Latest / The Curve / TCW90: Could weight loss pills boost productivity?

Transcript

TCW90: Could weight loss pills boost productivity? · The Curve

0:00
Okay, back before we get started on the curve weekly, I would like your help with something
0:05
and actually every single person listening that's interested.
0:08
So we have recently started working with a PR agency here in the UK and I just had a meeting
0:15
with them and someone from the Sunday Times is writing an article on money and dating,
0:21
post, cost of living crisis, etc.
0:26
We've had the opportunity to share some stats based on how people are dating if they date
0:31
for money and I thought this would be a really cool opportunity to put out a little quiz.
0:35
So we've put one together and put it in the podcast show notes, but basically to find
0:40
out how people feel about dating and money at the moment, obviously a very complicated
0:48
subject, you don't have to be dating or recently dating to weigh in on this.
0:54
It can be just like hypothetically, if you are on a dating app, do you look at it?
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Yes.
1:00
But I thought it would be fun, but before we get into the episode, I'm just going to ask
1:05
you a couple of the questions that are in the quiz we've put together, okay?
1:10
Do you see it?
1:11
Yeah, I want to ask you.
1:13
So these are the questions that you'll find in the quiz.
1:15
If you literally just clicked on the episode, you'll see the link to answer these yourself,
1:19
but do you consider how much someone earns when you're dating in all honesty?
1:26
Remember, this is anonymous.
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So no one's going to go, I mean, you're not anonymous.
1:30
I mean, I'm like, that sucks me.
1:31
You can say pass if you want.
1:33
Yes.
1:35
I've done it.
1:36
Can I explain?
1:37
Yeah, yeah.
1:38
Okay.
1:39
It doesn't come from a shallow place, it comes from a place of like, I have certain goals
1:48
in life that I want to achieve, and I want someone that has similar goals and those
1:52
goals take money.
1:53
And that is all I'm going to say.
1:54
Nice.
1:55
I said, I said, I said, would you refuse to date someone if they aren't below a certain
2:00
amount?
2:01
No.
2:02
Love that from you.
2:04
But I would want to know, it's all about context, you know, like I've had very different
2:10
salaries throughout my life.
2:11
So I think there's times when I won't be earning any income at some point of her
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family.
2:18
You know, there's so many life stages and ages and, yeah, I love that you like to just
2:22
claim it.
2:23
Just claim it.
2:24
Oh, there's so many fun ones in here when I'll ask you one more.
2:28
Do you find yourself drawn to people who are in higher earning careers?
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So if you want a dating app and you were swiping and you saw, I don't know, lawyer, finance
2:39
bro, would you be like a cheeky right or are you think I used to gravitate towards
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people that?
2:47
It's so funny how awkward you are by the way, answering these.
2:50
Some correlation to finance because I come from finance, well, so it's almost like a conversation
2:54
started.
2:55
So much a comment.
2:56
But then it gets to a point that there's some, there are some industries I'm like, yes,
3:01
I'm making generalization, but I'm going to be like, you're a wanker.
3:03
Right.
3:04
So it's like, or, and like, no offense to anyone in these careers.
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But I, and this is, I don't care if you come at me, but no, like real estate, I'm kind
3:15
of like, oh, yeah, lawyer, I'm like, oh, we even have time to date me.
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You know, like I'm making all these like huge swiping generalizations, but that's kind
3:25
of my thought process.
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It's not like purely high salary low salary.
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It's like, oh, that's a huge, doctor even.
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I'd be like, oh gosh, we have even time to date me because it's so hectic.
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You are the busiest person I know.
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So we'd never see each other.
3:39
Yeah.
3:40
So there's things like that.
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Yeah.
3:42
There's a lot of, well, actually, there's not that many, there's one, two, three, there's
3:47
about eight questions, similar to the ones we've just talked about in this quiz.
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If you can answer these, we would love it because it's going to hopefully feature in the
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Sunday Times article.
3:59
Side note, depending on what comes in from this, I actually think doing a whole episode
4:03
talking about dating and money would be really interesting.
4:06
Hmm.
4:07
Like to see what the stats are like, would you date for money?
4:10
What is the percentage of people that would say, yes, first of all?
4:13
And please answer these questions honestly because it'll be really interesting to see.
4:18
Hmm.
4:19
Okay, now we're going to go to the Curve Weekly.
4:22
Welcome to the Curve Weekly, the podcast that keeps you up to date with all of the money
4:26
business and stock market too.
4:27
Brought to you by the Curve's research team, that's the latest insights on what's happening
4:30
in the stock market, companies, other money related news so that you can stay educated
4:35
and ahead of the Curve.
4:36
You can thank us later for sounding smarter than those finance bros you need to know,
4:41
Vic, how was Barcelona?
4:42
Oh, love Barcelona.
4:44
Hola, hola, chica.
4:45
Did you learn anything other than hola, chica?
4:47
Yeah.
4:48
La Quinta, por favor?
4:49
Don't tell me what that is, I think I know.
4:51
La Quinta.
4:52
No, I forgot.
4:53
The bill, please.
4:54
Oh, yeah, yeah, yeah, yeah.
4:55
We're asking for that a lot.
4:56
We're asking for that a lot.
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A lot of Spanish tapas.
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Yeah, no, it was, I loved it.
5:01
It was just nice and warm, you know?
5:02
Like not, should I take a jacket or should I not?
5:05
Rather than here, what three jackets am I going to wear?
5:08
You know, it's freezing.
5:09
I think I could live in Barcelona.
5:11
It's like a sunnier, slightly less chaotic version of London.
5:15
Yeah.
5:16
It's set the crime.
5:18
Yeah, yeah, you do have to be on high alert, don't you?
5:21
Yeah, I was like, hold your bags, hold your phones.
5:24
Me, get to phone stolen once.
5:25
And so no one, no one that you were with, had anything bad happened?
5:29
Yes.
