Latest / The Curve / TCW78: The Paris Olympics special.

Transcript

TCW78: The Paris Olympics special. · 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 poor.
• 0:15
  So this is a bit of a longer episode this one. We've dressed up, so we thought we'd make the
• 0:21
  most of our costumes. We're doing a bit of an Olympic special. Yes, and also we didn't do
• 0:25
  a race in the curve last week. There's been lots going on, but there was so much research done
• 0:30
  for this episode. We thought the curve week, please, normally short. It's normally like 30 minutes,
• 0:33
  but this is slightly longer. So enjoy all the extra research and knowledge that is bringing
• 0:39
  you to the table. Yeah, thanks, sir. Oh my gosh, this is so good. You look amazing. Holy
• 0:49
  shit, I can't believe we dressed the same. If you could see this now, honestly. So I text off,
• 0:55
  I was like, this is going to be an Olympic special. So can you dress up as either an athlete or a
• 1:00
  French person? And we both turn up wearing the same thing. I don't have much sports gear. So I was
• 1:08
  like, what on earth are we going to wear? We're both to not with black berets. I want to
• 1:13
  wear a swimsuit with goggles, but couldn't find it. Next time, next Olympics, and for
• 1:22
  years time, I will. Oh my god, that would have been iconic. I know. I want goggles in a swimsuit.
• 1:27
  Also, have you seen that Instagram post today? Our one. Yes. No. Wait, speaking of goggles.
• 1:36
  Oh, yes. Sorry, yes. I was like, so I'm going to kill me.
• 1:43
  No, I think that it's so funny. Also, if anyone that's like, what are you talking about,
• 1:47
  basically, I just, it's quite weird dressing as a French person when I feel Italian. I just got
• 1:52
  back from my Italian who's so cultured, babe. You know, I'm just like, I'm basically European
• 2:03
  these days. I do feel like lipstick is not something that suits my face. And also, when I was
• 2:09
  putting it on this morning, it took me like 15 minutes. And I just thought, I don't have time for that
• 2:13
  shirt. Yeah. I don't have time. But also it's like, it's so hard to do well. And I feel like I
• 2:18
  always see girls wearing epic lipstick. And now I'm going to be like, you found respect.
• 2:23
  Also, it's like, I feel like I would wipe my face or like rub my mouth and have it smear
• 2:29
  on my cheek, you know, and no one tell me. I kept like trying to put it on. And then I would
• 2:33
  mess it up. Then I just don't think it'll wipe it. But then I'd put red shirt on the top of my
• 2:38
  clothes. I was like, oh, this is so hard. I don't know what it is. But I think it also accentuates
• 2:42
  the mustache, you know, like as soon as you got lipstick on, all of a sudden I was like, well,
• 2:48
  I'm, it's just very, but you look so chic. No, but it's only because it's dark. And the natural
• 2:56
  light I look like I've had a 24 hour bend off. Everything looks better in the dark. Also,
• 3:01
  I'm broadcasting broadcasting. I love that I always say make it out like with the studio.
• 3:06
  It's just such habit from working in radio from Shortage House. And they've got this little
• 3:11
  podcast studio, but the light's got for every 10 minutes. So I'm going to have to keep getting
• 3:14
  up and turning them on. Sorry about that. No, but the Instagram post. Yes. Which you mentioned,
• 3:19
  which people might be like, what are you talking about goggles from suit to go check it out?
• 3:24
  So I just got back from Italy.
• 3:30
  Oh, here she goes. Goes to Italy once.
• 3:43
  The first time was two years ago when we were with friends and it was like a really stressful
• 3:50
  holiday for me because I just didn't plan it at all. Had no emergency fun, had to take all this
• 3:54
  money out of my investments while I was like, the whole thing was just like ridiculous.
• 3:58
  I remember sitting at Preat with you. I've never seen someone so stress when they're about to go
• 4:01
  line a beach in Europe. Well, it was really a holiday for me. And now I look back in hindsight
• 4:08
  having actually had a holiday. And I'm like, oh, oh, that's what that's what they meant to be like.
• 4:14
  You're not meant to be stressing every time you swipe your card or because you've in your
• 4:19
  head, it's like you've already spent that money because you've planned for it and you know
• 4:22
  your budget. So every time you're buying, so if you feel fine about it, whereas when we're in Italy,
• 4:27
  the first time I was just like, even I remember this is so embarrassing to admit, but I remember when
• 4:31
  we got back to London and everyone had seen split wise. And I was like, I avoided it for so long
• 4:38
  because I was just like, I can't believe I've to pay more money. Like it was ridiculous.
• 4:43
  That is the worst thing about a group holiday is the after the after payments.
• 4:48
  Particularly when you don't really drink wine or smoke cigarettes and you're
• 4:53
  bills. But anyway, this post on Instagram, I wrote a blog while I was there and I had no joke. I was
• 4:59
  sitting in the most beautiful part of the world in a sunbed because you don't have to pay for them
• 5:05
  over there. You've got to be like, sometimes 150, 200 euro just to lie on a sunbed. It's ridiculous.
