker 1: low power so businesses could prosper and business could could

548
00:29:36,120 --> 00:29:40,960
Speaker 1: compete internationally. They've now put every high paid wages you

549
00:29:41,040 --> 00:29:44,320
Speaker 1: know are there still, but every other input cost has

550
00:29:44,360 --> 00:29:46,920
Speaker 1: gone up and you can't compete on the national stage

551
00:29:47,280 --> 00:29:51,440
Speaker 1: and that gives us a massive disadvantage. What do you think?

552
00:29:52,280 --> 00:29:54,560
Speaker 2: And I'm not in a bag labor because I'm talking

553
00:29:54,600 --> 00:29:57,000
Speaker 2: to a liberal guy. But why do you think labor's

554
00:29:57,680 --> 00:30:00,880
Speaker 2: not embracing this stuff? I mean, is it ideology? Again,

555
00:30:01,200 --> 00:30:04,760
Speaker 2: I point to a guy like Andrew Charlton. It is ideology,

556
00:30:04,920 --> 00:30:07,560
Speaker 2: but someone like him that comes from the real world

557
00:30:08,160 --> 00:30:10,600
Speaker 2: and from the New South Wales right of the Labor

558
00:30:10,680 --> 00:30:14,320
Speaker 2: Party and the most sensible labor governments we guess in

559
00:30:14,480 --> 00:30:18,880
Speaker 2: this country are right leaning labor governments right right of

560
00:30:19,040 --> 00:30:22,120
Speaker 2: the labor center, which is the left of the Liberal

561
00:30:22,200 --> 00:30:27,040
Speaker 2: Party predominantly sort of the middle. Yes, Chrismins, Yeah, Chrismins,

562
00:30:27,200 --> 00:30:29,720
Speaker 2: great example, you know, Daniel Murky Christmins.

563
00:30:29,880 --> 00:30:35,200
Speaker 1: Yeah, it's a great examples of being sensible centrists. And

564
00:30:35,920 --> 00:30:38,680
Speaker 1: you know, you know, these are the guys that you

565
00:30:38,880 --> 00:30:43,600
Speaker 1: hope make their way through. Jason clair Tony Burke, you know,

566
00:30:43,840 --> 00:30:47,040
Speaker 1: Andrew Charlton. These are the guys that are coming that

567
00:30:47,320 --> 00:30:50,600
Speaker 1: if labor are to be successful. And I don't wish

568
00:30:50,680 --> 00:30:53,520
Speaker 1: them bad luck, you know, if they're the government of

569
00:30:53,560 --> 00:30:55,840
Speaker 1: the day, I wish them every success because of the

570
00:30:55,880 --> 00:30:59,120
Speaker 1: government of the day exactly. And we're Australian. But these

571
00:30:59,240 --> 00:31:03,880
Speaker 1: guys are good thinkers, good people, good hearts and good

572
00:31:03,960 --> 00:31:06,720
Speaker 1: minds and they're the guys that need to come through.

573
00:31:07,040 --> 00:31:10,560
Speaker 1: And you know, Michelle Roland another great example member for

574
00:31:10,680 --> 00:31:15,000
Speaker 1: Greenway and a good friend of mine, you know, eminently sensible.

575
00:31:15,440 --> 00:31:18,160
Speaker 1: You know, these are the people that you know Albo

576
00:31:18,280 --> 00:31:20,920
Speaker 1: has surrounded himself with at the moment. I mean, he's

577
00:31:21,040 --> 00:31:25,240
Speaker 1: risk averse, he's interested I think in tenure, not policy,

578
00:31:26,200 --> 00:31:28,280
Speaker 1: which is going to be you know at some stage

579
00:31:28,280 --> 00:31:30,960
Speaker 1: he's going to flip on that because the Libs will

580
00:31:31,000 --> 00:31:34,600
Speaker 1: get more competitive under Angus. But you know, these are

581
00:31:34,600 --> 00:31:37,360
Speaker 1: the people that I know that I hope step up

582
00:31:37,440 --> 00:31:40,120
Speaker 1: over time and continue if we are to have labor

583
00:31:40,160 --> 00:31:45,320
Speaker 1: governments to allowing businesses to embrace AI, but to allow

584
00:31:45,400 --> 00:31:49,640
Speaker 1: them to rely on power sources beyond renewables, because I

585
00:31:49,680 --> 00:31:51,760
Speaker 1: don't think we can survive without traditional power.

586
00:31:51,840 --> 00:31:54,760
Speaker 2: If you're the chair of the Economics Committee now and

587
00:31:54,960 --> 00:31:57,520
Speaker 2: the Reserve Bank Governor was sitting here fornever let's say

588
00:31:57,520 --> 00:31:59,800
Speaker 2: the Reserve Bank Governor's sitting there and you've got the

589
00:32:00,000 --> 00:32:03,120
Speaker 2: treasure of Jim Chalmers sitting there together, what would be

590
00:32:03,200 --> 00:32:06,840
Speaker 2: one of the things you'd be saying or asking and

591
00:32:07,520 --> 00:32:11,440
Speaker 2: relentlessly asking in relation to what's going on for our

592
00:32:11,480 --> 00:32:14,160
Speaker 2: crime Because like, you know, mate, you come from Stratfield.

593
00:32:14,280 --> 00:32:16,680
Speaker 2: Your parents, you know, at some stage when they were

594
00:32:16,720 --> 00:32:20,120
Speaker 2: first had your kids, had a mortgage and you know

595
00:32:20,200 --> 00:32:21,959
Speaker 2: they had apartment. They're doing their best, but they've got

596
00:32:21,960 --> 00:32:23,560
Speaker 2: to pay the rates and the interest rate in this

597
00:32:23,680 --> 00:32:26,160
Speaker 2: recup's going up or they it looks like they're going

598
00:32:26,200 --> 00:32:27,880
Speaker 2: to keep going up, and they're worried about putting the

599
00:32:27,880 --> 00:32:28,720
Speaker 2: four kids through school.

600
00:32:28,720 --> 00:32:31,960
Speaker 1: Blah blah blah, usual stuff. How do you build?

601
00:32:32,080 --> 00:32:33,920
Speaker 2: What would you be saying to the Reserve Bank governor

602
00:32:33,920 --> 00:32:37,760
Speaker 2: and to the Treasurer at the same time, because right

603
00:32:37,760 --> 00:32:39,160
Speaker 2: now you get the Reserve Bank government. She's not going

604
00:32:39,200 --> 00:32:41,280
Speaker 2: to say much about the government. The treasure is not

605
00:32:41,320 --> 00:32:42,719
Speaker 2: going to say much about the Reserve Bank. If you've

606
00:32:42,760 --> 00:32:44,280
Speaker 2: got in the same room at the same time, what

607
00:32:44,360 --> 00:32:45,920
Speaker 2: would you say to as chair?

608
00:32:47,080 --> 00:32:49,120
Speaker 1: So if you share the economics minue, which I have

609
00:32:49,160 --> 00:32:52,479
Speaker 1: had the honor of being, I know that you are

610
00:32:52,760 --> 00:32:54,840
Speaker 1: a member of the government of the day. The question

611
00:32:55,400 --> 00:32:57,840
Speaker 1: that she won't be asked that she needs to be

612
00:32:57,920 --> 00:33:03,840
Speaker 1: asked is what role is government spending playing in creating inflation?

