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TCW59: Tik, Tok, Boom. · The Curve

• 0:00
  Hi and welcome to the Curve Weekly. The podcast that keeps you up to date with all the money,
• 0:06
  business and stock market tea. Everyone should experience for us at least once in their lives
• 0:10
  and Annie shouldn't miss out just because she can't afford it. Help me, I'm poor.
• 0:15
  You know how we recently joked about is there an airline that would want to sponsor us?
• 0:20
  No, no, no, no, don't get excited. So if you just always pull through with like
• 0:25
  the e-fic shirt. So I'm not. Now I know to like aim high.
• 0:29
  But it's so I have just arrived in London. You could get a private gym company
• 0:33
  this once or once that would be. Oh God, the fact that you think I can do that is like,
• 0:38
  I pay by believing you. Yeah, wow. No, so I've just landed in the UK and my flight over,
• 0:44
  I honestly the weirdest thing ever happened to me just before I left. I started getting all these
• 0:50
  bizarre insect bites which New Zealand you don't get. There's nothing like lethal in New Zealand.
• 0:55
  Like you could lie in a field for a week and not get bitten by a snake or a spider or
• 0:59
  do you know what I mean? Yeah. Anyway, I got bitten by some fucking red. I don't know if it was an
• 1:04
  ant or a whatever. Anyway, it doesn't look like a fucking ant. I'm sorry. So disgusting.
• 1:10
  It looks like I have. So I'm like, I was like, how is it baby? She said, good, look at it. I'm like,
• 1:12
  no, no, don't need an update. I don't need an update. I just don't need visuals. Just a verbal
• 1:17
  update is fine. Thank you. I was thinking about this last night. I was like, I should stop
• 1:21
  showing people because they'll think that I was, it looks like I have bedsoars all over my body.
• 1:25
  Anyway, the point is I got onto the plane. I got onto the plane. I was like, goodness,
• 1:30
  this is an audio podcast. I'm trying to pull my top down to cover it up in the video. But
• 1:36
  anyway, I got onto this plane. I was flying in New Zealand. Yeah. And I had a cup, like a paper cup
• 1:41
  with ice in it against the side of my abdomen with the worst one once. And the air hostess was like,
• 1:47
  are you all right? Do you need some ice? Do you need some? And I was like, actually,
• 1:50
  yeah, that would be really helpful. And she smiled at me. This really kind of like,
• 1:55
  he, he kind of smile. I don't even have explained it. I was like, oh, no, I bet she listens to the
• 2:00
  podcast all night. And she came back with this bag of ice. And she was like, I followed the curve.
• 2:05
  And I was like, not the time to be recognized. Oh, this is just so like the opposite of
• 2:12
  chic and cute. Did you tell her that you had sauce on it? Of course I did. I'm the biggest
• 2:16
  overseer in the world. I was like, look what it is. Look at it. Anyway, she came back with antiseptic
• 2:20
  cream and all this stuff. And she came back like five minutes later and no joke. I had my hand
• 2:24
  like down on the, like near my bum, trying to put this antiseptic cream on just like,
• 2:30
  looking at her like, I just have no words for the situation. Looking at her like, please, can
• 2:36
  this just stay in this area? I was just like far out. Anyway, her name was fraying. She was the
• 2:41
  biggest dream. She bought me ice and all sorts of things throughout the flight. And I just thought,
• 2:46
  there's no way in New Zealand will be sponsoring us. No one would want to be associated with some
• 2:52
  but give frayer a pain rise. Oh, yeah, fray was an absolute legend.
• 2:55
  Oh, police. There's nothing worse than feeling uncomfortable on a 24 hour flight.
• 2:59
  Like it was on one was on my side and one was on my bum. Can you imagine in those tiny seats?
• 3:04
  Like it was horrible. Have you been to Paris recently? You don't have bedbugs or anything?
