1 00:00:06,240 --> 00:00:08,720 Speaker 1: This is the weekend edition of Fear and Greed, daily 2 00:00:08,760 --> 00:00:11,160 Speaker 1: business news for people who make their own decisions. I'm 3 00:00:11,160 --> 00:00:13,840 Speaker 1: Michael Thompson, and good morning. Sean Ayleman. 4 00:00:13,920 --> 00:00:14,840 Speaker 2: Good morning, Michael. 5 00:00:15,120 --> 00:00:17,640 Speaker 1: Now sew on our weekend show. For anyone who hasn't 6 00:00:17,680 --> 00:00:19,800 Speaker 1: heard it before, it is very different to the weekdays show. 7 00:00:19,800 --> 00:00:22,440 Speaker 1: It's all about the two of us, each nominating what 8 00:00:22,480 --> 00:00:25,360 Speaker 1: we think is the biggest business news story of the week, 9 00:00:25,800 --> 00:00:29,479 Speaker 1: the most remarkable business news story, a mystery category that 10 00:00:29,640 --> 00:00:31,680 Speaker 1: changes every week, and we've got a really good one 11 00:00:31,720 --> 00:00:33,760 Speaker 1: today and then our favorite. 12 00:00:34,240 --> 00:00:38,400 Speaker 2: Gosh, it's just giving it away. Really. Michael likes the category. 13 00:00:38,400 --> 00:00:40,680 Speaker 2: I wonder what it is. Go on we. 14 00:00:40,680 --> 00:00:43,400 Speaker 1: Shall I'm not going to ruin the suspense, but you 15 00:00:43,479 --> 00:00:45,760 Speaker 1: do know any regular listeners will know that I have 16 00:00:45,800 --> 00:00:48,760 Speaker 1: a very limited kind of field of interest and it 17 00:00:48,840 --> 00:00:50,280 Speaker 1: might well fall into that space. 18 00:00:50,720 --> 00:00:53,280 Speaker 2: Oh maybe did I say space? 19 00:00:53,680 --> 00:00:58,760 Speaker 1: Anyway, it is a competition, of course, and we need 20 00:00:58,800 --> 00:01:01,800 Speaker 1: a judge. Every week we have judge to pick a winner. 21 00:01:02,120 --> 00:01:04,520 Speaker 1: That judge is, of course, our Fear and Greed colleague, 22 00:01:04,640 --> 00:01:06,640 Speaker 1: Adam Lang Adam, good morning. 23 00:01:06,440 --> 00:01:08,880 Speaker 3: Hello Michael, Hello Sean, Hello Adam. 24 00:01:09,240 --> 00:01:12,160 Speaker 1: Can I start and I want to keep this very 25 00:01:12,680 --> 00:01:15,440 Speaker 1: brief today, but I want to start with a question 26 00:01:15,680 --> 00:01:18,640 Speaker 1: that came in from a listener and it came in 27 00:01:19,000 --> 00:01:22,080 Speaker 1: via LinkedIn, and it was kind of posed as an 28 00:01:22,200 --> 00:01:24,800 Speaker 1: Ask Fear and Greed question, which was the which is 29 00:01:24,800 --> 00:01:26,679 Speaker 1: the bonus episode that we do a couple of times 30 00:01:26,720 --> 00:01:32,120 Speaker 1: a week. Sean and Wesley wrote to us and said, Hi, 31 00:01:32,240 --> 00:01:34,960 Speaker 1: Sean and Michael, a question for Ask Fear and Greed. 32 00:01:36,000 --> 00:01:38,800 Speaker 1: Is the weekend edition of Fear and Greed based on 33 00:01:38,840 --> 00:01:43,880 Speaker 1: the Harlem Globe Trotters and Washington General's basketball tour. Does 34 00:01:43,959 --> 00:01:46,160 Speaker 1: Michael ever get a chance to be the Globe Trotters 35 00:01:46,400 --> 00:01:49,840 Speaker 1: or is he destined to lose each week? And then 36 00:01:49,840 --> 00:01:52,120 Speaker 1: he added a ps, there are people hoping you go 37 00:01:52,200 --> 00:01:57,200 Speaker 1: on a streak, Michael, So Wesley, thank you for this, 38 00:01:57,360 --> 00:02:02,960 Speaker 1: and because the Globe was like a winning streak of 39 00:02:02,960 --> 00:02:07,640 Speaker 1: what twenty thousand games or something against the Washington Miracle. Yeah, yeah, 40 00:02:07,640 --> 00:02:11,120 Speaker 1: the only one. I think the General's only one six times. 41 00:02:11,360 --> 00:02:13,920 Speaker 2: Which is right, yeah, one six times, yeah, which is 42 00:02:13,919 --> 00:02:15,239 Speaker 2: actually better than you, which. 43 00:02:16,760 --> 00:02:18,359 Speaker 1: It seems unnecessarily harsh. 44 00:02:18,400 --> 00:02:20,840 Speaker 2: Now, hold on, you're on a streak, now, didn't you win. 45 00:02:21,000 --> 00:02:21,919 Speaker 1: One twice in a row? 46 00:02:22,360 --> 00:02:23,840 Speaker 3: Once twice? 47 00:02:24,600 --> 00:02:27,280 Speaker 2: He's on a streak of one and so yeah, I. 48 00:02:27,280 --> 00:02:29,519 Speaker 1: Have one twice before and that was a very very 49 00:02:29,520 --> 00:02:31,040 Speaker 1: exciting day two days for me. 50 00:02:31,120 --> 00:02:33,440 Speaker 2: Look at the bottom line for this, Wesley Michael is 51 00:02:33,480 --> 00:02:34,760 Speaker 2: not a Harlem Globe trotter. 52 00:02:35,040 --> 00:02:38,160 Speaker 3: No, he's not destined to lose. But the funny thing 53 00:02:38,240 --> 00:02:42,800 Speaker 3: is just on form on the data probably does like 54 00:02:42,880 --> 00:02:49,200 Speaker 3: the Harlem Globe trotters. I bring the showmanship to this technically, really, 55 00:02:49,320 --> 00:02:51,919 Speaker 3: Sean here, Sean, Sean is. 56 00:02:51,880 --> 00:02:55,400 Speaker 1: The Washington generals. Here, he's just like just steady plodding along, 57 00:02:55,600 --> 00:02:58,680 Speaker 1: and here I am doing all of the fancy stuff. 58 00:02:58,840 --> 00:02:59,880 Speaker 1: Yet I'm still losing. 59 00:03:00,120 --> 00:03:02,880 Speaker 3: Okay, So just on form. Have you been a Reserve 60 00:03:02,960 --> 00:03:04,639 Speaker 3: Bank economist? 61 00:03:06,000 --> 00:03:06,160 Speaker 2: No? 62 00:03:06,639 --> 00:03:10,960 Speaker 3: Have you been a journalist writing articles on business and 63 00:03:11,000 --> 00:03:12,320 Speaker 3: the economy for decades? 64 00:03:12,360 --> 00:03:13,960 Speaker 1: I don't see why this is relevant, Adam. 65 00:03:14,040 --> 00:03:16,880 Speaker 3: Have you been the editorial director of like hundreds over 66 00:03:16,919 --> 00:03:18,440 Speaker 3: a thousand journalists before? 67 00:03:18,600 --> 00:03:18,840 Speaker 2: Yes? 68 00:03:19,160 --> 00:03:20,360 Speaker 1: Oh no, that was a lie. 69 00:03:21,960 --> 00:03:22,600 Speaker 2: That was Sean. 70 00:03:22,639 --> 00:03:26,720 Speaker 3: That's done that, Okay, Bona fides could have something to 71 00:03:26,760 --> 00:03:27,040 Speaker 3: do with it. 72 00:03:27,760 --> 00:03:30,920 Speaker 1: Well, to me, that's nonsense. In the end, it just 73 00:03:30,960 --> 00:03:33,760 Speaker 1: depends on what you bring on the day, right, So 74 00:03:33,960 --> 00:03:36,920 Speaker 1: bring the show to the show. What are you looking 75 00:03:36,960 --> 00:03:39,320 Speaker 1: for today. I'm assuming mostly you're looking for a bit 76 00:03:39,320 --> 00:03:40,080 Speaker 1: of razzled up. 77 00:03:41,120 --> 00:03:46,160 Speaker 3: It comes last, okay, but before that topicality, timeliness, and 78 00:03:46,200 --> 00:03:51,120 Speaker 3: of course economic impact, and I do inescapably have a 79 00:03:51,160 --> 00:03:54,760 Speaker 3: little bit of my subjective bias in the judging criteria, 80 00:03:54,800 --> 00:03:55,320 Speaker 3: a little bit. 81 00:03:55,440 --> 00:03:59,240 Speaker 1: Yeah, okay, Sean, shall we jump in. You've been very quiet. 82 00:03:59,720 --> 00:04:03,320 Speaker 2: I'm a bit flabbergasted by the compliments from the judge 83 00:04:03,360 --> 00:04:07,440 Speaker 2: and I it's mostly by this point of abuse him 84 00:04:07,440 --> 00:04:13,120 Speaker 2: a few times so nice to me and like over 85 00:04:13,640 --> 00:04:17,600 Speaker 2: egged my achievements without a doubt, and I'm just flabbergasted. 86 00:04:17,600 --> 00:04:18,360 Speaker 2: I'm not sure what to say. 87 00:04:18,440 --> 00:04:20,280 Speaker 1: I love how he just rattled off all of your 88 00:04:20,320 --> 00:04:25,120 Speaker 1: achievements and hasn't mentioned any of my Just round me 89 00:04:25,360 --> 00:04:26,080 Speaker 1: into the floor. 90 00:04:26,200 --> 00:04:33,320 Speaker 2: Now, let's think of some of Michael's achievements, right, Yeah, anyway. 91 00:04:33,040 --> 00:04:34,560 Speaker 1: This is unfair. 