1 00:00:06,400 --> 00:00:09,080 Speaker 1: This is the Saturday edition of Fear and Greed business 2 00:00:09,119 --> 00:00:11,840 Speaker 1: news you can use. I'm Michael Thompson and good morning 3 00:00:11,960 --> 00:00:16,599 Speaker 1: Sean Aylman, Good morning, Michael, Sean. Our Saturday show is 4 00:00:16,960 --> 00:00:19,599 Speaker 1: vastly different to the weekday show. It is about the 5 00:00:19,640 --> 00:00:21,279 Speaker 1: two of us each nominating what we think is the 6 00:00:21,360 --> 00:00:25,200 Speaker 1: biggest business story, the most remarkable story from the week, 7 00:00:25,480 --> 00:00:28,080 Speaker 1: a mystery category that we change up every week just 8 00:00:28,120 --> 00:00:32,600 Speaker 1: to everyone excited on their toes and our favorite story 9 00:00:32,680 --> 00:00:34,479 Speaker 1: as well. And we are joined by a judge to 10 00:00:34,520 --> 00:00:36,919 Speaker 1: pick a winner, because this is a competition between us 11 00:00:36,920 --> 00:00:39,920 Speaker 1: and that judges. Our Fear and Greed colleague Adam Lang Adam, 12 00:00:39,960 --> 00:00:40,800 Speaker 1: good morning. 13 00:00:40,960 --> 00:00:43,400 Speaker 2: Good morning Michael, and good morning Sean. 14 00:00:43,720 --> 00:00:46,159 Speaker 3: And good morning to you, Dan Ski, Good morning to 15 00:00:46,240 --> 00:00:51,600 Speaker 3: you now, Adam May I ask for new listeners very briefly. 16 00:00:51,479 --> 00:00:54,440 Speaker 1: What are you looking for when you're judging Rich? 17 00:00:54,640 --> 00:00:57,320 Speaker 3: It's a bit rich, Michael saying to you very briefly, 18 00:00:58,720 --> 00:00:59,600 Speaker 3: what are you looking for? 19 00:01:00,120 --> 00:01:00,279 Speaker 2: Rich? 20 00:01:00,360 --> 00:01:04,160 Speaker 1: Michael, I have turned over a new brief leaf, Sean. 21 00:01:04,680 --> 00:01:06,760 Speaker 2: This modesty leaf, a fig leaf. 22 00:01:06,640 --> 00:01:08,759 Speaker 1: That's right, and it's all about brevity. 23 00:01:09,560 --> 00:01:13,880 Speaker 2: My criteria topicality, of course, timeliness the big one for 24 00:01:13,959 --> 00:01:17,840 Speaker 2: me is economic impact of your stories. Please play a 25 00:01:17,920 --> 00:01:21,480 Speaker 2: little bit to my subjective bias, and of course we 26 00:01:21,600 --> 00:01:24,400 Speaker 2: love a bit of melodrama, mostly from Michael. 27 00:01:24,800 --> 00:01:28,000 Speaker 1: And for new listeners, the subjective bias is the thing 28 00:01:28,040 --> 00:01:30,360 Speaker 1: that just makes this show go a little bit haywire, 29 00:01:30,480 --> 00:01:36,120 Speaker 1: because Adam's subjective bias and what he believes is riveting 30 00:01:36,319 --> 00:01:40,880 Speaker 1: story is often how do I put this delicately not 31 00:01:42,160 --> 00:01:45,400 Speaker 1: and as a result we get some slightly unusual judgments. 32 00:01:46,440 --> 00:01:49,160 Speaker 3: He is a man of contradictions, though Adam correct because 33 00:01:49,320 --> 00:01:51,680 Speaker 3: you know, if you think of his musical taste incredibly 34 00:01:51,720 --> 00:01:55,640 Speaker 3: wide and varied and interesting, yep, And then you know 35 00:01:56,920 --> 00:02:00,520 Speaker 3: taste in story general business, darlas you know. 36 00:02:02,360 --> 00:02:05,360 Speaker 1: Well, we'll see, we'll see what we can do to 37 00:02:05,440 --> 00:02:08,120 Speaker 1: cater specifically to you a little bit later on a 38 00:02:08,760 --> 00:02:12,920 Speaker 1: little fun surprise for you, a fun surprise which will 39 00:02:13,120 --> 00:02:15,600 Speaker 1: not be fun for anyone else listening to it, but anyway, 40 00:02:15,680 --> 00:02:20,399 Speaker 1: we'll get to that soon. The biggest story, Sean, would 41 00:02:20,440 --> 00:02:22,440 Speaker 1: you like to kick us off, and remember brevity is 42 00:02:22,639 --> 00:02:23,760 Speaker 1: key to this this week. 43 00:02:23,840 --> 00:02:27,040 Speaker 3: Yes, And once again we've sort of taken the war 44 00:02:28,000 --> 00:02:32,000 Speaker 3: in the Middle East as the biggest story, and it's 45 00:02:32,000 --> 00:02:35,040 Speaker 3: sort of the implications of that is really where we're 46 00:02:35,080 --> 00:02:38,720 Speaker 3: talking about now. I mean, it has to be markets crazy, 47 00:02:38,960 --> 00:02:44,120 Speaker 3: crazy week for markets. Oil prices absolutely sword headed towards 48 00:02:44,160 --> 00:02:47,520 Speaker 3: one hundred and twenty US dollars a barrel, then tumbled 49 00:02:47,560 --> 00:02:50,720 Speaker 3: back down towards ninety US dollars barrel, then back above 50 00:02:50,800 --> 00:02:53,920 Speaker 3: one hundred US dollars a barrel. And what that actually 51 00:02:53,960 --> 00:02:56,079 Speaker 3: means for the world now. The reason behind this, of 52 00:02:56,160 --> 00:02:58,320 Speaker 3: course is the war in the Middle East. We have 53 00:02:58,480 --> 00:03:03,760 Speaker 3: had Iraq stopping any movement around its ports, same as Oman. 54 00:03:03,960 --> 00:03:07,200 Speaker 3: That's after attacks on tankers in that region. The straight 55 00:03:07,200 --> 00:03:09,840 Speaker 3: off Hamuz, which carries twenty percent of the world's oil supply, 56 00:03:10,440 --> 00:03:14,280 Speaker 3: has closed effectively. Donald Trump said we will reopen it, 57 00:03:14,680 --> 00:03:18,720 Speaker 3: but that hasn't happened. That the about four hundred million 58 00:03:19,000 --> 00:03:23,720 Speaker 3: barrels of oil will be released from thirty two countries 59 00:03:23,800 --> 00:03:26,120 Speaker 3: as part of all this, but that actually didn't have 60 00:03:26,200 --> 00:03:28,520 Speaker 3: much impact. In fact, on the day those announced oil 61 00:03:28,560 --> 00:03:31,919 Speaker 3: prices actually rose because Donald Trump's words is kind of 62 00:03:31,960 --> 00:03:35,160 Speaker 3: losing their currency in this and that's a real problem. 63 00:03:35,440 --> 00:03:38,040 Speaker 3: This of course flows through the petrol prices. Midterm elections 64 00:03:38,040 --> 00:03:40,040 Speaker 3: in the US are the asset prices, so the local 65 00:03:40,040 --> 00:03:42,880 Speaker 3: equity market got hit hard a couple of times this 66 00:03:42,920 --> 00:03:48,240 Speaker 3: week inflation expectations just you know, oil hits the price 67 00:03:48,280 --> 00:03:51,960 Speaker 3: of most goods that are transported around the world because 68 00:03:52,000 --> 00:03:56,800 Speaker 3: of course transport uses oil. So the price of oil 69 00:03:57,120 --> 00:04:00,080 Speaker 3: and what that has meant for markets this week is 70 00:04:00,120 --> 00:04:04,440 Speaker 3: far and away the biggest story. And the sad thing 71 00:04:04,520 --> 00:04:06,880 Speaker 3: is as we sort of sit here on a Saturday morning, 72 00:04:07,440 --> 00:04:10,640 Speaker 3: it's not clear that there's any solution to it because 73 00:04:10,640 --> 00:04:13,640 Speaker 3: it's not like Donald Trump seems to have a plan 74 00:04:14,280 --> 00:04:18,280 Speaker 3: about what comes next. And big big story. 