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‘I Do’ to IPO: Big Money Moments This Week · The Curve

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Welcome to the Curve Weekly, the podcast that keeps you up to date with all of the money
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business and stock market too.
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Brought to you by the Curve's research team.
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It's the latest insights on what's happening in the stock market, companies, other money
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related news so that you can stay educated and ahead of the curve.
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You can thank us later for sounding smarter than those finance bros you need to know, Patti.
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Hello everyone.
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I don't know what the laugh will cry right now.
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Oh, maybe just deep breaths is good.
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I am obviously missing a very important someone and she's fine.
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Sorry if anyone's worried.
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She's fine. She's just feeling a bit unwell.
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So I was like, you know what?
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I've got it.
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I will jump in and record this podcast.
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Do not worry.
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I will take one for the team and I will solo this podcast.
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Alex Cooper does it.
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I can do it.
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It's fine.
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It's fine.
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Let's just say this is the third recording of this podcast.
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Honestly, I the first time around recorded the whole podcast and then realized
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the mic wasn't plugged in, which was great.
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So it was just no sound.
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Second time around.
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I didn't hit record.
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So let's hope this one works because I don't think I have a fourth one in me.
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I don't think you want to hear the fourth version either.
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So let's hope and I'm sorry, I just keep checking.
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I am absolutely paranoid now.
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Anyway, yes, my darling Sophie is not here and obviously you can see she's instrumental
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to the curve and this podcast because it is the third time I'm recording this.
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Anyway, she will be back next week.
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Thank goodness.
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And I won't have to do a podcast three times.
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And actually, I have got a little someone helping me.
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Well, she's not really helping me.
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She's asleep.
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Me, so it's not a very good co-host.
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But my little friend is keeping me company.
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So you might hear some little barks throughout this podcast.
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Anyway, what has been happening in the stock market finance and investing world?
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Lots, lots, lots, lots, lots.
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Firstly, we have had one of the biggest weddings in the world, really.
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One of the most expensive.
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One of the ones that's probably got the most attention as well.
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And it was the wedding between Jeff Bezos,
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one of the richest men in the world and Lauren Sanchez.
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And let's just put it in perspective.
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Jeff Bezos is worth $250 billion.
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But that is massive.
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And he obviously got his wealth because he founded Amazon,
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one of the biggest companies in the world.
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And he recently got married.
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And this is a second marriage.
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And he spent $50 million on that wedding.
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Six million of that was on private jet security.
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So not just security, private jet security.
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$1.8 million was on 150 white stuff.
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So 150 people, usually that's the size of a big wedding anyway.
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Little on that just being the white stuff.
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$1.6 million on roses.
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So just imagine roses die.
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I'm like, I don't get it.
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$1.6 million on flowers.
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And $2 million on wine.
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Which, wow, that must be a lot of some pretty prestigious
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ventages I can imagine.
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Or else a really, really boozy party.
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And lots of guests getting absolutely frustrated.
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But I just wanted to put this in perspective.
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$50 million is like, it's a shoot.
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Shoot, it's a shit ton of money.
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And I was like, I wonder
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when someone's worth $250 billion.
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What is $50 million to them?
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You know?
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And so I did some calculations, love to make calculations.
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And if you earn $50,000 or $50,000,
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it would be like you spending $10 on your wedding.
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Absolutely, wow.
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Like that is what $50 million is to Jeff Bezos.
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So yeah, he spent $20.
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What is equivalent to $20 to us on his wedding?
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But the big question is, did he sign a prenup?
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And why is this becoming a question?
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Well, not only because he's the richest man in the world,
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but because his previous marriage he didn't.
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So in his previous marriage to McKenzie Scott,
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he was married to her for 25 years.
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And they had a few kids in any way.
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They didn't have a prenup.
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Amazon wasn't really, you know, was kind of like a blip
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on the radar at that point.
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And now it is one of the biggest companies in the world.
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So there was no prenup in place.
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I guess you wouldn't really expect your potential partner
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to be to create one of the most valuable companies in the world.
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But anyway, he did.
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So she was left with a pretty big payout.
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And she got about $35 billion
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which was about 25% of their shared stake in Amazon.
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This catapulted her to be one of the most richest women in the world.
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And people are like, she did nothing.
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And she just got this payout.
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And I completely disagree with that.
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And I think for someone to achieve such wealth,
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like Jeff Bezos, has to have an incredible support
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network around him from family to colleagues
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to everyone, particularly an amazing supportive partner
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that might look after the children
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so that they can go to work.