• 3:11
  Oh, no. Honestly, I've had bedbugs in a house before and I didn't get bitten. No, as in like,
• 3:18
  I like, I think I'm immune to them. That's why I was immediately like, there's nothing,
• 3:22
  I have no idea what. There's just so weird that something like react that badly. I've never
• 3:27
  heard of any beddie in New Zealand. I've almost been a spider bite at first. Anyway, this is
• 3:33
  disgusting chair and we won't be hunting a visual on any. But if any doctors want to come and
• 3:39
  diagnose, if anyone has any idea of maybe someone else has been in Arotown or Queenstown and had
• 3:46
  some like obscure insects that's just like happens to a bitten you too. I was sort of like,
• 3:56
  awkwardly, do you know what actually before I imagine if you could tell you just imagine if you
• 4:00
  had started COVID 2.0. And you'd flown around the country around the world, sorry, and just
• 4:07
  infected everyone and we were going to lock down yesterday at our co-working space. Someone was
• 4:11
  like, hope the infection gets better as I walked away. And I was like, could you just
• 4:15
  fucking flag that word? Can we just not say infection, please? Please? Oh, oh, guys.
• 4:22
  Anyway, look, I'm on the mend. I did have a minor trip today and yesterday that we're all fine.
• 4:27
  And more important news on my way here this morning, I got into a black cab and the taxi driver was
• 4:33
  like, are you a doctor? And I thought, that's more what I'm going for. Do I say yes here?
• 4:41
  There's always moments people would say that. I'm like, should I just, you know, just have a few
• 4:45
  moments of having an alter ego? Should I just roll? And then I'm like, no, I'm going to get found out
• 4:49
  like in a heartbeat. It's like at a bar when a guy goes, what's your name? And you're like Veronica?
• 4:54
  Senorita. And they're like, what are you doing? And they just make up something and I'm like,
• 4:58
  oh, now I'm so far. Have you ever done that? I can't imagine you being a guy come up to me in Soho.
• 5:03
  Yeah. And me and a friend were outside. And then they were like, you know, when you can just see
• 5:08
  someone, you're like, oh, fucking, they're coming over. Anyway, I remember the story. And he's like,
• 5:13
  it's like, they start chatting. They're really lovely. And then they're like, what do you,
• 5:16
  what do you do? And they're like, let me guess. I was like, okay. And they're like,
• 5:21
  fashion. I don't know. No, no, no. And then I was like, this game's not fun. I was like, I work
• 5:25
  in finance. It comes just like over the game. And then he's like, what about me? I was like, he's
• 5:29
  like, I travel the world. And like, he gave me a few clothes. And I was like a chef. And he was
• 5:33
  like, no. And then he was like, I'm a diplomat or something. I work for, what is that? Like, I work
• 5:41
  for the government. And I was like, oh, amazing. And I was like, yeah, and I go and, and he made it
• 5:45
  sounds like he's like, just joking. I was like, okay. And then he's like, I'm actually a stripper.
• 5:49
  And I travel the world. And I was like, oh, cool. And he's like, just joking. I was like, I was
• 5:53
  like, okay, this is, this is a shit game. I was like, I'm not down for this. And then I was like,
• 5:57
  oh, our mains are here. They worked. Just walked off down the street. I was like, oh my god.
• 6:04
  I was just like, not a way to pick up a girl. Yeah, I was going to say that was definitely his
• 6:07
  flirting chair. Yeah. And I was like, oh, you guys going home? We're like, yeah. Like, why would we
• 6:12
  stay out? Like, this is the caliber of, but oh, wow. We're a new studio. We're a new studio. And
• 6:21
  it's kind of, we're just sort of getting used to it, but just laughed and head-to-head on the wall
• 6:24
  behind us. It's quite cute though. I like it. Yeah, that is nice. It's nice to kind of be home.
• 6:30
  Yeah. Yeah. Anyway, do you think we've probably chatted about our lives? I think we're like,
• 6:35
  let's keep this one tight. We'll be real quick on the spot. So today, there's been some big news.
• 6:43
  Has that? Well, if you're watching us on TikTok, you might not be able to watch us anymore.
• 6:48
  We don't know. No. TikTok. If you're in the US watching us, you might not be able to watch us anymore.
• 6:53
  No. This whole thing we've spoken about before, I don't think this is happening. Is it?
• 6:58
  Yeah. Actually, well, yes, you're right. We have spoken about it in the past and how the US
• 7:05
  is being like, oh, well, they're thirsty. They stopped any government officials using TikTok
• 7:10
  in the US. That's right. Any rums like, oh, gosh, this is going to permeate into all Americans.
