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Transcript

The Aussie Billionaire Trying to Snatch Victoria’s Secret. · The Curve

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Welcome to the Curve Weekly, the podcast that keeps you up to date with all of the money
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business and stock market too. Brought to you by the Curve's research team.
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It's the latest insights on what's happening in the stock market, companies,
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other money related news so that you can stay educated and ahead of the curve.
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You can thank us later for sounding smarter than those finance bros you need to do in a party.
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So in this episode we talk about the Kiwis over changes that have been going on in New Zealand.
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So if you're not in New Zealand and you can skip that whole section,
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we talk about United Health care and just a trigger warning, we talk about assassination
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in that part. And then we finish with a bit more lighthearted news about Victoria's secret.
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Oh my god, before we start, I've got a present for you. Is there a calculator?
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No, no, no, no. It's from this really cool book shop in New Zealand.
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And like the coolest part is that this is quite good. Oh my god, that is really cute.
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It's a new book. It's a new bookmark for you. It says, Mom, I am a rich man.
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Love it. White on brand. Very, very on brand.
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Love it. It's literally the intro gel polka. I just bought two books as well.
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It's so perfect. I did have to bring three whole suitcases back with me.
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Oh shit. So I had to get a small gift that wasn't going to take out space all the way.
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Push your over the threshold. No.
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Be worried if it does. Do you know how expensive it is to pay for overweight baggage?
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It is. For me, when I was going from Japan to London, it was cheaper to upgrade than pay for extra
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luggage. What do you mean upgrade to? Not for whatever. It's much cheaper than me to get a business
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glass. No, to upgrade from economy to premium was like, I don't know, it was 300 pounds or something.
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But to add next to bag was 200 pounds. I was like, well, that's a no brainer.
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An extra 100 pounds. Oh my god. Maybe I could have upgraded. Yeah. Good to have you back.
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Great to be back. God, the admin of flying though. It's like the studio is in a bit of a state
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when so forked. And you know, it's kind of like when your parents go on holiday and they come back
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and you're like, you're washing around and you're trying to clean up. And you're like,
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it's a big thing. I've hoked the plant in here. We had a really beautiful plant. It's no
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deep. I think we need to get a fake plant. This is a studio with no lights, no ear.
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There's no place for a creature. I actually hate a fake plant. So much.
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I came back into my room, which I rented out, which by the way, honestly saved me financially,
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like so admin finding sublets when you're in like a house share, particularly because you could
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come back in your flatmate's like, we hate you, the person that you got in. Especially when you're
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like, I'm not coming back from another mouth. Another mouth. Another mouth. They're like kidding.
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Like Greg is really driving us on same place. Actually, yeah, because I was meant to have
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a six weeks and then ended up being four and a half months. But anyway, I came back in my plant
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and my room was dead. So you have one job, like, you know, well, they were paying rent. So I can't
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exactly be like, but they were living with a dead plant. I mean, look, it doesn't matter how often I
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try and, like, keep a plant alive. We've just admitted, you know, it's actually strangely
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probably more difficult than keeping a lot of dog or something like getting the watering schedule
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right. This is the most boring. We have had an ages and we have so much to talk about.
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Okay, let's just show up and get to it. Okay, firstly, there's been some massive changes in
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New Zealand to do with superannuation in Kiwisaba. So the New Zealand budget was released. A budget
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is when a government sets, you know, revenue and expenses for a country and they look at everything
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that's happened in the past, what they need to achieve in the future, where they need to invest in
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like healthcare education. Okay, where's that money coming from? You know, they're kind of like
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balancing the books. I think a personal balance sheet. Exactly. It's like a personal budget.
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And they look at, do we need to increase taxes and get more income in because we've got increased
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spending? Anyway, one of the things that came out of it is Kiwisaba. And this has kind of been
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rumored for a while that they were tinkering with Kiwisaba. And there's three main changes that I
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want to run through. Can I just ask before you get into it? Did you feel like an economist,
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the amount of people messaging us, being like, what's going on with Kiwisaba? I need to have
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talked. There was so many messages. I was like, is that turned into like, I don't know, a New Zealand
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economist? I was quite impressed at how many people. It's actually quite good because our community
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was like, hey, if we are the budgets tomorrow and there's going to be amounts from Kiwisaba. I was like,
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thank you. And then also I put out a post that was very incorrect. That's right. Me. I was like,
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walking at like six o'clock in the morning and I was reading the news and I hadn't had my coffee
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yet. And I was like, you know what? I'm going to like, really front foot like our social media girl
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and like, so if I'm going to be on to this and give them the content, you know, before they ask
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for it because usually like, can we get this from you? Anyway, so I did it. And I was like, yeah,
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cold now tech, yeah, on my work. And then police, our social media girl was like, I'm I think
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there's some things wrong in it. And I was like, oh, and there could be a full stop in the wrong
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place. And she said, I think we need to take that down. And that's actually incorrect. I know,
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I was just like, and she's like, we're all human, babe. I was like, I know. But like, God, anyway.
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So I put up a new post. It was actually so this podcast is 100% correct. I have. Okay. Nice. Nice.
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But firstly is that people earning over $180,000 now per year no longer get the government
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contributions. So remember each year at all. So remember each year, if you put in $1,042 a year
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or more, you got $529 from the government, like no questions asked. And now if you earn over
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$180,000, you get nothing. Which yeah, which means that it's what we call means tested, which it's
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never kind of been before. It's like everyone's been treated exactly the same. Anyone earning below
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that now gets half what they used to in terms of the government contribution. So it's gone from
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$529 to like $260. What's the main reason? Like, I mean, obviously they look at the budget and
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they're like, where can we cut? Yeah. What's, you know, what's got to come out? Blah, blah, blah. But
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like, how is that going to impact people? Like, what does that actually look like? Yeah. Well, like,
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if we look back when Kiwi say the first started, there was so many incentive to give people in it,
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right? There was $1,000 just when you opened an account. There was $1,000 a year in government
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contributions that then dropped to $500. Now it's dropped to $260. Like, it's
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that started with like a hiss and a roar, I guess. And now it's being scaled back and scaled back.