75 00:04:18,279 --> 00:04:22,279 Speaker 1: Which is it's a familiar situation, isn't it for pretty 76 00:04:22,320 --> 00:04:25,920 Speaker 1: much any conflict over the last twenty five years? Right, 77 00:04:26,000 --> 00:04:28,599 Speaker 1: get in there, do it. But what comes next is 78 00:04:28,600 --> 00:04:29,279 Speaker 1: the big question. 79 00:04:29,640 --> 00:04:31,880 Speaker 3: But mostly people have some idea of what I mean. 80 00:04:32,040 --> 00:04:38,560 Speaker 3: I suppose when George Bush invaded Iraq, the idea was 81 00:04:38,600 --> 00:04:41,320 Speaker 3: that they'd bomb and there'd been uprising and the people 82 00:04:41,360 --> 00:04:44,200 Speaker 3: would take over. And it's a little bit the same 83 00:04:44,440 --> 00:04:51,080 Speaker 3: here and it's not really happening. So yeah, it's challenge, 84 00:04:51,680 --> 00:04:53,200 Speaker 3: it is, And I mean, this is the big one 85 00:04:53,200 --> 00:04:55,240 Speaker 3: for Donald Trump because this could do it me quite 86 00:04:55,279 --> 00:04:57,279 Speaker 3: easily because at the end of the day, people vote 87 00:04:57,320 --> 00:05:01,120 Speaker 3: with their hip pocket midterm elections this year and if 88 00:05:01,240 --> 00:05:03,200 Speaker 3: gas prices in the US have gone through the roof 89 00:05:03,640 --> 00:05:06,400 Speaker 3: and he's in trouble indeed. Yeah, so you agree, Michael, 90 00:05:06,400 --> 00:05:07,240 Speaker 3: bigger story of the week. 91 00:05:07,760 --> 00:05:13,640 Speaker 1: It it feels like you just went stream on that 92 00:05:13,720 --> 00:05:14,479 Speaker 1: one nil. 93 00:05:14,760 --> 00:05:14,920 Speaker 3: No. 94 00:05:15,320 --> 00:05:18,400 Speaker 1: The thing is what it means specifically for us here, 95 00:05:18,440 --> 00:05:21,120 Speaker 1: and you did touch on this inflation expectations and what 96 00:05:21,160 --> 00:05:25,599 Speaker 1: it means for inflation here in Australia and interest rates 97 00:05:25,640 --> 00:05:28,240 Speaker 1: in particular, and basically you boil it all down to 98 00:05:28,320 --> 00:05:30,080 Speaker 1: the fact that in the end we are going to 99 00:05:30,360 --> 00:05:35,000 Speaker 1: likely see an interest rate hike in one, two, three 100 00:05:35,120 --> 00:05:37,080 Speaker 1: days time. So I had to count that out in 101 00:05:37,160 --> 00:05:41,000 Speaker 1: my head. Tuesday is because well I'll do it in 102 00:05:41,040 --> 00:05:43,880 Speaker 1: sleeps Saturday night, Sunday night, Monday night, three sleeps, three 103 00:05:43,920 --> 00:05:46,719 Speaker 1: sleep just like when I'm explaining something to the kids. 104 00:05:46,839 --> 00:05:51,680 Speaker 1: It's in three sleeps, all right. And most interesting, I 105 00:05:51,680 --> 00:05:54,920 Speaker 1: think the most telling perhaps was Deputy Governor Reserve Bank 106 00:05:55,000 --> 00:05:57,960 Speaker 1: Deputy Governor Andrew Howser and his comments last week. 107 00:05:58,000 --> 00:06:01,159 Speaker 3: His nicknames Doogie one would hope right. 108 00:06:01,480 --> 00:06:04,719 Speaker 1: If not, it's a missed opportunity, he said, failing to 109 00:06:04,800 --> 00:06:06,960 Speaker 1: raise rates to the level they need to be and 110 00:06:07,040 --> 00:06:10,560 Speaker 1: allowing inflation to get out of control is a clear problem. 111 00:06:10,960 --> 00:06:14,000 Speaker 1: We've already got a bit of an inflation challenge here, 112 00:06:14,279 --> 00:06:17,000 Speaker 1: and as you pointed out, Sean, the oil problem is 113 00:06:17,120 --> 00:06:20,160 Speaker 1: not going away, it is adding to it. All four 114 00:06:20,200 --> 00:06:23,000 Speaker 1: big banks are now tipping a rate hikes, bond markets 115 00:06:23,000 --> 00:06:25,480 Speaker 1: are tipping rate hikes, but the big banks tipping an 116 00:06:25,480 --> 00:06:27,880 Speaker 1: increase of four point one percent in three sleeps time, 117 00:06:28,240 --> 00:06:32,440 Speaker 1: four point three five percent in May. So two more 118 00:06:32,640 --> 00:06:35,280 Speaker 1: rate hikes at the next two meetings, back to back 119 00:06:35,440 --> 00:06:40,080 Speaker 1: rate hikes, and Treasure Jim Chalmers as well is predicting 120 00:06:40,520 --> 00:06:45,440 Speaker 1: that this talk now that the May budget will forecast 121 00:06:45,480 --> 00:06:48,680 Speaker 1: inflation to be in the high four percent range. So 122 00:06:48,760 --> 00:06:53,640 Speaker 1: this is this is a big, big challenge three sleeps time, 123 00:06:54,040 --> 00:06:57,200 Speaker 1: biggest story of the week. And I know, actually I'm 124 00:06:57,600 --> 00:07:01,560 Speaker 1: having a flashback now to the last time there is 125 00:07:01,600 --> 00:07:04,360 Speaker 1: a bankboard met and for three weeks prior to that, 126 00:07:04,680 --> 00:07:07,800 Speaker 1: I tried to get interest rate hikes up as the 127 00:07:07,839 --> 00:07:11,120 Speaker 1: biggest story of the week before it happened, and on 128 00:07:11,200 --> 00:07:14,720 Speaker 1: none of those occasions was I successful. That all changes 129 00:07:14,800 --> 00:07:15,480 Speaker 1: right now. 130 00:07:15,560 --> 00:07:20,160 Speaker 3: You're supposing that we've got consistency in judgment here. 131 00:07:21,800 --> 00:07:24,080 Speaker 1: Thank you. Sean, I'd forgotten about that. So you know 132 00:07:24,160 --> 00:07:27,080 Speaker 1: what Adam over to you, anything that happened now? 133 00:07:28,280 --> 00:07:33,040 Speaker 2: Donald Trump's words are losing their currency. Great statement, Sean, 134 00:07:33,840 --> 00:07:36,960 Speaker 2: I thought that was good. Yeah, and Doogie House, I 135 00:07:36,960 --> 00:07:40,400 Speaker 2: have thought of that. But interest rates going up over 136 00:07:40,440 --> 00:07:43,239 Speaker 2: the next two RBO meetings to four point thirty five. 137 00:07:43,360 --> 00:07:46,760 Speaker 2: So yeah, the priorities inflation, the catalyst. The real cause 138 00:07:46,800 --> 00:07:51,840 Speaker 2: behind this is oil. So Sean has to win the USA, 139 00:07:52,080 --> 00:07:55,880 Speaker 2: and self sufficiency in oil is such a major factor, right, 140 00:07:55,960 --> 00:07:58,920 Speaker 2: they don't need to import and so on the domestic front. 141 00:07:59,480 --> 00:08:03,360 Speaker 2: Will that in Donald Trump from blowback over over this 142 00:08:03,400 --> 00:08:08,360 Speaker 2: war to an extent? And he's a chaotic president, but 143 00:08:08,400 --> 00:08:10,120 Speaker 2: I wonder if that might save him a little bit 144 00:08:10,120 --> 00:08:12,120 Speaker 2: on this one. Sean wins. 145 00:08:13,560 --> 00:08:17,040 Speaker 1: That's a good point, or a good question about how 146 00:08:17,120 --> 00:08:21,640 Speaker 1: much that their own prices can insulate them. But I mean, 147 00:08:21,680 --> 00:08:25,520 Speaker 1: it's it's it's that's only just part of it, right, 148 00:08:25,720 --> 00:08:28,040 Speaker 1: all of the global forces they would still be subjected 149 00:08:28,080 --> 00:08:30,360 Speaker 1: to right now, You're right sure, and they have risen 150 00:08:30,480 --> 00:08:32,480 Speaker 1: and they're expecting them to keep going in the States, 151 00:08:32,520 --> 00:08:36,439 Speaker 1: aren't they. So isn't it. 152 00:08:37,840 --> 00:08:39,679 Speaker 3: Well, there's all the stories this week about the e 153 00:08:39,800 --> 00:08:42,840 Speaker 3: V I mean EV's suddenly being in high to my aunt. 154 00:08:43,280 --> 00:08:45,440 Speaker 3: Now some of us have recently bought an e V. 155 00:08:47,880 --> 00:08:48,640 Speaker 1: Loving to hotel. 