Latest / The Curve / TCW46: Black Friday, Kim K and the return of Robin Hood.
Transcript
- 0:00Hi and welcome to the Curve Weekly. The podcast that keeps you up to date with all the money,
- 0:06business and stock market tea. Everyone should experience for us at least once in their lives
- 0:11and Annie shouldn't miss out just because she can't afford it. Help me, I'm poor.
- 0:15Oh, it's been a week, so. Hasn't it? There's been ups, there's been downs, there's been lots of
- 0:20peaks and lots of pits hasn't it? I've got a peak. Okay, sure. The fact one, the best branded
- 0:26podcast in New Zealand. Oh my god, yes. It was actually like a real one. It's funny because we do,
- 0:33if you listen to this podcast, you'll know that we do do branded partnerships and sponsorships,
- 0:38but we've always from the beginning, I've been quite strict on it, haven't I? Like just in terms of
- 0:43who we work with. Oh, strict. Like there's been brands that have come to us and I'm like, so
- 0:47they're willing to pay us. She's like, no, but like it's not going to be good for our audience or
- 0:52and I'm like, so are you kidding me? But now I eat my own. Yeah. And I actually do think we do
- 0:59this well, which I think is, it sounds arrogant even to be dirty on trumpets, but when we work with
- 1:05brands, it's always about creating something different and bespoke and like we want it to be,
- 1:09we don't want to like flog out audience with stuff they don't care about or brands that we know
- 1:14or we don't believe in. So to win that, I was like, oh, that was a real moment and I actually got
- 1:19quite a few messages from people who I used to work with in radio, like even Dom Harvey was
- 1:23ugly. Congratulations. I know. I was like, oh, thanks. It's funny how like little things like that,
- 1:28like an award can just be the pet on the back you need to be like, oh, I feel really good about
- 1:33this. Well done too. And it usually comes when you're having a shit week or something and you're
- 1:36just 100%. Do you know another peak I had this week? Oh, yeah. So in the co-working space that we go to
- 1:44in London, a lot of people listen to the Allegra podcast interview that we did last Wednesday and
- 1:49it was all around the cost of transitioning. So Allegra transitioned when she was like, I think 31,
- 1:55but you know, she shared her whole story and the cost involved in that kind of thing. And the amount
- 1:59of people who have come up and been like, I listened to that episode and that was so brilliant,
- 2:04has been really cool because that kind of thing happens normally a month, Kiwis, like there's so
- 2:10many brilliant people who listened to the podcast. They're like, I love this episode or whatever,
- 2:13but having random people in London, listen and say that they really enjoyed it. I was like,
- 2:18oh, that means a lot. Yeah. And heaps of cool messages have come in about that episode. So if
- 2:23you haven't listened, highly recommend. Yeah, she's amazing. She was actually, we went to a movie
- 2:27together on Wednesday night, like, you know, when you take your friendship offline, you know,
- 2:31like we're taking us out of the office. Oh, I don't know. We went to see Saltburn,
- 2:38that new film. Have you seen it? Oh, no. What do you think? I've heard really good. Okay.
- 2:44But Jacob Aldery, he's so sorry. Oh, he is my whole past. Sorry, Flahman, but
- 2:50oh, him and Harry Styles. He was so hot in the movie. But yeah, it's a really fucked up storyline,
- 2:57but a really, like beautifully shot film, amazing cast. It was the first time I've been to the movies
- 3:02and ages. And I thought that was worth 25 pounds. 25 pounds. I'm sorry. 15 New Zealand dollars
- 3:09to go to the cinema. I know. I'd be illegally downloading that shit. It was like bougie lazy boy
- 3:14chairs. And I would have nachos to my chair. And then Lucy, a friend of ours got come
- 3:19replies. And you could have wine at your seat. Like it was pretty, it was pretty nice. But I will
- 3:23say ordering nachos in a movie is a terrible idea because you're like, you can't see what's on
- 3:29the chair. You're like fishing around the plate for the bohemole or the tomato. Like I had to go
- 3:34and wash my hands because it was just such a messy audio. I went to the movies just before
- 3:38relief London. And it was for some of the vibes like bougie chairs. And we didn't realize we had
- 3:43done it before, but we went in and then we were like, damn it, you can order in here and get
- 3:46served food. And this poor lady was carrying a tray of drinks. Oh no. And it was pitch black
- 3:53because the movie had started. And we just heard this colossal. And I was like, oh my gosh.