5:30
Well, we were with, but two people we knew of,
5:33
one person we were with and then their friend,
5:37
yeah, got their Rolex as stolen.
5:38
Holy shit.
5:39
It must be a watch thing.
5:41
Because you had a story.
5:42
Yeah, that's so crazy.
5:44
Yeah, I was like bruises, all up his arms.
5:46
It was quite hectic.
5:47
Really?
5:47
They tried to get it off him and he couldn't.
5:49
That's interesting, because the story I heard,
5:51
I was there like, it's so fun.
5:52
It was in Barcelona, it was like the week before the sailing.
5:56
And everyone's like, oh, are you going to the sailing?
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I was like, no, no, conveniently missing the end time sailing.
6:01
I didn't even know I was having it.
6:04
But I was buying a piece of art.
6:06
And when I talked about the sailing,
6:07
it was the America's car.
6:09
Sorry, it happens every four years.
6:11
And we won for the third year in a row.
6:13
And it was Saturday was a big day.
6:16
It was great fun.
6:17
I don't know why I'm like,
6:19
I've never felt super excited by the sailing.
6:22
And like, we've got friends who are really involved in it.
6:25
And like, I know there's such talented athletes,
6:28
but the, I don't know, for some reason,
6:30
it feels so elite like actually going to watch it.
6:33
Like, what was the crowd?
6:34
Was there a balance of, no, it is elite,
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but like, you can watch on the land or on a boat.
6:39
Or there's lots of fan zones and areas.
6:41
You can watch the bars on the beach.
6:43
But it is a, it is elite in that.
6:45
It is so expensive to be a part of it
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in terms of the cost of the boat, sponsorship, all of that.
6:50
Like, it's, there's only a few countries that are involved
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and New Zealand, I think we punch above our weight
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in the fact that we're such a small country.
6:57
But with the city of sails and Auckland, you know,
7:00
we have to be good, sir.
7:01
I did see scouts.
7:03
I felt like I was at home.
7:04
I was like, oh, yep, jive left, jive.
7:06
God.
7:09
How many countries do compete in the America's Cup?
7:12
Oh, like seven or eight?
7:15
It's not many.
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You compare that to other sports where there's hundreds.
7:18
Oh, what?
7:19
These two I saw are, oh my gosh, what?
7:21
Bernard or not.
7:23
Oh, yes, I'm like, the CEO of LVMH.
7:28
Okay, so you're going to have to give them more context.
7:29
Okay, so the America's Cup, the biggest sponsor,
7:31
it's called the Louis Vuitton America's Cup.
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So, and there's like Louis Vuitton everywhere,
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you know, Louis Vuitton Cup, Cup, Cup,
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37th America's Cup all there.
7:39
Yeah.
7:40
And then the prize came at the end
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before Emirates, New Zealand came on
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and received the trophy.
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They're like, now we've got, we're going to thank our sponsors,
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we're, uh, and then old Bernard comes out and does his speech.
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It's so funny because I got this video from that,
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like, so great.
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Wavering in the crowd, like, really shit quality,
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like, you know, coming in and out of focus.
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I was like, what's going on?
8:01
She's like, it's been out of Malvea, mate.
8:03
I was like, so full appreciate this.
8:05
I did appreciate it, but it's quite funny
8:07
as I was thinking, I bet there's almost like one
8:09
percent of people there understand the big,
8:12
like, made a tune of him.
8:13
And it was funny when my friends was like,
8:15
why are you filming?
8:16
I was like, oh, it's Bernard, it's Bernard, yeah, you know,
8:18
I was like, we talk about all time on the podcast
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and he was like, do you want to go meet him?
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And I was like, surely you just like, what do you mean?
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And it was so packed, like, we were so far
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about, you know, how tiny the photo was.
8:30
Yeah, yeah.
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And I was like, what do you mean?
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And then I got really awkward.
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He's like, we can go meet him.
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And I was like, you're just pulling my leg.
8:36
He's got, he's the richest man in the world
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who have got team bodyguards.
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I'm not going to run up to him.
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I'm like, hi, I've got a podcast
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and I meet you and you pay a lot.
8:44
Did you meet him?
8:45
No.
8:46
Oh, I would have paid money to see that five drinks
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I'm trying to go to bed.
8:53
What do you think would have been the first question you ask?
8:55
Would it have been investing related?
8:57
Would you think you would have found gold?
8:59
I think I would have frozen.
9:00
Yeah.
9:02
Oh, a little bit of nub.
9:04
Let's move on to actual news.
9:06
Yeah, actual news.
9:07
But I'm really glad that you're being the UK New Zealand
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correspondent for us for the America's World Cup.
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And happy to do it.
9:13
Yeah, you can do time.
9:14
OK, but you can expect the whole thing, you know, isn't it?
9:17
OK, cool.
9:18
Yeah, happy to also start the Barcelona office
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if we even nase.
9:22
I'm selling the Barcelona office.
9:25
Well, let's just see who learned Spanish first
9:26
because I actually booked in for some classes.
9:28
So I've downloaded you and I'm going.
9:32
Competition will be coming into the office.
9:33
Oh, I'd like your cares.
9:36
The office is like, what?
9:38
Yeah.
9:39
So what has been happening?
9:40
Because, firstly, I'm impressed
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that you've kept up with the news.
9:42
You say no.
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I'm a lady of many talents.
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Multi-tasking, like watching the sailing
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were also reading, like, that's me on a boat.
9:55
And it's still it's going to be such a long week.
9:58
No, no, no.
10:00
No, no, no.
10:01
You had to do that.
10:02
Yes, no, some news that blew me away was.
10:06
Off to though.
10:07
Yeah, literally.
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Nearly.
10:09
You know the whole craze with those ZMPRK,
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all the weight loss drugs and everything.
10:12
There is now the UK government giving weight loss drugs
10:18
to people to help them get back into the workforce.
10:22
So illness is caused by obesity.
10:24
Caused people to take an extra four days sick leave a year.
