Latest / The Curve / TCW31 - Disney’s getting greedy, China’s deflating and everyone’s living with their parents.

Transcript

TCW31 - Disney’s getting greedy, China’s deflating and everyone’s living with their parents. · 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 know. This is
• 0:19
  podcast episode three of the morning. So we've hit to mix it up and so I was having a bit of
• 0:24
  hair drama. She looks like little house on the prairie. Oh do I though? Because you told me I
• 0:28
  didn't. You look great baby. I actually was thinking I might tell you this I was going to tell you
• 0:33
  about this the other day and then I thought I'm going to save this for the podcast actually.
• 0:37
  So when you say that always freaks me out. Oh sorry I'll stop doing that then. I'll tell you
• 0:42
  what it's about so that you can relax because it has nothing to do with you. It's my own dating
• 0:46
  drama. So self-absorbed. Yeah. No it's nothing to do with you. It's nothing to do with you. Yeah.
• 0:51
  So remember a few weeks ago I said to you do you think it's a bad idea to live with someone
• 0:56
  you find attractive because I went to see a house and I was like he's kind of cute. And then I was
• 1:02
  like go for it baby. Go for it. Yeah. Yeah. Yeah. Yeah. You were like, my it's a disrespect you get.
• 1:06
  So anyway. He messaged me saying, hey Sophie just letting you know I've chosen to go the guy
• 1:14
  to live with. Yeah. So I was like, oh like okay call whatever. Anyway then. Well you're like
• 1:19
  battered. I'd love to go for a drink with you. So don't wait for it. No wait for it. So then
• 1:24
  so this is basically I've gone to meet him through something called Spear Room which is it's
• 1:29
  it's kind of like I don't know trade me for flatmates whatever you know. So then he messaged me
• 1:34
  two weeks later going should have gone with my gut and chosen you for the row. And I was like
• 1:42
  interesting. Should you have. And then I replied saying, well I mean it's probably a good idea
• 1:46
  because it's never a good idea living with flatmates you're attracted to. I was like, who cares?
• 1:50
  Oh my god. I'm never going to see him. Well I was like I'm never going to see him. So like
• 1:54
  he had so much guts when it comes to this stuff. No. I wouldn't normally but I was just like,
• 1:58
  oh whatever. I'll just go for it. And then he replied going, yeah I was advised not to
• 2:03
  pick you. And I was like, oh what do you mean? And he was like, oh just friends that have chosen
• 2:07
  hot flatmates. And I was like, he's been some hot dude. So anyway he was like, I've obviously got
• 2:14
  a lot of making up to do like too fancy meeting up. And I was like, fun. This is so fun.
• 2:20
  This has turned into a day. So anyway I was like, fun. We're going on a date on Sunday. This is so
• 2:25
  great. And then he messaged me on Friday night and I'm like, I'm dancing at Fold. This random
• 2:30
  apparently quite cool nightclub on Friday. But I'd gone to the Barbie movie and I was just not going
• 2:35
  out. And there was a tiny, tiny part of me that thought, man I'm full of together.
• 2:43
  And I messaged my friend and I was like, what's this place like? She was like, you need a hundred
• 2:48
  fingers and an ear tag. It's huge. It's a crazy big wild club. So I was like, all right, it's a
• 2:53
  no go for tonight. So I just didn't reply. Anyway, I get a message from him the next day saying,
• 2:58
  sorry I'm too much over. No, I had a revelation last night. I'm going to have to bail on our date
• 3:04
  on Sunday. Sorry, Sophie. End of comms. And I just thought, what was your revelation? And secondly,
• 3:12
  dating is so brutal that you can't have a relation. Yeah, I was like, what are you talking about?
• 3:17
  But you don't even know me. Yeah, I was like, brood. I was like, never to date a blonde girl.
• 3:21
  I don't know. I don't know what it was. But I was kind of gutted. I was like, really excited to go.
• 3:25
  Give, give, give me a bit more than that, I reckon. You know, like he, like it was just sorry,
• 3:30
  Sophie. Yeah, had a revelation. Sorry, Sophie, that was it. So I was like, what do I do? Did you
• 3:35
  reply? No, but like the girls will like, don't reply. What are you going to say? But I have a good
• 3:39
  life. But I was just thinking shit, it's brutal. Like until you sit down on a date, you kind of have
• 3:45
  to assume they're going to bail. Yeah, which is such a pessimistic mentality. But everyone's sort of
• 3:50
  been saying that to me lately. So I was like, all right. So unless you're on the date sitting there
• 3:55
  and you can see them in front of you, you're like, you're not bailing. You assume that it's not
• 3:59
  happening. Yeah. That's how I mean, have you had that happen where you're kind of like people
• 4:03
  just bail their friends into and you're like, oh, no. Yes. What? No, it's just like, yeah, I've
• 4:18
  had people bail, but it's like, it's more also, I feel like I'm pretty bad. Like I'm just kind of
• 4:25
  get all the way. It kind of sounds like a tease, but like get all the way to the point of like,
• 4:30
  yeah, let's catch up for a drink. And then they're like, cool, how about seven at this place?
