1 00:00:06,240 --> 00:00:08,600 Speaker 1: This is the weekend edition of Fear and Greed, daily 2 00:00:08,640 --> 00:00:10,879 Speaker 1: business news for people who make their own decisions. Are 3 00:00:10,960 --> 00:00:12,959 Speaker 1: Michael Thompson and good morning, Sean. 4 00:00:13,039 --> 00:00:15,880 Speaker 2: Aylmer, Good morning, Michael, Sean. 5 00:00:16,200 --> 00:00:18,000 Speaker 1: Our weekend show is all about the two of us, 6 00:00:18,000 --> 00:00:21,439 Speaker 1: each nominating what we think is the biggest business story 7 00:00:21,480 --> 00:00:24,400 Speaker 1: of the week, the most remarkable business story, a sleeper story, 8 00:00:24,440 --> 00:00:26,200 Speaker 1: which is the one I always struggle with it as 9 00:00:26,239 --> 00:00:27,760 Speaker 1: the one that's kind of flying under the radar a 10 00:00:27,760 --> 00:00:31,920 Speaker 1: little bit, and then our favorite business ish story. It's 11 00:00:31,920 --> 00:00:34,800 Speaker 1: a competition, a Feerce competition, so we need a judge 12 00:00:34,880 --> 00:00:37,640 Speaker 1: to pick a winner each week. That judge our Fear 13 00:00:37,680 --> 00:00:41,120 Speaker 1: and Greed colleague, Adam Lang Adam, good morning. 14 00:00:41,000 --> 00:00:43,760 Speaker 3: Good morning, Michael, Good morning, Sean Morning. 15 00:00:44,040 --> 00:00:46,560 Speaker 2: Judge Adam, morning, Adam. 16 00:00:46,600 --> 00:00:48,760 Speaker 1: Can you vary very briefly, just tell us what you 17 00:00:48,800 --> 00:00:51,520 Speaker 1: are theoretically looking for today. 18 00:00:53,000 --> 00:00:58,880 Speaker 3: My notional criteria topicality, timeliness, stories with big economic impact 19 00:00:59,040 --> 00:01:01,080 Speaker 3: is what we want. I'd love it if you play 20 00:01:01,120 --> 00:01:04,920 Speaker 3: up to some subjective bias of mine, and please if 21 00:01:04,920 --> 00:01:09,160 Speaker 3: you can a little melodrama. 22 00:01:08,760 --> 00:01:13,800 Speaker 2: Right right, well, I mean, listeners, forget everything Adam's just said, 23 00:01:13,840 --> 00:01:16,840 Speaker 2: because irrelevant judging do. 24 00:01:16,840 --> 00:01:19,200 Speaker 1: You like how he just finished giving those and just 25 00:01:19,319 --> 00:01:24,720 Speaker 1: Sean and I just the ante ago whatever matter? Do 26 00:01:24,800 --> 00:01:27,840 Speaker 1: they matter? Look, I'm going to go first, because we 27 00:01:27,880 --> 00:01:35,520 Speaker 1: are today is all about brevity. What what a massive, 28 00:01:36,520 --> 00:01:45,240 Speaker 1: massive week for the economy as brevity is key today though, gentlemen, 29 00:01:46,280 --> 00:01:53,919 Speaker 1: in three sentences only allow me to summarize the biggest 30 00:01:54,200 --> 00:01:58,120 Speaker 1: week of the year for the Australian economy. 31 00:01:58,440 --> 00:01:59,920 Speaker 2: I certainly hope something happened. 32 00:02:00,600 --> 00:02:07,960 Speaker 1: Number one, the Reserve Bank of Australia left interest rates 33 00:02:08,080 --> 00:02:09,799 Speaker 1: on hold, but opened the door. 34 00:02:11,600 --> 00:02:15,400 Speaker 2: Well, off we go, let's have a party, opened the 35 00:02:15,720 --> 00:02:21,960 Speaker 2: door sean to maybe to maybe maybe. 36 00:02:21,880 --> 00:02:27,600 Speaker 1: Considering maybe considering rape cuts in the future. There we go, a. 37 00:02:27,600 --> 00:02:29,440 Speaker 2: Few caveats in that one. 38 00:02:30,680 --> 00:02:36,919 Speaker 1: That's number one sentence number two mm hmm. Then came 39 00:02:37,280 --> 00:02:48,840 Speaker 1: the most staggering set of unemployment figures imaginable. The Melbourne 40 00:02:48,840 --> 00:02:52,160 Speaker 1: Cup doesn't stop the nation these jobless figures. Did you 41 00:02:52,240 --> 00:02:55,240 Speaker 1: know why? Because it fell to three point nine percent 42 00:02:55,639 --> 00:03:01,360 Speaker 1: to three point nine the last since March Sean, everybody 43 00:03:01,440 --> 00:03:08,120 Speaker 1: stop when it was it was expecting, everyone was expecting 44 00:03:08,120 --> 00:03:10,440 Speaker 1: it to be inching higher. And now it's just got 45 00:03:10,560 --> 00:03:12,400 Speaker 1: you know what, guys, I'm going to do my own thing. 46 00:03:12,480 --> 00:03:13,640 Speaker 1: I'm going the other way. 47 00:03:13,600 --> 00:03:15,680 Speaker 2: Three point inch lower. 48 00:03:16,120 --> 00:03:20,560 Speaker 1: Yeah, a little shimmy the disrespect today. So that sentence 49 00:03:20,639 --> 00:03:23,320 Speaker 1: number two, there's obviously been a few little extra sentences 50 00:03:23,840 --> 00:03:27,639 Speaker 1: scattered throughout sentence number three. If I may just wrap 51 00:03:27,680 --> 00:03:30,119 Speaker 1: it all up in one final sentence, ignore everything else 52 00:03:30,160 --> 00:03:32,840 Speaker 1: I've just said, they don't count. My sentences are the 53 00:03:32,880 --> 00:03:33,280 Speaker 1: ones I. 54 00:03:33,240 --> 00:03:34,440 Speaker 2: Did you know? 55 00:03:34,920 --> 00:03:37,080 Speaker 1: I've made a rod for my own back here by 56 00:03:37,160 --> 00:03:38,960 Speaker 1: announcing that I would do it in three sentences, but 57 00:03:39,040 --> 00:03:42,520 Speaker 1: we all know I can't. We started the week, this 58 00:03:42,560 --> 00:03:47,120 Speaker 1: is context, right, We started the week with a lot 59 00:03:47,400 --> 00:03:50,320 Speaker 1: more hope, but we were given hope. We were gifted 60 00:03:50,600 --> 00:03:54,280 Speaker 1: this idea that interest rate cuts are on their way, 61 00:03:55,160 --> 00:04:00,120 Speaker 1: and we finished this week with those hopes being dashed 62 00:04:00,480 --> 00:04:06,240 Speaker 1: because the labor market, Australia's extraordinary labor market is just 63 00:04:06,360 --> 00:04:08,040 Speaker 1: too darn strong. 