1 00:00:00,200 --> 00:00:02,680 Speaker 1: Good morning everybody, and welcome to the Daily OS. It 2 00:00:02,720 --> 00:00:05,680 Speaker 1: is Friday, the thirteenth of May. Oh my god, Friday 3 00:00:05,720 --> 00:00:08,840 Speaker 1: the thirteenth. Bad things happen on Friday thirteenth, But because 4 00:00:08,840 --> 00:00:11,480 Speaker 1: you're listening to this podcast, only good things will happen. 5 00:00:11,960 --> 00:00:13,880 Speaker 1: For today's deep Dive, we're going to be talking to 6 00:00:13,960 --> 00:00:16,159 Speaker 1: Maddie and Sophie from your own Good Company. I'm going 7 00:00:16,239 --> 00:00:19,560 Speaker 1: to give you three clues to what we're talking about, Taco's, 8 00:00:20,040 --> 00:00:24,360 Speaker 1: unicorns and Gucci. Until then, Zara, what is making headlines 9 00:00:24,400 --> 00:00:24,880 Speaker 1: this morning? 10 00:00:26,600 --> 00:00:29,600 Speaker 2: Can confirm it's none of those things. But yesterday on 11 00:00:29,640 --> 00:00:33,800 Speaker 2: the campaign trail, both Scott Morrison and Anthony Albanesi reinforced 12 00:00:33,880 --> 00:00:37,680 Speaker 2: their strong stances on China after China's ambassador to Australia 13 00:00:37,800 --> 00:00:41,400 Speaker 2: published a column in The AOFI arguing China's rise should 14 00:00:41,400 --> 00:00:43,040 Speaker 2: not be seen as a threat to Australia. 15 00:00:44,440 --> 00:00:47,760 Speaker 1: A Queensland Superyot tour operator has been arrested as he 16 00:00:47,800 --> 00:00:52,120 Speaker 1: allegedly attempted to flee Australia to Singapore, three days after 17 00:00:52,159 --> 00:00:55,280 Speaker 1: a scuba diver was found dead and twenty million dollars 18 00:00:55,360 --> 00:00:58,520 Speaker 1: worth of cocaine was discovered in Newcastle. The man was 19 00:00:58,600 --> 00:01:01,520 Speaker 1: charged with importing a large commercial quantity of a border 20 00:01:01,560 --> 00:01:02,440 Speaker 1: controlled drug. 21 00:01:03,920 --> 00:01:07,920 Speaker 2: North Korean state media has reported the country's first ever 22 00:01:08,080 --> 00:01:12,240 Speaker 2: case of COVID nineteen, calling the situation a major national emergency. 23 00:01:12,720 --> 00:01:16,360 Speaker 2: North Korean leader Kim Jong woun subsequently ordered lockdown measures 24 00:01:16,400 --> 00:01:19,920 Speaker 2: in all cities and directed the distribution of medical supplies 25 00:01:19,959 --> 00:01:23,479 Speaker 2: the government had reportedly stocked in case of a COVID emergency. 26 00:01:25,000 --> 00:01:27,840 Speaker 1: And Today's good news. New Barbie dolls will be released 27 00:01:27,880 --> 00:01:30,800 Speaker 1: in June that the company says will help children see 28 00:01:30,840 --> 00:01:34,800 Speaker 1: themselves reflected more accurately. The range includes the brand's first 29 00:01:34,800 --> 00:01:37,160 Speaker 1: ever Barbie with a hearing aide and a Ken doll 30 00:01:37,240 --> 00:01:45,160 Speaker 1: with a skin condition. Joined by Maddie and Sophie from 31 00:01:45,319 --> 00:01:48,960 Speaker 1: You're in Good Company on this Friday morning where only 32 00:01:49,080 --> 00:01:51,960 Speaker 1: eight stays out from a federal election, and it's probably 33 00:01:52,000 --> 00:01:56,480 Speaker 1: a good time to not talk strictly about the election. Now, 34 00:01:56,560 --> 00:01:59,160 Speaker 1: I'll start with you, Maddie. I was watching a series 35 00:01:59,240 --> 00:02:02,360 Speaker 1: called Wee Crap the other week and they talked about unicorns, 36 00:02:02,520 --> 00:02:05,240 Speaker 1: and they said, the problem with unicorns is that they 37 00:02:05,280 --> 00:02:09,400 Speaker 1: don't exist? Is that true in the business world? 