Latest / The Curve / TCW68: Duolingo's soaring, Roaring Kitty's back and Soph's become a (polite) Karen.

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TCW68: Duolingo's soaring, Roaring Kitty's back and Soph's become a (polite) Karen. · 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
  This is the first time we've released. Yeah, yeah, yeah. We will be the other day,
• 0:22
  oh we did a picture the night and I was like still getting the slides up and so I was like
• 0:27
  we and I was like oh my gosh, oh my gosh, okay, we're starting, we're starting,
• 0:30
  straight off the ranks, like no, try it, I was like, I was like, oh gosh, thank goodness,
• 0:35
  who's there? The secure one we did that bit, and you were like, hi everyone, we are at
• 0:40
  and I was like, oh my gosh, I thought they would be a bit of like, hi, I don't know yet, so it's
• 0:44
  good. It was like, on to it. I was like, she is, if she is, we're raising capital at the moment
• 0:50
  and so we've been pitching to hallowed investors and that's what Vex referring to, but sorry,
• 0:54
  this has been released for the first time ever on a Tuesday. I was surprised how many people
• 0:59
  wanted to Tuesday. I thought we'd be like, oh, looks like we need to to Tuesday, just make up the
• 1:05
  results. Yeah, yeah. Because we want to do another Tuesday. So, for gone text, the reason we wanted
• 1:09
  to move the curve weekly to be released on a Tuesday is that we recorded the moment on Friday.
• 1:15
  So then our darling editor, Emily, has like quite a quick turnaround, she has to kind of get it done
• 1:21
  last week, we were like, well, it's funny, we're always like, should we get a Friday night drink?
• 1:25
  Yeah, let's go over four and in her brain, she must be going like, oh gosh, I'm totally
• 1:29
  ready to do that. But anyway, she last week was editing until like six p.m., in fact,
• 1:35
  message would be being like, she's still here editing and she's got a barbecue at her house.
• 1:39
  Oh no. Oh no. And she would never say anything, she's always like, it's fine, it's fine.
• 1:44
  Anyway, so we're moving the record date. It's now coming out on a Tuesday and also,
• 1:50
  there's heaps of news that comes out over the weekend anyway. And also, we can talk about our
• 1:54
  weekends on a Monday. So I feel like it's, I feel like it makes more sense. Yes, and quite a nice
• 1:59
  way to start the week. Do you know what happened to be this morning, just as a total aside?
• 2:03
  I live in a part, I've just moved into a new place and I live in this apartment building situation.
• 2:08
  Last night, how many bedrooms? Three is four, four, but the six of us, the landlord thinks there's
• 2:14
  four people there. I really hope that they're not all as nice along. But anyway, so last night,
• 2:21
  my, my, I supposed to say friends housemates, how do you even say it? They are my friends, but they're
• 2:24
  also my flatmates anyway. They had drinks and I went to bed. The battery was dead. I was like, I just
• 2:29
  need to not be around people. And I thought they had this mess of rager. So I started teasing the
• 2:34
  group. What's that? Because they, I kept waking up to like Alexa, play, blah, blah. And I was like,
• 2:40
  oh my god, shut up. And I messaged the group chat, being like, guys, can you please just be a
• 2:44
  little bit quieter, but hold on. It wasn't even then. It was like the neighbours were having a rager.
• 2:52
  And I realized halfway through the night, because I opened the door to go downstairs and I said,
• 2:56
  oh my god, it's still part of you. It's like it's not even. I'm going down in my pajamas.
• 3:01
  So I opened the bathroom window and yelled out of it to the neighbours going,
• 3:07
  hi, excuse me, could you please keep it down? And I was like, I can't believe I'm that busy.
• 3:12
  And then this morning, you saw them. No, I went and rang their doorbell.
• 3:19
  Oh my god, you're snow. Why would you do that? Because I just thought, are you getting calmer?
• 3:25
  Like, well, I'm up early and you know, so I'm going to know I wasn't trying to get revenge.
• 3:30
  They didn't answer the first time and I thought, fuck it, I'm going to ring it again,
• 3:33
  so I'm going to get it. And then this guy came to the front door and I was like, hi, I was really
• 3:37
  nice. I promised I wasn't like nasty Karen, but I was still Karen. You're going to get like
• 3:41
  rubbish thrown across the fence. You're going to start your flatmates. We're like, thanks.