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This cut in contributions from the government is kind of, I guess, the thing that
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etched me off the most because that member tax credit amount wasn't adjusted for inflation anyway.
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So it's already loaded. It's pretty each year becoming, quote unquote, less and less. And there
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is very few incentives for us to contribute to our Kiwi saver. Apart from the fact that
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contributions come out before tax. So you kind of get, you know, you don't have to get paid, get
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tax and then put them back into your superannuation or your Kiwi saver. So nice people are like, I know.
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But anyway, there's very little incentives. And so that was kind of, I guess, one of the key things
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that's like, oh, cool. I get free money from the government. But we still do, but if you're
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any older, over 180,000. So that was one of them. One thing to remember with that though is you
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still have until the 30th of June this year to get that full amount. So it starts from the 1st of July.
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So if you haven't put your money in for this year, if you haven't put it in $1,042 or more,
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then go ahead and do that because you'll get the full $529. So last year you can do it.
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Oh, how annoying. I know. The other thing is they're changing the contribution rate.
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So the default contribution rate, if you don't choose any percentage is 3%.
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Which is already low. Like 3% is not a lot. Australia, it's over 10%.
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Yeah. I think you need perspective. I think that's a really good person.
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Because when you hear that, if you don't really know a lot about investing or how much
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through whatever, not that sounds condescending. But pointers back in the day, I used to think
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3% and what, you know, and actually I opted out of the lowest one. So it doesn't, yeah,
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maybe it sounds like a lot for someone who isn't used to the idea of putting money aside
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regularly or whatever. I guess in the scheme of things, 3% globally is like the most
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minuscule amount. The point where we often say like, if you're, if you've got no kids,
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if you don't have like a huge amount of outgoing, like the more you can contribute, the better,
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like, I wish. One thing I'd done when I was younger, when I was in that exact position,
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earning lots have very low, didn't have a mortgage, didn't, don't have kids.
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Like, I wish I could go that totally and be like, just put 10%.
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So yeah, so it's going from 3% up to 4%.
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Oh, that's good. At least there's that.
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Woo, 1%. Yeah. I mean, I thought you were going to say it's going backwards.
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No, it's going to be 3-4. And the employer contributions will match that.
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So you actually, you were going from 6% to 8%.
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Well, at least there's that.
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And it will be staggered. So it's not like you're going to wake up next year and it's
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be 4%. It's going to go three and a half or so by 2028, it'll be 4%.
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28. I know. Good Lord. They're really stretching that one out.
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Yeah. So the thing is that you can opt out. So you can opt down to state it is 3%.
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Do not do this. Anybody. I can't even. I shouldn't be inputting the podcast.
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Yeah. It shouldn't even be an option.
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But if you do, if you opt for 3%, your employer can drop down to 3% too.
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So just just follow the rules, everyone.
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Just yeah, don't opt out. Don't yeah.
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Anyway, what I was hoping would come out of this is that the budget or
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yeah, and the QSW changes is that it would be mandatory.
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There is 1.2 million people in New Zealand who still do not have QSW.
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The other thing is that they also are introducing employer and government
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contributions for 16 and 17 year olds, which is really, really cool because
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only ever started at 18. So it's encouraging people to invest early,
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start thinking about their retirement early, which we all know.
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So you can now, I didn't even realize you could get QSW.
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I thought that you had to be 18. That's the whole point.
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That's the change. Yeah. So the change is that if you're working
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and you're 16 or 17, then you can start contributing.
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And you, you could always contribute, but you wouldn't get the benefits of the
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employer matching and the government contributions.
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And now it's the same. Yeah. So the employer as well.
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Employment and government. Yeah. So it's like encouraging young people
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to not only work, but contribute and start thinking about their retirement.
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Emily, sorry, one moment. If you're on, I'm just going to ask how
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produces something quickly. Did you have a job at 16?
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Yeah, 16 was on a cheese counter.
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The supermarket. That'll be actually.
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Oh, like, how much free would you like?
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We'll just wait it. Would you like a bit more?
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Yeah, actually cutting up slice of cheese. Oh my god. Also,
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so the first week and I ever worked, I was cutting up like this huge piece of
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ham and it was so noisy and I couldn't hear the machine going.
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And I picked up this huge piece of ham,
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put it in a meat slicer and cut all my fingers.
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Yeah, it was awful.
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Oh, I should have not seen it going that way.
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No. So did you like nearly lose your fingers?
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I was quite close to the bone. It wasn't, it wasn't fatal, obviously.
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Shit, okay, so you did have a job?
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Yeah, at 16, yeah.
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Okay, because we did, I'm sure that we got government
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like we were able to put in some pension at that age.
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Like, I mean, you can, you can set your kids up with a kiwi saver.
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You know, like, you can do it for kids and a lot of people do.
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It's just there's no benefit really
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from the employer or the government.
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So you may as well put it into like a normal fund.
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It's kind of what I'm saying.
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Yeah, I just feel like if your job at 16.
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Yeah, I did gymnastics so intensely when I was at school.
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Like, I was competing for New Zealand and training like
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before and after school.
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Like, it was so intense.
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So I just, I actually didn't really have time.
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I did random stuff in the summer holidays,
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like working at the horse races every now and again,
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or like, you know, random catering jobs.
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Also kiwi saver wasn't around when we were 16.
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I'm sitting back in the day.
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I was thinking I was like, did I?