64 00:04:08,360 --> 00:04:14,840 Speaker 2: So your biggest story is unemployment, fell? Is that the 65 00:04:14,840 --> 00:04:15,600 Speaker 2: bottom line? 66 00:04:15,800 --> 00:04:17,400 Speaker 1: It was the fact that this was the biggest week 67 00:04:17,400 --> 00:04:20,359 Speaker 1: of the year economy. Yeah, and we had kind of 68 00:04:20,440 --> 00:04:23,680 Speaker 1: Reserve Bank board meeting, We had the opening of the 69 00:04:23,760 --> 00:04:27,200 Speaker 1: door to interest rate cuts and then bang that door 70 00:04:27,240 --> 00:04:29,839 Speaker 1: being slammed shut again by jobs. 71 00:04:30,440 --> 00:04:34,279 Speaker 2: Okay, I get that. Adam always goes to the economic story, right, 72 00:04:34,520 --> 00:04:39,480 Speaker 2: It's just this predisposition. So I wasn't even going to 73 00:04:39,520 --> 00:04:42,520 Speaker 2: try except for the fact there are three of the 74 00:04:42,560 --> 00:04:46,400 Speaker 2: biggest pieces of policy. It's going to affect families, it's 75 00:04:46,400 --> 00:04:49,320 Speaker 2: going to affect the economy, that's going to affect our 76 00:04:49,360 --> 00:04:54,000 Speaker 2: whole energy renewal finger me jig for decades to come. 77 00:04:54,839 --> 00:04:57,600 Speaker 2: These are the three policies or three of the policies 78 00:04:57,640 --> 00:05:01,080 Speaker 2: that the election next year is going to be four over. 79 00:05:01,440 --> 00:05:04,560 Speaker 1: Just say three policies or three separate stories to just 80 00:05:04,600 --> 00:05:06,520 Speaker 1: say you're combining into one. 81 00:05:06,800 --> 00:05:09,920 Speaker 2: Leave it alone, Michael, three things, three big big issues. 82 00:05:09,920 --> 00:05:12,080 Speaker 2: This week, the Prime Minister said the activity test for 83 00:05:12,160 --> 00:05:16,880 Speaker 2: childcare payments would be removed, something that the opposition doesn't 84 00:05:16,880 --> 00:05:18,840 Speaker 2: want to happen. He also announced a one billion dollar 85 00:05:18,880 --> 00:05:23,320 Speaker 2: early education fund. The Govern's also considering a scheme where 86 00:05:23,360 --> 00:05:25,400 Speaker 2: families pay a fat fee of ten dollars or twenty 87 00:05:25,400 --> 00:05:29,640 Speaker 2: dollars a day for childcare. Think about childcare, It's not 88 00:05:29,640 --> 00:05:31,839 Speaker 2: about the parents where they can afford it. It's actually 89 00:05:31,839 --> 00:05:34,720 Speaker 2: about the children getting access to it. That seems to 90 00:05:34,760 --> 00:05:37,120 Speaker 2: be missed in this whole debate. If you can have 91 00:05:37,360 --> 00:05:42,599 Speaker 2: kids ages of three to four accessing early education, their 92 00:05:42,640 --> 00:05:47,240 Speaker 2: developmental health is far far greater, and their futures are 93 00:05:47,320 --> 00:05:50,520 Speaker 2: far far brighter. And you know, my partner Jackie, is 94 00:05:50,600 --> 00:05:52,120 Speaker 2: very heavily involved in this one, so they have to 95 00:05:52,160 --> 00:05:54,440 Speaker 2: take my word on this one. It is such an 96 00:05:54,440 --> 00:05:59,360 Speaker 2: important thing that kids get access to education before they 97 00:05:59,400 --> 00:06:04,039 Speaker 2: get just school. One big issue between the two parties 98 00:06:04,080 --> 00:06:06,320 Speaker 2: the second one. The Coalition came out yesterday with its 99 00:06:06,440 --> 00:06:12,000 Speaker 2: nuclear power costings, its modelers Frontier Economics reckons it will 100 00:06:12,000 --> 00:06:14,680 Speaker 2: cost two hundred and sixty three billion dollars less than 101 00:06:14,760 --> 00:06:19,760 Speaker 2: Labour's renewable rollout between now and twenty fifty. We had 102 00:06:19,920 --> 00:06:22,560 Speaker 2: the Labour Party coming out and saying, well, there is 103 00:06:22,800 --> 00:06:27,960 Speaker 2: some pretty heroic assumptions in all that under this coalition's model, 104 00:06:28,000 --> 00:06:31,240 Speaker 2: which involves seven nuclear power plants, renewable energy would still 105 00:06:31,240 --> 00:06:33,800 Speaker 2: be the dominant source of power by twenty fifty, responsible 106 00:06:33,839 --> 00:06:36,680 Speaker 2: for fifty four percent of generation. Nuclear power would be 107 00:06:36,720 --> 00:06:39,800 Speaker 2: about thirty eight percent rest batteries and gas. The government's 108 00:06:39,839 --> 00:06:43,520 Speaker 2: policy about ninety four percent by twenty fifty will be renewables. 109 00:06:43,720 --> 00:06:48,800 Speaker 2: That's big, big story for the next generation. The third 110 00:06:49,240 --> 00:06:52,600 Speaker 2: big policy debate this week, which is probably not quite 111 00:06:52,600 --> 00:06:57,320 Speaker 2: as controversial. Michael, stay with me, Stay with me. Yeah yeah, 112 00:06:57,360 --> 00:06:58,440 Speaker 2: well this one, this one is for you. 113 00:06:58,480 --> 00:07:01,919 Speaker 1: The albany I love politics. But oh gosh, this is 114 00:07:01,960 --> 00:07:02,680 Speaker 1: a long story. 115 00:07:03,000 --> 00:07:05,760 Speaker 2: The Albanezy governments planning to force social media companies to 116 00:07:05,760 --> 00:07:10,280 Speaker 2: pay for journalism on their sites. Under these laws, the 117 00:07:10,440 --> 00:07:13,040 Speaker 2: ATA would impose an annual charge on social media and 118 00:07:13,040 --> 00:07:15,920 Speaker 2: search companies worth more than the value of the payments 119 00:07:15,960 --> 00:07:19,720 Speaker 2: they would make to the news publishers. So basically, if 120 00:07:19,760 --> 00:07:22,040 Speaker 2: you don't pay the news publishers the content, the ATA 121 00:07:22,160 --> 00:07:24,000 Speaker 2: is going to hit you with a really big tax bill. 122 00:07:24,240 --> 00:07:25,560 Speaker 2: This ain't a step on the wrist. This is a 123 00:07:25,560 --> 00:07:29,440 Speaker 2: punch in the face, huge story. That one. So between 124 00:07:29,760 --> 00:07:36,000 Speaker 2: child's goodline, nuclear childcare, nuclear slash renewables, and the future 125 00:07:36,040 --> 00:07:38,800 Speaker 2: of journalism. Big big week over to you, Adam. 126 00:07:39,360 --> 00:07:46,400 Speaker 3: Okay, Sean, you had me at childcare, you had me 127 00:07:46,440 --> 00:07:51,080 Speaker 3: at early education. Well played and actually encomposite the three 128 00:07:51,080 --> 00:07:52,840 Speaker 3: stories by each of you. Seawan, you won that one 129 00:07:52,880 --> 00:07:53,600 Speaker 3: by daylight. 130 00:07:54,240 --> 00:07:54,760 Speaker 2: Well played. 131 00:07:54,800 --> 00:07:55,400 Speaker 3: Good opening. 132 00:07:59,320 --> 00:08:02,040 Speaker 2: Michael, ummy spit, Come on, I normally do the dummy 133 00:08:02,080 --> 00:08:02,800 Speaker 2: spit at this point. 134 00:08:03,200 --> 00:08:05,760 Speaker 1: No, no, no, no, it doesn't matter. 135 00:08:06,200 --> 00:08:06,800 Speaker 2: It doesn't matter. 136 00:08:06,840 --> 00:08:09,920 Speaker 1: The points are irrelevant. I mean I won that in spirit. 137 00:08:10,960 --> 00:08:13,560 Speaker 3: I think not in spirit, Michael, but you won in sequence. 