1 00:00:00,160 --> 00:00:03,000 Speaker 1: Hello, and a very good morning on this Friday, the 2 00:00:03,120 --> 00:00:06,440 Speaker 1: tenth of December. We are slowly crawling towards the end 3 00:00:06,440 --> 00:00:08,720 Speaker 1: of the year, one of the last Fridays of the year, 4 00:00:08,760 --> 00:00:12,320 Speaker 1: and we couldn't be happier. Big news yesterday Sam on 5 00:00:12,440 --> 00:00:15,120 Speaker 1: the media diversity front, something that matters a lot to 6 00:00:15,200 --> 00:00:15,880 Speaker 1: us personally. 7 00:00:15,960 --> 00:00:20,000 Speaker 2: What did we find out? A very beefy report was released. 8 00:00:20,040 --> 00:00:23,840 Speaker 2: The final report in the Senate Media Diversity Inquiry recommended 9 00:00:23,880 --> 00:00:27,319 Speaker 2: the Commonwealth initiate a judicial inquiry with the powers of 10 00:00:27,360 --> 00:00:30,960 Speaker 2: a Royal Commission to investigate the concentration of media ownership 11 00:00:31,000 --> 00:00:31,639 Speaker 2: in Australia. 12 00:00:31,960 --> 00:00:34,920 Speaker 1: Sometimes when you read reports that are coming from the 13 00:00:34,920 --> 00:00:38,640 Speaker 1: government or from the Parliament more generally like this inquiry, 14 00:00:39,080 --> 00:00:41,800 Speaker 1: it can be difficult to decipher what the point is 15 00:00:42,040 --> 00:00:44,519 Speaker 1: or what some of the arguments are. This one was 16 00:00:44,920 --> 00:00:49,360 Speaker 1: very clear. It clearly recognized an issue with media concentration 17 00:00:49,600 --> 00:00:53,360 Speaker 1: and media diversity in this country. The New Zealand government 18 00:00:53,440 --> 00:00:56,880 Speaker 1: has announced it'll ban the sale of cigarettes for future 19 00:00:57,040 --> 00:00:59,720 Speaker 1: generations as part of its efforts to have a smoke 20 00:00:59,800 --> 00:01:03,680 Speaker 1: free country. The legislation will be age specific, meaning when 21 00:01:03,720 --> 00:01:06,120 Speaker 1: it comes into effect, the band will only apply to 22 00:01:06,160 --> 00:01:09,120 Speaker 1: people born after a certain date. So really, what they're 23 00:01:09,120 --> 00:01:11,640 Speaker 1: trying to do here is bring up a whole generation 24 00:01:11,959 --> 00:01:13,560 Speaker 1: who will never be smokers. 25 00:01:13,959 --> 00:01:16,959 Speaker 2: Canada and the UK have joined Australia, New Zealand and 26 00:01:17,000 --> 00:01:19,760 Speaker 2: the US in a diplomatic boycott of the Winter Olympics 27 00:01:19,800 --> 00:01:22,120 Speaker 2: in Beijing next year. And just a reminder, this is 28 00:01:22,160 --> 00:01:26,840 Speaker 2: about the diplomatic officials, not the athletes themselves. Canadian Prime 29 00:01:26,840 --> 00:01:30,040 Speaker 2: Minister Justin Trudeau said he made the decision because he 30 00:01:30,080 --> 00:01:33,800 Speaker 2: was extremely concerned by the repeated human rights violations by 31 00:01:33,840 --> 00:01:34,800 Speaker 2: the Chinese government. 32 00:01:35,760 --> 00:01:39,360 Speaker 1: Some Friday good news courtesy of the Northern Territory, the 33 00:01:39,480 --> 00:01:43,280 Speaker 1: NT's Chief Minister, Michael Gunner has announced all interstate travelers 34 00:01:43,319 --> 00:01:46,320 Speaker 1: who are fully vaccinated will be able to travel into 35 00:01:46,400 --> 00:01:50,000 Speaker 1: the territory without quarantining from the twentieth of December. It 36 00:01:50,040 --> 00:01:52,720 Speaker 1: comes as the NT passed the eighty percent double dose 37 00:01:52,800 --> 00:01:56,560 Speaker 1: vaccination rate yesterday. 38 00:01:59,160 --> 00:02:02,160 Speaker 2: It is two weeks since we've been joined by Maddi 39 00:02:02,200 --> 00:02:05,280 Speaker 2: and Sophie from Your In Good Company, one of Australia's 40 00:02:05,360 --> 00:02:08,000 Speaker 2: best business podcasts. So it's time that we get a 41 00:02:08,040 --> 00:02:12,040 Speaker 2: wrap up of the fortnite in business news. Maddie and 42 00:02:12,160 --> 00:02:16,320 Speaker 2: so let's start with the big rebrands we've seen towards 43 00:02:16,320 --> 00:02:18,480 Speaker 2: the end of the year, and I'm interested to know 44 00:02:18,800 --> 00:02:23,240 Speaker 2: what implications those rebrands actually have on the companies financially. 