• 5:12
  Which I find so strange coming from New Zealand where the beach is free for everyone and then
• 5:19
  you have to pay to lie on the beach. It ruffs me up so much and I've fought with the owners of
• 5:25
  restaurants and the white stuff. How embarrassing. I know. And then I just put my towel down here then
• 5:30
  on the ground and they're like, no, sorry, it's like they own, they actually own sections of the
• 5:33
  beach. So you can't. Yeah. We decided, and this is like what I wrote, I wrote a blog basically
• 5:38
  at this specific place because it was one of those days where I knew my budget and I knew that I
• 5:43
  couldn't, sorry, the light wasn't there. I knew that I couldn't afford to eat at this place,
• 5:50
  but I wanted to send the data. So rather than I found out that it was like a 30 euro or 35 euro
• 5:56
  just to sit there and sunbathe. So I bought all my own snacks, everything. And I had like all
• 6:01
  of that. I was like eating out of my bag and like shoving bread in my mouth like softly when the
• 6:06
  people were like, do you want anything? And I'm like, no, no, no, I've been here all day. I'm not
• 6:10
  hungry at all. But like TV, it's really loud, you know? Anyway, this Instagram post and the blog
• 6:16
  that I wrote was at this particular restaurant while I was just reflecting on the fact that like,
• 6:21
  I'd done this holiday so much better than I had two years ago. I was able to enjoy myself
• 6:27
  actually, like, had planned and saved and wasn't stressing out while I was there as
• 6:32
  able to relax. And so I just started writing this little blog and we put it up on the website
• 6:36
  yesterday, I think. But the Instagram post that went out is, I'm sorry, videos from us
• 6:43
  and Italy two years ago, first now. And there's like these things.
• 6:47
  It was police, our social media girl Bella, she was like, back to many videos of, sort of,
• 6:53
  in Italy. And I was like, I was literally scrolling and pissing myself sitting there, my desk.
• 7:01
  Just like reminiscing, it's actually quite a fun, therapeutic thing to do. It's like, go back
• 7:06
  through your camera roll and just like, look at your past photos. I was just like, oh my gosh,
• 7:10
  it was so funny. Yeah. There was this video of me in goggles, like, full on big goggles in the pool,
• 7:17
  like, kind of reminds me of Hugh Grant and Notting Hill when he goes to the cinema with the snorkeling
• 7:24
  mascot. What a compliment. That's iconic. It's so good. Anyway, I must say, all in all, if anyone
• 7:33
  here is like listing and thinking, oh god, like, you know, every time I go on holiday, I'm stressed
• 7:38
  or like, and actually one of the biggest things that I think I learned, particularly actually
• 7:42
  on this one, was going with someone who had a different budget to me and how to navigate that,
• 7:47
  because you're always going to be on holiday with friends or family who can't afford or can't
• 7:52
  afford things that you can or can't. And it was a really cool experience where I was with my
• 7:58
  boyfriend and he's like very open about talking about money and then my friend. And we spoke
• 8:07
  heaps about money, about like, on the plane over there, we wrote a, you know, we went through our
• 8:12
  daily budget. What did we value? What did we actually want to spend money on? I'm so proud of you.
• 8:16
  I know. Like, even thanks for having obviously being cigarette. He was like, you know, I've got,
• 8:20
  I've got to have ten euros for suit. And I'm like, well, that's not part of the joint money.
• 8:23
  Yeah. Yeah. Sorry. No. Sorry. No. That's come every person look out. But it's also good to just
• 8:29
  almost clear the ear, but like have those conversations. So then it's not like every time you're
• 8:35
  buying something or every time you're spending money, it's like, they haven't talked about it all
• 8:40
  like, oh god, it's just like set the playing field and then you can enjoy the rest of the holiday.
• 8:46
  I think is a really, really mature thing to do. So well done. It was the first time I'd
• 8:51
  ever been on holiday with anyone, let alone a boyfriend that I spoke about money with. And
• 8:57
  it was very refreshing. Even things like we, we hired a Vespa for a couple of days. And there
• 9:01
  was these really cute, chic actual Vespa's that were like, baby blue, pink, white, like so cool.
• 9:08
  And then there were these horrible like, you know, I would've been like, baby blue ones,
• 9:13
  a few times. Yes. But interestingly, I was like, do you know what? I don't really care that much
• 9:19
  about the scooter. And so I said to him, I was like, oh, look, I'm happy to go for the cheek one.
• 9:23
  And he was like, I kind of want to have the Vespa. I'm pretty sure I saw a pale blue one in
• 9:28
  some photos of yours. Yeah, because that's the one we went for. And you've got a gram that's
• 9:32
  shit if you're paying more for a painting. It was actually quite funny at one point when
• 9:38
  pulled up to this, we just picked it up. We pulled up to speech and there was this couple there
• 9:42
  that were definitely the Instagram, you know, a couple. They had like the drone and their big
• 9:46
  giant camera and stuff. And we were taking, trying to take a photo of ourselves on the scooter.
• 9:51
  And then they were like, oh, do you want to take a photo? And then they start unpacking the drone.
• 9:55
  And we're going to take a drone shot of us on the scooter. We sat there at 10 minutes. I was like,
• 10:00
  I feel real good. I don't know if we need the drone photo. But now they're unpacking it all.