92 00:04:35,760 --> 00:04:39,680 Speaker 2: You were head of content and use at one of 93 00:04:39,680 --> 00:04:42,880 Speaker 2: the biggest radio stations in the country, and you you 94 00:04:43,640 --> 00:04:48,120 Speaker 2: were the EP four, I would say, the most successful. 95 00:04:48,920 --> 00:04:52,520 Speaker 2: If you're talking about radio radiation radiation in the country. 96 00:04:53,360 --> 00:04:57,040 Speaker 2: You you you also kind of have a really good 97 00:04:57,040 --> 00:04:59,240 Speaker 2: ability to be trivial about important stuff. 98 00:04:59,279 --> 00:05:01,920 Speaker 3: I do it in one published it written, a second 99 00:05:01,920 --> 00:05:04,880 Speaker 3: book read nearly published coming out. 100 00:05:05,120 --> 00:05:07,800 Speaker 2: The third Yeah, not bad, I think in the fourth. 101 00:05:07,520 --> 00:05:15,040 Speaker 1: The generals and also forgot to mention dreamboat General self 102 00:05:15,080 --> 00:05:18,240 Speaker 1: described tell you about the biggest story of the week, 103 00:05:18,240 --> 00:05:19,200 Speaker 1: we'd like, that's. 104 00:05:19,000 --> 00:05:23,240 Speaker 2: Just ruined it for me. You wouldn't think that anything 105 00:05:23,279 --> 00:05:29,560 Speaker 2: could really knock out an election. But Donald Trump, donald Trump, 106 00:05:30,360 --> 00:05:32,440 Speaker 2: the great Man. Well I don't know about that, but 107 00:05:32,520 --> 00:05:39,040 Speaker 2: the man himself has totally changed the rhetoric this week 108 00:05:39,240 --> 00:05:42,440 Speaker 2: about tariffs, about what he thinks of Jeraan Powell, the 109 00:05:42,520 --> 00:05:45,680 Speaker 2: head of the Federal Reserve, Elon Masks said on going 110 00:05:45,720 --> 00:05:48,640 Speaker 2: back to my day job, enough so rather than putting 111 00:05:48,680 --> 00:05:50,760 Speaker 2: one hundred and forty five percent tariffs on Chinese goods, 112 00:05:50,760 --> 00:05:54,400 Speaker 2: Donald Trump's like, and people are saying you're going to 113 00:05:54,440 --> 00:05:58,800 Speaker 2: go fifty to sixty something like that. We are certainly 114 00:05:59,080 --> 00:06:01,640 Speaker 2: Earlier in the week, Donald Trump called j Powell, the 115 00:06:01,680 --> 00:06:04,920 Speaker 2: Federal Reserve bys a loser. He said, what was it? 116 00:06:05,000 --> 00:06:08,760 Speaker 2: He called him a mister too slow slow mon rate cuts. 117 00:06:09,160 --> 00:06:11,520 Speaker 2: But what I loved about the tweet mister too slow 118 00:06:11,880 --> 00:06:19,560 Speaker 2: was capital Mr dot capital t double capital slow, perfect punctuation. 119 00:06:19,760 --> 00:06:22,840 Speaker 2: World done. Mister too slow, which suggested he puts a 120 00:06:22,839 --> 00:06:26,320 Speaker 2: lot of thought into what he actually capitalized just building 121 00:06:26,360 --> 00:06:28,520 Speaker 2: it out, he's actually doing it, and so he called 122 00:06:28,560 --> 00:06:30,480 Speaker 2: him mister too slow and a loser. He then changed 123 00:06:30,480 --> 00:06:31,359 Speaker 2: his mind. Is he not a bad like? 124 00:06:31,720 --> 00:06:35,719 Speaker 1: Can I ask when did Jerome Powell start being known 125 00:06:35,760 --> 00:06:39,120 Speaker 1: as J Powell? I know that's his nickname, right or what. 126 00:06:39,120 --> 00:06:41,240 Speaker 2: He's always been J Powell? Because and then when he 127 00:06:41,279 --> 00:06:43,360 Speaker 2: got the job, he became Jerome for a while, okay, 128 00:06:43,440 --> 00:06:45,080 Speaker 2: and now after a couple of years we're back to 129 00:06:45,160 --> 00:06:45,880 Speaker 2: j Oh. 130 00:06:45,920 --> 00:06:49,440 Speaker 1: Gotcha, which it would be hard for Adam because Adam 131 00:06:49,800 --> 00:06:51,880 Speaker 1: has a real issue with nicknames. 132 00:06:51,960 --> 00:06:54,440 Speaker 2: Don't wrestle with that. So we talk about like ain 133 00:06:54,520 --> 00:06:56,480 Speaker 2: Z Bank and Adam's like no, no, no Astral in 134 00:06:56,520 --> 00:07:00,600 Speaker 2: New Zealand. Yes, banking group, Yes, exactly right. The point 135 00:07:00,680 --> 00:07:04,520 Speaker 2: is Donald Trump backing down on Tariff's backing down on 136 00:07:04,600 --> 00:07:09,640 Speaker 2: J Powell Elon Musk. Now, the fact that Tesla's had 137 00:07:09,680 --> 00:07:12,600 Speaker 2: income felbow seventy one percent last during the March quarter, 138 00:07:12,640 --> 00:07:17,960 Speaker 2: that probably, you know, added some sort of influence on 139 00:07:18,080 --> 00:07:21,760 Speaker 2: him going back to his day job. The equity market 140 00:07:21,840 --> 00:07:23,720 Speaker 2: surged on the back of this, right, we had oil 141 00:07:23,800 --> 00:07:26,200 Speaker 2: going up, we had the US dollar going up, we 142 00:07:26,280 --> 00:07:31,840 Speaker 2: had gold coming up. It totally re focused financial markets 143 00:07:32,160 --> 00:07:35,080 Speaker 2: when Donald Trump said this, Now do we believe him? 144 00:07:35,520 --> 00:07:38,800 Speaker 2: Dunam Danah, You know, like he could be loose with 145 00:07:38,840 --> 00:07:40,920 Speaker 2: the truth. How can you lie straight in bed at night? 146 00:07:41,120 --> 00:07:46,560 Speaker 2: Oh yeah, I just think that is the biggest story 147 00:07:46,600 --> 00:07:49,360 Speaker 2: because it actually has real impact on what's going on 148 00:07:49,440 --> 00:07:53,280 Speaker 2: in financial markets. Now, Michael loose with the truth? Thompson 149 00:07:53,280 --> 00:07:55,080 Speaker 2: over to you please. 150 00:07:55,760 --> 00:08:00,440 Speaker 1: That is uncalled for character assassination, if ever heard one. 151 00:08:00,760 --> 00:08:07,160 Speaker 1: I'm always honest. Sometimes I ambellish. Perhaps I'm always honest, 152 00:08:07,280 --> 00:08:11,880 Speaker 1: and then you thought about it that one. Sometimes I 153 00:08:11,920 --> 00:08:14,520 Speaker 1: do just kind of just just make it sound flashier 154 00:08:14,520 --> 00:08:17,680 Speaker 1: than it is, though in order to win. I do 155 00:08:17,760 --> 00:08:20,520 Speaker 1: not need to do that this week, though, because the 156 00:08:20,560 --> 00:08:22,880 Speaker 1: biggest story is the same as it was last week, 157 00:08:22,920 --> 00:08:28,200 Speaker 1: and it's well as I made the point last week, 158 00:08:28,280 --> 00:08:32,240 Speaker 1: it should be the biggest story last week, the week before, 159 00:08:32,360 --> 00:08:34,280 Speaker 1: it should be next week and probably the week after. 160 00:08:34,400 --> 00:08:37,600 Speaker 1: Because this is a critical time for Australia right we 161 00:08:37,640 --> 00:08:43,600 Speaker 1: are still in the midst of the federal election campaign, 162 00:08:43,760 --> 00:08:50,520 Speaker 1: only one more week to go. This decides the fate 163 00:08:50,640 --> 00:08:54,960 Speaker 1: of our entire country. Adam so write that down. Besides 164 00:08:55,040 --> 00:08:59,040 Speaker 1: the fate underline it please. Campaigning was obviously paused at 165 00:08:59,040 --> 00:09:01,520 Speaker 1: the beginning of the of the week following the death 166 00:09:01,640 --> 00:09:06,840 Speaker 1: of the pope. The third debate then still took place, 167 00:09:07,280 --> 00:09:12,600 Speaker 1: and arguably it was a bit more spicy than the 168 00:09:12,640 --> 00:09:16,400 Speaker 1: previous two debates, and Peter Dutton I think did do 169 00:09:16,520 --> 00:09:19,679 Speaker 1: a better job in that debate. I knew that it 170 00:09:19,720 --> 00:09:22,080 Speaker 1: was in fact his best performance yet out of the three, 171 00:09:22,720 --> 00:09:25,640 Speaker 1: and he may have done enough to actually win that debate. Actually, 172 00:09:25,679 --> 00:09:28,000 Speaker 1: we've seen some more new policies this week. I could 173 00:09:28,000 --> 00:09:29,440 Speaker 1: just go on and on. There was just such a 174 00:09:29,480 --> 00:09:33,320 Speaker 1: big week in politics. I probably will Yes, we had 175 00:09:33,360 --> 00:09:36,320 Speaker 1: Opposition leader Peter Dutton saying that he's going to fund 176 00:09:36,320 --> 00:09:39,920 Speaker 1: a proposed twenty one billion dollar increase in defense spending 177 00:09:39,960 --> 00:09:43,480 Speaker 1: through higher income taxes rather than spending cuts. So it's 178 00:09:43,520 --> 00:09:46,160 Speaker 1: not a great look going into the election saying that 179 00:09:46,200 --> 00:09:48,200 Speaker 1: he's going to hike taxes. But is it really a 180 00:09:48,240 --> 00:09:50,440 Speaker 1: tax hike if it's just reversing something that was only 181 00:09:50,480 --> 00:09:56,560 Speaker 1: recently introduced. We have Labor announcing a critical minerals reserve. 