38 00:02:09,960 --> 00:02:13,560 Speaker 3: Well, funny you asked that. This week, it was announced 39 00:02:13,560 --> 00:02:17,600 Speaker 3: that one of Goodsmani Gomez's investors, Magellan Financial Group, has 40 00:02:17,680 --> 00:02:20,800 Speaker 3: agreed to a deal to sell it's eleven point six 41 00:02:20,840 --> 00:02:24,080 Speaker 3: percent stake in the company for one hundred and forty 42 00:02:24,120 --> 00:02:27,560 Speaker 3: million dollars. The sale price equates the Fast food Change 43 00:02:27,600 --> 00:02:31,520 Speaker 3: total value to one point two billion dollars, making it, 44 00:02:31,720 --> 00:02:36,240 Speaker 3: like you said, Australia's latest startup to claim unicorn status. 45 00:02:36,600 --> 00:02:38,119 Speaker 1: So what is a unicorn? 46 00:02:38,639 --> 00:02:42,080 Speaker 3: Unicorn is a term used to describe a privately held 47 00:02:42,280 --> 00:02:45,640 Speaker 3: startup company with a value of over one billion dollars. 48 00:02:46,120 --> 00:02:48,679 Speaker 3: So when the term was first coined, it was said 49 00:02:48,720 --> 00:02:51,920 Speaker 3: that it's called a unicorn because, just like the mythical creature, 50 00:02:52,080 --> 00:02:56,440 Speaker 3: the statistical rarity of such a successful business venture is improbable, 51 00:02:56,840 --> 00:03:00,600 Speaker 3: but not impossible. Now, hopefully I'm not the only person 52 00:03:00,680 --> 00:03:04,840 Speaker 3: to discover this morning that apparently unicorns do exist. But 53 00:03:05,080 --> 00:03:09,080 Speaker 3: according to Failory, Guzmani Gomez joins US six other Australian 54 00:03:09,120 --> 00:03:12,680 Speaker 3: startups with this lofty status at the moment, including Canva 55 00:03:12,840 --> 00:03:14,880 Speaker 3: Airwollx and Culture App. 56 00:03:15,840 --> 00:03:19,200 Speaker 1: So why don't we see more unicorns? Is it because 57 00:03:19,280 --> 00:03:21,760 Speaker 1: when a company gets that big, they tend to list 58 00:03:21,840 --> 00:03:23,080 Speaker 1: on the stock market. 59 00:03:23,440 --> 00:03:26,480 Speaker 3: That's exactly right, sam, so usually for a company to 60 00:03:26,960 --> 00:03:30,000 Speaker 3: have that much value, it would be associated with a 61 00:03:30,040 --> 00:03:33,640 Speaker 3: public listing. And on that topic, prior to getting the 62 00:03:33,639 --> 00:03:38,280 Speaker 3: Magellan investment, guzmani Gomez was actually planning an IPO. This 63 00:03:38,520 --> 00:03:41,160 Speaker 3: was put on us after the volatility that the business 64 00:03:41,200 --> 00:03:45,000 Speaker 3: experience during COVID nineteen, but the CEO has previously said 65 00:03:45,040 --> 00:03:48,200 Speaker 3: that he wants people that love Guzmani Gomez to have 66 00:03:48,320 --> 00:03:50,720 Speaker 3: the ability to own it. So if you are a 67 00:03:50,720 --> 00:03:52,840 Speaker 3: fan of the Mexican fast food chain, I know it 68 00:03:52,920 --> 00:03:55,600 Speaker 3: kept me fed for a solid a few years during UNI. 69 00:03:55,960 --> 00:03:58,880 Speaker 3: He is hoping an ASX listing isn't too far away. 70 00:03:59,080 --> 00:04:02,840 Speaker 1: It's clear that everybody loves a taco and a burrito. 71 00:04:03,040 --> 00:04:05,440 Speaker 1: Interesting to see that tacos and burritos is a billion 72 00:04:05,480 --> 00:04:08,680 Speaker 1: dollar business. Not say I'm totally surprised because I had 73 00:04:08,720 --> 00:04:12,320 Speaker 1: the same university habits as you. Maddie. Sophie, I want 74 00:04:12,320 --> 00:04:14,520 Speaker 1: to turn to you now. We have had a few 75 00:04:14,600 --> 00:04:18,320 Speaker 1: really good chats over the last year or so about cryptocurrencies, 76 00:04:18,360 --> 00:04:21,039 Speaker 1: and actually I brought it up on Wednesday's podcast about 77 00:04:21,080 --> 00:04:23,400 Speaker 1: the stock market. The crypto is taking as much of 78 00:04:23,440 --> 