• 3:45
  So we had such good relationship with them. And now they're like, no, they're Kiwis. They're like
• 3:50
  24 year old boys. And apparently like the chat that's been heard from our backyard, from their
• 3:55
  backyard was like, has been pretty like holy shit boys. We don't have good chat when we were 24.
• 4:02
  No, like as in people purring in the shower kind of situation, like,
• 4:07
  so you know, the point is, I knocked and I was like, no, I didn't. I rang the doorbell and I was like,
• 4:12
  hi, I'm so fed. More time we talking 8am. So for someone, they finished it about 4.30.
• 4:18
  Yeah. 8am even like normal going to be a time in London is is early. Yeah, you know. So 8am,
• 4:25
  when you've been up since up to four, yeah, it was shit for me. And it's going to the door
• 4:30
  and I was like, was he high? No, he also looked like he had cupping. He'd had cupping, you know,
• 4:35
  that like, oh, I was like, you should get on your back. But yeah, I was sort of like for
• 4:40
  partyers until four in the morning, kind of a juxtaposition, you know, to be heading cupping.
• 4:44
  And there's like during the week I look after my body and the weekend, I don't. But I was just like,
• 4:49
  look, I live next door. I was like, when you're partying past Levin, can you shut the door
• 4:54
  to the garden? And he was like, I'm so sorry, it actually wasn't me, but like definitely, I'll say
• 4:58
  thanks. And I left and I thought, you know what? That yeah, like it's definitely giving mid-30s
• 5:05
  energy, like for sure. Yeah. But I was a polite Karen. And I felt I thought it was pretty crack
• 5:10
  up to be honest. I was like, I imagine. I'm impressed with his response. Same. He was really
• 5:15
  lovely about it. It's time so sorry. Like I know it was really loud. We'll definitely shut the door
• 5:19
  next time. I was like, that went well actually. I wonder if you know when you have a few drinks
• 5:24
  and you're like, oh yeah, you don't realize how loud you are. And so I feel like he might be like,
• 5:28
  yeah, yeah, no worries. The next time I promise and then he's screaming next time it's like, oh gosh.
• 5:33
  Yeah. What about what happened with you with the charger? No, that was. What happened with the
• 5:38
  charger? Oh my God. It's been a real week for me. Yeah. I'm kind of in his camp. I know fear.
• 5:45
  I think that's fear. Basically I was having. So this is a classic ADHD something, by the way,
• 5:50
  to leave charging my devices until literally I'm on one percent. And like, bless your heart.
• 5:55
  I try. I don't know how many times I've said just buy a charger. Keep it at work. Keep it in your
• 6:01
  back. I've done that. I've also bought battery packs and put them in all my carry bags. It's funny
• 6:05
  because you come up to me and you're like, can I borrow your charger and I want to be like, fuck. No,
• 6:09
  I'm like, I'm only like, I'm only like 99 percent charged. Yeah.
• 6:15
  You said I was on amazing. And my computer was literally on 2 percent and I was like, fuck,
• 6:21
  I don't have my charger here. And there was a laptop sitting next to me charging.
• 6:26
  With their charger? With their charger. No one was there. And they hadn't been there for like 20
• 6:29
  minutes and I just pulled it out and put it in mine. I really don't, I mean, I get that that's
• 6:34
  boundaries, but I don't think it's that bad. Anyway, he came back, said at the desk and I was like,
• 6:38
  hi, and I was like, sorry, I'm here. And he was like, yeah, yeah. And I was like, I actually
• 6:43
  also just grabbed your charger. Sorry, is there any goes? That's my personal charger. And I was like,
• 6:51
  I'm like, yeah, yeah, I know. I just borrow it. I'm so sorry. I just borrowed it. And he was like,
• 6:55
  no, that's not okay. My was charging my computer with my, and I was like, oh,
• 7:00
  did you think he was saying the truth? No, no, no. And then I was like, okay, I'm just going to move
• 7:06
  so I like got up and left. Yeah. Or could have just sit there. I was like, also, sorry.