• 4:33
  So I'm just like, no response. You know, I like. So you're basically the spare room guy in this
• 4:38
  situation. Yeah. Yeah. See, this is exactly my point. Guys and girls, doesn't matter what the
• 4:43
  dynamic. Yeah. Everyone is a flake. Yeah. And dating, you're putting aside time for a stranger.
• 4:49
  I think because you're a stranger. Yeah. So you have no, there's no responsibility
• 4:53
  to be a good human. Whereas if it was like a mutual friend or something, I wouldn't because I'd
• 4:56
  know, because I know them. Do you know what I mean? There's, they're not a stranger. So it's,
• 5:01
  yeah, it's a hard one. So the blind dating, anyway, sorry, I just, I feel like I needed to vent
• 5:05
  that. This is not a dating podcast. No, this is not a dating podcast. I find it's podcasts.
• 5:10
  Yeah. So if this is the first time you've listened, do you know what the hell is going on?
• 5:14
  Have I true to the wrong channel? Am I in the wrong podcast? You aren't. It's just that I
• 5:18
  needed a safe space to vent. Yeah. And this is a very safe space for that technical producer,
• 5:23
  just sitting across from the room. Hey, Gary. What do you think though? Like, was that your
• 5:30
  content? No, no, no, no. What would it be? Oh, fold is a good club. Maybe you should have
• 5:37
  gone. So he's cool. Maybe you should take the app you take in the penguins and gone. Damn,
• 5:41
  really? Oh my god, that sucks. So this week, Disney announced that they're raising the prices
• 5:49
  of Disney plus, yeah, subscribers. Yeah. Okay. So this is the second increase they've had in 12.
• 5:55
  I'm just having a snack. Okay. I'll eat it off my iPad promise.
• 6:07
  I'll just have a sip of my coffee then if we're just going to have a little ad break in this
• 6:10
  because this is a really long episode, you know? I did this little thing to do. I was drinking.
• 6:18
  Anyway, okay. So they're raising the prices of Disney plus. This is a second increase they've
• 6:22
  had in the last 12 months. And so the monthly cost is going to jump from around 11 dollars to 14.
• 6:28
  And so this is kind of similar levels to what Netflix and Amazon Prime are playing.
• 6:35
  Oh my god, Amazon Prime are paying a charging. God, this is our third episode. I am struggling.
• 6:40
  But this is nearly a 30% increase. So years, years, years, we've got inflation. But like,
• 6:46
  come on, Disney, 30% increase. This is quite wild. But I was actually thinking about this and I was
• 6:52
  like, you know what, this is probably the whole strategy will suck them in at a really low price,
• 6:57
  then gradually turn up the dial and they won't know. That's my strategy. That's what I think
• 7:02
  Disney Australia is. I wonder if they'll see a drop off. You probably would, would slightly.
• 7:08
  I think people also just lazy canceling subscriptions as soon as you're in. Like, I signed up for
• 7:14
  what's that calm app or maybe it was in sight time, a for meditation. And there was a seven day trial.
• 7:20
  And I thought, all right, I'll just do a quick little seven day trial and then cancel it. I forgot.
• 7:25
  And then I was charged $130. I always do it. Yeah. Don't laugh at me like you haven't done that before.
• 7:31
  No, I was just thinking of that time when, you're like, oh, should I upgrade my hinge?
• 7:35
  Okay, sure. There goes $150. I know. I'm such a sucker. The apps I've always paid for.
• 7:41
  Yes. No, but that's very true. And I think it's probably part of the strategy to be honest.
• 7:44
  They'll get you in at a low price, have really good content, then you stay and then for you,
• 7:49
  or me, you know, like a 50 cent or a couple of dollar increase, we probably don't really notice it.
• 7:54
  But if you multiply that by millions of millions of people, that's a big revenue injection for Disney.
