Latest / What the Flux / Foxtel battling Nine for NRL takeover | Anthropic's $1.3 trillion IPO ambition | WiseTech cuts staff... then blocks them

Transcript

Foxtel battling Nine for NRL takeover | Anthropic's $1.3 trillion IPO ambition | WiseTech cuts staff... then blocks them · What the Flux

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  Speaker 1: Here is what the flax.
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  Speaker 2: I'm Brett and I'm justin and it's Wednesday, the third
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  Speaker 2: of Jude.
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  Speaker 1: Does it wait? Que the kitching sound? Because millions of
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  Speaker 1: Australians are about to get a pay rise. Australia's minimum
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  Speaker 1: wage you just got boosted by nearly six percent to
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  Speaker 1: twenty six dollars forty four an hour, and the minimum
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  Speaker 1: award rate is going up by four point seven five percent.
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  Speaker 1: Each is a big win for about two and a
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  Speaker 1: half million Australian employee.
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  Speaker 2: Wow Ee Flex Sam. Do you find this? Sometimes you
• 0:28
  Speaker 2: give yourself a little treat and buy something just to
• 0:30
  Speaker 2: make yourself feel good when the cost of living is up. Well,
• 0:33
  Speaker 2: it's called treatonomics, and it's the growing trend of spending
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  Speaker 2: on small, mood boosting purchases during tough economic times. We
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  Speaker 2: break it down in the Flux app, why you do
• 0:41
  Speaker 2: it and how to curb that treatonomics may shut it.
• 0:43
  Speaker 2: Download the app and check it out.
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  Speaker 1: Three huge stories today Josey Boy, let's do it for
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  Speaker 1: our first. Foxtel is making a four billion dollar power
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  Speaker 1: play to kick nine off the NRL broadcast rights, and
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  Speaker 1: it's shopping for a free to air mate to make
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  Speaker 1: it all happen.
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  Speaker 2: Move over origin rivals. The new rivalry is Foxtel Verse
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  Speaker 2: nine and we want doseboit.
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  Speaker 1: Let's start with some context. The NRL's last broadcast deal
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  Speaker 1: was about two billion bucks for five years, or around
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  Speaker 1: four hundred mil per season.
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  Speaker 2: And maybe that deal has been a tag team effort
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  Speaker 2: between nine and Foxtel.
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  Speaker 1: But with that deal ending at the end of twenty
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  Speaker 1: twenty seven, the race to secure the next broadcast rights
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  Speaker 1: is really heating up.
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  Speaker 2: Yeah, and with live sports TV ratings booming, the value
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  Speaker 2: of the next deal is expected to double now.
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  Speaker 1: Nine made the first move, after quietly pitching to the
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  Speaker 1: NRL to grab all of the NRL right, which would.
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  Speaker 2: Send Foxtel to the SimBin for the first time in
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  Speaker 2: nearly thirty years.
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  Speaker 1: You see Nine and its streaming sidekick stand Sport want
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  Speaker 1: the whole thing to themselves.
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  Speaker 2: Yeah at Foxel, they've hit that fast. Yep.
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  Speaker 1: Foxtel, under its new cashtop owners DEZWN, have also pitched
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  Speaker 1: its own all rights bid, so it does. Wait what
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  Speaker 1: started as contract negotiations is quickly turning into an all
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  Speaker 1: out bidding brawl. Yeah.
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  Speaker 2: The problem for Foxtel, though, under Australian anti siphoning laws,
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  Speaker 2: it can't own the rights alone.
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  Speaker 1: So Foxtel has been coosing up to Channel seven and
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  Speaker 1: Channel ten hoping they can join them for the winning bid.
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  Speaker 2: So what is the key learning here?
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  Speaker 1: There are some sports that you can lock behind a paywall,
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  Speaker 1: and then there are some sports Australia has decided that
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  Speaker 1: belongs to everyone.