• 7:11
  Yeah. It's 9.30 in the morning on a Thursday. Like you don't have to be such a prick. No, I know.
• 7:16
  I think I know I cross boundaries, but also like you could probably just be a little bit more,
• 7:21
  be like, oh, I actually really needed to charge that for a meeting about to go to or like explain
• 7:24
  something for him. Like, yeah, be like, oh, that's okay, but I need it back now. Yeah. You can still
• 7:28
  be rude, but kind of polite. He was just like, I always find people that are rude or like people
• 7:33
  that have the most intense road rage or you know, get really hung up on little things.
• 7:39
  I always feel like there's something else going on. And you would just unfortunately,
• 7:42
  the tip of the iceberg, because there's no way someone can get that. Like you're pretty
• 7:48
  OCD with stuff. I feel like if someone had done that to you, you'd be like, but I also hate
• 7:52
  you. You'd be dying inside. It's totally my go away. And I'd be like,
• 7:55
  fuck, so if you'd leave a guesswork. Oh, by the way, did you, so no, I was going to say,
• 8:04
  watch the Barbie movie last night. Sorry, we are going to get on to find out the chat in a second.
• 8:08
  But did you, because this has been something she's been, I side note. It's just come on to neon.
• 8:14
  And neon is the sponsor of this podcast. You know, what do you think of it? I need a quick
• 8:19
  debrief. I, the first half was good. The second half, I just didn't, I didn't see the hype,
• 8:28
  but I think it's going into a movie where it's there's so much hype. You expect it to be
• 8:34
  incredible. And I think I was just a bit like, oh, I mean, it's great.
• 8:39
  I think when I know there's so many underlying meanings and stuff. And I know there is, but like
• 8:46
  in the movie, you just wanted to watch it and tune out. Well, yeah, I just kind of,
• 8:50
  I felt like I was looking for all these meanings. And it's like, it's a Barbie movie.
• 8:54
  Just watch the Barbie movie, you know, but yeah, I know what you mean. Yeah.
• 8:57
  I mean, I remember when people were like 50 Shades of Christ, so bad, it's so, so, so bad.
• 9:01
  So I went into it, expecting it to be horrendous. I was like, it's quite good, actually.
• 9:05
  Yeah, yeah, yeah. It's like a book. Someone's like, oh, you have to read this.
• 9:08
  Everyone's reading it's so good. And you read it. And like, man, yeah.
• 9:10
  But can we just say a quick, um, thank you to Neon, because although Vic might not be the
• 9:15
  biggest fan of the Barbie movie, there's heaps of other really great TV shows and movies on
• 9:20
  there. And I honestly, this is weirdly a partnership. I'm very excited about it. Maybe
• 9:25
  should have done that last night. What, you know, just woke up and watched the movie,
• 9:29
  listened to the music and then extorted and watched the movie.
• 9:31
  I listened to AC Marinette. Oh, yeah, nice. I found this like mermaid spa. It was quite random.
• 9:37
  Yeah, I know that people think that's weird, and it is weird, but I tell you what, it works
• 9:41
  every time. Yeah. Anyway, sorry. I feel like we've been absolutely,
• 9:46
  around one. I think we'll have to put in the notes, sorry, skip to 10 minutes for finance,
• 9:51
  chat. Yeah. Just copy pace, copy pace, you've read the song.
• 9:58
  So, uh, so there's been a bit of action lately in the meme stocks again.
• 10:04
  Oh, so why don't you tell me? Yeah, we did the start. So have I missed it already?
• 10:10
  Yeah. Yeah. Can you please text me next time? Like, I've, or I've missed it once it's been
• 10:15
  used. So it's, so where do we find out in advance? Um, that's illegal. No, but where do I see it?
• 10:22
  How do other people know that? Is it on Reddit? Yeah, on Reddit. So don't read it all day,
• 10:27
  every day. No, there must be a way you can never find yourself. Yeah. So explain meme stocks.
• 10:32
  Yes. So a meme stock. So it actually started back in 2021. And it was companies that had done
• 10:39
  really badly. So game stock was probably the most popular one. Some people might have heard of
• 10:43
  AMC, which is an entertainment company and then bedbath and beyond for kind of the three big ones
• 10:47
  in 2021. And it's, it's all these people on Reddit. So retail investors like you and me,
• 10:53
  banding together on Reddit going, we're going to buy these really shit stocks stocks that haven't
• 10:58
  done well because it's their, their own, sorry, because they're shorted by big hedge funds.