613
00:33:04,880 --> 00:33:08,040
Speaker 1: That is the question that needs to be asked. Well,

614
00:33:08,040 --> 00:33:10,320
Speaker 1: given us the biggest percentage of GDP that we've had

615
00:33:10,560 --> 00:33:13,360
Speaker 1: since like I don't know, and only only going to

616
00:33:13,440 --> 00:33:15,880
Speaker 1: get bigger. Yeah, I mean you know this this you

617
00:33:15,920 --> 00:33:19,240
Speaker 1: know Albo wants he center piece to be childcare. You

618
00:33:19,320 --> 00:33:26,080
Speaker 1: know at at preschool and childcare. It's another ends in waiting.

619
00:33:26,600 --> 00:33:30,200
Speaker 1: I mean, the Ends was a fantastic scheme. It will

620
00:33:30,320 --> 00:33:35,360
Speaker 1: outstrip Medicare, that the health spend within the next decade.

621
00:33:35,680 --> 00:33:39,360
Speaker 1: In this country, we keep rolling out under the labor government,

622
00:33:39,800 --> 00:33:44,200
Speaker 1: you know, national welfare programs with no future thought on

623
00:33:44,320 --> 00:33:47,760
Speaker 1: how you fund them. I mean, my great hope is

624
00:33:47,840 --> 00:33:52,760
Speaker 1: that Angus now becoming leader of the Liberal Party has

625
00:33:52,840 --> 00:33:56,960
Speaker 1: some time, another very smart mind, has some time to

626
00:33:57,000 --> 00:34:00,760
Speaker 1: surround himself with people and think about the next twenty years.

627
00:34:01,240 --> 00:34:03,920
Speaker 1: I mean the problem with Australian politics is electoral cycles

628
00:34:03,960 --> 00:34:06,600
Speaker 1: are three years. Yeah, too short. The thinking needs to

629
00:34:06,680 --> 00:34:09,239
Speaker 1: be the next twenty and you know what does that

630
00:34:09,360 --> 00:34:12,719
Speaker 1: look like for power? What does that look like for tax? Water? Bos?

631
00:34:12,719 --> 00:34:16,279
Speaker 1: Look for water yet water, drice, salpetton. In the world,

632
00:34:16,520 --> 00:34:19,840
Speaker 1: you know, where is the long term infrastructure spind I

633
00:34:19,920 --> 00:34:22,920
Speaker 1: mean I'm not a verse elbows now looking at fast

634
00:34:23,040 --> 00:34:26,640
Speaker 1: rail and everyone's criticizing him because this chestnut keeps being

635
00:34:26,719 --> 00:34:30,680
Speaker 1: brought up every five or six years, but it should

636
00:34:30,680 --> 00:34:32,640
Speaker 1: have been done twenty years ago when it would have

637
00:34:32,719 --> 00:34:34,640
Speaker 1: been ten percent of the price that we will now

638
00:34:34,719 --> 00:34:37,279
Speaker 1: have to pay to do it. I mean, you come

639
00:34:37,360 --> 00:34:40,200
Speaker 1: down here mark to the US, you look at their

640
00:34:40,320 --> 00:34:43,399
Speaker 1: road infrastructure and you compare it to what we've got

641
00:34:43,880 --> 00:34:46,520
Speaker 1: and you think, how the hell do we survive? You know,

642
00:34:46,560 --> 00:34:50,320
Speaker 1: they've got eight lane freeways going right across this country

643
00:34:50,760 --> 00:34:54,600
Speaker 1: which is basically the same size of Australia, just not

644
00:34:55,760 --> 00:34:58,920
Speaker 1: bound by one side predominantly like we do in Australia

645
00:34:58,960 --> 00:35:02,160
Speaker 1: the Eastern seaboard. So the long term thinking what does

646
00:35:02,280 --> 00:35:05,160
Speaker 1: tax look like? You do you broaden the GST? And

647
00:35:05,239 --> 00:35:07,840
Speaker 1: if you're broaden the GST, how do you sell that?

648
00:35:08,280 --> 00:35:11,080
Speaker 1: Do you make education you said it the mortgage and

649
00:35:11,160 --> 00:35:13,880
Speaker 1: paying the school feest? Do you make education tax deductible

650
00:35:14,120 --> 00:35:16,240
Speaker 1: so that if you want to reinvest in your children

651
00:35:16,800 --> 00:35:18,440
Speaker 1: in a private school you used to get it, You

652
00:35:18,520 --> 00:35:21,040
Speaker 1: used to get a recation. Do you want to make

653
00:35:21,080 --> 00:35:24,640
Speaker 1: that tax reductook? Do you add dental to medicare? I mean,

654
00:35:25,800 --> 00:35:29,239
Speaker 1: have a blank white board, you know. My advice to

655
00:35:29,280 --> 00:35:32,640
Speaker 1: Angus for the two cents from the cheap suits have

656
00:35:32,760 --> 00:35:36,600
Speaker 1: a white board and come up with things that are bold.

657
00:35:37,239 --> 00:35:40,320
Speaker 1: Be bold and be brave. And if you want to

658
00:35:40,360 --> 00:35:42,799
Speaker 1: have tax reform, you know, if you want to add

659
00:35:42,880 --> 00:35:46,440
Speaker 1: the GST to food, okay, make the tax free threshold,

660
00:35:46,800 --> 00:35:48,759
Speaker 1: take it from eighteen thousand and seven hundred and fifty

661
00:35:48,800 --> 00:35:54,960
Speaker 1: dollars to fifty thousand dollars so that people aren't adversely impacted.

662
00:35:55,000 --> 00:35:58,560
Speaker 1: They pay the GSD instead of paying income tax, and

663
00:35:58,760 --> 00:36:02,880
Speaker 1: they pay as a spend. Yes, and these these are

664
00:36:02,920 --> 00:36:05,520
Speaker 1: the sorts of things that have been missing. But why

665
00:36:05,560 --> 00:36:07,440
Speaker 1: are they doing it? But gy, why are they doing it?

666
00:36:07,560 --> 00:36:11,960
Speaker 1: But because they govern from the day there, from day

667
00:36:12,040 --> 00:36:15,239
Speaker 1: one of being elected. Their whole goal is in three

668
00:36:15,320 --> 00:36:18,440
Speaker 1: years time, the next elected. That's the sad state of

669
00:36:18,480 --> 00:36:22,120
Speaker 1: Australian politics. That's the reality of the sad start of

670
00:36:22,160 --> 00:36:26,480
Speaker 1: Australian politics. And you know, albo As I said, you

671
00:36:26,520 --> 00:36:30,360
Speaker 1: know that Daniel Molino, the Assistant treasure I see on

672
00:36:30,400 --> 00:36:34,200
Speaker 1: the host plus board, industry super plays a massively important

673
00:36:34,280 --> 00:36:37,400
Speaker 1: role in Australia. And I said to Daniel Molina, you

674
00:36:37,600 --> 00:36:40,880
Speaker 1: have the chance. Now you know they've presumably got another

675
00:36:40,960 --> 00:36:44,120
Speaker 1: two terms because of the size of the majority. Be

676
00:36:44,360 --> 00:36:50,960
Speaker 1: bold govern come up with some vision. Okay, beyond social welfare,

677
00:36:51,320 --> 00:36:54,480
Speaker 1: which is where they tend to default to. What's the

678
00:36:55,040 --> 00:36:58,239
Speaker 1: you know, what is the benefit? Jim Chalmers step up.

679
00:36:58,719 --> 00:37:02,000
Speaker 1: You know, it's not all about an expenditure. What's tax

680
00:37:02,120 --> 00:37:06,120
Speaker 1: reform look like? What's productivity reform look like? What does

681
00:37:06,520 --> 00:37:09,279
Speaker 1: tax incentives to create productivity?

