Latest / The Curve / TCW44: Never trust a man called Dirk.

Transcript

TCW44: Never trust a man called Dirk. · The Curve

• 0:00
  Hi and welcome to the Curve Weekly. The podcast that keeps you up to date with all the money,
• 0:06
  business and stock market tea. Everyone should experience for us at least once in their lives
• 0:10
  and Annie shouldn't miss out just because she can't afford it. Help me, I'm so excited to be here.
• 0:18
  I'm going to buy some of those. Well you've been sharing your pants,
• 0:22
  but you've been really not keen for today's record. I walked over to Sof in our co-working
• 0:27
  space of the day and she takes shots to a laptop and she's like, yes, I was like, what are you
• 0:30
  doing? Nothing, nothing. I was like, we don't have any secrets. You actually said that.
• 0:35
  We don't have any secrets. Let me see. I hate surprises. She was like, oh it's a birthday surprise,
• 0:44
  isn't it? I was like, I'm really glad you're being so bloody grateful for the amount of effort
• 0:48
  that I've gone to for your birthday special. I'm just scared. What do you think I've done?
• 0:53
  She was like, oh my god, have you gotten me a message from Warren Buffett?
• 0:57
  It's like, no, but I wish I had. Next year, baby, next year. I would have been so much better.
• 1:03
  Now I feel like my birthday present is going to fall flat. No, I love the effort, whatever it is.
• 1:09
  You couldn't have sounded more fake if you tried. I'm so scared. So for anyone wondering,
• 1:14
  they're like, what is happening? So this birthday is this week. It's not her actual birthday
• 1:18
  today, but it's her birthday week. So we're celebrating. We're here. She's turning.
• 1:25
  I'll just keep that one. I don't know, this is a numbers podcast, but that bit.
• 1:28
  35. She's turning 35, everyone. We're very lucky to have had Victoria Harris in the world for
• 1:34
  35 years. Med 30s. Stop it. Sorry. We're not doing any of that shit. This is a celebration.
• 1:39
  35. Yeah. We're a milestone. We're happy to have made. I'm very lucky to have made,
• 1:44
  because lots of people don't get there now. Exactly. I told my niece. She was like, how old are
• 1:49
  you turning? And I was like, three plus five in her face. She was like, oh, she's thinking,
• 1:57
  how many candles we're going to need? And that's a lot of candles. I was like, oh, police.
• 2:02
  So because you're in London right now and you're not around your friends or your family,
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  I thought, oh, can I do for this birthday? What can I do? And I thought, Beck loves a party.
• 2:13
  Loves a party. And so I thought, I'll bring the party to the podcast.
• 2:18
  Oh! Oh, dear God. So we've got messengers from all your best friends. There's a few
• 2:26
  rogues in there. Basically, this is a happy birthday for me to you. Thanks, friend. And you've
• 2:31
  got to pay closer attention. Jazza, can we roll the tape? I love Victoria Harris. She has beauty
• 2:37
  brains and the most wicked's dad humor that she is always the first one to laugh at.
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  She introduced me to McDonald's chicken tenders, ramen, she loves the buggy, she loves an adventure,
• 2:52
  but she is also the most wonderful friend. We're all so lucky to have you, happy birthday darling.
• 2:59
  Hi, I'm Sarah, I'm Vic Sister. One of my key memories growing up with Vic
• 3:06
  was after I had it off to uni. I was searching something on Trade Me and managed to find
• 3:12
  a whole bunch of shoes and bags and clothes that look like mine, and they were all being sold by
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  the HX, and I was so unrealized that it was Vic parming off all my clothes to make a few extra
• 3:25
  dollars while I was away. It's crazy here, Vic's friend. Vic, I absolutely love your financial
• 3:34
  advice best in the game. I just like you to tell everyone how much you invest in.
• 3:41
  Hi, it's Lichy. Why I love Vic is because she is incredibly loyal, she is such a good friend,
• 3:49
  she has been there for me in my hardest times and my best times, and she always brings out
• 3:54
  the best in all of us. So happy birthday, Vic's in, I love you.