00:04:26,880 Speaker 1: a hit as traditional markets tell me about that. Why 79 00:04:26,960 --> 00:04:30,120 Speaker 1: is that happening to this unique asset class. Yeah. 80 00:04:30,120 --> 00:04:33,000 Speaker 4: Well, it's actually such an interesting discussion because there's been 81 00:04:33,040 --> 00:04:36,120 Speaker 4: a group of people, you know, over this whole cryptocurrency journey, 82 00:04:36,160 --> 00:04:39,520 Speaker 4: who have said that cryptocurrency should be independent from the 83 00:04:39,520 --> 00:04:42,839 Speaker 4: stock market and from factors such as inflation, and a 84 00:04:42,880 --> 00:04:44,560 Speaker 4: lot of people have been predicting that it would be 85 00:04:44,640 --> 00:04:47,080 Speaker 4: a hedge against the stock market, meaning it would trend 86 00:04:47,120 --> 00:04:50,240 Speaker 4: in the opposite direction. But over the past couple of years, 87 00:04:50,279 --> 00:04:52,960 Speaker 4: we've actually seen this to be proven false. You know, 88 00:04:53,279 --> 00:04:56,240 Speaker 4: in their twenty twenty March dip in the stock market, 89 00:04:56,279 --> 00:04:59,760 Speaker 4: we saw cryptocurrencies four by fifty seven percent. We then 90 00:04:59,800 --> 00:05:02,400 Speaker 4: saw you are a monumental ball run over twenty twenty 91 00:05:02,480 --> 00:05:05,760 Speaker 4: and twenty twenty one, and now it's falling again and 92 00:05:05,839 --> 00:05:09,760 Speaker 4: on Monday dipped below thirty thousand dollars USD with the 93 00:05:09,880 --> 00:05:14,040 Speaker 4: fears of rising inflation, geopolitical crisis, and rising interest rates. 94 00:05:14,279 --> 00:05:15,960 Speaker 1: So what you're telling me there is that it's kind 95 00:05:15,960 --> 00:05:20,799 Speaker 1: of almost now tied to traditional markets. Is that because 96 00:05:20,880 --> 00:05:23,440 Speaker 1: people like you and me are getting more familiar with 97 00:05:23,480 --> 00:05:26,680 Speaker 1: the technology and buying up crypto or is that more 98 00:05:26,720 --> 00:05:28,360 Speaker 1: of the kind of top end of town. 99 00:05:28,760 --> 00:05:31,280 Speaker 4: It's a tough one to tell because cryptocurrencies haven't been 100 00:05:31,360 --> 00:05:33,360 Speaker 4: around for a long time, so it's hard to see 101 00:05:33,400 --> 00:05:35,120 Speaker 4: these trends. But I think at the end of the day, 102 00:05:35,160 --> 00:05:37,240 Speaker 4: people have their money invested in this and when they 103 00:05:37,279 --> 00:05:40,560 Speaker 4: see volatility in the broader economic market, it means that 104 00:05:40,600 --> 00:05:42,520 Speaker 4: this asset class is experiencing the same. 105 00:05:42,920 --> 00:05:46,560 Speaker 1: And so despite this volatility and despite the shaky grounds 106 00:05:46,720 --> 00:05:50,920 Speaker 1: of traditional markets now being reflected in this once weird 107 00:05:51,400 --> 00:05:55,640 Speaker 1: but now very mainstream type of asset, why are major 108 00:05:55,680 --> 00:05:58,600 Speaker 1: companies around the world still embracing it. 109 00:05:58,600 --> 00:06:01,480 Speaker 4: It's definitely twofold, you know. On the one hand, we've 110 00:06:01,520 --> 00:06:04,160 Speaker 4: had someone like Gucci, a high end fashion brand, come 111 00:06:04,200 --> 00:06:07,320 Speaker 4: out and say that they're going to accept cryptocurrencies as payment, 112 00:06:07,680 --> 00:06:09,280 Speaker 4: and we're seeing a bit of a wider trend with 113 00:06:09,400 --> 00:06:12,440 Speaker 4: luxury brands doing so. And I think, you know, specifically 114 00:06:12,480 --> 00:06:15,320 Speaker 4: for them, the cost of living is rising and people 115 00:06:15,400 --> 00:06:18,280 Speaker 4: have less discretionary income and luxury items are going to 116 00:06:18,320 --> 00:06:20,840 Speaker 