1 00:00:00,160 --> 00:00:02,639 Speaker 1: This is what the Flux. I'm Brett and I'm Justin 2 00:00:02,720 --> 00:00:05,280 Speaker 1: and it's Wednesday, the twenty third of July. Boys. We 3 00:00:05,360 --> 00:00:08,119 Speaker 1: know that new electric vehicle brands have blooded the market 4 00:00:08,160 --> 00:00:12,160 Speaker 1: in Australia, from BWAD to GWM to Cherry, but a 5 00:00:12,200 --> 00:00:15,120 Speaker 1: new report from the Center for International Economics predicts that 6 00:00:15,160 --> 00:00:17,720 Speaker 1: by twenty thirty five, nearly half of all cars on 7 00:00:17,760 --> 00:00:21,159 Speaker 1: Australian roads will be Chinese wound. That Juzzy Boy is 8 00:00:21,160 --> 00:00:23,040 Speaker 1: a jump from just seventeen percent today. 9 00:00:23,079 --> 00:00:25,160 Speaker 2: It is well and truly heading up in the EV space. 10 00:00:25,200 --> 00:00:28,040 Speaker 2: B Man speaking of heating up. The property market's been 11 00:00:28,080 --> 00:00:29,880 Speaker 2: heading up over the last few months since the RBA 12 00:00:30,000 --> 00:00:33,120 Speaker 2: cash raids and that means deposits are getting bigger and bigger. 13 00:00:33,200 --> 00:00:36,159 Speaker 2: This month in the Academy where unpacking how lender's mortgage 14 00:00:36,200 --> 00:00:39,199 Speaker 2: insurance can help to become your unexpected shortcut into the 15 00:00:39,240 --> 00:00:42,200 Speaker 2: property market and getting a whole lot faster than you thought. 16 00:00:42,240 --> 00:00:44,720 Speaker 2: And the man we are dishing out cash prizes for 17 00:00:44,760 --> 00:00:46,320 Speaker 2: the winners as well. So Flux am, if you want 18 00:00:46,320 --> 00:00:48,080 Speaker 2: to learn more about LMI and how can help you 19 00:00:48,120 --> 00:00:50,479 Speaker 2: get into your property sooner, make sure to download the 20 00:00:50,479 --> 00:00:52,040 Speaker 2: Flux out and check out the academy this. 21 00:00:52,040 --> 00:00:57,440 Speaker 1: Month three massive stories Today Juzzy Boy for our first Seek, 22 00:00:57,600 --> 00:01:00,640 Speaker 1: the digital jobs marketplace is being taken to caught by 23 00:01:00,680 --> 00:01:03,880 Speaker 1: its former friend, Employment Hero. Oh this is getting heated 24 00:01:03,880 --> 00:01:05,959 Speaker 1: as well. Be Man it is, so tell me more, okay. So. 25 00:01:06,080 --> 00:01:09,720 Speaker 1: Employment Hero is an Australian hr technology company that helps 26 00:01:09,720 --> 00:01:13,280 Speaker 1: small businesses with payroll in onboarding and hiring and be Man. 27 00:01:13,280 --> 00:01:15,560 Speaker 2: It hit Unicorn status in twenty twenty two when it 28 00:01:15,640 --> 00:01:18,560 Speaker 2: raised capital at a one point twenty five billion dollar valuation. 29 00:01:18,840 --> 00:01:22,720 Speaker 1: Meanwhile, Seek is the og Australian digital jobs marketplace. It's 30 00:01:22,760 --> 00:01:25,160 Speaker 1: been around since nineteen ninety seven, back when the noise 31 00:01:25,240 --> 00:01:28,319 Speaker 1: from dial up internet shook your whole house and Juzzy Boy. 32 00:01:28,400 --> 00:01:31,440 Speaker 1: Seek and Employment Hero know each other pretty well. 33 00:01:31,720 --> 00:01:34,240 Speaker 2: As part of the Employment Heroes, a unicorn reaching capital 34 00:01:34,319 --> 00:01:37,559 Speaker 2: raise Seeks venture capital fund actually investor YEP. 35 00:01:37,640 --> 00:01:40,320 Speaker 1: Seek is an investor in Employment Hero. 36 00:01:40,240 --> 00:01:43,760 Speaker 2: But recently Employment Hero launched its own zero fee hiring 37 00:01:43,800 --> 00:01:45,440 Speaker 2: platform called smart Match. 