Latest / The Curve / TCW97: Elon Musk's $56 billion at stake & why diamonds are currently NOT a girl's best friend.

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TCW97: Elon Musk's $56 billion at stake & why diamonds are currently NOT a girl's best friend. · The Curve

• 0:00
  Welcome to the Curve Weekly, the podcast that keeps you up to date with all of the money
• 0:04
  business and stock market too. Brought to you by the Curve's research team,
• 0:07
  that's the latest insights on what's happening in the stock market, companies,
• 0:11
  other money related news so that you can stay educated and ahead of the curve.
• 0:15
  You can thank us later for sounding smarter than those finance bros you need to know, Patti.
• 0:19
  I had a matcha in a meeting the other day. Oh, but everyone must be listening like,
• 0:23
  oh please don't want a matcha again. No, but I took the last sip and you know how they
• 0:27
  have a lot of the matcha at the bottom of the car. I took the last sip and then kept talking
• 0:30
  in the meeting and it was like, green and I felt like shriek and I was like, oh wow, oh wow.
• 0:36
  And it's all grainy. Which meeting was this? Was it an important one? No, it was a funny one.
• 0:41
  Okay. We also had a meeting yesterday and the guy I loved his honesty, he was like,
• 0:45
  sorry I'm like I was just looking at my Spotify wrapped. I loved that. And then I want to
• 0:50
  be like hold the phone, I want to look at mine. It was like, what was your top song? I'm so
• 0:55
  predictable. It's boring. I know me too. Actually, I got the worst.
• 0:58
  Taylor Swift, do a leap of thread again. Oh, we did a little bit different.
• 1:03
  My top artist was Gracie. Gracie Abrams.
• 1:06
  Oh yeah. Charlie XX Ed Sheeran, Taylor Swift, Justin Bieber.
• 1:10
  So just a bit of it. Like, come on Sophie. Wow. Yeah. July was your fan life beach Australia in
• 1:17
  D season. Mine was like, yes, I don't really happy and then it went real deep and then like,
• 1:24
  you know, it's like quite an emotional roller coaster. Like, if off Spotify, I'm like, I don't
• 1:28
  want to remember my emotional roller coaster. What was going on at that time?
• 1:30
  I'm like, emotional roller coaster with my October with my Indy Sleez Strut pop moment. Sleez Strut.
• 1:37
  It's so true, I was really like. We should do an investment's one. How much money you put in,
• 1:40
  what you invested in, what's done, what's your idea. Yeah. Can you come up with this
• 1:44
  shirt in advance, Blaze? I think I came up with it last year. It's too late. And maybe you could
• 1:49
  do yours and I could do mine. We could do like the curve. Yeah. Well, that would be quite fun.
• 1:54
  I really liked it. I found myself watching, you know, like all the fun graphics on it. Yeah.
• 1:59
  Going out to the side and I was like, whoa. Yeah, it was yours top podcast, the curve. Yeah,
• 2:04
  quite embarrassing. I was like, that's quite an auspicious thing isn't it? I think I would like to
• 2:07
  talk about something before we get into the news stuff. Am I in trouble? No, you're not in trouble,
• 2:11
  not at all. No, I'm in trouble. I'm really annoyed at myself because what have you done?
• 2:16
  It's quite interesting. Ever since we started the podcast, by the way, if you're new and you're
• 2:20
  listening and you haven't listened to some of the earlier episodes, definitely do because it was
• 2:24
  kind of like back when I was a beginner mindset, you know, I didn't know what the stock market was.
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  Whereas now you're intermediate girl. Yeah. I'm just so good with my money now. No, I'm not yet.