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And I was like, oh no, no, too old.
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I mean, I had jobs like I did at house keeping and stuff like that.
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Like for like summer stints.
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But I didn't have a consistent.
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How could us babysitting you just
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put their, their food watch TV and get paid for it?
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Yeah.
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I want a babysitting now.
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That's probably a bit creepy.
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Could you, do you reckon you could get a government?
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What would that look like?
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Would you be like asking the parents like,
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and also an extra four percent?
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Do you need to match my, yeah, you need to match my,
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um, babysitting earnings, thank you.
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I would do that.
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In fact, any, any children listening in her children?
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If you babysit, that's a great idea.
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I'd be like, um, just so you know,
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my rates increased and I would like the percentage.
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Just actually been changes in New Zealand budget.
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I'm not sure if you saw.
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And I actually, you have to pay tax on it.
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Which kind of, but it is.
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Sorry, the point Emily, the reason I was wanting to ask you was,
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I feel like it's motivating when you know that stuff early.
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It's just that I didn't know anything about money.
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And also when you're 16, 17,
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you're not earning the hell of a lot either.
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And so the government contributions of like 200 year is a lot.
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It's a lot like it can really move the needle.
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Also, it's a law in the UK that you're automatically
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opted in.
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Like you actually have to go out of your ways to change it.
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Is that the same with Kiwi Saver?
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No.
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Ah.
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Oh my god, the UK's got one thing right.
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If you're under 22, you don't though.
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If you're under 22, it is not automatically.
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Yeah.
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Oh, and then when you turn 22, it is.
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And I think that's the whole thing that was saying she was,
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she wished that in this budget, it had come out
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that order in Roman.
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What's the thing?
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So it was automatic because it's so,
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I think the, the idea of making people think about,
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do I want to put money aside for a time and everyone's
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going to say no, because when you're 18,
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the idea of being old and grey is like,
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honestly, a lifetime away.
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And 3% in your pocket is so much better
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than 3% going into retirement.
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Do you like, ah, I can go and buy.
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I've got my whole life to save for my retirement.
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Yeah, yeah, yeah, yeah.
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I want to go to the movies.
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Point as New Zealand hasn't really come out of the gate
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swinging with the stunning party.
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No, but I think the key takeaway from this,
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and if there's anything, if you're anywhere in the world,
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is check who your superannuation or pension
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or QSO provider is and are you happy
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with what they're delivering in terms of performance.
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If you're young, you should be getting,
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you should be in kind of like a high risk, high growth fund.
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If you're older, though, you know, 10 years to retirement,
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then you should be in more of a conservative,
14:19
kind of lower growth fund.
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And in New Zealanders, make sure you go and check
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that you have put in at least $1,042 in QSO for this year
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by the 30th of June.
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Don't leave it to the 30th of June, though,
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because it takes a couple of days to transfer your money.
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So do like 20th, yeah, something else I wanted to mention.
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And this kind of came about from our conversation last week.
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Okay, so I was actually really excited to talk about this
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because so for anyone that didn't listen last week,
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I went through LA on my way back to the UK,
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and I really loved America.
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I was like, oh, this is so fun, love being here.
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But the healthcare system and the lack of safety nets
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for people, health-wise, insurance-wise,
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like everything is just kind of a bit scary.
15:08
And you mentioned briefly the assassination of the CEO
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of United Health, or you mentioned something
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and I hadn't heard of it.
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Yeah.
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And then I mentioned it to my friend who I was staying with.
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And I started seeing all these t-shirts everywhere,
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with like Luigi's face on it,
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who's the guy who did the assassination,
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basically assassinated the CEO of this huge healthcare
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system called United Health.
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And I went into a rabbit hole looking into it.
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And basically, his whole thing was just like
15:43
the healthcare system in the US is absolutely,
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if you see HeD and HeD was just wanting to...
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And I think it came about because he had some personal situation.
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I tried to find that out and I couldn't see it.
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Well, that's whatever I thought,
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because it was like, why would you go and do that anyway?
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But the whole of the US, not the whole of the US,
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but there's a lot of people that are Team Luigi
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because he's up for the death penalty.
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Do you know that?
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Yeah.
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Which I was shocked by.
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Like I genuinely didn't realize that that existed.
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Anyway, you were right in saying the US doesn't have
16:14
a fully public healthcare system.
16:15
So you do need to get private health insurance.
16:17
You can do that by paying yourself, by through your employer.
16:21
There is Medicaid and Medicare, which is like for older people
16:26
and people with low incomes.
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So there is some kind of support.
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But most people in America, you have to have private health insurance.
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It also must be really...
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The threshold to get that would be super low
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because I'm pretty sure there was public healthcare,
16:43
even as you're saying.
16:44
No, it's very low incomes.
16:45
Yeah.
16:45
And it obviously varies by state and state.
16:48
Because there's so many people that just don't go to the doctor
16:50
because they just kind of...
16:51
Exactly.
16:51
Because there's a lot of out-of-pocket expenses as well.
16:53
It's not like you're covered with your private health insurance
16:55
and you can go as many times you want.
16:57
It's literally...
16:59
You still have to pay a lot out-of-pocket.
17:01
So you have to pay...
17:02
So basically, sorry if we're repeating this,
17:04
some people already know, but I think this is shocking.
17:06
So you could pay around $1,000 US dollars a month
17:12
for private healthcare.
17:14
And that can be scaled up or down.
17:16
That is like your base, base, base case.
17:18
But then, you're out-of-pocket.
17:20
It can also be that type of...
17:21
It goes up to like $4,000 US dollars
17:24
before your healthcare gets in.
17:26
Yeah.
17:27
So for a lot of people who can't afford $4,000 worth of anything,
17:31
avoid, avoid, avoid, won't go to any appointments
17:34
or take their kids, which is obviously
17:36
why so many people's conditions get to the point where they're so bad.