682
00:37:09,400 --> 00:37:12,359
Speaker 2: Well, he actually said the last election that there are

683
00:37:12,440 --> 00:37:14,600
Speaker 2: is two things productivity and tax reform.

684
00:37:15,040 --> 00:37:17,439
Speaker 1: And he had the round table. We're at. The round

685
00:37:17,520 --> 00:37:20,840
Speaker 1: table was the people that actually operated small businesses. You

686
00:37:20,960 --> 00:37:23,959
Speaker 1: had the boss of cosbaa you know who, I don't

687
00:37:23,960 --> 00:37:25,600
Speaker 1: even know who he is. He's not about blood, but

688
00:37:25,600 --> 00:37:29,279
Speaker 1: he doesn't operate a business hundred percent. You know, put Jim,

689
00:37:29,440 --> 00:37:31,400
Speaker 1: don't have the large ess of I don't know what

690
00:37:31,560 --> 00:37:33,239
Speaker 1: a cost to fly them all there and have them

691
00:37:33,680 --> 00:37:37,000
Speaker 1: go to one of your marginal seats, Get your marginal

692
00:37:37,080 --> 00:37:40,560
Speaker 1: seat holder who's a worker, to put twenty small business

693
00:37:40,600 --> 00:37:43,000
Speaker 1: operators in the room and sit and listen to them

694
00:37:43,239 --> 00:37:45,239
Speaker 1: and say what are the issues? What can we do

695
00:37:45,400 --> 00:37:49,359
Speaker 1: to help? That's where Malcolm was good. Malcolm would come

696
00:37:49,440 --> 00:37:52,680
Speaker 1: out to marginal seats. You know, he catched the train

697
00:37:52,880 --> 00:37:56,000
Speaker 1: as Prime minister to Burward in my seat I'd meet

698
00:37:56,080 --> 00:37:58,160
Speaker 1: him at the station, I'd take him right through all

699
00:37:58,160 --> 00:38:01,080
Speaker 1: the small businesses and he'd say, how can we help?

700
00:38:01,640 --> 00:38:03,360
Speaker 1: And that's the sort of thinking you need to do

701
00:38:03,400 --> 00:38:06,760
Speaker 1: as a retail politician. The sad thing is in politics

702
00:38:06,800 --> 00:38:10,120
Speaker 1: and Australia, the people in authority are the owners of

703
00:38:10,239 --> 00:38:14,719
Speaker 1: safe seats, not marginal seats. Ah, that's the problem, you know.

704
00:38:14,880 --> 00:38:17,680
Speaker 1: And therefore they don't have to talk to their electrics.

705
00:38:17,680 --> 00:38:20,920
Speaker 1: There's no risk. They're electric. It re elects them no

706
00:38:21,080 --> 00:38:24,319
Speaker 1: matter what happens. So you know, the real workers are

707
00:38:24,320 --> 00:38:27,440
Speaker 1: the marginal seattholders. They're the ones that have the connections

708
00:38:27,480 --> 00:38:30,600
Speaker 1: to small and family business operators. They're the ones that

709
00:38:30,640 --> 00:38:32,640
Speaker 1: could put people around a table and talk to Jim

710
00:38:32,760 --> 00:38:36,520
Speaker 1: Chalmers and say this is what we need you to do.

711
00:38:38,000 --> 00:38:40,759
Speaker 1: When's Craig Lorning going to come back onto politics, No

712
00:38:41,320 --> 00:38:43,960
Speaker 1: he's not. He's going to cheer. He's going to cheer

713
00:38:44,000 --> 00:38:46,160
Speaker 1: both sides from the sidelines, and there are good people

714
00:38:46,239 --> 00:38:51,040
Speaker 1: in both names. But he's going to influence, you know

715
00:38:51,280 --> 00:38:53,680
Speaker 1: when when asked for advice, If he's asked for advice,

716
00:38:53,719 --> 00:38:54,839
Speaker 1: he'll give his two cents worth.

717
00:38:54,960 --> 00:38:58,240
Speaker 2: Well, let's just well, given that, then let's talk about

718
00:38:58,920 --> 00:39:01,480
Speaker 2: the latest and lot of topic that you guys have

719
00:39:01,840 --> 00:39:04,040
Speaker 2: invested in. I mean, by the way, the Lornde family

720
00:39:04,760 --> 00:39:09,000
Speaker 2: buy hotels at fifty million, you know that's not unusual

721
00:39:09,080 --> 00:39:12,920
Speaker 2: for you guys to do that. You've just bought the

722
00:39:13,080 --> 00:39:16,680
Speaker 2: radio stations from nine to so nine radio And I

723
00:39:16,719 --> 00:39:19,120
Speaker 2: was talking at Matt stand last night, the CEO of

724
00:39:19,360 --> 00:39:21,480
Speaker 2: Chaneral nine. He said it was a great deal. I

725
00:39:21,560 --> 00:39:23,719
Speaker 2: don't mean a great deal. It was done in a

726
00:39:23,800 --> 00:39:26,120
Speaker 2: really good way. It was a really good transaction for

727
00:39:26,200 --> 00:39:29,120
Speaker 2: both sides of the both sides of the fence. It

728
00:39:30,160 --> 00:39:32,120
Speaker 2: was written down in the books for lesson you paid

729
00:39:32,160 --> 00:39:35,839
Speaker 2: for it. What are you guys thinking about? What's your

730
00:39:36,120 --> 00:39:39,319
Speaker 2: sort of strategy the Laundi family, what's the strategy around owning?

731
00:39:40,160 --> 00:39:45,000
Speaker 2: I think it's two PR TBL six, PR C GB three,

732
00:39:45,080 --> 00:39:46,600
Speaker 2: A W four BC four.

733
00:39:47,280 --> 00:39:50,439
Speaker 1: There's a whole heap of Queensline Perth, Melbourne, Sydney. There's

734
00:39:50,440 --> 00:39:53,080
Speaker 1: other stations in each state too, right which they lose

735
00:39:53,160 --> 00:39:55,200
Speaker 1: out to other people at the moment. There's a a

736
00:39:55,280 --> 00:39:57,840
Speaker 1: whole heap of digital bandwidth that comes with it that

737
00:39:58,000 --> 00:40:04,160
Speaker 1: you can create stations. But what's the strategy. The strategy

738
00:40:04,360 --> 00:40:10,640
Speaker 1: is they were great assets that we bought them at

739
00:40:10,680 --> 00:40:16,000
Speaker 1: a cap rate. You know, that is far better than buying.

740
00:40:15,800 --> 00:40:19,160
Speaker 2: A hotel, we believe, because when you buy a hotel,

741
00:40:19,160 --> 00:40:22,440
Speaker 2: you could be buying on a two or three percent if.

742
00:40:22,320 --> 00:40:24,920
Speaker 1: You want it. If it's an icon, you could pay that.

743
00:40:25,040 --> 00:40:27,680
Speaker 1: If not, it's six and a half seven six. Yes,

744
00:40:28,160 --> 00:40:31,160
Speaker 1: this was a ten percent return. Yeah, you know, but

745
00:40:31,520 --> 00:40:34,160
Speaker 1: then you're adding the back end synergies. We think we

746
00:40:34,280 --> 00:40:37,680
Speaker 1: can run the back end through the costs of not

747
00:40:37,840 --> 00:40:40,640
Speaker 1: being listed. So I'll give you one example. You know,

748
00:40:40,760 --> 00:40:44,399
Speaker 1: they have to do a full independent audit every year.