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  But I hear a lot of our community saying things like I just like psychologically struggle to
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  invest if like I didn't invest in something and then it goes out and then we still want to
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  invest in it like Danny, who works with us at the curve, she felt like that about in a video
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  because she was like, oh, damn, I feel like I've missed it, blah, blah. Anyway, I hear a lot of
• 2:56
  people talking about this and I'm now experiencing the same thing for the first time and that is that
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  I have this massive photo about the fact that I've missed out on investing in crypto because it is
• 3:10
  going up and up and up and up and I'm so desperate to jump on the bandwagon but I know it's
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  a bad idea. It hit $100,000 for the first time this week. I'm just so annoyed because I know
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  we're not about timing in my business because if I put $2,000 in three weeks ago, I probably have
• 3:30
  $3,000. Okay, well hindsight's great. We could use that with anything in life. But if you were taking
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  an objective you now and you took that $2,000, what would you invest in? That's the way you need
• 3:42
  to reframe it because you were always going to miss out on opportunities. We're never going to
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  get them all right. But I think the thing is the reason I feel annoyed mostly is that I do understand
• 3:52
  the basics of crypto. I understand why it's going up. I really believe it's going to be a part of
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  this. Like, I don't know how to explain it. It's just I was just lazy. Well, it was just that I was
• 4:03
  lazy and I didn't go and make the actual investment. And I think that's what the Curve Worklies
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  are all about. We talk about things. When they're not necessarily big public taxi driver talking
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  about it, you know. And so I really think that almost needs to be like actionable at the end of
• 4:18
  the Curve Workly or something. Or maybe we need to set ourselves like a date every month that we
• 4:24
  look at our investments and we just reassure it's like some kind of action point because learning
• 4:28
  about where you want to put your money and understanding investing is one thing. But they're not
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  going and doing it. It's just annoying because I knew that that was a good idea and I should have
• 4:38
  done it and I didn't. So now I'm just saying. So going back on what you said that you think that
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  Queen's going to be part of the future and everyone's going to use it and all of that. We could be
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  sitting here next year and it's at 200,000. Right. So if you do think that way, then you would still
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  be investing today like regardless of what the price, what it's historically done. Another thing is
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  I agree. We should not have sold. I mean, it's so easy to say now. But we nearly doubled our money
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  when we invested. We should have just left it in. And we were like, Woohoo! Oh my god, let's sell.
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  But we didn't need the money. We didn't have an investing goal that we were investing for.
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  Yeah. We didn't have like a time frame. And so yeah, this is kind of like,
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  shit, you didn't take your own advice. Because what would it have been now?
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  I mean, we took it out. We took it out in May last year. It's doubled since then.
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  And that's the same with the way prices. You know, if you invest in a company that you really
• 5:34
  believe in, you double your money but you're like, oh, or you make a really great return.
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  You're like, oh, I actually just want to take this out. Just have a second thought around,
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  I mean, that's great if you have done well out of an investment. But just think,
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  you know, if I had a five-year goal and I've only left it in for two or, you know,
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  I'm putting it in there to a retire. But I want to take it out now because it's done so well.
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  You know, you put this out on a whole lot more. I think what I want to do though is I want to
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  start having fun money that I invest, that I don't have a goal for. You know, a small amount
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  that's not going to stress me out. But like, I like actively investing. I like the idea of
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  putting some money in Bitcoin. And I don't want to necessarily be like, have I reached my goal
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  of being a pop plant? I'm going to take my money out now. Like, no. You know, like, I like to be,
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  I like to be involved and I'm learning so much. And I feel like I'm across what's happening
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  enough to be able to make some decisions that are based on what's happening in the world.
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  Like, yes, I have money that I want to leave it until I'm 60. But I also want to have money
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  that I'm investing in a way that's a bit more like fun and active. So I think it just, I don't
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  know, I just feel a bit effed off. I'm so annoyed about it. But don't you think that's kind
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  of a fun idea? Like, even if it's 5% of your investing money. Yeah. Because, yes, you don't
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  want to be timing the market and pulling your money out, putting it in all the time. But it makes
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  you stay active with what's going on in the world. Yeah, I don't want to just be set and forget.