156 00:08:49,960 --> 00:08:53,360 Speaker 3: Yes, what we bought, we bought. We were never ever 157 00:08:53,360 --> 00:08:55,960 Speaker 3: going to buy a Tesla because Ela Musk's a winker, 158 00:08:56,400 --> 00:09:01,760 Speaker 3: you know. And they were by and we drive one, 159 00:09:02,760 --> 00:09:06,840 Speaker 3: it's like, oh wow, you'd better get one of these. 160 00:09:08,480 --> 00:09:12,600 Speaker 3: But the point, the point became your misgiving. We haven't Yes, 161 00:09:12,640 --> 00:09:14,600 Speaker 3: we haven't quite got the soul of thing going yet. 162 00:09:14,640 --> 00:09:19,000 Speaker 3: So we have two cars. One costs about one hundred 163 00:09:19,000 --> 00:09:21,120 Speaker 3: and thirty dollars to fill up this week and the 164 00:09:21,120 --> 00:09:24,000 Speaker 3: other one costs about thirty dollars to fill up this week. 165 00:09:24,720 --> 00:09:27,920 Speaker 3: The EV charge costs thirty dollars at a high speed charger. 166 00:09:29,080 --> 00:09:30,559 Speaker 2: Total game changer, isn't it. 167 00:09:30,920 --> 00:09:33,760 Speaker 3: Yeah, that's awesome. If you're saving yourself one hundred dollars 168 00:09:33,800 --> 00:09:36,640 Speaker 3: a week, it's yeah. 169 00:09:36,600 --> 00:09:38,640 Speaker 2: And enjoying fifty weeks of driving. 170 00:09:38,360 --> 00:09:41,040 Speaker 3: The cots of money. It's just I mean, they are 171 00:09:41,080 --> 00:09:41,680 Speaker 3: great to drive. 172 00:09:41,840 --> 00:09:43,800 Speaker 2: Do you get a few honks of affirmation as you 173 00:09:43,880 --> 00:09:46,000 Speaker 2: drive your Tesla? Bi Sean people. 174 00:09:47,440 --> 00:09:49,520 Speaker 3: They all look at you, they all know what you life. 175 00:09:50,600 --> 00:09:54,840 Speaker 1: Yeah, isn't that funny? You know, the like the driver habits, 176 00:09:54,960 --> 00:09:56,760 Speaker 1: like if you see someone might I used to drive 177 00:09:56,800 --> 00:09:59,880 Speaker 1: an Alpha would always kind of acknowledge other Alpha drivers 178 00:10:00,040 --> 00:10:05,360 Speaker 1: because they're quite seven of you. 179 00:10:05,360 --> 00:10:05,440 Speaker 3: You. 180 00:10:05,559 --> 00:10:05,760 Speaker 2: Yeah. 181 00:10:05,800 --> 00:10:08,320 Speaker 1: Although the best part was when I had a Toyota Sleika, 182 00:10:08,440 --> 00:10:11,240 Speaker 1: a nineteen eighty nine Toyota Salika white lightning with the 183 00:10:11,240 --> 00:10:14,000 Speaker 1: pop up headlights. That got some attention because of the 184 00:10:14,000 --> 00:10:16,400 Speaker 1: pop up headlights, right, so you could actually do you 185 00:10:16,400 --> 00:10:19,760 Speaker 1: a little kind of did. 186 00:10:19,280 --> 00:10:20,520 Speaker 3: Michael, You're an odd person. 187 00:10:21,240 --> 00:10:27,440 Speaker 1: I've never suggested otherwise. Sure, I embrace oddness. Let's you know, 188 00:10:28,080 --> 00:10:30,640 Speaker 1: we need to bring a little bit more melodrama to today. 189 00:10:30,679 --> 00:10:34,839 Speaker 1: It feels like we started quite flat. Let's get into 190 00:10:34,880 --> 00:10:39,080 Speaker 1: the most remarkable category and we've actually done a little 191 00:10:39,080 --> 00:10:42,080 Speaker 1: bit of a sub category for this one. It is 192 00:10:42,200 --> 00:10:47,840 Speaker 1: most remarkable how AI is changing the world, right, and 193 00:10:47,880 --> 00:10:50,040 Speaker 1: we're suggesting that this change has happened in the last 194 00:10:50,080 --> 00:10:58,360 Speaker 1: seven days, which we reach That's right, okay, am I 195 00:10:58,400 --> 00:11:02,240 Speaker 1: going first on this one? All right, all right? At Lassian, 196 00:11:03,280 --> 00:11:09,199 Speaker 1: Adam and Lassian dominating AI headlines this week because at Lassian, 197 00:11:09,240 --> 00:11:13,679 Speaker 1: which has been the poster child of tech success from Australia, 198 00:11:13,760 --> 00:11:18,040 Speaker 1: it has been a homegrown technology success story listed in 199 00:11:18,080 --> 00:11:22,440 Speaker 1: the US and it's just been and has created enormous wealth, 200 00:11:22,520 --> 00:11:26,320 Speaker 1: in particular for the two co founders at Scott Farquhar 201 00:11:26,400 --> 00:11:31,760 Speaker 1: and Mike cannon Brooks. Anyway, this week ten percent of 202 00:11:31,880 --> 00:11:35,959 Speaker 1: jobs cut, one thousand, six hundred jobs, about five hundred 203 00:11:36,080 --> 00:11:38,320 Speaker 1: of them here. That is a big chunk of a 204 00:11:38,360 --> 00:11:42,120 Speaker 1: workforce to be gone. But it makes it one of 205 00:11:42,160 --> 00:11:48,720 Speaker 1: the especially locally, probably the highest profile victim of AI 206 00:11:48,840 --> 00:11:51,280 Speaker 1: and a victim of almost of its own success in 207 00:11:51,280 --> 00:11:54,200 Speaker 1: introducing and implementing AI. And this all goes back to 208 00:11:54,240 --> 00:11:57,240 Speaker 1: what we were talked about many times now with the 209 00:11:57,320 --> 00:12:00,480 Speaker 1: SAS apocalypse, with this idea that AI is going to 210 00:12:00,880 --> 00:12:06,480 Speaker 1: kind of eat into the profitability of companies, of software 211 00:12:06,520 --> 00:12:10,920 Speaker 1: companies in particular people able to replicate their own functions 212 00:12:10,960 --> 00:12:14,440 Speaker 1: that software companies are able to do. Anyway, Mike Cannibrooks basically, 213 00:12:14,480 --> 00:12:16,640 Speaker 1: so that's not the case. Basically, we're actually kind of 214 00:12:16,760 --> 00:12:18,960 Speaker 1: using AI so effectively. What we're going to do as 215 00:12:18,960 --> 00:12:21,480 Speaker 1: well is cut all of these jobs, put that money 216 00:12:21,520 --> 00:12:25,719 Speaker 1: now into even more AI improvement. We're going to make 217 00:12:25,760 --> 00:12:29,000 Speaker 1: the company operate even better. You do have to feel 218 00:12:29,080 --> 00:12:31,760 Speaker 1: for one of those jobs that was lost was the 219 00:12:31,840 --> 00:12:34,920 Speaker 1: Chief Technology Officer, and there seems to be almost a 220 00:12:34,960 --> 00:12:39,040 Speaker 1: certain irony in the CTO, which should probably have a 221 00:12:39,080 --> 00:12:44,600 Speaker 1: key role in introducing and implementing AI. And now he 222 00:12:44,840 --> 00:12:48,120 Speaker 1: was one of the casualties of these job cuts this week. 223 00:12:48,160 --> 00:12:50,520 Speaker 1: And I just think it is extraordinary that this is 224 00:12:50,600 --> 00:12:56,800 Speaker 1: now kind of hitting Australia's most successful You know, it's 225 00:12:56,840 --> 00:12:59,520 Speaker 1: always high risk where you actually try. Yeah, most I 226 00:12:59,559 --> 00:13:02,680 Speaker 1: was going to say most successful a very successful but 227 00:13:02,960 --> 00:13:05,600 Speaker 1: most high profile tech company. 