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  Speaker 2: Anti siphoning laws prevent major sporting events from being exclusively
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  Speaker 2: available on PATV or streaming platforms.
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  Speaker 1: So where the idea is pretty simple? If millions of
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  Speaker 1: Australians care about a game, they shouldn't have to pay
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  Speaker 1: to watch it.
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  Speaker 2: So what's on the anti siphoning list?
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  Speaker 1: Well, NRL Finals, you've got the AFL Finals, the Olympics,
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  Speaker 1: Australian Open, the FEFA World Cup.
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  Speaker 2: But they man there is a loophole for companies like Foxdale.
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  Speaker 2: They can buy all the rights and then sub license
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  Speaker 2: some of the games to free to air networks.
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  Speaker 1: Foxdale did exactly this with Formula one.
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  Speaker 2: Yeah, it bought the whole calendar for sixty million dollars
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  Speaker 2: per year, then deal with Network ten to show the
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  Speaker 2: Australian Grand Prix specifically.
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  Speaker 1: And that is why Foxdale spent last week calling seven
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  Speaker 1: and ten because without one of them, their NRL bid
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  Speaker 1: literally cannot move forward.
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  Speaker 2: And clearly it ain't going back to its former friend
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  Speaker 2: turned rival nine.
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  Speaker 1: And it's a rare case where a law designed to
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  Speaker 1: protect consumers ends up handing free toow are networks unexpected advantages.
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  Speaker 2: So right now, nine looks like it's got a clear
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  Speaker 2: run to the try line unless Foxdale can pull off
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  Speaker 2: a miracle play.
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  Speaker 1: For our second story, Anthropic has confidentially filed for an
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  Speaker 1: IPO at a nine hundred and sixty five billion dollar valuation.
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  Speaker 2: E chatchapt is so twenty twenty five, they'll show me
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  Speaker 2: more so.
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  Speaker 1: Anthropic is the AI lab behind Claude, the chatbot, giving
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  Speaker 1: Chetchiopute a serious run for its pennies. Yep.
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  Speaker 2: It was found in twenty twenty one a group of
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  Speaker 2: researchers who walked out of Open AI and essentially built
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  Speaker 2: a rival using a similar playboll in Jozboit. Twenty twenty
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  Speaker 2: six has been very good for Claude's product and it's
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  Speaker 2: growing user basin. So far this year, Anthropics launch claud
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  Speaker 2: cowork or Code, clud Design and much.
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  Speaker 1: More, and Claude's monthly website visits jumped eleven times in
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  Speaker 1: twenty twenty five, a low.
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  Speaker 2: And they man the valuation they're walking in with nine
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  Speaker 2: hundred and sixty five billion US dollars or roughly one
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  Speaker 2: point three trillion Australian dollars.
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  Speaker 1: And that is bigger than open ai, which sits at
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  Speaker 1: eight hundred and fifty two billion US dollars after its
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  Speaker 1: own rays in March this year.
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  Speaker 2: Its revenue's gone from nine billion US dollars of an
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  Speaker 2: annual run rate at the end of twenty twenty five
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  Speaker 2: to forty seven billion US still a run rate today,
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  Speaker 2: in just six months.
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  Speaker 1: And now some of the biggest AI bets are all
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  Speaker 1: lining up to hit the public markets around the same time.
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  Speaker 2: But be man whoever gets there first gets to set
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  Speaker 2: the narrative.
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  Speaker 1: Which is exactly why Anthropic jumped ahead of open ai
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  Speaker 1: to file for its IPO first.
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  Speaker 2: So what is the key learning here?
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  Speaker 1: The first company in a new industry gets to write
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  Speaker 1: the rule book that every competitor gets graded against.
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  Speaker 2: Man first mover advantage is the idea that the company
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  Speaker 2: that arrives first gets to define what success looks like.
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  Speaker 2: There are valuation benchmarks, there's the growth benchmarks, the all
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  Speaker 2: important story or narrative, and the yardstick everybody else gets
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  Speaker 2: measured against.