45 00:02:23,440 --> 00:02:27,200 Speaker 3: We recently saw Facebook announce a name change to Meta, 46 00:02:27,440 --> 00:02:30,760 Speaker 3: and then this month we have seen Square rebrand itself 47 00:02:30,840 --> 00:02:34,000 Speaker 3: to block So why does so many household names feel 48 00:02:34,000 --> 00:02:37,040 Speaker 3: the need to rebrand when they're so well recognized for 49 00:02:37,120 --> 00:02:40,280 Speaker 3: their names. Well, for Facebook, the new name is said 50 00:02:40,320 --> 00:02:44,639 Speaker 3: to reflect the company's growing ambitions for beyond social media. 51 00:02:44,919 --> 00:02:48,720 Speaker 3: I guess specifically, the name Meta has been adopted off 52 00:02:48,840 --> 00:02:51,679 Speaker 3: the term metaverse, which we have come to know well 53 00:02:51,720 --> 00:02:55,280 Speaker 3: from Zuckerberg, and it basically just describes the company's vision 54 00:02:55,360 --> 00:02:59,480 Speaker 3: for working and playing in a virtual world. But when 55 00:02:59,480 --> 00:03:02,000 Speaker 3: it comes to Square, they have also followed suit in 56 00:03:02,040 --> 00:03:05,520 Speaker 3: the rebround. So when Jack Dawsy started Square, I guess 57 00:03:05,520 --> 00:03:08,480 Speaker 3: it was just it started out as that og whitetile 58 00:03:08,680 --> 00:03:10,960 Speaker 3: that we all have come to know and love, But 59 00:03:11,160 --> 00:03:15,280 Speaker 3: since then it has really expanded to include stock and 60 00:03:15,320 --> 00:03:19,240 Speaker 3: crypto trading, lending money, and even this year the company 61 00:03:19,240 --> 00:03:22,079 Speaker 3: actually took a majority stake in it Title, which is 62 00:03:22,160 --> 00:03:25,200 Speaker 3: a music streaming platform. So the name Block comes from 63 00:03:25,240 --> 00:03:28,280 Speaker 3: blockchain technology, and it's a space that Jack Dawsy definitely 64 00:03:28,280 --> 00:03:29,800 Speaker 3: wants to delve further into. 65 00:03:30,400 --> 00:03:33,520 Speaker 2: And so when a company changes their name, does that 66 00:03:33,560 --> 00:03:38,120 Speaker 2: have any implications on shareholders or anybody who might have 67 00:03:38,160 --> 00:03:39,200 Speaker 2: stocks in the company. 68 00:03:39,280 --> 00:03:42,840 Speaker 4: I don't think necessarily it changes what happens for stockholders 69 00:03:42,840 --> 00:03:45,240 Speaker 4: in the company. But I think as investors we're often 70 00:03:45,280 --> 00:03:47,320 Speaker 4: trying to see what the bigger picture is and what 71 00:03:47,440 --> 00:03:51,320 Speaker 4: direction companies are actually going in. Now, rebrandings aren't a 72 00:03:51,360 --> 00:03:53,480 Speaker 4: new thing. They have happened in the past. You might 73 00:03:53,720 --> 00:03:57,840 Speaker 4: know names like British Petroleum becoming BP or Weight Watchers 74 00:03:57,880 --> 00:04:01,720 Speaker 4: becoming WW as the trying to show themselves as more 75 00:04:01,800 --> 00:04:04,880 Speaker 4: environmentally friendly or as a wellness brand. But I think 76 00:04:04,920 --> 00:04:07,280 Speaker 4: the common thing that we can really see here is 77 00:04:07,320 --> 00:04:10,480 Speaker 4: that the trend that's emerging is this digital reality and 78 00:04:10,560 --> 00:04:14,400 Speaker 4: digital assets space. So I guess whether you're a believer 79 00:04:14,720 --> 00:04:17,920 Speaker 4: or a skeptic, it's definitely signaling a new trend as 80 00:04:17,920 --> 00:04:19,920 Speaker 4: some of the biggest companies in the world are becoming 81 00:04:19,960 --> 00:04:20,719 Speaker 4: early adopters. 