• 3:59
  Hi, my name is Holly and I'm Victoria's Better Half. I love Vic with all my heart. She's funny,
• 4:07
  she's naughty, she's sassy, but I've got to say she has got terrible chat with guys sometimes
• 4:15
  on the piss, like the one time when she will remember vividly at a beach party when she asked
• 4:22
  a guy, I was trying to juice them and hug them up, and then she just looked at him and said,
• 4:28
  Polly likes to suck. And that's all she could say, and he walked away. Love you, Vic.
• 4:37
  I am deaf and I'm one of Vic's best friends. We met when we were 19 at University in Christchurch.
• 4:43
  I remember the day that I met Vic so clearly. It was early in the morning where we were at a
• 4:49
  friend's flat and we were both really hung up over. I walked in with two cheeseburgers from
• 4:55
  McDonald's that I had just gotten a two for one deal. We all know that love's a deal so I think
• 5:00
  she was really impressed by that. I offered my second cheeseburger to Vic and I think it must have
• 5:05
  been a good one because it started a lifelong friendship with her. Happy birthday, Vic. I love you so much.
• 5:11
  Hello, I'm a female. I love asking Vic because we put cotton buds in our ears and nose together.
• 5:23
  Hi, Wiki. It's Clara. Goodness, I have so many funny memories with you. Most of which are not
• 5:29
  safe to work, but later on, a podcast that's taken over the world. I just wanted to say
• 5:35
  happy birthday and I love you so much and I'm so excited that you're coming back to me.
• 5:41
  Love you lot. It's proud of you. Hi, I'm Lauren. Happy birthday, Vic. You legend of the human being.
• 5:47
  My absolute favorite thing about Vic is when she was about age, she would look in the
• 5:51
  phone book for married couples who lived near her and she wouldn't have loved let her from the
• 5:55
  perspective of the other woman, hoping to cause some strife. The wife would get the male and
• 5:59
  open a love letter to her husband, Richard, and an eight-year-old's handwriting.
• 6:03
  The weirdest part is imagine opening that letter but also imagine eight-year-old Vicki
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  cat flinging her bedroom writing these letters. How to achieve and think of this. That brain
• 6:11
  knows no bounds. We love you, Vicki. So excited to see you. Hi, it's Foxy and I am the
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  favorite sister. Sorry, Sarah. Wiki, I want to wish you the happiest of birthdays over in London.
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  I hope you're having an absolute hope. We're missing you loads. One solid piece of advice from me.
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  Make sure you wear a birthday top. That's going to look good with denim shorts.
• 6:42
  Oh, the less. Oh my gosh. Wow. How cute is a failure? Your niece is the cutest in the world.
• 6:48
  I think we also have one more surprise for your birthday. Just one moment please.
• 6:52
  Oh my gosh. So Vicki's been sent flowers by a really cute boy.
• 6:57
  Oh my gosh. They're really nice flowers. Like he did from her. He did good.
• 7:03
  Do we need to beep his name out? Is that a thing we're not allowed to say? Should we just say like flower
• 7:06
  guy? He can be flower guy. Flower guy. Flower guy. Love that. Yeah. It's a it's definitely a hard
• 7:11
  launch though. Like we haven't talked about him on the podcast at all and then all of a sudden
• 7:14
  that's going to relate to him, right? Are you in a relationship? I want to be on the podcast.
• 7:19
  I'm going to deliver flowers to you. She's taking boys all the men that listen to the
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  book guys, which is like one who's like, I've never listened to any sort of like bullshit.
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  He's probably the only guy that listens to this podcast. Oh, please. Thank you,
• 7:32
  Thalman. Very. We love you. Yeah. There's actually another surprise.
• 7:37
  Which no, it's actually you're going to love me forever. Like you're going to love me so much.
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  I caught you in a rap. No. Oh my gosh. I'm a dice in a rap. Yeah. Vicki's always banging on
• 7:51
  about her here and how it's so hard to make it look. And I'm like, Sophie, how's that sponsorship
• 7:55
  with Dyson coming along? Honestly. legit. Your hair's going to look so good. Wow. Yeah. Flowers,
• 8:02
  messages in an air rap. I already, I'm just it's still two days away to my best out of it. I know.
