1 00:00:06,120 --> 00:00:08,760 Speaker 1: This is the weekend edition of Fear and Greed business 2 00:00:08,800 --> 00:00:11,559 Speaker 1: news you can use. I'm Michael Thompson and good morning 3 00:00:11,600 --> 00:00:15,600 Speaker 1: Sean Hailma, Good morning Michael, Sean. Our weekend show. It's 4 00:00:15,640 --> 00:00:17,200 Speaker 1: all about the two of us, each nominating what we 5 00:00:17,239 --> 00:00:19,840 Speaker 1: think is the biggest business story of the week, the 6 00:00:19,840 --> 00:00:24,040 Speaker 1: most remarkable story, a mystery category that we change every week, 7 00:00:24,160 --> 00:00:27,560 Speaker 1: and our favorite business related story. And every week we 8 00:00:27,640 --> 00:00:30,880 Speaker 1: are joined by a judge to pick a winner, because 9 00:00:30,920 --> 00:00:33,760 Speaker 1: this is a competition, of course, and that judges our 10 00:00:33,800 --> 00:00:36,720 Speaker 1: Fear and Greed colleague Adam Lang Adam, good morning. 11 00:00:36,840 --> 00:00:38,920 Speaker 2: Good morning Michael, and good morning Sean. 12 00:00:39,320 --> 00:00:42,680 Speaker 3: Hello Adam, great to be back. I've got to know, 13 00:00:43,560 --> 00:00:46,000 Speaker 3: how I mean, while I was a way, how did you, 14 00:00:46,080 --> 00:00:47,440 Speaker 3: Michael perform. 15 00:00:47,640 --> 00:00:50,880 Speaker 2: Well, adequately but less spectacular? 16 00:00:51,159 --> 00:00:55,760 Speaker 3: I faint praise. Yeah, without you, I bet he was 17 00:00:55,800 --> 00:00:56,600 Speaker 3: better behaved. 18 00:00:57,160 --> 00:00:58,960 Speaker 2: No, I don't think so. 19 00:00:59,000 --> 00:01:01,800 Speaker 1: I can't change my personality just based on who I'm 20 00:01:01,800 --> 00:01:04,880 Speaker 1: competing against. There's always going to be an element of melodrama. 21 00:01:04,920 --> 00:01:07,320 Speaker 1: And in fact, I would say that Natalie brought a 22 00:01:07,360 --> 00:01:11,720 Speaker 1: significant amount of theater to the show. And can I 23 00:01:11,760 --> 00:01:17,360 Speaker 1: ask you, Michael, how was Adam's judging subpar? Yeah, if 24 00:01:17,400 --> 00:01:24,679 Speaker 1: I'm honest, up to its normal sta status quo. Yeah, okay, So, Adam, 25 00:01:24,760 --> 00:01:26,440 Speaker 1: now that we've got that out of the way early 26 00:01:26,720 --> 00:01:29,720 Speaker 1: the early sledging, because there has been a lot of 27 00:01:29,720 --> 00:01:32,080 Speaker 1: melodrama over the last few weeks, can I assume that 28 00:01:32,240 --> 00:01:34,280 Speaker 1: is a criteria that you are looking for today and 29 00:01:34,319 --> 00:01:36,839 Speaker 1: that it is in fact the most significant criteria. 30 00:01:37,480 --> 00:01:41,600 Speaker 4: No economic impact is the number one criteria. Topicality and 31 00:01:41,680 --> 00:01:45,000 Speaker 4: timeliness of course, and then we do want some melodrama, 32 00:01:45,240 --> 00:01:46,440 Speaker 4: but please play. 33 00:01:46,200 --> 00:01:48,240 Speaker 2: To my subjective bias if you could. 34 00:01:48,880 --> 00:01:51,600 Speaker 1: Okay, all of those things are fairly consistent with what 35 00:01:51,680 --> 00:01:55,120 Speaker 1: you have asked for and disregarded in the past. So 36 00:01:55,200 --> 00:01:59,000 Speaker 1: let's go. We are looking for the biggest business story 37 00:01:59,040 --> 00:02:01,440 Speaker 1: of the week, and of course, Sean, you'll go first 38 00:02:01,480 --> 00:02:03,400 Speaker 1: on this one. But before we do, we'll acknowledge that 39 00:02:03,440 --> 00:02:05,640 Speaker 1: there is a story that has happened this week that 40 00:02:05,680 --> 00:02:08,200 Speaker 1: we're not going to be discussing here. It is the 41 00:02:08,240 --> 00:02:11,200 Speaker 1: assassination of Charlie Kirk in the US. It doesn't have 42 00:02:11,240 --> 00:02:15,200 Speaker 1: a place in a competition out of respect, and we'd 43 00:02:15,240 --> 00:02:18,239 Speaker 1: thought we'll acknowledge it here. And Sean, if you would 44 00:02:18,280 --> 00:02:19,920 Speaker 1: like to nominate a business story. 45 00:02:20,320 --> 00:02:24,120 Speaker 3: Please take it away, Okay, biggest story of the week. 46 00:02:24,520 --> 00:02:27,880 Speaker 3: What a week. It was a big week for the banks. 47 00:02:28,360 --> 00:02:32,840 Speaker 3: They're starting finally to eat into their cost bases. Aine 48 00:02:32,880 --> 00:02:35,560 Speaker 3: Zed National Australian Bank and Adelaide and Bendigo Bank all 49 00:02:35,600 --> 00:02:38,880 Speaker 3: announced job cuts this week. The big one one was 50 00:02:38,919 --> 00:02:40,840 Speaker 3: at A and Z. It will cut three and a 51 00:02:40,880 --> 00:02:43,920 Speaker 3: half thousand jobs by September next year. It's going to 52 00:02:43,960 --> 00:02:47,560 Speaker 3: cut its use of consultants. New chief executive, you know, Martos, 53 00:02:47,880 --> 00:02:50,840 Speaker 3: hopes turn to turn around the country's fourth largest bank. 54 00:02:51,240 --> 00:02:54,040 Speaker 3: He said the eight percent cut to the bank's workforce 55 00:02:54,160 --> 00:02:57,800 Speaker 3: was a very tough decision, but he just needs to simplify. 56 00:02:58,000 --> 00:03:00,720 Speaker 3: Ain Ed National Australia Bank will cut one hundred jobs 57 00:03:00,760 --> 00:03:03,239 Speaker 3: from its technology department. Some of those jobs will be 58 00:03:03,240 --> 00:03:06,239 Speaker 3: outsourced over seas. Bendigo and Adelaide Bank will also cut 59 00:03:06,240 --> 00:03:08,679 Speaker 3: a bunch of jobs, more than one hundred jobs going there. 60 00:03:09,360 --> 00:03:11,880 Speaker 3: It's really D day for the banks, D week for 61 00:03:11,960 --> 00:03:15,560 Speaker 3: the banks, Adam something like that. Anyway. Competition in the 62 00:03:15,600 --> 00:03:20,120 Speaker 3: home and business lending markets is ferocious. The posit market 63 00:03:20,160 --> 00:03:23,320 Speaker 3: competition right now is hotter than it's been for years. 