• 11:06
  So huge funds like a managed fund, but they can go short. So that means that they profit
• 11:12
  when the share price falls. So if you own, can we pause because when I first heard this,
• 11:17
  it was the most confusing concept ever. So the way I think about it is they're kind of taking,
• 11:23
  I know you hate the word bed when I come to this thing, that they're almost taking a bit.
• 11:27
  That that, like, that the stock is going to continue to do worse and worse and worse, which means
• 11:33
  that they're getting money from it. Because when you short a stock, it's almost like you're buying
• 11:37
  them from someone to you're borrowing them. So if that stock was to go up, you would be royally
• 11:42
  effed over. And you, you almost own a negative amount of share. So it's like when you buy a stock,
• 11:47
  you're, if you buy a stock that you're hoping it goes up, you're long a stock. That's like the
• 11:51
  technical term, right? But huge funds, they kind of like try and find all these companies that
• 11:56
  they think are going to do. Thanks. I've learned a lot on my time. They buy these companies that
• 12:03
  they think are going to do continue to do worse. So say they were like, oh my god, there's the
• 12:07
  sofa company that's like doing really bad. I think it's just going to keep promising and promising.
• 12:12
  They kind of take a bet on the idea that it's going to keep doing badly. So they buy all of
• 12:17
  these stocks from people. So they borrow the stocks. And then they benefit if it continues to go down.
• 12:23
  But the whole point of mean stocks is that people find out what hedge funds have bought. And basically
• 12:30
  try and like fuck with them. Yeah. And it's kind of like a, like screw you to the establishment.
• 12:36
  Yeah. Fuck you. It's like you big sitting, sitting in your big glossy offices, like
• 12:40
  people find out what hedge funds are to disclose. Yeah. So every quarter, it's called a 13 F.
• 12:47
  Honestly, all the terminology in the US around like disclosing your, it's called a filing. So you file
• 12:52
  what you hold. Who wants to spend time going through hedge funds, filings, like hell.
• 12:58
  Well, and it's also available like on Bloomberg and stuff you can see if you own a certain
• 13:02
  large enough percentage, you can see it. So people can see it. So yeah. So in 2021,
• 13:08
  all these people on Reddit were like, Hey, let's screw with the hedge funds. And they bought
• 13:13
  the shit out of companies like GameStop. Their share prices went like I'm talking up like 100,
• 13:18
  200, 300, 400, 500 percent, like massively. And the thing when you're short a stock, sorry,
• 13:24
  the thing when you own a stock, if it goes to zero, you've lost 100%. You know, if you had invested
• 13:29
  a thousand and that share price goes from $10 to zero, you've lost $1,000. You can't lose anymore.
• 13:37
  You can only lose what you've invested. Whereas when you're short a stock, I'm like,
• 13:42
  on my brain, so sorry, can we give it an actual example then? So say you buy, so you buy shares in
• 13:48
  the sofa company at $10. And then they go to zero, they go to $10. You've lost $10. Yeah. And
• 13:53
  that's that's the most you can lose. That's the most you can lose. Yeah. So the amount you've
• 13:58
  invested is all that you can lose. Whereas if you're short, say that so for company $10 a share,
• 14:05
  you buy one share and you think it's going to go down, but it keeps going up and up and up.
