Latest / The Curve / TCW57: Get over yourself, Wendy.

Transcript

TCW57: Get over yourself, Wendy. · 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
  Oh my god, on a slay living in two countries is a bit more stressful than we've been to.
• 0:20
  I'm leaving on a jet plane. I actually think and normally think about like
• 0:28
  shut up when people sing like random people and that's information. But I think that was quite
• 0:32
  in key actually. Yeah, yeah. What other people might disagree? But it's funny, it's like people
• 0:39
  like, when are you going to be back? So for context, I'm leaving on a jet plane and about six hours,
• 0:45
  yeah, to pre-recording this. But yeah, the number of people are like, so when are you going
• 0:49
  to be back? I'm like, I don't know. Does Annie is going to want to sponsor us that we can get
• 0:55
  lights back more regularly? It's quite good. If anyone works at Andy's,
• 1:02
  Zealand, please get in touch. Yeah, any airline, any airline will do it. And to be honest,
• 1:08
  we'll go with jet stuff. Not oil. Oh god, yeah, no, it's funny. You think you're so ready and
• 1:16
  you're all packed and you've got everything, your eyes dotted in your tea's crust and there's
• 1:22
  always stuff that's like, oh, shit, this, oh, shit, that. Well, like, I had that. I always
• 1:26
  meant to leave on like what three days ago. And I actually just had to move my flight because I was so
• 1:31
  ambitious with what I had to get done. You, my room, honestly, like I had some friends over for
• 1:36
  like the last supper. And I literally was changing my flight at about 750 pm the night before I
• 1:41
  flew out. And a friend went down to use the bathroom, which is near the room, like maybe a
• 1:45
  dream downstairs. And I just was like, don't look in my room. And I heard this like kind of
• 1:50
  yelling, oh my god. I'm like, I said, don't look. It's like, when someone's don't press the
• 1:59
  button, it's like, all you want to do is press the button. You're like, oh, I'm the same as my sister's
• 2:05
  and she knocks on the door the other night. And I said, don't come in. I'm coming. I'm coming
• 2:08
  because I don't want you to see the state of my car. I bet she's half packed in the corner and
• 2:13
  then another bag that's to go somewhere else. And it's like, oh, I'm the same. She should be there.
• 2:18
  I actually got a tip for people, which I never thought about doing, but because I've been going
• 2:23
  through heaps of stuff that I've got like in a garage stored here, I found all these new clothes
• 2:29
  that I put aside before we went to London that I was like, oh, I don't need that because of the seasons
• 2:32
  or whatever. And now I feel like I have a new wardrobe. I'm like so excited to get dressed in the
• 2:37
  morning. You don't have feeling when you have new clothes and just enthusiastic about how you look
• 2:42
  and doing stuff. And anyway, I think it's what they do with kids for toys, don't they? They hide
• 2:47
  them in a box and then get them out, like trick yourself. Hide how to wardrobe and get it out
• 2:51
  again. I'm excited to go back to London because I'm like, oh, all these clothes that I left there
• 2:56
  that I haven't been able to wear while I'm here. It's so good. It's a real hack. Yeah, treat your
• 3:01
  clothes like toys and hide half of them. Treat yourself like a two-year-old. Yeah. Yeah, exactly.
• 3:10
  Anyway, so this means so much going on this week. I was like spoiled for choice.
• 3:15
  No, really. It's what we talk about. Yeah. Should we try get through more than we normally do?
• 3:19
  Like, should we do lots of different topics? Sure. Yeah. Why not? Let's just, I just hate
• 3:24
  some good stuff. It's just so for me. Like, oh, and this is what you chose.
• 3:30
  I reckon you're getting so good at picking the good stuff. I don't even look at it anymore.
• 3:36
  I'm just like, I love what I say anymore as if I did. I know. Sometimes I'd come to the
• 3:42
  records being like, well, she picked out today and now I'm like, oh, no, she is on fire.
• 3:47
  Well, good old Warren Buffett. And I say old because he is old. He's 93 years old. So,
• 3:54
  every February, his company book show had the way he writes an annual letter to its shareholders.
