1 00:00:00,600 --> 00:00:04,320 Speaker 1: Good morning everybody. Welcome to the Daily OS. It's Friday, 2 00:00:04,440 --> 00:00:07,520 Speaker 1: the twelfth of November. My name is Sam Kozlowski. Welcome 3 00:00:07,520 --> 00:00:09,200 Speaker 1: to the end of the week. I hope if you're 4 00:00:09,200 --> 00:00:11,640 Speaker 1: on the East coast or south coast of the country 5 00:00:11,680 --> 00:00:14,600 Speaker 1: you're staying dry. For today's deep Dive, we are joined 6 00:00:14,600 --> 00:00:16,960 Speaker 1: by Maddy and Sophie from your in Good Company. They're 7 00:00:17,000 --> 00:00:19,959 Speaker 1: a finance podcast that really help us to understand some 8 00:00:20,120 --> 00:00:23,720 Speaker 1: key financial ideas. We're going to chat through what ETFs 9 00:00:23,720 --> 00:00:26,520 Speaker 1: are and why they mattered this week. But first Zara 10 00:00:26,680 --> 00:00:28,480 Speaker 1: kick off the Friday what's making headlines? 11 00:00:29,200 --> 00:00:32,680 Speaker 2: Starting off, I Care, which provides insurance and care to 12 00:00:32,720 --> 00:00:36,000 Speaker 2: injured workers, has been ordered to pay thirty eight million 13 00:00:36,040 --> 00:00:39,200 Speaker 2: dollars to more than fifty three thousand people who were 14 00:00:39,320 --> 00:00:42,479 Speaker 2: underpaid by the insurance service. An I Care review of 15 00:00:42,560 --> 00:00:45,600 Speaker 2: sixteen thousand injured worker case files between the years of 16 00:00:45,600 --> 00:00:48,280 Speaker 2: twenty twelve and twenty nineteen found that there was an 17 00:00:48,360 --> 00:00:51,440 Speaker 2: average error rate of around three point five percent, or 18 00:00:51,479 --> 00:00:54,080 Speaker 2: an underpayment of about twenty six dollars a week. 19 00:00:54,880 --> 00:00:58,000 Speaker 1: We have some data on unemployment in Australia. The unemployment 20 00:00:58,040 --> 00:01:00,600 Speaker 1: rate has increased to a six month high of five 21 00:01:00,640 --> 00:01:03,520 Speaker 1: point two percent. The economy saw a loss of forty 22 00:01:03,520 --> 00:01:06,120 Speaker 1: six thousand jobs in the past month, with most of 23 00:01:06,160 --> 00:01:09,600 Speaker 1: those in Victoria, which only recently emerged from its lockdown. 24 00:01:10,720 --> 00:01:12,840 Speaker 2: We spoke about it earlier in the week, and now 25 00:01:12,959 --> 00:01:16,160 Speaker 2: Tesla founder Elon Musk has sold that six point eight 26 00:01:16,200 --> 00:01:19,920 Speaker 2: billion dollars so five US billion dollars in Tesla stocks 27 00:01:20,080 --> 00:01:23,320 Speaker 2: after he asked his sixty three million Twitter followers whether 28 00:01:23,440 --> 00:01:25,320 Speaker 2: or not he should sell ten percent of his stake 29 00:01:25,400 --> 00:01:28,440 Speaker 2: in the electric vehicle company. This is just an absolutely 30 00:01:28,520 --> 00:01:29,440 Speaker 2: fascinating story. 31 00:01:29,840 --> 00:01:33,000 Speaker 1: And today's good news. Queensland Rugby League has announced it 32 00:01:33,040 --> 00:01:35,640 Speaker 1: will pay its women's State of Osian team equal match 33 00:01:35,680 --> 00:01:38,759 Speaker 1: payments to their male counterparts. It means both the male 34 00:01:38,840 --> 00:01:41,720 Speaker 1: and female players for Queensland will receive a match day 35 00:01:41,760 --> 00:01:49,600 Speaker 1: payment of fifteen thousand dollars, which is good news. It's 36 00:01:49,640 --> 00:01:52,160 Speaker 1: that time of the Fortnite where we are joined by 37 00:01:52,160 --> 00:01:54,800 Speaker 1: Maddy and Sophie from Your and Good Company. It's one 38 00:01:54,840 --> 00:01:58,040 Speaker 1: of my favorite episodes of the Fortnite. I absolutely love 39 00:01:58,320 --> 00:02:02,520 Speaker 1: talking to you too. Today let's talk crypto. It's a 40 00:02:02,520 --> 00:02:06,760 Speaker 1: big deal now that traders on the Australian stock market 41 00:02:06,920 --> 00:02:09,280 Speaker 1: can invest in crypto but I need you guys to 42 00:02:09,320 --> 00:02:12,280 Speaker 1: break all of this down for me. Where do we begin. 