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Speaker 1: This is what the flucks time and I'm justin and

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Speaker 1: it's Monday, the sixteenth of March.

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Speaker 2: Does it's a new week, which is good for the ASSEX.

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Speaker 2: Last week the AX fel two point six percent, and

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Speaker 2: since the conflict in the Middle East started on fare

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Speaker 2: but twenty eight, the ASX benchmark has fallen six point

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Speaker 2: three percent, or about one hundred ninety billion dollars. A

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Speaker 2: new week means potentially fresh start, positive thinking, positive thinking.

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Speaker 1: The positive, the old things. Every single month, money comes

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Speaker 1: into your account, money goes out of your account, and

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Speaker 1: for sixty six percent of Australians they don't even know

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Speaker 1: where their money is going. That's why we created the

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Speaker 1: Flux Budgeting Call, which helps you track all of your

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Speaker 1: expenses and your income in the one place you can

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Speaker 1: stay on top of your money and make great financial decisions.

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Speaker 1: So if you want to learn more about where your

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Speaker 1: money's going, make sure its download the Flux app and

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Speaker 1: check it out.

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Speaker 2: Three sensational stories today Juzzy Boy, let's do it for

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Speaker 2: our first. Quantus will pay one hundred and five million

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Speaker 2: bucks to settle a class action over delayed COVID flight

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Speaker 2: red Fund as it tries to move on from the

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Speaker 2: major reputational hit man.

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Speaker 1: The Big Q still hasn't overcome those twenty twenty miss apps,

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Speaker 1: So tell.

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Speaker 2: Me a little bit more, all right. So Quantus is

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Speaker 2: obviously Australia's national airline and flies more than fifty million

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Speaker 2: passengers each year.

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Speaker 1: And we're going to take me back to twenty twenty

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Speaker 1: when COVID.

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Speaker 2: Struck radio well I recall people were fighting over toilet

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Speaker 2: paper roles in the supermarket and.

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Speaker 1: Long life milk became one of the hottest commodities in

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Speaker 1: the whole wide world. And at the same time, countries

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Speaker 1: shut their borders, so most international travel was canceled.

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Speaker 2: And so Quantus canceled roughly two billion dollars worth of flights.

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Speaker 1: But instead of refunding customers, Quantus issued flight credits instead,

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Speaker 1: which often didn't cover the cost of rebooking.

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Speaker 2: The backlash was so bad that quantuss then CEO stepped

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Speaker 2: down earlier than planned, as well as Quantus's chair and

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Speaker 2: they man.

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Speaker 1: A class action lawsuit was run against Quantus to compensate

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Speaker 1: thousands of customers who had to wait up to three

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Speaker 1: years for a refund, and now.

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Speaker 2: As part of this class action, Quantus has agreed to

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Speaker 2: pay one hundred and five million bucks in compensation to

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Speaker 2: those customers.

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Speaker 1: That is right, hundreds of thousands of Quantus passengers are

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Speaker 1: expected to rec payouts.

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Speaker 2: All right, how much are we talking?

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Speaker 1: Some will receive hundreds of dollars while others will get

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Speaker 1: some more depending on how long they had to wait

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Speaker 1: for their refunds.

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Speaker 2: Crazy, So what's the key learning here?

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Speaker 1: A class action is a legal case where a large

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Speaker 1: group of people who have suffered similar harm joined together

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Speaker 1: to see a company together.

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Speaker 2: Instead of thousands of individuals launching separate lawsuits, the group

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Speaker 2: is represented in one combined case and jozeboait for companies.

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Speaker 2: Class actions can be extremely expensive.

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Speaker 1: Yeah, not just because of the potential compensation payouts, but

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Speaker 1: also the legal fees, the reputational damage, and don't forget

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Speaker 1: the management time spent dealing with litigation. That's why many

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Speaker 1: businesses choose to settle class actions without admitting liability, like

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Speaker 1: Quantus is done here.

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Speaker 2: And joseboit Qantas is not the first Australian company to

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Speaker 2: settle a class action without admitting liability. No no, no,

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Speaker 2: remember amp after the Royal Commission into Banking in twenty eighteen, yep,

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Speaker 2: they settled a shareholder class action for one hundred and

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Speaker 2: twenty million bucks to be man for Quantas.

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Speaker 1: This settlement helps them avoid years of court battles. They

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Speaker 1: can move on and focus on what they do best.

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Speaker 1: For our second story, McDonald's CEO went viral for awkwardly

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Speaker 1: eating a burger, and somehow it boosted sales of the

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Speaker 1: burger he was eating. Just give me the burger. I

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Speaker 1: will eat it properly for you, I promise. So tell

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Speaker 1: me what's going on here.

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Speaker 2: So McDonald's aka macki d aka Macs is the world's

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Speaker 2: largest fast food chain. In fact, McDonald serves around sixty

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Speaker 2: nine million customers a day across more than one hundred countries.

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Speaker 2: Sixty nine million customers eating fries and nuggies, Big Macs

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Speaker 2: and those weird apple pie things that juzzy boy just

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Speaker 2: absolutely loves.