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  Speaker 1: That is very powerful because Anthropic gets to stand on
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  Speaker 1: the stage first and tell investors, here is how fast
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  Speaker 1: AI companies grow and succeed and be man.
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  Speaker 2: By the time open A files for its IPO, every
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  Speaker 2: investor will already have an Anthropic number in their head.
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  Speaker 1: So when humble old open AI comes to the market,
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  Speaker 1: all of its numbers will be read in comparison to Anthropics.
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  Speaker 2: So anthropics IPO goes well, open AI won't be the
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  Speaker 2: AI IPO, It'll be the other AI IPO.
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  Speaker 1: For our third and final story, wise Tech hold the world.
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  Speaker 1: It was replacing around two thousand employees with AI, but
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  Speaker 1: then it prevented some of its former employees from working
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  Speaker 1: for rivals.
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  Speaker 2: I can do you a job better than you, but
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  Speaker 2: apparently you're still too dangerous to work for a competitor.
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  Speaker 2: Tell me what's going on here?
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  Speaker 1: So wy Tec is the asx's the logistics software giant
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  Speaker 1: best known for its cargo Wise platform, which is used
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  Speaker 1: by for age companies around the world. Founded in nineteen
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  Speaker 1: ninety four and after making over forty acquisitions, it's now
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  Speaker 1: worth around thirteen billion dollars.
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  Speaker 2: Earlier this year, wise Tec announced it's cutting around two
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  Speaker 2: thousand jobs.
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  Speaker 1: Nearly a third of its global workforce, which is one
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  Speaker 1: of Australia's biggest AI related job hats ever, and.
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  Speaker 2: A CEO even bragg that its AI agents can do
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  Speaker 2: a job of an engineer in fifteen minutes and quoted
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  Speaker 2: it never goes to sleep, never complains, and never asks
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  Speaker 2: for a pay rise.
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  Speaker 1: Which may be good news if you're a shareholder, but
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  Speaker 1: slightly less exciting if you're a wise Tech employee.
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  Speaker 2: Yeah. Now, y Sex cut almost two hundred local jobs
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  Speaker 2: and handed these people a list of companies that they
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  Speaker 2: can't go work for next and it all comes down
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  Speaker 2: to a noncompete clause in their contracts, which the union
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  Speaker 2: asked to be removed.
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  Speaker 1: So what's the key learning here?
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  Speaker 2: Noncompete clauses are the legal protections that businesses use to
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  Speaker 2: stop employees from working for a competitor directly after leaving
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  Speaker 2: the company. These clauses are often in place to stop
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  Speaker 2: your best people from leaving and taking all the stuff
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  Speaker 2: they've learnt about your product with them, but being in practice,
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  Speaker 2: they're pretty controversial. If the work has been let go
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  Speaker 2: because it makes it harder for them to find new work.
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  Speaker 1: The irony is that y Stec's biggest competitor right now
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  Speaker 1: isn't even in their industry.
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  Speaker 2: No, it's AI that could substitute its products.
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  Speaker 1: That's why y tex shares have dropped more than forty
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  Speaker 1: five percent this year, because investors fear that its software
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  Speaker 1: could become redundant one day.
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  Speaker 2: So now y Sex firing a hebrastar, replacing them with
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  Speaker 2: AI and stopping them from helping the old competition to
• 6:39
  Speaker 2: catch up. Blucks am. In tough economic times, have you
• 6:42
  Speaker 2: been treating yourself to a little act treat here? A
• 6:44
  Speaker 2: little description over here. Well, it's called trade genomics, and
• 6:47
  Speaker 2: those little treats can add up. In the Blocks app,
• 6:49
  Speaker 2: we break down what treat gnomics is and how to
• 6:51
  Speaker 2: stop it from derailing your budget.
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  Speaker 1: Thanks for listening, and we'll see you on Friday,