182 00:09:56,720 --> 00:09:59,680 Speaker 1: Funding for that one. We had early voting start, so 183 00:09:59,720 --> 00:10:02,000 Speaker 1: you know it should be the biggest story just for 184 00:10:02,080 --> 00:10:05,760 Speaker 1: that right, because people are actually voting. This isn't the 185 00:10:05,800 --> 00:10:09,360 Speaker 1: campaign anymore. The election is on. It is happening right 186 00:10:09,400 --> 00:10:12,319 Speaker 1: now as we speak. People are lining up to vote. 187 00:10:12,480 --> 00:10:17,800 Speaker 1: There were five hundred thousand people who voted on Tuesday, 188 00:10:18,080 --> 00:10:19,760 Speaker 1: the first day of pre poll voting. 189 00:10:19,920 --> 00:10:20,880 Speaker 2: That is huge. 190 00:10:20,920 --> 00:10:24,640 Speaker 1: That is up seventy percent on three years ago. What 191 00:10:24,679 --> 00:10:28,600 Speaker 1: this tells us, right, is that people aren't waiting to 192 00:10:28,679 --> 00:10:33,280 Speaker 1: make up their mind. Australia has already decided. That is 193 00:10:33,320 --> 00:10:36,959 Speaker 1: a big story. It is you're not even neither of 194 00:10:37,000 --> 00:10:38,080 Speaker 1: you are actually looking at. 195 00:10:37,920 --> 00:10:40,200 Speaker 2: Her stuff going on. He's really interesting what I'm doing. 196 00:10:40,679 --> 00:10:43,520 Speaker 2: You know what I'm responding to emails? Sorry, go on, 197 00:10:44,480 --> 00:10:46,120 Speaker 2: this was the biggest story. 198 00:10:46,160 --> 00:10:50,280 Speaker 1: And you know what, you're being complacent about the biggest story. 199 00:10:50,200 --> 00:10:51,920 Speaker 2: About your confident of winning this, aren't you? 200 00:10:52,040 --> 00:10:54,760 Speaker 1: I certainly am, But I feel like you should be invested. 201 00:10:54,920 --> 00:10:57,920 Speaker 1: I should see the fire of democracy in your eyes, 202 00:10:58,040 --> 00:10:58,840 Speaker 1: shol oh. 203 00:10:58,800 --> 00:11:01,840 Speaker 2: Good and I do not the democracy. 204 00:11:01,920 --> 00:11:06,280 Speaker 1: That's democracy burning in your eyes. It is the biggest 205 00:11:06,280 --> 00:11:08,880 Speaker 1: story of the week, of the month, of the year. 206 00:11:09,440 --> 00:11:15,000 Speaker 1: Australia decides and Adam, now you have to as well close. 207 00:11:15,600 --> 00:11:19,360 Speaker 3: Sean wins there's only three working days in the week. 208 00:11:19,760 --> 00:11:22,920 Speaker 3: There's really not a lot of electioneering was going on. 209 00:11:23,000 --> 00:11:26,560 Speaker 3: I think, to the coalition's credit, the defense policy change 210 00:11:26,600 --> 00:11:29,560 Speaker 3: is actually an announcement, a significant policy announcement. 211 00:11:29,840 --> 00:11:33,679 Speaker 2: Did Michael mentioned that one? I certainly did. I wasn't 212 00:11:34,640 --> 00:11:35,920 Speaker 2: The debate was good. 213 00:11:36,120 --> 00:11:38,880 Speaker 3: I thought that nine put on a really good format 214 00:11:38,960 --> 00:11:42,640 Speaker 3: for the debate, and I enjoyed that interesting, Michael, five 215 00:11:42,679 --> 00:11:45,880 Speaker 3: hundred thousand people have voted already that that is a 216 00:11:45,920 --> 00:11:49,280 Speaker 3: really important stat And I wonder just not only the 217 00:11:49,320 --> 00:11:52,720 Speaker 3: timing of the election, obviously around Eastern school holidays is difficult, 218 00:11:52,920 --> 00:11:56,600 Speaker 3: but did everyone get it right by leaving policies announcements 219 00:11:56,800 --> 00:11:58,240 Speaker 3: so late in the piece. 220 00:11:58,400 --> 00:12:00,520 Speaker 1: It's a really good point. Actually, I wonder, I all mean, 221 00:12:00,559 --> 00:12:03,480 Speaker 1: next time in the next election campaign, whether it is 222 00:12:03,520 --> 00:12:06,280 Speaker 1: really kind of loaded into the first two or three 223 00:12:06,320 --> 00:12:08,840 Speaker 1: weeks of the campaign. Everything is out there and then 224 00:12:08,880 --> 00:12:10,800 Speaker 1: all of a sudden you kind of leave just some 225 00:12:10,800 --> 00:12:11,960 Speaker 1: some handshaking, tight. 226 00:12:11,880 --> 00:12:18,120 Speaker 2: End baby kissing, handshaking. I wonder whether the opposition decided 227 00:12:18,120 --> 00:12:21,240 Speaker 2: that they needed to do something big because it was 228 00:12:21,240 --> 00:12:24,160 Speaker 2: all supposed to come out before prepoling, and then suddenly 229 00:12:24,160 --> 00:12:26,480 Speaker 2: we had a defense twenty one billion dollars. 230 00:12:26,960 --> 00:12:29,199 Speaker 3: A housing policy came out pretty late. 231 00:12:29,559 --> 00:12:32,320 Speaker 2: But they all came out before Tuesday, the housing policy 232 00:12:32,480 --> 00:12:35,440 Speaker 2: and cards and the twenty five cent x sis and 233 00:12:35,480 --> 00:12:39,000 Speaker 2: all that. But the defense one just seemed to be trained. 234 00:12:39,520 --> 00:12:41,559 Speaker 2: Who knows? Who am I to argue? 235 00:12:42,040 --> 00:12:45,040 Speaker 3: I think it could be an emblem of what might 236 00:12:45,160 --> 00:12:46,120 Speaker 3: change next time. 237 00:12:46,160 --> 00:12:48,880 Speaker 2: A respect early prepolers don't like defense. 238 00:12:48,640 --> 00:12:53,600 Speaker 1: Stuff, Isn't it interesting? 239 00:12:53,760 --> 00:13:00,480 Speaker 3: It's an interesting suspicion, Sean. But Donald Trump, he has 240 00:13:00,640 --> 00:13:03,720 Speaker 3: not only hit the handbrake, he's gone into reverse so 241 00:13:03,960 --> 00:13:07,320 Speaker 3: quickly on this stuff rightfully, but the carnage that it's 242 00:13:07,440 --> 00:13:11,720 Speaker 3: caused has been insane. And so I think this is 243 00:13:11,760 --> 00:13:14,240 Speaker 3: the most significant story of the week. Definitely the biggest 244 00:13:14,240 --> 00:13:15,800 Speaker 3: story for me is a reversal by Trump. 245 00:13:15,880 --> 00:13:17,079 Speaker 2: I love the fact that they I'm a master in 246 00:13:17,160 --> 00:13:19,280 Speaker 2: most of his work's done, really finished. 247 00:13:20,200 --> 00:13:20,959 Speaker 3: I can go home now. 248 00:13:21,040 --> 00:13:25,160 Speaker 2: Your share price down fifty Yeah? Right? Okay here yep, 249 00:13:25,320 --> 00:13:28,439 Speaker 2: heading back to California. So one nil. 250 00:13:29,480 --> 00:13:31,960 Speaker 1: Shall we move on to the most remarkable story of 251 00:13:32,000 --> 00:13:32,360 Speaker 1: the week? 252 00:13:32,600 --> 00:13:34,839 Speaker 2: Yes, okay, for Michael, We'll go first. 253 00:13:35,400 --> 00:13:38,160 Speaker 1: What the heck happened to Commonwealth Bank this week? 254 00:13:39,480 --> 00:13:40,200 Speaker 3: In a good way? 255 00:13:40,280 --> 00:13:42,800 Speaker 1: Michael yes, Adam in a very good way. 256 00:13:43,360 --> 00:13:49,559 Speaker 2: Really well, yes, I love missing some conviction. 257 00:13:51,880 --> 00:13:55,120 Speaker 1: Well, it's only because he used to be like a 258 00:13:55,160 --> 00:13:57,920 Speaker 1: banking reporter and an other thing. So whenever I start 259 00:13:57,960 --> 00:14:00,440 Speaker 1: talking banks to Sean, I'm like, oh God, please don't 260 00:14:00,480 --> 00:14:03,120 Speaker 1: let me get this wrong, because he doesn't waiting to 261 00:14:03,280 --> 00:14:07,360 Speaker 1: pounds and go on anyway, But just cast your mind 262 00:14:07,480 --> 00:14:10,760 Speaker 1: back to Tuesday. It's a pretty quiet day, really, wasn't 263 00:14:10,800 --> 00:14:14,160 Speaker 1: it. It was sleepy almost off the back of the long weekend, 264 00:14:14,600 --> 00:14:19,720 Speaker 1: much like your performance in this show that felt unnecessarily 265 00:14:19,840 --> 00:14:25,640 Speaker 1: mean twice to crack me out. I'll hang on, hang on. 266 00:14:26,160 --> 00:14:28,160 Speaker 1: It was Adam that had to go at me earlier. 