• 7:17
  What did I say at the presentation the other day? And you took the piss out. I just said, oh,
• 7:22
  I must say, or you said something like that. I must or something. Yeah. Yeah. Oh my god. It was
• 7:28
  really weird. It was honestly like, she just reverted to being an 80-year-old for like a sentence.
• 7:32
  Yeah. I must say. And so if you locked me in front of like, it's like a hundred people here.
• 7:37
  And I was like, and she's like, sorry, what did you just say? And I was like, I was like, just roll
• 7:41
  with it. So if you just roll with it, you know, I'm sorry. Actually, I'm sorry about that. I was
• 7:45
  many, I apologize. No, no, no, no, no, no, because I shouldn't because that's actually not
• 7:48
  funny, but it's quite, because it throws me in a way. Yeah. Oh, yeah. And also no one laughed
• 7:52
  because they were like, that was me. Yeah, I was like, oh, no, no, no, no, no, no, no, no, no,
• 7:57
  I was like, it's fine. This is how we treat each other. This is like what we do.
• 8:02
  Anyway, just I just thought of that when I said permeate because I'm quite liking that word at
• 8:06
  the moment, if you notice, I've used it a few times anyway. So it is now permeated across all
• 8:13
  Americans. So the House of Representatives, so it's a bit of a weird structure getting a law
• 8:17
  passed in the States. And so the first step is through the House of Representatives, they've
• 8:23
  passed a bill to ban TikTok in the US. So it's passed the first step. And then now the only
• 8:29
  thing stopping it is getting it through the Senate. And then it becomes law that no American
• 8:33
  can use TikTok. So there's about 170 million people in America that use TikTok.
• 8:40
  Like that's it's great. Like this is going to be imagine people that run businesses offer
• 8:44
  influences like, you know, like if we were in the US, we wouldn't be able to use TikTok anymore.
• 8:50
  It's not like when you flew through China and you couldn't use Google. If you said to me that
• 8:55
  that was before it became illegal to use Google, I wouldn't have believed you. So maybe
• 9:00
  this actually will happen. Yeah. So there is ways around it. And the US has said if bite
• 9:06
  dance, which owns TikTok, if they sell TikTok in the US to a US company, then that's how they
• 9:12
  can operate. So they need to offload the US TikTok business and effectively sell it.
• 9:17
  Is that because they think China are serving inappropriate content to Americans that are going
• 9:22
  to sway them to think if blah, blah, blah. But no, it's more that it's a national threat.
• 9:28
  Well, they're saying that all the data that TikTok captures is going back to China and back to
• 9:33
  the Chinese government and they can use that in spying and all of that. Yeah. So, but everyone's
• 9:39
  like, well, this is a bit ironic China because you have banned meter, you've banned Twitter,
• 9:46
  you've banned Google. And then the one thing that the US is banning TikTok and your upper
• 9:51
  arms about it. It's like, come on, like it's a bit of a troix. Yeah. And so, but I think this,
• 9:56
  it's a bit, I mean, the animosity's been going on between China and the US for so long.
• 10:00
  It's the two biggest economies, you know, it's a bit of a big dick energy kind of if you,
• 10:06
  if you, we're going to do this or we're going to do this kind of thing. And so I think the most
• 10:10
  interesting part is that it's not up to, it's not like a democratic decision. It's not amongst the
• 10:15
  people. It's, it's government deciding what isn't, isn't available. Which I think is quite
• 10:21
  fascinating to think that there's only a few people at the very top in particular countries
• 10:26
  around the world who are dictating, it's, they're dictating what we can and can't see or what we
• 10:31
  can and can't consume. It was like, right, free, right of violent. Yeah. No, I get what you mean,
• 10:37
  but I think it's more, from their point of view, they're like, this is a national threat to the US,
• 10:44
  our people using this platform. So therefore, that's how they can kind of get around it or has made
• 10:49
  it through the House of Representatives. But it could be the case that this goes through the Senate
• 10:56
  and becomes a legal for Americans to use TikTok unless they sell it, they sell the US business to
• 11:04
  I don't say words though. Would they? Well, that's kind of you're almost like bowing down to,
• 11:09
  I feel like that's even worse. But it's, everything's got a price. You know, if there's,
• 11:13
  since that announcement, there's been a few high profile people and companies that are like,
• 11:18
  hey, we'll buy it off you. You know, it's like, if you've got a TikTok platform and say, I mean,
• 11:24
  they're saying it's worth $35 to $40 billion. Billion. Billion. Just the US. Just the US. Yeah.
