WEBVTT - The Finance Report with Scott Phillips, Thursday 12th June, 2025

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<v Speaker 1>Finance. He's a coke man. He's been on coke for many,

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<v Speaker 1>many years. I believe good a Scottie.

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<v Speaker 2>Oh, you're absolutely right right your ages quietly?

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<v Speaker 1>Yeah, you know what the price going on.

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<v Speaker 2>Is the price? Yeah, I'm looking at a case of

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<v Speaker 2>it literally right now on the floor next to me.

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<v Speaker 2>You know what we also done the old say the

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<v Speaker 2>stream you get some of that, sup, will whack it

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<v Speaker 2>in much much cheaper way to make soft drink.

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<v Speaker 1>Well, it doesn't taste the same though, doesn'.

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<v Speaker 2>No, it doesn't. But you know the kid is drinking

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<v Speaker 2>or not.

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<v Speaker 1>So, Scott Phillips says, the author at Motley Full Australia

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<v Speaker 1>is an expert when it comes to finance. So you

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<v Speaker 1>have noticed the price of soft drink go up. So

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<v Speaker 1>that's one tick.

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<v Speaker 2>Absolutely.

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<v Speaker 1>Now the union is pushing for AI regulation. They're worried

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<v Speaker 1>about everyone's jobs, are they?

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<v Speaker 2>Yeah, and probably reasonably. I guess the challenge this is

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<v Speaker 2>the upcoming jobs and productivity. Some of the prime ministers

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<v Speaker 2>announced they're as usual. Authors has outlaid their demands up front.

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<v Speaker 2>You'd like to think that both groups businesses and unions

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<v Speaker 2>were going together and actually tr fixed productivity first and

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<v Speaker 2>then worry about the spoils. But that's the way it's going.

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<v Speaker 2>IRI is going to be massive, guys. You know that,

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<v Speaker 2>and your listeners know that the amount it's being used

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<v Speaker 2>across the economy for all sorts of different things will

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<v Speaker 2>only increase massively as the technology even continues to improve further.

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<v Speaker 2>When that happens, it is going to seriously put jobs

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<v Speaker 2>at risk. We've seen, you know, meaningful changes. One of

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<v Speaker 2>the Templar Webster online furniture company, of all things they reckon,

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<v Speaker 2>they say about eight million dollars in customer service costs

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<v Speaker 2>by using AI as a solution. That's just one single

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<v Speaker 2>number you roll it out across the economy. So the

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<v Speaker 2>unions are worried that maybe AI will take white collar

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<v Speaker 2>and blue collar jobs, and they want protection is built

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<v Speaker 2>in there. They want to work and how we're going

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<v Speaker 2>to share that productivity gain amongst labor and capital, as

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<v Speaker 2>they say, amongst workers and businesses. So yeah, the and

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<v Speaker 2>claims upfront, getting ahead of the game when it comes

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<v Speaker 2>to the upcoming summit. Now that's what's on the agenda

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<v Speaker 2>for the line.

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<v Speaker 1>You run a big organization there, do you use it much?

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<v Speaker 2>Yeah? We do. Actually, everything from coding. We haven't used

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<v Speaker 2>the content creation for public consumption yet. We're going to

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<v Speaker 2>roll it out really quickly. So yeah, all all sorts

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<v Speaker 2>of different places across the thing, summarizing, documentation, finding details.

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<v Speaker 2>What is really grateful search wise is giving you a

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<v Speaker 2>consolate and search result. You back to me in Google

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<v Speaker 2>and you get a couple of links. You ask I

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<v Speaker 2>have something. I should give you a fully worked solution.

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<v Speaker 2>But yeah, and look, this is all the early days.

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<v Speaker 2>But this is just the early uses. Over time that

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<v Speaker 2>we use more and more acids. Suspect AI made mills.

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<v Speaker 2>You know I pashed the other day? Did you know

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<v Speaker 2>that half you like boys?

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<v Speaker 1>Yeah? Have you seen those?

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<v Speaker 2>Have you seen that?

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<v Speaker 1>Turn yourself into gorilla or whatever?

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<v Speaker 2>Made?

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<v Speaker 1>It's insane what it can do that hard for you.

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<v Speaker 2>Here's the other thing there you go on. On the

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<v Speaker 2>on the downside, my video of me has been deep

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<v Speaker 2>faked to be spreaking bitcoin. They've actually used a video

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<v Speaker 2>which is scary when you see it, right, only because

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<v Speaker 2>it's just weird, but it's too there's also also a

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<v Speaker 2>chance of scams. All that kind of StuffYeah. Because Hi,

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<v Speaker 2>I'm Scott Phillips. You should buy my bitcoin joy my

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<v Speaker 2>WhatsApp group, all that kind of stuff. It's really it

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<v Speaker 2>can be used for very nefarious uses as well. So

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<v Speaker 2>how do you protect yourself? What's your right? Scott? You

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<v Speaker 2>can't put it well. I mean, frankly, Twiggy for US

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<v Speaker 2>and Bill Gates, Dick Smith have been fighting this on

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<v Speaker 2>their names, like this is David Kosh. They've all been

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<v Speaker 2>used in any same sorts of scams. Yeah, exactly. Trying

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<v Speaker 2>to get Facebook to pull them down and trying to

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<v Speaker 2>get Twitter to pull them down. It's really hard work.

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<v Speaker 2>They frankly don't care enough, and so we probably need

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<v Speaker 2>some degree of regulation. I know too much regulation is

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<v Speaker 2>not great, but you know that you can't unless those

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<v Speaker 2>players chew to take them down. You've got no recourse whatsoever.

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<v Speaker 2>I've had copy accounts of my accounts made people pretending

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<v Speaker 2>me on Facebook, coor Twitter say hey, this is my

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<v Speaker 2>new account, come over here using my photo, my profile,

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<v Speaker 2>the whole box and dice.

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<v Speaker 1>Yeah.

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<v Speaker 2>Markets today, Yeah, it's going to be a good day

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<v Speaker 2>in the market, hopefully. The USBI actually down a quarter

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<v Speaker 2>of a percent. Yeah yeah, well, US market was down,

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<v Speaker 2>but it looks that resource prices are going to prop

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<v Speaker 2>us up. Today the ass luck it again about a

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<v Speaker 2>quarter of one percent if the futures are right, dollar

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<v Speaker 2>down by about a quarter of a percent, but still

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<v Speaker 2>over sixty five cents currently sixty five point zero six US.

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<v Speaker 1>Good stuff for Roke. Want to check out Scott's work

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<v Speaker 1>Motley Full Australia as where you'll find him the genuine

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<v Speaker 1>and the rule one Scotti Phillips Things.

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<v Speaker 2>Thanks Scot.

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<v Speaker 1>Scott Phillips there with finance heaving back tomorrow