38 00:01:45,240 --> 00:01:48,400 Speaker 1: A direct competitor to Seeks paid job listings. So be Man. 39 00:01:48,520 --> 00:01:51,880 Speaker 1: Seek has now cut Employment Hero's access to the Seek API, 40 00:01:52,040 --> 00:01:55,160 Speaker 1: which is the technology bridge that helped Employment Hero tap 41 00:01:55,200 --> 00:01:57,960 Speaker 1: into Seeks Job listings, lots of tip for tach going 42 00:01:57,960 --> 00:02:01,120 Speaker 1: on here, and now Employment Hero is going one step 43 00:02:01,160 --> 00:02:04,280 Speaker 1: further by dragging Sek to court for cutting the access 44 00:02:04,320 --> 00:02:06,520 Speaker 1: to its API and jusey Boy. It seems like Seek 45 00:02:06,640 --> 00:02:10,120 Speaker 1: is getting a taste of its own disruptor medicine. So 46 00:02:10,240 --> 00:02:12,680 Speaker 1: what is the key learning here? Once a disruptor, always 47 00:02:12,680 --> 00:02:16,560 Speaker 1: a disruptor, until you become the disrupted bit man. We 48 00:02:16,639 --> 00:02:19,840 Speaker 1: know that Sekh helped kill job ads in newspaper classifieds, 49 00:02:19,840 --> 00:02:22,639 Speaker 1: but now it's trying to avoid its own Kodak moment, 50 00:02:22,680 --> 00:02:25,200 Speaker 1: and by blocking Employment Hero from its API, it's sending 51 00:02:25,240 --> 00:02:27,919 Speaker 1: a message we are not playing nice anymore. 52 00:02:28,000 --> 00:02:30,560 Speaker 2: And the man Seeking isn't the only disruptor to become 53 00:02:30,760 --> 00:02:31,480 Speaker 2: the disrupted. 54 00:02:31,600 --> 00:02:34,280 Speaker 1: eBay grew to become a seventy six billion US dollar 55 00:02:34,280 --> 00:02:37,880 Speaker 1: behemoth when it disrupted the old garage sale as well 56 00:02:37,919 --> 00:02:40,000 Speaker 1: as the trading post what Over the past five years, 57 00:02:40,000 --> 00:02:42,720 Speaker 1: eBay's lost ground to Facebook Marketplace, which is free, as 58 00:02:42,760 --> 00:02:45,400 Speaker 1: well as niche resale apps like epop and Poshmark and 59 00:02:45,440 --> 00:02:48,640 Speaker 1: Next Minute. eBay's market cap is below thirty seven billion USA. 60 00:02:48,720 --> 00:02:50,960 Speaker 1: Not about Trip Advisor juzzy Boy. At its prime, it 61 00:02:51,040 --> 00:02:53,040 Speaker 1: disrupted travel agents and guidebooks. 62 00:02:53,240 --> 00:02:56,560 Speaker 2: Now it's losing relevance as people lean into TikTok recommendations 63 00:02:56,600 --> 00:02:57,680 Speaker 2: and Google reviews. 64 00:02:57,760 --> 00:03:00,400 Speaker 1: So each of these companies rewrote the rule book in 65 00:03:00,440 --> 00:03:03,280 Speaker 1: their prime, but now twenty plus years on, they're facing 66 00:03:03,320 --> 00:03:07,160 Speaker 1: their own disruptors. For our second story, Quantus has admitted 67 00:03:07,160 --> 00:03:10,079 Speaker 1: to using AI for its CEO's email that was sent 68 00:03:10,120 --> 00:03:13,320 Speaker 1: to customers affected by a data breach. Did Quantus outsource 69 00:03:13,360 --> 00:03:16,760 Speaker 1: its empathy to a chatbot? Tell me more? Okay? So? 70 00:03:16,919 --> 00:03:20,040 Speaker 2: Quantus aka the Big Red Kangaroo, was founded in nineteen 71 00:03:20,080 --> 00:03:22,239 Speaker 2: twenty and is Australia's national airline. 72 00:03:22,280 --> 00:03:25,240 Speaker 1: Earlier this month, Quantus suffered a massive data breach affecting 73 00:03:25,240 --> 00:03:28,320 Speaker 1: five point seven million of its customers. 