43 00:02:12,680 --> 00:02:16,079 Speaker 3: Cryptocurrencies have gained immense popularity of late, and we've seen 44 00:02:16,120 --> 00:02:19,959 Speaker 3: things like Bitcoin and Ethereum hit all time highs. And 45 00:02:20,200 --> 00:02:23,560 Speaker 3: what we've seen on the ASX SO, our Australian Stock Exchange, 46 00:02:23,600 --> 00:02:27,440 Speaker 3: is that we have had the first ETF launch which 47 00:02:27,520 --> 00:02:31,600 Speaker 3: doesn't track necessarily the coins or the value behind Bitcoin 48 00:02:31,680 --> 00:02:34,880 Speaker 3: and things like Ethereum, but instead it has holdings of 49 00:02:34,960 --> 00:02:39,880 Speaker 3: fifty companies that are developing the technology behind cryptocurrencies. 50 00:02:40,120 --> 00:02:44,320 Speaker 1: Okay, so slowing down a little bit, What exactly do 51 00:02:44,360 --> 00:02:45,600 Speaker 1: you mean by ETF? 52 00:02:45,880 --> 00:02:48,600 Speaker 4: So the best way it was ever explained to us 53 00:02:48,639 --> 00:02:51,760 Speaker 4: that is that an ETF is like a box of chocolates. 54 00:02:51,840 --> 00:02:54,240 Speaker 4: So within your box of chocolates you have all the 55 00:02:54,240 --> 00:02:56,960 Speaker 4: different types of chocolates, which is your companies, and then 56 00:02:57,000 --> 00:02:59,120 Speaker 4: the box is what sort of groups it all together. 57 00:02:59,800 --> 00:03:02,000 Speaker 4: The reason why it's so great is because you can 58 00:03:02,040 --> 00:03:05,400 Speaker 4: buy one ETF on the stock exchange and instead of 59 00:03:05,440 --> 00:03:08,200 Speaker 4: having to pick one company and hoping that it does well, 60 00:03:08,520 --> 00:03:11,560 Speaker 4: you get exposure to a whole range of companies, so 61 00:03:11,680 --> 00:03:12,840 Speaker 4: it spreads your risk. 62 00:03:13,480 --> 00:03:16,480 Speaker 1: And so you guys said that this particular ETF, this 63 00:03:16,600 --> 00:03:19,720 Speaker 1: first Crypto ETF on the Australian stock Market. They are 64 00:03:19,760 --> 00:03:24,080 Speaker 1: a group of companies that support cryptocurrencies and they're not 65 00:03:24,200 --> 00:03:27,600 Speaker 1: actually the cryptocurrencies themselves. Do you have an example of 66 00:03:27,680 --> 00:03:31,560 Speaker 1: a company that's in this ETF that would give us 67 00:03:31,600 --> 00:03:33,320 Speaker 1: an idea of what these companies are doing. 68 00:03:33,560 --> 00:03:36,400 Speaker 3: You have companies like Coinbase, which is a brokerage platform 69 00:03:36,400 --> 00:03:39,320 Speaker 3: for cryptocurrency, so that allows for the hosting of coins. 70 00:03:39,320 --> 00:03:41,760 Speaker 3: But you also have a range of other companies which 71 00:03:41,760 --> 00:03:45,720 Speaker 3: are really behind, say the blockchain technology, which actually allows 72 00:03:45,920 --> 00:03:49,360 Speaker 3: cryptocurrencies to be bought and sold on a public ledger. 73 00:03:49,520 --> 00:03:52,160 Speaker 1: So, in terms of a risk appetite, let's say that 74 00:03:52,200 --> 00:03:55,880 Speaker 1: somebody's thinking about investing in this kind of thing. Would 75 00:03:55,960 --> 00:03:58,560 Speaker 1: you say that this is a high risk or a 76 00:03:58,600 --> 00:03:59,760 Speaker 1: low risk kind of. 77 00:04:00,120 --> 00:04:03,920 Speaker 4: It's an interesting one. It's definitely less risky than probably 78 00:04:03,920 --> 00:04:07,360 Speaker 4: investing directly in cryptocurrencies, because we know one of the 79 00:04:07,360 --> 00:04:11,360 Speaker 4: biggest things we hear about cryptocurrencies is that they're extremely volatile. 