228 00:13:05,600 --> 00:13:09,679 Speaker 3: English is very good. You odd man, disastrous? 229 00:13:09,800 --> 00:13:10,320 Speaker 2: Wasn't it. 230 00:13:12,720 --> 00:13:19,120 Speaker 1: Just blundering my way through that? But anyway, AI remarkable 231 00:13:19,120 --> 00:13:23,280 Speaker 1: stuff this week this week that actually did happen this week, 232 00:13:23,360 --> 00:13:25,280 Speaker 1: So there you go, Yes, it did. 233 00:13:26,000 --> 00:13:28,600 Speaker 3: Second most remarkable thing though, that happened in AI this week. 234 00:13:28,720 --> 00:13:33,960 Speaker 3: This week Anthropic said it's heading to Australia. In the 235 00:13:34,000 --> 00:13:38,640 Speaker 3: world of large language models, there's a bunch of really 236 00:13:38,640 --> 00:13:41,320 Speaker 3: big Chinese ones. In fact, the top ten larger language 237 00:13:41,320 --> 00:13:44,079 Speaker 3: models are Chinese. Larger language models are the things that 238 00:13:44,200 --> 00:13:48,840 Speaker 3: power AI. But in the English speaking world there really 239 00:13:48,880 --> 00:13:53,480 Speaker 3: are three big ones Chat GPT, Gemini from Google, and 240 00:13:53,600 --> 00:13:57,880 Speaker 3: Claude from Anthropic. Now within Chat GBT, Gemini and Claude. 241 00:13:57,880 --> 00:14:00,640 Speaker 3: There's all sorts of different versions and what not. There's 242 00:14:00,679 --> 00:14:04,040 Speaker 3: also Elon Musk's rock ventures now as a tesla driver. 243 00:14:04,080 --> 00:14:06,080 Speaker 3: I mentioned that, but that's not really a major player. 244 00:14:06,280 --> 00:14:09,760 Speaker 3: The best depends on what you're trying to do. But Claude, 245 00:14:10,280 --> 00:14:14,199 Speaker 3: particularly at an enterprise level, has plenty of supporters. 246 00:14:14,640 --> 00:14:18,800 Speaker 1: Australia is actually over over represented in that, Like Australia 247 00:14:18,840 --> 00:14:22,920 Speaker 1: has really really embraced Claude. You a fourth in the 248 00:14:22,960 --> 00:14:27,960 Speaker 1: world per capita usage of Claude. Yeah, it's really really high. 249 00:14:28,040 --> 00:14:30,440 Speaker 1: Sorry interrupt, No, no, no, add to my story. 250 00:14:30,440 --> 00:14:31,880 Speaker 2: I enhanced your story. 251 00:14:32,040 --> 00:14:35,400 Speaker 1: Yeah, considering you just left me stranded and alone on 252 00:14:35,480 --> 00:14:37,400 Speaker 1: my story. It didn't help me out except to point 253 00:14:37,440 --> 00:14:40,240 Speaker 1: out how much I was butchering the English language. 254 00:14:40,280 --> 00:14:40,520 Speaker 2: Go on. 255 00:14:41,640 --> 00:14:43,680 Speaker 3: It probably was number one. The US is probably the 256 00:14:43,720 --> 00:14:45,800 Speaker 3: number one with US, but not anymore because it is 257 00:14:45,800 --> 00:14:49,320 Speaker 3: having a full on stout with Trump administration. Anthropic basically 258 00:14:49,360 --> 00:14:51,360 Speaker 3: Pentagon came out and said it's risky. All these government 259 00:14:51,360 --> 00:14:55,000 Speaker 3: departments decided to shift off Anthropic. They're now being sued, 260 00:14:55,040 --> 00:14:56,640 Speaker 3: but let's park that for a moment. 261 00:14:57,160 --> 00:14:57,520 Speaker 1: Anyway. 262 00:14:57,600 --> 00:15:00,680 Speaker 3: The point is Anthropic, owner of Claw about to set 263 00:15:00,720 --> 00:15:03,800 Speaker 3: up It's Australia and New Zealand operations in Sydney will 264 00:15:03,840 --> 00:15:07,920 Speaker 3: potentially invest in data centers. Now, this sort of thing 265 00:15:07,960 --> 00:15:11,680 Speaker 3: puts Australia front and center in the AI world when 266 00:15:11,720 --> 00:15:14,560 Speaker 3: one of the biggest of them, one of the three 267 00:15:14,640 --> 00:15:18,960 Speaker 3: biggest English speaking ones at least, sets up in Australia. 268 00:15:19,320 --> 00:15:22,680 Speaker 3: We know the local government here wants to invest in 269 00:15:22,800 --> 00:15:24,800 Speaker 3: data centers because they invest the two hundred million dollars 270 00:15:24,840 --> 00:15:28,840 Speaker 3: in Quarry Technology this week. This move by Anthropy is 271 00:15:28,880 --> 00:15:32,520 Speaker 3: actually a really big deal in the world of AI 272 00:15:32,600 --> 00:15:35,400 Speaker 3: and where Australia sits in it. And the government has 273 00:15:35,440 --> 00:15:39,080 Speaker 3: said and experts agree, we need to be AI literate, 274 00:15:39,200 --> 00:15:41,040 Speaker 3: like that's kind of the best thing we can do 275 00:15:41,560 --> 00:15:46,440 Speaker 3: in terms of taking advantage of the AI revolution is 276 00:15:46,520 --> 00:15:49,200 Speaker 3: be AI literate and more literate than others. And this 277 00:15:49,280 --> 00:15:52,560 Speaker 3: is what it's about. It's actually it's quite remarkable that 278 00:15:52,600 --> 00:15:53,200 Speaker 3: they've picked us. 279 00:15:53,480 --> 00:15:57,280 Speaker 1: No is it though it's its fourth Asia Pacific center, 280 00:15:57,520 --> 00:16:00,800 Speaker 1: sean number four on the Asia specific list. 281 00:16:01,160 --> 00:16:04,920 Speaker 3: There's no there's no rebuttal here well actually, but some 282 00:16:04,960 --> 00:16:07,720 Speaker 3: of those are actually about technology workers and where they 283 00:16:07,760 --> 00:16:12,440 Speaker 3: are that there's none close to us anyway. 284 00:16:12,880 --> 00:16:16,560 Speaker 1: Look, I mean clearly it Lassian is the most remarkable 285 00:16:16,560 --> 00:16:18,000 Speaker 1: story of the week, don't you agree? 286 00:16:18,040 --> 00:16:22,479 Speaker 3: Adam's atty bit titchy here. 287 00:16:21,920 --> 00:16:25,720 Speaker 1: Sean, I'm doing this. This isn't for me, right, And 288 00:16:25,760 --> 00:16:27,880 Speaker 1: I just want to clear this up that I don't 289 00:16:27,880 --> 00:16:30,960 Speaker 1: come in here arguing for me because I'm an argumentative person. 290 00:16:31,840 --> 00:16:34,640 Speaker 1: I'm representing the people. I don't know how to make 291 00:16:34,680 --> 00:16:38,560 Speaker 1: that any clear. And in particular I'm representing I've. 292 00:16:38,680 --> 00:16:41,240 Speaker 2: Heard broad, broad shoulders carrying. 293 00:16:41,440 --> 00:16:45,040 Speaker 1: That is enough out of you, Adam. I'm representing Emily, 294 00:16:46,120 --> 00:16:49,680 Speaker 1: that that, yes, that Sean and I met in the 295 00:16:49,800 --> 00:16:54,040 Speaker 1: queue at the airport just over a week ago, who 296 00:16:54,120 --> 00:16:56,000 Speaker 1: was just happened to be listening to fear and greed 297 00:16:56,000 --> 00:16:57,800 Speaker 1: at the moment at the time that she that she 298 00:16:57,880 --> 00:17:03,160 Speaker 1: bumped into us. And this is for you, Emily, Adam, judge, 299 00:17:03,200 --> 00:17:06,679 Speaker 1: i'b behalf of me on, behalf of the people on, 300 00:17:06,760 --> 00:17:09,640 Speaker 1: behalf of Emily, and take full responsibility for your words 301 00:17:09,680 --> 00:17:10,240 Speaker 1: and actions. 