74 00:03:27,760 --> 00:03:30,919 Speaker 2: And then supposedly one of the third party systems used 75 00:03:30,919 --> 00:03:34,440 Speaker 2: by their core center staff was breached by cyber attackers. 76 00:03:33,919 --> 00:03:36,960 Speaker 1: And the data breach included sensitive information of customers. 77 00:03:36,960 --> 00:03:40,360 Speaker 2: We're talking full names, addresses, birthdays, and phone numbers and. 78 00:03:40,400 --> 00:03:42,880 Speaker 1: Does boy At a time where Quantus needs to demonstrate 79 00:03:42,960 --> 00:03:46,320 Speaker 1: its trustworthiness, it has made headlines again. 80 00:03:46,080 --> 00:03:48,960 Speaker 2: This time for using AI in the apology email that 81 00:03:49,040 --> 00:03:50,760 Speaker 2: it sent to their hacked victim. 82 00:03:50,880 --> 00:03:53,720 Speaker 1: You see one of Contus's sleuthy customers noticed that the 83 00:03:53,720 --> 00:03:57,680 Speaker 1: bullet points in the apology email was an embedded image file, and. 84 00:03:57,640 --> 00:04:00,720 Speaker 2: That bullet point image file had metadata that showed it 85 00:04:00,800 --> 00:04:02,920 Speaker 2: was created using Generative AI. 86 00:04:03,120 --> 00:04:07,400 Speaker 1: Specifically, I'm talking chat GPT four yep Contis admitted to 87 00:04:07,480 --> 00:04:11,840 Speaker 1: using chat GPT to format the email. However, they claimed 88 00:04:11,840 --> 00:04:15,560 Speaker 1: the apology message, well, that was not AI generated. What 89 00:04:15,680 --> 00:04:17,760 Speaker 1: is the key learning here? When a company suffered a 90 00:04:17,880 --> 00:04:21,080 Speaker 1: major breach of trust, customers want reassurance that any apology 91 00:04:21,120 --> 00:04:24,000 Speaker 1: is sincere and human. So when Quantus admits to using 92 00:04:24,000 --> 00:04:27,080 Speaker 1: AI to format their apology, it may have chipped away 93 00:04:27,200 --> 00:04:29,360 Speaker 1: the authenticity of the apology message. 94 00:04:29,440 --> 00:04:31,760 Speaker 2: Might I remind you be man? Their apology email users 95 00:04:31,760 --> 00:04:34,679 Speaker 2: phrases like you put your trust in us and also 96 00:04:34,800 --> 00:04:38,760 Speaker 2: we sincerely apologize. So consumers kind of expect that sincerity 97 00:04:38,839 --> 00:04:41,200 Speaker 2: to come from a human heart, not a silicon chip. 98 00:04:41,800 --> 00:04:44,120 Speaker 1: And despite being widely used by the public, I was 99 00:04:44,240 --> 00:04:45,840 Speaker 1: just still kind of suspicious of AI. 100 00:04:45,880 --> 00:04:48,680 Speaker 2: Well half of Australians used AI regularly, only thirty six 101 00:04:48,760 --> 00:04:51,239 Speaker 2: percent were willing to trust it. According to a recent 102 00:04:51,279 --> 00:04:52,680 Speaker 2: report by KPMG. 103 00:04:52,279 --> 00:04:54,800 Speaker 1: And Jasie Boyd. This shows how easily tech shortcuts can 104 00:04:54,880 --> 00:04:58,479 Speaker 1: undermine trust, especially when emotions are running real high. For 105 00:04:58,640 --> 00:05:01,760 Speaker 1: our third and final story, Donald Trump has signed the 106 00:05:01,839 --> 00:05:05,400 Speaker 1: very first crypto bill in US history, and crypto valuations 107 00:05:05,440 --> 00:05:08,359 Speaker 1: are going bonkers. Is this crypto's coming of age moment? 108 00:05:08,360 --> 00:05:10,840 Speaker 1: Be Man? Tell me more? So. Everyone knows the story 109 00:05:10,880 --> 00:05:14,479 Speaker 1: of bitcoin started by Satoshi Nakamoto in two thousand and eight, 110 00:05:14,560 --> 00:05:17,040 Speaker 1: but the history is stable coins that started a lot later. 