17:41
And it's really sad.
17:42
Yeah, really, really sad.
17:43
And this is kind of been a bit of backlash
17:45
on pharmaceutical companies as well, right?
17:46
Because they charge ridiculous prices for these drugs.
17:49
And there's been political discussions around having caps
17:52
on certain prices and all of that.
17:54
And like, if you're in selling injection, for example,
17:57
that you literally cannot live without
18:02
was, say, $1,000 a month.
18:03
Like, how crippling that would be.
18:05
So brothers, but it does make you realise
18:08
in places like the UK with the NHS,
18:10
how incredible that is.
18:11
If you're in New Zealand or Australia,
18:13
like how lucky you are to have a healthcare system
18:15
that supports and looks after people.
18:17
But it's also like no country has it worked out, right?
18:20
Like, there's always, you'll find people in New Zealand
18:22
that get, you know, incredibly frustrated with the fact,
18:26
you know, that they still have to pay certain amounts.
18:28
Or wait for, wait, or like, there's,
18:30
they'll be waiting three years for a surgery or like,
18:33
you know, there's always issues
18:35
and no one has it fully figured out.
18:37
The thing that I thought was interesting about the US was,
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I was like, oh, why would they not just add that into taxes?
18:44
Why would they not just add in that?
18:46
My friend was like, do you know how expensive our taxes are?
18:49
She was like, I pay federal tax,
18:51
so like the country's tax and state tax.
18:55
And then imagine putting, she was saying there's like,
18:58
$3,000 US dollars or something out of her pay
19:00
every month that goes just to tax.
19:02
Like that's my whole story.
19:03
And also, what politician is going to be like,
19:05
we're going to increase taxes.
19:07
Like, no politicians do that to get like,
19:09
until they're in power and then they can.
19:10
But I think that's the biggest issue globally
19:13
when it comes to politics, money, the economy,
19:16
is that a lot of countries are broken in areas.
19:20
But it's so hard for a government to bring it in
19:25
or bring about change in the things
19:26
where there's like serious issues.
19:28
Because, you know, if you increase taxes for the wealthy
19:32
so that you can help less fortunate people in with health care,
19:36
the wealthy people are not going to vote for you.
19:37
They're the ones that probably also would support politicians.
19:42
You know, there's so much.
19:43
It's very, excuse the public politics.
19:45
Like, they literally is so much,
19:47
and it's like, okay, what if we tax companies,
19:50
oh, but then that impacts the stock market
19:51
because they have to, they will have to less profits,
19:54
which means it's a big sea.
19:55
It's honestly like, you want to tweak this little bit,
19:58
but it's like, it has 10,000 effects.
20:01
So United Health Care, it's share prices down 50%
20:04
in the last six months.
20:05
This is the largest healthcare company in the US.
20:07
So it's about a $270 billion company
20:10
to put that in perspective.
20:11
The nearest competitor is like 85 billion.
20:13
So it's like miles.
20:15
Yeah.
20:16
So obviously, when the CEO was assassinated,
20:19
there was another person that stepped up in the CEO role.
20:21
He is just left.
20:23
So people are like, what the hell?
20:24
But I think so.
20:26
Yeah, you'd be demanding 24-hour days, seven days a week.
20:30
24-hour days, seven.
20:32
Someone needs a nap.
20:33
24 hours a day, seven days a week.
20:35
Security.
20:36
Well, 24-7.
20:37
24-7.
20:38
Yeah, we get it.
20:41
When you say 24-7, you don't need to explain it.
20:43
When you say dub, dub, dub in the world wide web.
20:47
Gosh, that would be a really scary role to go to.
20:49
Totally.
20:50
And let alone, like,
20:52
yes, your life is at risk,
20:54
but just also the backlash you must get.
20:57
Just walking down the street,
20:59
you know, just everything going into investor updates,
21:02
going to conferences like you just...
21:05
It would also take a particular type of person
21:07
to take that job, though.
21:09
Yeah, because if you know what the US health care systems
21:12
like, you understand the business, you've got to be...
21:14
I couldn't think of any job they would want less
21:17
than doing something like that.
21:18
Because you would know there's not a lot of wiggle room
21:21
in terms of what you can do to change
21:22
or, like, better the company.
21:24
Or maybe actually there's someone
21:26
that steps in there and wants to change in a good way.
21:29
And when you're the biggest company
21:31
dealing with millions and millions of customers,
21:33
there even if it's like 0.1% that is just grand total.
21:38
That is still, like, so many people.
21:40
Do you know what I mean?
21:41
Whereas if you're a small company,
21:42
you've got a few pissed off customers
21:43
that's not the big end of the world.
21:45
So that's kind of concerning investors.
21:47
Why has he stepped down?
21:49
There's also been a criminal investigation
21:51
into some kind of billing fraud that's been going on.
21:55
So they've been inflating some medical costs
21:57
in a way to get more government funding.
21:59
And there's just, like, there's kind of...
22:00
Because I think also the other thing was
22:02
this is coming off of no research
22:04
and purely what I was told.
22:05
But this particular healthcare company
22:07
is, like, no one for doing anything they can.
22:10
But to get out of paying a claim
22:11
and that was kind of, I think, all led into why
22:16
there was the assassination.
22:17
Because not only is the US healthcare system
22:20
absolutely, like, terrible,
22:22
but this particular company was, like,
22:24
kind of no one for trying to find loopholes
22:27
and any kind of payout.
22:29
Yeah, their recent financial result as well.
22:32
They didn't give any guidance.
22:34
And so people are like, okay,
22:35
you have no idea what the future of your business
22:37
is going to look like.
22:38
There's kind of PR disasters.