• 14:10
  And it's now $100 a share. It's $200 a share. There's no limit in what you can lose because there's
• 14:16
  no limit in how much that share price can grow. So you can lose infinity, but all these hedge funds
• 14:21
  have like, they'll have, they'll have, they'll have like orders in there that are like, okay,
• 14:26
  if it reaches $12, sell, you know, I don't want to lose anymore. So they'd have alerts basically,
• 14:32
  as soon as something became a meme stock, they would see it happening. And they'd be like,
• 14:35
  oh, we're fucked. We might as well just selling now. Yeah. But sometimes, sometimes they don't
• 14:40
  because I guess they probably wouldn't know until it's too late that it's a meme stock opposed to
• 14:46
  something else. And you can also, you can, you can lose money and then you can gain
• 14:52
  of the game when it falls. So you're like, do I just hold on and hold on and hold on while that
• 14:57
  goes up and up and up in the expectation of life. Just reverse. Like if it falls, you're like,
• 15:02
  I'm losing money, I'm losing money, but I might win it back. Right. So the idea could be that if
• 15:07
  you're a hedge fund manager, and you're seeing someone like do a meme stock situation. So for company,
• 15:13
  they've bought a hundred of them for $10. And they can see it's going up and up and they're like,
• 15:18
  oh, God, oh, God, oh, God. But eventually people will lose interest. So if they hung in for long
• 15:23
  enough, it probably would go down again and their losses will get smaller. Yeah. It's like that
• 15:27
  point of like, also, I'm in so much shit. Like I've lost so much money. I may as well hang in there.
• 15:32
  I may as well hang in there, but I don't know if it's going to get worse or better. Okay. So it's
• 15:36
  like this whole, yeah. So anyway, the thing is that these meme stocks have come back this week.
• 15:43
  So I really want to take part, even just in $10, you know, like I'm not going to go and bet my
• 15:47
  life savings on it. But I just want to feel a part of the fun. Yeah. Yeah. So it's it's interesting.
• 15:53
  So the person on Reddit, who has kind of started all this, his name's roaring kitty. I don't know
• 15:59
  why. Oh, his, his, um, has like handled this war in kitty. So he, he runs like roaring kitty's back.
• 16:05
  Oh my gosh. It's like, it's, I don't know why he's called that anyway. I think it's genius. It's so
• 16:10
  funny. So this year, Brian, do you think is it definitely a guy? Could it be a girl? I don't know.
• 16:13
  Yeah, could be girls. Yeah. Yeah. Yeah. Yeah. Yeah. I mean,
• 16:19
  just come back with a vengeance. Yeah. So anyway, game stocks years were up 200 percent last week
• 16:23
  from 17 dollars to like, they're now over 65 dollars. 175 million shares changed hands. So like,
• 16:32
  if you put that in perspective, that's 30 times more than the one year average. So that's like
• 16:41
  huge, huge massive, massive, massive turnover. Can you just give me how much they lost? Like,
• 16:46
  what did the huge fund actually lose? About $1.4 billion. Billion. Yeah. Holy shit. That's
• 16:51
  enough to send someone bankrupt. Totally. And they did back in 2021, huge funds went bankrupt.
• 16:55
  If you don't have what we call like stop loss orders, like those orders were talking about those
• 16:59
  limits, you could be very, very screwed. Yeah. Holy. Yeah. So everyone's kind of confused. They're
• 17:04
  like, why again? Why is it coming back into favor again? What do you mean? Isn't it? Wouldn't we
• 17:09
  just be doing this? Yeah. Pretty funny. Yeah. But it's like, you think they'd pick new stocks. I
• 17:12
  don't know. But anyway, it's just like, oh, they're back. Shit. I reckon they're just trying to be
• 17:16
  really clever and random with when they do it and random with the kind of companies they are,
• 17:21
  so that no one can see it coming. Yeah. Yeah. So, but I think what it shows is that like,
• 17:26
  the regulator is so powerless to this. Yeah. Because it's not, it's market manipulation,
• 17:32
  which is illegal, but it's not any different to someone buying a share because they genuinely
• 17:38
  want to see it go out. Totally. And it's like, it's you're not, you're not telling someone
• 17:41
  you're to buy shares. Warren Kitty's just sitting there going, I'm buying this. Like, who wants
• 17:46
  to come on the journey with me, which is exactly kind of like, we could hold an event and be like,
• 17:52
  I'm buying this. You know, and if we had a big enough event, we could move markets.
• 17:56
  Yeah. And it's kind of, holy shit. Sorry, I just have unlocked a new goal for the curve. Imagine
• 18:02
  if we could boycott like Shell or like all the petriotations and be like, oh, cool. Yeah.
• 18:09
  But anyway, it's quite exciting. Can you please promise me as soon as you find out about it,
• 18:14
  you'll text me just as I want to see. Yeah. Yeah. I want to be involved in the action. I want
• 18:18
  to Google roaring Kitty and just like, just follow roaring Kitty on Reddit. Oh, that's a good idea.