4: be put on the back burner. So for them, they're 117 00:06:20,839 --> 00:06:23,920 Speaker 4: really trying to retain customers in an economic environment where 118 00:06:23,920 --> 00:06:26,400 Speaker 4: the demand for their products is going to slow. But 119 00:06:26,640 --> 00:06:29,000 Speaker 4: on the other hand, for other companies, because Gucci is 120 00:06:29,040 --> 00:06:31,599 Speaker 4: definitely not alone in this. We have the lacks of 121 00:06:31,760 --> 00:06:35,560 Speaker 4: Whole Foods, Starbucks, Microsoft, The list goes on who are 122 00:06:35,560 --> 00:06:38,880 Speaker 4: accepting cryptocurrency payments, and for them, it's really trying to 123 00:06:38,880 --> 00:06:42,040 Speaker 4: appeal to a new customer base who believe in the 124 00:06:42,120 --> 00:06:43,320 Speaker 4: value of cryptocurrency. 125 00:06:43,600 --> 00:06:48,120 Speaker 1: It's fascinating that you can now buy a handbag with cryptocurrency, 126 00:06:48,160 --> 00:06:50,160 Speaker 1: and it's also I find it really interesting that it's 127 00:06:50,200 --> 00:06:53,279 Speaker 1: that luxury goods market that seems to be embracing crypto 128 00:06:53,560 --> 00:06:58,240 Speaker 1: faster than non luxury goods. That's a really interesting indication 129 00:06:58,320 --> 00:07:01,760 Speaker 1: of which brands really see crypto as the path forward. 130 00:07:02,279 --> 00:07:04,640 Speaker 1: Maddie and Sophie, thank you so much for joining us 131 00:07:04,800 --> 00:07:07,400 Speaker 1: today on the Daily Ods. We're only a week out 132 00:07:07,440 --> 00:07:10,160 Speaker 1: from a federal election. I wanted to ask you guys 133 00:07:10,200 --> 00:07:13,160 Speaker 1: on a different note, how are you feeling about the election. 134 00:07:13,560 --> 00:07:16,720 Speaker 3: I have been consuming a lot of TDA content. I 135 00:07:16,760 --> 00:07:19,120 Speaker 3: am probably the biggest fan that you have of No 136 00:07:19,240 --> 00:07:22,280 Speaker 3: Silly Questions. I've listened to every episode multiple times, so 137 00:07:23,000 --> 00:07:26,080 Speaker 3: I'm probably feeling the most excited that I ever have 138 00:07:26,240 --> 00:07:27,160 Speaker 3: heading into an election. 139 00:07:27,240 --> 00:07:29,280 Speaker 4: To be honest, and I would be the same, I 140 00:07:29,320 --> 00:07:31,080 Speaker 4: feel like this is the election that I've been the 141 00:07:31,120 --> 00:07:35,800 Speaker 4: most informed. All I do is listen to podcast watch videos. Previously, 142 00:07:35,840 --> 00:07:38,360 Speaker 4: I haven't been as engaged, but I feel like content 143 00:07:38,440 --> 00:07:41,280 Speaker 4: is so accessible now, so I'm pretty excited as well. 144 00:07:41,480 --> 00:07:47,960 Speaker 1: Two delightful, engaged people ready to vote, good luck, have 145 00:07:48,000 --> 00:07:51,240 Speaker 1: a democracy sausage, and enjoy the process. That's all we've 146 00:07:51,280 --> 00:07:53,560 Speaker 1: got time for this week on The Daily Ods. We'll 147 00:07:53,560 --> 00:07:57,040 Speaker 1: be back Monday for the final countdown in the lead 148 00:07:57,120 --> 00:08:00,280 Speaker 1: up to the federal election. Next week, we're doing something 149 00:08:00,320 --> 00:08:02,600 Speaker 1: a little bit different with our podcast. We're going to 150 00:08:02,640 --> 00:08:06,640 Speaker 1: be previewing the five big policy areas one per day 151 00:08:06,960 --> 00:08:09,200 Speaker 1: and giving you the cheat sheet so that when you 152 00:08:09,280 --> 00:08:11,760 Speaker 1: walk up to that booth you can know exactly what 153 00:08:11,840 --> 00:08:14,720 Speaker 1: you're doing until then, have a fantastic weekend and we'll 154 00:08:14,720 --> 00:08:15,600 Speaker 1: speak to you on Monday. 155 00:08:15,920 --> 00:08:16,720 Speaker 4: Happy Friday.