749
00:40:45,120 --> 00:40:47,920
Speaker 1: It costs a fortune to do. We don't have to

750
00:40:48,000 --> 00:40:51,560
Speaker 1: do that. They have to produce results within two days

751
00:40:51,600 --> 00:40:55,000
Speaker 1: a month end. I need them in aden days, I

752
00:40:55,080 --> 00:40:58,279
Speaker 1: said to the financial controller that's coming across from nine

753
00:40:58,360 --> 00:41:02,160
Speaker 1: to us. Harry Is is coming across with us. I said, mate,

754
00:41:02,560 --> 00:41:04,920
Speaker 1: if I don't need the results within two days, if

755
00:41:04,920 --> 00:41:07,719
Speaker 1: I know them within eighteen days a month end, he said,

756
00:41:07,760 --> 00:41:10,319
Speaker 1: that'll save me one person. I mean, this is how

757
00:41:10,440 --> 00:41:13,320
Speaker 1: you look at the you're going to be the publican

758
00:41:13,600 --> 00:41:16,600
Speaker 1: you're going to be. We're in the mitia. We are

759
00:41:16,640 --> 00:41:18,719
Speaker 1: in the back end of this. You know, how do

760
00:41:18,840 --> 00:41:21,520
Speaker 1: we run this more effectively than a listed business will.

761
00:41:21,960 --> 00:41:25,000
Speaker 1: Then you've got the added benefit. You know, we don't

762
00:41:25,120 --> 00:41:27,759
Speaker 1: take over all my first I've been a two JB

763
00:41:28,000 --> 00:41:30,920
Speaker 1: four or five times since the announcement. I've burned it

764
00:41:31,160 --> 00:41:34,480
Speaker 1: to four BC three r W. Dad's burned a three

765
00:41:34,560 --> 00:41:37,080
Speaker 1: r W, Dad's been a six PR and Perth. We've

766
00:41:37,160 --> 00:41:41,520
Speaker 1: met all of the staff everyone and introduced ourselves. We

767
00:41:41,640 --> 00:41:46,040
Speaker 1: will be walking through these businesses on a regular basis.

768
00:41:46,520 --> 00:41:49,160
Speaker 1: You know, Matt Stanton has a huge business to run.

769
00:41:49,480 --> 00:41:53,239
Speaker 1: Matt Matt banas the Group nine Group Channel nine. He

770
00:41:53,360 --> 00:41:56,680
Speaker 1: can't walk through those businesses. This is the only Mordia.

771
00:41:57,080 --> 00:42:00,120
Speaker 1: This is a diversification play for us and makes a

772
00:42:00,160 --> 00:42:01,920
Speaker 1: lot of sense because we think we can add back

773
00:42:02,040 --> 00:42:05,640
Speaker 1: end synergy cost savings. But also I've already met with

774
00:42:05,719 --> 00:42:09,560
Speaker 1: the sales director, Brian Lovely Guy. I took a list

775
00:42:09,640 --> 00:42:13,120
Speaker 1: of the twelve hundred businesses. If you don't mind now,

776
00:42:13,160 --> 00:42:15,400
Speaker 1: I didn't know it was that many that the Laundy

777
00:42:15,520 --> 00:42:19,000
Speaker 1: Hotel family spends money with, And I said, that's who

778
00:42:19,080 --> 00:42:23,640
Speaker 1: we spend money with, who advertises with your network? Why

779
00:42:24,080 --> 00:42:27,720
Speaker 1: because spending money like with Carlton Brewery to his brewery

780
00:42:27,800 --> 00:42:31,920
Speaker 1: Aristocrat gaming here, you know, should be a two way street.

781
00:42:32,719 --> 00:42:35,120
Speaker 1: You know, we will go. I will take Brian with

782
00:42:35,239 --> 00:42:39,840
Speaker 1: me to meet those people. Gil McLachlin, Tab Cork, Tapcork.

783
00:42:40,000 --> 00:42:41,640
Speaker 1: We're their biggest private customer.

784
00:42:42,200 --> 00:42:42,360
Speaker 2: You know.

785
00:42:42,760 --> 00:42:46,279
Speaker 1: Tabcorp advertised with two GB. I don't think they spend

786
00:42:46,400 --> 00:42:50,239
Speaker 1: enough with two GB with three outws leverage. Yeah, we

787
00:42:50,400 --> 00:42:52,080
Speaker 1: sit with them and we work with them on how

788
00:42:52,239 --> 00:42:56,239
Speaker 1: we get them to spend more promoting our business while

789
00:42:56,320 --> 00:42:59,719
Speaker 1: we promote this, how we make it mutually beneficial that

790
00:43:00,200 --> 00:43:03,000
Speaker 1: the business thinking that we're hoping to bring to it

791
00:43:03,400 --> 00:43:04,520
Speaker 1: and make that ten percent.

792
00:43:05,760 --> 00:43:08,000
Speaker 2: So what we're looking at is, on one hand, the

793
00:43:08,040 --> 00:43:10,239
Speaker 2: economy is a scale, which is you know, being able

794
00:43:10,239 --> 00:43:15,240
Speaker 2: to reduce costs where you can by sharing facilities and services. Essentially,

795
00:43:15,280 --> 00:43:18,719
Speaker 2: that's a cost reduction which should actually increase the profit,

796
00:43:18,840 --> 00:43:20,400
Speaker 2: which means you get a better return than what you

797
00:43:20,480 --> 00:43:22,520
Speaker 2: bought it at. That's one, but two on the on

798
00:43:22,600 --> 00:43:25,200
Speaker 2: the on the revenue side is being able to because

799
00:43:25,239 --> 00:43:27,960
Speaker 2: you know, you know the people that you mutually deal with,

800
00:43:30,000 --> 00:43:31,719
Speaker 2: you know, they might be able to be prepared to

801
00:43:31,719 --> 00:43:34,960
Speaker 2: spend a bit more money absolutely with two GB, which

802
00:43:35,280 --> 00:43:38,120
Speaker 2: that's advertising, which increases the top line which should open

803
00:43:38,239 --> 00:43:38,680
Speaker 2: up the gap.

804
00:43:39,000 --> 00:43:41,000
Speaker 1: So in other words, your gross profits should get better,

805
00:43:41,120 --> 00:43:45,360
Speaker 1: one hundred percent better, and what and who's going to

806
00:43:45,520 --> 00:43:49,000
Speaker 1: run the show. So we've We've got Tom Loans to

807
00:43:49,040 --> 00:43:50,919
Speaker 1: see So Tom's going to stay, He's going to stay.

808
00:43:51,920 --> 00:43:54,920
Speaker 1: Bryan's director of sales. We've got Harry the financial controller.

809
00:43:55,239 --> 00:43:57,640
Speaker 1: You know, we're backing the management saying we're taking on

810
00:43:58,400 --> 00:44:01,440
Speaker 1: three hundred and thirty staff here. We've got to employe.

811
00:44:01,680 --> 00:44:03,680
Speaker 1: You know, I had a journalist. You know, there was

812
00:44:03,719 --> 00:44:05,360
Speaker 1: all this story about who's going to buy it and

813
00:44:05,400 --> 00:44:08,000
Speaker 1: how they're going to slash and burn if it's private

814
00:44:08,040 --> 00:44:10,840
Speaker 1: equity for example, which is what they normally do, how

815
00:44:10,880 --> 00:44:13,399
Speaker 1: they make it. I need to hire thirty eight more

816
00:44:13,440 --> 00:44:17,200
Speaker 1: people to actually stand this business up by itself because

817
00:44:17,280 --> 00:44:19,880
Speaker 1: Channel nine operate the back end of this thing at

818
00:44:19,920 --> 00:44:22,560
Speaker 1: the moment. So I'm doing a deal right now. We've

819
00:44:22,640 --> 00:44:27,000
Speaker 1: done the sales terms. I'm now working on with my

820
00:44:27,200 --> 00:44:31,680
Speaker 1: sister and brother in law and dad, with our lawyers

821
00:44:31,880 --> 00:44:35,439
Speaker 1: and Channel nine's lawyers on a shared services agreement because

822
00:44:35,440 --> 00:44:38,680
Speaker 1: we're going to need some help from nine for the

823
00:44:38,840 --> 00:44:42,160
Speaker 1: foreseeable you know, within six to twelve months. It's going

824
00:44:42,239 --> 00:44:43,919
Speaker 1: to take us to stand this thing up on its own.