111 00:05:17,120 --> 00:05:20,360 Speaker 1: We're talking twenty fourteen, back when Timber by Pitbull and 112 00:05:20,440 --> 00:05:23,400 Speaker 1: Kesher was the most irritating song in the history of radio. 113 00:05:23,480 --> 00:05:25,640 Speaker 1: And be Man, despite the fact that Donald Trump once 114 00:05:25,680 --> 00:05:28,640 Speaker 1: said that crypto was based on Finnair, he's now gone 115 00:05:28,680 --> 00:05:31,240 Speaker 1: full web three. Donald Trump has signed the first major 116 00:05:31,279 --> 00:05:33,919 Speaker 1: crypto legislation in US history, and he's called it the 117 00:05:34,080 --> 00:05:37,120 Speaker 1: Genius Act, and he claimed the Act was named after me. 118 00:05:37,400 --> 00:05:40,640 Speaker 1: And what exactly does this Genius Act regulate? Covers a 119 00:05:40,680 --> 00:05:42,479 Speaker 1: whole lot of different things, but ben Man, the big 120 00:05:42,520 --> 00:05:45,400 Speaker 1: one is strict rules for stable coins. Yep, they must 121 00:05:45,400 --> 00:05:48,440 Speaker 1: be backed one to one with cash or short term 122 00:05:48,600 --> 00:05:49,560 Speaker 1: US government debt. 123 00:05:49,600 --> 00:05:51,840 Speaker 2: And this opens the door for private companies to also 124 00:05:51,880 --> 00:05:54,080 Speaker 2: issue digital dollars. So what is the key learning? 125 00:05:54,120 --> 00:05:57,039 Speaker 1: His stable coins are a type of crypto designed to 126 00:05:57,120 --> 00:05:59,839 Speaker 1: hold a very steady value. 127 00:05:59,440 --> 00:06:02,840 Speaker 2: And like bitcoin or ethereum, stable coins are backed by 128 00:06:02,920 --> 00:06:06,240 Speaker 2: actual assets like cash or short term government debt. 129 00:06:06,120 --> 00:06:08,400 Speaker 1: And Josie Boy stable coins have been booming this year 130 00:06:08,440 --> 00:06:10,520 Speaker 1: even before this legislation. 131 00:06:10,720 --> 00:06:12,920 Speaker 2: Yep total market cap of stable coin right now is 132 00:06:12,960 --> 00:06:15,160 Speaker 2: two hundred and twenty eight billion US dollars. 133 00:06:14,920 --> 00:06:18,200 Speaker 1: Which has jumped about seventeen percent in market cap this year. 134 00:06:18,279 --> 00:06:21,480 Speaker 1: But Man, with this new genius federal regulation in place, 135 00:06:21,600 --> 00:06:24,640 Speaker 1: stable coins could be used more broadly in traditional finance. 136 00:06:24,680 --> 00:06:27,560 Speaker 1: Think payments, think payroll, even think saving, because. 137 00:06:27,279 --> 00:06:30,400 Speaker 2: Banks and other financial institutions have a clearer rule book 138 00:06:30,440 --> 00:06:31,040 Speaker 2: on how it works. 139 00:06:31,080 --> 00:06:33,479 Speaker 1: And that's a big shift from the wild wild West 140 00:06:33,600 --> 00:06:36,119 Speaker 1: vibes of crypto from just a few years ago. 141 00:06:36,200 --> 00:06:38,920 Speaker 2: Sam so many people think you need a huge deposit 142 00:06:38,960 --> 00:06:41,480 Speaker 2: to buy a home. This month's academy unpacks how lenders 143 00:06:41,480 --> 00:06:44,599 Speaker 2: mortgage insurance could become a shortcut into the property market. 144 00:06:44,640 --> 00:06:46,479 Speaker 2: So if you want to learn more and win some prizes, 145 00:06:46,480 --> 00:06:48,280 Speaker 2: make sure you download the Flux app and check out 146 00:06:48,279 --> 00:06:49,200 Speaker 2: the academy this month. 147 00:06:49,240 --> 00:06:51,680 Speaker 1: Thanks for listening and we'll see you on Friday.