22:40
The CEOs just left.
22:41
You've just been done for fraud.
22:43
Like, there's a lot going on
22:45
that kind of makes me think,
22:47
I'm going to stay clear of this one.
22:49
But if you're invested in these and peep 500
22:51
in the ETF,
22:52
you're invested in it.
22:53
Yeah.
22:54
So I don't, I forgot to tell you this.
22:56
So when I was flying through LA,
22:58
I got this call from a family friend
22:59
on my way to the airport.
23:00
Yeah.
23:01
So V, so V,
23:02
make sure that you delete anything relating
23:04
to Trump anywhere that you've got.
23:06
Cause I was like, hold on a second.
23:08
What are you talking about?
23:10
And he was like, I know two people
23:11
that have tried to go through the states
23:13
and have been sent away
23:15
because they've got this enormously
23:18
strict ban on no negative talk about the government.
23:21
IE Donald Trump.
23:23
And it's very, it's very, it's like, is this North Korea?
23:26
Like this is scary.
23:27
It's very kind of China.
23:29
It's very dictatorship.
23:31
It's very dictatorship.
23:32
And I just was like, holy shit.
23:34
Like, and I went on to the Curves Instagram
23:36
of course where we're like,
23:38
well, we've got like a full time podcast
23:39
where we're like, Trump, Trump, Trump,
23:40
suck, suck, sucks.
23:42
And it was literally, I was like, oh my god,
23:43
I had to delete the, at the Curve platform
23:46
Instagram off my personal account and log out
23:48
because I was so scared
23:49
that I was going to be like deported.
23:50
I had a friend that we sent
23:51
to New York last week and she did the same.
23:53
But that I'm sorry.
23:54
Isn't that quite scary?
23:56
Like we're talking about, like freedom of speech
24:00
been taken away from people
24:02
where you can't have an opinion
24:03
if you disagree.
24:04
Like that's terrifying.
24:07
They checked my phone when I was
24:09
hanging out at the border.
24:10
Should we also just maybe context
24:11
as to why you were turned away at the border
24:13
because people might be thinking of growing
24:14
marijuana in New York.
24:15
Marijuana?
24:17
She was legally working in the US.
24:19
I wasn't.
24:19
I, this was, so I'd been to the States
24:21
twice for work and then I'd come home
24:23
and I'd quit my job and I wanted to move to New York
24:25
and I had a leaving party.
24:28
Had a leaving party and everyone was like
24:29
texting me going, oh my god,
24:30
it's fun in New York.
24:32
And I was on a E1 visa.
24:35
Sorry, I was on a B1B2 visa
24:36
which allows you to go there
24:38
interview but just not and have like job
24:42
job interviews but not sign a contract.
24:44
You cannot start employment.
24:46
And so I had a return flight three months later
24:48
and I was like, I've got enough money
24:50
to give myself three months of finding a job.
24:52
If I don't find a job, I have to come home.
24:54
Anyway, they pulled me aside
24:56
when I got to Houston and they were like
24:59
asking me a whole bunch of questions
25:00
and I was so naive that I almost gave
25:01
a bit of attitude, you know?
25:03
And I think that kind of sparked them
25:06
and then you probably felt super again.
25:08
They were like, can you just sit here
25:10
and we just get someone else and talk to you
25:12
and I was like, yeah, whatever.
25:13
And then they bring in this lady and I was like,
25:15
I think in this it's a lady, I thought like,
25:17
oh, she'll get it, she'll understand.
25:18
I sat down, arms crossed and it was like, you know,
25:21
kind of really similar piece and she said,
25:23
uncross your legs, uncross your arms,
25:25
look at me when I'm talking to you.
25:26
And I was like, holy fricking Jesus.
25:30
And I was like, I'm fucked.
25:35
But it was so, I was guilty.
25:37
Like there's no, and there's no proof of guilty.
25:39
I was guilty from the get-go.
25:40
And then all the messages, they called my friend
25:41
and they're like, yeah, she's moving to New York.
25:43
And so I was, but I'm not on this visa,
25:46
but they just didn't, anyway.
25:47
And it was the day that Trump got into power
25:50
and put a ban on to like countries like Iran.
25:53
So the airport was absolute chaos.
25:55
Like I shouldn't have flown.
25:56
But anyway, huge learning experience
25:58
and was on the next flight home.
25:59
And then, you had police
26:02
or like taking you on the plane, right?
26:03
Yeah. That is so scary.
26:05
Can you imagine?
26:06
I was like, I wonder if people think I'm like,
26:09
famous or like.
26:13
That's what you thought.
26:14
I would have been like people think I'm the murderer.
26:16
I was getting on the New Zealand flight.
26:19
If you saw someone being escorted by police
26:21
on an New Zealand flight, you would be like,
26:23
what?
26:24
You didn't make it into like the paper or something.
26:26
And the police like, New Zealand.
26:28
Absolutely love them. I sat down.
26:29
It was the first time I'd actually had some
26:32
ounce of respect or like empathy.
26:35
And this lady, what's she got her name?
26:36
She was like, he's a box of tissues.
26:38
He's a bottle of water.
26:38
Like, we have to take your passport until you land.
26:40
I'm like, I'm not jumping out of the airplane halfway.
26:43
Like, anyway, I was like, yeah, I've wanted to learn.
26:45
She was like, you know, if you need anything else.
26:47
And I just, I just bought for the next 13 hours.
26:49
Yeah, did you cry at the whole island?
26:51
I had no tears when I got home.
26:53
And I remember, it's just so off to work.
26:55
But I'm really into it.
26:57
Really into it?
26:58
I remember I got home.
26:59
And the worst was my parents, just the face is going.
27:05
And the arms.
27:05
So I feel sorry for you, face.
27:07
Yeah.