267 00:14:27,960 --> 00:14:31,240 Speaker 2: Wasn't it. I done nothing wrong? You know what? I think. 268 00:14:31,280 --> 00:14:34,080 Speaker 1: I come into this sometimes with a slightly argumentative spirit. 269 00:14:34,840 --> 00:14:37,440 Speaker 2: Really yes, and I shouldn't do that. 270 00:14:37,480 --> 00:14:39,480 Speaker 3: An interesting observation. 271 00:14:40,320 --> 00:14:45,640 Speaker 1: Self reflection. Anyway, moved past that pretty quickly. Tuesday was 272 00:14:45,680 --> 00:14:48,440 Speaker 1: a pretty quiet day after the long weekend. Not a 273 00:14:48,520 --> 00:14:51,400 Speaker 1: huge amount happening for the banks, well for three of 274 00:14:51,440 --> 00:14:54,920 Speaker 1: the big four banks. But but. 275 00:14:56,680 --> 00:14:57,960 Speaker 2: Watching you. 276 00:14:59,680 --> 00:15:00,800 Speaker 3: Must this story. 277 00:15:01,200 --> 00:15:04,760 Speaker 1: That's right, gig going, Well, tell me more, tell me 278 00:15:04,920 --> 00:15:07,080 Speaker 1: Common Well Bank. 279 00:15:07,280 --> 00:15:10,600 Speaker 2: CBA, com Bank, that one that one, the yellow one. 280 00:15:10,720 --> 00:15:17,000 Speaker 1: Yeah yeah, yeah, surge surged more than four percent, four 281 00:15:17,040 --> 00:15:20,760 Speaker 1: percent in one day. It's already Australia's biggest company share 282 00:15:20,800 --> 00:15:26,320 Speaker 1: price hit a new record high. Why well, a bit 283 00:15:26,360 --> 00:15:30,000 Speaker 1: of a mystery really, And this is why we love 284 00:15:30,080 --> 00:15:32,120 Speaker 1: this story collectively. 285 00:15:32,560 --> 00:15:34,600 Speaker 3: It is Yes, I do too. 286 00:15:35,280 --> 00:15:37,280 Speaker 2: It is a great story. Get to the point that 287 00:15:37,360 --> 00:15:38,040 Speaker 2: we're a lot. 288 00:15:37,880 --> 00:15:41,720 Speaker 1: Of chaos in markets. CBA scene perhaps is very safe 289 00:15:41,760 --> 00:15:44,400 Speaker 1: forget gold. Maybe Comwealth Banker is the new kind of 290 00:15:44,440 --> 00:15:47,520 Speaker 1: safe haven market cap around. Was it two hundred and 291 00:15:47,520 --> 00:15:51,560 Speaker 1: eighty billion dollars? So much space between first and second 292 00:15:51,720 --> 00:15:54,520 Speaker 1: BHP and the other three big banks combined, as you 293 00:15:54,520 --> 00:15:56,880 Speaker 1: pointed out this week, Sean, and admirably and you really 294 00:15:56,920 --> 00:15:58,960 Speaker 1: put a lot of kind of focus and attention on 295 00:15:58,960 --> 00:16:02,440 Speaker 1: this because it was so remarkable that the other three 296 00:16:02,480 --> 00:16:07,920 Speaker 1: big banks are only just bigger combined than CBA on 297 00:16:08,000 --> 00:16:11,680 Speaker 1: its own, and that the stat that I saw in 298 00:16:11,800 --> 00:16:14,560 Speaker 1: multiple places this week, which I just find remarkable, the 299 00:16:14,640 --> 00:16:17,520 Speaker 1: fact that Comwealth bank can lay claim to what is 300 00:16:17,560 --> 00:16:23,840 Speaker 1: an extraordinary title widely cited this week, the most expensive 301 00:16:23,920 --> 00:16:26,840 Speaker 1: bank stock in the history of the world, in the 302 00:16:26,920 --> 00:16:29,480 Speaker 1: history of the world, going all the way back to 303 00:16:29,520 --> 00:16:35,359 Speaker 1: the Dark Ages to the Stone Age. The most expensive 304 00:16:35,400 --> 00:16:40,280 Speaker 1: bank stock in the history of the world. Remarkable it is. 305 00:16:40,480 --> 00:16:41,880 Speaker 2: Do you know what I think is kind of the 306 00:16:42,360 --> 00:16:45,680 Speaker 2: forgotten story in the Australian bankstock. Look, you're looking at me. 307 00:16:46,120 --> 00:16:48,280 Speaker 2: The story's going so well, so far. Then I jump 308 00:16:48,320 --> 00:16:49,360 Speaker 2: in with something really dull. 309 00:16:49,840 --> 00:16:52,360 Speaker 1: No, no, no, go for it. 310 00:16:51,520 --> 00:16:55,960 Speaker 2: I done. Pac twelve months ago was actually the dud 311 00:16:56,080 --> 00:16:59,360 Speaker 2: bank stock foremost. Yes, it's now the second lundest bank. 312 00:16:59,400 --> 00:17:01,800 Speaker 2: Fourth lunches happening is bigger the National Australia Bank. It's 313 00:17:01,800 --> 00:17:04,840 Speaker 2: taken that title in the last week or so. Z 314 00:17:04,920 --> 00:17:06,680 Speaker 2: has had a bit of a struggle co of BAK 315 00:17:06,720 --> 00:17:08,760 Speaker 2: the standout. But actually Westpac's the other one that's done 316 00:17:08,760 --> 00:17:09,080 Speaker 2: really well. 317 00:17:09,119 --> 00:17:11,720 Speaker 1: I was going to mention that, actually, so i'll it 318 00:17:11,840 --> 00:17:14,240 Speaker 1: just makes sure you write that down because obviously Sean 319 00:17:14,280 --> 00:17:15,679 Speaker 1: stolen my thunder with that. 320 00:17:15,760 --> 00:17:19,719 Speaker 2: It was my part two of the story. Westpac most remarkable. 321 00:17:19,880 --> 00:17:21,360 Speaker 2: How Commonwealth Bank has done. 322 00:17:21,400 --> 00:17:24,920 Speaker 1: It's amazing And just this week the most expensive bank 323 00:17:24,960 --> 00:17:29,400 Speaker 1: stock not just right here, right now, in the entire 324 00:17:29,440 --> 00:17:33,359 Speaker 1: world and in the history of the entire world. 325 00:17:33,520 --> 00:17:37,840 Speaker 2: Talking Rockefellers, just we are talking like ancient run. 326 00:17:37,920 --> 00:17:43,159 Speaker 1: Yep, yep, Caesars Bank, whatever bank, where the whole bit? 327 00:17:43,359 --> 00:17:47,240 Speaker 2: Right, let me give you the most remarkable story. And 328 00:17:47,280 --> 00:17:52,800 Speaker 2: this actually genuinely is remarkable as aosed to Michaels just 329 00:17:53,880 --> 00:17:58,320 Speaker 2: yet another Now, this is amazing. Macquarie selling out of 330 00:17:58,320 --> 00:18:02,200 Speaker 2: its entire North American and europe In public asset management business. 331 00:18:02,680 --> 00:18:06,040 Speaker 2: I did not like the noise that Adam, Yeah, yeah, 332 00:18:07,119 --> 00:18:10,080 Speaker 2: this is it. So they've been out there for fifteen 333 00:18:10,200 --> 00:18:15,000 Speaker 2: twenty years buying up businesses, investing in North American and 334 00:18:15,040 --> 00:18:18,840 Speaker 2: European equities, fixed income. It's been a real part of 335 00:18:18,880 --> 00:18:22,320 Speaker 2: their kind of the quarry story. Two hundred and eighty 336 00:18:22,320 --> 00:18:26,560 Speaker 2: five billion dollars in assets that they oversee in those economies. 337 00:18:26,840 --> 00:18:30,760 Speaker 2: They've said, this is great, but we can't make much 338 00:18:30,840 --> 00:18:33,680 Speaker 2: money from it, so we're out of here. And so 339 00:18:33,800 --> 00:18:36,920 Speaker 2: they've just done the reverse ferret and they've sold. They've 340 00:18:36,920 --> 00:18:40,960 Speaker 2: offloaded international equities, fixed income, multi asset investments to Japan's 341 00:18:41,000 --> 00:18:42,920 Speaker 2: The Mirror for two point eight billion dollars. Well, I 342 00:18:42,920 --> 00:18:44,919 Speaker 2: the thing is really interesting. Two point eight billion dollars, 343 00:18:44,960 --> 00:18:47,280 Speaker 2: two hundred and eighty five billion dollars in assets, right, 344 00:18:47,720 --> 00:18:49,920 Speaker 2: you would think when you've got that many assets, selling 345 00:18:49,960 --> 00:18:52,160 Speaker 2: it for one percent of assets. In fact, a little 346 00:18:52,160 --> 00:18:55,560 Speaker 2: bit less than one percent of assets isn't a great price. 