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  I don't want to just invest in the S&P 500. Like, the top 500 companies in the US and just constantly
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  do it and have no, hmm, I think it depends what your, what your intention is. If you're wanting to
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  grow your wealth and there's strategies and ways to do that and investing in the S&P 500,
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  putting a little bit away each week, each month and watching that compound and grow.
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  Or is it that I just want to be involved and I want to invest in things that, despite my
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  interests, that I think will do well or is it a combination of the both? And that's, that's fine.
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  Yeah, I think what I might do is I might give myself some kind of weird rules like,
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  money that I've put aside for, say, triveling or for things that I don't need. They're not things
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  that I need to spend money on. Yeah. And maybe I invest that and, you know, like, if it's doing
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  badly, obviously, I'm not going to pull it out to go and use it on travel. But if it is doing well,
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  it's like, oh, okay, I can have a bit more of a bougie holiday that went well. I think the other
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  thing is to remember though, if it doesn't do well. Well, that's what I just said. I wouldn't go on
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  a holiday. I would have to know that I'm sacrificing money that I could spend more things now.
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  Yeah. Okay. With the added bonus of being able to maybe book a hotel instead of a dirty
• 8:14
  earbent. Dirty earbent? I'm about to get my period as you might be able to tell. You had just
• 8:19
  done it with dirty earbings, haven't you? Yeah, I'm going to Paris this weekend with my sister and
• 8:24
  did you book an earbent? And I really was pushing for booking.com or like a hotel?
• 8:29
  Did you have some shopping? No, because you can't. It's on the UK. Or just be like, Mike, can you
• 8:33
  book me? Oh, it's such a good idea. Hi, Dad. I promise I'll pay you back. Your daughter that you haven't
• 8:39
  spoken to in weeks. Actually, I've just got a favor for you. The amount of times in the last month,
• 8:43
  I've been like, Mum, these tickets go on sale. Can you? She loves it. It's so funny. She was like,
• 8:49
  all over it. Did she get one? Oh, I lane. No, but yeah. She also asks way to many questions.
• 8:56
  No. She's like, well, who are you getting them for? I need the names.
• 8:59
  I'm a big stretcher. I'm like, Mum, just let me know if you get through then. We're actually trying
• 9:02
  to find a studio for one when we're in New Zealand across December in January. And honestly,
• 9:08
  the cutest thing ever. So Vic had this starting idea that her parents have a spare room in their house.
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  So I was like, we get her to send like a video so that I can see what it looks like and can hear
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  the audio. And then can we play it or will she kill us? She'll probably kill us. She's like, no,
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  I have to. She's done a selfie video. Here we go. So anyway, we're trying to find a studio
• 9:42
  for my home. If anyone knows of any good spots, please let us know. It was funny. So we couldn't.
• 9:47
  Me and my dad were going to go on a Japanese holiday. She's coming now. We were going on the
• 9:51
  way back from Auckland to London and we're going to go on a ski trip, super special. And then
• 9:56
  my sister's like, oh, I want to come because that's quite special to go with Dad. He's quite old.
• 10:02
  He might not be skiing for much longer. And then Mum's like, well, I want to come now.
• 10:06
  It's so cute. We've got a family holiday. We haven't had a family holiday in like, I can't
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  even remember. I think we went into school or like beginning of the union. It's not even the part.
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  It's so special. But then half an hour of Mum saying she's coming. It's like,
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  spreadsheet, central. She's got the costing. She's got like, sounds like someone I know.
• 10:28
  Me and my sister and my mum and Dad have different versions of like.