• 8:08
  It's really nice. I just call it a day now. Yeah. I've probably taken the entire Curve Weak Play
• 8:12
  celebrating you, which is probably a little bit of self indulgence. So maybe we should get on to
• 8:17
  the actual finance news. Yes. Okay. So I wanted to give an update on WeWork because it's kind of
• 8:24
  what I've seen at all of the news. I don't know if anyone else cares or has, but yeah,
• 8:29
  it's been in the news. And even we were having a discussion where you had spoken to a friend
• 8:33
  and you were like, I don't actually think they're beginning to go bankrupt and all this. And so
• 8:36
  there has been a lot of discussions of who is actually going to buy WeWork because it might not
• 8:42
  actually disappear. So a couple of weeks ago, we spoke about this because they declared bankruptcy.
• 8:48
  Yeah. And we're like, oh my gosh, there's all these locations around the world. What's going to
• 8:52
  happen to all the people who use their space blah, blah, blah. And it's kind of an unfolding
• 8:58
  story. Yeah. So where's the net now? They, well, I just wanted to kind of explain the options
• 9:03
  that a buyer would have because you've got a ton of locations around the world. But I think
• 9:10
  they've got about 800 locations around the world in about 40 different countries. And I think
• 9:15
  the key thing is I think now they've declared bankruptcy. It's almost like it could be a really
• 9:20
  good deal for a company to buy them. And why do I say that? Well, once they've declared bankruptcy,
• 9:26
  that means they can go to these landlords and say, look, we're bankrupt. We're either going to
• 9:31
  have to break this lease, which is not a good one. Or we won't be wanting to exit for a while,
• 9:35
  but you haven't let us, but now we're bankrupt so we can't pay. Or they'll go to the locations
• 9:39
  that they want to keep and say, look, we want to renegotiate because we can't pay this high
• 9:44
  rent. So they're actually, we work as now in probably a better position from a bargaining point
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  of view. Like if I was a landlord and we work was a large tenant of mine and they came to me and
• 9:54
  said, look, I need to renegotiate at 50% lower rates. Or, you know, I'm going to pay 50%
• 9:59
  lease now. I'd probably be in a position to say yes. Do you know what I mean? Rather than be like,
• 10:04
  no, no, see you later. And I've got to fill that massive space with maybe 10 tenants
• 10:09
  because we work such a big tenant. So they're kind of there now in the power is kind of what I'm
• 10:15
  saying. So it could actually be a really great way for them to kind of reshuffle their locations,
• 10:20
  their leases, keep the ones they want, get rid of the ones they don't renegotiate the good ones,
• 10:25
  all of that. So I think it's actually a much stronger business coming out of this. Whether
• 10:29
  are we a public business? Probably not. They're probably going to private hands. But yeah, I just
• 10:33
  wanted to kind of give an update on. So does that mean for the people that own we work shares? They
• 10:37
  would get bought out by the person who buys the company? Yes. Yeah. So I mean, they've had a terrible
• 10:44
  run. They're down about 90%. So the likelihood of you, if you bought when an IPO, for example,
• 10:49
  the likelihood of getting that money back probably not going to happen. But yeah, there could be,
• 10:54
  I guess, something salvageable is what I'm saying. But yes, from a shareholder point of view,
• 10:57
  if you're holding on for that hope that's going to get bought out, it's probably not going to
• 11:01
  shoot the lights out. Do you know what I mean? It's more. They might lose 60% of the money rather
• 11:05
  90% of the money kind of thing when they actually get bought out. What I find really interesting about
• 11:09
  this sort of scenario is if a company has done terribly in terms of its share price, so it's
• 11:16
  gone down 90% and yet someone would want to buy it and turn it around and it's seen as a good
• 11:22
  opportunity. Confuses me. The idea, I wouldn't want to go near a company that are done badly.