• 7:59
  So how much was their subscription? How much is it now? $11? It's gone to 14. It's quite a jump,
• 8:04
  but yes. But anyway, the stock rose on the news, which means that investors were like,
• 8:09
  oh, we like this. This is happy. This is going to be interesting. I would have thought that people
• 8:12
  would be like, oh, they're struggling. They have to increase their subscription. Therefore,
• 8:16
  they don't, you know? No, I think you'd look at it the other way and go, if they were struggling
• 8:20
  from a competition point of view, they decrease it. Yeah. Okay, interesting. Yeah. And they've
• 8:25
  obviously got a lot of good content, which means people will stay because you might be like, oh,
• 8:30
  no, I'm not paying. And you cancel. And then they bring out Barbie 2.0. And you're like, oh,
• 8:34
  gosh, okay, I'm signing back up again. So what's their stock at the moment? So it was up 3% this year
• 8:43
  versus Netflix, which is up, you know? A lot. Yeah, nearly 50%. So they are definitely lagging.
• 8:50
  But what's a stock costing? How much is it to buy one stock of Disney?
• 8:54
  I don't know. Google, you always ask me these questions. It doesn't matter because you can buy
• 8:57
  past what she is. Yeah, but I just want to know how much it's worth. Okay. Hold the line. Caller,
• 9:02
  $91.70. And do you mind saying what Netflix is to? I just want to come here. Yeah. $430. Whoa.
• 9:10
  That means nothing, remember? Why? Because it's all relative. You're going to look at the price
• 9:15
  in regards to the earnings. You might need to give me more than that. Well, I feel like
• 9:19
  it's exciting on the podcast is now the PE ratio. Oh, this is a curve classroom conversation.
• 9:24
  Yeah. Yeah. Yeah. Yeah. Yeah. If anyone's interested in this, the curve classroom is starting
• 9:27
  the first of September. Yes. Yes, dollar value. Sorry. I'm just trying to look like it. So we're
• 9:32
  going to give me a second. Now it starts on the first of September and you'll be learning everything
• 9:37
  you need to know about how to invest and create your own portfolio. And we do go into the PE
• 9:41
  average and like all that. It's definitely not a curve weekly conversation. Yeah. But if you do
• 9:46
  want to sign up to the curve classroom, we've got a hundred dollars off. So now you're on board,
• 9:48
  are you? We've got a hundred dollars off for you and a friend. Yeah. We do actually. That's
• 9:53
  quite a good deal. And the link is enough. Okay. Stop it. Continue. Sorry. Sorry. Sorry. We're
• 9:57
  getting excited. I think they were delirious. So yes, Netflix has done a lot better than Disney.
• 10:01
  But they're both companies like we mentioned a few weeks ago, seeing the benefits of these strikes
• 10:06
  in Hollywood. So they've both got a lot of cash. They're not spending money on content because of
• 10:12
  these strikes, which I'm not saying the strikes are good, but I'm saying that they've got a lot of,
• 10:17
  I guess, cash that they haven't used. So that's probably why investors liked the result as well.
• 10:22
  So because people are on strike, they're not producing content. They're not paying for actors
• 10:28
  and writers. So that means that we are delay and there will be a whole in terms of content.
• 10:34
  So that is a risk. We also, we put this in our newsletter, but I thought it was really
• 10:40
  interesting point to bring in here as well about WeWork. So WeWork has had a bit of a tough run
• 10:48
  lately. So WeWork is like a co-working space. They're all over the world. All over the world.
• 10:54
  Yeah. Not in New Zealand though. No. But they're kind of like, they're quite nice. They're not,
• 10:58
  they're not super budget shit workspaces. They're actually quite cool. They're like young,
• 11:03
  kind of like if you think like start up tech, you know, people going around on skateboards and
• 11:09
  you know, they're very fresh young. I worked out of there for about six months when I was
• 11:14
  based in London a few years ago. And it was actually quite fun. They have Friday drinks.
• 11:18
  You know, so if you're working by yourself or for yourself, you get a bit of a community.
• 11:22
  Yeah. Yeah. But very kind of American feeling. Oh, really?
• 11:25
  Yeah. Interesting. So is it an American company?
• 11:27
  Yes. Yeah. So they first tried to IPO in 2019 and failed. And this was due to the CEO who's
• 11:35
  a bit all over the show. He's a bit extravagant. So IPO is when a company lists itself on the stock
• 11:41
  market. So it's essentially companies are private as a new can't invest in them until they IPO.
• 11:49
  So an IPO is basically like, hey, everyone, you can now buy shares enough. The public can now buy
• 11:53
  shares. Sorry. Yeah. Yeah. Yeah. Yeah. So if anybody has watched WeCrashed? No. Oh, it is so good.