• 4:00
  So, and it's kind of, he's been doing, I think, he's done 58 letters now. So that's a long time
• 4:06
  that he does a letter once a year. How long have they? They're like four pages.
• 4:11
  Oh, delicious. Do I see it? Is this one about Charlie? Yeah. Oh, my God, I love this.
• 4:16
  Yeah. So, so it comes to me in a meeting and she was like, so Vic, I think we should do something
• 4:22
  about the letter that Warren Buffett wrote to Charlie Munger. Have you read it? I was like, in my
• 4:27
  head, I was like, I should lie. I should lie. I can't. And I was like, oh, yes, no, it is.
• 4:35
  Do you have read it? Well, you hadn't read it. No, I hadn't read it. But I was like, I should say yes
• 4:39
  because it's all I can do to it. Oh, my God. Yeah. Do you know the only reason I came across that
• 4:44
  is because someone sent it to me. It's not because I was scrolling the financial times or something.
• 4:48
  No. And also, you don't need to. I read half of the first paragraph. So every year,
• 4:56
  Berkshire had the way has an annual general meeting. And coincide with that, they have a letter
• 5:01
  that they released to shareholders. And it usually dictates the investments of the companies made,
• 5:06
  how well it's done, profit, revenue, all of that fun stuff. But this one is that, yes, it included
• 5:12
  a beautiful tribute to Charlie Munger who is those who don't know Warren Buffett's right-hand man
• 5:19
  who died 33 days before his 100th birthday. That's so shit. Yeah. But to think they're still
• 5:25
  investing. So Warren Buffett 93, he's still investing. And Charlie Munger was 99 and still investing.
• 5:32
  That's crazy. He's kind of a hundred because you know how you don't get called one until you've
• 5:38
  lived for a whole year. Well, you're just changing the whole age. He was in his 100th year.
• 5:44
  Sorry, not important. Yeah, not important. But anyway, the important thing was the amount of cash
• 5:52
  that Berkshire had the way has. So this means, this is cash on the balance sheet. This is
• 5:57
  money that it's not spending, that it's kind of saving for a rainy day. And they have 170 billion
• 6:04
  dollars to play with. There's cash that they can use to buy investments, to invest in other companies.
• 6:11
  It's just like that they're free well, really. And that was up 40 billion dollars over the course
• 6:17
  of one year. So they've increased their cash by 40 billion dollars to 170 billion. And the
• 6:23
  thing with this, people are going, okay, well, if Warren Buffett and Charlie at the time are not
• 6:29
  investing, why they're not investing, they're not seeing opportunities that rather keep the cash
• 6:36
  then invest in businesses. But is that like an absurd amount for them to having cash compared to
• 6:41
  what they normally would? Yeah, it's a massive amount. Yeah, it's all due to the lack of opportunities
• 6:47
  really to put that cash to work, as we would say. So people are like, oh, is this a warning?
• 6:53
  The fact that one of the best investors in the world can't is not investing. And that's because
• 6:59
  we spoke a few weeks ago how the stock market of the US had reached all time highs and has done
• 7:04
  you know, fantastically well. But yeah, so historically Warren Buffett has been very conservative.
• 7:10
  And so the fact that the stock market's reaching record highs, Warren Buffett's not spending.
• 7:14
  This has kind of got a few investors concerned about like, oh, should I be like you said,
• 7:19
  selling some, taking profits, you know, locking in some profits that I've made, not investing,
• 7:26
  holding on, you know, all the market for all these questions for people that are trying to
• 7:30
  time market, which is not the best thing. And then other indicators as well, we had Jeff Bezos
• 7:36
  a few weeks ago, you remember, he sold nine billion dollars worth of Amazon stock.
• 7:43
  That's right. There's Mark Zuckerberg, who has also sold some shares and recently, oh my
• 7:49
  good shit. This is freaking me out. We've got the CEO of JP Morgan, Jamie Demon. He has just said
• 7:57
  that he's sold about a hundred and fifty million of stock in his first ever sale. There's the
• 8:03
  Walmart family selling. So there's a lot of people that are selling. That's the carouseling.