825
00:44:44,239 --> 00:44:47,200
Speaker 1: So there's a lot of detail that's actually being worked

826
00:44:47,200 --> 00:44:50,320
Speaker 1: on over here in the States. I'm spending most afternoons

827
00:44:50,360 --> 00:44:53,359
Speaker 1: on zooms with lawyers and accountants trying to work out

828
00:44:53,440 --> 00:44:56,439
Speaker 1: how we get all this done. But that's the goal,

829
00:44:56,640 --> 00:45:00,960
Speaker 1: is to run it under a family umbrella. You know

830
00:45:01,120 --> 00:45:03,920
Speaker 1: David Coleman, he lost his seat at the last election.

831
00:45:04,040 --> 00:45:07,759
Speaker 1: The member for Banks love him, great man he is.

832
00:45:08,400 --> 00:45:11,640
Speaker 1: This is his bread and butter, the Merdier space he's

833
00:45:11,760 --> 00:45:13,480
Speaker 1: consulting out on on wellst.

834
00:45:13,520 --> 00:45:15,480
Speaker 2: We don't realize, by the way, he was at nine Yeah,

835
00:45:15,600 --> 00:45:17,360
Speaker 2: formerly worked for nine Yeah, and he was on my

836
00:45:17,440 --> 00:45:19,160
Speaker 2: board actually at the little Bit for a number of

837
00:45:19,239 --> 00:45:21,000
Speaker 2: years and I worked with him.

838
00:45:21,000 --> 00:45:23,680
Speaker 1: He's a very good operator. And he rang me the

839
00:45:23,840 --> 00:45:26,279
Speaker 1: day that the deal was announced and he said, you

840
00:45:26,440 --> 00:45:29,640
Speaker 1: know what, he said, this makes sense, He said, they

841
00:45:29,680 --> 00:45:33,400
Speaker 1: don't see it yet, but this business under family ownership

842
00:45:34,000 --> 00:45:37,960
Speaker 1: and the networks that you've got and the connections, this

843
00:45:38,200 --> 00:45:43,759
Speaker 1: makes sense. And you know that's that was really encouraging.

844
00:45:43,960 --> 00:45:47,080
Speaker 1: We thought it. But when someone like David, as knowledgeable

845
00:45:47,080 --> 00:45:49,400
Speaker 1: as he is in this space says it, it's.

846
00:45:49,320 --> 00:45:52,560
Speaker 2: Nice to have it reinforced and he's a and he's

847
00:45:52,560 --> 00:45:56,640
Speaker 2: the sort of guy. He's another super smart guy.

848
00:45:56,960 --> 00:45:59,560
Speaker 1: And I think I said to David at the time,

849
00:46:00,360 --> 00:46:03,960
Speaker 1: I had you in mind to talk to post beating

850
00:46:04,040 --> 00:46:09,000
Speaker 1: it down on digital opportunities moving forward? Now is he said,

851
00:46:09,320 --> 00:46:13,000
Speaker 1: I'm consulting tonight, said, but my relationship with Matt Stanton

852
00:46:13,080 --> 00:46:15,840
Speaker 1: now is that good and strong that I'm sure I

853
00:46:15,880 --> 00:46:17,480
Speaker 1: could go to that and say, do you mind if

854
00:46:17,560 --> 00:46:20,759
Speaker 1: I get David to consult to us too about opportunities

855
00:46:20,800 --> 00:46:23,480
Speaker 1: for the business moving forward? So do you do you

856
00:46:23,640 --> 00:46:24,840
Speaker 1: see the.

857
00:46:27,120 --> 00:46:30,000
Speaker 2: Laundy radio assets, which is what they're now going to

858
00:46:30,040 --> 00:46:35,640
Speaker 2: be referred to as from one may as political influence

859
00:46:35,680 --> 00:46:38,160
Speaker 2: because you know, the two GIBI and three W in

860
00:46:38,200 --> 00:46:40,960
Speaker 2: particular have had a fairly liberal bent.

861
00:46:42,480 --> 00:46:45,160
Speaker 1: And I don't see that. I don't see that changing

862
00:46:45,680 --> 00:46:47,400
Speaker 1: because that's what is that more? Is that more the

863
00:46:47,440 --> 00:46:50,960
Speaker 1: broadcast itself? Is that more the host personalities? That so

864
00:46:51,239 --> 00:46:53,800
Speaker 1: you know, I use the term. You know a journal

865
00:46:53,880 --> 00:46:56,279
Speaker 1: asked me this question, the same question I said, why

866
00:46:56,320 --> 00:46:58,640
Speaker 1: would I buy a dog? And then bark myself. You

867
00:46:58,719 --> 00:47:01,960
Speaker 1: know that's that the show and the beauty of these

868
00:47:02,080 --> 00:47:07,000
Speaker 1: networks is they are they are the subject of the

869
00:47:07,239 --> 00:47:11,640
Speaker 1: host's point of view and ultimately the listener's point of view,

870
00:47:12,200 --> 00:47:15,719
Speaker 1: because it's talkback, it's calling, it's talk So a host

871
00:47:15,840 --> 00:47:19,680
Speaker 1: may go into a morning or a breakfast period afternoon

872
00:47:19,840 --> 00:47:23,400
Speaker 1: night with a set point of view, but the calls

873
00:47:23,480 --> 00:47:26,480
Speaker 1: that result from that point of view, when expressed could

874
00:47:26,560 --> 00:47:30,000
Speaker 1: well be changed, you know, by the callers, and the

875
00:47:30,040 --> 00:47:33,919
Speaker 1: host could change their position on the spot in real time.

876
00:47:34,440 --> 00:47:36,840
Speaker 1: And that's the beauty of talkback radio. I said to

877
00:47:36,880 --> 00:47:39,319
Speaker 1: a journal you know, he said, when did you start

878
00:47:39,360 --> 00:47:41,839
Speaker 1: listening to talkback radio? I rocked up at the Twin

879
00:47:41,920 --> 00:47:45,800
Speaker 1: Whelows Hotel bottle shop in nineteen eighty nine as a

880
00:47:45,920 --> 00:47:49,719
Speaker 1: casual to work a casual shift of a nighttime there

881
00:47:49,920 --> 00:47:55,160
Speaker 1: while at UNI for pocket money, and Stanza Marnik was

882
00:47:55,200 --> 00:47:59,080
Speaker 1: on the raiderstand and I'd never heard talkback radio. I

883
00:47:59,120 --> 00:48:03,239
Speaker 1: always listened to me and the person going out on

884
00:48:03,320 --> 00:48:06,600
Speaker 1: the shift had the radio. And in the five minutes

885
00:48:06,640 --> 00:48:11,080
Speaker 1: it took to balance the float, to count the till

886
00:48:11,880 --> 00:48:15,680
Speaker 1: and cash him out and cash me in, I listened

887
00:48:15,719 --> 00:48:19,279
Speaker 1: to Stanza Mark for five minutes. I was cooked. It