• 11:28
  Yeah. In that way, it's just because my brain isn't wired from a business perspective to see the
• 11:33
  numbers and understand how it would be a good investment. And I think it comes down to kind of what
• 11:37
  assets a company has, for example. You know, if they owned a lot of vehicles, for example, it was
• 11:43
  an automotive company and that wasn't going, you know, share prices fall significantly, but they
• 11:47
  had all these cars that you could sell and make up more than the worth of the company. It's a
• 11:53
  no-brainer. You know, it's kind of, I'm trying to say, all like, say a clothing store. They're
• 11:57
  sales have been terrible, but they've got all this stock and hey, if you sold all that stock
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  for half price, it would be worth more than the value of the company than it's a no-brainer.
• 12:05
  So it's kind of thinking of what assets does that business have that you could salvage
• 12:09
  and making kind of estimations on what those assets are worth and whether it's going to be more
• 12:14
  than the value of the company. Another thing that I saw was everyone's kicking up a fuss about this,
• 12:19
  what we call shrink-flation. Ooh, so inflation's getting smaller. No? No. What? Isn't that the whole
• 12:26
  point of shrinking? Now, this is where I get my props. Oh. This is such a proper episode. Oh,
• 12:33
  I'm kind of hungry too, so I might just have a little nibble. But what I want you to do so,
• 12:38
  it's kind of hard to, because there's nothing to compare it to. That's right. Oh, I'm handing
• 12:42
  her an Oreo. Okay, I think you can love Oreo. How good. Yeah, yum, it's nice. There's been a big
• 12:49
  kick-up and a big fuss because there's a giant snack company called Mondales and they own brands.
• 12:55
  They were part of Kraft Heinz, the tomato sauce and yeah, and they own Oreos. They own top
• 13:02
  of Rome, they own Cadbury. Also a lot of big brands. Yeah, a lot of what's according to the big
• 13:06
  company, Mondales. Mondales, I like that. So it's a public company. It's listed on the London Stock
• 13:11
  Exchange and about a hundred billion dollar company, actually. But anyway, so they own a whole
• 13:16
  bunch of different brands all around the world. One of them is Oreos. Now, they have been accused,
• 13:21
  oh, and she's in for it. Yeah, I'm not mad at the product. No, I mean, sorry. Yeah, that's right.
• 13:26
  They have been accused of what we call shrink-flation. So instead of increasing the price of Oreos,
• 13:32
  they've reduced the cream in the middle. No, yeah. Do you know what's so weird? When I opened it,
• 13:36
  I thought there's not a lot of cream in it. Yeah. Oh my God. And so people have been like up and
• 13:42
  up. So they're basically like, how can we save a dollar? Let's take half of the cream out.
• 13:48
  Yeah, definitely. So people have actually been buying Oreos and doing studies on, you know,
• 13:55
  so weird. I genuinely, when I opened it on a sea thought that, I thought I'm sure they used to be
• 14:00
  more in there. What is it? How do they know they're going to get away with that then? But anyway,
• 14:05
  they sell 40 billion of these cookies a year. Not packets. Who knows? No cookies. Yeah. Anyway,
• 14:10
  they have come back and said, look, we haven't messed with the cookie to cream ratio.
• 14:14
  We have a gaffer through. Yeah, a gaffer through. I'm not necessarily gaffer through.
• 14:18
  Anyway, they used to be back in 2016. There was also another uproar with Toblerone. They were accused
• 14:26
  of increasing the gaps of the Toblerone to save money on your list. I'm also like, who is sitting
• 14:32
  there measuring the gap of a Toblerone? You would come up with that. Oh, look, if it's too much
• 14:37
  spare time, I'm sorry, I do not have that much spare time. No, no, I mean, you would be the business owner
• 14:41
  that's like, right, we're going to make more gaffy chocolate. Oh, gosh, yes, yeah.
• 14:47
  But it's just used a little bit less cream and no one will notice if it was Sophie Hallwright
• 14:51
  and a little alone that you kept. Hey, how obvious is it when you're eating it though? It's much more
• 14:56
  dry. It's an actual real thing. And Dominos was accused of it a while ago. Smaller pizzas.