• 10:31
  Oh, hot of accommodation. Oh, I can. I actually, with my Paris Weekend this weekend,
• 10:39
  there's a fold out bed, like a selfie bed and then the double. I was like, Lucy, we can't
• 10:45
  stay in the same bed. Like, we will just bed. We scarnish. No, it's like, you know, when you're like,
• 10:50
  I don't know. It's four. And I just say, anyway, so she's blessed her heart. She's going to be on
• 10:56
  the couch because I'm decided to be a princess. And I'm like, if I send you a gift to it and you'll
• 11:02
  be there. No, you'll be like, oh, come on, come on. No, I won't. I hope she doesn't listen to
• 11:07
  that. She'll get false hope. Okay, let's get on. Oh, you just get drunk and she goes home first,
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  isn't it? I would do that. Oh, speaking of holidays and Christmas, there is a time right now in
• 11:24
  the stock market that is called the Santa rally. And what that means is like, there's like, we get
• 11:31
  presents and gifts for each other, but the stock market also gives us a gift. And over the last
• 11:36
  73 years, that the last month of December has done really, really well, 80% of the time.
• 11:43
  So people are like, what's really, really well? Well, it's growing about 1.4% for the month
• 11:49
  on average. Are we really getting excited about 1.4%, but I mean, like, historically, like, that's,
• 11:56
  that's for the last 73 years. So you put $10 and you get $1 in the whole month? No, it's just saying
• 12:04
  that. I'm just talking about Bitcoin and like, could dropling our money in a couple of months
• 12:12
  and then it goes up 1% in December. Okay. It's just, I'm just saying that December is usually
• 12:20
  good months for the stock market. So for anyone who like Sophie is pissed off that she missed out on
• 12:26
  a holiday of returns, maybe now is the time to start your investing journey because historically
• 12:32
  December has been a really good month. Oh, like, isn't getting now because if there's people
• 12:37
  still sitting there going, it's all made to do this. Like, get in now because as we've seen,
• 12:43
  the stock market goes up 80% of the time in December. In your notes, you have
• 12:49
  Salon May and Go away. Yep. The October effect. What are you talking about? Salon May and Go away,
• 12:56
  it means that usually May is not a good time for the stock market. The Santa Rally December is
• 13:03
  a good time. The October effect is usually a good time as well. So there's all these things
• 13:09
  that go on in the stock market. Oh, we should make like a calendar to like hot women or something
• 13:14
  and then have like what happens in the stock market generally that month. And it's usually around
• 13:20
  holidays as well as like tax, tax year end people like want to sell lost making stocks so that
• 13:28
  then they can like get the tax right off. There's all these things that go on. So if you made a loss
• 13:32
  and you don't have to pay tax on it, so there's lots of nuances that go on. But what I'm saying is like
• 13:39
  there are so many things like this that go on in stock market, but this is just why like dollar
• 13:43
  cost averaging and just investing throughout and not try to time the market is a really, really good
• 13:48
  idea. But if you haven't started investing, maybe you should. Maybe you buy yourself a Christmas
• 13:53
  treat a little, you know, 50 pounds, 50 dollars into the stock market and you just do real simple
• 14:02
  SMP 500 and just see what happens or five. It doesn't matter. Just a small amount because especially
• 14:08
  if it's traditionally like if you're feeling skeptical or a bit nervous, but it traditionally
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  does well over the last 70 to three years. It's a good like. Yeah. It's gone. Yeah. Because I do
• 14:18
  think for me that was what really got me excited was as soon as I had a good result, like I got
• 14:23
  made money. I was like, I want to know. Yeah. Cause it, and I know it's like addictive, but it is,
• 14:29
  it's like, it's, yeah, it isn't dolphins. It makes you feel good. You're like, it's like, how fun?
• 14:33
  Yeah. I know you don't want to talk about this. Yeah. But Black Friday, I just wanted to say,
• 14:39
  I told that before we recorded it. I'm sick of talking about Black Friday. Well, I just made
• 14:42
  my news feed and everything, my emails. I'm in such a bad mode. I'm sorry. I think such a
• 14:48
  negative Nancy on the whole Santa Rally Christmas coming instead of playing into consumerism
• 14:55
  and Black Friday. I think a really good gift and a gift that keeps on growing is
• 15:05
  to buy shares for someone. I agree. The only problem I had, like I've done this for my
• 15:10
  Goddaughter. Yeah. She's turning three. Hmm. She thinks I'm a shit Godmother because she just
• 15:16
  give her like, you know, she doesn't know. Can you remember what you got at three as presents?