347 00:18:55,680 --> 00:18:59,760 Speaker 2: What it does show is the skinny margins in that 348 00:18:59,840 --> 00:19:03,160 Speaker 2: type of business. Now, Macquary Asset Management is what it's 349 00:19:03,160 --> 00:19:05,399 Speaker 2: known as. It's going to keep operating in Australia, so 350 00:19:05,400 --> 00:19:07,919 Speaker 2: it'll still be investing in local equities and fixed income. 351 00:19:08,800 --> 00:19:11,680 Speaker 2: But public markets in North America they're out. They're now 352 00:19:11,720 --> 00:19:14,640 Speaker 2: dominated by really large low fee funds like black Rock, 353 00:19:14,760 --> 00:19:19,760 Speaker 2: Vanguard active funds. Management in public markets in the Northern 354 00:19:19,800 --> 00:19:23,320 Speaker 2: Hemisphere or particularly North America just isn't providing the returns 355 00:19:23,400 --> 00:19:26,800 Speaker 2: that more Quarry wants. It's more interested in private market investing. 356 00:19:26,840 --> 00:19:29,879 Speaker 2: So we have lots of guests on about private capital, 357 00:19:30,000 --> 00:19:34,600 Speaker 2: private equity. We talk about infrastructure funds and those sorts 358 00:19:34,600 --> 00:19:36,800 Speaker 2: of things, real estate funds they tend to fall into 359 00:19:36,800 --> 00:19:40,160 Speaker 2: that market, but equities to fixed think kimc Quarry's getting 360 00:19:40,160 --> 00:19:44,840 Speaker 2: out in the Northern hemrsehere that actually is truly remarkable. 361 00:19:44,920 --> 00:19:48,760 Speaker 2: No matter what your judgment is on this, Adam, I 362 00:19:48,800 --> 00:19:50,879 Speaker 2: think it's amazing that one of the leaders in that, 363 00:19:50,920 --> 00:19:54,040 Speaker 2: one of the Australian companies that has really led that globally. 364 00:19:54,240 --> 00:19:56,800 Speaker 2: Certainly for an Australian company going global, as just said, 365 00:19:57,320 --> 00:19:57,920 Speaker 2: time to get out. 366 00:19:58,320 --> 00:20:01,600 Speaker 1: You know the other you mentioned Margins there and the 367 00:20:01,680 --> 00:20:03,840 Speaker 1: other story that I was tossing up whether to go 368 00:20:03,920 --> 00:20:07,240 Speaker 1: with was the she and the clothing retailer. The story 369 00:20:07,280 --> 00:20:09,240 Speaker 1: and about the fact that they was at one billion 370 00:20:09,280 --> 00:20:12,240 Speaker 1: one point two six billion dollars in sales and it 371 00:20:12,320 --> 00:20:14,440 Speaker 1: was what fifteen million dollars. 372 00:20:14,680 --> 00:20:16,480 Speaker 2: It went from ten to fifteen or something. 373 00:20:16,359 --> 00:20:21,000 Speaker 1: Yeah, which is just fractionally yeah, Margets Yeah, anyway, that 374 00:20:21,119 --> 00:20:24,560 Speaker 1: was what a landgrab in retail. Yeah, absolutely, really shaking 375 00:20:24,600 --> 00:20:25,520 Speaker 1: up the retail space. 376 00:20:26,040 --> 00:20:31,639 Speaker 2: I reckon, because objectively my story is so much better 377 00:20:31,640 --> 00:20:36,680 Speaker 2: than Michaels. I reckon. We should throw in the Shean 378 00:20:37,240 --> 00:20:40,879 Speaker 2: story with the commonal Banks to two Michaels. Yeah, so 379 00:20:41,200 --> 00:20:45,000 Speaker 2: Michael gets both those stories because the Common Banks story, 380 00:20:45,280 --> 00:20:47,760 Speaker 2: I mean, remarkable. We're spoken about it NonStop, right, So 381 00:20:47,840 --> 00:20:52,280 Speaker 2: let's make it common Bank plus She yeah versus Macquarie. 382 00:20:52,320 --> 00:20:55,360 Speaker 2: Now that this is cocky, I agree, Yeah, And in 383 00:20:55,400 --> 00:20:58,199 Speaker 2: my mind, I'm very confident obviously with the judge. He 384 00:20:58,280 --> 00:21:00,880 Speaker 2: has a mind of his own. We have discovered. 385 00:21:01,640 --> 00:21:06,600 Speaker 3: Okay, Michael wins because of this like change marginally, so 386 00:21:07,320 --> 00:21:11,080 Speaker 3: Macquarie asset management moving out of the US right. 387 00:21:11,119 --> 00:21:15,439 Speaker 2: And Europe sorry, and europe equities fixed income. 388 00:21:16,200 --> 00:21:20,280 Speaker 3: So so interesting given you know what the Trump disruption 389 00:21:20,400 --> 00:21:23,439 Speaker 3: for one of a better name has caused around the world, 390 00:21:23,760 --> 00:21:27,080 Speaker 3: and the prediction that the anchors may go on in 391 00:21:27,160 --> 00:21:32,119 Speaker 3: America versus there may be some greater progress out of 392 00:21:32,160 --> 00:21:36,080 Speaker 3: like Germany, out of Europe, and so they made a 393 00:21:36,080 --> 00:21:37,959 Speaker 3: decision to get out of all those assets. 394 00:21:38,040 --> 00:21:40,040 Speaker 2: Adam is starting to sound like Elbow. The other night, 395 00:21:40,080 --> 00:21:42,400 Speaker 2: you know, they asked Anthony Alberniasy what they they asked, 396 00:21:42,560 --> 00:21:45,720 Speaker 2: Was it about airbnb or something to start about insurance. 397 00:21:45,280 --> 00:21:47,520 Speaker 1: And no, it started going on then about immigration. Immigration 398 00:21:47,760 --> 00:21:50,600 Speaker 1: got quite less than immigration after an airbnb question. 399 00:21:51,000 --> 00:21:54,119 Speaker 2: Yeah, yeah, Adam, here is somehow bringing Trump into the 400 00:21:54,200 --> 00:21:56,120 Speaker 2: quarry Sea, which I think is irrelevant, but. 401 00:21:56,720 --> 00:21:59,199 Speaker 3: I don't know. I think that the day are predicting 402 00:21:59,240 --> 00:22:01,400 Speaker 3: they can make more money by putting their money elsewhere, 403 00:22:01,640 --> 00:22:05,879 Speaker 3: and so that we're drawing out of those markets is massive, remarkable, 404 00:22:06,000 --> 00:22:09,520 Speaker 3: and it is remarkable. But the combination of those two things, 405 00:22:09,560 --> 00:22:14,600 Speaker 3: with Michael Commonwealth Bank being arguably overvalued so much, people 406 00:22:14,600 --> 00:22:18,719 Speaker 3: seeking security so much that it's grew four percent in 407 00:22:18,800 --> 00:22:21,280 Speaker 3: a day that it is worth more than almost the 408 00:22:21,280 --> 00:22:25,000 Speaker 3: other three banks combined. Plus Shean, you know that land 409 00:22:25,000 --> 00:22:31,520 Speaker 3: grab into virtual retail is incredible. So i'd say on 410 00:22:31,640 --> 00:22:34,800 Speaker 3: remarkability the composite of the two stories, Michael, you just win. 411 00:22:36,359 --> 00:22:38,960 Speaker 2: Oh that's not really a moral victory though, is it. 412 00:22:39,240 --> 00:22:39,840 Speaker 1: I don't care. 413 00:22:40,040 --> 00:22:40,920 Speaker 2: It had to fall. 414 00:22:40,800 --> 00:22:46,880 Speaker 1: Flat, you know what, any victory for the Washington generals, right, 415 00:22:47,600 --> 00:22:48,320 Speaker 1: I will take it. 416 00:22:49,240 --> 00:22:51,080 Speaker 2: So that's one all. 417 00:22:51,320 --> 00:22:54,960 Speaker 1: I thank you both for the for the generosity in 418 00:22:55,040 --> 00:22:59,160 Speaker 1: allowing me to combine two completely unrelated stories together because 419 00:22:59,160 --> 00:23:01,440 Speaker 1: I needed the two together in order to beat Sean's 420 00:23:01,440 --> 00:23:04,320 Speaker 1: one excellent story. You know what, I'll take it, however 421 00:23:04,320 --> 00:23:06,840 Speaker 1: it comes okay, one all, we're heading into halftime. 422 00:23:06,840 --> 00:23:07,240 Speaker 2: We'll take a. 423 00:23:07,280 --> 00:23:17,719 Speaker 1: Quick break and come back with the mystery category. All right, Sean, 424 00:23:17,760 --> 00:23:20,320 Speaker 1: it is one all. We are now moving into the 425 00:23:20,359 --> 00:23:24,479 Speaker 1: mystery category and the mystery category this week, there were 426 00:23:24,520 --> 00:23:29,879 Speaker 1: some really good stories around that sound almost like science fiction, 427 00:23:31,040 --> 00:23:31,440 Speaker 1: and so. 428 00:23:32,920 --> 00:23:35,879 Speaker 3: What what the smile in your voice? 429 00:23:36,560 --> 00:23:41,159 Speaker 1: Ye, Sean? Would you like to go first with your story? 430 00:23:41,200 --> 00:23:44,639 Speaker 1: And then I'll bring it home with a good one. 431 00:23:45,480 --> 00:23:47,960 Speaker 3: Good nice sledge. 