10:29
So it's an extra four days sick leave a year on average.
10:31
What's from a basic, like, diabetes,
10:35
health-related issues caused by obesity.
10:37
So what the government is now saying is that
10:40
to alleviate the NHS, which is the National Health Service,
10:43
as well as boost productivity for the economy,
10:46
we're going to give those people weight loss drugs.
10:49
It is at slowly wild.
10:53
So it's funny, though, because I've seen,
10:56
as these drugs, these weight loss drugs have become more,
10:59
I guess, prevalent.
11:00
I've kind of seen two sides of the argument.
11:02
And one is that, obviously, they're great for people with diabetes,
11:04
but then they've gotten to the mainstream and everyone.
11:07
Well, a lot of people are having them for non-weight loss,
11:10
non-diabetic purposes.
11:12
And so to see now a government stepping in and going,
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OK, we can now see the benefits,
11:18
which might be outside of diabetes as well.
11:20
I don't know. I'm just like, where do we land with this?
11:23
I feel like if someone is using a drug that has been created
11:26
for a specific illness, for example,
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if you have diabetes and you're really struggling
11:32
with your weight, you can't lose it.
11:33
And it's actually your health is at risk.
11:36
Something like ozempic is incredible.
11:38
That's amazing.
11:39
I think what is so problematic is people getting ozempic
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to try and lose weight for their wedding.
11:44
Or getting ozempic for ascetic reasons.
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That is really alarming.
11:48
And the problem is that it is available for people to buy.
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It's expensive, but you can get it.
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Even if you're not diabetic.
11:55
And I think even just the title that the UK government
11:59
is giving weight loss injections to people is so bizarre.
12:04
And when you say it takes, you know, maybe on average,
12:07
they spend another four days having to take sick leave
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or whatever.
12:11
It does make me think about people with endometriosis.
12:13
We have to get operations and are taking two weeks off.
12:16
Or there's so many other health related problems
12:20
that I don't think you're getting enough air time.
12:22
It's not to say that people's diabetes shouldn't get access
12:26
to ozempic if it's going to really help them
12:28
from a health perspective.
12:29
But if they're worried about people's productivity
12:32
and the economy and people are going to take time off work,
12:34
then look at other health related problems
12:36
that a lot of women face and don't get extra time off work.
12:39
And the other thing is the reason now that these have
12:42
gotten to the mainstream and people
12:44
using them for non-diabetic purposes,
12:46
there's such a shortage of supply
12:48
that the people that actually need it aren't getting access.
12:50
See, that really makes me sad.
12:52
Yeah, and now you've got this also,
12:54
you've got the UK government being like,
12:55
okay, we want some as well.
12:58
Like, there's just you either need to restrict it
13:01
to people who need it.
13:02
I think that that's what needs to happen.
13:03
And you only get a part description or whatever it is.
13:06
It just seems bizarre to me that someone can go learn
13:09
and buy this.
13:11
But also with this, what I do not like about this,
13:15
but what I can see in terms of the benefits is that
13:19
they save this costs, the NHS, a billion dollars a year.
13:22
So that's money they can now save and put elsewhere.
13:24
In terms of people that are being taken more time off work.
13:26
Yeah, and having to rely on the health system.
13:29
And then you've also got the benefits of productivity.
13:32
So I can see that the government's obviously done working on,
13:35
okay, if we pay for these weight loss japs
13:38
for these people that are in this criteria.
13:41
Just a weight loss japs.
13:42
I mean, it sounds like there's different language.
13:44
Then it's not only going to save money
13:47
for the NHS that can be spent elsewhere.
13:48
It's also going to boost productivity.
13:49
So I can see where they're coming from.
13:51
I just feel like the more and more people that use this,
13:56
the more common it becomes, the more dangerous it becomes
14:00
when it gets into, like the hands of people
14:02
who drive and actually need it.
14:03
That is my, yeah.
14:04
I was listening to a director's CEO podcast
14:06
and there was a guy talking about his impact
14:08
and the impacts that it's having.
14:09
And the risks that are involved when people are taking this,
14:13
they don't need it.
14:14
And the amount of bowel problems that people are having
14:16
and then operations that you have to have
14:18
because you're not able to go to the low problem.
14:20
There's a whole lot of things involved
14:22
that makes me think we're in such a time of instant gratification
14:29
where people are, I'm definitely not trying to say
14:32
that it's so easy to lose weight.
14:34
And you just like, you know, you just got to the gym
14:35
and you get healthy because I understand
14:36
there's a lot more complexities for people.
14:39
What I just, I hate that for women particularly
14:42
because I would love to know the stats
14:43
of how many guys are going and buying his impact
14:46
that don't need it because they don't have diabetes.
14:49
There's such an underlying need or necessity
14:52
or pressure put on women to stay a certain weight.
14:56
Like I guarantee there would be hardly any guys
14:59
going to get on his impact purely for aesthetic reasons.
15:03
It's just like I think there's a lot more systematic issues
15:06
at play here when it comes to the media and language,
15:09
everything that we talk about.
15:11
And I don't know, like I think it's someone
15:13
that's had an eating disorder before
15:14
and is like quite hypersensitive to when people speak
15:18
about weight in a way that's actually kind of unhealthy.
15:21
I think that it needs to start being called out
15:23
just like racist slurs, you know, people need to say,
15:26
I feel really uncomfortable with that comment.
15:29
Like it's, oh, I'm feeling like I think it's the language
15:32
that we use with our friends, with our family work,
15:35
actually needs to shift because glorifying weight loss
15:38
is a problematic in so many ways.
15:42
And I just think that I was then picking
15:44
a starting to magnify that because there's a quit easy fix
15:47
for everyone to be a certain weight
15:49
and that is really terrifying.
15:51
Six percent of all US adults now take his impacts.
15:55
Six percent.
15:56
That's nearly 16 million people.
16:00
And how many people are obese?