• 15:20
  I know, but I'm really, I'm trying to be the cool Godmother. I know. There's a lot of competition
• 15:25
  in your household as well, like who gives the best presents to the nieces and nephews.
• 15:29
  Yeah. What do they run off with at the end of the day and play with? You know what? I'm willing
• 15:32
  to burn in that pain because then when they're older, they think you're so much cooler.
• 15:37
  Yeah. Yeah. Yeah. And you're going to be the like cool auntie that was pretty switched on.
• 15:44
  Yeah. And they're going to be thinking you're a friend and they're traveling around Europe
• 15:48
  with like a whole bunch of friends and they'll be like, yeah, my Godmother set me up for life
• 15:52
  when I was there. Yeah. Yeah. Yeah. Yeah. Yeah. And they'll be like, oh my God, I wish
• 15:55
  mine did. I only got like buckets and spades. Spades. Anyway. If you are really not wanting to
• 16:01
  play into consumerism and you want to buy something else and want to get creative,
• 16:05
  you can, there's like vouchers for trading platforms, there's stocks that you can buy.
• 16:09
  Yeah. Lots of fun stuff. Uber. Uber's in trouble. Now, I'm going to actually just while we talk
• 16:15
  about Uber, just because I'm so intelligent and switched on, I am going to be an active participant
• 16:23
  in this conversation and look up what the share price is doing. No, it's done very, very well.
• 16:27
  Sorry, just to see you thunder. Yeah, well, it has, but I thought that we were about to talk
• 16:31
  about it doing badly. Well, it is in trouble because of its difficulty to cancel its Uber one
• 16:38
  subscription. So what's Uber one? So it gives you like member discounts and it's like, it's like
• 16:44
  Amazon Prime, which I canceled mine the other day. I was so proud of myself. But then I went on
• 16:49
  to try and buy things. I was like, upgrade to Amazon Prime. It's so annoying. Just give me a
• 16:53
  carabiner for my keys. That's the highlight. The carabiner. You know, mountain carabiner.
• 16:59
  That's the crampoff. I wanted to get a carabiner back to Uber, but Amazon Prime, like when you were
• 17:04
  like, oh, I tried to cancel it. It's like, and they make the orange button. The one that's highlighted,
• 17:10
  that you can't cancel it, like, that's most actually on that. If you haven't already, last week,
• 17:16
  we put an episode out with Sam Rosenberg and she was talking all about consumer behaviour,
• 17:21
  because she used to study this basically, like, behavioural economics. It was really interesting.
• 17:26
  If you haven't listened to that episode, we talked quite a lot about that. Well, this is what
• 17:29
  Uber's in trouble for, is the people can't cancel it. And they're also signing up without realizing.
• 17:37
  So really, 25 million people have done this to their signed up to Uber one and it offers discounts
• 17:46
  on Uber's Uber fees, zero delivery fees. Yeah. I should do it, actually. I know I was about to say,
• 17:52
  you'd get the most out of this. But, yeah, the Federal Trade Commission, who's like the big police
• 17:58
  dog in the US, has come down, being like, that's not fair for consumers. You're making it very
• 18:03
  easy to sign up, such people don't even know they're signing up. And it's so difficult to cancel.
• 18:08
  You need to change your practices. What I read from this, though, was that this is a really good time
• 18:13
  to check in and see what you actually have subscribed to. There's some things that sometimes I'm like,
• 18:18
  oh, I just want to read this free article. I'll sign up too. I did that shit all the time. You know,
• 18:22
  maybe like a Wall Street Journal subscription. And then I get pinged like a year later. And I'm like,
• 18:27
  oh, and so I think it's a really good time. You can go into your Apple. Can I just do this at the
• 18:31
  same time? I actually don't think I know how to do this. So I go, we're into the settings and go
• 18:36
  into the search. If you are listening and you have your phone available, do it right now.