• 10:04
  Like anyway, it was that they didn't didn't end up working for whatever reason. But I was just
• 10:08
  like, that would be quite cool. It would be quite cool. I was like, actually, maybe this would be fun
• 10:14
  there. I also think that's really important conversation around like saving for long-term goals
• 10:19
  versus short-term goals, like saving for a holiday, which might be in like six months or a year or
• 10:24
  a couple years versus saving for more long-term goals, maybe buying a house, retiring, that kind of
• 10:31
  thing. And I think it's really important to have those short-term goals because I don't know, we
• 10:38
  all operate in a world of instant gratification and we want. You know, we want something near-term
• 10:44
  that we can be motivated to achieve. And so I think it's really important to also reward yourself
• 10:50
  for saving and putting money aside consistently and regularly for a short-term goal, as well as
• 10:58
  a long-term goal. But it's really important. And you can have both. It's not like you should put
• 11:02
  all your money away for future you and not live life. It's definitely a balance.
• 11:08
  Well, I think that's kind of what I felt for the first time because it was the first time that I
• 11:13
  had almost guilt-free spent money. I know that sounds like a really weird thing to say because
• 11:18
  obviously it wasn't. I was still spending money. But it was because I had planned for it and I knew
• 11:24
  what I was spending each day. And if I went over it, I would pull back the following. And also,
• 11:29
  I was like, really aware of the fact that my boyfriend doesn't have a job right now. And so for
• 11:34
  him, it's like, and actually, there was this really awkward time where I, but we decided we'd do
• 11:39
  two nice dinners or lunches at each location. So we went to two different spots initially.
• 11:44
  And so we had dinner. We would go out for dinner, like more cheap, normal amounts,
• 11:50
  but that we would have two kind of splash-outs. And so one of them that I booked was at this amazing
• 11:55
  place that we'd scooted past or like something. And I thought, oh, that looks really cool.
• 11:59
  We're both like, that looks amazing. So I went on the website and I booked it. And it said,
• 12:03
  a minimum spend of 70 euro per person. And I was like, oh, that's quite a lot. And that's our daily
• 12:09
  budget. So, you know, like, that's probably pushing it. And I would be stressed out if I was there
• 12:15
  without a job. So I said to him, I was like, look, I'm really happy to kind of like split that.
• 12:19
  Like, I'll pay for the half of yours that is, you know, like the minimum spend or whatever.
• 12:25
  Which was kind of a funny conversation to have because it was like, I've never been in that
• 12:28
  situation before where I've been slightly more financially stable than someone I've worked.
• 12:34
  I'm always the one that has less money or is on a lower budget. And you always feel so anxious
• 12:38
  and awkward, like you're ruining the holiday, you know, because everyone's having to adjust
• 12:43
  themselves to you. Like, that's how I've always felt. I know that's not what people feel being
• 12:48
  around me. Well, I hope, but I've always had that. And so being in a situation where I knew that's
• 12:54
  probably how he was feeling. And I didn't want him to. But equally, I really wanted to go to this
• 12:58
  place. I was like, we can, I'm really happy to pay the difference because that's something we
• 13:04
  get to both enjoy. But anyway, we turned up and it was like fine, fine dining. And I was like,
• 13:10
  so embarrassed and awkward and wanting to leave straight. I honestly, what went through my
• 13:14
  head was like, I'm going to fake that I'm sick. And then we can't come anymore. And then hopefully
• 13:19
  they won't charge us the minimum. Like, I felt really uncomfortable because I was like, this is
• 13:22
  so unfair to going to a place that's this expensive when we have a budget, you know, we're not in
• 13:29
  like a, and you didn't even joy it. No, well, basically what we ended up doing is not drinking alcohol.
• 13:34
  So we didn't have any alcohol. And it was the biggest hack ever because we were able to eat all
• 13:39
  of this beautiful food, been amazing location, but just not have a 25 euro cocktail, which
• 13:45
  would not be hung over the next day, which is great. We ended up spending less than what we had at
• 13:51
  some like more cheap places where we'd been drinking. And it was like, okay, this is a hack.
• 13:55
  But overall, did you have a good time? Oh, it was so good. And you wore sunscreen?
• 14:02
  I did have one moment where I got, I had a zone call with soap and I was like, oh, wow.
• 14:08
  So I might got a bit excited there initially. It's also so unfair that it's coming from you because
• 14:13
  you don't even wear any. You just look like a lobster the day after and you're like, it's fine,
• 14:17
  it's fine. We'll go to 10. It's fine. It's fine. It's fine. It's fine. I know.
• 14:20
  So just to wrap it up, that's because I know that we would probably have talked about this for too long.
• 14:24
  But I've realized it sounds privileged to be like, am I a telly in holiday? And to be putting out
• 14:30
  like Instagram posts or blogs on it. But I just want to profess the whole reason I wanted to do it
• 14:34
  was to because I also wanted to be proud of being able to enjoy that. And everyone that listens
• 14:41
  to this podcast or knows the content we've put out knows that this is not like normal for me to be
• 14:46
  able to go and splash out and spend money on things. But it was one of those moments where I looked
• 14:50
  back at the last couple of years of how much I've learnt and how much I've learnt to be better with
• 14:55
  my money and thinking about things and have open conversations. And there's no way I would have
• 15:00
  ever got to that place. And it not been for, you know, the money recently and all the things that
• 15:06
  we've done through the curve. And when you commented on that post on Instagram being like, proud of you,
• 15:11
  I honestly got like a material. I was like, wow, I didn't realise I needed some words of
• 15:15
  affirmation. Good to know, good to know. But yeah, I think I would like to see some of the other
• 15:21
  tips or things that I learnt. We'll put the link to that in the show notes, the podcast.
• 15:25
  And you genuinely looked happier and you can tell. So yeah, proud of yourself. Thanks.