16:03
So, but if you put that in perspective,
16:04
so six percent of all US adults are using as impact,
16:08
but for 43% are obese and have diabetes
16:11
at related conditions, so.
16:13
I mean, hearing that makes me think,
16:16
I think I'm unaware perhaps of how of the magnitude
16:20
of obesity across the world
16:22
and how many people are suffering from health-related issues.
16:24
But isn't this, and I feel like we're giving a bit of topic,
16:27
but isn't it a education conversation
16:31
or a restriction conversation for companies
16:34
that produce processed food or high sugar or all of that?
16:37
Because I think having access to things like full sugar coke,
16:40
and again, this is probably me just being a bit naive,
16:43
but having access to foods and drinks that are not good for you,
16:49
like why don't we just make those products incredibly expensive?
16:53
Put a tax on them and then put a subsidy on fruit and veggies
16:56
and all that.
16:57
Well, that's exactly what needs to happen.
16:58
That for me is a much, much better long-term solution.
17:02
I think that that's exactly it.
17:04
It's not just an education piece.
17:05
I think that it's right now processed sugary foods,
17:10
a cheaper, and a lot of people don't have the privilege
17:12
of buying for individuals.
17:13
Exactly.
17:14
So that's actually more of the problem
17:16
opposed to an education piece.
17:17
Because if they were being directed to products
17:21
that were cheap and good for them, isn't,
17:24
like why you're not investing that amount of money
17:26
in marketing and advertising and education and taxing,
17:30
things that are, you know,
17:31
you could change the way people eat in many different ways.
17:34
Like it's cheaper to buy a can of coke than it is a bottle of water,
17:37
which to me is just like insane.
17:39
Oh, that's actually hard, but okay.
17:42
So if I did not have enough money or...
17:45
You were feeding family of seven.
17:47
Of course, I'm going to turn something cheaper.
17:48
Yeah.
17:49
Oh, gosh.
17:50
Oh, God, okay.
17:51
I feel like this could be a whole episode.
17:53
Yeah, yeah.
17:55
It's feds.
17:55
It's feds of food and how that impacts health and wellbeing.
17:59
God, you're good at content.
18:01
We'll get back to you on this episode.
18:05
There's a lot of concern right now around AI.
18:08
People are getting a bit nervous.
18:09
Is it going to take my job?
18:10
What's the world going to look like?
18:12
And...
18:13
But one of the things that is not being spoken about
18:16
is environmental impact.
18:18
Yes.
18:19
And the consumption, the energy consumption it takes,
18:22
even just to write a tiny command in chat GPT.
18:25
When we write one sentence in chat GPT,
18:28
it uses the consumption of energy
18:30
the same as putting a light bulb on for a whole hour.
18:33
This is a typical Google search,
18:35
which is the same as having a light bulb on for two minutes.
18:38
Yeah.
18:39
And I think that this comes back to things like cryptocurrencies
18:43
and the enormous amount of power that's used.
18:45
It's almost like the focus is on productivity
18:47
and people feeling really scared about job losses
18:51
and what's my career going to look like,
18:53
and what's the world going to look like.
18:54
But actually, it's like,
18:55
hello, this is how I do also,
18:57
the environment, the amount of energy
18:59
that's being sucked out of resources purely for AI
19:04
and for the advancements of what it can do is a lot.
19:09
And when I read that,
19:11
it instantly felt like a pang of guilt in terms of the fact.
19:15
If I think about the increase in how much I've used chat GPT
19:18
from like today to 12 months ago,
19:21
10 fold, 20 fold.
19:22
And I was like, oh my gosh, the light bulbs, the light bulbs.
19:24
If you know what I like about the light bulb
19:27
is it's a very obvious,
19:28
easy to understand way of measuring your consumption.
19:33
Definitely.
19:34
Yeah, it's so hard, though, isn't it?
19:35
Because on one side, you have in the back of your mind,
19:38
I don't want to get left behind.
19:39
I need to be aware that this is the way that technology's moving
19:42
and blah, blah, blah, because it is.
19:44
And there's nothing we can do to stop it,
19:46
but how do you offset your usage?
19:48
If the amount that you're using is a lot.
19:51
I think what we'll see is tech companies becoming more innovative
19:54
in terms of their energy consumption or their energy reliance.
19:59
Because we also have these climate goals
20:03
and the Paris agreement and a lot of companies
20:05
having net zero emissions targets,
20:08
but also AI targets.
20:11
And they're probably sitting there,
20:13
the CEO is probably sitting there going, oh gosh,
20:15
you know, we can't achieve both,
20:16
so which one's going to give?
20:18
Well, it's like the equal and opposite problem, really.
20:21
What they're trying to achieve
20:22
from a technological advancement standpoint
20:25
is literally the antithesis for what they're trying
20:28
to achieve from a environmental standpoint.
20:32
So I mean, I just don't understand
20:34
why we're not doubling down on clean energy investment.
20:37
I don't understand why we're not just going, okay,
20:39
it is really expensive to invest in producing more clean energy,
20:42
but it's necessary so let's do it.
20:45
I'm just, I'm confused by why it's not.
20:47
Well, we are seeing that.
20:48
So Amazon, Google, Microsoft have all come out
20:51
saying they're going to ramp up their investments
20:52
in nuclear energy.
20:53
So that is a type of clean energy.
20:56
No, clear sounds terrifying.
20:57
I know it does.
20:58
Yeah.
20:59
Because when nuclear power stations blow up,
21:00
it's like, that's a massive design.
21:02
Well, that's also like nuclear weapons,
21:04
you know, the word nuclear sounds so end of the world.
21:07
Nuclear just means like atoms, yeah.
21:09
But I know what you mean, like when I read nuclear,
21:12
I'm like, that does not sound clear.
21:13
That does not sound clean at all.
21:15
Solar wind, they sound very clean,
21:18
but they're very unreliable.