888
00:48:19,640 --> 00:48:22,640
Speaker 1: was just crazy. You did not know what was going

889
00:48:22,680 --> 00:48:26,160
Speaker 1: to happen next, And you know, that's the beauty of

890
00:48:26,239 --> 00:48:31,279
Speaker 1: talkback radio and that our challenge, Mark is how we

891
00:48:31,520 --> 00:48:35,400
Speaker 1: take it? You know at that stage at eighteen, for

892
00:48:35,520 --> 00:48:38,839
Speaker 1: me I was a music listener. I would have been

893
00:48:38,960 --> 00:48:44,040
Speaker 1: Kyle and Jackie, oh fodder. How do we take the

894
00:48:44,160 --> 00:48:49,200
Speaker 1: talkback listening? Murdier now the market from the thirty five

895
00:48:49,400 --> 00:48:54,239
Speaker 1: plus age range, and how do we use digital? You know,

896
00:48:55,000 --> 00:48:58,080
Speaker 1: steps and Lawrence is here recording this. He's going to

897
00:48:58,080 --> 00:49:01,200
Speaker 1: be a command in this. How how do we use that?

898
00:49:01,360 --> 00:49:04,560
Speaker 1: You know? The access to podcasts? There was one launch

899
00:49:04,680 --> 00:49:09,239
Speaker 1: this week from to GB mark my words, it was

900
00:49:09,400 --> 00:49:14,040
Speaker 1: Mark Gyer, Mark Levy. Obviously the plays on the marks.

901
00:49:14,600 --> 00:49:19,000
Speaker 1: But these sorts of platforms we have access to, how

902
00:49:19,080 --> 00:49:21,720
Speaker 1: do we use them to access new listeners.

903
00:49:23,040 --> 00:49:27,600
Speaker 2: In terms of sport, Nine obviously owns the football rights

904
00:49:27,840 --> 00:49:32,560
Speaker 2: and rogul leeb rights and other rights. But they'll presumably

905
00:49:32,640 --> 00:49:35,080
Speaker 2: they'll win the next lot of rights. Probably have to

906
00:49:35,120 --> 00:49:37,239
Speaker 2: pay a bit more if landy'says his way, but they

907
00:49:38,239 --> 00:49:41,520
Speaker 2: and the Nine Radio Group which is now the Laundry

908
00:49:41,600 --> 00:49:44,960
Speaker 2: Radio Group, has always shared in those rights. In terms

909
00:49:45,000 --> 00:49:49,360
Speaker 2: of content and talent, What were you guys better do

910
00:49:49,400 --> 00:49:50,880
Speaker 2: if going forward? Because obviously you're not going to go

911
00:49:50,960 --> 00:49:54,880
Speaker 2: buy the footy rights, So no, although some sharing arrangement.

912
00:49:55,000 --> 00:49:58,520
Speaker 1: Yeah. Look, I can't imagine this hasn't come up yet.

913
00:49:59,200 --> 00:50:02,600
Speaker 1: I've thought of it as you've posed it. I can't

914
00:50:02,600 --> 00:50:05,040
Speaker 1: imagine with the strength of the relationship we're building with

915
00:50:05,160 --> 00:50:09,520
Speaker 1: Matt that we wouldn't be, you know, side by side,

916
00:50:09,960 --> 00:50:13,000
Speaker 1: you know, like a mutuality. Yes, it's been sitting with

917
00:50:13,120 --> 00:50:15,960
Speaker 1: them and saying, you know, we're here to do the radio.

918
00:50:16,480 --> 00:50:18,520
Speaker 1: You know, the a f L and the rugby League

919
00:50:18,560 --> 00:50:21,800
Speaker 1: is extremely important to the radio business. You know, what

920
00:50:21,920 --> 00:50:24,800
Speaker 1: does it look like the other thing for Matt and

921
00:50:25,040 --> 00:50:28,160
Speaker 1: we we work this out during the process. You know,

922
00:50:29,000 --> 00:50:33,880
Speaker 1: Stan as it currently sits doesn't suit license venues, and

923
00:50:34,000 --> 00:50:36,680
Speaker 1: we've got some strong ideas, particularly my brother in law

924
00:50:36,760 --> 00:50:41,000
Speaker 1: Shane has strong ideas on how we could make that

925
00:50:41,080 --> 00:50:47,080
Speaker 1: fit for purpose. Once that happens, you know, the rugby

926
00:50:47,200 --> 00:50:50,800
Speaker 1: league rights into licensed venues becomes an interesting arena for

927
00:50:50,960 --> 00:50:54,120
Speaker 1: Matt to think about as well, potentially. But you know

928
00:50:54,239 --> 00:50:57,200
Speaker 1: this is all water still, you know, yet to go

929
00:50:57,400 --> 00:50:59,319
Speaker 1: under the bridge. Yeah, this is future stup.

930
00:50:59,400 --> 00:51:01,839
Speaker 2: But I guess you're saying is you've thought of these things, yes,

931
00:51:02,120 --> 00:51:05,680
Speaker 2: because I think the perception is out there amongst people

932
00:51:05,680 --> 00:51:08,160
Speaker 2: who don't know you and Arthur, et cetera. But the

933
00:51:08,239 --> 00:51:10,800
Speaker 2: perception is out there or the public gun is what

934
00:51:10,840 --> 00:51:12,920
Speaker 2: the hell they're doing buying radio stations, what they know

935
00:51:12,960 --> 00:51:14,600
Speaker 2: about it? And I think one of the reasons I

936
00:51:14,719 --> 00:51:16,960
Speaker 2: wanted to get this podcast done and it's great and

937
00:51:17,040 --> 00:51:18,879
Speaker 2: I really appreciate you being able to do this while

938
00:51:19,000 --> 00:51:21,880
Speaker 2: here in Vegas, but I thought it was also timely

939
00:51:22,640 --> 00:51:25,719
Speaker 2: and to do it with you like live straight off

940
00:51:25,800 --> 00:51:29,360
Speaker 2: the footy match. But what they don't realize is you

941
00:51:29,440 --> 00:51:31,680
Speaker 2: guys have done the homework on this and all the

942
00:51:31,760 --> 00:51:34,040
Speaker 2: synergies it exists that you're talking about. You know, the

943
00:51:34,239 --> 00:51:38,680
Speaker 2: pub's venues for sport are venues for sport, and it

944
00:51:38,840 --> 00:51:43,080
Speaker 2: is mutually valuable for nine for you to cross promote

945
00:51:43,280 --> 00:51:45,279
Speaker 2: what they pay they're going to pay money for and.

946
00:51:45,360 --> 00:51:48,719
Speaker 1: Matt's work that out. So I mean, you deal with

947
00:51:48,840 --> 00:51:51,759
Speaker 1: it through these processes. Mark, You've been in many of them.