• 18:41
  Okay. So we go, we're Apple subscriptions. Yes. Pipe and subscriptions. This is the only ones you've
• 18:46
  done on your phone. So if you sign up for anything like online, so like news publications or something.
• 18:50
  Okay. Yeah. But it's just a good time to go through. Sit down. Do it in five minutes and think,
• 18:55
  okay, what have I signed up for? I like that. Yeah. It's clever. Yeah. I've recently,
• 18:59
  I know I've talked about this so much. If I was like, shut up. I've recently been taking
• 19:03
  new materials. No, I've been taking my budgeting way more seriously. I've been really making
• 19:09
  effort to like sit down and look at what I'm spending. And it's so empowering. I'm loving it. I'm
• 19:14
  kind of gamifying it for myself. When I was going through my account, I found a so much
• 19:20
  shit that I didn't realise I was paying for like, even this like stupid membership that I bought,
• 19:25
  which I wish I hadn't for a gym, but I'm definitely going to cancel because I never use it. I saw
• 19:29
  all these other random charges like 14 pounds, 7 pounds here and there and I was like, what's that?
• 19:34
  And I went and asked them when I went in and they're like, oh, we're not sure. You probably should
• 19:38
  check that out. But it makes me think like the amount of stuff that probably I pay for that
• 19:43
  realising it. Yeah. If you feel afraid to look at your accounts, almost do it as a bit of a
• 19:49
  if you like, as in, no, I'm going to figure out who's like trying to pull the wall over my eyes.
• 19:53
  Yeah, or friends are like, yeah, I pay you and then they forgot. I just have always been so
• 19:58
  trusting with that kind of thing. Yeah. And I decided not to be. I actually had a credit
• 20:02
  card when I was younger and I didn't check the balance that often. And I was getting charged like
• 20:09
  it was like a dollar, two dollars, three dollars. Like it wasn't enough for me to notice. But it
• 20:13
  happened for over six months. And I think it was like a couple hundred dollars by the end of it.
• 20:18
  And I went to the bank and I was like, what is this? And they were like, we have no idea but we
• 20:22
  can block it if you want. And it was like, I was googling and I was like, what have I signed up for?
• 20:27
  And anyway, it was like these goji berries or something like it was a total scam.
• 20:30
  And but they said they can only, they could only go back for like two months. They couldn't
• 20:37
  credit me the whole six months or something. And I remember being so pissed off with myself,
• 20:41
  it was a really big learning curve because I was like, I never want to not look at my statements
• 20:47
  monthly and know what every single transaction is. I think it's given me this new excitement to
• 20:53
  be more across when my money's going. Okay. On to the next. Diamonds. Oh. Do you have diamonds?
• 20:59
  Do you buy? Oh yeah, you've got your family diamonds. Yeah. One for one ex-boyfriend law.
• 21:05
  I only have one diamond ring and one of the diamonds fell out of it. God, we've had a lot of
• 21:10
  non-finance shit on this book. Sorry, sorry. It's because like holiday. Doesn't it feel like
• 21:15
  the end of the year right now? Yeah. He's giving up. No, I don't feel like that. I wish I did.
• 21:22
  Okay. Anyway, diamonds, diamonds, diamonds. At the moment, they're not your investing best friend.
• 21:26
  So diamonds are not a girl's best friend? No, they are not doing well. We've had this big kind of
• 21:32
  luxury slowdown. So a lot of the names like LVMH and like Kering, which owns Gucci, like a lot of
• 21:39
  those brands have not done well. And it's all because of the slowdown in China and Asia is one of
• 21:46
  the biggest markets. And we're starting to see that flow into the diamond market. So to be
• 21:51
  as they are the world's largest diamond producer and they're actually owned by a London
• 21:57
  Lister's company called Anglo-American. It's a $33 billion mining company. But anyway,
• 22:04
  the world's biggest producer of diamonds is now cutting the price of diamonds. They haven't done
• 22:09
  this like. Oh, amazing. I can get a chip diamond. Well, yeah, it's only 10%. But 10% on like a 10
• 22:15
  thousand dollar diamond, I guess would be quite a lot. It's a great time to be getting engaged by
• 22:21
  this answer. Yeah. So if anyone out there has been thinking about dropping a knee, now's the best time.