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Speaker 1: Man for some context for you, the Maca CEO, Chris kemcinski,

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Speaker 1: has been building a social media presence for years to

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Speaker 1: promote new products and make Big Maca's announcements.

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Speaker 2: And in early February, the Macaco posted on LinkedIn a

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Speaker 2: video of himself taste testing a new menu item called

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Speaker 2: the Big Arch Burger and.

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Speaker 1: After announcing the burger, he took a small bite, like

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Speaker 1: a tiny bite of the burger, and he described the

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Speaker 1: burger as a product in a very corporate tone.

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Speaker 2: And you better believe the incident did not let him

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Speaker 2: get away with this one.

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Speaker 1: Nope, Users on all social media platforms started mocking his

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Speaker 1: stiff presentation and turned it into a meme executives who

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Speaker 1: look like they've never eaten their own products.

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Speaker 2: Then Burger King and Wendy's piled in, posting their own

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Speaker 2: parody videos of CEOs eating burgers and really embracing that joke.

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Speaker 2: Next minute, the campaign generated almost six billion impressions in

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Speaker 2: a single day.

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Speaker 1: And early sales of the burger are reportedly beating expectations.

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Speaker 2: So macers ended up newsjacking its own story.

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Speaker 1: Interesting, So what is the key learning here?

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Speaker 2: News Jacking is when a company jumps into a trending

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Speaker 2: news story or a viral moment and inserts its own

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Speaker 2: brand into the conversation. Instead of spending millions creating attention,

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Speaker 2: you ride the wave of attention that already exists. In

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Speaker 2: this case, Once the McDonald's burger video started circulating online,

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Speaker 2: Burger King and Wendy's quickly posted parody videos.

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Speaker 1: And it worked. Burger King appeared in sixty eight percent

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Speaker 1: of the online discussion about the video. But rather than

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Speaker 1: trying to shut down the jokes or distance itself from

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Speaker 1: the awkward video, makers really leaned in and it turned

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Speaker 1: a train wreck of a video into something pretty valuable

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Speaker 1: for themselves.

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Speaker 2: So McDonald's news jacked its own news story and.

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Speaker 1: It turned into billions of impressions and a spiky product

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Speaker 1: awareness too.

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Speaker 2: So Josey Way, sometimes the Internet laughs at you, and

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Speaker 2: that can still be a very good thing for business.

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Speaker 1: For our third and final story, bumble share price has

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Speaker 1: jumped more than thirty percent after its latest results beat expectations,

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Speaker 1: even though it's revenue numbers and users are still sliding investors.

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Speaker 2: Are they finally swiping right again? Tell me more? Juzzy boy? Okay?

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Speaker 1: So, Bumble's the online dating app that launched back in

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Speaker 1: twenty fourteen.

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Speaker 2: It was launched by one of the former co founders

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Speaker 2: of Tinder as a new competitor where women make the

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Speaker 2: first move.

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Speaker 1: And when Bubble listed on the Nazdak in twenty twenty one,

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Speaker 1: the founder became the youngest self made female billionaire at

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Speaker 1: the time. The joyboy As gen z and millennials get

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Speaker 1: online dating fatigue, Bumble has seen its share price fall

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Speaker 1: more than ninety percent. Wow, but last week bumble share

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Speaker 1: price actually jumped more than thirty percent after its latest results.

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Speaker 2: Well, okay, was its revenue up Nope?

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Speaker 1: Down five percent?

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Speaker 2: All right, we're paying users up?

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Speaker 1: Nope, down nearly ten percent.

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Speaker 2: Okay, what is good here then? Jusy boy?

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Speaker 1: Well it's adjusted Iberdar hit nearly ninety five million dollars

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Speaker 1: for the quart art, which smashed investor expectations. So what

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Speaker 1: is the key learning here?

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Speaker 2: Somebody doesn't need more customers to make more money. Sometimes

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Speaker 2: it just needs fewer costs.

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Speaker 1: A first glance man, Bumble's results look pretty concerning, But.

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Speaker 2: We know that profitability isn't just about how much money

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Speaker 2: comes in. It's also very much about how much money

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Speaker 2: goes out. Yeah.

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Speaker 1: In Bubble's case, they've been cutting down heavily on marketing

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Speaker 1: and other operating costs while focusing on generating more revenue

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Speaker 1: from the users it still has. For example, it's average

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Speaker 1: revenue per paying user increased by about seven point nine

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Speaker 1: percent in the last quarter. On top of this, Bumble

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Speaker 1: significantly reduced performance marketing spending yeah, some say their performance

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Speaker 1: marketing costs drop more than eighty percent year.

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Speaker 2: Own year, So even though the overall user base shrank,

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Speaker 2: it managed to become more efficient as a business.

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Speaker 1: Flock dam. If you want to know if you're spending

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Speaker 1: a lot of money on clothing, on food, on petrol,

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Speaker 1: we inhabit all covered in the Flux budgeting tool, where

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Speaker 1: all your expenses get categorized into the different areas of

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Speaker 1: where you're spending, so that if you want to understand

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Speaker 1: a little bit more about your spending, make sure to

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Speaker 1: download the Flux app and check out our budgeting tool.

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Speaker 2: Thanks for listening and we'll see you on Wednesday.