82 00:04:21,279 --> 00:04:24,480 Speaker 2: The other interesting trend that I've noticed with the rebranding 83 00:04:24,520 --> 00:04:27,880 Speaker 2: space is and it's been highlighted with Facebook this year, 84 00:04:28,000 --> 00:04:31,280 Speaker 2: is rebranding being a tool that companies can use when 85 00:04:31,320 --> 00:04:33,520 Speaker 2: they're in a little bit of trouble. And I think 86 00:04:33,520 --> 00:04:37,480 Speaker 2: that's a really interesting observation for the future is you know, 87 00:04:38,200 --> 00:04:41,320 Speaker 2: how much do we as consumers tolerate a changing of 88 00:04:41,480 --> 00:04:44,279 Speaker 2: name as a signal that we're all going to be 89 00:04:44,360 --> 00:04:46,840 Speaker 2: refreshed and better. And that's I think something for us 90 00:04:46,839 --> 00:04:51,080 Speaker 2: to watch next year, especially in the environmental space. I mean, 91 00:04:51,400 --> 00:04:54,520 Speaker 2: so if you mentioned BP, well, I think we're going 92 00:04:54,560 --> 00:04:57,520 Speaker 2: to see a lot of companies that aren't environmentally friendly 93 00:04:57,560 --> 00:05:00,680 Speaker 2: and aren't green just do a quick rebrand, slap some 94 00:05:00,760 --> 00:05:04,719 Speaker 2: green on the color palette and off they go, you trees. Yeah, 95 00:05:04,760 --> 00:05:07,200 Speaker 2: so that'll be a really interesting trend to watch. Let's 96 00:05:07,279 --> 00:05:10,599 Speaker 2: move now to DD. It does have some presence in 97 00:05:10,640 --> 00:05:14,039 Speaker 2: the Australian market. Obviously Uber is the dominant ride sharing app, 98 00:05:14,040 --> 00:05:17,440 Speaker 2: but DD is coming up. They've moved their listings from 99 00:05:17,480 --> 00:05:20,160 Speaker 2: the US to Hong Kong. Can you break that down 100 00:05:20,240 --> 00:05:20,479 Speaker 2: for me. 101 00:05:20,760 --> 00:05:24,360 Speaker 3: Yeah, so DD the ride share app in iPod in 102 00:05:24,600 --> 00:05:27,799 Speaker 3: the US just under six months ago. So just a reminder. 103 00:05:27,839 --> 00:05:31,679 Speaker 3: An IPO or initial public offering, is where a company 104 00:05:31,720 --> 00:05:34,560 Speaker 3: lists on a stock exchange. So, for example, in Australia, 105 00:05:34,600 --> 00:05:37,240 Speaker 3: we have the asx or in this story, we're talking 106 00:05:37,279 --> 00:05:40,800 Speaker 3: about the New York Stock Exchange, and this allows shares 107 00:05:40,800 --> 00:05:43,800 Speaker 3: in the company to be bought and sold by investors. 108 00:05:44,480 --> 00:05:47,680 Speaker 3: So since the IPO, the share price of dd has 109 00:05:47,880 --> 00:05:50,960 Speaker 3: plunged more than forty four percent. And this really comes 110 00:05:51,000 --> 00:05:53,880 Speaker 3: down to a whole lot of skepticism that investors have 111 00:05:53,960 --> 00:05:58,040 Speaker 3: had around Chinese companies with the government crackdowns going on 112 00:05:58,160 --> 00:06:02,520 Speaker 3: over in China. So last week DDS shares fell even 113 00:06:02,640 --> 00:06:06,520 Speaker 3: further because they announced that Chinese regulators have asked them 114 00:06:06,560 --> 00:06:09,640 Speaker 3: to formulate plans to take their listing off the New 115 00:06:09,760 --> 00:06:12,839 Speaker 3: York Stock Exchange and make plans instead to move over 116 00:06:12,920 --> 00:06:15,359 Speaker 3: to the Hong Kong Stock Exchange. And it's all around 117 00:06:15,400 --> 00:06:20,080 Speaker 3: concerns about leakage of sensitive information. This isn't the first 118 00:06:20,080 --> 00:06:22,760 Speaker 3: time I've seen this kind of a thing with different 119 00:06:22,800 --> 00:06:26,920 Speaker 3: companies such as the ant group IPO was suspended late 120 00:06:27,000 --> 00:06:30,240 Speaker 3: last year, as well as e commerce giant over in China, 121 00:06:30,320 --> 00:06:33,520 Speaker 3: Ali Barber has also faced anti trust finds. 