• 15:01
  Smaller pizzas. So same price. It's like, hey, get our pizzas at $5.99. It's like, hang on.
• 15:05
  And someone measured the pizza and was like, you're 14, that just actually only 12 inches,
• 15:09
  all of this stuff. Anyway, I went and a little bit of a rabbit hole this afternoon and I was
• 15:13
  sitting there making people laugh because I started to read the comments after this article.
• 15:17
  Oh my god, amazing. And everyone's like, you want to know about shrinkflation,
• 15:21
  open a box of Kleenex tissues. Companies have reduced the number of tissues in a Kleenex box.
• 15:26
  And then everyone's like, oh, have you opened a box of cereal lately? Now, there's a tragedy.
• 15:29
  Like, honestly, the comments I was like, girl scout cookies, they used to be way bigger.
• 15:34
  And someone's like, you were just a little bit at the end. Oh my god. So funny. And then Ziploc bags
• 15:39
  apparently, they've been made out of thinner material. Honestly, it's crazy. And then the last one,
• 15:44
  which maybe laugh. So the CEO's name is Dirk. And this one person was like, never trust a man named Dirk.
• 15:51
  Anyway, quite funny. Can you bring non props? I think we need to make this whole episode
• 15:56
  more regular occurrence. It's quite fun. Also, this is not sponsored by Oreo as much as it sounds
• 16:00
  like it is. Now, there's been also a study that's come out that has shown that the life expectancy
• 16:06
  of women, so the gap between the life expectancy of men and women has widened. And so the average
• 16:13
  life expectancy for both men and women used to be about 79 years old. And it's now formed
• 16:19
  in 76. It's mainly due to COVID, so it's been thrown out the statistics there. So women
• 16:24
  are actually living about eight years longer than men. This comes back to the whole argument of
• 16:31
  why we need to seriously consider our time in our 20 year holiday savings. And because this gap
• 16:39
  is getting wider and wider. So back in the 1970s, it used to be the gap was eight years. Then it fell
• 16:46
  to about five years in 2010. And it's now widening again. And it's all because I was looking into
• 16:54
  this and I said, why are we living longer than men? And it's mainly because of drug overdoses,
• 16:59
  suicides, the pandemic, which all disproportionately affected men, which is quite wild. What do you mean?
• 17:05
  So more men are dying earlier than women? Because of pandemic. Yeah, because the pandemic,
• 17:11
  suicides, accidents like drug overdoses, unintentional injuries. So there's heaps of reasons.
• 17:16
  It's not, yeah, sorry, it's heaps of reasons. But it just means it goes to show that if that keeps
• 17:20
  increasing, we keep living longer and longer than men, those that are in marriages or relationships
• 17:25
  as men, you're going to be living longer by yourself. And we're just going to have to be a lot more
• 17:30
  financially secure and set up the longer that we live on our own extra money. This will be maybe
• 17:35
  that bought it for by ourselves. So say money for activities. Yeah. So it's just a good reminder
• 17:41
  that we need to sort out finances more than anyone because we're living longer. We've got enough
• 17:47
  money to go the distance. Yeah. So lastly, Amazon and Snapchat. So Amazon has written a deal with
• 17:54
  Snapchat in regards to, I guess, the heating up of competition with TikTok. I was about saying
• 18:00
  they're going to do like a team up or it's like, you can buy stuff through Snapchat. Yeah,
• 18:04
  exactly. Yeah. Yeah. So you can, you can already do that through meta. So on Facebook, you can buy
• 18:10
  stuff and it goes through to Amazon. They've now signed up Snapchat. So you can do that. So they're
• 18:14
  really trying, I just kind of love the, the kind of the competition or the, I guess, the
• 18:20
  petting off against each other that all these big tech companies are doing high school.
• 18:23
  Totally. Like I was Snapchat over here. Yeah. Facebook over here. We've got Amazon. Like they're
• 18:29
  all good. Yeah. Yeah. It's quite funny. And they're all fucking bullying each other. Yeah. And they're
• 18:34
  all like, oh, well, you brought out this feature. I'm going to bring out this feature a bit
• 18:36
  a bit better. Yeah. It's honestly. It's like they're all fighting. I do like love it. Yeah.