64 00:03:23,360 --> 00:03:25,680 Speaker 3: We've also got the rise of private credit going on, 65 00:03:26,040 --> 00:03:29,920 Speaker 3: so that's a big competitor to the banks. Improving the 66 00:03:29,960 --> 00:03:33,280 Speaker 3: bottom line is much much harder now. One way to 67 00:03:33,320 --> 00:03:36,840 Speaker 3: do it, at least in the short term is cut costs. Adam, 68 00:03:37,000 --> 00:03:39,840 Speaker 3: you're part of the Fairfax network. You understand that. I 69 00:03:39,880 --> 00:03:41,960 Speaker 3: certainly do. 70 00:03:42,080 --> 00:03:43,000 Speaker 1: I feel it. Sean. 71 00:03:44,960 --> 00:03:47,640 Speaker 3: Look, investors, when we've talked about the big switch from 72 00:03:47,680 --> 00:03:50,160 Speaker 3: the banks to resources, part of the issue is that 73 00:03:50,240 --> 00:03:54,120 Speaker 3: banks are expensive for investors. They need to find ways 74 00:03:54,480 --> 00:04:00,000 Speaker 3: to meet profit expectations. So we are now seeing big 75 00:04:00,080 --> 00:04:04,640 Speaker 3: job losses in the banking and finance sector. I think 76 00:04:04,680 --> 00:04:08,400 Speaker 3: we look back on this week even I'm trying hard 77 00:04:08,520 --> 00:04:09,880 Speaker 3: to hold my face when I say. 78 00:04:09,720 --> 00:04:11,920 Speaker 1: This one that's the biggest week for the banks. 79 00:04:12,040 --> 00:04:14,840 Speaker 3: Maybe not, but look, just the fact that we had 80 00:04:14,840 --> 00:04:19,359 Speaker 3: the big job cut announcement really really significant issue for 81 00:04:19,600 --> 00:04:22,960 Speaker 3: the biggest part of our market. So when comes to 82 00:04:23,000 --> 00:04:26,560 Speaker 3: economics investing, it's through a bit of melo drama in there, 83 00:04:26,600 --> 00:04:29,599 Speaker 3: which I couldn't hold but I try. It's all there. 84 00:04:29,880 --> 00:04:31,080 Speaker 3: I'm ticking the boxes. 85 00:04:33,400 --> 00:04:36,200 Speaker 1: The commitment wasn't there though, Sean, Like, if you've really 86 00:04:36,240 --> 00:04:38,400 Speaker 1: stuck with the melodrama, you would have nailed that. 87 00:04:38,680 --> 00:04:41,680 Speaker 3: I'm passionate about this. I mean, apart from Copper, it's 88 00:04:41,720 --> 00:04:43,839 Speaker 3: about as passionate as anything I could be on this 89 00:04:43,880 --> 00:04:47,520 Speaker 3: show this week. Oh it's not bad or Bond bad 90 00:04:47,880 --> 00:04:49,200 Speaker 3: or Bonds. Good point. 91 00:04:49,279 --> 00:04:53,160 Speaker 1: My story for the my nomination for the biggest story 92 00:04:53,200 --> 00:04:57,320 Speaker 1: of the week is there's a couple of household names. 93 00:04:57,440 --> 00:05:02,280 Speaker 1: It is Cold and Woolworth's, those humble grocery giants. He's 94 00:05:02,360 --> 00:05:05,279 Speaker 1: already started to yawn, Adam, can you penalize him. 95 00:05:05,160 --> 00:05:06,400 Speaker 3: For Adam yawning? 96 00:05:06,480 --> 00:05:06,760 Speaker 1: Not me? 97 00:05:07,200 --> 00:05:08,799 Speaker 3: I was following her from Adam's yawn. 98 00:05:09,680 --> 00:05:10,479 Speaker 2: I was laughing. 99 00:05:10,720 --> 00:05:14,080 Speaker 1: It was the yawn. Coles and Woolworths could be on 100 00:05:14,120 --> 00:05:17,720 Speaker 1: the hook for up to a billion dollars in back 101 00:05:17,800 --> 00:05:21,440 Speaker 1: pay and related other fees, on top of the half 102 00:05:21,480 --> 00:05:25,200 Speaker 1: a billion dollars that they've already shelled out. This is huge, 103 00:05:25,240 --> 00:05:29,839 Speaker 1: This is significantly huge. The federal court has ruled that 104 00:05:29,880 --> 00:05:32,719 Speaker 1: they're kind of it all balances out in the end. 105 00:05:32,800 --> 00:05:36,240 Speaker 1: Approach to paying essentially managers just doesn't cut it. They 106 00:05:36,279 --> 00:05:39,400 Speaker 1: are paid essentially above the award to offset any overtime 107 00:05:39,440 --> 00:05:41,200 Speaker 1: that they might do across the course of the year, 108 00:05:41,200 --> 00:05:44,880 Speaker 1: particularly through busy periods. Coles reckons it Owes another two 109 00:05:44,920 --> 00:05:47,240 Speaker 1: hundred and fifty million dollars woolies as much as five 110 00:05:47,320 --> 00:05:50,400 Speaker 1: hundred million dollars more with interest, et cetera. All added in, 111 00:05:50,440 --> 00:05:56,560 Speaker 1: there is a there's a massive, massive, massive numbers, but but. 112 00:05:58,400 --> 00:05:59,160 Speaker 3: More one more. 113 00:05:59,560 --> 00:06:04,520 Speaker 1: But it is not just about the money. This is 114 00:06:04,560 --> 00:06:11,799 Speaker 1: about the desperate, dire need for reform because retail retail 115 00:06:12,440 --> 00:06:16,799 Speaker 1: has close to one being the judge, thousand, one thousand 116 00:06:17,120 --> 00:06:23,040 Speaker 1: different pay rates. Good Lord, this is a system so messy. 117 00:06:23,240 --> 00:06:25,600 Speaker 2: And invoking of God. 118 00:06:24,960 --> 00:06:30,000 Speaker 1: That even the two biggest supermarkets in the country can't 119 00:06:30,200 --> 00:06:35,000 Speaker 1: get it right. So yes, Ringo Star, there will be 120 00:06:35,080 --> 00:06:38,479 Speaker 1: a number of supermarket workers that will the market that 121 00:06:38,600 --> 00:06:41,560 Speaker 1: might get a payday out of this. But I ask 122 00:06:41,640 --> 00:06:44,120 Speaker 1: you both, and in particular I ask Adam, because I 123 00:06:44,120 --> 00:06:47,520 Speaker 1: don't care what you think, Sean. If Cole's and Woolli's 124 00:06:47,920 --> 00:06:53,480 Speaker 1: can't navigate this labyrinth, what chance does anybody else have? 125 00:06:53,680 --> 00:06:57,000 Speaker 1: The tens of thousands, the hundreds of thousands, maybe in 126 00:06:57,120 --> 00:07:01,160 Speaker 1: overreach of smaller retailers. This is not this court judgment, 127 00:07:01,200 --> 00:07:04,040 Speaker 1: this decision in the federal court is not workplace justice. 128 00:07:04,200 --> 00:07:09,280 Speaker 1: This this is retail chaos. I rest my case. 129 00:07:12,560 --> 00:07:14,040 Speaker 3: I was going to say something, but it's actually a 130 00:07:14,080 --> 00:07:17,240 Speaker 3: total insult to you, Michael, and I don't, but you 131 00:07:17,360 --> 00:07:18,960 Speaker 3: did overread that nicely. 132 00:07:19,000 --> 00:07:19,480 Speaker 2: All right. 133 00:07:19,800 --> 00:07:22,920 Speaker 4: So Michael, if you held your little pinky finger to 134 00:07:22,960 --> 00:07:25,920 Speaker 4: your mouth and when you said the one billion dollars 135 00:07:25,960 --> 00:07:28,800 Speaker 4: like doctor Eavil, then you would have won. 136 00:07:29,720 --> 00:07:30,560 Speaker 2: But you didn't. 137 00:07:32,080 --> 00:07:34,280 Speaker 1: So you're saying, essentially I lost because of a lack 138 00:07:34,320 --> 00:07:35,040 Speaker 1: of melodrama. 