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Speaker 1: You're listening to the Saturday Morning with Jack team podcast

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Speaker 1: from News Talks at b Elon.

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Speaker 2: Musk is on track to become the world's first trillionaire.

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Speaker 2: That's a thousand billions and billions, of course, being one

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Speaker 2: thousand millions. It's extraordinary, isn't it. So Tesla's shareholders have

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Speaker 2: overwhelmingly approved his remarkable pay package. Paul stan House is

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Speaker 2: our text bird. He's here with the details. Paul. It's

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Speaker 2: a pretty penny.

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Speaker 3: It really is. I mean, it's a similar number that

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Speaker 3: you must have been talking any with the TVZ, wasn't it.

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Speaker 2: Jack Fously famously you know, the New Zealand media, famously

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Speaker 2: wealthy at the moment, and a famously good financial position.

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Speaker 2: So yes, you can imagine. Yeah, okay, good, good, good

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Speaker 2: to know.

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Speaker 3: No, it's a crazy number, isn't it, Because it's just

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Speaker 3: it's it's unimaginable. The guys already worth five hundred million

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Speaker 3: dollars and this is probably going to be the thing

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Speaker 3: that takes them to that trillion. I mean, he's got

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Speaker 3: a bunch of other things in the works that will

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Speaker 3: help take him there too, But this pay package alone,

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Speaker 3: this pay package is worth a trillion. Dollars by itself.

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Speaker 3: He needs to do a lot though, in order for

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Speaker 3: him to get that trillion dollars, and we're talking delivering

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Speaker 3: twenty million Tesla vehicles and a million robots. He has

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Speaker 3: to get ten million subscriptions to Tesla's full driving car features.

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Speaker 3: He has to get a million self driving robotaxis into

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Speaker 3: commercial operation. He's got to get four hundred billion dollars

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Speaker 3: in core profit for the company. And this is the

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Speaker 3: big one. He has to raise the valuation of the

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Speaker 3: company from his current one point four trillion dollars to

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Speaker 3: eight point five trillion dollars. Wow. So not exactly an

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Speaker 3: easy task.

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Speaker 2: No, no, okay, So yeah, there are a lot of expectations. Nevertheless,

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Speaker 2: if he pulls that off, he will. I mean, it

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Speaker 2: is just a fantastical kind of sum, isn't it that

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Speaker 2: you know that net Worth. Hey, Australia is going to

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Speaker 2: force the big streamers to make Australian content. Australia has

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Speaker 2: been kind of out there and trying to push back

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Speaker 2: against some of the big digital companies of the age.

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Speaker 2: But this is an interesting move.

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Speaker 3: Yeah, big time. They've been big on a bunch of

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Speaker 3: these kind of things. As you say, they really went

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Speaker 3: toe to toe with them about the newspapers as well,

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Speaker 3: and the access to news content and paying publishers too.

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Speaker 3: And so this one is going to be focused on

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Speaker 3: the biggest streamers around. So if you just happen to

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Speaker 3: create a streaming service and trying to give off the ground,

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Speaker 3: you don't have to worry about this. Not that we're

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Speaker 3: doing that ourselves, but if you're the likes of the

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Speaker 3: netflixes and the Disney pluses and the Amazon Prime Videos,

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Speaker 3: and you have more than a million Australian subscribers, then

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Speaker 3: you will be part of this law or be looked

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Speaker 3: at as part of this law, right and you need

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Speaker 3: to spend at least ten percent of all of the

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Speaker 3: money that you're currently spending in Australia on content or

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Speaker 3: seven point five percent of all the revenue you bring

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Speaker 3: in from your stranding customers, whichever one is greater, and

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Speaker 3: that can be then spent on dramas, children's TV, documentary arts,

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Speaker 3: educational programs. There's no stipulation on what percentage that needs

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Speaker 3: to be. You just have to actually spend the money.

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Speaker 3: And it isn't the first time this bill was actually

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Speaker 3: brought about. Actually, Jack the Assies wanted to do this

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Speaker 3: back in twenty twenty four, but they were a little

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Speaker 3: concerned about the US presidential election and what might happen there,

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Speaker 3: and then they later feared that Donald Trump could use

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Speaker 3: it as part of their tariff negotiations. He's been pretty

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Speaker 3: hot on Hollywood foreign films getting tariffs. I think you

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Speaker 3: put one hundred percent on non Hollywood made or non

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Speaker 3: American made films in the United States. So I'm sure

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Speaker 3: that this was part of their calculation. But it's a

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Speaker 3: really interesting move, especially because there are if you think

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Speaker 3: about the New Zealand media landscape, there are already provisions

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Speaker 3: around local content and supporting local content. Australia is taking

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Speaker 3: to that next step.

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Speaker 2: Yeah, absolutely, I was fascinating. Hey, thanks so much, Paul.

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Speaker 2: Paul Stenhouse is our texpert with us This Morning.

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Speaker 1: For more from Saturday Morning with Jack Tame, listen live

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Speaker 1: to News Talks at B from nine am Saturday, or

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Speaker 1: follow the podcast on iHeartRadio.