122 00:06:33,640 --> 00:06:36,360 Speaker 2: So the idea from Chinese regulators would be that by 123 00:06:36,440 --> 00:06:39,600 Speaker 2: moving it from a US stock exchange to a Hong 124 00:06:39,680 --> 00:06:42,919 Speaker 2: Kong stock exchange, it would kind of allow a more 125 00:06:43,120 --> 00:06:47,440 Speaker 2: tightly held company information. Is that the right read on it? 126 00:06:47,720 --> 00:06:50,040 Speaker 4: Yes, that's definitely the right read of it. I think 127 00:06:50,080 --> 00:06:53,120 Speaker 4: the Chinese government is getting a little bit nervous about 128 00:06:53,200 --> 00:06:56,080 Speaker 4: data that is being held in the US, especially with 129 00:06:56,120 --> 00:06:58,800 Speaker 4: a company like DD. It's a ride sharing service, so 130 00:06:59,360 --> 00:07:02,240 Speaker 4: you can see where people are going, where they're coming from, 131 00:07:02,320 --> 00:07:04,719 Speaker 4: a lot of their personal details, and I think they're 132 00:07:04,720 --> 00:07:06,640 Speaker 4: a bit worried about all that data being and in 133 00:07:06,760 --> 00:07:07,360 Speaker 4: US hands. 134 00:07:07,640 --> 00:07:10,880 Speaker 2: For the third topic, let's talk about China more broadly. 135 00:07:11,080 --> 00:07:13,960 Speaker 2: What are some interesting sentiments we're seeing with Chinese tech 136 00:07:13,960 --> 00:07:15,000 Speaker 2: companies at the moment. 137 00:07:15,320 --> 00:07:17,400 Speaker 4: I think what we're really seeing in the Chinese economy 138 00:07:17,440 --> 00:07:19,600 Speaker 4: at the moment is actually a bit of a slowdown. 139 00:07:19,760 --> 00:07:22,920 Speaker 4: So the government has been cracking down economically on some 140 00:07:22,960 --> 00:07:26,680 Speaker 4: critical sectors aka technology as we've seen with DD and 141 00:07:26,800 --> 00:07:31,400 Speaker 4: the ANT group, and also on high corporate debt aka evergrand. 142 00:07:32,360 --> 00:07:34,520 Speaker 4: So some are saying that this is an attempt to 143 00:07:34,520 --> 00:07:38,360 Speaker 4: focus inwards and replace its growth previously driven by trade 144 00:07:38,480 --> 00:07:41,920 Speaker 4: with the rise of its domestic consumers. And what we've 145 00:07:41,960 --> 00:07:44,800 Speaker 4: really seen is that China has accounted for thirty five 146 00:07:44,800 --> 00:07:48,000 Speaker 4: percent of global GDP growth in the previous years, but 147 00:07:48,040 --> 00:07:51,120 Speaker 4: now it's really slowing down post pandemic and now only 148 00:07:51,120 --> 00:07:52,520 Speaker 4: accounts for twenty five percent. 149 00:07:53,200 --> 00:07:55,040 Speaker 2: Is there an update on Evergrand? 150 00:07:55,280 --> 00:07:57,880 Speaker 4: This week, the Chinese government has come out with some 151 00:07:58,000 --> 00:08:01,400 Speaker 4: documentation which strategize is where they're going to be heading 152 00:08:01,600 --> 00:08:04,520 Speaker 4: in twenty twenty two and how they are going to 153 00:08:04,520 --> 00:08:07,160 Speaker 4: be helping bolster up the economy. And I believe there 154 00:08:07,200 --> 00:08:10,000 Speaker 4: is some information in there about how they can start 155 00:08:10,120 --> 00:08:12,200 Speaker 4: tackling high corporate debt in China. 156 00:08:13,040 --> 00:08:16,400 Speaker 2: Very interesting. I remember that being the dominant finance story 157 00:08:16,560 --> 00:08:19,200 Speaker 2: for about a month this year, and I haven't heard 158 00:08:19,360 --> 00:08:21,600 Speaker 2: what's happened there, So that's really interesting to note that 159 00:08:21,880 --> 00:08:24,600 Speaker 2: the saga will continue in twenty twenty two, Maddie, and 160 00:08:24,640 --> 00:08:26,360 Speaker 2: so this will be the last episode that you join 161 00:08:26,480 --> 00:08:29,120 Speaker 2: us for the year. We're wrapping up our pod at 162 00:08:29,120 --> 00:08:31,000 Speaker 2: the end of next week, having a bit of a 163 00:08:31,040 --> 00:08:34,040 Speaker 2: summer break, and I know that you guys are powering 164 00:08:34,080 --> 00:08:37,480 Speaker 2: on what finance stories do you have your eye on 165 00:08:37,559 --> 00:08:40,760 Speaker 2: this week? And Slash what are you looking at over summer? 