432 00:23:48,920 --> 00:23:54,399 Speaker 2: Well, my favorite science fiction story this week was something 433 00:23:54,520 --> 00:23:58,600 Speaker 2: very tangible to all of us. It was that magnificent 434 00:23:59,000 --> 00:24:08,480 Speaker 2: half marathon involving twelve thousand human runners and twenty one robots. 435 00:24:09,800 --> 00:24:12,639 Speaker 2: Six of the twenty one completed. My favorite was the 436 00:24:12,760 --> 00:24:16,680 Speaker 2: robot at the beginning. As soon as it was turned 437 00:24:16,720 --> 00:24:21,560 Speaker 2: on collapsed, which is my time of running minile. I'm 438 00:24:21,560 --> 00:24:30,280 Speaker 2: pretty happy about that. It turned up that the winner 439 00:24:30,320 --> 00:24:34,400 Speaker 2: of the robot part of it was it was one 440 00:24:34,400 --> 00:24:38,280 Speaker 2: point eight meters tall fifty two kilos, which is pretty tiny. 441 00:24:40,320 --> 00:24:41,800 Speaker 2: I think we did it in the three hours forty 442 00:24:41,840 --> 00:24:43,400 Speaker 2: minutes or something or other. Now, I don't know whether 443 00:24:43,440 --> 00:24:46,280 Speaker 2: you saw the rabbit, but it actually had the singlet 444 00:24:46,320 --> 00:24:52,160 Speaker 2: on the robot. It had its details, the number all that. 445 00:24:53,440 --> 00:24:56,800 Speaker 2: The second robot was just one point two meters tall, 446 00:24:56,880 --> 00:25:00,800 Speaker 2: weighing twenty nine kilos, wearing children's trainers to Oh. 447 00:25:00,720 --> 00:25:05,000 Speaker 3: That's creepy, I've been outrun by a child. 448 00:25:05,040 --> 00:25:09,399 Speaker 2: There's a female looking robot. The gun went just started 449 00:25:09,440 --> 00:25:11,720 Speaker 2: walking as opposed to a runningone's trying to run around 450 00:25:12,160 --> 00:25:16,320 Speaker 2: and then just fell over. There there was another one 451 00:25:16,320 --> 00:25:18,639 Speaker 2: that was using fans to push it like we developed 452 00:25:18,640 --> 00:25:21,440 Speaker 2: to use fans. That lasted about sixteen seconds I think, 453 00:25:21,480 --> 00:25:22,360 Speaker 2: before it crashed. 454 00:25:22,400 --> 00:25:22,760 Speaker 3: Oh my. 455 00:25:24,240 --> 00:25:26,160 Speaker 2: The point of the story, well, there is no point 456 00:25:26,160 --> 00:25:28,080 Speaker 2: of the story. It was just pretty funny to watch, 457 00:25:29,320 --> 00:25:33,240 Speaker 2: sort of science fiction, not really eventuating in the end. 458 00:25:33,480 --> 00:25:36,000 Speaker 2: The main person who won it, I think, with an 459 00:25:36,040 --> 00:25:38,639 Speaker 2: hour and two minutes, the human runner. The best of 460 00:25:38,640 --> 00:25:41,240 Speaker 2: the robots, as I said, was three hours forty minutes. 461 00:25:42,240 --> 00:25:44,560 Speaker 2: You know, one robot's head fell off. I thought that 462 00:25:44,600 --> 00:25:49,480 Speaker 2: was quite running at the end of the day. It's 463 00:25:49,560 --> 00:25:52,639 Speaker 2: just a funny story and it just the science fiction wise, 464 00:25:52,840 --> 00:25:55,399 Speaker 2: robots still have a long way to get before they 465 00:25:55,480 --> 00:25:56,760 Speaker 2: get to a Dansky style. 466 00:25:57,240 --> 00:26:00,399 Speaker 1: I love the one whose head fell off, almost as 467 00:26:00,400 --> 00:26:02,240 Speaker 1: though they put so much effort into making sure the 468 00:26:02,359 --> 00:26:08,760 Speaker 1: legs were. 469 00:26:07,920 --> 00:26:08,960 Speaker 2: We needed some screws. 470 00:26:09,000 --> 00:26:12,920 Speaker 1: Have you seen the video of the really really sinister 471 00:26:13,240 --> 00:26:18,000 Speaker 1: looking robot. I think it's like the a company called 472 00:26:18,080 --> 00:26:23,640 Speaker 1: Clone Robotics, and it's I think out of Poland, and 473 00:26:24,560 --> 00:26:28,439 Speaker 1: you google the video Clone Robotics, Poland Android. If you 474 00:26:28,480 --> 00:26:31,200 Speaker 1: search those things, you'll see it. And essentially it's hanging 475 00:26:31,280 --> 00:26:34,399 Speaker 1: up and it's quite like a humanoid shape, and it's 476 00:26:34,480 --> 00:26:39,840 Speaker 1: got like like muscular kind of physique and when you 477 00:26:39,880 --> 00:26:45,440 Speaker 1: watch it, the legs twitch and kick in a very 478 00:26:45,720 --> 00:26:48,960 Speaker 1: human like way, and it is by far the most 479 00:26:49,040 --> 00:26:51,680 Speaker 1: sinister thing you will ever see in terms of robotics. 480 00:26:51,800 --> 00:26:54,520 Speaker 1: Doesn't help that the company actually puts sinister music behind 481 00:26:54,520 --> 00:26:58,040 Speaker 1: the video as well. I think that's kind of figure that, Hey, 482 00:26:58,040 --> 00:26:59,399 Speaker 1: if this is going to be creepy, we may as 483 00:26:59,400 --> 00:27:01,879 Speaker 1: well lean right into it. We'll just go one hundred 484 00:27:01,880 --> 00:27:02,560 Speaker 1: percent creepy. 485 00:27:02,720 --> 00:27:09,560 Speaker 2: Anyway, enough of that that, I'm adding that bit cl. 486 00:27:11,359 --> 00:27:14,320 Speaker 3: Yeah, yeah, clone robotics. 487 00:27:14,359 --> 00:27:19,280 Speaker 1: Poland we need to talk about K two one a 488 00:27:19,520 --> 00:27:26,439 Speaker 1: B which Okay, it doesn't sound like much, but it 489 00:27:26,760 --> 00:27:30,480 Speaker 1: might sit a new star, no adam more than that, 490 00:27:31,040 --> 00:27:35,480 Speaker 1: it might just be the future and salvation of humanity, right, 491 00:27:35,880 --> 00:27:38,880 Speaker 1: might be an overreach and claim I have been known. 492 00:27:38,960 --> 00:27:40,560 Speaker 2: It's the story of the week, maybe not the story 493 00:27:40,600 --> 00:27:41,920 Speaker 2: of the month, but certainly the story of the week. 494 00:27:41,920 --> 00:27:43,000 Speaker 2: The one saving humanity. 495 00:27:43,080 --> 00:27:45,280 Speaker 1: That's right, that's right, probably could have done this is 496 00:27:45,280 --> 00:27:47,600 Speaker 1: the biggest story in that case. It is a planet. 497 00:27:47,680 --> 00:27:49,760 Speaker 1: It is not a star. It is a planet eight 498 00:27:49,800 --> 00:27:54,200 Speaker 1: point six times bigger than Earth orbiting a red dwarf star. 499 00:27:55,040 --> 00:27:58,840 Speaker 1: So not so dissimilar to our own son, which is 500 00:27:58,880 --> 00:28:00,000 Speaker 1: a yellow dwarf. 501 00:28:00,720 --> 00:28:04,240 Speaker 2: And so what's the red? Why are they called red 502 00:28:04,320 --> 00:28:05,000 Speaker 2: dwarf stars. 503 00:28:05,240 --> 00:28:09,080 Speaker 1: Well, it's because it is small red. 504 00:28:09,640 --> 00:28:14,960 Speaker 2: Because yes, that you're right, aren't they Because they're a 505 00:28:15,000 --> 00:28:16,280 Speaker 2: long way away, that's why they're reader. 506 00:28:16,720 --> 00:28:19,440 Speaker 1: No, no, no, no, it's it's actually based on these size and. 507 00:28:19,400 --> 00:28:22,280 Speaker 3: These elements that are burning. 508 00:28:22,119 --> 00:28:25,280 Speaker 2: And also because of their cooler surface temperatures causing them 509 00:28:25,280 --> 00:28:26,760 Speaker 2: to emit more light in the red part of the 510 00:28:26,800 --> 00:28:30,679 Speaker 2: electronomagnetic spectrum. Yep, that's not to do with the distance, 511 00:28:31,160 --> 00:28:32,960 Speaker 2: making them appear ready to a ready to own to 512 00:28:33,040 --> 00:28:34,480 Speaker 2: the human eye. Well why don't you say that before? 