• 11:30
  Holy. But that gets you access to 170 million Americans. But that even in itself freaks me out
• 11:36
  to think who would buy that totally. And so I think it's more like, say it's worth $30 to $40 billion
• 11:42
  and someone offers $50, $80,000. Like at what point do you say, no, do you know what I mean? Like
• 11:49
  everything has a price to a point. So yeah, I don't know. We actually see what happens.
• 11:53
  This is actually fascinating. Yeah. Yeah. So but I think there's been talk about what companies
• 11:58
  could buy it. They're saying that like Google and Meta probably couldn't because they're already
• 12:03
  so big in the social media space and would they be regulation around that because they had to
• 12:08
  trust in it. It would almost just not even pass through to be honest because there's so much
• 12:13
  chat around the way in which social media is influencing young people and mental health and
• 12:19
  to think then that one company has control over everything that's scary. Yeah. I'm also very
• 12:25
  scared that this is going to start a kind of a trade war or like a war between China and America
• 12:33
  on other things. You know, where China's maybe not as dominant or where China's got a stronghold
• 12:39
  over the US. Like they could say China could be like, well, if you're doing that with TikTok,
• 12:44
  you can't produce any semiconductor or computer chips in our country. You know, which is like
• 12:50
  the global hub. So when you say a trade war, you mean the idea of, well, you do this in our
• 12:55
  country. No, you can't. You stop a product. We're going to retaliate. We're going to come back
• 13:02
  and bite you even harder kind of things. So don't they have more important things to worry about?
• 13:08
  You know, like wouldn't you think that? But it's all a competition about who's just making
• 13:13
  us some better. It's power. It definitely is. That's why it's really important when you get politicians
• 13:19
  or prime ministers or presidents in place. You know, some of them have falling out with other
• 13:25
  prime ministers and other presidents and that leads to like in love actually. Yeah, exactly. When
• 13:30
  that guy flipped the security like the repercussions and then for the people and then Hugh Grant gets
• 13:35
  up and does a speech like how romantic imagine a president being like, fuck you to America.
• 13:40
  And because of you, I'd be like, oh, amazing. Sorry, I just want so much of this podcast.
• 13:45
  But like quite romantic. I'd be like, oh, no, no, no, but I still want to get so weird,
• 13:50
  though, is that I think I watch and read books and see other relationships, like that kind of
• 13:54
  romantic gesture. But then if it was to happen to me, I'd be like, he was like, he was like,
• 13:58
  he was like, I'll read everything. 100% I'd be like, oh, possess them. Oh, goodbye. I know. It's
• 14:05
  like some things that such double standards, like I see other people's relationships. And I'm
• 14:09
  like, that's so sweet. Yeah, I know. But you know, if it was to happen to me, I'd be like, like,
• 14:13
  I always wanted someone to write in the sky. I marry me. And now I couldn't think of anything
• 14:20
  worse. I'm like, oh, my goodness. Honestly, yeah, I was like, how romantic you'd just
• 14:24
  like lying on the beach or in the park? You look so cute. You look up and it's like,
• 14:29
  mirroring me. You know, like it's always a bit like, not wrestling properly. And then I was
• 14:34
  like, how amazing. And I was like, I was like, how cheap. You know, if someone else had done
• 14:38
  it, and then your part is like, oh, yeah. Look up. Don't even ring.