302 00:17:10,520 --> 00:17:16,400 Speaker 2: Okay. Both actual stories are really hard to split in 303 00:17:16,440 --> 00:17:19,080 Speaker 2: my view, I think, and the sub elements within it 304 00:17:19,119 --> 00:17:22,840 Speaker 2: so anthropic. Saying no to the US government requirement that 305 00:17:22,880 --> 00:17:26,520 Speaker 2: it wouldn't allow basically information on the people to be seen. 306 00:17:26,560 --> 00:17:29,560 Speaker 2: I thought anthropic standing up to the US government was 307 00:17:29,840 --> 00:17:33,679 Speaker 2: absolutely incredible and important step right, because it takes a 308 00:17:33,680 --> 00:17:37,679 Speaker 2: lot to say no to Trump. So that's a huge story. 309 00:17:37,760 --> 00:17:40,760 Speaker 2: And moving in here, I think that's just interesting as 310 00:17:40,840 --> 00:17:44,520 Speaker 2: Atlassian is moving ten percent of its people out, so 311 00:17:44,680 --> 00:17:47,400 Speaker 2: that is just on the scale of people impacted here, 312 00:17:47,400 --> 00:17:51,720 Speaker 2: I'm going on this one at Lassian Wins, Michael Wins. 313 00:17:51,640 --> 00:17:54,679 Speaker 1: Emily, thanks you, I thank you, the people, thank you. 314 00:17:54,720 --> 00:17:57,439 Speaker 1: The coup has been averted to. 315 00:17:57,440 --> 00:18:00,119 Speaker 3: Talk about Wisteak Global already done the sacking, all that 316 00:18:00,119 --> 00:18:01,560 Speaker 3: sort of stuff, you know, but we won't gather. 317 00:18:05,720 --> 00:18:08,160 Speaker 1: Yeah, but the judgment has been made and the judgment 318 00:18:08,160 --> 00:18:10,800 Speaker 1: cannot be changed. As we've established in the past. We'll 319 00:18:10,800 --> 00:18:12,440 Speaker 1: take a very quick break back in a moment with 320 00:18:12,520 --> 00:18:22,159 Speaker 1: our mystery category. All right, we are now looking it 321 00:18:22,240 --> 00:18:24,760 Speaker 1: is one oldest to clear that up. We're now looking 322 00:18:24,760 --> 00:18:29,080 Speaker 1: for our mystery category. And Sean this week we're really 323 00:18:29,160 --> 00:18:33,720 Speaker 1: kind of catering. We've catered for Adam's subjective. 324 00:18:33,320 --> 00:18:35,399 Speaker 3: Bias on this one. 325 00:18:35,760 --> 00:18:43,200 Speaker 1: We have dubbed this the eyes glaze over category, which 326 00:18:43,240 --> 00:18:45,400 Speaker 1: are stories that look they are worthy. 327 00:18:46,119 --> 00:18:47,560 Speaker 2: I think I've seen that look. 328 00:18:48,320 --> 00:18:51,320 Speaker 1: But there is a tendency that when you hear it. 329 00:18:51,320 --> 00:18:54,080 Speaker 3: It's just a little bit of a glaze. 330 00:18:54,080 --> 00:18:57,800 Speaker 1: In the eye, but not for one person one a 331 00:18:57,920 --> 00:19:02,479 Speaker 1: damn ski Lang who will remain very throughout. 332 00:19:03,200 --> 00:19:06,359 Speaker 3: Okay, let me go. I have two words for you. 333 00:19:06,400 --> 00:19:12,160 Speaker 3: Adam tax reform. 334 00:19:12,960 --> 00:19:13,560 Speaker 2: There it is. 335 00:19:14,480 --> 00:19:17,440 Speaker 3: We know it's on. Adam, it's on. Jim this week 336 00:19:17,520 --> 00:19:21,000 Speaker 3: said the Middle East wouldn't stop major tax reform. We 337 00:19:21,080 --> 00:19:23,800 Speaker 3: know capital gains tax on the agenda, may be reducing 338 00:19:23,840 --> 00:19:27,080 Speaker 3: the rate for housing investors, maybe making it retrospective. We 339 00:19:27,160 --> 00:19:31,520 Speaker 3: had a Leger Spender's proposal. What an amazing proposal cont 340 00:19:31,520 --> 00:19:34,000 Speaker 3: tax for the typical full time worker by sixteen hundred 341 00:19:34,000 --> 00:19:36,800 Speaker 3: dollars a year, fund that by higher level on a 342 00:19:36,840 --> 00:19:40,520 Speaker 3: couple of gains so high, a couple of gains tax trusts, 343 00:19:41,000 --> 00:19:46,160 Speaker 3: and phasing out negative gearing. Adam, tax reform, it's on. 344 00:19:46,560 --> 00:19:48,359 Speaker 3: If we didn't have this war in the Middle East, 345 00:19:48,840 --> 00:19:53,920 Speaker 3: the main story we would be talking about every week. 346 00:19:53,880 --> 00:19:56,119 Speaker 2: In the the headlines. 347 00:19:56,040 --> 00:20:00,520 Speaker 3: Is tax tax. It's sort of been pushed back because 348 00:20:00,520 --> 00:20:03,399 Speaker 3: of a Lego spender this week Jim Chalmers talking about 349 00:20:03,720 --> 00:20:04,480 Speaker 3: we are going to. 350 00:20:04,440 --> 00:20:05,440 Speaker 1: Have a reform. 351 00:20:05,520 --> 00:20:05,720 Speaker 2: You know. 352 00:20:05,760 --> 00:20:07,480 Speaker 3: The problem with all this for the government, of course, 353 00:20:08,000 --> 00:20:10,360 Speaker 3: is that if it comes out in the May budget 354 00:20:10,359 --> 00:20:13,560 Speaker 3: and says we're dropping the capital gains tax concession or 355 00:20:13,640 --> 00:20:15,600 Speaker 3: rate from fifty to thirty three percent. We're not making 356 00:20:15,680 --> 00:20:18,720 Speaker 3: retrospective that won't raise much more money, not the short 357 00:20:18,800 --> 00:20:22,680 Speaker 3: term anyway. And they're saying major tax reform that ain't 358 00:20:22,720 --> 00:20:25,640 Speaker 3: major tax reform. Major tax reform is actually you know, 359 00:20:26,080 --> 00:20:30,680 Speaker 3: reducing income tax, upping Invalua of taxes, that sort of thing. Yeah, 360 00:20:30,880 --> 00:20:33,120 Speaker 3: but the government's setting itself up for a fore there. 361 00:20:33,160 --> 00:20:37,760 Speaker 3: But notwithstanding that tax reform stuff that your eyes glaze over, 362 00:20:38,000 --> 00:20:39,359 Speaker 3: except not you, Adam. 363 00:20:39,680 --> 00:20:42,280 Speaker 1: That's Adam is problem on the mailing list for a 364 00:20:42,359 --> 00:20:44,920 Speaker 1: lego spender's tax WI my life quest. 365 00:20:45,280 --> 00:20:45,800 Speaker 3: That's right? 366 00:20:46,760 --> 00:20:50,880 Speaker 1: Does that tax white paper from a leg respender do anything? 367 00:20:51,400 --> 00:20:52,760 Speaker 1: I just I'm just curious. 368 00:20:53,280 --> 00:20:56,320 Speaker 3: I mean a bustle here rebuttal once again? No, no, no, 369 00:20:56,359 --> 00:20:57,680 Speaker 3: it's not. It's not a rebuttal. 370 00:20:57,760 --> 00:21:00,240 Speaker 1: It is it is out of genuine curiosity and san 371 00:21:00,320 --> 00:21:07,120 Speaker 1: you have worked in Canberra. Does an MP, an independent 372 00:21:07,320 --> 00:21:10,080 Speaker 1: MP doing this? I mean, obviously it's not going to 373 00:21:10,119 --> 00:21:12,840 Speaker 1: be introduced into parliament, that is not going to form 374 00:21:12,880 --> 00:21:15,400 Speaker 1: the basis of legislation. But does it help in terms 375 00:21:15,440 --> 00:21:20,640 Speaker 1: of increasing pressure starting conversations or is it just noise. 