• 18:22
  Yeah. But it's also quite good for Reddit. Yeah. Yeah. Yeah. Yeah. So a couple of months,
• 18:28
  or maybe not even that long ago, Reddit basically listed as a public company and people,
• 18:33
  so punters were able to invest, which normally doesn't happen with an IPO, right? It's normally
• 18:38
  like big corporate whereas it allows, what is the share price doing out of interest? It's gone up.
• 18:44
  Again, I had a good, good announcement the other week. Surely this would make it go up. Yeah,
• 18:48
  unless the regulators do come in and go, hang on. You need to know what are they going to do?
• 18:54
  I know. Yeah. It's roaring Kitty and Jail. Yeah. If they find out, if they're like,
• 19:00
  trying to trip down roaring Kitty by like his VPN or something and they turn up at a house and he's
• 19:05
  just moved again. Yeah. Yeah. Yeah. Reddit's done really well. It's up 12% last week. So it's doing,
• 19:12
  it's, it's well above its IPO price, like it's doing really, really well. What is it? Lister.
• 19:18
  And what's it at now? It listed at. Listered for anyone that's like, why does that?
• 19:23
  46 dollars and now it's 56. So it kind of went up down. It's like the first price you can buy it
• 19:28
  basically. Yeah. Cool. Yeah. So that's going on. But if I was a huge fund, I'd be, and I was short,
• 19:36
  any stock. Surely you'd just stop shorting. I'd be so scarce. Yeah. Am I going to be next?
• 19:41
  It also goes quite career ruining wouldn't it? Like in your portfolio, you lose 1.4 billion dollars.
• 19:47
  And like, I hate making allergies would be saying gambling, but like, it's kind of like, if you
• 19:54
  had bet on black at, I don't even know what the game is, Blackjack. I'm like, I just know they'd
• 19:59
  bet on black already. Yeah. And like, you'd lost money. And then you're like, oh, we'll just
• 20:03
  bet again. And then you lost money. You know, you keep going because you think you can win back.
• 20:07
  But it's like self sabotage. And I think, yeah. And I think it's probably a mindset. If you were like,
• 20:10
  oh my gosh, I've just lost, I mean, 1.4 billion was spread across huge funds. But if you'd lost that
• 20:16
  much, you would be like, I just need to bet bigger and better. You know, the psychology of money
• 20:23
  and investing is like, I think that's a really good example of how it's almost like admitting
• 20:28
  defeat is just so hard. So regardless of what it is, whether it's investing or just in life,
• 20:33
  the ego, I can just kicks in. Oh, totally. You know, I like to admit, like,
• 20:37
  I remember, I remember all the companies that I've worked at, the one thing was just like,
• 20:43
  if you make a mistake, let us know. Or there's no judgment. And there was no judgment from
• 20:50
  my peers when I made us make mistake and vice versa. Because as soon as you start being like,
• 20:54
  oh, you're shit, then it feeds into that psychology of like, oh, well, I don't want my next one to be
• 20:59
  shit. Or if it does start falling and I'm losing money, I'll hide it. You know, I let you just get
• 21:04
  all this psychology. It's like shame. And also it's all so much shame. Money is just so emotional,
• 21:10
  isn't it? My God. Yeah. And in other news, Joe Lingo, it's actually a public company now.
• 21:17
  Okay. So you forwarded me an email with them. And I didn't read it. That you were like,
• 21:21
  you call it. And I was like, it was so, I know, all you needed to read the first couple of lines.
• 21:26
  What were the first couple? Well, I'm good thing I've put it in the code weekly.