• 18:42
  It was funny. I took my Apple laptop into an Apple store and they said to me they're like,
• 18:48
  oh, it was running really slow. And they were like, maybe don't use Google Chrome. And I was,
• 18:51
  they're like, they're like, you safari. And I said, oh, safari and Apple application,
• 18:55
  they're like, yeah, and it's like, they all worked together way better. And I was like, oh, my God,
• 18:58
  is this is an example of like, don't use Google products. Use Apple products. And I was just
• 19:02
  like, oh, my God, you just don't want me to use Chrome. I guess this is a blatant way of getting
• 19:07
  a customer to use more Apple applications than Google and like, so I'm not how annoying to wait
• 19:12
  in the queue to get into Apple. To be told, all you need to do is open up your safari.
• 19:16
  I mean, they've got me using safari right now, so yeah. But anyway, so yeah, it's quite
• 19:20
  interesting move from Amazon to be taming out with Snapchat. Yeah, it'll be interesting to see
• 19:26
  how that plays out because now you can buy things through TikTok. TikTok shop? Yeah, yeah, exactly.
• 19:31
  So a lot of the social media companies, which we're talking about before, are having these
• 19:35
  lawsuits against them because children are becoming addicted to their platforms. And it's
• 19:39
  causing mental health issues. So we saw that Metro was being sued, but so it's TikTok, Google,
• 19:44
  Snapchat. So yeah, there's a lot going on in this space. The thing is, what is that going to do?
• 19:48
  Like, what is sewing them going to do? It's not going to put a dent in their profit. So what's
• 19:52
  that? What are they trying to get out of it? Well, it'll mean there'll be laws in place, hopefully,
• 19:56
  that will restrict them from either putting content in front of children or having to restrict
• 20:02
  the ages that can use a platform or the hours that children are certain ages. They'll be
• 20:06
  some kind of... I think that's good. Yeah, I hope that happens. Yeah, definitely. Yeah, and that's
• 20:10
  all I've got for you today. Okay, well, that was a great episode. Yeah.
• 20:14
  I would really like to say thank you to the Flarell man. Yeah, thank you. Can we call him?
• 20:19
  Should we call Flarell man? Yeah, let's call him and say thanks.
• 20:22
  I don't think he's going to feed us. He doesn't. Hi, how are you? Hello.
• 20:29
  So just if I are on the podcast. Hard launch, hard launch. Hard launch.
• 20:35
  Thank you very much for my flowers. That was a good move. Very good move.
• 20:43
  Oh, don't play. Don't play this. I know exactly who they're from.
• 20:47
  They sure will put it on. We'll put it on. We'll put it on. We'll put it on.
• 20:50
  Oh, it will be very awkward if they weren't from you. Are they from you?
• 20:52
  Absolutely. No, thank you. That's fucking cute. Yeah, good from you.
• 20:58
  I love our relationship and you made the debut on the podcast.
• 21:02
  What do you mean on the debut? I'm sure. Oh, as if that wasn't intentional.
• 21:05
  I'll send them to a podcast studio. So I'll have to be on the podcast.
• 21:11
  Okay, I'll let you go, but thank you very much.
• 21:13
  No, I don't need to let me go at all. It's not to hear the voice.
• 21:16
  Oh, that is very sorry. Oh, my God.
• 21:20
  I'm missing Blanche Mark. Oh, so cute.
• 21:26
  I'm going so really. I'm getting teary.
• 21:29
  We're literally recording right now. You. Oh, my God. Yeah, you're on the podcast.
• 21:34
  Bring me on the podcast.
• 21:37
  Okay, bye. Okay, bye, bye, bye, bye.
• 21:39
  Get him off of our front yard.
• 21:42
  Your twits.
• 21:43
  Yeah. Thank you so much for listening to the Curve Weekly.
• 21:46
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• 22:08
  Bye. Bye.
• 22:10
  See you next Tuesday.
• 22:12
  Wow.
• 22:15
  See you next Tuesday. I mean, Monday.