166 00:08:41,160 --> 00:08:44,240 Speaker 3: Well, you might remember that Combank recently came out and 167 00:08:44,280 --> 00:08:48,520 Speaker 3: announced that they would be introducing crypto trading to its app. Well, 168 00:08:48,600 --> 00:08:52,200 Speaker 3: it's New York based crypto exchange partner Gemini has announced 169 00:08:52,200 --> 00:08:55,760 Speaker 3: that it's planning to launch an income product for everyday 170 00:08:55,840 --> 00:08:59,440 Speaker 3: Ossie investors. So just like you can earn interest on 171 00:08:59,480 --> 00:09:02,040 Speaker 3: your saving in your bank account, it seems you might 172 00:09:02,120 --> 00:09:04,680 Speaker 3: soon be able to earn interest on your crypto, which 173 00:09:04,720 --> 00:09:06,959 Speaker 3: I am keeping a very close eye on. 174 00:09:07,720 --> 00:09:10,520 Speaker 4: And for me over the summer, one of the topics 175 00:09:10,520 --> 00:09:12,600 Speaker 4: that I am going to dedicate some of my time 176 00:09:12,679 --> 00:09:17,199 Speaker 4: to is electric vehicles and that whole industry. Especially this week, 177 00:09:17,280 --> 00:09:19,560 Speaker 4: Intel has come out saying that they are going to 178 00:09:19,760 --> 00:09:23,320 Speaker 4: list one of their businesses, Mobile Eye, which produces specialized 179 00:09:23,360 --> 00:09:26,360 Speaker 4: chips and software for evs. And I find this so 180 00:09:26,480 --> 00:09:29,720 Speaker 4: interesting because they have said that Mobile Eye's revenue has 181 00:09:29,760 --> 00:09:32,679 Speaker 4: expected to grow forty percent next year, whilst Intel is 182 00:09:32,720 --> 00:09:35,360 Speaker 4: meant to fall by six percent. So I really want 183 00:09:35,400 --> 00:09:37,640 Speaker 4: to understand what it means to list a segment of 184 00:09:37,679 --> 00:09:40,600 Speaker 4: a business and whether that brings up the whole parent company. 185 00:09:41,200 --> 00:09:45,040 Speaker 2: Interesting. That sounds like some very dense summer reading, Maddian, 186 00:09:45,120 --> 00:09:47,600 Speaker 2: So thank you so much for coming on the pod again. 187 00:09:48,120 --> 00:09:51,240 Speaker 2: I believe you guys have a summer series being rolled out. 188 00:09:51,320 --> 00:09:52,560 Speaker 2: Do you want to tell us a bit about that? 189 00:09:53,840 --> 00:09:57,920 Speaker 4: Yes, we have a fantastic summer series coming your way. 190 00:09:58,080 --> 00:10:01,560 Speaker 4: They are short, fifteen to twenty minutes episodes and you 191 00:10:01,640 --> 00:10:04,240 Speaker 4: can listen to them as a beginner investor and take 192 00:10:04,320 --> 00:10:07,000 Speaker 4: yourself all the way to advanced and if you're already 193 00:10:07,000 --> 00:10:10,240 Speaker 4: an advanced investor. There's something in there for everyone. And 194 00:10:10,280 --> 00:10:12,080 Speaker 4: a really great part of them is that we have 195 00:10:12,160 --> 00:10:17,040 Speaker 4: some summer reading, watching, and listening recommendations, so we are 196 00:10:17,120 --> 00:10:19,840 Speaker 4: super excited about it. So head on over and have 197 00:10:20,040 --> 00:10:20,520 Speaker 4: a listen. 198 00:10:21,240 --> 00:10:24,760 Speaker 2: That's you're in good company. It's on every podcast app, 199 00:10:24,800 --> 00:10:26,800 Speaker 2: including the one you're listening to this pod right now. 200 00:10:26,880 --> 00:10:29,280 Speaker 2: Maddie and so have a fantastic summer and we'll speak 201 00:10:29,280 --> 00:10:30,240 Speaker 2: to you in the new year. 202 00:10:30,360 --> 00:10:31,600 Speaker 3: Catch you in twenty twenty two. 203 00:10:32,000 --> 00:10:32,760 Speaker 4: Happy New Year.