139 00:07:35,240 --> 00:07:39,080 Speaker 4: Yeah, exactly, what should be your strong suit. You failed, 140 00:07:39,360 --> 00:07:47,200 Speaker 4: and so I'm just so disappointed an opportunity missed. I 141 00:07:47,640 --> 00:07:50,080 Speaker 4: think that the story in the AI and the banks, 142 00:07:50,200 --> 00:07:52,360 Speaker 4: they are part of our biggest top ten of the 143 00:07:52,360 --> 00:07:56,440 Speaker 4: AX and so those impacts I think so many people 144 00:07:56,480 --> 00:07:59,800 Speaker 4: feel the thousands of jobs. I think it's actually these 145 00:08:00,320 --> 00:08:02,640 Speaker 4: of the week. So Seawan, you win, welcome back. 146 00:08:02,800 --> 00:08:05,280 Speaker 3: Thank you very much. I apprecay that Tim Burrows he'd 147 00:08:05,280 --> 00:08:07,160 Speaker 3: be very proud, because Tim Burrows likes the idea that 148 00:08:07,520 --> 00:08:09,960 Speaker 3: he likes a story that actually happened, as opposed to 149 00:08:10,120 --> 00:08:12,480 Speaker 3: could happen. And I was counting a number of times 150 00:08:12,480 --> 00:08:14,760 Speaker 3: Michael said could just in case he went down his side, 151 00:08:15,520 --> 00:08:16,920 Speaker 3: And anyway. 152 00:08:16,920 --> 00:08:20,520 Speaker 1: I will never concede defeat. I won in my head, 153 00:08:20,960 --> 00:08:23,040 Speaker 1: one nil wins. 154 00:08:23,400 --> 00:08:26,800 Speaker 3: Let's thank you, Adam let's move on to the most 155 00:08:26,960 --> 00:08:28,280 Speaker 3: remarkable story. 156 00:08:28,920 --> 00:08:31,440 Speaker 1: So I reckon a year kick off there, all right, 157 00:08:31,520 --> 00:08:36,240 Speaker 1: Murdock's the Murdocks succession war is over. The winner essentially 158 00:08:36,360 --> 00:08:38,640 Speaker 1: Lachlan Murdock. This is a case and I love. The 159 00:08:38,679 --> 00:08:40,480 Speaker 1: reason I love this story so much is because it 160 00:08:40,800 --> 00:08:44,240 Speaker 1: is a case of art imitating life and then imitating 161 00:08:44,360 --> 00:08:47,280 Speaker 1: art once again. It is very circular, right, and we'll 162 00:08:47,280 --> 00:08:48,760 Speaker 1: get to that in a second. But it was reportedly 163 00:08:48,760 --> 00:08:49,840 Speaker 1: a five billion dollar deal. 164 00:08:50,840 --> 00:08:52,040 Speaker 3: Let your arguments go on. 165 00:08:54,920 --> 00:08:58,000 Speaker 1: You know what, It's been a very respectful place here 166 00:08:58,080 --> 00:09:08,520 Speaker 1: the last four weeks. I miss I miss Natalie. This 167 00:09:08,760 --> 00:09:12,719 Speaker 1: was reportedly a five billion dollar deal with Rupert and 168 00:09:12,800 --> 00:09:16,240 Speaker 1: Lachlan Murdock effectively buying out the other siblings, cementing Lachlan's 169 00:09:16,240 --> 00:09:20,360 Speaker 1: control over News. Corbyn, Fox, Prudence, Elizabeth James all walk 170 00:09:20,400 --> 00:09:23,000 Speaker 1: away with more than a billion dollars each. Lachland will 171 00:09:23,080 --> 00:09:26,000 Speaker 1: run the empire. And what an empire? Right, Wall Street Journal, 172 00:09:26,040 --> 00:09:29,040 Speaker 1: The Times, Harpercollin's Area, Fox, the Lot. There's a lot 173 00:09:29,080 --> 00:09:32,280 Speaker 1: in this, so much, so much. The Murdoch family trust 174 00:09:32,480 --> 00:09:35,920 Speaker 1: is gone, replaced by new structures that give Lachlan the power. 175 00:09:36,320 --> 00:09:40,520 Speaker 1: It is remarkable Adam, write this down because anything the 176 00:09:40,600 --> 00:09:44,920 Speaker 1: Murdoch family does is remarkable. What Rupert Murdoch has built 177 00:09:45,320 --> 00:09:48,560 Speaker 1: is remarkable, and it is remarkable the length that he 178 00:09:48,600 --> 00:09:51,760 Speaker 1: has had to go to to ensure the conservative approach 179 00:09:51,800 --> 00:09:54,840 Speaker 1: of the media empire continues once he's gone, because he 180 00:09:54,880 --> 00:09:58,040 Speaker 1: has identified it as the key to the ongoing success 181 00:09:58,120 --> 00:10:01,439 Speaker 1: of the business. Right, you didn't write a single thing 182 00:10:01,480 --> 00:10:02,920 Speaker 1: down just then as I was talking, and. 183 00:10:02,840 --> 00:10:06,040 Speaker 2: I did write one word succession. 184 00:10:06,120 --> 00:10:09,000 Speaker 1: As in the TV show. Yeah, yeah, okay, cool, because 185 00:10:09,000 --> 00:10:10,920 Speaker 1: this is this is the thing, right, this is why 186 00:10:10,960 --> 00:10:13,680 Speaker 1: this is so cool. Because the TV show Succession was 187 00:10:13,760 --> 00:10:18,760 Speaker 1: obviously understood to be the inspiration or to be inspired 188 00:10:18,840 --> 00:10:21,760 Speaker 1: by the Murdoch family. And then The New York Times 189 00:10:21,800 --> 00:10:26,200 Speaker 1: reported that one particular episode of Succession actually inspired three 190 00:10:26,240 --> 00:10:28,360 Speaker 1: of the Murdoch's siblings to come together to plan what 191 00:10:28,360 --> 00:10:31,160 Speaker 1: would happen in the event of their father's death, leading 192 00:10:31,200 --> 00:10:33,760 Speaker 1: to the drafting of a document that was then known 193 00:10:33,920 --> 00:10:38,360 Speaker 1: as the Succession Memo. Which is just extraordinary, Right, is 194 00:10:38,760 --> 00:10:41,600 Speaker 1: where I get to this, This this circular nature of 195 00:10:41,760 --> 00:10:45,320 Speaker 1: art and life imitating and inspiring each other. It is 196 00:10:45,360 --> 00:10:49,680 Speaker 1: all very extraordinary, all very remarkable. But now it is done, 197 00:10:49,880 --> 00:10:54,560 Speaker 1: and the future of the remarkable Murdoch Empire is now 198 00:10:54,920 --> 00:10:56,160 Speaker 1: largely secure. 