138 00:08:13,720 --> 00:08:14,520 Speaker 2: You did go. 139 00:08:14,440 --> 00:08:17,560 Speaker 1: First, Yes, yeah, okay, sequence, you know it doesn't just 140 00:08:17,680 --> 00:08:21,679 Speaker 1: no one cares. Let's move on the most remarkable story. 141 00:08:21,720 --> 00:08:23,480 Speaker 1: I think you should go first on this one so 142 00:08:23,520 --> 00:08:25,680 Speaker 1: you can have the spiritual victory. 143 00:08:25,320 --> 00:08:28,560 Speaker 2: Of we are at the end of the year. I've 144 00:08:28,600 --> 00:08:31,400 Speaker 2: just gone for the story I loved this week, which 145 00:08:31,440 --> 00:08:35,200 Speaker 2: is totally remarkable. It's the big money flowing into sports teams. 146 00:08:35,200 --> 00:08:37,640 Speaker 2: This week we heard that private equity companies are buying 147 00:08:37,679 --> 00:08:40,880 Speaker 2: the US NFL teams for the first time. Basically, Leaner's 148 00:08:40,880 --> 00:08:44,040 Speaker 2: the NFL team's got together and said we're going to 149 00:08:44,080 --> 00:08:48,280 Speaker 2: allow rule changes which will allow private equity and groups 150 00:08:48,280 --> 00:08:50,680 Speaker 2: like that to buy in. Now. Some of these teams 151 00:08:50,720 --> 00:08:52,840 Speaker 2: in the US, the Chicago Bears have been owned by 152 00:08:52,840 --> 00:08:57,800 Speaker 2: the same family since nineteen twenty. It's phenomenal how tightly 153 00:08:57,840 --> 00:09:01,920 Speaker 2: it's been held. And NFL teams, i'm more expensive, generate 154 00:09:01,960 --> 00:09:06,199 Speaker 2: more revenue than EPL teams, LA Liga, any other sport 155 00:09:06,240 --> 00:09:10,360 Speaker 2: bigger than baseball, bigger than basketball. Basically, yeah, Areas Management's 156 00:09:10,400 --> 00:09:14,319 Speaker 2: bought ten percent of Miami Dolphins franchise it cost with 157 00:09:14,400 --> 00:09:16,520 Speaker 2: them about eight hundred million dollars. They'll also get a 158 00:09:16,520 --> 00:09:19,640 Speaker 2: stake in the Miami Stadium. Also the Formula one Miami 159 00:09:19,720 --> 00:09:23,000 Speaker 2: GP now Areas is already in a bunch of European 160 00:09:23,000 --> 00:09:25,280 Speaker 2: football teams. It owns a McLaren f on racing team. 161 00:09:25,520 --> 00:09:28,199 Speaker 2: Then we had Arctos, another pe group. It's quite a 162 00:09:28,240 --> 00:09:31,199 Speaker 2: minority stake in Buffalo Bills. It's already got its finger 163 00:09:31,240 --> 00:09:34,400 Speaker 2: in baseball teams. Well, it hasn't got its finger in 164 00:09:34,480 --> 00:09:38,600 Speaker 2: baseball teams. It's got an interest in baseball teams LA 165 00:09:38,640 --> 00:09:42,960 Speaker 2: dodger as San Francisco Giants. Also basketball's Utah Jazz. You 166 00:09:43,000 --> 00:09:49,679 Speaker 2: know PSG. NFL, right, has the most valuable sports team 167 00:09:50,280 --> 00:09:53,080 Speaker 2: in the world. And I want to guess what it is, Adam, 168 00:09:53,160 --> 00:09:53,959 Speaker 2: You guess what it is? 169 00:09:54,600 --> 00:09:55,200 Speaker 1: NFL? 170 00:09:55,679 --> 00:10:04,720 Speaker 2: Yeah, football Rams. Wow, that was dreadful. It was one 171 00:10:04,760 --> 00:10:10,200 Speaker 2: of the worst guesses ever. Think cheerleaders Dallas, Dallas, Dallas, 172 00:10:10,360 --> 00:10:14,440 Speaker 2: Cowboys boy leaders. Okay, yes, yes, yes, yes. The fastest 173 00:10:14,480 --> 00:10:16,599 Speaker 2: growing sport, Adam gets what the fastest growing sport in 174 00:10:16,720 --> 00:10:21,800 Speaker 2: terms of revenue is, Oh my god, basketball nah f 175 00:10:21,840 --> 00:10:26,000 Speaker 2: one And that's because it has gone from one race 176 00:10:26,040 --> 00:10:27,880 Speaker 2: to three races. To four races in the US, so 177 00:10:27,960 --> 00:10:32,400 Speaker 2: that Netflix documentary has introduced general motors getting in, general 178 00:10:32,440 --> 00:10:35,320 Speaker 2: motors getting in. The only I mean the US league 179 00:10:35,400 --> 00:10:38,120 Speaker 2: like NFL baseball basketball in the US are the big ones. 180 00:10:38,679 --> 00:10:41,520 Speaker 2: The only kind of leagues to give them a run 181 00:10:41,640 --> 00:10:45,960 Speaker 2: is the English Premier League, which is worthway less, La 182 00:10:46,000 --> 00:10:50,560 Speaker 2: Liga which is Spanish than F one and Buddes League. Anyway, 183 00:10:50,600 --> 00:10:54,280 Speaker 2: the biggest team the Dallas number one Yankees baseball number 184 00:10:54,280 --> 00:10:57,440 Speaker 2: two Rael Madrid is the biggest of the football club's 185 00:10:57,480 --> 00:11:00,679 Speaker 2: number eleven, Man United number thirteen. Anyway, all this investing 186 00:11:00,720 --> 00:11:06,640 Speaker 2: into it, it's just remarkable. Is this the category win? Remarkable? Yes? Remarkable? 187 00:11:06,960 --> 00:11:08,520 Speaker 2: How these? How these? 188 00:11:08,640 --> 00:11:13,360 Speaker 1: It is that the money going into sport. Michael, that's 189 00:11:13,360 --> 00:11:16,239 Speaker 1: a good story. It's an interesting story. Is it remarkable? 190 00:11:16,480 --> 00:11:20,000 Speaker 1: I will tell you what's remarkable, the most remarkable story, 191 00:11:20,120 --> 00:11:25,080 Speaker 1: And Adam, with one eye on your criteria, the one 192 00:11:25,080 --> 00:11:29,160 Speaker 1: that has the potential the most the story that has 193 00:11:29,240 --> 00:11:31,920 Speaker 1: I would I would say, the potential to have an 194 00:11:31,960 --> 00:11:35,480 Speaker 1: outsized impact. Right, not just on hold on, isn't that 195 00:11:35,520 --> 00:11:38,520 Speaker 1: sleep no no no, wait wait wait wait wait wait, 196 00:11:38,720 --> 00:11:43,600 Speaker 1: on the planet and arguably much of the whole universe right, 197 00:11:44,440 --> 00:11:49,959 Speaker 1: is the remarkable growth in the wealth, wealth and power 198 00:11:50,600 --> 00:11:53,600 Speaker 1: of Elon Musk. Oh damn bring, I'm going to bring 199 00:11:53,600 --> 00:11:56,800 Speaker 1: Elon Musk into this because this week has been. 200 00:11:56,800 --> 00:12:00,360 Speaker 2: You mentioned Donald Trump, your band, I've. 201 00:12:00,240 --> 00:12:04,960 Speaker 1: Got bad news for you short, So this week, this week, 202 00:12:05,000 --> 00:12:08,160 Speaker 1: and this is why this is this week's story. Right, 203 00:12:08,559 --> 00:12:13,079 Speaker 1: Tesla's share price surged in just one day. For instance, 204 00:12:13,160 --> 00:12:16,560 Speaker 1: in one day alone, it jumped six percent to be 205 00:12:16,640 --> 00:12:21,439 Speaker 1: valued at one point three trillion US dollars. It has 206 00:12:22,120 --> 00:12:26,680 Speaker 1: doubled in value since August, which is staggering. We're only 207 00:12:26,800 --> 00:12:32,079 Speaker 1: in December. Since August, that is amazing. Now, investors are 208 00:12:32,240 --> 00:12:35,920 Speaker 1: obviously excited about Elon Musk's relationship with. 209 00:12:36,960 --> 00:12:40,280 Speaker 2: The incoming president. There we go, Excellnald Trump. 