376 00:21:21,720 --> 00:21:24,080 Speaker 3: At the margins. I mean, Ken Henry read a great 377 00:21:24,119 --> 00:21:26,040 Speaker 3: taxpaper twenty years ago and he was the head of 378 00:21:26,040 --> 00:21:29,320 Speaker 3: Treasury and everyone ignored that one a legal spender, probably 379 00:21:29,359 --> 00:21:31,280 Speaker 3: not going to have much more success. I mean, it's 380 00:21:31,320 --> 00:21:34,600 Speaker 3: really it keeps the conversation going and she's got a profile, 381 00:21:34,880 --> 00:21:38,880 Speaker 3: so it is it's all party to the debate. 382 00:21:39,320 --> 00:21:44,960 Speaker 1: Yeah, okay, Adam braced yourself. I'm talking about a little 383 00:21:45,000 --> 00:21:46,040 Speaker 1: bit more politics. 384 00:21:46,359 --> 00:21:47,040 Speaker 2: Here we go. 385 00:21:47,840 --> 00:21:52,240 Speaker 1: New Nationals leader this week David Little Proud out the 386 00:21:52,280 --> 00:21:55,560 Speaker 1: door or took himself out. He resigned, saying that he 387 00:21:55,760 --> 00:21:59,680 Speaker 1: what was the quote, Sean, I'm buggered I can't keep 388 00:21:59,720 --> 00:22:01,720 Speaker 1: going such an Australian way to resign. 389 00:22:01,960 --> 00:22:03,960 Speaker 3: Yeah, why don't you want to leader of the National Party? 390 00:22:04,119 --> 00:22:07,600 Speaker 3: Hum bargain? Right? Good, excellent, good God? 391 00:22:09,040 --> 00:22:14,080 Speaker 1: Who wouldn't be presiding over two coalition splits in less 392 00:22:14,119 --> 00:22:20,080 Speaker 1: than a year. Matt Canavan the new leader of the party, 393 00:22:20,320 --> 00:22:23,000 Speaker 1: and I just think this is fascinating, right, And I 394 00:22:23,040 --> 00:22:25,280 Speaker 1: don't know what to make of this because he is 395 00:22:25,320 --> 00:22:30,200 Speaker 1: a very very conservative politician and he was talking about 396 00:22:30,200 --> 00:22:32,639 Speaker 1: this week basically that he needs to go and the 397 00:22:32,720 --> 00:22:35,959 Speaker 1: National Party and the Australian people need to go hyper Australian, 398 00:22:36,000 --> 00:22:39,719 Speaker 1: more Australian jobs, more Australian humor, more Australian values. What 399 00:22:39,800 --> 00:22:44,480 Speaker 1: was it, more more Australian barbecues cooked on Australian coal 400 00:22:44,600 --> 00:22:46,920 Speaker 1: or something along those lines, which gives you a very 401 00:22:47,000 --> 00:22:49,919 Speaker 1: clear idea of where the National Party is going to 402 00:22:49,920 --> 00:22:51,480 Speaker 1: be heading the big. 403 00:22:51,640 --> 00:22:54,840 Speaker 3: He's a man who contradictions to Matt Canavan. Yeah ah 404 00:22:54,880 --> 00:23:01,040 Speaker 3: my word, both Marxist and conservative, like, I don't get him. 405 00:23:01,640 --> 00:23:04,879 Speaker 1: The interesting thing is though, he is actually a relatively 406 00:23:04,920 --> 00:23:08,520 Speaker 1: good retail politician in terms of he is going to 407 00:23:08,560 --> 00:23:10,880 Speaker 1: be able to cut through. I suspect in a way 408 00:23:10,880 --> 00:23:14,840 Speaker 1: that David Little Prowd couldn't and didn't, in that he 409 00:23:14,880 --> 00:23:19,040 Speaker 1: does have a knack for crafting some good lines and 410 00:23:19,080 --> 00:23:21,600 Speaker 1: he tells you exactly what he thinks, which. 411 00:23:21,400 --> 00:23:24,200 Speaker 3: He's not like Barnaby Joyce, but he's more like Barnaby Joyce. 412 00:23:24,280 --> 00:23:26,840 Speaker 1: He is yeah, yeah, yeah, you're right. And so suddenly 413 00:23:27,000 --> 00:23:29,399 Speaker 1: you go, okay, where are we at now with the 414 00:23:29,440 --> 00:23:33,360 Speaker 1: conservative side of politics in Australia. We have got Angus 415 00:23:33,400 --> 00:23:37,080 Speaker 1: Taylor who doesn't cut through I think in the way 416 00:23:37,119 --> 00:23:40,359 Speaker 1: that Matt Canavan will, but we've got a very conservative 417 00:23:40,440 --> 00:23:43,639 Speaker 1: Liberal Party leader in Angus Taylor, a very conservative National 418 00:23:43,640 --> 00:23:47,360 Speaker 1: Party leader in Matt Canavan. The and they will take 419 00:23:47,359 --> 00:23:50,119 Speaker 1: the fight to paul En Hanson and One Nation and 420 00:23:50,200 --> 00:23:53,320 Speaker 1: suddenly you've got a Liberal Party and a coalition more 421 00:23:53,359 --> 00:23:57,120 Speaker 1: broadly that is essentially very very similar to where they 422 00:23:57,119 --> 00:24:00,399 Speaker 1: were before the last election, where they were hammered and 423 00:24:00,440 --> 00:24:03,240 Speaker 1: there was this very brief kind of dally on Swiss 424 00:24:03,280 --> 00:24:07,280 Speaker 1: with a more moderate stance there with Susan Lee in 425 00:24:07,359 --> 00:24:09,840 Speaker 1: the chair, didn't even get a chance to take that 426 00:24:10,200 --> 00:24:14,919 Speaker 1: stance to an election. I just find this absolutely fascinating. 427 00:24:15,000 --> 00:24:19,000 Speaker 1: But the Poles, the Poles will, I suspect will not 428 00:24:19,119 --> 00:24:21,040 Speaker 1: lie on this one, and we will start to see 429 00:24:21,080 --> 00:24:25,120 Speaker 1: some more support for the coalition, perhaps a reduction now 430 00:24:25,119 --> 00:24:27,879 Speaker 1: for One Nation as well. And in all of this 431 00:24:28,720 --> 00:24:30,920 Speaker 1: Labor will just kind of be able to keep on going, 432 00:24:31,000 --> 00:24:32,520 Speaker 1: but maybe there'll be a strong opposition. 433 00:24:32,560 --> 00:24:36,160 Speaker 3: There aways a melodrama today, it's it's been dumped. 434 00:24:37,000 --> 00:24:40,399 Speaker 1: Know what, I think we set ourselves up to fail 435 00:24:40,480 --> 00:24:46,400 Speaker 1: with an eyes glaze over category. I think we probably 436 00:24:46,560 --> 00:24:48,439 Speaker 1: preempted the fact that there was going to be not 437 00:24:48,520 --> 00:24:52,440 Speaker 1: much melodrama in that but Adam, which one really got 438 00:24:52,480 --> 00:24:53,399 Speaker 1: the glaze going? 439 00:24:55,640 --> 00:25:03,639 Speaker 4: Of course, tax reform absolutely, And I sense that you 440 00:25:03,640 --> 00:25:06,080 Speaker 4: know that the Churchill line of how the things happened 441 00:25:06,200 --> 00:25:07,760 Speaker 4: very very slowly, then all at once. 442 00:25:08,359 --> 00:25:10,560 Speaker 2: And obviously I'm an optimist. I hope this is the 443 00:25:10,640 --> 00:25:14,200 Speaker 2: all at once year that something will actually happen, because 444 00:25:14,240 --> 00:25:15,040 Speaker 2: it must. 445 00:25:15,920 --> 00:25:20,760 Speaker 1: I might have protest nothing happened this week in tax reform. 446 00:25:21,080 --> 00:25:22,880 Speaker 1: Ille respend, I put out her white. 447 00:25:23,320 --> 00:25:25,520 Speaker 2: She has said all of that before too, by the way, And. 448 00:25:25,520 --> 00:25:28,040 Speaker 1: Jim Chumps made a couple of comments, you are such 449 00:25:28,040 --> 00:25:31,000 Speaker 1: a sucker for tax reform that I could just drop 450 00:25:31,040 --> 00:25:32,560 Speaker 1: it anywhere in this show. 451 00:25:32,680 --> 00:25:36,159 Speaker 3: And so the last two times, the last two times 452 00:25:36,200 --> 00:25:38,959 Speaker 3: we've used tax reform, one of us has used tax reform. 