• 12:00
  What is it? And it's the story of WeWork. And it's like there with these.
• 12:03
  There's a docker. Yeah. No, it's not. It's like Anne Hathaway and Jerry Leto. And it's so good.
• 12:09
  So good. Because it's such a wild story. Wow.
• 12:11
  That he was the serial entrepreneur and he tried all these different things and got turned down
• 12:16
  and turned down my vests. And then he came up there, dear, of WeWork. But it's almost like this cult.
• 12:21
  And they had like WeWork festival. And like it was quite wild. Wow.
• 12:25
  Yeah. It was such a big deal. And everyone wanted to work there. And then it kind of turned to
• 12:29
  a bit shit. And everyone was working to the bone, had all these really high staff turn over.
• 12:33
  Young people, you know, just hating it. A real party culture. So it's a really fascinating
• 12:39
  watch. If you obviously didn't be able to stick for Hollywood. But you know, so
• 12:43
  they didn't IPO in 2019 because the CEO was so crazy. So they tried to try to turn down.
• 12:49
  It just failed. Like you need to have a lot of demand for investors to, you know, to IPO.
• 12:54
  Anyway, and then they tried again in 2020 and they ended up listing. Now they listed at $11.40
• 12:59
  a share. So just remember that. And since then, so we've had a pandemic. So it listed in 2020,
• 13:07
  which was pretty much like bad time. Yeah. So everyone is working from home. So small businesses
• 13:14
  are struggling. So if you're self-employed, you're not paying for a WeWork. You're doing it.
• 13:19
  You're going back to the original. Yeah. Exactly. So they were probably the hardest in terms of,
• 13:25
  you know, one of the companies most impacted by a pandemic. And their stock price now is 20 cents.
• 13:33
  So the 11 something to be 40. I told you to remember that. I tried. At least I remember the 11
• 13:38
  month. That's so bad. Yeah. So and they've been saying, oh no, we're going to turn around. We
• 13:44
  never can get back to work and get back into offices. You know, we're going to have this turn
• 13:48
  around story and it's been nearly four years now. So 21, 22, 23, you know, we nearly
• 13:55
  20, 24. And they still have it managed to do that. So they've kind of now put up this red flag,
• 14:01
  white flag red flag of yes, we need help. We're struggling. And from an investor's point of view,
• 14:09
  you never want a company to be like help or we aren't going to survive or because that means
• 14:15
  you're the share prices. I mean, it sounds as though if you share prices zero, it's not exactly like
• 14:20
  going to hunt in how much worse can it get? Totally. Yeah. So I mean, yeah, some people might look at
• 14:25
  this and go, I mean, it's 20 cents. It's falling from a 1140 to 20 cents. It's a bargain. But
• 14:31
  so what would it need to come back? Would it, does it need to be bought out? Yeah. So it could be
• 14:35
  taken private. So this has been someone comes in a buyer of the shares. Like an Elon Musk with Twitter.
• 14:39
  Yes. Yeah. Yeah. So they, so someone might come in and say, Hey, you know what? We'll give
• 14:44
  all investors 40 cents. So you're making a hundred percent return. So it could be a good time to buy
• 14:50
  those investors quite acquired. Yeah. Or they go into liquidation and the banks take hold of it.
• 14:57
  And they just, do you get paid out as a shareholder if that happens? You get paid last. So the debt,
• 15:02
  yeah, debts get paid first. And that's a bit more a shit show. Yeah. But yeah, some people probably
• 15:06
  would be buying, we, we work shares now in the hope that they get taken out. But it's not really
• 15:11
  a good investing strategy because they might not. So yeah. So we interesting to see what happens.
• 15:15
  I kind of want to step dock on it. It's a really good show. What's cool? We crashed. We crashed.
• 15:20
  Which is kind of like, yeah. So yeah. And other news as well. So there's a really interesting
• 15:28
  step that they came across and a lot of the other step that young adults in Britain are now giving
• 15:35
  up on property. So moving up on owning property and they're living with appearance for much later.
• 15:41
  Oh, that's much later in life. Yeah. Definitely notice. Yeah. And so because people are just getting
• 15:45
  so priced out of the housing market. Yeah. And I must admit being here, it's definitely very
• 15:52
  talked about. You know, like it was talked about, I guess, everywhere in the world or a lot of
• 15:56
  places in the world where mortgage rates are going up, house prices are going down. But I feel like
• 16:00
  here it's even more so. So is it essentially the idea that people are like, I'm not going to bother
• 16:07
  buying a property? I can't. Yeah. So one and 10 people, the eight between age between 30 and 34
• 16:14
  are living with appearance still. How many? And there's 30s. One and 10. I'd be rude.