210 00:12:40,120 --> 00:12:42,520 Speaker 1: There we go. So now I'm out. I know you're 211 00:12:42,520 --> 00:12:45,680 Speaker 1: going to kick me out. And obviously then the hopes 212 00:12:45,720 --> 00:12:48,640 Speaker 1: that Tesla will benefit from the new administration. Now, when 213 00:12:48,640 --> 00:12:54,239 Speaker 1: you combine that, right with the massive valuation of SpaceX, 214 00:12:54,400 --> 00:12:57,240 Speaker 1: which was also this week, got a lot happening this 215 00:12:57,320 --> 00:13:04,040 Speaker 1: week quite remarkable. Really, Elon Musk is now worth around 216 00:13:04,120 --> 00:13:11,640 Speaker 1: four hundred billion US dollars, first person ever to pass 217 00:13:11,880 --> 00:13:16,480 Speaker 1: that figure. That is staggering. That wealth has skyrocketed in 218 00:13:16,559 --> 00:13:20,959 Speaker 1: the last week alone SpaceX skyrocketed. Yeah, well done that 219 00:13:21,320 --> 00:13:25,800 Speaker 1: in itself, congratulating yourself. Well, someone asked, So know, none 220 00:13:25,800 --> 00:13:28,040 Speaker 1: of you guys ever give me props for it. That 221 00:13:28,720 --> 00:13:31,240 Speaker 1: wealth though, like it's a little bit like it is staggering. 222 00:13:31,360 --> 00:13:35,079 Speaker 1: It is a little bit kind of grotesque like it is. Yeah, 223 00:13:35,120 --> 00:13:38,199 Speaker 1: it really is, isn't it. But when you combine it, 224 00:13:38,480 --> 00:13:41,840 Speaker 1: right with his growing influence as well, Obviously money buys power, 225 00:13:41,920 --> 00:13:44,760 Speaker 1: but he's also got them the political power because he's 226 00:13:44,800 --> 00:13:46,839 Speaker 1: got the ear of the incoming president who I shall 227 00:13:46,880 --> 00:13:50,800 Speaker 1: not name for you Sean, his role as co head 228 00:13:50,920 --> 00:13:54,320 Speaker 1: of the Department of Government Efficiency or DOGE, and the 229 00:13:54,360 --> 00:13:57,920 Speaker 1: ownership of the this is also important, the ex social 230 00:13:57,960 --> 00:14:04,040 Speaker 1: media platform massive platform, and he controls the whole thing. 231 00:14:04,640 --> 00:14:08,319 Speaker 1: So what I would suspect now is that Elon Musk 232 00:14:08,720 --> 00:14:14,719 Speaker 1: is the single most influential person on the planet. Headlined 233 00:14:14,760 --> 00:14:25,560 Speaker 1: this week obviously by the enormously remarkablely staggering Yeah someone 234 00:14:25,640 --> 00:14:29,840 Speaker 1: staggering here, I'm staggering over the finish line increase in 235 00:14:29,960 --> 00:14:35,880 Speaker 1: his wealth. Phenomenal wealth, phenomenal influence. Remarkable story. 236 00:14:36,200 --> 00:14:39,320 Speaker 2: Can I just add to your remarkable story? We talked 237 00:14:39,320 --> 00:14:41,680 Speaker 2: about this during the week. So what's Tesla worth one 238 00:14:41,720 --> 00:14:44,920 Speaker 2: point three trillion? Next big is car company Toyata worth 239 00:14:45,000 --> 00:14:48,920 Speaker 2: two eighty billion? Ford in general matters close to the 240 00:14:48,960 --> 00:14:52,760 Speaker 2: fifty to sixty billion, just phenomenal. How big Tesla is? 241 00:14:53,120 --> 00:14:56,360 Speaker 3: Yeah, from the valuations of those companies are entirely different, 242 00:14:56,480 --> 00:15:00,520 Speaker 3: meaning their profit multiples for Tesla is way different to 243 00:15:00,560 --> 00:15:01,560 Speaker 3: any other car company. 244 00:15:01,760 --> 00:15:09,400 Speaker 2: God, you sound like a finance exec. So, oh geez, 245 00:15:09,440 --> 00:15:10,760 Speaker 2: they're good. Sean. 246 00:15:10,840 --> 00:15:17,400 Speaker 3: Your story on sports and values incredible. And also two 247 00:15:17,440 --> 00:15:19,360 Speaker 3: stories in Australia this week. 248 00:15:19,640 --> 00:15:20,520 Speaker 2: Does Zone. 249 00:15:22,680 --> 00:15:26,560 Speaker 3: Zone coming in and rumored or mooted to be buying 250 00:15:26,600 --> 00:15:31,440 Speaker 3: Foxtel for sports rights as a reflection of those valuations. 251 00:15:31,520 --> 00:15:36,200 Speaker 3: And also the NRL has announced a new team for 252 00:15:36,200 --> 00:15:39,000 Speaker 3: Papua New Guinea as part of what is anything from 253 00:15:39,080 --> 00:15:43,160 Speaker 3: soft diplomacy without nation to a greater expansion of the league. 254 00:15:42,960 --> 00:15:44,120 Speaker 2: Six hundred million dollars. 255 00:15:44,320 --> 00:15:48,000 Speaker 3: So incredible the value of sport as a business. What 256 00:15:48,280 --> 00:15:52,880 Speaker 3: a great story. I actually think it's a dead heat 257 00:15:52,920 --> 00:15:56,600 Speaker 3: on this. I was wondering how Sean couldn't win, and 258 00:15:56,640 --> 00:16:01,000 Speaker 3: then Michael's oh geez, they're all fantastic points. Tesla's share 259 00:16:01,040 --> 00:16:04,160 Speaker 3: price charging ahead, you said, I'm going to throw charging 260 00:16:04,200 --> 00:16:08,280 Speaker 3: in there. Good one as also the crypto believer, right, 261 00:16:08,440 --> 00:16:11,200 Speaker 3: because he's a massive crypto believer and his holding is 262 00:16:11,240 --> 00:16:15,760 Speaker 3: in cryptocurrency, including doge coin. But this could be our 263 00:16:15,840 --> 00:16:19,080 Speaker 3: first the world's first trillionaire, you know, at four hundred billion. 