• 22:25
  Oh, I know how I should message. Oh my god. I hope you subscribe to this book. I hope you're
• 22:33
  not. Debeers has been known to restrict supply. So they will mine diamonds and harvest diamonds and
• 22:40
  keep them and not put them out to the public or sell them to keep prices propped up. So they've
• 22:46
  artificially restricted supply in order to keep prices high. They are now cutting prices. Like
• 22:52
  diamonds on sale is just not a thing. And so this just goes to show like people have been hit by
• 22:58
  the super high inflation. And then also China, China's just not spending. Finally, we're starting
• 23:04
  to see this super high inflation. People's, while it's a tight, people don't have as much
• 23:08
  discretionary income. And so they're not spending money on diamonds. And the way that we increase,
• 23:14
  we get people to buy things is to reduce the price. I was just looking at the most expensive
• 23:19
  diamond in the world. The pink star diamond sold for 71.2 million. Wow. In Hong Kong and in
• 23:27
  auction in 2017. I wouldn't mind a green one, an emerald. I like the yellow diamonds.
• 23:34
  Oh, yeah, yeah, yeah. But yes, this is one of the deepest and most prolonged slumps and
• 23:40
  decades is diamonds. So Tiffany and Clow is probably going to be feeling it as well. So they're
• 23:46
  part of LVMH. So yeah, not good science. They own heaps and different brands. They own tons
• 23:52
  of different brands from like champagne to clothing to diamonds to handbags, everything.
• 23:59
  But this is a good example of why LVMH is very diversified because they have the heaps
• 24:04
  of different brands. Like handbags might not be doing super bad right now, but if diamonds are,
• 24:08
  it's not the exact choice. It's just like diversifying your investments. If you had just
• 24:13
  invested, say Tiffany and Clow was publicly listed and that was just that one company,
• 24:17
  it wouldn't be doing very well. But because it's part of a bigger company with lots of different brands,
• 24:22
  kind of it's small enough that doesn't move the needle. So love that. And then lastly, Elon Musk.
• 24:29
  Gosh. I'm not sure if you remember this conversation about a while ago. Elon Musk was
• 24:35
  expected to be paid about 56 billion dollars because of certain milestones that hit with Tesla.
• 24:44
  So it's hard to remember this. And there was heaps of people being like, no. Yeah. And it's like,
• 24:49
  they, and you were saying, I think it's totally fair. Well, they put in these absolutely
• 24:54
  ridiculous targets and he blew them out of the car. If that's how he's motivated and he made all
• 24:59
  these incredible targets, it's super to not then be like, actually, yeah. And it's when Tesla's
• 25:05
  share price was in a terrible terrible state. And it's now absolutely thriving. Then there was
• 25:11
  a big uproar being like, no, that's absolutely barbaric that you would pay the CEO of a company,
• 25:16
  56 billion dollars. And it is a shitload of money. Yeah. And so it went to court. And then
• 25:22
  they're like, you can't get out of that. If you said that you would pay them and he's done the
• 25:26
  thing, it's like saying, here, pay five dollars for this packet of chips. And then they're like,
• 25:31
  kidding, it's actually 25. You're like, what? You're like, no, no, the sign says five dollars. Exactly.
• 25:36
  It's like, no, no, the contract said if I hit these certain milestones, financial milestones
• 25:41
  with Tesla, I would get paid ex amount. You signed it. You have to agree to it. So fair. But the
• 25:47
  judge has knocked it back and said that the board was influenced by Elon. So the board put it through
• 25:54
  because they're represented terms of the shareholders. And they're saying that they were influenced by him.