• 15:32
  Cute moment. Cute moment. So speaking of the money reset, we actually have the next
• 15:37
  intake starting on the 1st of August. So in a couple of days. And so there's a few more days to get
• 15:42
  your seat in the curve classroom for this course. It always sells out. So please don't leave it to
• 15:49
  the last minute. And also this intake, we're very, very proud. It's actually sponsored by Tempo,
• 15:55
  which is an investing app for New Zealand students that has removed all the guesswork when it comes
• 16:01
  to investing and tried to make it much more simple and easy for all of us. So we thank them for
• 16:06
  sponsoring the money reset. Thanks Tempo. Now onto the juicy stuff. So yes, the reason we
• 16:13
  dressed up like Parisians French people is because the Olympic started this weekend, which is very
• 16:20
  exciting. Did you watch your opening ceremony? I know you were on a plane. I actually watched
• 16:26
  some of it when I got home. It was so long. I saw that like man dressed all in blue and like
• 16:32
  in an orange bed. I was like, what's happening? I'm sorry. This might be controversial,
• 16:39
  but whoever watched the opening ceremony, I mean, my friend was sitting there going,
• 16:43
  what are we watching? You know, it was honestly. And then she made a cup of tea came back and
• 16:49
  sat down and she saw this guy in blue with fruit all around him singing. She was like, what is this?
• 16:56
  It was honestly such a mismishmash. I don't know. Yeah. There's probably deep meaning to it all,
• 17:00
  which I didn't quite get, but the silver horse riding through the water, that was pretty amazing.
• 17:06
  Lady Gaga as well. I was googling, is Lady Gaga French? I was like, no, she's not anyway.
• 17:11
  So apparently they know about it eight years in advance. So that's been planned for like eight years.
• 17:16
  Oh, totally. You have to build stadiums. You have to build like arenas, roads. Yeah, you get told
• 17:23
  very, very well in advance. But just the idea is like a sort of showcasing like
• 17:30
  Parisian fashion and art and music and the story of their culture. And it's like a stage challenge
• 17:38
  for anyone that's from New Zealand. It's like a stage challenge, times a million. Yeah. Yeah.
• 17:43
  No, it was quite, it was quite amazing. And on the river and everything, it was quite amazing. But
• 17:48
  the price tag to host the Olympic Games has increased so much over the years. And what city's
• 17:56
  spend, like there's so much they have to put into like transport infrastructure, all of that.
• 18:02
  And there has never been an Olympic Games that's made a profit. So it is literally,
• 18:08
  I guess a bit of a show and tell for the city. And admittedly, France and Paris did look
• 18:13
  absolutely beautiful last night. But the whole point of getting that much tourism would be to get
• 18:19
  an influx economically. Yeah. So there is 10 to 15 million visitors estimated to come to visit
• 18:26
  the Olympics in France this year. Like that influx alone is insane. But from a like business
• 18:33
  standpoint, there's less people watching the Olympic Games now, despite increased coverage across
• 18:39
  the world. That's mainly down to like streaming providers and stuff. And just a bit of a lack of
• 18:44
  interest. You know, there's so many other sports now that are dedicated to specific sports,
• 18:49
  like rugby and soccer. And sponsors are willing to pay so much for this exposure. But they get
• 18:58
  smaller levels of exposure now. So I'm going to run through some numbers. So do you mean when
• 19:02
  you say smaller levels of exposure, is that all down to the idea that less people watch it
• 19:06
  even before? Yeah. Yeah. Yeah. Even though there's more sports, there's more events. You know,
• 19:11
  there's there's more people attending in person. But the coverage is a lot less. So if we looked at this,
• 19:17
  so the last time that Paris held the Olympics was in 1924. And so that was exactly a hundred years
• 19:23
  ago. Oh, that's really cool. Yeah. And there was 126 events across 17 sports this year, 329 events
• 19:35
  across 32 different sports. So a huge, huge, huge increase. And yes, you're right. The economic
• 19:42
  benefit to France is expected to be about $11 billion. So there is a huge, huge, huge economic
• 19:49
  benefit. 300,000 people attended the opening ceremony in the weekend. The ticket price for that was
• 19:55
  about 3,000 euros. So huge, huge, huge numbers. There's 190 nations that compete. So the one thing I
• 20:04
  noticed watching the opening ceremony was kind of how I don't know the word like collegial,
• 20:11
  collegial. You know, it was like everyone's coming together. All these nations in one place.
• 20:17
  It was a real moment of world peace sounds a bit cliche, but like of everyone coming together for
• 20:24
  sports. You know, sport just brings people together in such an interesting way.
• 20:30
  It's true, actually, and often I like really, this is maybe a little bit questionable to say,
• 20:37
  but I sometimes find when people are obsessed with sport, I'm a little bit like, really?
• 20:42
  I know. Yeah. But you're right, seeing the whole world and also people train their whole lives
• 20:49
  to get there. For me, it felt like there was what was like this slight feeling of hunger
• 20:55
  games in a game. Yes. Yeah. But then also a reminder of actually how small the world is. In a
• 21:01
  way, they like the idea that we can all come together and have common interests and support.
• 21:07
  And be a white city and sport. It's like there's no language. You don't need a language to
• 21:13
  understand that anyone anywhere in the world can watch and see it and take part. Even if you
• 21:18
  can't communicate in words, and I think there's something kind of beautiful about that. Yeah.