199 00:10:57,360 --> 00:11:01,760 Speaker 3: Sean, Right, So can I add to Michael's story, because 200 00:11:01,760 --> 00:11:04,679 Speaker 3: I mean the future was always secure. What I think 201 00:11:04,760 --> 00:11:06,520 Speaker 3: is remarkable about that story is that they came to 202 00:11:06,559 --> 00:11:11,360 Speaker 3: a decision after years and years and years, and like 203 00:11:11,480 --> 00:11:14,320 Speaker 3: James and Prudence and Elizabeth put out a statement and go, oh, 204 00:11:14,320 --> 00:11:16,000 Speaker 3: we're pretty happy. I mean, at least we don't have 205 00:11:16,040 --> 00:11:19,680 Speaker 3: to think about it anymore. Like, I think that's remarkable. However, 206 00:11:20,400 --> 00:11:23,959 Speaker 3: in terms of like it's just sort of voyeurism at 207 00:11:24,000 --> 00:11:27,839 Speaker 3: its finest that story. So no arguments there, but in 208 00:11:27,960 --> 00:11:30,599 Speaker 3: terms of remarkability, like what it means for the economy, 209 00:11:30,640 --> 00:11:33,000 Speaker 3: for investing, for all that sort of stuff that we're 210 00:11:33,000 --> 00:11:36,160 Speaker 3: really interested here on fear and greed. What an incredible 211 00:11:36,160 --> 00:11:39,079 Speaker 3: week for the mining sector. We had a major merger. 212 00:11:39,120 --> 00:11:42,439 Speaker 3: Now mining isn't an Australian business, it's a global business. 213 00:11:42,440 --> 00:11:46,000 Speaker 3: We had Anglo American and Canadian based Tech Resources announcing 214 00:11:46,040 --> 00:11:48,840 Speaker 3: a tie up Anglo American. Of course, BHP tried to 215 00:11:48,840 --> 00:11:51,120 Speaker 3: take them over last year for their coppy assets, got 216 00:11:51,160 --> 00:11:55,280 Speaker 3: knocked back. Their tie up hit Australia's major companies. B 217 00:11:55,440 --> 00:11:58,160 Speaker 3: HP four s q medals. Rea Tinto felt they really 218 00:11:58,200 --> 00:12:01,400 Speaker 3: felt the fallout, share prices dropping, even though the price 219 00:12:01,440 --> 00:12:03,720 Speaker 3: of iron or pushed beyond one hundred and seven US 220 00:12:03,760 --> 00:12:06,199 Speaker 3: dollars a ton for the first time since February. 221 00:12:06,679 --> 00:12:08,480 Speaker 1: Then, the world's biggest battery. 222 00:12:08,160 --> 00:12:11,120 Speaker 3: Producer in China said it's getting back into the lithium 223 00:12:11,120 --> 00:12:16,240 Speaker 3: mining game. That's about sixty five thousand tons a year, 224 00:12:16,760 --> 00:12:20,000 Speaker 3: sixty eight percent of global supply, and their back that 225 00:12:20,200 --> 00:12:25,000 Speaker 3: hit their local lithium miners that will push prices lower 226 00:12:25,080 --> 00:12:27,280 Speaker 3: or sorts of problems there. Meanwhile, gold hit a new 227 00:12:27,320 --> 00:12:29,680 Speaker 3: record after a bit of a start of the gold 228 00:12:29,880 --> 00:12:33,440 Speaker 3: stocks took off again, although initially because of that Anglo 229 00:12:33,440 --> 00:12:38,400 Speaker 3: American Tech Resources takeover, they went backwards as well. The 230 00:12:38,480 --> 00:12:44,079 Speaker 3: point of this this week really highlighted how remarkable the 231 00:12:44,120 --> 00:12:49,040 Speaker 3: mining sector is, because you had share prices falling fifteen 232 00:12:49,240 --> 00:12:52,360 Speaker 3: to twenty percent of big companies on the back of 233 00:12:52,400 --> 00:12:56,600 Speaker 3: something that happened overseas. Right, mining is not Investing in 234 00:12:56,640 --> 00:13:00,200 Speaker 3: mining is not for the faint hearted. Even BHP, his 235 00:13:00,240 --> 00:13:05,559 Speaker 3: second biggest company, can't escape it. And whilst I agree 236 00:13:05,640 --> 00:13:10,600 Speaker 3: the Murdoch story is remarkable, it's voyeurism. I'm talking about 237 00:13:10,600 --> 00:13:15,079 Speaker 3: something with grunt. I'm talking about something with copper and 238 00:13:15,240 --> 00:13:19,000 Speaker 3: iron ore and lithium and rare earths and all those 239 00:13:19,040 --> 00:13:25,240 Speaker 3: fun things. Right, remarkable week for the mining sector, Adam 240 00:13:26,320 --> 00:13:27,080 Speaker 3: well sold. 241 00:13:27,640 --> 00:13:33,160 Speaker 4: Sean Michael wins because I'm a sucker for a soap opera, 242 00:13:34,040 --> 00:13:38,240 Speaker 4: the whole Murdoch family drama as it plays out. So look, 243 00:13:38,920 --> 00:13:42,080 Speaker 4: I think, actually on economic impact, Sean, you should win, 244 00:13:42,440 --> 00:13:46,600 Speaker 4: but I'm going with subjective bias and Murdoch has to 245 00:13:46,640 --> 00:13:48,840 Speaker 4: win for me this week for remarkability. 246 00:13:49,360 --> 00:13:54,959 Speaker 3: I begrudgingly respect your decision because I'm just dirty that 247 00:13:55,000 --> 00:13:56,000 Speaker 3: I didn't get that story. 248 00:13:56,760 --> 00:14:06,839 Speaker 2: You did well though, God. 249 00:14:03,720 --> 00:14:10,840 Speaker 1: On this show, respect is only ever begrudgingly given. Okay, 250 00:14:10,920 --> 00:14:13,679 Speaker 1: all right, we are one all heading into halftime. We'll 251 00:14:13,679 --> 00:14:15,520 Speaker 1: take a quick break and come back with our mystery 252 00:14:15,559 --> 00:14:26,360 Speaker 1: story of the week. All right, Sean. Our mystery category 253 00:14:26,480 --> 00:14:29,880 Speaker 1: this week is there are a few good options for 254 00:14:29,960 --> 00:14:32,120 Speaker 1: this week, and so what we've gone is when the 255 00:14:32,240 --> 00:14:39,760 Speaker 1: story isn't the story, yes, which sounds pretty cool, right, Dick, Yeah, 256 00:14:39,960 --> 00:14:41,960 Speaker 1: very cryptic. And Sean, you're going first here. 257 00:14:42,840 --> 00:14:48,120 Speaker 3: So I suppose mind falls into the category of the 258 00:14:48,160 --> 00:14:51,640 Speaker 3: federal government says it's not sucking up to the US, 259 00:14:51,680 --> 00:14:54,280 Speaker 3: but it really is like it's not. 260 00:14:55,720 --> 00:14:56,840 Speaker 2: So this week it. 261 00:14:56,800 --> 00:14:58,680 Speaker 3: Came out and announced it will spend one point seven 262 00:14:58,720 --> 00:15:02,560 Speaker 3: billion dollars building a fleet of AI controlled underwater drones 263 00:15:02,640 --> 00:15:06,480 Speaker 3: over the next five years, the ghost Shark program, as 264 00:15:06,520 --> 00:15:09,760 Speaker 3: Michael pointed out, cracking name for an underwater droves program, 265 00:15:10,080 --> 00:15:15,440 Speaker 3: the ghost Shark program. But Defense Minister Richard Marles came out. 266 00:15:15,640 --> 00:15:19,080 Speaker 3: He insisted it had nothing to do with demands by 267 00:15:19,120 --> 00:15:22,360 Speaker 3: the Trump administration for Australia to increase its defense budget. 