27:07
And like the last time that saw me, I was sitting off
27:10
on my dreams.
27:11
Shit.
27:13
That was a real life pivot.
27:15
Why just never had a plan B?
27:16
That was my plan.
27:17
I was going to New York.
27:18
It was going to like work on Wall Street.
27:19
Amazing.
27:20
And imagine if we could say that Harris used to work on Wall Street.
27:24
Yeah.
27:25
But the awkward thing was then
27:26
interviewing, emailing all the interviews I had lined up,
27:29
saying, I'm so sorry.
27:30
I have been deported.
27:34
I was like, but I'm going to work it out.
27:36
It's fine.
27:36
Let's have the second interview.
27:37
It's fine.
27:38
I just let us know when you get here.
27:39
And I was like, what am I seven years later?
27:41
So anyway, the point here is you don't really want to be,
27:45
well, the point is that the US is turning into North Korea.
27:48
Yes.
27:48
And, you know, flying through there is actually Hunterskiri.
27:51
Can I get something out of this?
27:52
If there's any lawyers that want to help me?
27:54
Yeah, yeah, yeah, pro bono.
27:56
Pro bono.
27:58
We'll give you a shout out on the podcast.
28:02
Anyone that works in Homeland Security.
28:08
Oh, it's quite funny.
28:09
Yeah.
28:10
I do think it's one of your best stories.
28:12
Like the fact that you've been kind of
28:14
denied access to the United States.
28:15
I sort of love it.
28:16
Yeah.
28:17
Good story.
28:18
Lassie.
28:19
And moving on.
28:21
There's a few things I actually really love.
28:23
Victoria's secret.
28:24
They've had obviously another company that's been
28:27
a bit of a PR disaster over the last few years.
28:30
They've got a new CEO and she's a female, thank goodness.
28:35
Hopefully to turn the company around.
28:37
Why have they been in what's been happening?
28:39
The last few years, is it just the idea that
28:41
that's what a typical woman should look like?
28:44
And it means sitting around a board table.
28:46
It's kind of the barbie's in real life.
28:48
Yeah.
28:48
And it's like, this is what he runs aspiring to look like.
28:51
Anyway, it hasn't done very well lately.
28:53
And there has been an investor that has been
28:57
so sneakily buying shares.
28:59
Oh, just, you know, when we were talking about like,
29:01
you can buy shares in you to a certain threshold
29:03
and you have to make a takeover for the company.
29:05
So he has been, I don't think that's so fun.
29:08
Like, oh, here I am.
29:09
Like, sneakily buying shares.
29:10
And then I'm like, hi, I'm taking over the company.
29:12
Yeah. It's like, who is it?
29:13
Who is it?
29:13
And so if you all right, it's like, hi,
29:15
I'm going to own it for a second.
29:17
Here I am.
29:18
Hi.
29:18
Oh my God.
29:19
Okay, Ryan.
29:20
Yeah.
29:20
Who is it?
29:21
So his name's Brett Blundy.
29:22
And he owns.
29:24
He's a very, very well-known Australian retailer.
29:29
And he started Levisa, the jewelry company.
29:34
He owned adeas, the furniture company.
29:37
Quite interesting brand.
29:38
So he's actually had quite a, he's got such
29:40
feminine approach to business or like ideas.
29:43
And he did a lot in Australia.
29:45
And now he's moved to the US.
29:46
And he is doing a lot in the US.
29:48
Like, when I read this headline, I was like,
29:51
if he's going to take over Victoria's Secret, I want to.
29:53
Really?
29:53
Yeah.
29:54
Wow.
29:55
Okay.
29:55
Interesting.
29:56
He's just one of those operators who's just
30:00
found his niche, which is retail and just finds a job.
30:03
And runs with it.
30:04
And he's obviously seen something in Victoria's Secret
30:07
that he likes, but it's just not working
30:10
quite as well as it could.
30:12
It's got potential.
30:13
Well, it's sort of like if you look at how well Skims is doing
30:15
and other big, like lingerie brands,
30:18
there is a huge market for it.
30:19
But yeah, Victoria's Secret is kind of,
30:22
I mean, I've got a Victoria's Secret Sports Bar
30:24
that has like Victoria on the front.
30:26
And that used to be so cool.
30:27
And I used to love it.
30:28
And I remember when I was,
30:29
they actually must've been the last time I was in the US.
30:31
I found a store and I went in and I got so excited.
30:34
I went my Victoria, you know, sports bar proudly.
30:36
Now if you can see Victoria underneath my shirt.
30:39
Yeah, you're like, oh, we're another shirt.
30:40
Oh, we're another top.
30:41
Yeah.
30:42
But what the company has done is they've adopted
30:47
what's called a poison pill.
30:49
And that's dramatic.
30:50
Everything is right now.
30:51
It's really, yeah.
30:52
Everything in finance is so dramatic.
30:55
Yeah, there's blood on the streets.
30:56
We'll give you a poison pill.
30:57
It can't be on its knees.
30:58
Yeah, you're like, okay.
31:00
And what it does is it gives all existing investors rights
31:05
to buy more shares essentially.
31:07
So therefore he's diluted.
31:09
So he's trying to climb up and get to the surface.
31:11
Oh my God, this is quite cool.
31:14
And so the poison pill is to try and get her out.
31:16
Yes, it's to try and get him,
31:18
it's been seen to lower and lower and lower
31:19
so that he can't have any influence essentially.
31:22
What's the comms that the business takes
31:24
to try and tell other shareholders to do that?
31:27
Because if your reaction was like,
31:29
if he's trying to buy it, I want to.
31:30
How would they spin that in a different way?
31:32
Well, the board would be put forward like a strategy
31:34
of how they're going to turn it around.
31:36
And like, this is what we've got in places.