• 21:30
  So it IPOed for context at IPO. So first became public in 2021. Do you have a language for
• 21:36
  anyone that has not used it or heard of it? Is an app where you can learn? Is it just Spanish or
• 21:41
  is it any language? No, it's like so many languages. Yeah. It's like gamification and you get through
• 21:46
  different levels and you learn like, I love it. Like I used it a while ago before I went to South
• 21:52
  America. I used it to learn Spanish and I remember putting it through my car radio, my car radio,
• 22:00
  my car. And I was like, and it was like teaching me Spanish. And I was like, oh,
• 22:06
  la. And I was like, oh, la. I didn't get through many levels to be honest, but it was actually
• 22:14
  really good just to have it in your pocket if you're commuting or you know, so it's a really
• 22:18
  great run because it's an ambassador to do a linguist. But anyway, they announced that they had
• 22:25
  seen a 50 over 50% increase in users because of artificial intelligence. Yeah. So their first quarter
• 22:35
  of this year, they had 7.4 million subscribers. Yeah. And they have put that big jump of 50% growth
• 22:44
  down to investing in artificial intelligence. And it's all about them being able to create
• 22:50
  content faster. Oh, yeah. So like the amount that they would create now is so much greater because
• 22:57
  of that. They cut down the content development pipeline, they've just like, but what what
• 23:02
  usually I think took them like, I think they said like a few years and now taking like months,
• 23:06
  like stuff like that. Yeah. They've been taking five years and now taking the three months.
• 23:10
  So what they can produce and put out there, which means they're attracting more subscribers.
• 23:15
  Wow. I was like, yeah, I'm not surprised you said that to me. That's why I'm brand for us.
• 23:21
  And it's quite interesting because a lot of other online learning platforms are actually going
• 23:24
  backwards. So the fact that these guys, you can invest in doing a linguist. We can invest in
• 23:29
  doing a linguist. Yeah. Maybe a devil. Yeah. I was trying to think of what I'll use some
• 23:34
  pesos. Pesos. Pesos. Pesos. Pesos. Pesos. Pesos. Which is the mix in currency. Yeah.
• 23:40
  To buy some dualingo. Yes. But you know how we just spoke about how companies have to file
• 23:44
  what they invest in. Yeah. So Warren Buffett is just trying his filing. What's he? And everyone's
• 23:50
  like, oh, oh, honestly, can I alert myself of this? How do I find out? Yes. I'll get back to you
• 23:57
  on hell. Yeah. But like, how did you find out you saw on the news and news? Yeah. Anyway,
• 24:00
  what is he doing? He everyone's been speculating. He's been buying like a mystery stock. So,
• 24:05
  you know, the finance world's been like, what is he investing in? Cause Warren Buffett doesn't buy
• 24:09
  lots of different stocks. When he buys, he goes hard. Yeah. He goes hard. Yeah. He doesn't.
• 24:16
  He doesn't have fast. He doesn't have fast anything. And so he is, he has bought into an insurance
• 24:23
  company called Chub. Okay. And so he Chub, like C-H-U-B-B. Oh, yeah. I think I've seen that.
• 24:30
  Yeah. They're properly insurance and stuff. So he loves insurance companies because they
• 24:35
  sit on big pools of cash. So if I'm taking, if you're, if you're paying your insurance premium,
• 24:41
  you pay it to me. So I'm the insurance company. I sit on it. And then I might pay out every now and
• 24:46
  then if you have an accident or if you need it, whatever. So you're sitting on this big pool of cash.
• 24:52
  So he's like, they just great business models. As long as you can keep that, that gap of premiums
• 24:58
  and, and payouts, a buffer enough. So, you know, he's invested in a whole bunch of insurance
• 25:04
  companies. So it's kind of not surprising. Can you list some of them? I knew you'd ask me that.
• 25:08
  Well, then why didn't you come back here? I feel as though it's been boring. He likes to invest in
• 25:14
  boring companies because the boring ones are the ones that go under the radar. They tend to do
• 25:19
  people don't really care about them. You use them all the time. He likes boring companies.
• 25:23
  What I was going to say is, do you remember that massive eruption that was happening in Bali and
• 25:28
  people stopped ensuring people going to Bali? You just couldn't get assured if you're going on a
• 25:31
  trip there. And I think as global warming gets scarier, insurance companies are going to struggle
• 25:37
  to A, they probably won't ensure a lot of things with people or land, etc. Because of weather,
• 25:44
  there's all sorts of stuff that's going to come in. And I also think, in terms of their payouts,
• 25:48
  they're going to be enormous. So for me, in terms of thinking long, long term investing,
• 25:53
  I feel like insurance companies are going to be in some pretty scary situation.
• 25:57
  Yeah, I agree. But I think they'll just increase the premiums.