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All of that kind of stuff helps fuel someone
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to create such wealth like that.
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So to say that she did nothing and got that huge payout,
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I think is, in my opinion, I hate narratives like that.
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Like when people talk about what people got
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divorces and all of that for doing absolutely nothing,
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I think it definitely takes a team
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to create such wealth.
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Anyway, I could hop on about that for either,
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but anyway, one thing I wanted to highlight
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was with that 35 billion, she has given away,
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so McKenzie Scott has given away over half of that
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to charities and foundations.
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So yes, she was catapulted to being one
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of the most wealthy women in the world,
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but she's already given over half of that away.
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And I think this just goes to show that women
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invest with a very philanthropic social lens.
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So we don't want to see, and I'm making a generalisation here,
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some woman don't, but that's fine.
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And also some men do.
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It's just highlighting that women invest
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with a philanthropic and social lens,
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which is really important,
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particularly we've got this global
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gigantic wealth transfer happening about to happen.
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And this is when the boomers have accumulated so much wealth
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over the years, and they're a large percentage
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of the global population now.
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Start to pass away and pass down those assets
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and that wealth, and because women outlive men,
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that is going to be transferred into the hands of women,
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and then transferred down to generation generation.
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Now, the reason I'm highlighting this is that
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it's also the reason we need to get more money
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into the hands of women, because we invest
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with a much more holistic view.
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We don't just want a financial return.
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We want to make sure that money is actually either being
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good for the planet, good for society,
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good for our community.
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Money is power, right?
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Money is you making a decision of the world
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you want to see in the future.
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And so the more money that we can get in hands of women,
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the more of a world that we can create for us,
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and that we are really, really proud of.
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I am so passionate about this, and I just,
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I think with everything going on in the world right now,
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it's so incredibly important to realize
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that your money is a voting power.
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It is a way that you can support companies and countries
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and organizations and industries that you want to see grow
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and prosper and be part of our future.
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And so this actually reminds me last night,
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I went to a alumni event for my school.
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They have them once a year in London,
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and I went along and I was talking about,
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I got asked to speak, which was,
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I felt very honored and privileged,
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and like, because I was not a very good student,
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I definitely wasn't hugely sporty,
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I wasn't hugely academic,
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I was just kind of average student, I guess,
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that's probably just annoyed the teachers
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touched too much.
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Just tried to like get away with stop.
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Anyway, I talk about the curve and the importance of investing,
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and I started feeling super, super passionate about
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we need to get more women educated,
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we need to, in terms of financial literacy,
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we need to get more money in the hands of women,
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and I was about to honestly felt this intense,
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not rage, but frustration with the world.
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And anyway, I could see myself getting all worked up,
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and I was just like, ooh, deep breaths, deep breaths.
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Anyway, it was a really great event,
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and I think it just highlighted the importance of,
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we get emails all the time, right,
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and messages from women saying,
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I was showing you this stuff younger or earlier,
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I wish I, you know, I want to learn this
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so that my daughters know this stuff,
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and are in the same position,
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and so I think it's just really, really important.
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Obviously, when you're listening,
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you are already taking that action,
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but there's anyone else that you think,
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we'll be in a fit from this podcast,
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please, please, please let them know,
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because we really need to change the world right now,
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and we can do it.
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We can do it one person at a time,
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like that saying,
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it's only one straw,
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except two billion people.
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So we can do it.
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Anyway, wow, I really digressed then.
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Anyway, it's not just so-for-night
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that gone tangents is definitely me.
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But anyway, back to Jeff Bezos and his wedding,
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there is speculation that,
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you know, what isn't the prenup with Lauren Sanchez?
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Because they didn't get one in the previous marriage,
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and now surely he's not making the same mistake again.
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And there is speculation that there is,
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I mean, nothing's been disclosed, right?
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It's all speculation,
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but there is speculation that
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Lauren Sanchez had to sign a prenup,
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but it had a signing bonus in it,
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which is kind of like dang in the carat.
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It's like, hey, if you sign this,
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I'll give you like 50,000.
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I have no items pulling up as out of my ass,
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but it's just to be like to help them encourage them to sign it.
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So therefore, you pay away a little bit to protect
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the big of high.
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But, you know, she was carrying a $300,000 in his bag.
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I think she's doing fine.
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At her wedding, that is also another thing about this wedding
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is that not long after,
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it was disclosed that Jeff Bezos had sold
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about three million shares in Amazon.
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So that is about $700 million in value.