31:37
How it's, you know, we're already tracking.
31:39
That's already improving like almost trust us.
31:42
Right. So they're trying to be like,
31:43
don't, don't let.
31:44
Brings make his way up the ranks.
31:46
But we've got it covered.
31:47
Yeah, yeah, essentially.
31:49
Yeah.
31:49
But what sort of skims?
31:50
It's funny you mentioned skims
31:51
because that's been one of the biggest
31:52
impacts on Victoria's secret.
31:54
Oh, I'm not surprised.
31:55
And yeah, the tariffs.
31:58
There's been yeah, they've had really struggling sales
32:00
for a long time.
32:02
Do you know, I've got a really controversial view
32:05
on skims after having tried them for the first time?
32:08
They're too thin.
32:09
I don't like the material.
32:10
I don't know.
32:12
I'm like, I love it.
32:13
Yeah, you were banging on about how good they are.
32:15
So I bought so many pairs.
32:17
And now I'm like, I don't know if I like them.
32:19
I can't try them on.
32:20
Like, or you can and self-richism.
32:22
But they've got quite a small range.
32:23
I just don't think there's enough there.
32:25
They're kind of like not underwear.
32:27
I love that though.
32:28
Yeah, anyway.
32:28
Yeah. So anyway, it's just an interesting thing
32:31
for the board to do.
32:32
They're obviously very, very nervous
32:34
that he's going to get a controlling stake
32:36
and buy, you know, and go for a takeover of Victoria.
32:39
Or not even a takeover.
32:40
He might just be like, look, I want a board seat.
32:42
I've got 15% of the shares.
32:44
I deserve a board seat.
32:45
And then he can dictate the straight of G
32:47
and it can create some frictions at the board.
32:50
Because obviously you've got one side of the board
32:52
that wants to do one thing.
32:53
You've got him wanting to do another.
32:55
Like, this is like why capital markets,
32:58
like the stock market exists.
32:59
So that, you know, your shares are available to the public.
33:02
They should, if you're underperforming,
33:04
let someone else have a go.
33:06
Do you know what I mean?
33:06
Don't come out with this strategy.
33:09
Just do a good job then.
33:10
Is kind of my thinking.
33:12
Otherwise, someone else will come along
33:13
and have another shot.
33:14
Have a better shot.
33:15
That's part of why you have to keep your share price growing
33:18
and growing and growing.
33:18
Otherwise, your share price falls.
33:21
People get a bit interested because it's, you know,
33:23
on its knees, because the sharks are circling.
33:27
There's blood on the streets.
33:29
And so this is why investors put good people in place,
33:33
like the board and the CEO to grow the business.
33:36
And if you're not doing that,
33:37
step aside, let someone else do it.
33:40
Okay, so watch the space.
33:42
Watch the space.
33:42
Yeah.
33:43
If it'll be, it's kind of interesting to buy shares
33:45
at times like this, I think,
33:47
just to see what happens.
33:48
Yeah.
33:48
Like, not lots.
33:50
You wouldn't go in.
33:50
I mean, it's funny because I would be like,
33:52
a toy secret.
33:53
But now I'm like, oh, yeah.
33:55
So if you want to invest a long side,
33:57
brick blundie, buy it on trading platform.
34:01
Oh, really?
34:01
Yeah.
34:02
What is the, what's the, um,
34:04
ticker?
34:05
The ticker for anyone that doesn't know is like,
34:06
kind of like the label number plates.
34:08
Yeah.
34:09
Yes.
34:09
I love that.
34:10
I love that.
34:11
V, S, C, O.
34:13
Let's go.
34:14
Let's go.
34:15
Also, lastly, inflation in the UK is gone up.
34:19
So this is what we've been talking about for a few months though,
34:23
like the idea of Trump and tariffs and like,
34:25
is it going to affect inflation?
34:27
Is it happening in the US and other parts of the world or only the UK?
34:30
Well, the US is still at 2.3.
34:32
So UK is at 3.5.
34:34
So, so the UK is actually the highest right?
34:37
Yeah.
34:37
Um, and it's not driven by tariffs yet because it was April.
34:41
So like, we're probably starting there.
34:43
Also, like the UK is the best place in terms of these tariffs.
34:46
We're probably see like deflation because we're not deflation,
34:49
but just not inflation going up as much.
34:51
Because we get all, we've got such lower tariffs
34:54
than everywhere else in the world.
34:55
And we've just signed a UK US trade agreement as well.
34:59
Which means we've probably one of the best
35:01
position countries out of all of this.
35:03
Shit, yeah.
35:04
Woo!
35:05
Go to the UK.
35:06
Yeah, that's great.
35:06
So it's good for one thing.
35:08
Is what is inflation everywhere?
35:10
Like, is inflation at a pretty normal rate?
35:12
Most parts of the world?
35:13
Two and a half in New Zealand.
35:15
About 2.9 in Australia.
35:16
So yeah, they're all in that kind of...
35:18
It's pretty low, right?
35:19
Yeah.
35:20
But the US is 2.3 and that's, there's a real risk that
35:24
the next few reporting inflation figures are going to be
35:28
up and up and up and up and up.
35:29
If that's the case, if inflation is starting to creep up,
35:32
what is the first thing you would think to be doing
35:35
with your money?
35:35
Check my savings are growing at a higher rate than inflation.
35:41
So I put, have as little as possible
35:43
in my transaction account, always.
35:46
And I've got any money in my emergency fund
35:48
or savings account or a term deposit.
35:50
It is growing at at least 3.5% of the UK.
35:54
Which it is.
35:54
Oh, shit, mine's only just over that.
35:57
So essentially, ah, because it sounds quite good when you're like,
36:00
oh, my savings are growing at 3.8%,
36:02
but it's like, yeah, inflation's 3.5,
36:04
then you're just keeping up.