• 8:08
  Not perfect. Harris is not selling. She is, she's there for the long haul, baby.
• 8:12
  Okay. Yeah. I kind of love that. Can you say baby more? It sounds fun.
• 8:19
  Just when you talk money, talk money to me, baby.
• 8:23
  Wow. So even selling. So you've got Warren Buffett sitting on cash. You've got people selling
• 8:28
  because they want cash. So I don't know, there's just a bit of error of concern in the stock market
• 8:34
  at the moment of what's going to happen. But hey, if you're in it for the long haul,
• 8:39
  there's been so many ups and downs historically over the years. And there's a great quote that I
• 8:45
  remember saying to your wild go soap and you were kind of like, yeah, choose your hard one.
• 8:49
  I've got about that. It's so good. It's my favorite quote. And it's the most depressing quote ever.
• 8:57
  What is it like? It's like it's hard staying unhealthy as hard.
• 9:02
  Getting married is hard. Being divorced is hard. Being broke is hard. Being rich is hard. It's
• 9:08
  like so. Choose your heart. Yeah. Yeah. I remember you being like when we first started
• 9:12
  doing like video content, you're like, I've got a really good quote that we can use in this bit.
• 9:17
  Like, it's real good. And then you see that. And I was like, it's so hard.
• 9:21
  Please. No, life is hard. You know, like I'm just saying it to the camera.
• 9:27
  Well, anyway, no, this one is be fearful when others are greedy and greedy when others are
• 9:33
  fearful. I compared this before. There's enough finance and investing planner.
• 9:38
  Yes. Yeah. And what this means is when the stock market is where it is at now and super
• 9:43
  high and don't really, really well, that's people getting greedy. They want a little bit more return.
• 9:48
  The stock market's done well, which means that a lot of investors are demanding, investing or
• 9:53
  demanding certain companies shares. And so this is Warren Buffett sitting in the side lines
• 9:59
  being fearful because others are greedy. And then I would say what will happen is that if we do
• 10:06
  see the stock market fall, that's when Warren Buffett will be greedy because others are fearful.
• 10:12
  And people will be pulling their money out because they're like, oh my gosh, the stock market's
• 10:15
  falling, the stock market's falling, they'll pull their money out and that's when Warren Buffett.
• 10:18
  So maybe that's why he's holding on to so much of it now because it's high and because he
• 10:22
  runs being greedy. Yeah. Oh, that was the whole point. That's why he brought up the money.
• 10:26
  Yeah. Yeah. Yeah. Yeah. Yeah. I hope we got there. We got there. And one more thing that was in
• 10:29
  the sheholder letter that he wrote was how well the five companies in Japan that he's invested in
• 10:35
  have done. So they've done fantastically well. And we spoke about this last week as well around
• 10:42
  this gem news stock market doing really, really well. I kind of wanted to get an ETF. I forgot
• 10:45
  about that. Yeah. Can't do that with four dollars in my account. How you can do it with one dollar?
• 10:51
  True. I could. I'd like to just ask you before we move on from Wasa, what are we going to do when
• 10:58
  he's not around? Who are we going to, who's going to be the king of investing? All queen.
• 11:03
  Oh my god. Sometimes it's so annoying how ingrained it is, isn't it? I know. I was
• 11:10
  an event or something and I was talking about a doctor and I was like, and then he does it and
• 11:14
  I was like, he or she, you know, he can't suddenly have to correct yourself. It's bad.
• 11:20
  We've actually been episode coming out in a bit about girl maths and we found ourselves doing
• 11:24
  the same thing. We were speaking to an economist who was a woman and we would just kept like
• 11:28
  foot in mouth disease and we were like, we're so sorry we're playing it and exactly what you're
• 11:32
  trying to explain is a problem. Yeah, but this is a thing we've been conditioned for so long
• 11:37
  and we've seen what we've seen for so long in society that it's going to take a while to
• 11:44
  undo that, but we're trying out best. Cut us some slack. Yeah. In other news, reddit is IPOing.