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So I think he is on his way to have a very bougie honeymoon
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with all that money.
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Anyway, enough about him.
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We have an exciting IPO coming.
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Figma, it's a competitor to Adobe and Canva.
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And it has filed for an IPO.
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And now, let me break that down.
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So when a company is IPOing,
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IPOing means stands for initial public offering.
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And that means when a company becomes public for the first time.
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So it means that you and I can invest in it.
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It means that it's financials are on show for everybody.
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And Figma has filed for IPO, meaning that a lot of the time
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is just speculation when companies will actually IPO.
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But when they file, they're kind of registering
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with the financial regulators.
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So they're saying, here are financials and we're ready to go.
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So the fact that it's done that means that it's a minute.
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It's going to happen very, very shortly.
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No date yet.
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But it was interesting when it filed, it's financial results.
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Because like I said, this is a competitor to Adobe and Canva.
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Canva is a private company.
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So we have limited knowledge on how it's doing,
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what it's revenue is, what it's profit is.
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But Adobe is public.
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So and Adobe hasn't really had any competitors
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listed on a stock exchange that we can compare it to, right?
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Whereas now it does.
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And so when Figma bought out its financial results
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to the public last week, Adobe's share price fell.
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Now, that to me says there's something in these reports
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or in these numbers that make Figma look better than Adobe.
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And so that's why investors are selling Adobe.
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One of those things is that it's revenue is growing at 50%,
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which is massive, which means that it must be taking share of someone.
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And because we don't have Canva's results,
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we can only assume that it's Adobe.
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The other thing in there is that investors found pretty interesting
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was just like how much it's infiltrated these top tier companies.
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So Figma is now used by a whopping 95% of Fortune 500 companies.
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And by that, I mean, that is the top 500 private and public companies.
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You know how we talk about the S&P 500,
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which is the top 500 public companies.
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The Fortune 500 is the top 500 private and public companies.
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So anyway, it's done phenomenally well.
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And I think it's done a lot better than people expected.
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And that, to me, as an investor, would say that,
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okay, it must be taking share off Adobe.
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So therefore, that's why Adobe's share price has fallen.
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Also, Adobe tried to buy Figma not that long ago.
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And it went to buy it for $20 billion.
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And it nearly got through and in the regulator,
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or like the, I guess they're like competition watchdog,
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was like, actually, if you guys combine
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that's two big players in the kind of design software space,
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we're not going to allow it to happen.
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The deal fell over.
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So yeah, it's going to be an interesting IPO
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because you've got also, you've got Canva in the sidelines going,
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if Figma does really well, we'll be next off the rank.
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If Figma doesn't do very well,
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we'll probably chill out on IPO plans as well.
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But Canva is coming and that'll be a lot more exciting
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and we'll definitely do a deep dive on that when it does come.
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Nothing's been set in stone yet.
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It's all just rumors.
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But one thing I wanted to highlight with this as well is
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this is an interesting time, right?
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Because not that long ago, we were talking about how
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the stock market was falling.
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Things were feeling very, very uncertain.
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We had tariffs.
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We had global growth slowing down.
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We had Trump in power, we still do.
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Whereas now the S&P 500,
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so the US stock market has hit record highs.
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We have reached levels we had never seen before
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with the S&P 500.
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So yes, the S&P 500 goes up and down and up and down.
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But over the long term, it goes up into the right.
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And now we saw a bit of a bigger than we usually do down
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for a four of the stock market in April.
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That is rebounded really strongly and has shot past
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any previous level.
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So things are looking really, really optimistic
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in the stock market right now.
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And that is why we're seeing companies like Figma IPO.
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Because you want IPO, we need friends feeling you
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far, we need friends feeling excited
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and the market's doing really well.
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You don't want IPO when things are falling
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because no doubt if you IPO and the market falls,
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you're sure price is going to fall.
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So this is why when things are going really well
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in the stock market, it leads to this euphoria.
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You see companies IPO and people get excited.
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And this is what we call these bubbles, right?
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And then these bubbles burst.
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And then everyone's like, oh my gosh,
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that's the nature of investing.
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But over the long term, stock markets always recover.
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And this is what we've seen.
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We have seen, it hasn't even been the long term.
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I remember we did a workshop.
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You know, anyone was like a bit concerned,
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which is fair, it's money.
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It's, you know, the stock market.
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And we were just like, you know what,
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sit back, relax.
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What does it keep calm and carry on?
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Because markets always recover.
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And they have and they recovered very, very strongly.