• 21:23
  And so with the games now being bigger and you've got more, you've got more athletes,
• 21:28
  you've got more events like that leads to bigger venues, bigger construction costs, more
• 21:34
  accommodation for all the athletes. And like there's all these massive stadiums that get built
• 21:39
  in these cities for the Olympics. And then they kind of sit idle for, you know, for years and
• 21:44
  years after that, like Tokyo, the poor city building all these incredible stadiums and then COVID
• 21:50
  hurts. And then yeah. And then they delayed it a year. There would be certain elements of
• 21:58
  insurance. But also the economic benefit for the city is that everyone comes and they spend
• 22:02
  money and retailers and restaurants and, you know, accommodation and stuff. So I kind of felt
• 22:08
  for Tokyo about then. But one thing I wanted to mention was like, so they did the opening ceremony
• 22:14
  in the scene, the river, the river scene in the middle of Paris. They spent 1.5 billion dollars
• 22:20
  alone on cleaning up that river to stop sewage and everything coming to that river to make it,
• 22:26
  you know, swimmable and all of that. It's just on the river alone, 1.5 billion dollars. And it still
• 22:31
  looks a bit, but, but, but, but, but also that's kind of amazing that that river got the TLC
• 22:39
  that it's obviously needed from a cleanup perspective totally. Don't you think it also then
• 22:44
  makes you think about stuff like, you can find the money to do things. You can find the money.
• 22:48
  When you hear 1.5 billion dollars being spent on a river being claimed for the Olympics, it's like
• 22:55
  hold on a second. We could find the money to do all the things the world needs.
• 23:00
  Definitely. We all banded together, you know. It's just so interesting what,
• 23:05
  what like people open their wallets for. But can I just ask you before I know you're about to
• 23:11
  share some other very interesting stats. But just quickly, like you said, there's been no countries
• 23:17
  that have financially benefited from having no the Olympics there. Sorry, no, there's no Olympic
• 23:23
  games that has generated a profit. So there's a company that runs the Olympic Games
• 23:28
  called the International Olympic Committee. I think it is. Yeah. And they they own the franchise
• 23:33
  and then like they have sponsors, they have you know, all of these incoming and outgoing and
• 23:40
  they've never made a profit. So a city, it's hard to tell because what the flow on benefit is
• 23:46
  economically, like estimate of 11 billion dollars in terms of people coming to the city. Yeah.
• 23:52
  Oh, sorry. So the cities do find it. Yeah. Sorry. I fully miss heard that.
• 23:57
  Sorry. Yeah. Okay. Yeah. So like if we look at some of the Olympic partner like sponsors,
• 24:03
  so Airbnb paid 500 million dollars to sponsor the next five Olympics, which I don't even know if
• 24:10
  they've got the money to pay for anymore. 500 million. 500 million. Visa paid 100 million just
• 24:16
  for this Olympics to be the exclusive sponsor. So there is some big like sponsorship deals going
• 24:23
  down for these brands. And the thing is a lot of these are US brands. So you've got Coca-Cola,
• 24:28
  you've got Proctor and Gamble, Airbnb, Visa. So they have spent all these key sponsors spent
• 24:34
  about two billion dollars on sponsorship. So it's a big like if you think of the television coverage,
• 24:40
  the millions of millions of people that tuned in to watch the opening ceremony. Like there's
• 24:43
  definitely, it's quite amazing, like you say, that people band together to achieve things.
• 24:49
  I can't believe I miss heard such a crucial part. Oh, that's right. But I'm going to do a wrap-up.
• 24:54
  Once we know like actual figures and stuff, there'll be figures coming out. I'll do an actual wrap-up
• 24:59
  at the end of the Olympics and we'll have a much better idea of kind of because these are all
• 25:03
  estimates because even just even like thinking this is maybe a weird analogy, but
• 25:09
  you know, Glacenbury, Charlie, CX, all the people that were there, I imagine will have a huge
• 25:15
  influx of like people listening to their music, people buying, that's quite a lot of like, you know,
• 25:20
  I mean like that song, Charlie, he wants the one that's like, I got the apple, that's something
• 25:25
  the core, you know, and it's like all of a sudden everywhere. And so like financially the flow
• 25:30
  on effects of the Olympics of just being in the city and people being there or foam over,
• 25:35
  all these people seeing them go to Paris and blah, blah. It's even like, even the TV coverage
• 25:42
  and seeing the city, that would spark interest in people being like, it might not be a trip straight
• 25:47
  away, but it might be like, oh yes, we have to take the three kids and my husband to Paris at some
• 25:53
  point, it's so beautiful, you know, so it's hard to know what the direct benefits are because they
• 25:59
  might fall on for years and years and years. And that is the whole point of the Olympics is to
• 26:02
  highlight the city. Yeah, definitely highlighted Paris for me. I was like, oh, it looks so pretty.
• 26:07
  Anyway, speaking of actually tourism in Europe, so there's been a huge backlash in tourists
• 26:15
  in Europe this summer. There's been protests in Palmer, telling tourists to stay away. There's
• 26:20
  been people being squirted with water in Barcelona in like squares. If I'd been squirted with water
• 26:26
  so bloody hot, I'd be like, again, again, again, again, in my mouth. Sorry, all over my body.
• 26:38
  On the same 34 degrees, I was like, just with Staten Linger and Gelato shops buying ice cream,
• 26:43
  your sister and under their fan, like it was so rough, so good. Well, European countries have
• 26:49
  hosted about 700 million visitors this year, 700 million. Like that is just like infamible.