80 00:04:11,600 --> 00:04:13,880 Speaker 4: But by investing in this ETF, what it gives you 81 00:04:13,960 --> 00:04:17,119 Speaker 4: is exposure to the thematic or the industry I guess 82 00:04:17,160 --> 00:04:19,920 Speaker 4: that is digital assets. So it allows you to invest 83 00:04:19,960 --> 00:04:22,960 Speaker 4: in the idea without having to invest in the coins themselves. 84 00:04:23,160 --> 00:04:25,400 Speaker 1: And then some more crypto news. One of our big 85 00:04:25,440 --> 00:04:29,440 Speaker 1: banks is now supporting the actual holding of coins, which 86 00:04:29,480 --> 00:04:32,360 Speaker 1: is different from the ETF idea that we've just talked about. 87 00:04:33,000 --> 00:04:35,599 Speaker 1: Who has stepped into the ring first, Yeah. 88 00:04:35,480 --> 00:04:38,760 Speaker 3: So Commonwealth Bank has become the country's first bank to 89 00:04:38,800 --> 00:04:42,440 Speaker 3: offer customers the ability to buy, sell and hold crypto 90 00:04:42,560 --> 00:04:45,800 Speaker 3: assets via one of their apps that they're creating. So 91 00:04:45,839 --> 00:04:49,479 Speaker 3: they've teamed up with Gemini, which is a regulated crypto exchange, 92 00:04:49,520 --> 00:04:53,320 Speaker 3: and also Chain Analysis, which is a blockchain analysis firm, 93 00:04:53,360 --> 00:04:57,240 Speaker 3: to develop the design of a crypto exchange. And the 94 00:04:57,320 --> 00:04:59,360 Speaker 3: reason that they've really done this is because they've seen 95 00:04:59,400 --> 00:05:01,800 Speaker 3: the demand for these assets rise and they really want 96 00:05:01,839 --> 00:05:04,840 Speaker 3: to create a platform where they can show that there's capability, 97 00:05:04,920 --> 00:05:08,480 Speaker 3: security and kind of confidence in a crypto trading platform 98 00:05:08,480 --> 00:05:10,320 Speaker 3: in a world where you know, we've got a lot 99 00:05:10,320 --> 00:05:12,599 Speaker 3: of exchanges that are overseas and you know there's not 100 00:05:12,640 --> 00:05:14,839 Speaker 3: a lot of trust necessarily with all of them. 101 00:05:15,200 --> 00:05:17,560 Speaker 1: It's really interesting. You know, we've got now one in 102 00:05:17,680 --> 00:05:21,680 Speaker 1: five Australians who hold cryptocurrencies. So it was clear to 103 00:05:21,800 --> 00:05:23,880 Speaker 1: me that the big banks were going to head in 104 00:05:23,920 --> 00:05:26,920 Speaker 1: this direction, and it's now going to be fascinating to 105 00:05:26,920 --> 00:05:29,640 Speaker 1: see if it's available on every bank, but also what 106 00:05:29,720 --> 00:05:33,320 Speaker 1: type of coins they support, whether it kind of only 107 00:05:33,400 --> 00:05:37,560 Speaker 1: supports the really big players like Bitcoin and Ethereum, or 108 00:05:37,600 --> 00:05:40,200 Speaker 1: whether you can actually buy everything on there. It's going 109 00:05:40,240 --> 00:05:43,520 Speaker 1: to be a fascinating space to watch. Moving away from 110 00:05:43,600 --> 00:05:45,600 Speaker 1: crypto now for our last story, we've had a lot 111 00:05:45,600 --> 00:05:49,479 Speaker 1: of news this week about electric vehicles. We had a 112 00:05:49,600 --> 00:05:53,480 Speaker 1: new South Wales government policy announced on Wednesday, and that 113 00:05:53,520 --> 00:05:56,960 Speaker 1: followed the federal government's big announcement on Monday that they 114 00:05:56,960 --> 00:05:59,880 Speaker 1: would be supporting charging stations. Have we seen any reaction 115 00:06:00,160 --> 00:06:03,520 Speaker 1: from companies on the AX from this big announcement. 