36:06
Yeah, exactly.
36:07
Okay.
36:07
All relative.
36:08
Got to look at it.
36:09
Relative to inflation.
36:12
And if you're in New Zealand,
36:13
it's got to be above 2.5%.
36:14
Like, honestly, I'm having a homey Sips in moment
36:17
and all I can think of is a maple.
36:19
A maple back in pastry.
36:20
Oh, like, for some reason, I can see...
36:22
I've just lost my hand, yeah, yeah.
36:24
Did you buy one?
36:25
No, I'm so hungry.
36:26
I sort of secretly hoped you were going to buy me one.
36:29
I'm actually on this new high protein.
36:31
Oh, gosh.
36:32
No, I was like so sick of waking up,
36:35
more tired than when I go to sleep.
36:37
And I was like, what is wrong with me?
36:38
Like, and also, on my holiday in Palmer,
36:42
like just being absolutely ravenous
36:45
that as soon as we sit down at the restaurant,
36:47
I have to order something before we've ordered drinks.
36:48
Like, just so consumed by food.
36:50
And I was like, I'm just constantly thinking about food.
36:53
I'm hungry.
36:53
I'd be at work thinking,
36:54
when can I eat lunch?
36:55
Like, it was just so, anyway.
36:58
And I had this epic session with Emma Wiley,
37:00
who's got L.O. well-being.
37:02
Oh, yeah, yeah.
37:02
Oh, my goodness.
37:03
Like, even like the next day,
37:05
just changing your breakfast,
37:07
have high protein.
37:08
And I know some people might be thinking that.
37:09
What is that?
37:10
So, like, you'll get with blueberries
37:12
and, like, protein powder or something.
37:14
And then having another breakfast,
37:16
which I'm like, more food, yeah.
37:19
And, like, of eggs and avocado.
37:21
And, you know, like, just...
37:23
So, your whole thing is high protein.
37:24
High protein just keeps you full of longer.
37:26
And then, honestly, the last few days...
37:28
Has it been better?
37:28
I've been like, oh, it's lunchtime.
37:30
You know, rather than being like hanging out...
37:31
What about energy levels?
37:32
Energy levels, really.
37:34
Haven't been waking up as tired.
37:35
Okay.
37:36
Yeah.
37:36
I love this.
37:37
Yeah.
37:38
Okay, I'm so hungry.
37:40
I bought an egg yesterday to the podcast show.
37:43
Oh, I'm gonna pass it over to Emily.
37:45
She can tell the egg show.
37:45
You brought eggs in your bag and they leaked everywhere.
37:48
We got to the podcast show.
37:50
Also, shout out.
37:50
That was the best podcast show in the world.
37:53
It was so good.
37:54
Um, I just look over and Sophie's, like, hunched over.
37:59
Feeling an egg, like, getting it everywhere
38:00
and honestly, she ends up with just the yolk.
38:03
Oh, no.
38:04
Oh, no.
38:04
And then she just, like, puts it in the bin
38:06
and then whips out another one
38:07
and does exactly the same thing.
38:09
Okay.
38:09
And my defense, you know,
38:10
and you accidentally underboil an egg
38:11
and then the skin sticks to the outside.
38:13
So, when you peel it, all the white comes off.
38:15
That's what was going on.
38:16
No, it's...
38:17
If you put them in the fridge
38:18
and then you boil them from cold.
38:20
If you boil them from room temperature,
38:22
the shell comes off.
38:23
Are you joking?
38:24
I know.
38:25
When I found that out, I...
38:26
That is the best hack you've told me.
38:28
Yeah.
38:29
Oh, I feel like we've covered it all.
38:30
Yeah.
38:31
You know, international news,
38:32
egg news,
38:33
how to up your protein and your diet.
38:35
It's been over.
38:36
Yeah.
38:37
Wow.
38:37
Good luck.
38:38
What a day.
38:39
The Anne lingerie.
38:40
I'm so hungry.
38:41
Can you hear my stomach grumbling?
38:42
Let's call it a day.
38:43
Yeah.
38:44
Have a great week, everyone.
38:45
Have a great week.
38:47
And we will see you next Monday.
38:49
Actually, we will be seeing you next Monday.
38:51
However, this Wednesday,
38:52
we're doing an archive episode with Amy Fraser.
38:54
We're going to re-release that.
38:56
Do you remember that conversation?
38:58
It was all about, like, motherhood and, like,
39:00
physical violence.
39:02
It's actually...
39:02
It was a really good time.
39:03
Bouncing your family and your career.
39:05
Oh, and remember, she was the first person
39:06
that started calling your family as a little asset.
39:09
Oh, yeah.
39:09
Remember, she was like,
39:10
your kids, your raising,
39:11
tiny little assets running around,
39:12
and I was like, I love that.
39:13
Anyway, that episode is being re-released this week.
39:17
Thursday morning, New Zealand time.
39:19
Wednesday evening, UK time.
39:49
See you next Tuesday.
39:50
Well...
39:52
See you next Tuesday.
39:53
I mean Monday.
39:55
No, actually, though.
39:56
New episodes out every Tuesday.
40:01
Okay, quickly, the curve was created
40:02
to empower and educate you about investing,
40:04
but we are not financial advisors.
40:07
Our platform exists for educational purposes only,
40:09
and it doesn't provide personalized,
40:11
investing advice for your individual needs,
40:12
and should not be relied upon to make
40:14
an investment or financial decision.
40:16
And always remember to do your own research
40:18
before making any investment or financial decision.
40:21
We're here for any knowledge and support you need,
40:23
but the final call is always yours.
40:25
And thanks for being here.
40:26
You got this.
40:27
Yeah, we know you got this.