• 26:00
  Oh, true. Yeah. So instead of, I don't know what it's, my insurance on my house is like $2,000
• 26:05
  a year or something. It might be a case. Yes, we've got extreme weather events.
• 26:10
  There ends up being like $4,000 instead of $100,000. It could be, if I lived by the water,
• 26:14
  by on a beach, I could be paying upwards of like $100,000. And then that impacts the price
• 26:20
  that I would then be able to sell my house. Well, I don't know. It's like this whole cycle
• 26:23
  of, but I think insurance will, yes, adapt or we're like, hey, no, we won't ensure if you're near
• 26:29
  a beach or if you're by a river or something like that. So as he gone and invested in heaps of
• 26:35
  different. Yeah. Did you? He's had this for ages. He's a guy co is one of the biggest ones.
• 26:40
  That was one of the first investments. Yeah, he, oh, it's like a boring list. It's not like
• 26:45
  something cross. Yes. Partner's life. Thanks. On to our podcast.
• 26:52
  But yes, anyway, but I think invested in a New Zealand insurance company. Oh my god, imagine.
• 26:57
  Yeah. Cool. But anyway, what I'm, what I'm trying to explain from this is that he has invested
• 27:03
  in insurance companies. It's something he likes. He knows he understands. He's invested in for
• 27:06
  a long time. So he's investing, he's doubling down and investing in more things that he knows.
• 27:11
  Yeah. He's not venturing into AI. Even when he invested in Apple for the first time,
• 27:15
  everyone was like, whoa, you said you'd never invest in technology companies because you don't
• 27:18
  understand it. So that's kind of, he's like, no, but it's more a consumer product company. So,
• 27:24
  yeah, I mean, it's not surprising. He's been seeing another insurance company. And he has even said,
• 27:30
  he thinks that artificial intelligence has a place in the world in the future, but he's like,
• 27:34
  his time on Earth is probably not going to be investing in it because he doesn't. He's like,
• 27:38
  that's for the next generation of bitch. I really want to meet him.
• 27:45
  But anyway, if you're sitting there as a child and you've got more and buffer buying shares,
• 27:49
  you're pretty. Yeah. I think the number of people that would have bought shares in child
• 27:53
  now after that. But again, he takes a very long-term view. You know, like he is taking big
• 27:59
  bets. He's taking 10 plus year views with these companies. So don't expect to be like, oh,
• 28:03
  cool. I'm going to get a little boost in the child's share price because we're in buffets
• 28:08
  buying. Yeah. And what is the curve weekly? Also, just wanted to say thank you to everybody who
• 28:14
  filled in our survey because we did a bit of a research piece a couple of days ago. We put it up,
• 28:19
  honestly, for 24 hours planning on getting 500 people to fill it out to give us feedback on ideas
• 28:24
  and what people wanted to see in the investing club blah, blah, blah. We went to sleep and we
• 28:29
  were literally like, there's no way 500 people would do it overnight. We woke up. There was like
• 28:34
  800 and something. So we extended. We've done like all founding membership and there's a thousand
• 28:39
  people. I imagine a lot lessing to this podcast probably. Some of those. So just wanted to say thank
• 28:44
  you for everyone taking the time to do that because it's really awesome to look through. Thank you.
• 28:48
  What everyone wants to see from us and yeah, and we're excited. Yeah, it's so exciting, isn't it?
• 28:55
  Founding members. Okay, thanks everyone for being here. Sorry about like the kind of minimal
• 29:00
  finance chat this week. We're love that next week. Yeah, sorry. Thank you so much for listening
• 29:05
  to the curve weekly. Make sure you hit the subscribe button to stay up to date with all the
• 29:09
  many business stock market news. And if you like what you heard, we would love a review. Thank you.
• 29:14
  Yes, we would love a review. If you didn't hate it, please, yeah, don't leave one if you hate it.
• 29:20
  No, but in all seriousness, could you please leave a review because it really helps other people
• 29:23
  find your cute little podcast. And we hope you have a good week and see you next Monday. Bye. Bye.
• 29:30
  Sweet. Yeah. See you next Tuesday. Wow.
• 29:34
  See you next Tuesday. I mean, Monday.
• 29:44
  You