513 00:28:34,520 --> 00:28:35,760 Speaker 2: When I asked, I. 514 00:28:35,920 --> 00:28:38,520 Speaker 1: Was trying to which wouldn't let me speak? I had 515 00:28:38,520 --> 00:28:42,239 Speaker 1: that same explanation ready to go. But but this planet, right, 516 00:28:42,320 --> 00:28:44,840 Speaker 1: forget the star that it's orbiting. We need to talk 517 00:28:44,840 --> 00:28:49,120 Speaker 1: about the planet itself. Because this planet has in its atmosphere, 518 00:28:49,160 --> 00:28:52,600 Speaker 1: and this was announced this week this week, in its 519 00:28:52,640 --> 00:28:58,760 Speaker 1: atmosphere organic molecules, right, the kind of molecules that are 520 00:28:58,840 --> 00:29:03,200 Speaker 1: found Oh wait a second here on Earth where life 521 00:29:03,240 --> 00:29:06,360 Speaker 1: is right, So that is significant, and they are only 522 00:29:06,480 --> 00:29:10,840 Speaker 1: produced by living organisms. So do you know what this is? 523 00:29:11,200 --> 00:29:15,600 Speaker 1: This is life on another planet. Admittedly the scientists aren't 524 00:29:15,640 --> 00:29:18,520 Speaker 1: yet saying that, but I'm confident that we are saying 525 00:29:18,520 --> 00:29:22,720 Speaker 1: it here. Extra terrestrial life might be one hundred and 526 00:29:22,720 --> 00:29:25,040 Speaker 1: twenty four light years away, but this could be it 527 00:29:25,360 --> 00:29:31,000 Speaker 1: a planet with question teaming with life. 528 00:29:31,080 --> 00:29:33,160 Speaker 2: I have a question for you, Michael. Yes, sorry, yep. 529 00:29:33,600 --> 00:29:35,520 Speaker 2: One hundred and twenty four light years away. 530 00:29:35,400 --> 00:29:36,120 Speaker 1: Yep, yep, yep. 531 00:29:36,800 --> 00:29:39,600 Speaker 2: So how did we get the data if it's one 532 00:29:39,680 --> 00:29:43,960 Speaker 2: hundred and twenty four light years away telescope? Sean, we 533 00:29:44,040 --> 00:29:45,840 Speaker 2: looked at it a big one. 534 00:29:45,880 --> 00:29:48,840 Speaker 1: And admittedly, because we are seeing something that is effectively 535 00:29:48,840 --> 00:29:51,000 Speaker 1: one hundred and twenty four light years ago, you think 536 00:29:51,040 --> 00:29:55,520 Speaker 1: that that planet now could be substantially more advanced. Cambridge 537 00:29:55,600 --> 00:29:59,800 Speaker 1: University scientists say that the most likely scenario here, based 538 00:29:59,840 --> 00:30:02,800 Speaker 1: on the data that they have, is a planet with 539 00:30:02,880 --> 00:30:09,800 Speaker 1: an ocean teeming with life. That is just extraordinary, Sean, 540 00:30:09,880 --> 00:30:16,120 Speaker 1: wins could be life granted. Great story compared to a 541 00:30:16,240 --> 00:30:19,680 Speaker 1: robot whose head fell off, I know, doesn't it right itself? 542 00:30:20,080 --> 00:30:23,000 Speaker 3: It's hilarious. I love it. A running race where one 543 00:30:23,040 --> 00:30:26,320 Speaker 3: of the robots just stops on the starting line and 544 00:30:26,360 --> 00:30:30,640 Speaker 3: one has its headless. Great story, Sean, excellent. 545 00:30:30,840 --> 00:30:33,360 Speaker 2: Okay, let's go on to our favorite story. You want 546 00:30:33,360 --> 00:30:33,800 Speaker 2: to go first? 547 00:30:33,960 --> 00:30:34,240 Speaker 3: Or life? 548 00:30:35,040 --> 00:30:35,280 Speaker 2: Yeah? 549 00:30:35,320 --> 00:30:37,160 Speaker 1: I will go for it. I will. 550 00:30:39,080 --> 00:30:39,880 Speaker 2: A massive week. 551 00:30:40,760 --> 00:30:43,240 Speaker 1: I feel like I used up all of my melodrama 552 00:30:43,360 --> 00:30:46,880 Speaker 1: and my excitement and my passion in talking about life 553 00:30:46,960 --> 00:30:49,200 Speaker 1: on another planet. But I do need to address the 554 00:30:49,200 --> 00:30:51,720 Speaker 1: fact that it's been a massive week for evs as well. 555 00:30:52,360 --> 00:30:54,800 Speaker 1: And I love this story because it just shows kind 556 00:30:54,800 --> 00:30:57,760 Speaker 1: of the electric vehicle industry kind of takes kind of 557 00:30:57,760 --> 00:31:00,160 Speaker 1: two steps forward, one step back, and just apend on 558 00:31:00,200 --> 00:31:02,000 Speaker 1: what week it is. There's good news, there's bad news, 559 00:31:02,000 --> 00:31:03,560 Speaker 1: and this week there was a mix of it, and 560 00:31:03,600 --> 00:31:05,560 Speaker 1: this is one story with three dot points. 561 00:31:05,560 --> 00:31:06,040 Speaker 2: Don't say it. 562 00:31:06,040 --> 00:31:08,440 Speaker 1: It's not no ominous story, Sean. Don't look at me 563 00:31:08,520 --> 00:31:09,280 Speaker 1: with that face. 564 00:31:10,640 --> 00:31:13,040 Speaker 2: I've said nothing, Michael. Yes, you've just said everything I 565 00:31:13,040 --> 00:31:14,360 Speaker 2: wanted to say. You don't need to. 566 00:31:14,720 --> 00:31:19,440 Speaker 1: It is a one cohesive story with three bullet point 567 00:31:19,600 --> 00:31:23,080 Speaker 1: blended bullet points all into one, and one of them, actually, 568 00:31:23,080 --> 00:31:26,440 Speaker 1: Sean mentioned earlier with Tesla's seventy one percent drop in 569 00:31:26,520 --> 00:31:30,920 Speaker 1: first quarter profit obviously more well, I've taken it. I 570 00:31:30,960 --> 00:31:34,200 Speaker 1: don't need you to give it to me. Mask stepping 571 00:31:34,240 --> 00:31:36,080 Speaker 1: back from dods should kind of restore a bit of 572 00:31:36,120 --> 00:31:41,160 Speaker 1: confidence in that hybrids. Hybrids, Adam, let's talk about hybrids 573 00:31:41,200 --> 00:31:44,760 Speaker 1: from hybrids for a moment. Obviously a lot of people 574 00:31:44,760 --> 00:31:48,160 Speaker 1: buying them, selling huge numbers in Australia because obviously EV 575 00:31:48,280 --> 00:31:50,800 Speaker 1: sales have been down, but hybrid sales have been up. 576 00:31:51,760 --> 00:31:55,640 Speaker 1: Fascinating research this week that came out of Theustralian Automobile 577 00:31:55,680 --> 00:31:58,120 Speaker 1: Association that shows that some of them, some of these 578 00:31:58,160 --> 00:32:03,160 Speaker 1: hybrids actually use more fuel than internal combustion engines and 579 00:32:03,240 --> 00:32:06,680 Speaker 1: in one case one actually used twelve percent more fuel 580 00:32:07,000 --> 00:32:08,080 Speaker 1: on Australian roads. 581 00:32:08,560 --> 00:32:09,400 Speaker 2: That's extraordinary. 582 00:32:09,480 --> 00:32:10,560 Speaker 1: Don't shrug, well. 583 00:32:10,560 --> 00:32:13,000 Speaker 3: Two engines, it's going to have two engines instead of one, 584 00:32:13,120 --> 00:32:16,920 Speaker 3: so it's no, it doesn't. 585 00:32:17,280 --> 00:32:18,120 Speaker 1: The whole point of. 586 00:32:18,080 --> 00:32:19,600 Speaker 3: The hybrid electric one. 587 00:32:19,720 --> 00:32:21,360 Speaker 1: No, I'm not arguing that the fact that it has 588 00:32:21,400 --> 00:32:24,040 Speaker 1: have two, but the fact that it's using more fuel 589 00:32:24,840 --> 00:32:28,400 Speaker 1: than just a straight fuel engine. The whole point of 590 00:32:28,400 --> 00:32:31,080 Speaker 1: a hybrid is that should use less because the electric 591 00:32:31,160 --> 00:32:32,680 Speaker 1: side of it's going to take some of the weight 592 00:32:32,760 --> 00:32:33,000 Speaker 1: off it. 593 00:32:33,080 --> 00:32:34,280 Speaker 3: I agree, it's a fail. 594 00:32:36,680 --> 00:32:37,520 Speaker 2: Huge news. 595 00:32:37,560 --> 00:32:41,760 Speaker 1: This is part c of the one story point huge 596 00:32:41,960 --> 00:32:47,600 Speaker 1: news from Chinese battery maker c at l or Cattle. 597 00:32:47,640 --> 00:32:51,720 Speaker 1: We never quite settled. We shouldn't double check that one 598 00:32:51,720 --> 00:32:55,160 Speaker 1: before I started a new EV battery that claims to 599 00:32:55,200 --> 00:33:00,160 Speaker 1: be capable of one thousand kilometers of range from a 600 00:33:00,160 --> 00:33:04,880 Speaker 1: single charge. Separately, you can also do five hundred and 601 00:33:04,960 --> 00:33:08,760 Speaker 1: twenty kilometers of range in just five minutes of charging. Right, 602 00:33:08,880 --> 00:33:11,400 Speaker 1: So there was multiple things that came out of this demonstration. 603 00:33:11,440 --> 00:33:14,640 Speaker 1: That they did one thousand k's of range. Huge, that's 604 00:33:14,720 --> 00:33:19,239 Speaker 1: enough to get you anywhere within one thousand kilometers. You 605 00:33:19,240 --> 00:33:21,800 Speaker 1: can also charge it up in just five minutes and 606 00:33:21,840 --> 00:33:24,240 Speaker 1: get five hundred and twenty ks like that is more 607 00:33:24,320 --> 00:33:27,080 Speaker 1: than what we've seen from Tesla. It's more than what 608 00:33:27,160 --> 00:33:29,560 Speaker 1: we've seen from BYD, which was the big announcement a 609 00:33:29,600 --> 00:33:31,440 Speaker 1: few weeks ago. We thought that was the holy grail. 