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Anyway, in terms of getting access to IPO's
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Figma or any others, it's actually really hard.
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And it's frustrating because we want to get access
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to these exciting companies, right?
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We want to invest in them.
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We want to invest in them when they're private
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and then when they become public.
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But it is becoming easier to invest in private companies.
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You know, there's platforms where you can do it.
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But it is still quite difficult.
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It's much more difficult than in public companies
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where you just go on and you can, you know,
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buy shares through shares ease or trading to until
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or any platform that you use, any trading platform.
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But also, if you're investing in companies,
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you should be investing in ones that you think
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will grow over the long term.
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So you shouldn't be worried about trying to get
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that what might be like a really strong day of performance,
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the first day that an IPO is or anything like that.
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I can tell you, most IPOs, there is better opportunities
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to buy them down the track if that makes sense.
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So yes, their share price might do really well
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because they're the shiny new toy on the stock exchange.
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But there's always opportunities around the corner.
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And by that, I mean, sometimes their share price falls
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and you get it at a much cheaper price.
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Anyway, if you do believe in the company long term,
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you shouldn't be worried about those short term movements.
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You can buy on day one when it becomes a public company
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and hold it for the long term.
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In other news, we've got a new tax year in Australia.
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And this is important because their superannuation
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percentage is increasing.
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And by superannuation, I mean the pension,
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or the Kiwi Saver in New Zealand.
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And it is increasing from 11.5 to 12%.
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Which is massive.
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This is one of the highest contributions globally
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in terms of percent that they contribute to their retirement fund.
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And Australia has got one of the best
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pension superannuation schemes in the world.
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It's built up a pool of $4 trillion,
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which is 100% of the country's GDP.
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And by GDP, I'm in gross domestic product.
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And that's just a figure or a metric
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that is used to describe the size of a country.
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So the fact that Australia has its retirement funds
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is 100% of its GDP is massive, $4 trillion.
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Whereas if we compare that to New Zealand,
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we have 120 billion, which is 30% of our GDP.
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So we've only got a very small percentage,
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or much smaller percentage in retirement funds
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or in the kind of superannuation pool than Australia.
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But yet 12% is world class.
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And also it's the employer that contributes that right.
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And Australia had not employee an employer.
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So yeah, I mean, I remember when I was living in Sydney,
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I was there for three years.
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I had more in my superannuation or a pension in three years.
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And I did in seven years working in New Zealand.
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So you can kind of see,
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they've also increased their minimum wage in Australia,
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starting this financial year.
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So this is one of the highest minimum wages in the world.
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And you can see why there's such a brain drain
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from New Zealand to Australia, right?
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Like when you're getting four years,
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I was four years ahead in terms of my retirement funds,
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essentially, and all you're getting a higher minimum wage.
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And yeah, you can see why it is an attractive place
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to go and earn and live.
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And other news, Tesla, honestly, I'm kind of sick
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of talking about Tesla, but it does get a lot of attention
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and fair enough.
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It's got a very eccentric outspoken CEO,
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but sales have fallen to their lowest level in three years.
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So people are people and in the people I mean,
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investors are pissed.
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Remember Elon Musk, he's a CEO of Tesla,
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but he's also the CEO of SpaceX,
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his rocket company, X, which was Twitter.
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And he has recently, not anymore,
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but been in, and with the Trump administration and government.
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Those four roles are so time consuming.
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And then when you see one, Tesla,
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where sales have fallen to three years low,
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fair enough investors are pissed.
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They're like, hey, what have you been doing?
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You're obviously taking your RF ball,
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you're trying to juggle too many things.
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And so, yeah, investors are annoyed.
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The share price has fallen.
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I mean, he's not in with Trump anymore.
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He has come out and said to investors,
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look, I've realized, I'm going to spend more time on Tesla.
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But I don't see any sign of these sales turning around yet.
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And as a Tesla shareholder in a Tesla investor,
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I am getting increasingly worried that his
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buddy, buddy, nested with Donald Trump.
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And I know that's broken down now,
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but the fact that he was,
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I think there is a brand damage issue at Tesla.
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And I know it's the kind of the poster child company
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for decarbonization and reducing emissions.
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And they've been able to make electric vehicles
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profitably and all of that.
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And there's so many out there.
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And like it is, there's a massive company, right?
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And I get increasingly worried that there is brand damage
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to the Tesla brand.
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And that is super hard to come back from.
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Even today, people are like Nike,
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oh, no, they use child labor or they use,
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you know, and it's like they tried to shake that scandal
21:49
so long ago, you know, it still wants them.