- 3:59And all over people. And I was like, okay. Anyway, so we had the wrap up of like Black Friday
- 4:06sales. So Black Friday sales happened in the last, I think it's the last Friday of November.
- 4:12Anyway, it's just before Christmas. It's always just before Christmas. It's really taken as an
- 4:17indication of consumer health, you know, is the consumer spending money? Is it growing year-on-year,
- 4:23all that stuff? Where are they spending their money? And so for this year, Black Friday sales
- 4:28came in at $10 billion. So that's on one day, which is, is that globally? That's right. This is
- 4:33in the US, which is up about 8% year-on-year, so versus last year. And Shopify, so they're the ones
- 4:41that kind of, I guess, facilitate a lot of the online transactions. They recorded a record Black
- 4:48Friday with $4.1 billion of sales. So they had 40% of those online sales went through Shopify.
- 4:55Shopify is just killing it, like, honestly. You kind of have to use them for everything if you're
- 5:00buying something online. Do you know what I mean? And we host our website on them. We, when ever I buy
- 5:07something online, it, like, takes me to the Shopify checkout. And I'm like, oh, gosh, I was like,
- 5:10who doesn't use Shopify? Have you invested in Shopify? No, I haven't. It's kind of been pretty volatile.
- 5:15Obviously during COVID, it did really well. Then it didn't really do well. And now it's kind of
- 5:19doing well again. So I always thought I'd missed the boat with that one. Do you know what I mean? I
- 5:24thought everyone uses it. So what more could it do? Whereas low-in-the-hole, that's just keeps doing
- 5:29well. But one of the most concerning things with these Black Friday sales was the 70% increase
- 5:37in, by now, pay later usage. No. Yeah. Oh, shit. People are purchasing things online that they
- 5:46can't afford, which really, really scares me. And shows me that people are probably in pretty
- 5:52dire situations if that's gone up 70%. 70%. Yeah. Shit, that's bad. I feel like Black Friday sales
- 6:00used to be just on Friday. But all of a sudden, it was like, Black Friday week. I'm still getting
- 6:06out. It's being like, Black Friday on Monday. Yeah. And I'm also, I was speaking to a friend who's
- 6:12got a retail business. And she was like, oh, I've got Black Friday. And then we've got Christmas.
- 6:16And then we've got Boxing Day. And she's like, it's just never-ending sales. I'm like,
- 6:20from a customer point of view, I'm like, that's great. But yeah, it's just, I feel like we're constantly
- 6:24being slammed with sales. And I'm like, are they legit sales? I feel constantly on sale.
- 6:29Black Friday has turned into the sale of the year. I could be totally wrong. I was knew it was
- 6:33a big deal. I didn't realise it was almost like the peak for most- for most stores and most products,
- 6:39that's their money maker is Black Friday. And leading up to it and like the amount of advertising
- 6:45and planning that goes into it is, I didn't realise it was such a big deal. As you said, like,
- 6:50I kind of thought because there's Boxing Day and Christmas and all the other shit. I didn't
- 6:55realise Black Friday was such a huge profit maker for lots of companies. For a lot of people,
- 7:00it's a good time to buy Christmas presents because they're on sale. But one thing I would say
- 7:05be aware of is retailers that hike their prices and then drop them for Black Friday sales. So they
- 7:13can say 50% off, but they actually increased it by 50% and then dropped it so that they can use it
- 7:19as an advertising ploy. What else has just been fucking sick of the world? Why are people so annoying?