453 00:25:39,280 --> 00:25:41,080 Speaker 3: In the other we lost that. 454 00:25:41,520 --> 00:25:43,840 Speaker 1: But to be fair, one of those Adam was still 455 00:25:43,880 --> 00:25:48,960 Speaker 1: asleep and hadn't joined the recording yet, his eyes closing 456 00:25:49,000 --> 00:25:52,800 Speaker 1: over that he did not know what he was judging against. 457 00:25:52,840 --> 00:25:55,239 Speaker 1: And the shock and the horror and the shame on 458 00:25:55,280 --> 00:25:57,919 Speaker 1: his face after he realized he had betrayed his precious 459 00:25:57,960 --> 00:25:59,960 Speaker 1: tax reform was extraordinary, all right too. 460 00:26:00,280 --> 00:26:05,720 Speaker 3: My favorite story about my favorite story, robo Taxis and 461 00:26:05,800 --> 00:26:08,920 Speaker 3: the Great thing about robot taxis that we're talking about here. 462 00:26:09,440 --> 00:26:15,199 Speaker 3: Australian design guy called Tim Kensley Clay from Zookes not z. 463 00:26:17,280 --> 00:26:17,639 Speaker 1: Zooks. 464 00:26:18,840 --> 00:26:20,760 Speaker 3: I said it with I said it with an accent. 465 00:26:20,960 --> 00:26:27,640 Speaker 3: I said it with an American accent. Zekes Australia Design Zooks, 466 00:26:28,000 --> 00:26:31,679 Speaker 3: whatever the hell it is. They're double oakes zooksuks with 467 00:26:31,720 --> 00:26:35,080 Speaker 3: hooks and books and looks. Okay, zooks. Do you know 468 00:26:35,119 --> 00:26:36,880 Speaker 3: what I love about this company? I mean, I love 469 00:26:36,960 --> 00:26:39,119 Speaker 3: its product and the whole idea that it's creating a 470 00:26:39,160 --> 00:26:41,720 Speaker 3: car without a steering wheel, without a clutch, without break, 471 00:26:41,840 --> 00:26:44,480 Speaker 3: without any of those sorts of things. It's just, you know, 472 00:26:44,520 --> 00:26:47,080 Speaker 3: you just jump in and it takes off and off 473 00:26:47,160 --> 00:26:48,920 Speaker 3: you go. And let's face it, if you don't actually 474 00:26:48,960 --> 00:26:50,639 Speaker 3: have to control the car, you don't need any of 475 00:26:50,680 --> 00:26:54,919 Speaker 3: those things. So the benefit, of course, is that you 476 00:26:55,000 --> 00:26:57,960 Speaker 3: get more people into the car, that's one. But it's 477 00:26:58,000 --> 00:27:01,480 Speaker 3: also much easier to manufacture when you're saying, just allow 478 00:27:01,600 --> 00:27:06,280 Speaker 3: us to drive these robot taxis, make masses of them 479 00:27:06,400 --> 00:27:12,080 Speaker 3: a lot cheaper all that. Currently it's before the National 480 00:27:12,119 --> 00:27:16,800 Speaker 3: Highway Traffic Safety Administration. They're seeking public comments on Zux's 481 00:27:16,840 --> 00:27:19,880 Speaker 3: plan to deploy up to twenty five hundred. Robot taxis 482 00:27:20,280 --> 00:27:23,399 Speaker 3: what I like most about it. Though this is an 483 00:27:23,440 --> 00:27:28,000 Speaker 3: Australian VC play, So Blackbird Adventures, one of the Australia's 484 00:27:28,000 --> 00:27:32,720 Speaker 3: biggest venture capitalists, invested in Zooks from the get go. 485 00:27:32,880 --> 00:27:35,560 Speaker 3: It's now Californian based, but this is an AUSI company 486 00:27:36,000 --> 00:27:39,880 Speaker 3: made good. Now we've got to see what actually comes out. 487 00:27:39,960 --> 00:27:44,200 Speaker 3: And these guys are taking on Tesla and all those people. 488 00:27:44,920 --> 00:27:48,640 Speaker 3: But Zooks is an AUSSI company and oz evc company 489 00:27:49,240 --> 00:27:55,680 Speaker 3: done good, breaking through in the UK, creating in the 490 00:27:55,800 --> 00:27:58,920 Speaker 3: UK and the US, creating a car which just won't 491 00:27:58,960 --> 00:28:02,160 Speaker 3: have any of those sort of bother with some additions 492 00:28:02,240 --> 00:28:05,560 Speaker 3: like breaks and steering wheels. 493 00:28:05,640 --> 00:28:07,840 Speaker 1: Stuff like that, they're just getting the way of a 494 00:28:07,880 --> 00:28:09,199 Speaker 1: good driving experience. 495 00:28:09,280 --> 00:28:15,000 Speaker 3: Really, this is a tuly new thing for transport. 496 00:28:15,840 --> 00:28:20,120 Speaker 1: And a shout out to Rad who is a listener 497 00:28:20,119 --> 00:28:23,480 Speaker 1: who got in touch and was sharing some of the 498 00:28:23,480 --> 00:28:26,359 Speaker 1: fact that the Aussie facts about this story because it 499 00:28:26,400 --> 00:28:29,159 Speaker 1: was just such a good international story with actually a 500 00:28:29,240 --> 00:28:34,159 Speaker 1: really awesome Aussie connection. I'm actually and they operate in Vegas. 501 00:28:34,240 --> 00:28:37,840 Speaker 1: They've got this, they go on the strip, the Zooks robotaxis. 502 00:28:38,520 --> 00:28:40,520 Speaker 1: So I'm going to be there. 503 00:28:40,440 --> 00:28:43,760 Speaker 3: You supporting my You guys. Oh, here we go, let's 504 00:28:43,760 --> 00:28:44,800 Speaker 3: see Michael's life story. 505 00:28:44,920 --> 00:28:49,520 Speaker 1: I'm going to be there in about six weeks or so. 506 00:28:50,040 --> 00:28:52,040 Speaker 1: And so now I feel that this has actually become 507 00:28:52,080 --> 00:28:54,560 Speaker 1: almost a work trip that I will go and check 508 00:28:54,560 --> 00:28:59,800 Speaker 1: out the zooks taxis while I'm there and then justified 509 00:29:00,080 --> 00:29:00,560 Speaker 1: the ato. 510 00:29:01,080 --> 00:29:03,040 Speaker 2: I'm selfie. We'll do it. 511 00:29:03,040 --> 00:29:06,520 Speaker 1: There we go anyway. No, no, look, I mean Sean, yes, 512 00:29:07,240 --> 00:29:09,960 Speaker 1: I mean there is going to be value for robo taxis. 513 00:29:10,440 --> 00:29:12,680 Speaker 1: You're kind of heading off to all of your kind 514 00:29:12,680 --> 00:29:15,400 Speaker 1: of high end gala balls and all of those kinds 515 00:29:15,400 --> 00:29:17,520 Speaker 1: of hoity toity things. I want to talk about a 516 00:29:17,560 --> 00:29:21,400 Speaker 1: story that actually the people care about, right, I want 517 00:29:21,400 --> 00:29:22,280 Speaker 1: to talk about porn. 518 00:29:23,000 --> 00:29:29,120 Speaker 3: Because Adam's face that was just like he was horrified. 519 00:29:30,360 --> 00:29:31,920 Speaker 1: That was glorious. 