264 00:16:19,160 --> 00:16:22,240 Speaker 3: It's all of it remarkable, So dead heat. 265 00:16:22,480 --> 00:16:24,720 Speaker 1: All right, So it is one and a half to half. 266 00:16:24,800 --> 00:16:26,880 Speaker 1: Not quite the result I was hoping for at this point, 267 00:16:26,880 --> 00:16:29,120 Speaker 1: but there's still time. We'll take a quick break and 268 00:16:29,160 --> 00:16:38,840 Speaker 1: come back with the sleeper story of the week, all right, Shaw, 269 00:16:38,840 --> 00:16:40,240 Speaker 1: And we are looking for a sleeper story in our 270 00:16:40,240 --> 00:16:43,840 Speaker 1: sleeper stories, of course, one where it's flying under the 271 00:16:43,920 --> 00:16:48,320 Speaker 1: radar a bit or or significantly. The fuse has been 272 00:16:48,400 --> 00:16:51,960 Speaker 1: lit on it this week and it is going to 273 00:16:51,960 --> 00:16:56,040 Speaker 1: become a bigger story further down the track, which in 274 00:16:56,120 --> 00:17:02,040 Speaker 1: many cases is what I aim for. It feels like 275 00:17:02,080 --> 00:17:06,080 Speaker 1: I'm downplaying this already. Shall I go first? Sure, go 276 00:17:06,119 --> 00:17:08,000 Speaker 1: for a quick I'm just gonna do a quick one because, 277 00:17:08,040 --> 00:17:13,800 Speaker 1: as I said, brevity is key banking in Australia, Adam right, 278 00:17:13,880 --> 00:17:18,040 Speaker 1: this one down, eh could be in for a shakeup. 279 00:17:18,640 --> 00:17:21,320 Speaker 2: What would be what does a bank do when it 280 00:17:21,320 --> 00:17:21,840 Speaker 2: shakes up. 281 00:17:22,359 --> 00:17:24,520 Speaker 1: It just gets a little bit, a little bit jiggily, 282 00:17:25,000 --> 00:17:29,400 Speaker 1: the whole building shapes up, yep quakes, and this might 283 00:17:29,600 --> 00:17:31,640 Speaker 1: be I don't know what happened to me just then. 284 00:17:33,880 --> 00:17:35,280 Speaker 2: Do you know what I love is the way that 285 00:17:35,680 --> 00:17:40,639 Speaker 2: Michael presents a story. Often he goes I'll go first, 286 00:17:40,720 --> 00:17:42,680 Speaker 2: because I think he thinks I've got to get in early. 287 00:17:42,920 --> 00:17:46,480 Speaker 2: And then when the longer the build up to the facts, 288 00:17:48,200 --> 00:17:50,760 Speaker 2: generally he's going for metal drama points. 289 00:17:50,560 --> 00:17:52,600 Speaker 1: New new new, no, no, no, no melodrama here. This 290 00:17:52,640 --> 00:17:55,200 Speaker 1: is very straightforward, very straightforward story. This one year of 291 00:17:55,240 --> 00:18:00,840 Speaker 1: renewal for the banks. Right, three of the four big 292 00:18:00,880 --> 00:18:04,800 Speaker 1: banks have experienced change at the very top new CEOs. 293 00:18:05,000 --> 00:18:07,480 Speaker 1: That is quite staggering. And I suspect I'm the only 294 00:18:07,520 --> 00:18:11,640 Speaker 1: person to have noticed it as a sleeper story only 295 00:18:13,080 --> 00:18:16,840 Speaker 1: say that with it straight face. Only Commonwealth Bank remains 296 00:18:16,880 --> 00:18:23,760 Speaker 1: with Matt common Zed's Now, I'm kind of like, I've 297 00:18:23,760 --> 00:18:25,399 Speaker 1: got a few notes scribbled down in front of me, 298 00:18:25,680 --> 00:18:27,480 Speaker 1: but I can't stop looking at the two of you, 299 00:18:27,800 --> 00:18:30,639 Speaker 1: because Shawn's is like, I can't wait to see you 300 00:18:30,680 --> 00:18:31,400 Speaker 1: stuff this up. 301 00:18:33,080 --> 00:18:34,000 Speaker 2: I'm intrigued. 302 00:18:34,240 --> 00:18:36,880 Speaker 3: This is my intrigued face to see how this will 303 00:18:36,920 --> 00:18:38,160 Speaker 3: be a sleepers story. 304 00:18:38,480 --> 00:18:40,000 Speaker 1: I told you it's because I'm the only one who 305 00:18:40,080 --> 00:18:43,840 Speaker 1: noticed it. No, it's it's that it no no, no, no, no, no, no, no, 306 00:18:44,040 --> 00:18:44,280 Speaker 1: it's not. 307 00:18:44,320 --> 00:18:45,359 Speaker 2: It's not. It's not. It's not. It's not. 308 00:18:45,600 --> 00:18:48,719 Speaker 1: A and zed's CEO, Shane Elliott, is the latest to go. 309 00:18:48,760 --> 00:18:50,680 Speaker 1: And we were talking a lot about this this week. 310 00:18:52,200 --> 00:18:54,560 Speaker 4: Not a huge one, no, not much, because it's sleeper story. 311 00:18:54,560 --> 00:18:57,679 Speaker 4: We whispered about it. He's retiring after a pretty successful 312 00:18:57,960 --> 00:19:01,919 Speaker 4: nine years. The thing is right, The thing is his 313 00:19:02,040 --> 00:19:05,439 Speaker 4: replacement is a little bit of a wild card. Really, 314 00:19:05,480 --> 00:19:07,320 Speaker 4: we don't know much about him. Is not a local. 315 00:19:08,359 --> 00:19:14,640 Speaker 1: He's a Portuguese banker. Yeah, yeah, he joins us from HSBC. 316 00:19:15,240 --> 00:19:19,439 Speaker 1: He was kind of focusing on Europe and Mexico a 317 00:19:19,440 --> 00:19:23,160 Speaker 1: lot of people, but Australia's very different. He's an expert 318 00:19:23,440 --> 00:19:27,760 Speaker 1: in business transitions. A and ZED has two big ones underway. 319 00:19:29,160 --> 00:19:34,919 Speaker 1: He's an expert in digital transformation. H That to me 320 00:19:35,080 --> 00:19:40,840 Speaker 1: sounds like transformation. Things might be going to change. Let 321 00:19:40,840 --> 00:19:44,240 Speaker 1: me complete the image of a year of renewal for 322 00:19:44,320 --> 00:19:46,800 Speaker 1: our big banks in just the last week or two, 323 00:19:47,680 --> 00:19:51,760 Speaker 1: two of the big four. So that's fifty percent, right, 324 00:19:54,080 --> 00:19:58,640 Speaker 1: of Australia's big four banks have announced new chief economists 325 00:19:58,880 --> 00:20:03,520 Speaker 1: as well Commonwealth Bank. That is a lot of change 326 00:20:03,840 --> 00:20:08,359 Speaker 1: this year at our banks. Three new CEOs, two new 327 00:20:08,440 --> 00:20:12,240 Speaker 1: chief economists. One of the CEOs coming in from overseas, 328 00:20:12,400 --> 00:20:18,480 Speaker 1: got a background in shaking things up our banks. Usually, 329 00:20:18,480 --> 00:20:22,000 Speaker 1: I would say, quite sleepy organizations, very big, very stable, 330 00:20:22,200 --> 00:20:25,240 Speaker 1: lot of change on the way. 331 00:20:25,520 --> 00:20:29,760 Speaker 2: Excellent, big sleeper story, Yeah, big sleeper story. My my 332 00:20:29,960 --> 00:20:33,960 Speaker 2: sleeper story. My sleeper story is actually a serious one. 333 00:20:34,560 --> 00:20:40,000 Speaker 1: So what the actual heck, just a quick whack. 