- 7:26Can't we just wind back the market? I'm just saying fuck off. But I guess it's more like if you
- 7:32are wanting a new TV, for example, make sure that you're looking at it in the leader or well
- 7:37before Black Friday and then if it goes on sale, buy it, don't I guess be an opportunistic shopper
- 7:44and be like, oh my god, it's 50% off because it might actually, it might not have been 50% off
- 7:48or it might have not actually been that expensive before. So just be, be a conscious shopper. But two
- 7:54places that have really benefited this year is eBay and Timo. Now tell me you've heard of Timo.
- 8:03How's it spout? T-E-M-U. Oh my god, it's soft. Really? If you go on Timo, you will go into a Timo
- 8:09hole honestly. I don't want to admit this to you because I know I have a to-do list that's a mile long
- 8:14but on Friday, I was sitting in an alcohol working space at office in Auckland, which is actually the
- 8:20Harris Tapper office, my sister's company. Anyway, I was sitting there with Lauren, who's also my
- 8:24flatmate, and she was like, Vic, have you heard of Timo? Because I was like, what do I get Christmas
- 8:28presents for my niece and nephew? And she was like, have you heard of Timo? And I was like,
- 8:32I was like, if you people have mentioned it now, and I went on, I was like, oh my goodness.
- 8:36What do they sell? Just you have to go on. It's insane. The weirdest games, the busiest stuff,
- 8:44it's crazy. Is it sort of like an Amazon kind? It's like Amazon, yeah, but it arrives like that,
- 8:48it arrives in seconds. And it's just, I guess the range of things is insane.
- 8:54Oh, can I just be like pessimistic? I know. I know, I know, I can't.
- 8:58And it's a plan thing. Yeah, I shouldn't say the price is so low to the point where I'm like,
- 9:04I know, definitely. You know, sorry, I'm not trying to be like negative Nancy, but to sell a pair
- 9:10of slippers for £199, who is making that? And what is that doing to the planet? Anyway, but my
- 9:17point being, so I was sitting there with Lauren and she was like, oh my god, Timo, and then I was
- 9:21like, oh my god, so many other people have met you in this as well. And so I instantly googled
- 9:26as Timo, a listed company. Is it public? And then we found out that it was and she bought
- 9:31she isn't it. Did she? Yeah. And she was like, oh my god, amazing. I was like, well, if it is
- 9:36doing as well as you think and everyone's using it, all of a sudden, then you know, that's got to
- 9:41be good for revenue and stuff. And then the step came out saying that Timo and eBay and the US
- 9:46sort of biggest increases in spending on Black Friday versus last year. And so I was like, we're
- 9:51kind of saying to the share price guy. Yeah. Yeah. So it's actually owned by, it's owned by a
- 9:55parent company called PDD, which is a Chinese company. Yeah. So it's kind of unfolding before I
- 10:01aren't going lost. Yeah. So it's just a listen to like, when you see or hear people talking about
- 10:07something, you're just having that investing mindset of, is this a public company and can I get
- 10:12access to it? So yeah, I think it was just a really good real life example that happened.
- 10:17That's an amazing, amazing example. I love that. And also, can I just share a little thing that I
- 10:23learned from a friend of mine around Black Friday too? Yeah. She has a notes list of all the things
- 10:28she wants to buy. So pajamas, new running shoes, new jacket, all of these kinds of things. Yeah.
- 10:34And before she goes and buys something and kind of how you are saying with TVs, like, don't just
- 10:39be like, oh, it's 50% off. I'm going to go buy it. And possibly without realizing what is
- 10:43them, she will tick things off in each payday. She chooses what she's wanting to focus on or buy.
- 10:49I love that. So then when Black Friday came around, rather than just going crazy and getting lost
- 10:54in a team who hold, she was only buying things on her list that she already wanted to buy that
- 11:01happened to be on sale. And I was like, that's a really great way to not get too carried away
- 11:06with online shopping because I'm just always like, sometimes I'll end up on some random shop
- 11:11or sale. And I'm like, I'll buy couch covers. I don't even have a couch. Why the fuck did I buy that?
- 11:16You know what I mean? Like really stupid stuff. So I kind of like that as a good little tip.