610 00:33:31,640 --> 00:33:33,120 Speaker 1: This is an even hoier grail. 611 00:33:34,240 --> 00:33:34,440 Speaker 2: Now. 612 00:33:34,480 --> 00:33:39,360 Speaker 1: The fascinating thing is that CTL actually designs batteries for 613 00:33:39,440 --> 00:33:43,000 Speaker 1: Tesla and for Volvo and for other EV companies. What 614 00:33:43,040 --> 00:33:45,600 Speaker 1: it says is you've got BYD with its holy grail 615 00:33:45,640 --> 00:33:47,800 Speaker 1: a few weeks ago. Now you've got this other company 616 00:33:47,880 --> 00:33:52,840 Speaker 1: that makes it for its competitors. Wow. EV competition heating up. 617 00:33:53,200 --> 00:33:56,080 Speaker 2: What a story to the batteries getting charged at that point. 618 00:33:56,160 --> 00:33:58,920 Speaker 2: That's a very good point shot. Not quite stable yet, 619 00:33:58,960 --> 00:33:59,680 Speaker 2: but no, but. 620 00:33:59,680 --> 00:34:01,920 Speaker 1: I mean that again is a very minor detail. 621 00:34:02,040 --> 00:34:05,480 Speaker 2: That's right, What did you like this? That just went 622 00:34:05,480 --> 00:34:07,280 Speaker 2: on forever and ever? Right, I'm going to be a 623 00:34:07,280 --> 00:34:10,440 Speaker 2: really cool one. We had a story this week about 624 00:34:10,440 --> 00:34:13,719 Speaker 2: thirty thousand businesses having a tax debt to fault with 625 00:34:13,760 --> 00:34:17,320 Speaker 2: the at of over one hundred thousand dollars. Maybe you 626 00:34:17,320 --> 00:34:19,600 Speaker 2: wouldn't think that's a great story. I think it is 627 00:34:19,600 --> 00:34:21,560 Speaker 2: a good story because it just shows how tough small 628 00:34:21,600 --> 00:34:23,880 Speaker 2: business is finding it out there, which I like the 629 00:34:23,880 --> 00:34:26,960 Speaker 2: fact that the federal government and the opposition are doing 630 00:34:28,400 --> 00:34:32,520 Speaker 2: jack all sounds like please please, This is a family 631 00:34:32,560 --> 00:34:37,400 Speaker 2: shows for small businesses. I mean both of talking about 632 00:34:37,440 --> 00:34:40,680 Speaker 2: extending the instant right off and the opposition or say 633 00:34:40,680 --> 00:34:44,200 Speaker 2: they'll do it permanently. Permanently, but at the end of 634 00:34:44,239 --> 00:34:46,920 Speaker 2: the day, right, thirty thousand businesses with the tax of 635 00:34:47,280 --> 00:34:50,919 Speaker 2: one hundred thousand or more, they need help. So it's 636 00:34:50,960 --> 00:34:54,120 Speaker 2: my favorite story because it actually in the figures from 637 00:34:54,239 --> 00:34:57,799 Speaker 2: Credit to Watch, it demonstrates how tough it is out 638 00:34:57,840 --> 00:35:02,800 Speaker 2: there for small businesses. And whoever wins on next week, 639 00:35:03,239 --> 00:35:07,400 Speaker 2: whoever you are, helps more business. Yeah, I hover to you, Adam. 640 00:35:08,560 --> 00:35:11,720 Speaker 3: Both of them have elements of competition in the meaning 641 00:35:11,800 --> 00:35:14,239 Speaker 3: that they both really highlight how much we need to 642 00:35:14,239 --> 00:35:17,799 Speaker 3: have the settings right to have competition work well. And 643 00:35:18,239 --> 00:35:21,400 Speaker 3: Seawan those numbers are incredibly distressing. Thirty thousand business as 644 00:35:21,480 --> 00:35:23,400 Speaker 3: you imagine that debt, not just that it exists, but 645 00:35:23,480 --> 00:35:27,960 Speaker 3: how people feel carrying it. It is I imagine crippling 646 00:35:28,400 --> 00:35:31,000 Speaker 3: for them and their businesses, and settings do need to 647 00:35:31,000 --> 00:35:35,200 Speaker 3: be changed. I think though Michael has to win this one. 648 00:35:35,880 --> 00:35:37,960 Speaker 3: Two points one which you made one I think I 649 00:35:38,000 --> 00:35:43,360 Speaker 3: would suggest as and an addition one is you know 650 00:35:43,480 --> 00:35:46,600 Speaker 3: the fact that this market for hybrids and evs is 651 00:35:46,600 --> 00:35:51,960 Speaker 3: moving so rapidly, but this technology is so locked in China. 652 00:35:52,480 --> 00:35:54,520 Speaker 3: It's not happening in other places in the world. This 653 00:35:54,560 --> 00:35:59,080 Speaker 3: isn't American technology pushing this forward. This is two Chinese 654 00:35:59,080 --> 00:36:00,640 Speaker 3: companies byd c AT. 655 00:36:00,800 --> 00:36:01,520 Speaker 2: Give your mind. 656 00:36:01,560 --> 00:36:03,560 Speaker 1: You were thinking of this, Oh yeah, I thought I 657 00:36:03,600 --> 00:36:06,000 Speaker 1: actually said it. I must must have just accidentally left 658 00:36:06,000 --> 00:36:06,279 Speaker 1: it out. 659 00:36:06,840 --> 00:36:07,520 Speaker 2: This just happened. 660 00:36:07,560 --> 00:36:11,279 Speaker 3: But that China is again proving itself to be a 661 00:36:11,400 --> 00:36:15,359 Speaker 3: force in the world economy, and so I just think 662 00:36:15,400 --> 00:36:18,480 Speaker 3: that's an incredible story. So my favorite just has to 663 00:36:18,560 --> 00:36:20,040 Speaker 3: be the ev story. 664 00:36:20,520 --> 00:36:23,480 Speaker 1: So what we have here is the Washington General's currently 665 00:36:23,520 --> 00:36:29,360 Speaker 1: tied with the Harlem Globetrotters. Can they pull off that rare, rare, 666 00:36:30,520 --> 00:36:31,360 Speaker 1: rare victory? 667 00:36:31,880 --> 00:36:33,439 Speaker 2: Have you won the last two? No? 668 00:36:33,840 --> 00:36:36,680 Speaker 1: I have not won for several weeks. Had I had 669 00:36:36,719 --> 00:36:38,160 Speaker 1: a streak last month? 670 00:36:38,760 --> 00:36:39,520 Speaker 2: Two? Yeah? 671 00:36:40,160 --> 00:36:40,680 Speaker 1: Two wins? 672 00:36:40,680 --> 00:36:41,000 Speaker 3: Streak? 673 00:36:41,160 --> 00:36:43,920 Speaker 1: What have you got here, Adam? Have I done it today? 674 00:36:44,040 --> 00:36:45,120 Speaker 1: Give us it so it's too old? 675 00:36:45,120 --> 00:36:47,040 Speaker 3: Give us so two? 676 00:36:47,120 --> 00:36:47,239 Speaker 2: All? 677 00:36:47,400 --> 00:36:52,080 Speaker 3: Is the story count? Sean eighty seven points, Michael eighty 678 00:36:52,200 --> 00:36:53,080 Speaker 3: eight points. 679 00:36:55,560 --> 00:36:59,799 Speaker 2: Glorious, although although the shean thing, I think this will 680 00:36:59,800 --> 00:37:01,040 Speaker 2: all have an asterisk on it. 681 00:37:03,200 --> 00:37:05,920 Speaker 1: So your generosity in allowing me to have that story 682 00:37:05,920 --> 00:37:07,240 Speaker 1: actually had an ulterior motive. 683 00:37:07,400 --> 00:37:10,000 Speaker 2: Yeah, there'd been some codes. I'm thinking you think Rugby League, 684 00:37:10,080 --> 00:37:15,680 Speaker 2: the NRL when salary campis Yes, there's always been just 685 00:37:15,719 --> 00:37:18,399 Speaker 2: an asterix on those Melbourne storm win. 686 00:37:18,560 --> 00:37:21,120 Speaker 1: Just to be clear, though, this was a legitimate victory 687 00:37:21,120 --> 00:37:21,680 Speaker 1: that I just had. 688 00:37:21,760 --> 00:37:24,359 Speaker 2: Yes, Yes, yes, Michael totally. Eighty eight to eighty seven 689 00:37:24,400 --> 00:37:29,520 Speaker 2: to too Absolutely a clear cut ladslide to Michael, Tom J. Thompson. 690 00:37:30,040 --> 00:37:36,280 Speaker 1: My eyebrow is actually twitching with injustice. Thank you, Sean, 691 00:37:36,440 --> 00:37:38,800 Speaker 1: Thank you Michael, and thank you Adam. 692 00:37:39,040 --> 00:37:40,240 Speaker 3: Thank you Michael, Thank you Sean. 693 00:37:40,719 --> 00:37:42,840 Speaker 1: Make sure you're following the podcast and please join us 694 00:37:42,880 --> 00:37:45,920 Speaker 1: online on LinkedIn, Instagram, TikTok, Facebook, and X. 695 00:37:46,080 --> 00:37:46,880 Speaker 2: I'm Michael Thompson. 696 00:37:46,880 --> 00:37:49,000 Speaker 1: And that was fear and greed. Have a great weekend.