948
00:51:52,360 --> 00:51:54,640
Speaker 1: You know they are listed. They need to use an

949
00:51:54,680 --> 00:51:59,000
Speaker 1: investment bank, yeah, an advisor, an investing advisor. We don't

950
00:51:59,080 --> 00:52:02,960
Speaker 1: need to do that. But the reality is this thing

951
00:52:03,160 --> 00:52:07,000
Speaker 1: took me four months to do. Dad, myself, Shane and

952
00:52:07,080 --> 00:52:11,359
Speaker 1: Danielle and I four months to do the part I'm

953
00:52:11,400 --> 00:52:14,759
Speaker 1: proudest of. It never looked because as a family we're

954
00:52:15,080 --> 00:52:17,400
Speaker 1: very tight knit and we just stick to our knitting

955
00:52:17,960 --> 00:52:23,719
Speaker 1: and don't talk publicly often. But also what I said

956
00:52:23,760 --> 00:52:26,400
Speaker 1: to the investment bank in mid January, we got to

957
00:52:26,480 --> 00:52:30,960
Speaker 1: a point where and I said this bluntly to Michael

958
00:52:31,040 --> 00:52:35,400
Speaker 1: from Jeffries, you need to put Matt nine in a

959
00:52:35,480 --> 00:52:39,520
Speaker 1: room now. It's come to a point where this needs

960
00:52:39,560 --> 00:52:42,719
Speaker 1: to be him and me. Why do I building a

961
00:52:42,800 --> 00:52:46,839
Speaker 1: relationship to get this done? Two days later that was done.

962
00:52:47,760 --> 00:52:50,839
Speaker 1: That meeting took an hour and a half. It's fair

963
00:52:50,920 --> 00:52:54,120
Speaker 1: to say Matt had no idea because we try to

964
00:52:54,160 --> 00:52:57,360
Speaker 1: stay as under the radar as we can of the

965
00:52:57,880 --> 00:53:02,880
Speaker 1: breadth and the depth of our business and the relationship

966
00:53:02,960 --> 00:53:06,520
Speaker 1: that we could form with him, and the value add

967
00:53:06,760 --> 00:53:11,279
Speaker 1: we could provide to nine moving forward. But he knows

968
00:53:11,360 --> 00:53:14,080
Speaker 1: that now. And I saw him like you did last night.

969
00:53:14,719 --> 00:53:18,080
Speaker 1: You know, he's a straight shooter. I've enjoyed dealing with him.

970
00:53:18,200 --> 00:53:20,839
Speaker 1: We've got this deal done, but there are many more

971
00:53:20,920 --> 00:53:23,040
Speaker 1: things that we I think we will do with them.

972
00:53:23,080 --> 00:53:27,840
Speaker 2: Or mayn't understand his numbers brilliantly, and he said to

973
00:53:27,920 --> 00:53:29,759
Speaker 2: me last night it was actually a good deal for

974
00:53:29,840 --> 00:53:31,839
Speaker 2: nine and I don't think he is necessarily talking about

975
00:53:31,840 --> 00:53:35,000
Speaker 2: the price. I think he's talk about the future and

976
00:53:36,600 --> 00:53:40,360
Speaker 2: he did mention so the sharing arrangements, the sharing arrangements.

977
00:53:40,000 --> 00:53:44,840
Speaker 1: But also Mark, you know, he's it become very apparent

978
00:53:44,960 --> 00:53:48,280
Speaker 1: through the process. There's three hundred and thirty staff involved,

979
00:53:48,719 --> 00:53:51,080
Speaker 1: and we've now met them all. And it's fair to

980
00:53:51,200 --> 00:53:55,120
Speaker 1: say the relief that it's now going to be family

981
00:53:55,239 --> 00:53:58,040
Speaker 1: run and that no one's going to be sacked was

982
00:53:58,200 --> 00:54:01,680
Speaker 1: that's a big year. And Matt got that. Matt said,

983
00:54:02,040 --> 00:54:05,480
Speaker 1: you are the logical place for this business to go,

984
00:54:06,080 --> 00:54:09,160
Speaker 1: because Matt wanted to look after his people, you know,

985
00:54:09,640 --> 00:54:13,200
Speaker 1: and that that is a great trait for a CEO

986
00:54:13,360 --> 00:54:16,399
Speaker 1: to have. It's not often reported on the financial press

987
00:54:16,440 --> 00:54:19,080
Speaker 1: because you live and die by numbers, but it became

988
00:54:20,320 --> 00:54:24,560
Speaker 1: absolutely apparent through the process that you know, if we

989
00:54:24,680 --> 00:54:28,120
Speaker 1: were to take over, we would not only not sack people,

990
00:54:28,239 --> 00:54:31,799
Speaker 1: we'd need more people and you know, employing people. We've

991
00:54:31,800 --> 00:54:34,560
Speaker 1: got now over three thousand staff Mark in the lawn

992
00:54:34,640 --> 00:54:38,279
Speaker 1: hotel business. You know, employing people is something that we've

993
00:54:38,320 --> 00:54:41,560
Speaker 1: been doing for four generations now in our family. It

994
00:54:41,800 --> 00:54:44,640
Speaker 1: takes guts to do it. You've got to back yourself.

995
00:54:44,680 --> 00:54:47,000
Speaker 1: You put your family home on the line, as you

996
00:54:47,040 --> 00:54:51,200
Speaker 1: said earlier, the mortgage, the school fees, all these considerations.

997
00:54:51,719 --> 00:54:56,960
Speaker 1: But for a big CEO to identify early and then

998
00:54:57,080 --> 00:54:58,680
Speaker 1: have the chat with me and say, you know what,

999
00:54:59,440 --> 00:55:01,480
Speaker 1: this is the logical place for this business to go.

1000
00:55:02,160 --> 00:55:05,160
Speaker 1: He you know, we explained our vision, we shared our vision.

1001
00:55:05,600 --> 00:55:08,680
Speaker 1: He bought in and I can't see this, you know,

1002
00:55:08,920 --> 00:55:12,120
Speaker 1: not having a good relationship moving forward. And he's a

1003
00:55:12,360 --> 00:55:16,200
Speaker 1: happy over the moon, you know, Dad. You interviewed him

1004
00:55:16,600 --> 00:55:20,640
Speaker 1: and he juts back in time in a lot of ways.

1005
00:55:20,680 --> 00:55:23,600
Speaker 1: He remembers stuff that happens sixty years ago better than

1006
00:55:23,640 --> 00:55:26,760
Speaker 1: what happened yesterday. Who is eighty he's eighty four, almost

1007
00:55:26,800 --> 00:55:30,520
Speaker 1: eighty five. But he has this saying he's only said

1008
00:55:30,560 --> 00:55:35,080
Speaker 1: it a few times, and I don't know if he

1009
00:55:35,080 --> 00:55:36,880
Speaker 1: says it to the other kids, saying, I have a

1010
00:55:37,520 --> 00:55:40,600
Speaker 1: on the oldest boy. He comes from a generation where

1011
00:55:40,920 --> 00:55:45,160
Speaker 1: the oldest boys raised differently to the others. Old school, Yeah,

1012
00:55:45,360 --> 00:55:49,520
Speaker 1: old school and hard. Right. I've been raised hard and

1013
00:55:49,640 --> 00:55:51,320
Speaker 1: my brothers and sisters, I hope they listen to this,

1014
00:55:51,400 --> 00:55:57,600
Speaker 1: have gotten easy run. But sure, easy run. But he

1015
00:55:58,120 --> 00:55:59,960
Speaker 1: has said this only a few times, but he said

1016
00:56:00,160 --> 00:56:03,200
Speaker 1: it when we got the deal done. He was sitting

1017
00:56:03,239 --> 00:56:06,279
Speaker 1: with him and he chokes, and I'm going to choke

1018
00:56:06,320 --> 00:56:08,480
Speaker 1: telling you this. He looks at me and he said,

1019
00:56:08,520 --> 00:56:11,440
Speaker 1: I wish my mum and dad could see could see this.

1020
00:56:12,480 --> 00:56:18,040
Speaker 1: And that's his benchmark he has fought for. He lost

1021
00:56:18,120 --> 00:56:21,680
Speaker 1: his dad at twenty nine. And I'm now choking up.