- 11:21If you find yourself buying things that you're like, why did I do that? Hold yourself accountable
- 11:26for the things you actually need. In other news, this is really relevant for you and me. Black
- 11:32calves in London are going to be on Uber soon. No. Yeah. We've got to paint the picture of what
- 11:38the black calves are. They are chic. They're cute. They're space for your suitcase in front of
- 11:43your legs. They know every single street in London. Oh, you jump in and you're like, oh,
- 11:49so you go. No, you go. Oh, we're just so excited. Yeah. You get in and you go Smith Street.
- 11:54You know, and that you expect there to be 10 Smith Streets in London and they go, Smith Street
- 11:58W1S5H or something and you're like, yes, great. And they just go, yeah. And they're always really
- 12:04lovely old men I find. I love them. Yeah. I feel like I'm living out like a princess diary. It's
- 12:10kind of rich life when I get in a black cab. Yeah. But I was going to be quite gutted to be
- 12:15on Uber to be honest. I feel like they've been really proud of their independence and not being on
- 12:21Uber. Yeah. And they're very British. You kind of get in the London cab and you feel like you're
- 12:25having a treat or it's like having a scone. Yes, with cream and jam. No, but I think the reason
- 12:32that there's so much more expensive than Uber, they literally double the price I reckon. You can't
- 12:37be hailing down those cabs all the time. And Uber's eaten a lot of their markets here,
- 12:42taken away a lot of customers for these black cabs. So they're probably at a point now they're
- 12:46like, you know what? You can't beat them, join them. Is black cabs owned by a public company?
- 12:51No, you buy like licenses. So individual, you buy a taxi license to operate as part of the
- 12:58network. If that makes sense. So I think that license is from the government. It's not it's not
- 13:03it's not a company is such it's like individual operators. I think this would be really good for Uber
- 13:08in terms of their share price. Like I feel like that's a massive one. Well, Uber's share price is
- 13:13up 120% this year. I just hate Uber in the UK. I feel like I'm being such a grouchy
- 13:20old lady here, but but over in the UK is the pit. But I think about how much? Well, I use it
- 13:27in terms of Ubering around during the day or night. Lime scooters, that's Uber as well. Uber
- 13:33eats, that's Uber. Uber package will be forget things or need to get out your stickers from A to B
- 13:39when we forget things. When society forgets things. But you know, like you kind of Uber everything.
- 13:45I don't know. It's quite amazing how ingrained they've got. So that's Uber.
- 13:49In other news, we touched on the SNL curve weekly. So if you got our curve weekly email,
- 13:54Jimmy, sorry, yeah. But IPOs are really back in fashion right now. There is so many IPOs coming.
- 14:02But those of you don't know. IPOs are when a company, a private company, becomes public for the first
- 14:08time. So it means that you and I can buy shares and get a piece of the pie in terms of these companies
- 14:16now. And there's a ton of really well-known ones that are coming to market, which means they're
- 14:21IPI. Do you want to have a stab at what they are soft? Do you know what's the worst part about this?
- 14:26Is that I've read the email and I can't remember. Oh, gosh, I actually cannot remember. Rhymes
- 14:33of pins. Skims. Yes. Yeah. Complanations company skims is potentially IPI next year,
- 14:41which is very exciting. I wear underwear. Oh, my goodness. It is like wearing clouds. It is
- 14:50so comfortable, honestly. Where do you buy it? Do you have to buy it from them directly in their
- 14:54nature? Right online. And then I also bought stockings from them, which might seem a bit weird.
- 14:59Stockings, you can just buy it from the market. But I was like, you know what, I'm getting
- 15:02a bit of a whirl. And they are the best stockings and they haven't let it. And I feel like they
- 15:07suck everything in, you know what, Kim Kardashian's all about. She knows what she's doing.
- 15:11She knows what she is. Well, if you've got the money to get the best in the business, the best
- 15:15stocking makers, the best undemakers, you know, you're going to have the best product. But yes,
- 15:20skims is IPI-ing. Read it. So the social content platform that's IPI-ing. Yeah. I don't know how
- 15:27they make money. How do they? I was just about to say the same thing. It must be sponsored.