• 14:45
  Quite funny. Anyway, yeah. So do we have interesting things to see how this plays out? But
• 14:49
  people are growing pretty concerned with Tesla now as well, because they've got a huge factory in
• 14:54
  China. They make a lot of cars out of China. So they're kind of like, is there going to be some
• 14:59
  kind of, I don't know, you can't make any electric vehicles in our country now, because China has
• 15:04
  got, it's actually a company that's bigger than Tesla now. It's called BYW. Sorry, it's called
• 15:11
  BYD. Well, I was going to say you spoke about this age and there's always been competition between
• 15:15
  Tesla and BYD. And so now China could be like, actually, no, we want our electric vehicle car
• 15:21
  company to win. So it's like an example of if you thought that was going to happen, you could
• 15:29
  divest from Tesla into BYD. If you were like, you know what, I think this is what's going to play
• 15:33
  out. And that's what analysts do all the time is the probability. Okay, they'll look at like
• 15:37
  everything that Chinese officials have said, that US officials have said, they'll look at the
• 15:42
  relationship, you know, they go, I'm just, I'm actually detailed. I'd be like, okay, no, there's no
• 15:45
  chance because Tesla makes this much money for China. You know, they look at everything and go,
• 15:51
  okay, if the problem is like 10%, then maybe we'll just sell a little bit. We won't sell our
• 15:55
  whole steak in Tesla or like, you know, so you do all these probability scenarios. And then,
• 15:59
  but again, you never know what's going to happen. I feel like psychology should be a part of
• 16:03
  investing in terms of your degree and terms of the way it's all human behavior. Yeah, yeah.
• 16:11
  Speaking of human behavior, we've spoken about match group before. So they own Hengen Tinder,
• 16:16
  and it's listed on the NASDAQ, which is a stock exchange in the US.
• 16:21
  And it's just been released. I'm loving this episode. Are you? Yeah. So much good, interesting
• 16:29
  information. Yeah, okay. We're not even like halfway through. Oh my god. I'm loving it. God,
• 16:35
  pressure now to keep it real hard. So it was announced that they have now a second activist
• 16:41
  investor on their, on their share register. So what this means is that a private equity company
• 16:50
  or a hedge fund kind of like a big corporate investor has gone match is doing terribly. I think
• 16:55
  that we can get in there, get a seat on the board or like, you know, change things and make it
• 17:00
  better. And so there's been one that's that's come on. And what you do is you buy a large share
• 17:06
  holding. So you might buy 20% for example of the business. Sorry, you buy 20% of the shares.
• 17:12
  And then you get, you get, say, and what happens because you get your influential. So there's
• 17:18
  been one. Now there's a second one. And this is sometimes a really good indicator. And I say
• 17:25
  sometimes because it means people see potential in the business, but it's just not being
• 17:31
  utilized if that makes sense. So they feel the person that's running it. And everyone's just
• 17:35
  said, you're doing a shit job. Exactly. Yeah. And then they come in and they tell you what to do.
• 17:38
  They might toss you out. They might be like, nah, actually we've got someone else better that we
• 17:42
  know that's turned around a business before. And so it can be quite a bit of animosity.
• 17:47
  Like it happened at Disney when we talked about Disney. And yeah. So yeah. So it's happening at
• 17:52
  match. But one thing that the two activists and besters are agreeing on is that match needs to
• 18:00
  have more AI in its platform. So on Tinder and Hinge. And I was like, how would that work? And
• 18:05
  they're testing it with Tinder actually at the moment is that they've got this AI feature that
• 18:09
  helps pick the best photos from your album to use as your profile. So it almost creates your
• 18:15
  profile by what Yvran looks. Yeah. I know. I'm like, why are you like so much sense? I would want
• 18:21
  that. Yeah. How do I want that? Like the beast out of the beast. And you know, they're like,
• 18:27
  this is your most compatible. And you're like, no, it's not. It's god. It was just use it as a
• 18:32
  pickup line. Be like, oh, so Hinge says we like the most compatible. We should see if Hinge is right.
• 18:37
  To not because you don't even chat to people you match. And then you just don't even talk to them.
• 18:42
  I know. I just like to window shop. I know. You don't anymore. Not anymore. Sorry.
• 18:47
  Flaming lust. I actually have me up there. And I said, do you still have a Hinge account? I was like,
• 18:52
  did he? Out of the blue. I was like, oh, well, I mean, I've got it. But like, I don't know.