• 26:57
  Anyway, there's been huge protests because it's led to sky high rents, it's led to people complaining
• 27:05
  of like public transport that's buckling medieval towns that are almost being disnified,
• 27:10
  disnified is what they call it, like, you know, Dubrovnik in Croatia is like, it's lost at
• 27:15
  specialty. Water supplies are being depleted and also a lot of anti-social behavior by Brits,
• 27:21
  mainly. So there's huge, huge protests and tourism brings 800 million euros into Europe's economy
• 27:32
  in this year alone. Like that is a lot of money. So for these people to stand up and protest,
• 27:36
  like I totally get where they're coming from, but I guess they want more of a more premium
• 27:42
  tourist or someone, you know, that doesn't have anti-social behavior, you know, that spends on
• 27:49
  luxury items, you know, just a bit more of a... The jude, or is it like this? There's two things.
• 27:53
  So it's like having a bit more of a luxurious tourist that comes in spends money and gives
• 27:59
  in the economic benefit without, you know, it's more quality over quantity, yeah, versus all
• 28:06
  these options of paying taxes, like a tourist tax to come visit certain parts, but it's a good idea.
• 28:12
  Yeah, but it's Spain that's really kicking up the most of the fuss. And this is the second most
• 28:16
  visited country in Europe. So they had 85 France, just appropriate. So they had 85 million foreign
• 28:27
  visitors last year, like for a country that's insane, but yeah, there's a fine balance between
• 28:34
  pissing off tourists and no one comes to having tourism that helps fuel the economy.
• 28:41
  And they're all blaming also Airbnb. There's been a big boycott against Airbnb. And yeah,
• 28:48
  there's the government in Barcelona is saying that it's going to close down, you know,
• 28:53
  the things like 10,000 Airbnb style apartments. So there is things going on, but...
• 29:00
  Quite conflicting about the Airbnb thing, because we stayed in a hotel for half of it and then
• 29:05
  an Airbnb for a second. And on one hand, I saw this beautiful Italian family. I met the woman
• 29:15
  whose house it is. I was like, it's really beautiful that she is, you know, renting a house out
• 29:20
  to us. And so I was thinking this must be like quite good money for it. You know, be able to do
• 29:26
  five nights and, you know, it wasn't super cheap, it wasn't super expensive, but like
• 29:30
  co-opportunity. If I could do that with my flat, I would, you know, I just earned some extra money.
• 29:35
  But yeah, I don't know how to explain it. I was like, I was thinking about this. When Airbnb first
• 29:41
  was a thing, it was so great, because it was definitely cheaper than hotels. Now it's definitely not.
• 29:48
  And by the time we were leaving, the amount of instructions on like the garbage and the
• 29:53
  verse and the that, I was kind of like, isn't the whole point of Airbnb that you use? I don't know.
• 29:58
  It was just, it was, it sounds really pretentious. It was more just like, I think the experience has
• 30:02
  changed both for the traveler and the person hosting and maybe what it sounds like also for the
• 30:08
  countries where it's being used a lot, because it's like, there probably aren't even any locals in
• 30:13
  the places. Exactly. Because they're all left when the house is out, which is the whole reason
• 30:16
  people go to experience the culture. And I don't know, I'm like conflicted. I think there's a balance
• 30:22
  between bringing in money for the economy, but pissing off the locals or not even having a
• 30:28
  local experience because there's only tourists around. Yeah. But I also think Airbnb isn't to blame
• 30:34
  as much maybe as people think, because it's a platform that has allowed all these
• 30:38
  smaller mum and dad apartment or homeowners to rent their property on a global scale and get
• 30:44
  a global audience. We're staying in a hotel, which is sometimes probably just a big corporate,
• 30:49
  that then pockets the money in profits and might go back to America or outside of Europe.
• 30:55
  So it doesn't really stay in the country or in the economy. So I think there's pluses and minus
• 30:58
  of both. I think there's definitely a way around it so that you don't get this unruly behavior.
• 31:05
  You don't get public transport that can't handle it. You don't get housing that's become
• 31:10
  unaffordable for locals and all of that. But it's interesting that the summer in particular,
• 31:17
  with $800 billion being born into the economy, and if we look back pre-COVID, that was about 500
• 31:24
  billion. So it's nearly 40% increase to pre-COVID levels. So we're well back to normal and above,
• 31:32
  so I can totally see when you've got a 40% increase, it's just like I can see why locals are
• 31:40
  complaining. Well, even being near Posatana and their wealthy host was like being at a festival.
• 31:47
  Like, I wanted to see Posatano because I was like, Posatano. Yeah. And I spent two hours
• 31:53
  just wandering around and I was so overwhelmed with the amount of people. It was ridiculous.
• 32:00
  And the same with their mouthy, we scooted through it, didn't even stop because that's just like,
• 32:05
  it was like, it's like a lot of anger. It's like beautiful, but you go there and it's just like
• 32:11
  seas of people. It's like I remember going to Christ the Redeemer in Brazil. And I was like,
• 32:16
  oh my gosh, I've always wanted to go see this. And I climbed up the hill, got to the top, the views
• 32:21
  are amazing. And I couldn't even get a photo of the Christ the Redeemer because there was so many
• 32:25
  people. And I was like, wow, it's so that like Instagram versus reality, you know, it's like
• 32:30
  other locals complaining about the fact that there's so many people and it's basically ruining their
• 32:35
  land and their transport and their ability to live there. Or is it that? I'm just trying to think,
• 32:40
  would it be like spreading out the amount of flights that go to a country or the amount of
• 32:46
  Airbnb's in each location that are allowed to? Do you know what I mean? Is there a way of restricting?