• 11:51
  Oh, I just say a public company for the first time. Do we know what it's a deliadat?
• 11:57
  $5 billion, yes. I mean, it's the first really prominent social media platform since SnapChat
• 12:04
  IPO in 2017, which has been an absolute disaster. So it'll be interesting to see how this goes.
• 12:10
  It's going to IPO on the New York Stock Exchange and so you've got the New York Stock Exchange
• 12:18
  and the NASDAQ, which are the two main stock markets in the US. So those companies in New
• 12:24
  York Stock Exchange and the NASDAQ almost like a bid for companies to list on them. So they might
• 12:30
  be like, look, NASDAQ might be like, look, look, look, we can cut you some fees here and you don't
• 12:35
  have to do this and we've got all these other companies that have done really well list with us.
• 12:39
  So it's like an insurance broker. I'll give you a better deal. Yeah. Yeah. Or it's like,
• 12:43
  our platform's great. You should choose us. Usually the special case with reddit is that usually
• 12:48
  IPOs, they're dominated by institutional investors. So companies like funds management companies
• 12:55
  that I used to work for, we would get almost first look at IPOs and we'd say, yep, we'll take this
• 13:00
  much. We'll take a few million dollars of this and there's kind of little bits left over for
• 13:05
  retail investors that you and me. So they get the last, like, dribs and drafts. Whereas the
• 13:10
  key thing, which is really great for... It makes sense because you would have a way more
• 13:15
  as a professional if you're running a fund to invest in something. Yeah, or I would. Yeah.
• 13:19
  And the companies they want to know, okay, cool. 80% is supported by funds management companies
• 13:26
  or like they're interested. The key thing with reddit is that they've flipped that on its head
• 13:32
  and they've gone, you know what, we're going to email all the users of reddit and say, hey,
• 13:37
  if you want to be an investor, you can pre-register or here's your option to become an investor through
• 13:44
  the IPOs. And that's going to show well. Yeah, quite cool. We're power back to the people kind of thing.
• 13:49
  So... It's like crap. It's like if the curve they wanted to raise actually maybe doing it that way
• 13:53
  and having the curve community invests in us. So that should be really cool. Yeah, definitely.
• 13:57
  So it's quite a good way to... Especially because it's a social media platform.
• 14:02
  You know, it's relies on its users. Do you know, it has 73 million users a day users platform.
• 14:10
  But that's crazy. So every day there's an average of 73 million people using reddit.
• 14:16
  I'm like, gosh, I can't imagine that many people using the curve.
• 14:19
  We'd need some serious customer service, James, wouldn't we? Oh, yes. Oh, gosh. We'd need some
• 14:23
  serious customer service. Anyway, so yes, $5 billion IPO of reddit and it's generated about 800
• 14:31
  million in revenue last year. So, and that was about 20% on last year. And I've lost it.
• 14:39
  No, sorry. I'd keep yawning, but not because of you. I've just not really really doing what?
• 14:44
  So sorry, do we get to nothing? I promise. I got up so early. I went to actually I went to
• 14:49
  Sala. I went to a Pilates class. Yeah. It's the first time I went to a Pilates class.
• 14:57
  It was so good. And I got home today and I said to my dad, I was like, God, I just... I
• 15:04
  felt like I had a really productive two days. He's like, doing that's got nothing to do with the
• 15:06
  fact. They did a yoga class yesterday and a Pilates class today. And I'm like, you know, yes.
• 15:10
  Thanks for everything. You know when you know you should move your body, but you just
• 15:14
  hard to get back in the habit sometimes. It reminds me of some of Tragedy Madagascar where he's like,
• 15:20
  I like to move it to move it. I like to move it to move it to move it. I like to move it to move it.