1022
00:56:21,840 --> 00:56:24,640
Speaker 1: He's lost his dad at twenty nine. How you spent

1023
00:56:24,960 --> 00:56:29,719
Speaker 1: the last what's that sixty six years? No, too many,

1024
00:56:29,800 --> 00:56:35,320
Speaker 1: fifty six years trying to make his dad proud without

1025
00:56:35,480 --> 00:56:37,960
Speaker 1: ever having the chance to have his dad tell him

1026
00:56:37,960 --> 00:56:41,440
Speaker 1: he's proud of him. That's amazing. I'm blessed because I've

1027
00:56:41,480 --> 00:56:43,279
Speaker 1: had the chance to have my dad. You know, when

1028
00:56:43,320 --> 00:56:45,960
Speaker 1: I was elected to parliament, became a minister, I had

1029
00:56:46,040 --> 00:56:49,640
Speaker 1: him there. And he tells me often, not as often

1030
00:56:49,719 --> 00:56:53,160
Speaker 1: he probably could again that generation that he's proud of me.

1031
00:56:53,280 --> 00:56:56,120
Speaker 1: But I have him at eighty five. He lost his

1032
00:56:56,280 --> 00:56:59,160
Speaker 1: dad at twenty nine, and you know the gravity of

1033
00:56:59,400 --> 00:57:05,040
Speaker 1: this radio purchase for him, how proud he is. It's

1034
00:57:05,080 --> 00:57:07,279
Speaker 1: as good as you get. When he says, I wish

1035
00:57:07,920 --> 00:57:08,920
Speaker 1: mom and dad could see this.

1036
00:57:09,280 --> 00:57:12,360
Speaker 2: Wow, I mean that's I mean, I just think what

1037
00:57:12,480 --> 00:57:14,800
Speaker 2: you guys are doing, you know, in your sponsorship of

1038
00:57:14,920 --> 00:57:17,840
Speaker 2: the Dogs and you know, the assistant helping the dogs

1039
00:57:17,880 --> 00:57:22,160
Speaker 2: build this fantastic family relationship and culture and the organization

1040
00:57:22,280 --> 00:57:24,320
Speaker 2: and taking your family and actually doing this with two

1041
00:57:24,400 --> 00:57:28,480
Speaker 2: GB and all the other radio stations and you know,

1042
00:57:29,720 --> 00:57:32,240
Speaker 2: trying to keep it in a good place but improve it.

1043
00:57:33,040 --> 00:57:36,760
Speaker 2: And the honesty you've just shared with us today. Actually

1044
00:57:36,840 --> 00:57:39,040
Speaker 2: you have to tear something very interesting great with just

1045
00:57:39,320 --> 00:57:42,440
Speaker 2: watching you. Then I remember your dad when I did

1046
00:57:42,480 --> 00:57:44,560
Speaker 2: the podcast with your dad, right towards the end when

1047
00:57:44,600 --> 00:57:47,240
Speaker 2: he started talking at his family, he got quite emotional,

1048
00:57:47,600 --> 00:57:50,919
Speaker 2: as you have now. And as they say, the apple

1049
00:57:50,960 --> 00:57:53,360
Speaker 2: doesn't drop far from the tree. And I really appreciate

1050
00:57:53,400 --> 00:57:55,800
Speaker 2: your time, mate, Thanks, it's been brilliant. Actually I really

1051
00:57:55,840 --> 00:57:59,840
Speaker 2: appreciate time. But I appreciate your honesty, but your ability

1052
00:57:59,880 --> 00:58:03,880
Speaker 2: to explain things which are reasonably complex, but you explain

1053
00:58:04,000 --> 00:58:07,280
Speaker 2: things in a publican's way, the way you.

1054
00:58:07,280 --> 00:58:12,080
Speaker 1: Would at the pub or in retail politics and retail polity.

1055
00:58:12,640 --> 00:58:15,320
Speaker 1: And I've always said this, burning a politician is very

1056
00:58:15,360 --> 00:58:16,160
Speaker 1: similar to burning.

1057
00:58:16,000 --> 00:58:18,360
Speaker 2: A public And bring back Craig Laundy, we our camera

1058
00:58:18,640 --> 00:58:20,920
Speaker 2: bring him back. I want him back, and you know

1059
00:58:21,040 --> 00:58:23,479
Speaker 2: what I know, I hope running a talkback radio station.

1060
00:58:23,800 --> 00:58:25,480
Speaker 1: I sent a memo out to the staff, Dad and

1061
00:58:25,560 --> 00:58:28,080
Speaker 1: I did on the day we took over, and I

1062
00:58:28,320 --> 00:58:31,760
Speaker 1: used my son, Charlie, who's a great wordsmith. I know Charlie.

1063
00:58:31,800 --> 00:58:35,160
Speaker 1: You know Charlie, and he helped me pen it because

1064
00:58:35,200 --> 00:58:37,600
Speaker 1: he's a far better wordsmith than I am. I got

1065
00:58:37,680 --> 00:58:40,360
Speaker 1: him to put in the term in the middle of it,

1066
00:58:40,760 --> 00:58:45,560
Speaker 1: and Lawrence would have seen it. First time caller, longtime listener,

1067
00:58:45,640 --> 00:58:48,280
Speaker 1: long time listener, first time caller. And I signed off

1068
00:58:48,320 --> 00:58:53,240
Speaker 1: the memo by saying, longtime listener, first time owner. And

1069
00:58:53,600 --> 00:58:58,960
Speaker 1: that's that's the mentality we take in anything we do.

1070
00:58:59,200 --> 00:59:02,400
Speaker 1: I know we've talked hubs and radio today we're in

1071
00:59:02,520 --> 00:59:07,280
Speaker 1: other businesses, but you know, it's that mentality. Family business

1072
00:59:08,040 --> 00:59:12,720
Speaker 1: is at our core. And and you get it. You've

1073
00:59:12,800 --> 00:59:15,280
Speaker 1: done it, and which is why we've got on so

1074
00:59:15,440 --> 00:59:17,360
Speaker 1: well for a long time now. But it's it's such

1075
00:59:17,400 --> 00:59:20,040
Speaker 1: a thrill to be with you today. I can't believe

1076
00:59:20,440 --> 00:59:23,120
Speaker 1: that you asked me to do it, Are you serious? Yeah?

1077
00:59:23,320 --> 00:59:26,240
Speaker 1: I got I got a real thrill that you asked

1078
00:59:26,280 --> 00:59:28,560
Speaker 1: me to do this, because I find as a privilege.

1079
00:59:28,640 --> 00:59:31,080
Speaker 1: I got surprised you agreed to do it, particularly in Vegas,

1080
00:59:31,480 --> 00:59:33,800
Speaker 1: because I no, no, no, it's it's it's it's such

1081
00:59:33,840 --> 00:59:36,200
Speaker 1: a it was a thrill and honor. You've got such

1082
00:59:36,240 --> 00:59:39,440
Speaker 1: a great following, and you do this so well, and

1083
00:59:39,560 --> 00:59:42,080
Speaker 1: it's very relaxed and comfortable to open up to you

1084
00:59:42,320 --> 00:59:46,960
Speaker 1: because we're friends and I respect you and what you've

1085
00:59:47,000 --> 00:59:49,520
Speaker 1: done so made. I'm thrilled to be here and it's

1086
00:59:49,600 --> 00:59:52,160
Speaker 1: in Vegas and dogs one last night, so what could

1087
00:59:52,200 --> 00:59:55,360
Speaker 1: possibly go wrong? You can't get any better. Thanks, mate,

1088
00:59:55,360 --> 00:59:57,520
Speaker 1: appreciate it. Good on your mark. Cheers mate,