21:19
So the thing with nuclear as you can control it
21:21
and it's consistent, whereas wind and solar,
21:24
you obviously are very reliant on the weather.
21:26
And so with these big tech companies,
21:28
they need to be able to rely on this energy source
21:30
if they're going to ramp up their AI and investment.
21:32
Ooh, so it wouldn't invest in a nuclear energy company
21:35
as being an interesting investment.
21:37
There she goes.
21:39
Well, because if you think about it, yeah.
21:40
Especially if the world is, I mean, the weather,
21:43
everyone would have noticed.
21:44
It could be the middle of summer
21:46
and there's a giant cyclone
21:47
or it could be the middle of winter
21:49
and it's 30 degrees.
21:50
Like you can feel it that the world is struggling
21:54
from a environmental standpoint
21:55
and the weather's being affected.
21:57
So if we need clean energy to be able to
22:00
have a more positive impact on the environment
22:03
and all these tech companies need an abundance of energy,
22:06
and yet we can't rely on the weather.
22:08
Yeah, but it's all circular.
22:10
The nuclear energy surely is a really good answer to that, right?
22:13
And I think this is a good conversation in terms of like
22:15
if you are wanting to invest in clean energy, ETFs or companies
22:21
or even just that sector of space,
22:24
yeah, it's like diversifying across lots of different types
22:26
of energy because some companies might be okay
22:29
with relying on wind and solar.
22:31
Others might need nuclear.
22:32
Others might need the combination of all three.
22:35
But we all know we have to head in that direction
22:37
whether we like it or not.
22:39
Yes, it might be a few years delayed.
22:40
You know, the targets might get pushed out from 2030 to 2040,
22:44
but long term relying on drilling into the ground is not
22:50
kind of makes you feel so sad.
22:51
It's not a sustainable way of the future.
22:54
Yeah.
22:55
So then if we were to look at investing
22:57
in this particular sector or industry,
23:00
your point around diversifying,
23:02
so buying different types of companies or different ETFs,
23:05
it could be looking at nuclear ETFs.
23:07
It could be looking at solar ETFs
23:10
so that you're getting abroad and looking at excess.
23:13
And maybe just also explain what ETF is
23:14
for people who are listening that don't know.
23:16
Yeah, so ETF is an exchange traded fund.
23:18
So it's a basket of companies that trades on the stock exchange
23:21
and you just buy like one share in that
23:23
and you get access to all the companies underneath.
23:26
So it's like a basket of, it's kind of like a hamper.
23:28
Yeah, yeah.
23:29
So you're getting lots of different companies within the sector.
23:32
So this is the way that you can diversify
23:34
or not have all your eggs in one basket,
23:36
like buying one particular company in that industry,
23:39
you get access to all of them.
23:41
Yeah, or if you are investing in a clean energy ETF,
23:44
like ICLN is one of the biggest ones,
23:46
that's the ticker for it.
23:48
And the ticker is the identifier, so ICLN.
23:50
So like a number plate on a car,
23:51
it's just like the identifier of the ETF.
23:55
So it's a clean energy ETF in the ticker is ICLN.
23:59
And yeah, it's just looking at what's in there
24:01
and seeing if it's all in one sector
24:04
or you know, you should be across at least
24:07
the top 10 companies that are in there in terms of,
24:09
because those are the ones that will really move the new.
24:12
I would love to, what was that?
24:14
Sorry, I would love in the investing club
24:15
to do a month on clean energy
24:18
and look at different investments
24:20
that people could make within that space.
24:22
That would be really cool.
24:23
Great idea.
24:24
Sorry, Fever, you're unlossing me.
24:25
Eh, I'm not an emissing club,
24:26
but we actually, we've got a hundred,
24:28
we're letting a hundred more people in this week.
24:30
Yeah, which is exciting.
24:31
We're kind of dripping them in just because
24:33
it's only for intermediate investors at the moment.
24:35
So if you're listening to this and you're like,
24:36
what's an ETF?
24:37
What, I don't understand the diversification.stress
24:39
because we will have more like easy access
24:42
for beginners really soon.
24:44
But if you are interested in joining the investing club,
24:46
keep an eye on your emails
24:47
because we'll have a little notification coming out
24:51
probably in the next couple of days, I think.
24:53
Also, just to finish on this,
24:54
it's not just AI that uses a lot of computing power.
24:57
There's something else that's growing
25:00
in popularity in the world
25:01
that uses a lot of energy as well.
25:03
Oh, can I guess this?
25:04
Mm-hmm.
25:05
But I need close, because I don't know.
25:07
Money.
25:08
Digital money?
25:08
Yeah.
25:09
Isn't it?
25:10
Crypto.
25:11
Crypto uses a lot of energy.
25:13
So you've got these two major new advancements
25:18
that are so energy sucking.
25:21
And also, we're going to meet like ugly data centers
25:23
all around the world.
25:24
Oh, yeah, we're just going to have giant,
25:26
like warehouses full of computers.
25:27
Computers.
25:28
I kind of hate that.
25:30
I do think because people don't even understand
25:32
the idea of what cryptos or how it's created.
25:35
Same with AI, they don't really understand
25:37
how it works, what it is.
25:39
There's all these, I don't really know what the answer is,
25:42
but I think if we can all make more effort
25:44
to understand what is happening
25:47
and what these industries require to function and thrive,
25:50
we'll be able to think about what we need to be doing
25:52
in terms of investing in things that are going to combat
25:56
the negative impacts it's having if that makes sense.
25:58
And it's talking to friends about it, I think, also,
26:01
because there will be people that know more than you
26:03
or want to learn and just like opening the conversation
26:06
about investing in these certain things as well.
26:09
The more we can talk about it,
26:09
the more we can all educate each other.
26:11
Actually, if anyone's listening and you're an AI expert,
26:13
or you understand what's happening in this space
26:16
and how it's impacting and will continue to impact
26:19
the environment, be so cool to chat to you.
26:21
Yeah.