• 15:26
  I like to move it. So move it. Lots of songs on this one. Yes. So anyway, I don't even know where we
• 15:33
  were. So can I just say something? When we dance sometimes, in my head I see myself as a really
• 15:38
  good dancer. So I was like, there'll be a hip-hop song on and I honestly read it and I'm dancing
• 15:43
  like Jason Derulo, but I'm not. And just then when I was like, I like to move it more, but I
• 15:48
  honestly thought, you know, Jason Derulo. I thought I, no, no, just Drill it, but I felt like I was
• 15:52
  just dancing really good, even though I know I'm going to see this back on the video and be like,
• 15:56
  never do that again. But there's lots of other IPOs as well that are happening. So there's
• 16:02
  shine. We've spoken about this before, but one thing that's shine is probably deciding to do
• 16:09
  is list in London. So we spoke before about how New York Stock Exchange, the NADSDAQ,
• 16:15
  they're the biggest, the most prominent, therefore they attract a lot of investors.
• 16:19
  The London Stock Exchange hasn't done too well, hasn't done nearly as well as the American Stock
• 16:27
  Exchange's. And shine would be its biggest ever listing. But the key thing with shine is that it
• 16:34
  has had so much backlash. Terrible from the environment aren't they? Like the fastest,
• 16:40
  fastest fashion either. Yeah. And so it's kind of a case of like, okay, where will we get the most
• 16:45
  demand? Where do people know the least about our fast fashion, you know, saga or like
• 16:52
  controversies? So yeah, I think shine's going to have a bit of an issue. And I would just love
• 16:57
  to be a fly on the wall when they do their roadshow and they go around to investors and try and sell
• 17:02
  their company. Just the number of questions and we're like, excuse me, what about the fact that
• 17:08
  you make cheap garments and you are putting fuel in the fire to fast fashion, bad for the environment
• 17:14
  or this? So I don't know, it would be fine. But to people thinking like, what can they say back to
• 17:19
  that that's going to make their make people invest in them? You know, like because there's all
• 17:23
  various things that are problems with their. Yeah. Well, everything has a price that just
• 17:27
  price the company at a lower valuation and people will be like, oh, it's a no-brainer. And people
• 17:32
  that are maybe sitting on the fence of, I want to save the planet, but I also want to make money
• 17:37
  would probably invest if the price was cheap enough. Do you know what I mean? Oh, that's an interesting
• 17:43
  question even figuring out like, what is your line in terms of making money or sticking to your morals?
• 17:48
  Yeah, definitely. And then also, Clarner is another one that's IPO'ing, so this is a buy and
• 17:52
  outpay later company. It's really going with all the shit companies, aren't they? Yeah, yeah.
• 17:58
  Yeah, so this is going to be a $20 billion company and probably going to IPO in the US.
• 18:03
  So they handle two million transactions per day across 45 countries. So they're one of the biggest
• 18:10
  buy and outpay later companies outside of Australia and New Zealand's US. So more in Europe. But
• 18:16
  it would be interesting because after pay is a listed company. And now you've got another buy and
• 18:21
  outpay later company that is listed. So you can actually, the great thing about being a public
• 18:25
  company is you see their financials. So you can see, oh, wow, Clarner is taking market share of
• 18:31
  after pay or after pay is taking market share of Clarner. So quite good to have two companies
• 18:36
  in a similar space because it gives you a better idea of kind of who's who's winning or who we
• 18:40
  should invest in. If you're interested in investing in find out pay later companies in any way. So
• 18:45
  kind of coming back to that whole thing around the market, it's done so well. When the market does
• 18:49
  really well, that's when we see a lot of IPOs. So just be wary that people like to make how
• 18:56
  the sun shines and it's much easier for a new company to be successful in the stock market
• 19:03
  if the IPO is when the market's going out. Because everything's doing well. Everything's doing
• 19:08
  well. If it's all doom and gloom out there, it's going to be a harder sell. It's going to be
• 19:12
  harder slog to get investors on board or to buy your shares. So this is why you do start to see a lot
• 19:18
  of IPOs when the market's doing well. And then when it's not doing well, companies are like, I don't
• 19:21
  want to IPO. In other news, so you know, how you have, if everyone orders an Uber at the same time,
• 19:30
  there's surge pricing. You know, if there's a constant on, everyone's trying to get home or say
• 19:37
  a flight that's in really hot demand. So around Christmas time, we want to fly home from London,
• 19:42
  flights are absolutely ridiculous. This is what you call surge pricing. So when there's a surge
• 19:47
  demand, the prices increase. Now imagine this happening around dinner time. Everyone's trying to
• 19:56
  order dinner from a fast food company and they're like, you know what, we're going to surge
• 20:01
  prices because everyone wants to dinner at the same time. Are they going to do it over?