268 00:15:22,720 --> 00:15:26,800 Speaker 3: He said, we're sticking to the two percent of GDP number, 269 00:15:26,920 --> 00:15:28,640 Speaker 3: not what Trump wants us to do three and a 270 00:15:28,680 --> 00:15:31,960 Speaker 3: half percent. So that was okay. No one really believed him, 271 00:15:31,960 --> 00:15:33,880 Speaker 3: but you know, get away with it when you're the 272 00:15:34,360 --> 00:15:37,640 Speaker 3: acting Prime minister, then the Prime Minister who's been overseas 273 00:15:37,640 --> 00:15:42,480 Speaker 3: touring Pacific nations. He then, in this extraordinary press conference, 274 00:15:42,520 --> 00:15:43,960 Speaker 3: went out of his way to point out how much 275 00:15:44,000 --> 00:15:47,160 Speaker 3: money Australia was spending that would add to the US economy. 276 00:15:47,160 --> 00:15:49,360 Speaker 3: He talked about the new drones. He talked about a 277 00:15:49,360 --> 00:15:51,840 Speaker 3: one point six billion dollar contribution so far to enhance 278 00:15:51,840 --> 00:15:54,360 Speaker 3: the production of submarines in the US. He talked about 279 00:15:54,360 --> 00:15:56,600 Speaker 3: the provision of more than one hundred Ossie personnel in 280 00:15:56,680 --> 00:16:00,320 Speaker 3: Hawaii to learn how to maintain those vessels. He added 281 00:16:00,360 --> 00:16:03,160 Speaker 3: Australia's commitment to upgrading the Henderson Naval Base in Western 282 00:16:03,160 --> 00:16:06,240 Speaker 3: Australia to host US subs from twenty twenty seven onwards. 283 00:16:06,400 --> 00:16:08,800 Speaker 3: He talked about the rotation of US marines and aircraft 284 00:16:08,880 --> 00:16:11,640 Speaker 3: through Darwin. But hold on, hold on, we're not trying 285 00:16:11,640 --> 00:16:16,320 Speaker 3: to impress the US here. This is just all about Australia. 286 00:16:16,960 --> 00:16:21,440 Speaker 3: It's dog whistle politics at its finest. Now, I actually 287 00:16:21,440 --> 00:16:23,880 Speaker 3: don't think it's a bad strategy when you're dealing with Trump, 288 00:16:24,440 --> 00:16:26,960 Speaker 3: because as the Indian Prime minister in Rendra Mood he 289 00:16:27,000 --> 00:16:29,520 Speaker 3: found out he sucked up and just got spat out. 290 00:16:30,080 --> 00:16:34,760 Speaker 3: The Canadians have done that lesser Mexico. Alban eazy Evan's 291 00:16:34,800 --> 00:16:36,840 Speaker 3: criticizing him for not speaking to Donald Trump, or at 292 00:16:36,880 --> 00:16:39,560 Speaker 3: least the opposition is I actually think dog whistle politics 293 00:16:39,560 --> 00:16:42,840 Speaker 3: with Donald Trump ain't a bad thing. Just don't kind 294 00:16:42,840 --> 00:16:45,360 Speaker 3: of be in front of him, but just sort of 295 00:16:45,400 --> 00:16:49,120 Speaker 3: send a message. Anyway. The point is the story that 296 00:16:49,240 --> 00:16:52,040 Speaker 3: wasn't the story. That really is the story. Man, We 297 00:16:52,040 --> 00:16:53,840 Speaker 3: were sucking up to the US big time, no matter 298 00:16:53,880 --> 00:16:57,480 Speaker 3: how much the Australian Government said we weren't. Michael. 299 00:16:58,520 --> 00:17:02,080 Speaker 1: Yeah, good one. That is a very good one. No, 300 00:17:02,160 --> 00:17:04,720 Speaker 1: I mean it, I mean, I know, I love the 301 00:17:04,760 --> 00:17:07,200 Speaker 1: ghost shark like that is just I mean, it is 302 00:17:07,240 --> 00:17:09,760 Speaker 1: a fantastic name. And the idea of having kind of 303 00:17:10,160 --> 00:17:13,920 Speaker 1: underwater droned it is. It's so science fiction it is. 304 00:17:14,080 --> 00:17:19,160 Speaker 1: It's pretty pretty cool. Anyway. The real big story though, 305 00:17:19,200 --> 00:17:21,240 Speaker 1: of the week, in terms of a story that that 306 00:17:21,480 --> 00:17:23,880 Speaker 1: isn't the story and there's another story lurking behind that 307 00:17:23,920 --> 00:17:27,960 Speaker 1: particular story. Is this story. God, that's a lot of stories. 308 00:17:30,280 --> 00:17:31,200 Speaker 2: I'm with you so far. 309 00:17:31,760 --> 00:17:33,680 Speaker 1: I'm getting to it. I'm getting to the story. Give me. 310 00:17:34,440 --> 00:17:38,040 Speaker 1: The Liberal Party has had a bit of a messy 311 00:17:38,080 --> 00:17:39,200 Speaker 1: week this week. 312 00:17:39,720 --> 00:17:41,880 Speaker 3: I don't know, no, no, no. 313 00:17:41,920 --> 00:17:45,920 Speaker 1: But it's over now, it's all sorted. It's done. Senator 314 00:17:46,080 --> 00:17:48,400 Speaker 1: just sent a number Jimp for price. It's all done. 315 00:17:48,440 --> 00:17:52,720 Speaker 1: It's all sorted. She initially suggested that Labor was favoring 316 00:17:52,880 --> 00:17:57,240 Speaker 1: Indian migrants to boost votes, refuse to apologize, then refuse 317 00:17:57,320 --> 00:17:59,440 Speaker 1: to back her own leader. That was enough for Susan 318 00:17:59,520 --> 00:18:04,080 Speaker 1: Lee to her from the front bench. Susan Lee has 319 00:18:04,080 --> 00:18:08,080 Speaker 1: since apologized to Indian Australians, her colleagues, a number of them, 320 00:18:08,200 --> 00:18:10,240 Speaker 1: most of them say that she did the right thing 321 00:18:10,560 --> 00:18:13,679 Speaker 1: in sacking Senator Price. The party says it's time to 322 00:18:13,720 --> 00:18:17,040 Speaker 1: move on. It's all done right, that's it. It is over. 323 00:18:17,160 --> 00:18:20,880 Speaker 1: It is not over right. This story behind the story 324 00:18:20,960 --> 00:18:26,920 Speaker 1: here is clear. This whole thing, this decisive action taken 325 00:18:26,960 --> 00:18:30,560 Speaker 1: by Susan Lee, does not strengthen her leadership. It just 326 00:18:30,640 --> 00:18:35,919 Speaker 1: exposes how fragile it is because Price openly defying her leader, 327 00:18:36,560 --> 00:18:39,080 Speaker 1: that kind of thing just doesn't disappear, and it doesn't 328 00:18:39,119 --> 00:18:41,840 Speaker 1: come from nowhere, right and not helping her comments by 329 00:18:43,359 --> 00:18:46,119 Speaker 1: front bencher Andrew Hasty that he'd like to lead the 330 00:18:46,119 --> 00:18:48,639 Speaker 1: party one day, but no, the