116 00:06:03,680 --> 00:06:05,800 Speaker 4: Yeah. So this has been a really interesting space for 117 00:06:05,920 --> 00:06:09,240 Speaker 4: quite a while on the AX because companies around the 118 00:06:09,240 --> 00:06:12,600 Speaker 4: world have really been embracing this whole industry of evs, 119 00:06:12,720 --> 00:06:15,240 Speaker 4: and yet you would be forgiven in Australia if you 120 00:06:15,279 --> 00:06:18,080 Speaker 4: really weren't following the story, because we have fallen quite 121 00:06:18,160 --> 00:06:21,719 Speaker 4: far behind. I think there are lots of interesting opportunities 122 00:06:21,720 --> 00:06:23,800 Speaker 4: in this space when it comes to investing. 123 00:06:24,279 --> 00:06:27,840 Speaker 3: Yeah, so, I think specifically in Australia we look at 124 00:06:27,920 --> 00:06:29,800 Speaker 3: we tend to look at a lot of the mining companies, 125 00:06:29,880 --> 00:06:34,960 Speaker 3: So for example, Australia is very rich in the mineral lithium, 126 00:06:34,960 --> 00:06:39,320 Speaker 3: which is behind the batteries in electric vehicles, so we 127 00:06:39,440 --> 00:06:43,320 Speaker 3: might see skyrocketing prices of some of those key critical 128 00:06:43,360 --> 00:06:45,640 Speaker 3: minerals in this space, and I think that's probably going 129 00:06:45,680 --> 00:06:47,520 Speaker 3: to be one of the biggest reactions for companies on 130 00:06:47,560 --> 00:06:48,320 Speaker 3: the AX. 131 00:06:48,600 --> 00:06:50,520 Speaker 1: Is there a finance story that you guys are looking 132 00:06:50,560 --> 00:06:53,760 Speaker 1: ahead and keeping an eye on in the next week 133 00:06:53,920 --> 00:06:56,080 Speaker 1: or two to come that you think is interesting. 134 00:06:56,320 --> 00:06:59,160 Speaker 4: I think off the back of the Climate conference in Glasgow, 135 00:06:59,240 --> 00:07:01,799 Speaker 4: Australia has an that it's setting up a seven hundred 136 00:07:01,800 --> 00:07:05,720 Speaker 4: and forty million dollar fund to develop low emissions technology. 137 00:07:05,760 --> 00:07:09,000 Speaker 4: So I'm keen to look more into where this money 138 00:07:09,120 --> 00:07:12,040 Speaker 4: is going to be flowing and where some investment opportunities 139 00:07:12,080 --> 00:07:13,360 Speaker 4: might be coming from that one. 140 00:07:13,640 --> 00:07:17,080 Speaker 3: And I'm going to be following the story that Nike 141 00:07:17,320 --> 00:07:19,440 Speaker 3: has just released saying that they're going to be putting 142 00:07:19,440 --> 00:07:23,040 Speaker 3: digital shoes into the metaverse. It's one of those things 143 00:07:23,080 --> 00:07:25,640 Speaker 3: I keep hearing what the metaverse is and I'm still 144 00:07:25,800 --> 00:07:30,200 Speaker 3: so confused, so I just want to start to build 145 00:07:30,200 --> 00:07:32,400 Speaker 3: my understanding. I'm going to watch some YouTube I think 146 00:07:32,680 --> 00:07:34,720 Speaker 3: and work out what the hell Mac is doing. I 147 00:07:34,760 --> 00:07:37,440 Speaker 3: think when Mark Zuckerberg said metaverse, I was like, Uh, 148 00:07:37,600 --> 00:07:39,920 Speaker 3: now that Mikey said metaverse, I'm like, Eh, might check 149 00:07:39,960 --> 00:07:40,240 Speaker 3: it out. 150 00:07:41,000 --> 00:07:43,480 Speaker 1: Looking forward to seeing you in two weeks, so wearing 151 00:07:43,920 --> 00:07:49,400 Speaker 1: fake virtual air force ones. Can't wait. Maddie and Sophie 152 00:07:49,440 --> 00:07:51,560 Speaker 1: from your own good company. You can find them on 153 00:07:51,640 --> 00:07:55,200 Speaker 1: all good streaming platforms. They're absolutely smashing it over there. 154 00:07:55,240 --> 00:07:56,960 Speaker 1: I'm seeing them at the top of the charts, which 155 00:07:57,000 --> 00:08:00,400 Speaker 1: is super exciting. Have a great weekend everybody, and will 156 00:08:00,400 --> 00:08:01,240 Speaker 1: speak to you on Monday.