26:22
Because I think that a lot of people would be interested
26:23
if it can be explained in a way that makes sense.
26:26
100%.
26:27
There's a bit of news with Uber and Expedia.
26:30
Do you mean the Expedia?
26:31
Yes, but is it the...
26:33
booking system?
26:34
Yes.
26:35
So it's the US travel booking website.
26:37
I'm sorry, but I really thought this was completely gone.
26:40
I haven't heard the word Expedia in a long time.
26:42
I'm pretty sure my dad used to be a big fan of it.
26:46
Well, it's made headlines,
26:49
because Uber nearly made a bid for Expedia.
26:52
So by that, I mean, they nearly decided to take it over,
26:56
which is a $20 billion company.
26:59
It would be one of the biggest acquisitions
27:01
Uber has ever made.
27:02
That's enormous, because I must say,
27:04
Uber just is popping up again and again
27:07
in terms of whether it's Uber pet or Uber package
27:10
or Uber bikes, they're really starting to diversify
27:15
their offerings.
27:15
What planes?
27:16
What would they use?
27:17
Uber trains.
27:18
Uber helicopter.
27:19
Whoa.
27:20
Imagine accidentally ordering an Uber helicopter.
27:23
Oh, God.
27:24
Cancel!
27:25
Cancel!
27:26
Why would they...
27:27
You have been charged.
27:29
$17,000.
27:31
Why would they be buying a travel...
27:33
Yeah.
27:34
I'm trying to think what they would be moving into with that.
27:37
Yeah.
27:38
So they're trying to become like a super app.
27:40
So their mantra is that anywhere you want to go in your city
27:44
and anything you want to get,
27:45
we want to empower you to do so.
27:48
So they're trying to almost become a booking logistics company.
27:53
And they've even talked about taking over Amazon.
27:55
Sorry, not taking over, like taking on.
27:58
Sorry.
27:59
I just don't know we don't need more Amazon's in the world.
28:02
No.
28:03
You know, and one side I want to support Uber and invest in it
28:05
because it sounds like they've got these massive, audacious goals
28:09
to go beyond just transport anything.
28:13
That could be like quite a great investment.
28:15
But do I want to be supporting a...
28:18
No, the potential Amazon.
28:20
Convenience.
28:21
Imagine just...
28:22
I know, but this is the problem, isn't it?
28:24
We're constantly up against...
28:26
And it's the same with the conversation we had earlier
28:28
about AI and chat GBT.
28:29
How easy is it to just type in and get an answer,
28:32
but then it's a whole hour of live-old balance.
28:34
It's the same thing with Uber ads.
28:36
But like this morning, getting a bus, I know.
28:39
This is getting a line and mine was late and I was late.
28:43
I know.
28:44
You know, like, or walking.
28:46
If there was no lines, I'd have to walk,
28:47
which means I'd have to leave half an hour earlier
28:50
and it's just, boom, 10 minutes on a bike at work.
28:53
I'm so conflicted with this whole conversation
28:55
because one side, I want to go back to going
28:57
and making my own bread and making my own butter.
28:59
And then on the other side, I'm like,
29:01
I'm really happy with how much quicker I can do things.
29:03
And I think it's only getting it worse
29:05
in terms of the dichotomy of like your values versus
29:08
convenience, staying up with the play
29:11
and what he brings doing and oh.
29:12
So wait, have they actually bought Expedia
29:14
or are they still thinking about it?
29:15
No, so that was sort of rumored.
29:16
Right.
29:17
So what happens is that usually you want to keep,
29:20
if you're going to purchase a company,
29:22
especially one that's $20 billion,
29:23
you want to keep this under wraps
29:24
because this got leaked and Expedia's sheer price
29:28
jumped 7%.
29:29
So now Uber has to pay more.
29:32
Who on earth is leaking that?
29:33
And surely there's some kind of secret squirrel
29:36
that you can involved to find out who the little mall is.
29:39
But if you did buy shares on this information
29:42
before we in public, then you could be done
29:44
for insider trading.
29:46
But how they mean to differentiate
29:48
from someone who's just enjoying this
29:50
the day morning of a cup of tea
29:51
and thinking, you know, I'm going to invest in Expedia
29:53
I've just, well, I think I'm going to invest in it.
29:54
They have no idea what's about to happen.
29:57
Well, I think that that was you.
29:58
They probably wouldn't care.
29:59
But, bro, if you were a huge fund
30:04
and you were putting tens of million dollars in it.
30:07
Oh, tomorrow?
30:08
Oh, oh my gosh.
30:10
Okay, yeah, what a coincidence.
30:12
Right.
30:13
They like, hang on.
30:13
And you've done that team times before.
30:15
Oh, this is not the next one I may have got you.
30:18
We're so happy you're all right with her $1,000.
30:19
Okay, okay, okay, I get it.
30:21
So how did Expedia's share price go up?
30:23
Yes, when others go up, what happened?
30:25
Yes.
30:25
So Expedia's share price went up.
30:26
Ubers has been going up for this whole year.
30:29
It's up 85% this year.
30:31
Oh my gosh.
30:32
Maybe they went through years of the whole,
30:34
kind of not sexual harassment,
30:36
but there was a lot of,
30:37
I don't know.
30:38
There was a lot of people in,
30:39
there was a lot of cultural issues.
30:41
Really?
30:42
And then so they changed CEO and everything.
30:44
And they've got a new CEO in.
30:48
And he has actually,
30:50
he was the previous CEO at Expedia.
30:53
So everyone's like,
30:54
ah, I can see.
30:57
Well, this could actually be a deal.
30:58
It's not just people going,
30:59
pulling it out of thin air.
31:00
It's like, hang on,
31:01
you used to work there.
31:02
You're still on the board.
31:03
You are now CEO of Uber.
31:07
Interesting.
31:08
We can see, it's two businesses, you know, very well.
31:10
You'd know just how well they're meshed together.