knives aren't out yet. 331 00:18:48,640 --> 00:18:50,280 Speaker 1: We're not sharpening the knives. I'm not going to do 332 00:18:50,320 --> 00:18:52,800 Speaker 1: it now. That's great, that's great for stability. And he's 333 00:18:52,800 --> 00:18:55,159 Speaker 1: actually one of hers, he's actually one of her supporters, 334 00:18:57,000 --> 00:18:59,800 Speaker 1: which doesn't say a lot, does it. And this goes 335 00:18:59,800 --> 00:19:02,960 Speaker 1: to the heart of the problems within the Liberal Party 336 00:19:03,000 --> 00:19:08,040 Speaker 1: and within the coalition more broadly. The Liberal Party was hammered, hammered, hammered, 337 00:19:08,160 --> 00:19:10,760 Speaker 1: hammered at the election, and even with a much smaller 338 00:19:10,840 --> 00:19:13,640 Speaker 1: party room. You would think fewer people in the room 339 00:19:13,680 --> 00:19:16,080 Speaker 1: would be easier for them to get everyone sorted. They 340 00:19:16,080 --> 00:19:18,840 Speaker 1: still can't get their act together, They still can't figure 341 00:19:18,840 --> 00:19:21,320 Speaker 1: out what they stand for, and they still can't get 342 00:19:21,359 --> 00:19:24,639 Speaker 1: on with earning back the support and the trust of 343 00:19:24,760 --> 00:19:27,720 Speaker 1: conservative voters. And in the meantime, the government has nobody 344 00:19:27,760 --> 00:19:30,960 Speaker 1: to hold them to account, and we all lose out 345 00:19:31,000 --> 00:19:33,960 Speaker 1: of that right. So there is a much, much bigger 346 00:19:34,000 --> 00:19:36,960 Speaker 1: story at play here, and it is one in politics 347 00:19:36,960 --> 00:19:41,359 Speaker 1: which has economic impact. It's got subjective bias, it's got everything, Adam, 348 00:19:41,359 --> 00:19:43,800 Speaker 1: it ticks every box on your list, and it does 349 00:19:43,840 --> 00:19:44,800 Speaker 1: it with full marks. 350 00:19:45,440 --> 00:19:46,440 Speaker 3: I am the winner. 351 00:19:48,280 --> 00:19:52,159 Speaker 4: And I am redundant in this story. So God, that 352 00:19:52,320 --> 00:19:56,200 Speaker 4: was difficult. Go Shark versus leadership of the Liberal Party. 353 00:19:56,480 --> 00:19:58,000 Speaker 3: How can I make a comment before you give us 354 00:19:58,000 --> 00:20:03,880 Speaker 3: some judgment? Yours was dull topic, Yours was really dune mine. 355 00:20:04,040 --> 00:20:08,160 Speaker 4: I think if if Michael had his way, he would 356 00:20:08,160 --> 00:20:13,640 Speaker 4: have had the ghost Shark story because it wins. It's 357 00:20:13,720 --> 00:20:17,320 Speaker 4: such a great name, and it's such a great Titanic battle, 358 00:20:18,480 --> 00:20:22,280 Speaker 4: billions of dollars and world defense. I think it has 359 00:20:22,320 --> 00:20:25,640 Speaker 4: to win this week, even beyond the Liberal Party leadership 360 00:20:25,640 --> 00:20:27,720 Speaker 4: issues which have been titanic. 361 00:20:28,080 --> 00:20:29,480 Speaker 2: But Sean, well done. 362 00:20:29,520 --> 00:20:31,679 Speaker 3: I mean just to share my begrudging respect for that 363 00:20:31,720 --> 00:20:35,399 Speaker 3: particular decision. Change your criteria, so you just went like 364 00:20:35,440 --> 00:20:37,480 Speaker 3: a good catchy phrase or something nowadays? 365 00:20:37,680 --> 00:20:41,399 Speaker 4: Oh yeah, Well, can I come under the melodrama banner? 366 00:20:42,400 --> 00:20:45,640 Speaker 1: See it is the main criteria. I told you, Sure, 367 00:20:45,960 --> 00:20:49,359 Speaker 1: I told you, Adam, Melodrama wins in the end. I 368 00:20:49,400 --> 00:20:52,760 Speaker 1: need to do more melodrama. And as I say that, 369 00:20:52,800 --> 00:21:00,199 Speaker 1: you can actually hear people turning off their podcasts. Enough enough, 370 00:21:00,240 --> 00:21:03,480 Speaker 1: just shut him up. Okay, let's get us two to one. 371 00:21:03,680 --> 00:21:06,400 Speaker 1: I can still win this favorite story of the week. 372 00:21:06,440 --> 00:21:11,000 Speaker 1: Shall I go first? On this first? Apple Apple Adam. 373 00:21:11,240 --> 00:21:14,800 Speaker 1: Apple is a three point four trillion US dollar company. 374 00:21:15,280 --> 00:21:20,000 Speaker 1: Two thirds of its revenue comes from iPhones. Therefore, when 375 00:21:20,119 --> 00:21:23,800 Speaker 1: Apple releases new iPhones, including what CEO Tim Cook describes 376 00:21:23,800 --> 00:21:27,320 Speaker 1: as the biggest leap for iPhones ever, then clearly this 377 00:21:27,440 --> 00:21:29,959 Speaker 1: is the favorite story of the week, potentially the biggest 378 00:21:29,960 --> 00:21:32,760 Speaker 1: story of the week, simply because the maths says it 379 00:21:32,840 --> 00:21:35,439 Speaker 1: is so that company is so big iPhone, such a 380 00:21:35,480 --> 00:21:39,000 Speaker 1: big contributor to its revenue. Therefore it is the biggest 381 00:21:39,040 --> 00:21:42,320 Speaker 1: and best story of the week. The announcement the thinnest 382 00:21:42,480 --> 00:21:46,359 Speaker 1: iPhone ever, the iPhone Air, is just five point six 383 00:21:46,480 --> 00:21:51,680 Speaker 1: millimeters thick. Now, in case you aren't familiar with measurement, 384 00:21:52,320 --> 00:21:57,200 Speaker 1: I will help you. One two dollar coin, one two 385 00:21:57,200 --> 00:21:58,640 Speaker 1: dollar coin on its side. 386 00:21:58,600 --> 00:22:01,800 Speaker 2: If good coins. 387 00:22:02,240 --> 00:22:03,879 Speaker 1: Yeah, I'm more familiar with coins and I am with 388 00:22:03,920 --> 00:22:10,320 Speaker 1: a phone. One coin is two point eight millimeters thick. 389 00:22:11,680 --> 00:22:15,040 Speaker 1: If you therefore, you know I'm going with this stacked 390 00:22:15,080 --> 00:22:18,720 Speaker 1: two of them on top of each other. 391 00:22:18,840 --> 00:22:21,560 Speaker 3: Can I ask Michael, how much time did you spend 392 00:22:22,200 --> 00:22:25,600 Speaker 3: trying to work out a way of explaining the thickness 393 00:22:25,600 --> 00:22:25,879 Speaker 3: to us? 394 00:22:25,920 --> 00:22:29,000 Speaker 1: I haven't spent three hours to go through three hours 395 00:22:29,000 --> 00:22:31,800 Speaker 1: walking around my house with a tape measure going okay. 396 00:22:31,560 --> 00:22:35,680 Speaker 3: That's right, it was six meals. Is hard to measure. 