520 00:29:32,080 --> 00:29:32,560 Speaker 2: Oh dear. 521 00:29:33,360 --> 00:29:37,360 Speaker 1: The second phase of Australia's social media ban for under 522 00:29:37,400 --> 00:29:40,240 Speaker 1: sixteen year olds came into effect this week. It came 523 00:29:40,280 --> 00:29:44,200 Speaker 1: into effect on Monday and sixteen year olds. No, no, 524 00:29:44,240 --> 00:29:48,440 Speaker 1: this was the sorry. The first phase was sorry no, no, 525 00:29:48,480 --> 00:29:51,560 Speaker 1: this is if I can just clarify, this was all 526 00:29:51,600 --> 00:29:54,200 Speaker 1: part of the original legislation. This is the second part 527 00:29:54,200 --> 00:29:56,560 Speaker 1: of the social Media Band for under sixteen year olds 528 00:29:56,800 --> 00:30:00,440 Speaker 1: was the overall legislation. This is for under eight teens, 529 00:30:00,960 --> 00:30:04,080 Speaker 1: and so this was for adult sites. And I've got 530 00:30:04,120 --> 00:30:06,320 Speaker 1: to say it was apparently a very good week to 531 00:30:06,400 --> 00:30:10,840 Speaker 1: own shares in a VPN company because all of a sudden, 532 00:30:11,800 --> 00:30:16,080 Speaker 1: all these people who want to access pornography in Australia 533 00:30:16,080 --> 00:30:21,120 Speaker 1: found themselves blocked, and so they just flocked to using VPNs. 534 00:30:21,160 --> 00:30:24,120 Speaker 1: There's a company called a low ay l O and 535 00:30:24,160 --> 00:30:28,680 Speaker 1: a blocked access to its websites. Websites are called and 536 00:30:28,720 --> 00:30:32,959 Speaker 1: they've got great names, porn Hub, red Tube, u porn 537 00:30:33,440 --> 00:30:39,080 Speaker 1: and Cubeait, which I heard cubait with a numeral eight. 538 00:30:39,440 --> 00:30:43,000 Speaker 1: Why are you writing those down, Adam, No need, no need, 539 00:30:46,720 --> 00:30:50,920 Speaker 1: and basically said no new registrations from Australian users, right, 540 00:30:50,960 --> 00:30:53,280 Speaker 1: And so this is the whole principle of this is 541 00:30:53,320 --> 00:30:56,800 Speaker 1: about protecting young people from adult content, and the legislation 542 00:30:57,040 --> 00:31:00,280 Speaker 1: asks companies to do more to prove that users are 543 00:31:00,440 --> 00:31:03,920 Speaker 1: over eighteen, right, So it is very specific over eighteen. 544 00:31:03,960 --> 00:31:06,720 Speaker 1: But this company just actually decided in protest to go 545 00:31:06,800 --> 00:31:10,800 Speaker 1: the whole hog and just block all new Australian sign 546 00:31:10,880 --> 00:31:15,440 Speaker 1: ups and limit kind of the the nudity and the 547 00:31:15,560 --> 00:31:17,920 Speaker 1: adult content that was on the site. As it was 548 00:31:18,360 --> 00:31:20,280 Speaker 1: the rules came into effect. As I said on Monday, 549 00:31:20,400 --> 00:31:22,760 Speaker 1: companies found in breach risk fines of up to forty 550 00:31:22,840 --> 00:31:27,600 Speaker 1: nine and a half million dollars. Big story for the 551 00:31:27,800 --> 00:31:32,960 Speaker 1: pornography aficionados in Australia or even just the casual users, 552 00:31:33,040 --> 00:31:35,840 Speaker 1: of which I'm sure there are many, though not on 553 00:31:35,880 --> 00:31:42,200 Speaker 1: this call. Just to clarify porn positive. Porn positive, yes, yeah, 554 00:31:42,280 --> 00:31:47,240 Speaker 1: from that new TV show. But look, I mean we 555 00:31:47,360 --> 00:31:50,760 Speaker 1: talked about this on the show this week, right, and 556 00:31:50,800 --> 00:31:53,080 Speaker 1: we like to verify sorts. Did you do it? 557 00:31:53,120 --> 00:31:55,320 Speaker 3: To say, to really kind of comment on like we're 558 00:31:55,360 --> 00:31:58,000 Speaker 3: just letting you go, yeah, awkward. 559 00:31:58,200 --> 00:32:00,360 Speaker 1: I'm not awkward with this. I'll just cure is to 560 00:32:00,400 --> 00:32:02,280 Speaker 1: know that, Sean, when you were writing this story through 561 00:32:02,320 --> 00:32:04,320 Speaker 1: the week, how did you verify that this was in 562 00:32:04,400 --> 00:32:07,360 Speaker 1: fact the case that this had taken place? As a journalist, 563 00:32:07,440 --> 00:32:09,240 Speaker 1: you do the journalists. You need to do your checks, 564 00:32:10,120 --> 00:32:14,480 Speaker 1: and I did, and you'd been suspended, and. 565 00:32:15,160 --> 00:32:17,360 Speaker 3: Well, I don't know there was there ever. I don't 566 00:32:17,360 --> 00:32:19,120 Speaker 3: think there was ever a sign up process, so they 567 00:32:19,120 --> 00:32:21,720 Speaker 3: probably didn't know that they had to suspend it. But 568 00:32:22,000 --> 00:32:25,560 Speaker 3: if you just type in the r L. Yeah, that 569 00:32:25,760 --> 00:32:29,120 Speaker 3: was I mean, some very fetching people. I'm surprised did 570 00:32:29,240 --> 00:32:30,880 Speaker 3: catch a coal some of the people I saw because 571 00:32:30,880 --> 00:32:33,720 Speaker 3: they weren't wearing much. But if they was like still images, 572 00:32:33,760 --> 00:32:35,280 Speaker 3: it wasn't pornography as such. 573 00:32:36,400 --> 00:32:43,640 Speaker 2: Thank you both. So among the two biggest drivers of 574 00:32:43,680 --> 00:32:47,600 Speaker 2: the Internet in the earliest days were gambling and porn, right, 575 00:32:48,040 --> 00:32:51,520 Speaker 2: so those two have driven innovation and they still do. 576 00:32:51,600 --> 00:32:57,480 Speaker 3: What's the what was the the Broadway show? I saw 577 00:32:57,520 --> 00:33:00,520 Speaker 3: it Book of More the Great Hits and the guy 578 00:33:01,080 --> 00:33:03,720 Speaker 3: was the muppet on it. It was literally a muppet. 579 00:33:04,200 --> 00:33:05,800 Speaker 3: It had made all his money from pawn. 580 00:33:05,840 --> 00:33:07,200 Speaker 1: I'm just trying to avenue Q. 581 00:33:07,560 --> 00:33:08,240 Speaker 3: Avenue Q. 582 00:33:08,560 --> 00:33:12,360 Speaker 1: Yeah, the Internet is for porn. That great song, Yes, yes, yes, 583 00:33:12,400 --> 00:33:14,000 Speaker 1: I know exactly the one you're talking about. 584 00:33:14,120 --> 00:33:20,000 Speaker 2: Fantastic or the cultural intersection. Very interesting story, but yes, 585 00:33:20,200 --> 00:33:24,080 Speaker 2: surprising you both. I'm sure. ROBOTAXI Australian design and innovation 586 00:33:24,200 --> 00:33:27,400 Speaker 2: winning overseas. Awesome, well done. 587 00:33:28,160 --> 00:33:31,680 Speaker 1: That's a landslide think of the people trying to access 588 00:33:31,720 --> 00:33:35,280 Speaker 1: their pawn. Adam, you have never seemed more out of touch, 589 00:33:35,360 --> 00:33:40,520 Speaker 1: young man speak. Please remain out of touch while we 590 00:33:40,560 --> 00:33:43,840 Speaker 1: are in the studio together three to one. That is 591 00:33:43,880 --> 00:33:46,280 Speaker 1: a landslide. What was the score breakdown? 592 00:33:46,880 --> 00:33:50,160 Speaker 2: Shaw ninety two, Michael ninety so very far close. 593 00:33:50,800 --> 00:33:55,400 Speaker 1: I deserve that. Okay, very high quality birdle that's a 594 00:33:55,720 --> 00:33:58,000 Speaker 1: that's okay, well done, Sean, good results. 595 00:33:58,240 --> 00:33:59,920 Speaker 3: Thank you both very much. 596 00:34:00,120 --> 00:34:01,280 Speaker 2: Job Adam, thank you. 597 00:34:02,200 --> 00:34:04,960 Speaker 1: Make sure you're following the podcast and headlong to Fearangreed 598 00:34:04,960 --> 00:34:06,400 Speaker 1: dot com dot at you to sign up for our 599 00:34:06,440 --> 00:34:09,479 Speaker 1: free daily newsletter. I'm Michael Thompson and that was Fear 600 00:34:09,520 --> 00:34:11,000 Speaker 1: and Greed. Have a great weekend.