• 20:07
  No, with Wendy's, the fast food chain Wendy's has come out. Their CEOs has said, you know what,
• 20:13
  just like Uber and just like airlines, we're going to try surge pricing. So certain menu items will
• 20:20
  be more expensive during peak times. And everyone's like, are you kidding? Like what the hell? And
• 20:28
  there was like this preemptive consumer backlash. Everyone's like, oh my god, absolutely not,
• 20:32
  you're not going to be doing this. Are they listed? And yeah, yeah, Wendy's is probably going to
• 20:36
  plumber. Good question. But I think from it, like it's hard to tell with these kind of initiatives,
• 20:43
  it's hard to tell because if you're going to get more revenue by charging more,
• 20:48
  yeah, it's like, well, then maybe it's good for investors, but I mean extra prices haven't
• 20:52
  really done much to be honest. Pretty bold. It's like saying, this is the most popular top and
• 20:57
  our whole collection. So we're going to make it actually twice the price just because you're on
• 21:00
  wantser, like, yeah. And I guess it's like, it's fine when there's limited supply, like ticket sales,
• 21:06
  you know, if people are going to buy them and then resell them because people who want them,
• 21:10
  there's only a certain number of tickets. Whereas Wendy's, it's like, they're true. I can go
• 21:14
  elsewhere to get a cheeseburger, you know, like, you're not that hot shit. So funny. I know.
• 21:20
  And so it had just. Yeah, get of yourself, Wendy. Or someone. We paid like $5.50 for a burger and
• 21:30
  then you get five. That's not 10. You know, it's $10. You'd be like, what? But she bought it for five
• 21:35
  to you, like, yeah, sorry, search pricing. But I guess that's the thing we do do that with Uber.
• 21:41
  What's the difference? Is it because there's a limited amount of Ubers and therefore you can.
• 21:47
  Is this just a new economy we're living in? And hey, if you can, if you're hungry and you can
• 21:53
  afford to have dinner before 5 p.m. before the surge. Save money. Save money. You know, I don't know.
• 21:58
  It's going to be interesting. But there's been something. Bring it on. Give me some crafty
• 22:03
  wares to save money. I'll get into it. If it's like all supermarket items and check between three
• 22:08
  and five a.m. I'll be like, setting my alarm to do some shopping at that time.
• 22:12
  Totally. So we'll be like, do I have a dinner at 3 p.m.? It'll be like, no, no, just had lunch.
• 22:17
  Thanks. But yes, it's funny. Burger King's jumped on like the spin of Pierre Goldmine for Uber
• 22:24
  on our fast food space. And Burger King's come out and saves. The only thing surging is our flame.
• 22:30
  And yes, we're like, it's like, we don't believe in charging people more when they're hungry,
• 22:39
  like all this stuff. So people are like, I'm kind of weird now and when is there more than
• 22:43
  now? I know. I mean, they're kind of backtracked to be like, oh, we're not going to do it for
• 22:47
  cheeseburgers. Oh, God. It's all milkshakes. It's only other things. And I'm like, oh, gosh,
• 22:53
  here they go. They've like put their foot in it and now they're heading straight. If you were to do
• 22:56
  like avocado on toasters going up because there's limited abacados, fine. Yeah. Yeah. It's all frozen
• 23:03
  patties in the chest freezer. Like, I don't know. I think it's pretty funny though. Yeah. But it's
• 23:09
  like Pilates classes. Like, I remember, I think it was a few years ago and I belonged to this Pilates
• 23:16
  studio and they were like, off peak times. And they've got it in salad. Yeah. Off peak. So it's
• 23:23
  like maybe I'm in London. Oh, I thought you're right. Yeah. It's like yummy nummies timing.