- 15:32Would it be? Maybe. Pop ups and stuff. Yeah, it must be. I mean, we get asked how we make money.
- 15:37So if anyone would like it, get really uncomfortable, feel like. And so like, how do we make money?
- 15:45Oh, yeah. So we just, yeah. On that, you know, if anyone would like to work with us with just one
- 15:51A brainer podcast award for being the best at partnerships, you know, so just saying,
- 15:58gold and goose is another one. You know the shoes? No, those were the stars on them, the sequins.
- 16:03Oh, actually, yes. They kind of like fancy sneakers, but they almost look tacky.
- 16:08Yeah, they look like dirty, high-ends. Yes. Yes. Slightly grubby. That's a horrible thing to say.
- 16:14Sorry. And I think the only reason I thought that is because I do have friends that own them.
- 16:19And I've seen them. And I'm like, I think they look nice, but they do always look dirty.
- 16:22Yeah. I bought a pair like a few years ago when we lived in Sydney. And I was like, you know what?
- 16:27These look like cool sneakers. I bought a pair and they, they had like scuffs on them.
- 16:31And I just, every time I put them on, I just felt uncomfortable. I was like, oh, I want to like
- 16:37scrub off the scuffs. And I was like, no, that's not good. Other scuffs meant to be there.
- 16:41Yeah. They're like permanent, like scuffs. They're like part of the aesthetic.
- 16:45Oh, you're kidding. I thought I was just dirty. No. And so, yeah.
- 16:48I feel like, well, I can't wear these because I ended up selling them. I just never, never wore them.
- 16:53You're definitely the worst person to have any kind of something wrong with, you know, like, you know,
- 16:57you'll be the mum in like 20 years' time that someone's wearing like ripped something.
- 17:01And you'll be like, didn't you pay more for the holes?
- 17:04Like, oh, yeah. Did you pay someone to rip your pants?
- 17:07You're like, oh, lol. But anyway, so Birkenstock hasn't actually done that well since that IPO.
- 17:12So it'll be interesting to see how this next footwear company, Golden Goose, goes.
- 17:17And then we've also, the last one here, we've got is Shine or Sheen.
- 17:21Isn't it said Sheen or something?
- 17:23We've got a few messages, but like, you've totally said that wrong.
- 17:26Okay, well, sheen, Shine, whatever you want to call it.
- 17:28We spoke about this last time. Yeah, their IPOing as well.
- 17:31So they, there's just so many companies at the moment.
- 17:34And I kind of was like, well, why all of a sudden?
- 17:36Also, so many fashion companies.
- 17:39Yeah, did you know, actually, he's a fun fact for you.
- 17:43Shine or Sheen, hope you say it, is bigger than Lululemon and H&M combined.
- 17:47Wow.
- 17:47It drops 10,000 new items on its website every day.
- 17:53Nah, that's a no from me.
- 17:55It sells things like earrings, which are for less than 50 cents.
- 17:58I saw a meme that was like, I can't wait for Sheen to come out with houses.
- 18:03I was like, that's so good.
- 18:05And then there was this other one I saw, oh, this guy.
- 18:09The tagline was like, obviously, your top's from Sheen.
- 18:12And he was trying to put his phone in his pocket on his polo shirt,
- 18:15but the pocket was like a fake pocket.
- 18:17And he was trying to put stuff on it.
- 18:18And it was like, obviously, you got your top from Sheen.
- 18:20It's like, they're just like cutting corn.
- 18:23So it's like, oh, gosh, it's so good.
- 18:25It's been a butt of jokes because you're such a cheap product or a cheap baby.
- 18:29Oh, they'd be loving it because they're like, you know,
- 18:32we're being used in conversation.
- 18:33It's like as soon as people started saying,
- 18:35you're getting in over and not getting a taxi.
- 18:37That's when you know your brand.
- 18:38Having cut through it, right?
- 18:39Yeah, like, are you going to do the hoovering?
- 18:41Is that a brand?
- 18:42Hoover. Hoover is a brand.
- 18:43It's like one of the most common.