• 16:20
  So I think this is quite fascinating. If you think back in the day, you know, people were
• 16:27
  getting married when they were like, between 20. Yeah. And now we've got 30 to 35
• 16:32
  girls that are still living at home. You know, that's, and makes me feel better about my life.
• 16:37
  I will be honest. Yes. Yeah. I mean, it's like everyone's struggling. It's not just me. Yeah. And
• 16:42
  this is up 10% from, from a decade earlier. So it is getting worse and worse and worse. But at what
• 16:48
  point does that reverse? Do you know what I mean? Okay. Like at what point does that figure start
• 16:53
  going down and people start moving out of home earlier? When it's less expensive to live at a
• 16:58
  home. Yeah. But when does that happen? Like, you know, that's got to be something. You're the
• 17:01
  finance expert. But that's got to be at some point. You can't, we can't be sitting here in 10 years
• 17:06
  time and be like, wow, 45 years. Yeah. Like it's kind of weird. If you think if you're going to
• 17:12
  have 45 or something at home, maybe it'll become normal because it's not expensive. It is. Yeah.
• 17:17
  Yeah. Very true. So if you're alright, very true. So you know, oh my gosh, I'm going to butcher
• 17:22
  this leocatane. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Yeah. Oh, no, sorry. Yes. I
• 17:30
  was thinking a different one. Yeah. Yeah. Yeah. So there in talks to be possibly taken over. So
• 17:36
  they're going to be bought for about six and a half billion dollars. So if you took over a certain
• 17:40
  threshold in terms of your share holdings, usually about 20%. You have to make a takeover offer,
• 17:46
  which means that there's been times that companies that I've worked for in Provisions,
• 17:49
  so the podcast, but you accidentally go over 20% of a company and then you have to,
• 17:54
  like it's like, you want to be at 19.99, 99%. But if you go over 20%, you have to make a takeover
• 17:59
  offer for the whole company. Wow. So in this instance, so in this instance, so this shareholder has
• 18:04
  got a what we call control controlling stake. So it means they've got to that 20%. For example,
• 18:10
  when they've gone, we want to buy the whole company. So then they're now making an offer for
• 18:14
  the business. So cool. They obviously believe, look, if we take this private, we can do a lot more
• 18:19
  with it. You know, we can make a lot more, we can push a lot more changes through and we can
• 18:24
  really make this much better company. But in order to entice the other shareholders to sell,
• 18:30
  it has to be above or well above the current share price. And what's the current share price?
• 18:36
  The current share price, well, it's already gone up. So when you get rumors or sniffs of the
• 18:41
  stuff happening, people buy because they know that yeah. So the share price is up 25% in the
• 18:48
  last week. So it's almost like a main stock. Yeah, it is kind of a main stock. Yeah, the share price
• 18:54
  is at $25. So usually minimum 20% above that is what you kind of need to offer to the price.
• 19:00
  So if I wanted to buy it, I could. But the problem would be if it doesn't, if it doesn't get
• 19:07
  bought out exactly, then that's your price will go straight back down because people will be like,
• 19:11
  oh, you're not getting bought. I'm going to go somewhere else and make money somewhere else.
• 19:14
  So how do you know when to take it out if that's not happening? Well, so this is why you kind of
• 19:18
  do a whole lot of calculations around what the business is worth. What do you think they'll pay?
• 19:22
  What are you? Is this another curved classroom plug? Yeah. So we actually have the curved classroom
• 19:28
  starting. But some people, this is some people's strategy. They're like, okay, no, I think this
• 19:33
  company is going to be bought out. We spoke to someone ages ago who did this. Remember Buffy?
• 19:38
  And she said she bought a whole lot of shares in a company because it was a Fisher MP or something.
• 19:43
  Because she thought that it was going to be taken over. And then she's like, oh, it's not happening,
• 19:47
  pulled her money out. And then it did get taken over. So she made this huge loss. Yeah.
• 19:52
  So it's just you get the opposite. That's right. With Fisher MP appliances when they were
• 19:56
  listed. Yeah. So years ago. And I was like a fresh analyst like could not have been more green,
• 20:02
  like second day in the job. And I was like, I think they've got some really good technology. And I
• 20:06
  think it's going to be, you know, I didn't think they'd be taking over. But I was just like,
• 20:09
  the sheer price is on its knees. Well, you know, I had a sin. And I was like, it's more,
• 20:16
  there's more upside than downside. So there's more likelihood it's going to go up than down.