• 23:28
  Like 930, you can get a cheaper class because it's not peak traffic. Yummy deadies. Yeah. Sorry.
• 23:34
  I did it again. But I mean, seriously, how many yummy deadies do you see at a Pilates class?
• 23:38
  I know. Yeah. When you do see a guy at Pilates, it's like, oh, honestly, it's so funny as all
• 23:43
  because you see a guy in yoga and you turn around and you're like, oh, he's kind of cute. And then
• 23:47
  you're like, definitely like I could beat my life savings that one of the women to either of your
• 23:52
  sides is your girlfriend or wife. You know, like there's no way you've come here alone. And if
• 23:56
  anyone finds a man that takes himself to a yoga class, give me their number.
• 24:01
  I love it. And Pilates, the guys come and they're like, they go on like the hardest springs with
• 24:05
  the heaviest weights and the teachers always like, I'll just just reduce the weight and because
• 24:10
  your forms are not quite right. You know, and they're like, they're like, what do you mean?
• 24:14
  Like, no, it's like obviously the heart of the weight or the heavier the weight. The more I'm
• 24:18
  working out. And also like the smaller muscles, if you've ever seen a guy after a Pilates
• 24:25
  husband, he actually wasn't trying to be like putting all the springs on and do that.
• 24:29
  When you get into those tiny core like muscles or you get on the lightest spring ever and you're
• 24:34
  doing in the thigh, I honestly feel sick from how sore it makes me like, yeah, and a thigh muscles.
• 24:40
  Oh, oh, I can't. What are you? What are you there for? Like what does what does what is that
• 24:45
  engaging on? Yeah, what is the end of thigh? Apart from riding a horse, like I'm so confused.
• 24:52
  I think when you walk, your inner thigh must work, right? Yeah.
• 24:58
  Part of me is like, hold on, let me just feel the core that I can use, please.
• 25:03
  It's not really, I can't honestly, I can't feel anything moving. Or is it just like when we've
• 25:08
  been diverted, up groceries or like, you know, I don't know. Oh, interesting.
• 25:13
  Climbing stairs. I don't know if anyone can answer this question. Yeah.
• 25:16
  In the final.
• 25:20
  And I was like, aren't there anything like, oh, not just to get that tone, take definition.
• 25:23
  And I'm like, no, what's the use one? What's the use case for the inner thigh?
• 25:27
  Obviously your abs is like to support your lower back, you know, to hold up your core, like all of that,
• 25:32
  you're like, I totally get what your cause for your arms, your quads, your back.
• 25:36
  If I have a muscle as a use, it's just like, in the thigh. It seems a bit rogue. Maybe it's like a
• 25:43
  kidney where you could just take it out. I think you can lift.
• 25:48
  You can be the guinea pig on that one. Okay. Anyway, we're going to wrap this up.
• 25:54
  Oh, we got through some good stuff, I think. Yeah. I was like, I like that. And
• 26:01
  important stuff only. Okay. I will. Get a delay for time this time. I think I'll cry for
• 26:10
  about this seven times today. Oh, darling. It's a lot of days when you're just like
• 26:18
  the tiniest thing. And just saying goodbye to friends. I'm like, yeah, yeah, yeah, yeah.
• 26:21
  I honestly was going to mess with you and say, do you want to cancel the podcast? I just sort of felt
• 26:24
  like, he's really turned it on. It was actually like, good distraction. Yeah, get out of the
• 26:30
  goodbye zone into this. Nice. Hi Sophie, zone. Yeah. Unfortunately, it's not that easy to say
• 26:37
  goodbye to me. So I will chat to you in your layover. Get a million voice notes from zone.
• 26:44
  Oh, hey, how's the fight going? I don't see if you laid it yet. Oh, okay. Cool.
• 26:50
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• 27:12
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