31:12
There'd be an effort to synergize all of that.
31:14
So.
31:14
That's kind of interesting.
31:15
Yeah.
31:16
Have we got to the point of like,
31:18
why they would be buying it?
31:19
What would they do with Expedia as a product with an Uber?
31:22
Is it like an Airbnb booking holidays through the?
31:26
Booking travel.
31:27
So yeah, like flights.
31:30
Yeah, hotels.
31:31
Yeah, so you could,
31:32
I guess you can book cars.
31:34
You can book packages.
31:36
You can get from A to B,
31:37
but then what about staying?
31:39
And I don't know.
31:40
All flights.
31:41
You know, flights, oh my God, imagine.
31:42
Imagine.
31:43
Imagine a surcharge for school holidays.
31:46
Oh, imagine the wait time.
31:47
It's like, come on, it's not loading, it's loading.
31:49
Oh, in the in one minute, you're like,
31:51
shit.
31:51
I think the airport used the airport.
31:53
But I find it really hard to use Google flights
31:56
or sky scanner or all those, if you know,
31:59
even just websites for the airline.
32:01
I find it so annoying.
32:03
You know, and you're like, skip seat selection.
32:05
And then they're like, are you sure?
32:06
But they've made it a different color.
32:07
So you want to say no, but then you're trying to say,
32:09
like, it's so confusing.
32:11
If Uber all of a sudden had a really easy way
32:14
of booking travel, I'd be on board with that.
32:18
Okay, wow, so this could be massive.
32:20
But I think from this, my takeaway is like,
32:22
they're wanting to be a super app.
32:24
They're pretty ambitious with these targets.
32:27
They're making, you know, a billion dollars
32:29
a profit of quarter, like they have,
32:31
I don't know, there's a big growth mindset here
32:34
in terms of, I don't think we've seen
32:36
what Uber could be.
32:37
That's it.
32:38
Okay.
32:39
Exciting, interesting, love it.
32:41
Love it.
32:41
Love it.
32:42
And finally, Australia versus New Zealand.
32:44
Gosh, we've got two very different economies there.
32:47
Why, what do you mean?
32:48
Well, Australia's going gangbusters in New Zealand
32:50
is not really.
32:52
Gosh, that's annoying.
32:53
I know.
32:54
I do love Australia.
32:55
But sometimes it annoys me when New Zealand
32:57
is, you know, the poor, laggy cousin.
32:59
I know.
33:00
And then Australia is just absolutely creamy.
33:02
Like why we're so close together?
33:04
What are we doing differently?
33:06
I know, it is incredibly frustrating,
33:08
especially when people, you know, you're over here
33:10
and they're like, oh, you're Australian.
33:11
You're like, yes.
33:13
No.
33:14
Also, I know this is so bad, but don't you
33:15
reckon the Australian accent, particularly on girls,
33:18
is so sexy?
33:19
When I hear an Australian girl, I think hot.
33:22
When I hear a, get out of my, hey, yeah, go on.
33:25
I'm like, no.
33:26
It's not going up, man.
33:28
Well, anyway, there's been data that's coming
33:30
to Australia.
33:31
They've got one of the strongest jobs markets.
33:32
So this means that the people in the workforce,
33:36
the new jobs have been created.
33:38
It's at a 16 month high.
33:40
So if we look at that versus New Zealand,
33:42
we've got people leaving our country
33:45
because they can't get jobs,
33:46
because the job market's so shit.
33:47
And where are they going?
33:48
They're going to Australia and they're going to the UK.
33:50
So we are at a 19 month low
33:54
in terms of our net migration.
33:56
So we're having max exodus from the country.
34:00
Oh, that's actually really scary,
34:02
because already industries are struggling so much in New Zealand,
34:06
whether it be hospitality or otherwise,
34:09
to think that there's even more like that's continuing
34:12
and it's actually just speeding up
34:13
in terms of people leaving.
34:14
It's quite scary.
34:15
I just think people need to pay more for jobs.
34:18
It is absurd how expensive it is to live in New Zealand,
34:21
particularly some parts like Auckland,
34:23
compared to what people pay.
34:25
It's like 35% more just being in Australia
34:28
for the exact same job.
34:29
And people pay as in businesses.
34:31
Yeah, I just think salaries are so average in New Zealand.
34:34
But then those businesses are struggling.
34:38
So how are they supposed to pay more
34:39
if they're not getting more revenue coming in?
34:41
So this is the whole thing.
34:42
The economy slows down.
34:44
It's like the flow on effects are like.
34:46
Yes, I don't think about that.
34:47
I mean, why are you not paying more?
34:49
That that makes sense.
34:50
And then this flows into interest rates.
34:51
So we've got very different interest rate policies.
34:54
So what's happening in New Zealand
34:56
is that we've started to see interest rate cuts,
34:58
which is good because it means what's good for homeowners,
35:00
it means mortgage rates will come down.
35:03
It means that people with savings in the bank
35:06
are getting less on those savings,
35:08
which means there's encourages spending.
35:10
So it is, we're now in an environment
35:13
where we're trying to encourage people to borrow money
35:17
because it's cheap, save less,
35:20
and put that money into spending in the economy
35:23
to help boost that top line of those businesses.
35:27
So there's like all the economics one and one.
35:30
I say, oh, we can connect it.
35:32
And in Australia, because they've got such a good economy
35:35
right now, or sorry, a better economy than New Zealand,
35:37
they have come out and said,
35:38
we're not going to cut interest rates.
35:39
We don't need to, you know?
35:41
People are spending, jobs are good, all of that.
35:43
So people are still getting good savings rates
35:47
if they've got money in the bank.
35:48
Yeah, it's just like the dichotomy of New Zealand.