334 00:20:39,960 --> 00:20:43,040 Speaker 2: No, no, no, no, well no, Actually I wasn't trying to 335 00:20:43,080 --> 00:20:45,960 Speaker 2: be disparaging of you in that, Michael, because this is 336 00:20:46,040 --> 00:20:49,040 Speaker 2: kind of like a social justice story and I think 337 00:20:49,040 --> 00:20:53,600 Speaker 2: it does matter. So this kind of anti wokism has 338 00:20:53,640 --> 00:20:57,159 Speaker 2: been running around, you know, for quite a while, but 339 00:20:57,200 --> 00:20:59,320 Speaker 2: there've been a couple of incidents over the past week 340 00:20:59,359 --> 00:21:04,760 Speaker 2: from very different spheres that just demonstrate its impact. And 341 00:21:04,920 --> 00:21:08,560 Speaker 2: if we want to know where we end up if 342 00:21:08,560 --> 00:21:13,760 Speaker 2: we allow Antiochism to take control, I think these are 343 00:21:13,760 --> 00:21:17,399 Speaker 2: the examples of where we do end up. In the US, 344 00:21:17,400 --> 00:21:19,760 Speaker 2: an anti woke investment fund has been established by a 345 00:21:19,760 --> 00:21:24,320 Speaker 2: company called the Zuria Partners. It plans to not invest 346 00:21:24,400 --> 00:21:26,960 Speaker 2: in s and P five hundred companies that incorporate things 347 00:21:27,040 --> 00:21:31,119 Speaker 2: like diversity, equity and inclusion considerations into their hiring processes 348 00:21:31,400 --> 00:21:36,800 Speaker 2: targeted Starbucks first up. It was launched at the incoming 349 00:21:36,800 --> 00:21:41,480 Speaker 2: president's marri Lago resort, the home of anti wokeness. That's 350 00:21:41,520 --> 00:21:44,840 Speaker 2: the first one back in Australia. Opposition lader Peter Dutton 351 00:21:44,880 --> 00:21:47,000 Speaker 2: said if elected, he won't stand in front of the 352 00:21:47,000 --> 00:21:50,480 Speaker 2: Australian and the Indigenous flags when giving a briefing Prime 353 00:21:50,480 --> 00:21:52,880 Speaker 2: Minister Anthony albernez he does that at the moment. Mister 354 00:21:52,960 --> 00:21:56,359 Speaker 2: Dutton's argument is that there should be one unifying flag 355 00:21:56,480 --> 00:21:58,840 Speaker 2: for all Australians. He doubled down later in the week 356 00:21:58,880 --> 00:22:02,240 Speaker 2: it suggests Indigenous flags shouldn't fly above the harbor Bridge. 357 00:22:02,760 --> 00:22:06,240 Speaker 2: Investors and politicians feel emboldened by the rise of the 358 00:22:06,240 --> 00:22:10,520 Speaker 2: incoming president to start eating away at many of the 359 00:22:10,560 --> 00:22:14,679 Speaker 2: hard one gains by minority groups, vilified groups, disadvantage groups. 360 00:22:14,840 --> 00:22:20,439 Speaker 2: Workism isn't about favoring those groups, it's actually ensuring they 361 00:22:20,480 --> 00:22:25,000 Speaker 2: at least have a say. Now, anti wokeism does the 362 00:22:25,119 --> 00:22:29,879 Speaker 2: exact opposite the flag. Whether you like the flag or not, 363 00:22:29,960 --> 00:22:32,280 Speaker 2: it has a Union jack on it. To actually suggest 364 00:22:32,320 --> 00:22:36,560 Speaker 2: that unifies the country is just plainly ridiculous, Like it 365 00:22:36,640 --> 00:22:39,920 Speaker 2: actually makes me angry. I'm not being pro or anti flag. 366 00:22:39,960 --> 00:22:42,959 Speaker 2: I'm just saying the facts speak for themselves. It doesn't unify. 367 00:22:43,440 --> 00:22:45,560 Speaker 2: So they don't actually use that as an example, mister 368 00:22:45,640 --> 00:22:51,280 Speaker 2: Dunton about unifying the country. I just worries me that 369 00:22:51,320 --> 00:22:53,000 Speaker 2: there are a lot of disadvantage groups out there who 370 00:22:53,040 --> 00:22:54,280 Speaker 2: are going to have a really tough time in the 371 00:22:54,320 --> 00:22:59,320 Speaker 2: next three or four or five years because of the uh, 372 00:23:00,320 --> 00:23:07,199 Speaker 2: practical aspects of anti wokeism. The youg a my serious story, Adam. 373 00:23:06,280 --> 00:23:10,440 Speaker 3: Very serious, very relevant. There is kind of this war 374 00:23:10,480 --> 00:23:13,320 Speaker 3: on work. I've actually always struggled with the term woke. 375 00:23:13,560 --> 00:23:15,320 Speaker 3: I mean, I get it. The origins are that it 376 00:23:15,359 --> 00:23:19,320 Speaker 3: means awakened, but awakened to what you know, and whether 377 00:23:19,320 --> 00:23:24,760 Speaker 3: you're four or against this awakening, and how Dutton is 378 00:23:24,800 --> 00:23:26,879 Speaker 3: embraced that with the flag story, It's like, God, this 379 00:23:27,000 --> 00:23:30,040 Speaker 3: is just such a it's a non economic story. It's 380 00:23:30,040 --> 00:23:33,760 Speaker 3: not going to help our country grow. It's not about productivity. 381 00:23:33,880 --> 00:23:38,760 Speaker 2: It's kind of this distraction. It's probably anti productivity. Well totally. 382 00:23:39,160 --> 00:23:43,240 Speaker 3: The banking changes, Yes, the banks make up so much. 383 00:23:43,240 --> 00:23:45,320 Speaker 3: What does it show in the top seven of our 384 00:23:45,880 --> 00:23:47,679 Speaker 3: in the top seven of our A SX two hundred 385 00:23:47,760 --> 00:23:52,720 Speaker 3: or top yeah, and so huge economic impact. Massive organization 386 00:23:52,800 --> 00:23:58,480 Speaker 3: is very important and changing to Nuno Matos, He's got 387 00:23:58,520 --> 00:24:01,719 Speaker 3: both wholesale and retail experience, like a real wildcut. And 388 00:24:01,760 --> 00:24:04,639 Speaker 3: what's going to happen with the executive ranks is a 389 00:24:04,760 --> 00:24:06,960 Speaker 3: shuffle at A and Z like the people who went 390 00:24:07,000 --> 00:24:08,680 Speaker 3: for the job internally that are not going to get 391 00:24:08,680 --> 00:24:11,560 Speaker 3: at And how he makes that cohesive. I think that 392 00:24:11,680 --> 00:24:16,320 Speaker 3: is a bit like it's big on change pro reform. 393 00:24:16,560 --> 00:24:19,320 Speaker 3: But I actually think Sean has to win this one. 394 00:24:19,920 --> 00:24:22,520 Speaker 3: It is, after all, one bank of four in the 395 00:24:22,560 --> 00:24:26,480 Speaker 3: country versus this whole theme, and I think this sleeper 396 00:24:26,600 --> 00:24:29,640 Speaker 3: theme is pervasive everywhere. So Sean, I have to give 397 00:24:29,640 --> 00:24:30,200 Speaker 3: this to you. 398 00:24:30,200 --> 00:24:32,560 Speaker 2: You know, Michael, I'm not even getting glad about that 399 00:24:32,600 --> 00:24:35,879 Speaker 2: because that was so clear cut. It's we can just 400 00:24:35,920 --> 00:24:37,240 Speaker 2: move into our favorite story. 