• 20:20
  Was kind of, I didn't really, I was so green. I didn't really know what I was doing. Yeah.
• 20:24
  And so I pitched it to the team. And I remember this really advanced analyst was like, it's not
• 20:30
  going to do well. Sell your shares. You know, don't invest in it. And I was like, I think I'm just
• 20:34
  going to take the other side of the argument because I can. Oh my gosh. Love this. Yeah. And then I
• 20:39
  yeah, I pitched it to the team and we bought shares. And then it literally got taken over.
• 20:43
  I think with them at the next week. And I was like, this investing stuff is so easy. I
• 20:49
  did you get it? Were you just like the favorite around the author? No, because that was my
• 20:54
  thesis wasn't because it was going to get taken out. My thesis was, it was good technology. But like,
• 21:00
  that was, that was a bonus. You know, it was like, oh, sweet. Okay. We're on to the next investment
• 21:04
  idea. Yeah. And I wanted you with a favorite. Yeah. So that was definitely luck. Yeah. It's,
• 21:09
  you shouldn't be investing based on things being taken out. Yeah. Because you never know when it's
• 21:13
  going to happen. Did you want to quickly mention what's happening in China? Just like a really quick
• 21:17
  over the year. Oh my god. A lot. No. Throwing that in there like thick. There's stuff going on in
• 21:23
  China. When I literally just told you, should I talk about China? I am not trying to claim that I
• 21:28
  knew about it. Do you want to talk about what's going on in China? Because it's really important.
• 21:32
  I read your email and use letter. Okay. Yes. Okay. So what's going on in China is really important
• 21:37
  because China is the second biggest economy in the world. And so when China slows down,
• 21:44
  we all feel it pretty much. You know, a lot of countries that are reliant on China and China's
• 21:48
  growth. And they are seeing the opposite of what a lot of economies are seeing at the moment,
• 21:53
  they're seeing possibly deflation, which is when inflation goes backwards. So right now we've
• 21:58
  got six, seven percent inflation, which has been prices rise about six or seven percent year on
• 22:03
  year, which is really high. That needs to come down to a healthy level of about two to three percent.
• 22:09
  So that encourages people to spend them not too much. China is at zero. And there's a possibility
• 22:14
  that could go negative. So their prices aren't changing at all. So there's no reason for me to be
• 22:20
  spending money in China right now. You know, because I'm like, why it's going to be cheaper tomorrow.
• 22:25
  Yeah. So this is, this is quite bad because it doesn't feel economic growth because no one's
• 22:30
  going to want to spend exactly. And you know, there's a number of economic, like stats and data points
• 22:36
  that are coming out that are, you know, getting worse and worse, there's really high youth unemployment,
• 22:42
  which is never good because you then you get civil unrest, you get, you know, kids aren't in jobs,
• 22:48
  they're not earning, they're the next kind of generation, they're not motivated, they're out on
• 22:52
  the streets, all of that. And exports are falling as well, which means that a lot of other countries
• 22:58
  are going to feel that as well. So there's a lot, a lot, a little, a little, a little bad headlines,
• 23:03
  I guess, or yeah, it's China would be something to watch because if it does get worse, we will,
• 23:08
  you know, a lot of countries will start feeling that, you know, particularly when a lot of countries are
• 23:12
  not in the most healthy positions themselves, we're teaching on the edge of,
• 23:17
  not in healthy positions. So essentially, we need China's economy to be strong because
• 23:21
  that has huge ripple effects throughout the rest of the world. Well, it's huge.
• 23:25
  Cool. Nice. And on that note, Eric, and we wrap it on, huh?
• 23:28
  Yes. If anyone has any funny ghosting stories,
• 23:32
  where people have just dropped off the face of the earth, like we spoke about at the side of the
• 23:35
  episode, please get in touch. Just kind of want to feel better about myself. Same with the
• 23:39
  fact she was didn't share before, but she definitely got ghosted last night.
• 23:46
  In the great episode, Wiki. Thanks for all your info. Okay. Bye.
• 24:09
  Just could you please leave a review because it really helps other people find our cute little
• 24:13
  podcast. And we hope you have a good week and see you next Monday. Bye. Bye.
• 24:18
  So yeah, see you next Tuesday. Wow.
• 24:23
  See you next Tuesday. I mean Monday.