397 00:22:35,560 --> 00:22:38,960 Speaker 1: Because it's roughly coin. It's roughly the same width as 398 00:22:38,960 --> 00:22:43,680 Speaker 1: a pencil. I think three credit cards stacked on top 399 00:22:43,720 --> 00:22:45,840 Speaker 1: of each other. Like. There is a whole lot of 400 00:22:45,840 --> 00:22:48,480 Speaker 1: different things I could have used for this, but interesting fact, 401 00:22:48,680 --> 00:22:51,919 Speaker 1: do you know that it is half the thickness of 402 00:22:51,960 --> 00:22:54,800 Speaker 1: the original iPhone from two thousand and seven? So that 403 00:22:54,960 --> 00:22:57,720 Speaker 1: is how much these things are shrinking. It's pretty it 404 00:22:57,800 --> 00:23:01,080 Speaker 1: is pretty remarkable. It is incredible, and we've got the 405 00:23:01,520 --> 00:23:04,440 Speaker 1: also had the new iPhone seventeen, announced, the seventeen Pro, 406 00:23:04,600 --> 00:23:07,439 Speaker 1: the new Apple Watch, the new AirPods, all with a 407 00:23:07,440 --> 00:23:10,800 Speaker 1: big focus on health. This tech, it is just exciting. 408 00:23:11,080 --> 00:23:14,959 Speaker 1: It is fun, it is sexy. It is critical Adam 409 00:23:15,280 --> 00:23:18,680 Speaker 1: to Apple's success and therefore the success of the broader 410 00:23:18,920 --> 00:23:26,639 Speaker 1: global economy. That'll do just like it just needs to 411 00:23:26,680 --> 00:23:29,320 Speaker 1: describe the way the two of you. No, No, the 412 00:23:29,320 --> 00:23:31,760 Speaker 1: way the two of you look when I say something. 413 00:23:31,800 --> 00:23:35,119 Speaker 1: Sometimes it's just this look, oh god, he's doing it again. 414 00:23:35,520 --> 00:23:37,720 Speaker 1: They're just the slight shake of the head when all 415 00:23:37,720 --> 00:23:40,000 Speaker 1: this be over. Well, it's over now, Sean, you're up. 416 00:23:40,400 --> 00:23:43,560 Speaker 3: Well, I've shifted my favorite story because I've gone to voyeurism. 417 00:23:43,880 --> 00:23:46,639 Speaker 3: Because if Adam likes the Murdocks, he's going to like 418 00:23:46,720 --> 00:23:53,280 Speaker 3: rich people surely. And this week, momentarily, at least momentarily, 419 00:23:53,600 --> 00:23:57,680 Speaker 3: we had Larry Ellison passing Elon Musk gaining the title 420 00:23:57,720 --> 00:24:00,560 Speaker 3: of the world's richest person after the software group Oracle 421 00:24:01,000 --> 00:24:04,120 Speaker 3: reported incredibly strong quarterly results that sent its share price 422 00:24:04,160 --> 00:24:06,600 Speaker 3: up thirty percent. Ellison has most of his wealth tied 423 00:24:06,680 --> 00:24:12,280 Speaker 3: up in Oracle shares. He jumped to just above Musks 424 00:24:12,400 --> 00:24:15,520 Speaker 3: three eighty four billion dollars. The share price came back. Currently, 425 00:24:16,040 --> 00:24:19,520 Speaker 3: according to the Bloomberg Billionaire's Index, he is sitting at 426 00:24:19,560 --> 00:24:23,679 Speaker 3: three hundred and eighty three billion dollars, one billion dollars 427 00:24:23,880 --> 00:24:26,920 Speaker 3: below Musks three hundred and eighty four billion dollars. Now 428 00:24:27,160 --> 00:24:29,359 Speaker 3: we are recording this early in the morning, Wall streets 429 00:24:29,359 --> 00:24:31,879 Speaker 3: still trading. Who knows, by the time you're listening, we 430 00:24:32,000 --> 00:24:36,600 Speaker 3: could have Larry Ellison back well as the new number 431 00:24:36,600 --> 00:24:41,639 Speaker 3: one billionaire in the world. It's quite possible that this 432 00:24:41,720 --> 00:24:43,919 Speaker 3: eighty one year old els have you seen photos of him, 433 00:24:43,960 --> 00:24:46,680 Speaker 3: by the way, Larry Ellison. 434 00:24:46,600 --> 00:24:47,840 Speaker 2: Yeah, not for a little while. 435 00:24:48,560 --> 00:24:51,080 Speaker 3: Yeah, Now you need to update your photos. You need 436 00:24:51,080 --> 00:24:52,840 Speaker 3: to update your photos, because if you haven't seen a 437 00:24:52,840 --> 00:24:56,040 Speaker 3: photo of him since he was seventy five, he's changed. 438 00:24:56,640 --> 00:24:58,000 Speaker 3: And I'm not saying he looked older. 439 00:24:59,800 --> 00:25:03,199 Speaker 1: All looking younger. The hair, isn't it. The hair is 440 00:25:03,240 --> 00:25:04,520 Speaker 1: now a coppery. 441 00:25:04,200 --> 00:25:07,400 Speaker 3: Carol line and the yeah yeah, lot going on there anyway. 442 00:25:08,000 --> 00:25:09,679 Speaker 2: That's just being happy in life. 443 00:25:09,760 --> 00:25:15,120 Speaker 3: Sure, I think get married Agan recently. I can't remember 444 00:25:15,920 --> 00:25:18,159 Speaker 3: Bezos did? Remember how I'm getting mixed up? 445 00:25:18,320 --> 00:25:21,159 Speaker 1: Remember how kind of whenever you go anywhere in the world. 446 00:25:21,280 --> 00:25:24,080 Speaker 1: You just attract news stories to you kind of. You 447 00:25:24,119 --> 00:25:28,400 Speaker 1: went to Italy, Jeff Bezos, you went to the Cotswolds 448 00:25:28,480 --> 00:25:32,240 Speaker 1: and then Evans the dance for Vance there. Did you 449 00:25:32,280 --> 00:25:34,000 Speaker 1: see that while you were there? Out of interest? 450 00:25:34,359 --> 00:25:36,440 Speaker 3: No, no, no, I missed it unfortunately. 451 00:25:36,480 --> 00:25:38,960 Speaker 1: Oh okay, no, that's that's that. That was exactly while 452 00:25:38,960 --> 00:25:41,080 Speaker 1: you were there, And now you're in. Now you are 453 00:25:41,440 --> 00:25:47,120 Speaker 1: joining us at the moment from a village, a French village, 454 00:25:47,400 --> 00:25:50,440 Speaker 1: and the French government is just collapsing. So you are 455 00:25:50,480 --> 00:25:51,760 Speaker 1: a bad luck change. 456 00:25:51,800 --> 00:25:53,919 Speaker 3: All that sort of stuff. Anyway, leave me at Oracle 457 00:25:53,920 --> 00:25:56,040 Speaker 3: share price more than double in the last six months. 