401 00:24:37,560 --> 00:24:40,239 Speaker 1: Don't give up, Michael, Oh No, I never give I 402 00:24:40,280 --> 00:24:47,240 Speaker 1: never give up. And it just makes me. Ah tells 403 00:24:47,240 --> 00:24:48,840 Speaker 1: me with rage, go on, let's go. 404 00:24:48,960 --> 00:24:51,479 Speaker 2: Adam, Yeah, what's the word do you not? Well? I'm 405 00:24:51,520 --> 00:24:53,600 Speaker 2: not actually going to ask you for the definitions. But 406 00:24:53,840 --> 00:24:57,480 Speaker 2: do you know what the demure means? Yes? Do you 407 00:24:57,520 --> 00:25:01,400 Speaker 2: know what selfish sulfage? It's l F E g E. 408 00:25:01,920 --> 00:25:03,399 Speaker 2: I did not, I did not. 409 00:25:03,560 --> 00:25:09,359 Speaker 3: Vox Uh, well only is vox populi? But no, no, 410 00:25:09,440 --> 00:25:10,800 Speaker 3: not really neither one. 411 00:25:10,840 --> 00:25:17,360 Speaker 2: Monicello no sobriquet. Yes, I knew that one. AKA all. 412 00:25:17,480 --> 00:25:20,679 Speaker 2: They're the five most searched words on Google in Australia 413 00:25:20,720 --> 00:25:23,400 Speaker 2: this year. Like you, I knew two of the five. 414 00:25:23,680 --> 00:25:25,679 Speaker 2: There's a whole world out there of social media right 415 00:25:25,680 --> 00:25:27,960 Speaker 2: where I have a little exposure too. So we're having, 416 00:25:28,280 --> 00:25:32,200 Speaker 2: you know, words like demure as what it does shows 417 00:25:32,200 --> 00:25:34,639 Speaker 2: that people don't know what demil means, because that's the 418 00:25:34,680 --> 00:25:39,120 Speaker 2: top searched meaning of demure this year. Does a how 419 00:25:39,160 --> 00:25:43,560 Speaker 2: to right or Olympics Tyson B. Paul the fight here 420 00:25:43,640 --> 00:25:52,040 Speaker 2: as I get that how to mew I mean w 421 00:25:52,320 --> 00:25:57,640 Speaker 2: T whatever? Like how to mew I mean? Goodness? Gracious? 422 00:25:57,720 --> 00:25:58,840 Speaker 2: What is going on in the world? 423 00:26:01,200 --> 00:26:03,440 Speaker 3: How do we've got curious minds? 424 00:26:03,480 --> 00:26:05,359 Speaker 2: Michael? Do you know what? How do you know what 425 00:26:05,760 --> 00:26:08,160 Speaker 2: demu is? Well? 426 00:26:08,280 --> 00:26:12,960 Speaker 1: Yeah, I look, I read about this in the Fear 427 00:26:13,000 --> 00:26:16,639 Speaker 1: and Read newsletter. One of the searchers Michael and I 428 00:26:16,760 --> 00:26:20,399 Speaker 1: might have been a searcher after that. 429 00:26:20,480 --> 00:26:26,520 Speaker 2: Yeah, but not before. It's like this, I don't know 430 00:26:26,720 --> 00:26:30,080 Speaker 2: whole world out there. You know. What I think, which 431 00:26:30,160 --> 00:26:33,440 Speaker 2: is a good thing is in the old days, pre 432 00:26:33,800 --> 00:26:38,240 Speaker 2: social media, the proprietors of newspapers and radio stations, and 433 00:26:38,520 --> 00:26:42,359 Speaker 2: they determined what people got to hear and do and see. 434 00:26:42,720 --> 00:26:47,000 Speaker 2: Now individuals determined because they can access social media, and 435 00:26:47,240 --> 00:26:49,480 Speaker 2: so it's kind of a big broader world. So I 436 00:26:49,520 --> 00:26:52,800 Speaker 2: think a good thing. But I was just fascinated this week. 437 00:26:52,840 --> 00:26:55,440 Speaker 2: My favorite story was the Google you know, top how 438 00:26:55,480 --> 00:26:58,960 Speaker 2: to top definitions, all that stuff, because I was just 439 00:26:59,000 --> 00:27:03,760 Speaker 2: staggered about how far outside the zeitgeist I am. I 440 00:27:04,520 --> 00:27:09,960 Speaker 2: just didn't know any of it. Michael, that's a good story. 441 00:27:10,160 --> 00:27:12,320 Speaker 1: That's a good story. I don't mean to finish on 442 00:27:12,359 --> 00:27:14,760 Speaker 1: a downer, right for my favorite story, it's like a 443 00:27:14,760 --> 00:27:19,960 Speaker 1: reverse favorite because we all know that AI is coming 444 00:27:19,960 --> 00:27:23,320 Speaker 1: for our jobs. Yeah, and we know that the tech 445 00:27:23,359 --> 00:27:27,520 Speaker 1: giants are eating into everything, and without kind of making 446 00:27:27,520 --> 00:27:30,320 Speaker 1: this sound bigger than it is, nothing and nobody is 447 00:27:30,400 --> 00:27:35,040 Speaker 1: safe ever. But in the back of our minds, right, 448 00:27:35,800 --> 00:27:40,120 Speaker 1: we've always known one thing that if all else fails, 449 00:27:40,600 --> 00:27:44,280 Speaker 1: if every other job has been taken by AI and 450 00:27:44,320 --> 00:27:49,159 Speaker 1: by the digital revolution. You can always make some money 451 00:27:49,359 --> 00:27:51,440 Speaker 1: giving your opinion in a focus group. 452 00:27:52,400 --> 00:27:57,040 Speaker 2: That's I think that's medical research. I'm sure I can 453 00:27:57,080 --> 00:27:57,280 Speaker 2: do that. 454 00:27:57,680 --> 00:28:00,679 Speaker 1: It's the universal backup. Everyone's always has got that in 455 00:28:00,720 --> 00:28:04,560 Speaker 1: the back of a university student thing. I think I 456 00:28:04,640 --> 00:28:08,320 Speaker 1: know where you're going on this, because your opinions matter, right, 457 00:28:08,680 --> 00:28:15,840 Speaker 1: and and and opinions, subjectively held opinions are a deeply 458 00:28:16,200 --> 00:28:21,840 Speaker 1: human thing until they are not anymore. And that is 459 00:28:21,880 --> 00:28:26,760 Speaker 1: what we saw this week. We saw one of the 460 00:28:26,800 --> 00:28:32,120 Speaker 1: most extraordinary uses of technology that I would argue goes 461 00:28:32,160 --> 00:28:35,840 Speaker 1: beyond what we thought it was previously capable of and 462 00:28:35,920 --> 00:28:43,840 Speaker 1: would ever ever be capable of. I'm going to get 463 00:28:43,840 --> 00:28:50,040 Speaker 1: this when Colgate Palmolov, obviously a huge company, has done 464 00:28:50,200 --> 00:28:55,280 Speaker 1: something unprecedented. They have built digital twins right that are 465 00:28:55,320 --> 00:29:00,800 Speaker 1: programmed to simulate real life consumers. They are making us 466 00:29:00,960 --> 00:29:03,640 Speaker 1: all redundant. They are trying to speed up. There's a 467 00:29:03,640 --> 00:29:05,640 Speaker 1: business reason for this. They're trying to speed up the 468 00:29:05,640 --> 00:29:08,920 Speaker 1: process of developing new products bringing them to market because 469 00:29:08,960 --> 00:29:11,080 Speaker 1: all of these companies are under pressure, the cost of 470 00:29:11,080 --> 00:29:13,800 Speaker 1: living crisis, all of those things. But this is the 471 00:29:13,840 --> 00:29:19,800 Speaker 1: key here. These are fake consumers. These are digital people, 472 00:29:20,480 --> 00:29:24,720 Speaker 1: and these digital twins feelings. Yes, and this is the 473 00:29:24,800 --> 00:29:29,920 Speaker 1: thing that they are providing subjective feedback on new products, 474 00:29:29,920 --> 00:29:33,160 Speaker 1: on things like, as you said, sean toothpaste and soap 475 00:29:33,440 --> 00:29:36,800 Speaker 1: and shampoo, things that they've never actually used yet they 476 00:29:36,840 --> 00:29:42,720 Speaker 1: are giving this feedback until now, Until now, I thought 477 00:29:42,800 --> 00:29:50,000 Speaker 1: that was a uniquely human role. Apparently not, because computers, 478 00:29:50,120 --> 00:29:53,880 Speaker 1: it seems, can do that too. So without being too 479 00:29:54,000 --> 00:29:58,080 Speaker 1: without being too melodramatic. No, May God have mercy on 480 00:29:58,120 --> 00:30:05,600 Speaker 1: our souls. This is the end of all. 481 00:30:05,680 --> 00:30:08,920 Speaker 2: Not too much melodrama. They're well done. Can I just 482 00:30:09,000 --> 00:30:14,840 Speaker 2: Adam before you make a judgment on this. Michael was 483 00:30:14,880 --> 00:30:17,520 Speaker 2: saying AI is coming to get our jobs, right, so 484 00:30:17,640 --> 00:30:20,600 Speaker 2: chat GPT could be getting our jobs that sort of thing. 485 00:30:20,840 --> 00:30:23,840 Speaker 2: Can I ask both of you two, Adam and Michael, 486 00:30:24,120 --> 00:30:31,440 Speaker 2: have either of you ever accessed AI with the weekend show? Michael, 487 00:30:31,440 --> 00:30:34,760 Speaker 2: what about you? I have not, Adam, Oh, I have. 488 00:30:36,120 --> 00:30:39,120 Speaker 3: Absolutely I have when I've had to stand in for 489 00:30:39,280 --> 00:30:43,880 Speaker 3: either one of you. Oh my god, yes, because it's 490 00:30:44,000 --> 00:30:49,000 Speaker 3: like I so struggle to step into what you both 491 00:30:49,080 --> 00:30:50,200 Speaker 3: do each week. 492 00:30:50,320 --> 00:30:52,520 Speaker 2: Now, don't be nice to us about it. A couple 493 00:30:52,560 --> 00:30:54,800 Speaker 2: of weeks ago when Michael had come back from holidays 494 00:30:55,120 --> 00:30:57,440 Speaker 2: and he was judging and you and I were up 495 00:30:57,480 --> 00:31:00,400 Speaker 2: against each other. The show is fine. The next Michael 496 00:31:00,400 --> 00:31:02,560 Speaker 2: and I was talking and Michael said, you know that 497 00:31:02,680 --> 00:31:06,360 Speaker 2: Adam obviously used chat GPT because if if you use 498 00:31:06,440 --> 00:31:09,520 Speaker 2: chat GPT as well, Michael and I, I mean I 499 00:31:09,560 --> 00:31:13,040 Speaker 2: do for in another business. There are phrases they're actually 500 00:31:13,120 --> 00:31:17,480 Speaker 2: like dashes hyphens, like they're in a different setting and format, 501 00:31:17,560 --> 00:31:20,240 Speaker 2: and so if you look at your notes you can 502 00:31:20,480 --> 00:31:24,480 Speaker 2: see that. And we've been laughing about you using chet 503 00:31:24,560 --> 00:31:27,920 Speaker 2: GPT for that show ever since, waiting for the moment 504 00:31:28,280 --> 00:31:29,000 Speaker 2: to bring it up. 505 00:31:29,960 --> 00:31:32,080 Speaker 1: Oh wow, that's so interesting. 506 00:31:32,760 --> 00:31:36,200 Speaker 3: So I've written mine first, checked it, and sometimes rewritten it. 507 00:31:36,280 --> 00:31:40,480 Speaker 3: Not always, but yeah, I definitely have you used chat GPT. 508 00:31:40,640 --> 00:31:43,520 Speaker 3: But isn't that curious. There's a formatting like a tell 509 00:31:44,480 --> 00:31:45,280 Speaker 3: if you've used. 510 00:31:45,120 --> 00:31:47,160 Speaker 2: It at the moment, it'll get better. And if you 511 00:31:47,200 --> 00:31:49,640 Speaker 2: talk to chat GPT and like literally have a conversation 512 00:31:49,720 --> 00:31:51,920 Speaker 2: with it saying hey this sounds a bit formal, or 513 00:31:51,960 --> 00:31:55,880 Speaker 2: hey why don't you it gets better and better? But 514 00:31:56,160 --> 00:32:00,040 Speaker 2: so good, it's yeah, it's not there yet anyway, So 515 00:32:00,160 --> 00:32:02,240 Speaker 2: good judging. Sorry, back to the. 516 00:32:02,280 --> 00:32:06,840 Speaker 3: Back to the stories. I think it is brilliant and 517 00:32:07,160 --> 00:32:08,760 Speaker 3: a bit of a favorite spot of mind that we 518 00:32:08,800 --> 00:32:11,520 Speaker 3: can actually use Google as we do or any search 519 00:32:11,520 --> 00:32:14,320 Speaker 3: engine and get help on things immediately, like on your 520 00:32:14,320 --> 00:32:17,479 Speaker 3: phone wherever you are, and also then that we can 521 00:32:17,520 --> 00:32:20,480 Speaker 3: capture the data on what everybody is looking at. I 522 00:32:20,560 --> 00:32:26,400 Speaker 3: think that's really fascinating in terms of Michael's slight use 523 00:32:26,400 --> 00:32:33,080 Speaker 3: of melodrama. But the Digital Twins by Colgate Palmolive was 524 00:32:33,600 --> 00:32:38,400 Speaker 3: a really interesting story. So I've actually given this to 525 00:32:38,480 --> 00:32:39,520 Speaker 3: Michael on. 526 00:32:39,400 --> 00:32:43,400 Speaker 2: This one, I hape be one on melodrama. Well, yeah, 527 00:32:43,560 --> 00:32:45,560 Speaker 2: it helped, certainly helped. 528 00:32:46,040 --> 00:32:48,840 Speaker 1: I put a little bit into it. Content is there 529 00:32:49,120 --> 00:32:51,320 Speaker 1: was there a significant margin between us for that one, 530 00:32:51,360 --> 00:32:53,200 Speaker 1: because I need it to be a really big not 531 00:32:53,400 --> 00:32:57,280 Speaker 1: really no, Well, I would like to officially lodge a 532 00:32:57,280 --> 00:33:00,680 Speaker 1: protest on the grounds of that being bs. What was 533 00:33:00,720 --> 00:33:02,800 Speaker 1: the so what were we in the end? Two and 534 00:33:02,840 --> 00:33:05,239 Speaker 1: a half to one and a half? Yes, okay, and 535 00:33:05,280 --> 00:33:07,719 Speaker 1: what was the quick little points? 536 00:33:07,840 --> 00:33:14,280 Speaker 3: Eighty eight Michael to ninety four for Sean landslide? 537 00:33:16,480 --> 00:33:19,760 Speaker 1: All right, good judging. Thank you very much, Adam, thank you, 538 00:33:20,040 --> 00:33:20,880 Speaker 1: and thank you Sean. 539 00:33:21,040 --> 00:33:21,680 Speaker 2: Thanks Michael. 540 00:33:22,080 --> 00:33:24,719 Speaker 1: Make sure you're following the podcast and please join us 541 00:33:24,800 --> 00:33:28,280 Speaker 1: online on LinkedIn, Instagram, TikTok, Facebook and Xi. Michael Thompson. 542 00:33:28,360 --> 00:33:30,240 Speaker 1: That was fear and greed. Have a great weekend.