• 25:59
  And he probably knew he could hit them and all of this. So it is the largest executive compensation
• 26:06
  ever in history. And the previous one was Elon Musk's pay in 2012. Oh my god. So he's like,
• 26:14
  he's blowing out of the park his own previous record, but he is worth 400 billion. I was about to
• 26:18
  say how much does he have? 400 billion. So I mean, it is a bit of a dent, 50 billion, but he's
• 26:24
  still got 400 billion. So he's not doing too bad. But the board is saying he deserves it.
• 26:29
  Well, the board sounds like they're under his thumb. Yeah. But whereas the judge is like,
• 26:33
  no, sorry. So I assume he's going to fight this again. And I would probably be like taking this
• 26:39
  to the supreme supreme supreme. If it's 50 billion, I'd be like, he's one billion to fight it.
• 26:44
  Quite amazing. I don't know why I'm so fascinated by this guy. Yeah. I think he's very
• 26:50
  smart. If I was sitting here so often, I was like, I reckon the curve is going to be billion dollars.
• 26:54
  It's going to be billion dollar business by Christmas. And you'd be like, what do you have a
• 26:59
  book? And I was like, if it is, I want you to pay me 100 million, you'd be like, yeah, sure.
• 27:05
  You know, but if I had that drive and determination to make that a success,
• 27:12
  surely he had to fly through with your, no, but it's so different. If you knew that there was
• 27:17
  like a 50 million dollar deal, it was about to come in that I didn't know about. And you were like,
• 27:22
  okay, I think it's me with this and I have no understanding. And you would obviously know
• 27:27
  what's coming. Yeah. And what's possible. And I didn't. I think that's a bit like, it's just,
• 27:33
  yeah, I just feel like, well, so he's created these businesses that worth that much.
• 27:38
  He kind of is, isn't the right to pay himself whatever he wants. He's running SpaceX,
• 27:43
  Tesla X, which is, was Twitter. And he's got his own AI company. And now he is, he's part of
• 27:50
  the White House in terms of Trump's right hand men and woman. Uh, so I'm, yeah, I have to say,
• 27:58
  how, how, how do you have enough time to also be a father? Like, do you even sleep? No, I don't
• 28:03
  think he's a father. I think he has a bit of an absent, absent father. Yeah. Um, anyway,
• 28:07
  that is all I've got for you. And he gets lonely as a child. He had no friends in school.
• 28:12
  It's a teenager. He followed his sister to parties and clubs to avoid the loneliness.
• 28:17
  If you haven't read his book, it's really, really good. Okay. Back to the podcast. What's your
• 28:22
  financial flex? My financial flex is canceling my Amazon Prime. I've got one. What?
• 28:28
  You're going to make me do an episode on this. I just know it. What is it? I um, move my mortgage
• 28:33
  from ANZ to ASB. Oh, yeah, yeah. But why are we doing fist pumps? Oh, because they gave me,
• 28:39
  you get like, for doing that, they gave me a couple of thousand dollars. It's like a thank you.
• 28:43
  Is that normal? It sounds like a, yeah, no, it's called a cash contribution. So it's usually
• 28:47
  used to help pay the lawyers fees and stuff. That's why I bought cross-mances this morning for the
• 28:51
  office, because I could afford. No, not interesting enough to make an episode. Yes.
• 28:58
  And we've got some very exciting news. If you've got to the end of this podcast,
• 29:01
  congratulations. We've got a deal for you. We've got to, do we have a deal for you? We have been
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• 29:15
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• 29:21
  a link in the show notes. Great gift for Christmas. Oh, yeah, it is. It is. It's also very affordable.
• 29:26
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• 29:54
  and see you next Monday. Bye. Bye. See you next Tuesday. Wow.
• 30:00
  See you next Tuesday. I mean Monday. No, actually though. New episodes out every Tuesday.
• 30:11
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• 30:15
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• 30:20
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