458 00:25:56,080 --> 00:25:57,800 Speaker 3: Not much happening at Tesla. I mean, it is up 459 00:25:57,840 --> 00:26:00,639 Speaker 3: a bit in the last six months. But suddenly we 460 00:26:00,760 --> 00:26:05,920 Speaker 3: have a new well almost possibly a new richest person 461 00:26:05,920 --> 00:26:09,040 Speaker 3: in the world. I just wonder whether Elon Musk will 462 00:26:09,040 --> 00:26:15,120 Speaker 3: tweet and congratulate Larry Ellison, because remember when he overtook 463 00:26:15,320 --> 00:26:18,240 Speaker 3: was a Bezos or Zuckerberg. He kind of sent this 464 00:26:18,600 --> 00:26:22,600 Speaker 3: incredibly crude, you know, sucker tweet because he became the 465 00:26:22,640 --> 00:26:25,320 Speaker 3: richest man in the world. I can't remember the details. Michael, 466 00:26:25,359 --> 00:26:27,679 Speaker 3: That's the sort of stuff you would remember no. 467 00:26:31,000 --> 00:26:31,800 Speaker 1: You on this one. 468 00:26:32,200 --> 00:26:39,719 Speaker 3: Yeah, anyway, cracking story. You know, rich people, Adam, rich people. 469 00:26:41,040 --> 00:26:49,399 Speaker 4: Okay, the Apple iPhone new release very good, but I think, yeah, sorry, 470 00:26:49,600 --> 00:26:55,840 Speaker 4: Michael Ellison has gone ahead to the top of the 471 00:26:55,920 --> 00:27:00,560 Speaker 4: leader table by saying nothing versus Trump, who says so much, 472 00:27:01,040 --> 00:27:04,800 Speaker 4: and Elon Musk, who says so much. So I think Ellison, 473 00:27:05,200 --> 00:27:08,920 Speaker 4: just the silent achiever, has to win for my favorite 474 00:27:08,920 --> 00:27:09,640 Speaker 4: story of the week. 475 00:27:10,800 --> 00:27:18,320 Speaker 1: Excellent, that's a surprise. That's a disappointment. Not happy with 476 00:27:18,400 --> 00:27:18,919 Speaker 1: this result. 477 00:27:19,000 --> 00:27:21,280 Speaker 4: But look, I love what Apple did, but it's just 478 00:27:21,440 --> 00:27:24,480 Speaker 4: it doesn't feel as big as it might have been. 479 00:27:24,920 --> 00:27:27,440 Speaker 3: I think about Apple and Samsung and all these guys 480 00:27:27,480 --> 00:27:31,280 Speaker 3: like you're getting so the decisions made, great judgment, et cetera. 481 00:27:31,560 --> 00:27:34,919 Speaker 3: But it's sort of the who ha, the who ha 482 00:27:35,520 --> 00:27:38,920 Speaker 3: that goes along with every single launch. Drives a bit mad. 483 00:27:38,960 --> 00:27:43,760 Speaker 4: Really, I was at a function just yesterday, and so 484 00:27:44,280 --> 00:27:47,080 Speaker 4: the telcos, you know, when they get told by Apple, 485 00:27:47,520 --> 00:27:50,399 Speaker 4: they know roughly this time of year what's coming, but 486 00:27:50,480 --> 00:27:53,560 Speaker 4: there is such a controlled set of circumstances when it 487 00:27:53,600 --> 00:27:57,439 Speaker 4: comes through. So every asset, every creative bit, like if 488 00:27:57,480 --> 00:27:59,840 Speaker 4: you want to put up in the livery in your 489 00:28:00,080 --> 00:28:02,760 Speaker 4: door or on your website. It all has to go 490 00:28:02,840 --> 00:28:07,080 Speaker 4: through Apple in this very confined space of like twelve hours, 491 00:28:07,600 --> 00:28:10,040 Speaker 4: and so they're all waiting and they all have to 492 00:28:10,080 --> 00:28:13,200 Speaker 4: go through this bottleneck to it. It's so controlled, it's 493 00:28:13,240 --> 00:28:15,399 Speaker 4: so big, and in a way that's a testament to 494 00:28:15,440 --> 00:28:18,240 Speaker 4: what Apple has achieved. You know that a product launch 495 00:28:18,320 --> 00:28:23,440 Speaker 4: does this regularly every year. But still I have to say, 496 00:28:23,480 --> 00:28:26,479 Speaker 4: I think Ellison just with Oracle and what he's built 497 00:28:26,600 --> 00:28:29,679 Speaker 4: and behind the scenes. It's not a consumer brand, it's 498 00:28:29,720 --> 00:28:32,959 Speaker 4: a B to B brand, but it is so phenomenal, 499 00:28:33,000 --> 00:28:35,480 Speaker 4: what a success story it is. So I think it's 500 00:28:35,480 --> 00:28:36,639 Speaker 4: a good winner this week. 501 00:28:37,400 --> 00:28:39,120 Speaker 3: Thank you. Now that's three one. Can I just make 502 00:28:39,120 --> 00:28:43,640 Speaker 3: a quick mention on Apple because as I was leaving Sydney, Adam, 503 00:28:44,440 --> 00:28:48,600 Speaker 3: I'm a Microsoft man. I've always used a laptop. I'm 504 00:28:48,640 --> 00:28:50,240 Speaker 3: walking out the door on adamsy is you better take 505 00:28:50,280 --> 00:28:52,160 Speaker 3: this because it's got a better camera, right? Can you 506 00:28:52,240 --> 00:28:55,880 Speaker 3: use that when you're overseas It's a MacBook, Adam. A 507 00:28:55,920 --> 00:28:58,520 Speaker 3: few times now since getting back to work, I've nearly 508 00:28:58,560 --> 00:29:02,600 Speaker 3: thrown it through the window down the valley. 509 00:29:03,160 --> 00:29:04,960 Speaker 1: So you say these things, and you know what it 510 00:29:05,000 --> 00:29:09,880 Speaker 1: makes you sound? What tech temporary inept. 511 00:29:11,320 --> 00:29:14,520 Speaker 3: But I've never used a MacBook. I'm sorry. This shift 512 00:29:14,680 --> 00:29:15,240 Speaker 3: takes time. 513 00:29:15,760 --> 00:29:18,200 Speaker 1: It does, it does, but god, we're hearing a lot 514 00:29:18,240 --> 00:29:20,440 Speaker 1: about it every day. It's like, oh, I'm going to 515 00:29:20,480 --> 00:29:22,320 Speaker 1: throw the laptop. I'm like, oh God, just throw it 516 00:29:22,360 --> 00:29:24,719 Speaker 1: already and stop talking about it. I love it. 517 00:29:24,920 --> 00:29:29,719 Speaker 4: You've changed, you've changed language, You're in a different country 518 00:29:29,720 --> 00:29:30,720 Speaker 4: and culture. 519 00:29:31,080 --> 00:29:33,200 Speaker 2: But it's you. Undone. 520 00:29:33,800 --> 00:29:35,800 Speaker 1: I was going to You're going to say some things 521 00:29:35,800 --> 00:29:41,800 Speaker 1: never change, which is Sean complaining. Okay, look three to one. 522 00:29:42,080 --> 00:29:46,040 Speaker 1: I begrudgingly respect the decision. Adam, thank you very. 523 00:29:46,000 --> 00:29:48,160 Speaker 2: Much, Thank you, Michael, and welcome back, Sean. 524 00:29:48,280 --> 00:29:50,320 Speaker 3: Thank you very much, Sean, Thanks Michael, Thanks Adam. 525 00:29:50,440 --> 00:29:52,400 Speaker 1: Make sure you're following the podcast and head to Fear 526 00:29:52,400 --> 00:29:54,040 Speaker 1: and Greed dot com today you to sign up for 527 00:29:54,080 --> 00:29:56,640 Speaker 1: our free daily newsletter. I'm Michael Thompson and that was 528 00:29:56,680 --> 00:29:58,320 Speaker 1: Fear and Greed. Have a great weekend.