- 18:44Oh, that's quite clever.
- 18:46Yeah, yeah.
- 18:47And other news, Robin Hood.
- 18:50So this is one of the largest training platforms in the US.
- 18:54So it's kind of like a Sheezy's in the US,
- 18:56but they're launching in the UK,
- 18:57which is really, really exciting.
- 18:59So they launched in the UK in 2016.
- 19:04And then again, in 2012,
- 19:06and it didn't really take off.
- 19:07And so now they're trying for a third time early.
- 19:11No way.
- 19:11They're doing a launch 3.0.
- 19:13I know. Yeah, launch 3.0.
- 19:14I mean, I don't know why it's completely different,
- 19:16but they'll give it a crack.
- 19:17Anyway, they're going to be able to buy up to 6000 different US stocks
- 19:21on the platform.
- 19:22So that will be exciting.
- 19:25Robin Hood, anyone that doesn't know is like,
- 19:27definitely one of the bigger platforms in Europe.
- 19:30Like it's an America especially.
- 19:31I think most people use Robin Hood, right?
- 19:33It's like the most common.
- 19:34Yeah, yeah.
- 19:35So it'd be quite good to have that accessibility in the UK.
- 19:39Robin Hood itself is actually a public company
- 19:41and it hasn't done very well.
- 19:42IPOed about two years ago.
- 19:45And it's sheer price has gone from about $55 to $8.
- 19:48So it hasn't done very well.
- 19:50Yeah, but anyway, I mean, with trading platforms,
- 19:54they get money from you trading.
- 19:57You know, they want you to trade stock.
- 20:00So if the market isn't doing very well and people are freaking out
- 20:04and they're not investing or they're not trading their stocks,
- 20:07then that's not good for them.
- 20:08Plus, the interesting stat with Robin Hood,
- 20:10only 15% of their users are women.
- 20:13So a lot of men on the wall.
- 20:15Yeah, it's quite interesting.
- 20:16I don't know why I googled that.
- 20:17There's a business opportunity there, I think.
- 20:19Yeah.
- 20:20I mean, it is a very masculine platform, you know?
- 20:23Yeah, is it?
- 20:24I guess it's called Robin Hood.
- 20:26Yeah, you know, Robin Hood is like,
- 20:27still from the rich gift to the poor.
- 20:29Oh, God, wow, she's slow today.
- 20:33All right, must go.
- 20:34I'm going to get my hair blondeers.
- 20:35Oh, my God, fun.
- 20:36You look great next time we record.
- 20:38I'm dressing up for a pudding for a Christmas party tomorrow.
- 20:42And I thought, perfect, I'll have fresh hair for that.
- 20:44Because that's all you're going to see
- 20:46from the whole costume as your head.
- 20:48No, the thing is, because I'm dressing in a really unsexy outfit.
- 20:51I'm literally wearing a round pudding outfit.
- 20:54And I thought, at least if my hair looks nice,
- 20:55I'll, you look a bit cute, do you know what I mean?
- 20:58Yeah, I love you.
- 20:59You go as pair of machines, puddings, the Joker.
- 21:04Have you thought practically like how you're going to sit down,
- 21:06how you're going to go toilet, you know, all that stuff?
- 21:09Because I've been a picture of the pudding
- 21:10and it's literally like a giant basketball.
- 21:13Yeah, I know.
- 21:14I think I'm going to wear like a cute outfit underneath
- 21:17so that when I, the gag is done,
- 21:18I'm going to have a costume change.
- 21:20Oh, you can get out and all slinky on the dance
- 21:22for and be like, oh, big reveal taking off my pudding.
- 21:25Who wants a taste of me?
- 21:30Oh, yeah, why does it sound good?
- 21:32Oh, shit.
- 21:35Thank you so much for listening to The Curve Weekly.
- 21:37Make sure you hit the subscribe button to stay up to date
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- 21:59Bye, bye.
- 22:01Sweet?
- 22:01Yeah, see you next Tuesday.
- 22:03Well, see you next Tuesday.
- 22:06I mean Monday.