35:52
Yeah, the one takeaway from this
35:54
is that whenever you hear of us talk about interest rates,
35:57
or you see headlines, or anything like that,
35:59
interest rate cuts, or they're on hold, or whatever that is,
36:03
if you see a headline where your interest rate has been cut,
36:07
especially if you're in New Zealand,
36:09
where they are cutting right now,
36:10
and they could be lower in the next 12 months,
36:12
just make sure that if you've got savings in the bank
36:15
or in a high returning savings account,
36:18
you check what rate you're getting
36:19
because it could be very different
36:21
to what you got six or 12 months ago.
36:24
And what would be a good rate for high interest savings account?
36:27
What are they like 4%?
36:29
Yeah, 4%.
36:30
I mean, interest rates in New Zealand right now
36:32
are 4.75%.
36:34
That's a country's interest rate,
36:36
and then banks are different interest rates.
36:38
So banks will have rates around 4%,
36:40
but it totally depends on if you're putting your money
36:42
in a term deposit for three months or five years,
36:45
you'll get very different,
36:46
but it's just being aware of,
36:47
if you put money in there and you thought,
36:49
oh, I was getting six.
36:51
Just check if it's still at this.
36:52
Just check, because you might actually check now
36:54
and be like, oh, hang on, it's four.
36:55
Oh, okay, I'm actually might want to invest some of that money
36:57
because now I'm not going to reach my long-term goal
36:59
or something like all of that.
37:00
So, and because about six to nine months ago,
37:03
keeping your money in the bank,
37:04
you were getting sometimes six percent.
37:05
So a lot of people were thinking,
37:07
well, why would I put my money in other investments
37:09
like the stock market or property or other assets
37:12
that are growing at a higher rate?
37:14
Because the bank's pretty safe and very high returns,
37:19
whereas now that's shifted and those are coming down.
37:22
So it means people need to start being more aware of actually.
37:24
If you've got a lot of money in the bank,
37:26
it's probably not the best place for it,
37:28
and you should look for other options.
37:29
And you just don't want to wake up in 12 months' time
37:32
and be like, dammit, why did I not realize that?
37:34
You know, because when it comes to growing your wealth
37:38
or growing your money, every day counts.
37:41
I think this is the thing.
37:42
One percent doesn't sound like a lot when someone just says,
37:45
oh, but it's four percent and someone else is at five,
37:46
do you think, whatever.
37:48
But actually, if you were to understand
37:49
how much that is over a 12-month period,
37:51
you probably feel sick about not caring about it.
37:54
Yes.
37:55
And then you take that amount and you multiply that
37:56
by 30 or 20 or 30 and you're like,
37:59
you're like, okay, you really should've done something about that.
38:01
Yes.
38:02
Everyone should experience for us class at least once in their lives
38:05
and Annie shouldn't miss out just because she can't afford it.
38:07
Help me, I'm poor.
38:09
Had you have any financial feelings
38:11
whether any flexes this week,
38:13
any financial faux pas that you would like to share with the team?
38:16
Did you have any travel faux pas with money or good
38:19
or you're looking cheeky, which makes me think this?
38:22
No, I just had very generous friends.
38:25
Ah, yes.
38:27
Which I'm very thankful for.
38:29
So you got a free holiday, isn't it?
38:32
We're on the most bougie holiday and she didn't pay for it.
38:34
I thought it would be a lot more expensive than it was,
38:36
but it was nice.
38:37
We, there was a lot of friends,
38:39
a lot of eating out, a lot of dinners,
38:41
but yeah, it ended up being,
38:42
we saved money in other places.
38:44
So yeah, it actually wasn't as expensive.
38:46
It was kind of nice to come back from holiday once
38:48
and not be like, gosh, I spent a lot.
38:51
You know, it was the last two holidays for me.
38:53
Yeah, quite historical.
38:55
My financial flex would be,
38:57
I find sometimes I go and try and save money on cooking,
39:01
but then end up spending more than if I'd just gone
39:04
and bought my lunch out and in the weekend.
39:07
I made pumpkin soup, which is currently
39:09
slightly splashed onto my jacket,
39:11
which I didn't realise before I started recording.
39:13
But we actually ended up having leftovers.
39:17
So there's probably three to four lunches worth.
39:20
So it ended up being really cheap, nice.
39:22
Which doesn't happen a lot.
39:24
I don't know why, but I must have,
39:25
maybe I buy expensive groceries,
39:27
or it's just actually sometimes not worth it.
39:31
Cooking versus spending out.
39:32
But in this particular situation,
39:33
it was well worth it.
39:35
Pumpkin soup, I just...
39:36
Do you not like it?
39:37
It's one vegetable.
39:38
Nope, there's garlic, there's onion.
39:40
There's, oh God, yeah, there's no veggies.
39:43
Yeah, whereas I like a chicken soup,
39:44
there's got like chicken carrots, broccoli, you know,
39:48
onion, it's got like a good one.
39:50
Diverse, diversification of a vegetable front.
39:53
That's actually quite a good point.
39:55
Don't invest like you eat sov.
39:57
Yeah, good idea to know.
39:59
But I eat pumpkin.
40:01
But I do sometimes whack a bit of broccoli
40:03
and they're just for some greenery, you know,
40:05
like roast brown.
40:07
And then put it in, it's almost like a crouton,
40:09
but in your pumpkin soup, you know?
40:12
Nice, okay.
40:12
But good, that's a great one.
40:14
We don't want to invest like we eat pumpkin soup.
40:16
Yeah.
40:17
Pumpkin soup is not giving you your five plus.
40:20
No, it's definitely not.
40:21
Okay, now I'm hungry.
40:23
Yeah, same.
40:24
Okay, bye.
40:26
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40:28
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40:50
Bye, bye.
40:52
So yeah, see you next Tuesday.
40:54
See you next Tuesday, I mean Monday.
40:59
No, actually though, new episodes out every Tuesday.
41:05
Okay, quickly, the Curve was created to empower
41:07
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41:09
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41:11
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41:13
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41:15
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41:17
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41:18
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41:20
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41:22
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41:25
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41:27
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41:29
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41:30
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41:31
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