• 18:55
  I mean, it's not active. And I was like, oh, did you pause it? Was it still active? No,
• 18:59
  I was on my phone, but I haven't. So you have you had it active? Well, I don't know. I didn't
• 19:04
  deactivate it. Do you know what I reckon? He must someone must have seen you on there. And
• 19:09
  no, no, so I asked. I was like, oh, someone's saying he's like, no, no, he's like, oh, I just like,
• 19:12
  apparently, Sophie's got heaps of photos of you with her. And I'm like, oh, okay, thanks.
• 19:20
  Mine's not even active. But he was like, I think he was trying to like, so do you still have a
• 19:24
  Hinge? Yeah, yeah, yeah, yeah. And I was like, oh, it's not too much to my cute photos have you
• 19:28
  in. Oh, thanks. No, no, that's not a problem to you.
• 19:35
  Like, you do look cute in the toe. It's probably actually bad though, because you don't want to have
• 19:40
  like one really hot friend in all your photos. And then they don't even want to match the
• 19:43
  you. They just do. So sorry. So match grip is potentially so with these
• 19:52
  activist investors on board, plus this new AI stuff, you know, the shoe price has done
• 19:58
  terribly. I would buy it now. I feel like the everything that you've just seen sounds really
• 20:03
  interesting. The idea of integrating AI, because also you could probably see things like say
• 20:07
  someone likes heaps of photos with people with long hair or likes heaps of photos with dogs.
• 20:12
  Then you start serving them up more dog photos and blah, blah, blah. It was start to learn what
• 20:16
  you like. Yeah, which makes so much sense. I'd love to know like the first people that match
• 20:23
  with it with the AI thing, you know, like does it work and like married stories and stuff
• 20:28
  from the AI features, the wedding speeches. Like so we just want to thank AI. AI, you look
• 20:36
  really great tonight. I hate that line. Don't the bridesmaids look great. Oh, it's like fun.
• 20:44
  Honestly, like it's so obvious that you've written that down. And wow, the bride, you're looking
• 20:51
  absolutely stunning tonight. Right, wedding speeches are so funny. I like ripped my sister
• 20:59
  to shreds. It's like a 21st, but she was like, thanks. Well, you told me you didn't want a
• 21:03
  typical bridesmaid speech. It's like, oh, you used to play nipple together. And then we put,
• 21:07
  you know, like she didn't want to know that you're going rogue. I can imagine would have been
• 21:11
  white rogue. I just gave her a lot of backhanded compliments, you know. I was like, can you try to
• 21:17
  take the speech? I'd love to. I'm sure we have it somewhere, but it was like now on a
• 21:22
  picture, I'm like, okay, maybe it was a bit too mean, especially the wedding, but I got lots of
• 21:26
  laughs. Anyway, let's get back to it. Sorry. Sorry. And then lastly, Eddie does. So Eddie does.
• 21:32
  This is a 74-year-old company. This has been around forever. And it has been 30 years
• 21:42
  that had profit after profit after profit. So every year it's had a profit for the last 30 years.
• 21:47
  It's made a profit, sorry. Yeah. And this is the first year it's made a loss. Oh,
• 21:52
  shit. And 30 years. It's three decades. So it's all around the breakup that it had with Kanye West.
• 21:59
  They're still suffering from that. Yeah. So that was October 2022.
• 22:04
  There was like, I just said, I know. And they had $1.3 billion of easy stock and shoes
• 22:10
  to get rid of. That's right. And they were like, do we donate it? Do we burn it? Do we, you know,
• 22:14
  like, what do we do? I know. Yeah. But then you don't want to donate that. The whole point was
• 22:18
  that he was so controversial. So if you're donating it, it's still in circulation. You know,
• 22:23
  it was like this huge controversy. Anyway, in 2021, they had made $2.2 billion of profit,
• 22:30
  then $600 million of profit. And now they've made a loss of negative 14 million. So every year,
• 22:39
  they're getting worse and worse if that makes sense. So people are looking to the CEO being like,
• 22:44
  okay, when is this going to stop? You know, like this business has been super successful.
• 22:48
  It's done so well. It's been had a profit for the last 30 years. And he's like, 2026 will
• 22:55
  be the turnaround. So you've still got a couple more years. But people are trusting him, they can
• 23:00
  share price will just blip, blip, go down, down, down. And then well, people are future looking. So
• 23:05
  a lot of people will be like, okay, cool. Well, in 2026, I'll buy it now to get a head of that.