• 32:52
  If you restrict supply, then that leads to price increases and therefore that probably weeds out
• 32:59
  a lot of people because they can't afford. You know, if you've only got 10 houses to choose from
• 33:03
  in a mouthy coast, for example, versus 10,000, it's all about supply and demand. And so, yeah,
• 33:10
  I think it's like, then people will be like, actually, I'll go somewhere else. I won't go to
• 33:13
  the mouthy with everyone else. I might go to Poulier. I might visit somewhere else, you know,
• 33:18
  and kind of spreading that tourism around. I also think this is probably a bit of an anomaly
• 33:22
  in that there is a lot of backlog of the three years of COVID that people have saved up for holidays
• 33:29
  or weren't able to travel overseas. And so now, spending, that's why we've seen that 40%
• 33:34
  increase on pre-COVID levels, which is crazy. That's fascinating though. And I'd love to hear
• 33:41
  maybe we don't have time now, but it would be really interesting to do another episode on this,
• 33:45
  because I'd love to hear your thoughts more on like a macroeconomic standpoint with like
• 33:51
  different levers or things that could be done that would benefit both the locals and the economy
• 33:56
  and the world, you know, because you don't want locals not being able to get on their buses
• 34:01
  because they're overcrowded with Americans or annoying New Zealanders. Or it's like,
• 34:07
  it's like things like the Olympics, like have events where you've got the increased transport,
• 34:13
  you've got the increased security, you've got the increased staff to manage that influx.
• 34:20
  And then people leave. I think it's like it's like not being prepared or not having the right
• 34:26
  support systems in place to manage that many people. Do you know what I mean? I think there's
• 34:31
  an element of that as well. And like Barcelona's holding the Americas Cup in October. And there's
• 34:37
  these articles that they're really excited about that because it's something that they can prepare for.
• 34:42
  They've got, you know, it is a bit more of a premium tourist in that respect. So,
• 34:49
  I don't know, there's elements around it. But yeah, I'll go do my research and get back to you
• 34:53
  on this one. Yeah, it's so interesting. And I also feel like I hope that I wasn't ruining
• 34:58
  the summer for heaps of Italian locals, you know, like that sucks. I know, it's a question.
• 35:03
  I mean, I do think actually, by for me, one of the things that we did was chose
• 35:09
  less busy places. So we could hear Italians all around us. It was like, we didn't go to the
• 35:16
  super touristy spot. And maybe that's just like something that we could all think about when
• 35:20
  traveling. It's like pick the places that aren't super overrun or classically spoken about because
• 35:28
  you'll have a better experience, be it's not affecting like local life, but then also you're
• 35:33
  still spending in all government economy. I don't know. Of peak seasons, going may or of
• 35:38
  October or yeah. And that's another thing that will happen is because the prices will get so
• 35:43
  expensive in July and August. And then people will start going in May and October. And so do we,
• 35:48
  you know, even things out that way. But it's all about supply and demand. At the end of the day,
• 35:53
  everything is all economics. We've also had earnings season. So this is where companies report
• 36:00
  their financial results. So the three months to the end of June. And then now this month,
• 36:06
  they start reporting their financial results. And the stock market, the US stock market had its
• 36:10
  worst week last week in nearly two years. So it was down about three percent. And that's all
• 36:16
  off the back. Oh my god. Is this the politics? No, this is all off Tesla. Tesla in particular,
• 36:21
  really bad results. Profits were down 40%. This is the fourth time it is missed
• 36:28
  expectations. What the market was expecting to deliver. This is the fourth time it's missed
• 36:32
  those expectations. So people are getting pretty pissed off. Yes, she has were down about 14%.
• 36:38
  Last week. But again, this is like a three month view. People have to like,
• 36:43
  this really annoys me when you're investing for the long term. And then they release,
• 36:48
  you know, short term three month results, financial results, and people get all up in arms. It's
• 36:52
  like, oh my gosh, bigger picture. Do you think Tesla will have more market share of electric
• 36:58
  vehicles and continue to grow and dominate that space? If yes. Is there anything it makes me think,
• 37:04
  what a stunning purchasing opportunity. Exactly. So if you're in Tesla ever down 14%,
• 37:12
  like hello, Tesla on sale. And when Tesla does have big dips like this, it is usually,
• 37:19
  and I'm not saying this always happens, but followed by a bit of a big rebound. So yeah,
• 37:23
  not saying it's going to happen. But anyway, Spotify as well had a really good result.
• 37:27
  It's most profitable quarter ever. And that's all because we're now paying more in premium
• 37:32
  Spotify fees, which is great. So that's going to find with that though because I love Spotify.
• 37:37
  And I think it's a great service and they do. So I'm sort of not I'm not annoyed about it.
• 37:41
  Yeah, no, it's it's definitely something you just kind of suck up. It obviously hasn't turned
• 37:46
  people away. There's now three nearly 300 million people paying the premium subscription
• 37:52
  price of Spotify and 400 million free users. So they've got a sweet few people listening to music.