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So yeah, brand damage is pretty bad for a company
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and pretty hard to, I guess, come back from.
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It's like a bad reputation, right?
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It's really, really hard.
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And the sales figures like this that keep coming out,
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share price keep falling.
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Oh, I don't know what to do.
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It's tough, it's tough, it's tough.
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But two more quick things, Warren Buffett has just announced
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that he has donated $6 billion to a bunch of foundations
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and charities.
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I love Warren Buffett.
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He's so great.
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It's always been a thing that he's said there.
22:23
But all his fortunes that he's built up
22:24
in his investment company, Berkshire Hathaway,
22:27
he is not going to be giving that to his children.
22:30
He's not going to be passing it off to them,
22:32
which I kind of admire.
22:34
Like you've got one of the wealthiest men in the world,
22:37
who is like, no, my children are going to work
22:41
and make their own wealth and not just
22:43
be given the fruits of my labor.
22:46
Anyway, so he's donated a whole lot of money,
22:49
billions and billions of dollars.
22:50
He's donated about $60 billion over the last 20 years
22:54
to a whole lot of foundations.
22:56
And the main one is the Bill and Melinda Gates Foundation,
23:00
which tackles things like global health, poverty,
23:04
education.
23:05
But in particular, he has Warren Buffett
23:08
has supported a lot of foundations
23:11
in the space of the woman's rights and fertility and all
23:14
of that.
23:15
So so great to see that, even though I said that women
23:19
invest in this way, that there are some really, really great men,
23:23
very powerful, wealthy men that also invest in this way
23:28
and support charities and foundations
23:30
and do good with their money.
23:31
Lastly is Glacenbury.
23:33
So another reason I want to cry is
23:37
that I didn't get a ticket to Glacenbury.
23:41
I thought I had one, and then I didn't.
23:44
Anyway, I am very gutted about not going to Glacenbury.
23:47
I went last year, and it was so fun.
23:48
And anyway, the numbers have come out
23:50
in terms of how much the festival makes, how many people
23:53
are teemed at.
23:54
So winding back the clock.
23:57
Glacenbury started in 1970, 55 years ago,
24:00
and it had 1,500 people attend.
24:03
Which pertains quite a lot.
24:05
Anyway, everyone paid one pound.
24:07
They paid one pound to get into Glacenbury,
24:10
and they got a pint of milk with that one pound,
24:12
which is very cute.
24:13
And this year, over 200,000 people attended,
24:15
and they paid about 400 pounds of ticket,
24:18
which is a lot of money.
24:19
And anyway, it is expected that the festival
24:22
made about 80 million pounds this year.
24:24
And it's been quite contentious because there is this,
24:29
I guess, charitable side to Glacenbury.
24:33
And the very conscious of their impact on their surroundings
24:37
in terms of the community, the land, and all of that.
24:41
But it still made a profit of about 5 million pounds.
24:46
So it is still, quote-unquote, a business.
24:49
Anyway, there's been a few headlines
24:51
that have been a bit pissy because I don't think they pay
24:54
the artists very much.
24:55
And they're like, you know what?
24:57
You're making 5 million pounds in profit.
24:59
You can afford to pay the artists, but yeah.
25:01
Anyway, I guess there's a status thing
25:03
of playing Glacenbury as well,
25:05
which is what helps draw in these top artists
25:08
rather than just the monetary value.
25:10
Like, I think I remember Taylor Swift.
25:12
She was made billion dollars from her tour, right?
25:14
But otherwise, it's like, you could make,
25:17
I think it was like 200 grand from Glacenbury.
25:20
That's why we've run as asked why she's never done it.
25:23
But anyway, I didn't contribute to any of these figures
25:26
because I didn't go.
25:28
But hopefully we'll be there next year.
25:30
Oh no, there's not on next year.
25:32
Anyway, hopefully the year after.
25:34
But anyway, I'm absolutely exhausted.
25:37
This is now the third time during this podcast.
25:41
I hope it was worth it.
25:43
I hope you enjoyed it.
25:44
And don't worry.
25:47
So for we back next week, you'll have both of our voices
25:51
and yours.
25:52
And yeah, I hope your friend has a great week.
25:56
See you next week.
26:00
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26:02
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26:24
Bye. Bye.
26:26
So yeah, see you next Tuesday.
26:28
Well,
26:31
see you next Tuesday.
26:31
I mean Monday.
26:33
No, actually though, new episodes out every Tuesday.
26:39
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