• 23:09
  But then if that gets pushed out and we get to 2025, he's like, oh, sorry, actually,
• 23:13
  it's going to be 2027 or 2030 or, you know, people tend to be like, oh, mate, you don't actually
• 23:18
  know what you're doing. Or there isn't actually a turnaround. Or this is a big issue. It's not just
• 23:22
  a Kanye West issue. It's a bigger product issue or competition issue. I feel like if this had been
• 23:29
  the only year that they, like, it had been the major impact was the Kanye West thing. I would be
• 23:35
  investing in adios because I'd be like, it's a short term issue. Yeah, yeah, yeah. For 30 years,
• 23:40
  that's a pretty solid track record. But if it's been sort of slowly climbing down, that's not a
• 23:46
  great sign as it. But also maybe Kanye West was having an impact before it really blew up.
• 23:52
  You know, maybe for that a year or two before when he was being really questionable,
• 23:56
  but not fully cancelled, it was still impacting sales. But it also goes to show, you know,
• 24:02
  before this even happened and they earned $2.2 billion a profit, you know, a lot of that was
• 24:08
  attributed to Kanye West. So now he's gone. It's like, what's going to fill that hole? Who are
• 24:14
  you now going to partner with? It's going to be just as good or even better to get that profit
• 24:19
  back to the levels that we saw before. And that's probably what everyone's thinking is like,
• 24:23
  can you do it again? Or is this like a new adidas? Yo, is this like the new level of adidas? So
• 24:30
  I don't know, that CEO has been, he's been a perma for like 10 years before he was CEO at adidas.
• 24:37
  Why did you love a perma? Puma? I don't know how you said it properly, but all of a sudden,
• 24:44
  funny hearing you say Puma. Puma. I don't even know they're around anymore. Neither.
• 24:49
  Who is Puma? I don't even know what the logo looks like. A Jaguar. A Puma. It's a Puma.
• 24:56
  Oh my god.
• 25:00
  Holy. Oh my god. Yeah, anyway. I loved that curve, which, like, yeah, I reckon that was one of
• 25:06
  your best yet. Was it? Yeah. So good. Cool. Thanks, Brian. Also, I was talking a bit coin.
• 25:11
  Oh, did we? Yeah. Is that why I had money in my account? No. Oh, you got paid. Oh, yeah.
• 25:16
  That happens every month on the 15th. I'm glad you know. Well, someone obviously getting paid way
• 25:23
  too much. They don't even realise it. No, definitely. It's absolutely not that. No, it will take a
• 25:28
  few days, but I'm sorry. Coinbase. I have a bond to pick with you, charging 4% to sell Albert coin.
• 25:37
  So we had about 4,000 that we were selling. 4,000 New Zealand dollars of Bitcoin. We have a
• 25:44
  Ethereum as well, but no, it charge us 150 bucks to sell it. I was just like, huge. I was like,
• 25:50
  I'm sorry. You're not a bank. Like, this is what banks used to try to $30 to try to share.
• 25:55
  Like, it's like, I was almost, which is probably what they want, made me not want to sell.
• 26:01
  But they're also kind of shit. If you've lost money on your Bitcoin,
• 26:04
  then you have to pay $150 or like a giant percentage to sell. And it's a good thing to remember
• 26:09
  that fees are actually important because if you've made full percent on your Bitcoin,
• 26:13
  you basically need nothing. And then you had to sell it and pay full percent. You've made nothing.
• 26:16
  Yeah. So it's just something to be aware of. And with that key takeaway, go check fees of your
• 26:22
  investments. Also, we're not telling you to sell your Bitcoin. No, just to clarify. I need an
• 26:27
  emergency fund. That's what we're selling. Okay, bye. Okay, bye. Thank you so much for listening
• 26:32
  to the Curve Weekly. Make sure you hit the subscribe button to stay up to date with all the
• 26:36
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• 26:41
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• 26:47
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• 26:51
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• 26:56
  See you next Tuesday. Well, see you next Tuesday. I mean Monday.