• 38:00
  Alphabet, which is Google, they had a really good result mainly due to their searching,
• 38:05
  their cloud. It's up 20% this year, which is which is great. And they made 85 billion
• 38:12
  in revenue in three months, 85. Oh my god. I can't honestly, there's numbers just like make
• 38:18
  my mind boggle. Some other headlines that you might be interested in. So if you're all right is
• 38:24
  that the pound. So we had a change of prime minister here in the UK. We spoke about it a few
• 38:29
  podcasts ago. Well, people seem to be loving it because the pound has been the best performing
• 38:37
  currency of a major market this year. So and it's all around people are like hoping that
• 38:44
  finally because we've had a change in leadership like the party. So it's gone from conservative
• 38:49
  to labor that this might be their like political stability that the country needs. So yeah,
• 38:54
  best performing currency this year. It's amazing. It's the strongest level. It's been so the highest
• 39:01
  has been since 2016 when Brexit was announced, which is quite really. Do you know what's great
• 39:07
  about that for us? Yes, here we go. I think you're about to take the words on our mouth. Hello.
• 39:11
  You do it. So February last year, if you had a hundred pounds and you transferred that back
• 39:17
  into New Zealand dollars, you would have had a hundred and ninety New Zealand dollars. Now if you
• 39:22
  do it, you have two hundred and twenty dollars Kiwi. And extra thirty bucks. Yeah, which is great.
• 39:29
  So does that mean we should be sending money back? Should we like maybe if we're earning pounds?
• 39:34
  If you got to be a cash or say you'd move back to New Zealand and you still had pounds in the UK
• 39:41
  and you've been like, we need a good time. I'm not saying it is a better time than it was last year.
• 39:46
  It could get even better. It's like the stock market. You don't really know what's going to happen,
• 39:51
  but it's all kind of relative. And if you're sitting there going, hey, actually,
• 39:55
  if I transfer money back now to New Zealand or a lot of other currencies to be honest because
• 40:00
  the pound's been so strong, then you might get a bit of a bit of a windfall, a little windfall,
• 40:06
  an extra thirty bucks. We're going to go back for summer in New Zealand. It's amazing.
• 40:11
  Quite helpful. Thank you. Yeah. Yeah. Nice. I love this episode. We dress up every week.
• 40:18
  I agree. Let's do it. I feel so much more fun and fruity and just a bit like
• 40:25
  I put you going to say flirty. You do with your real lips. Well, I kind of do feel flirty. Do you think
• 40:29
  I look like quite sh** in person? Yeah, you do. Yeah, maybe we should dress up every episode.
• 40:34
  Maybe you'll do a bit of a bridge at Jones and just tell you to dress up and then
• 40:37
  me not dress up. That's funny. That's actually really funny. Great content. I this morning when
• 40:44
  my flatmate threw the beret into my room because I messaged her, I'm like, oh, it's got
• 40:49
  out. I was going to think French. I can wear the excitement I got getting my little dress up
• 40:55
  and like my hat made me think it's my birthday and I'm going to do a famed birthday.
• 41:01
  Do I? I'm going to make you for a dress up. Oh my god. Fun. Okay. Well, I loved it,
• 41:08
  thanks for a really good curfew. No worries. I feel like I learned heaps. Yeah, that's great.
• 41:15
  And if anyone wants to join for the money reset, you've got literally like a day or two. So
• 41:20
  come join us. Come and save money for your next holiday. Do you know what? It's not even just save.
• 41:26
  It's more like learn how to just plan and use your money meta. That's true. That's what it's
• 41:31
  been for me. It's not just like a saving hack. It's like redistributing off my funds in a much
• 41:36
  more people way. And we've had a lot of questions of people being like, I don't even have any money
• 41:40
  leftover at the end of my paycheck. Like I'm a negative and I'm eating my savings or whatever.
• 41:45
  I don't even have savings. And honestly, I just want to go and like grab them and hug them and
• 41:51
  bring them into the classroom because I'm like, oh my goodness. There are so many lessons on
• 41:56
  it's not just about cutting back. Like we earn and spend. It's about earning more
• 42:03
  and spending less. Like there's two sides of that equation. And so we go through like everything.
• 42:07
  And this is what it frustrates me so much about a lot of courses or budgets or everything
• 42:12
  out there. It's like cut back, cut back, cut back. It's like there's also the other side to that
• 42:17
  equations. I was in a position where I had exactly the same. I was so in the negative. It was bad.
• 42:23
  It was really bad. And I think that it's almost like what's kind of ironic is it's almost
• 42:29
  those are the people that really need to know these things more so than when you have more money.
• 42:34
  I mean, I think it's great to learn when you're feeling stretched because it means that when
• 42:38
  you do eventually earn more, you've got such a clever way of making your money go further and
• 42:44
  you know. It's like that saying you said ages ago, I don't think ever really hit home until recently.
• 42:50
  Like if you don't know how to manage $100, you won't know how to manage $100 million.
• 42:54
  It's very true. Anyway, hope to see you on the 1st of August in the money.
• 42:59
  Yes, yes, yes. Okay, bye everyone. Have a good week. Bye.
• 43:03
  Thank you so much for listening to The Curve Weekly. Make sure you hit the subscribe button
• 43:07
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• 43:12
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• 43:21
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• 43:26
  and see you next Monday. Bye. Bye. See you next Tuesday. Wow.
• 43:34
  See you next Tuesday. I mean, Monday.
• 43:42
  You