Latest / Best of Business / Gareth Morgan: former economist and investment manager responds to investment scam deepfake

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Gareth Morgan: former economist and investment manager responds to investment scam deepfake · Best of Business

• 0:09
  Speaker 1: You're listening to a podcast from News Talks'd be follow
• 0:12
  Speaker 1: this and our wide range of podcasts now on iHeartRadio.
• 0:16
  Speaker 2: AI deep fakes apparently getting so real that they're even
• 0:20
  Speaker 2: starting to trick the people they're supposed to be imitating.
• 0:22
  Speaker 2: Gareth Morgan is the latest target of one of these scams.
• 0:25
  Speaker 2: In this video, he's asking Keywis to invest in a
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  Speaker 2: dodgy US investment scheme. Banks are in the business of
• 0:31
  Speaker 2: growing your wealth. They're in the business of growing their own.
• 0:34
  Speaker 2: Stop playing their game.
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  Speaker 3: I've teamed up with a US investment group to focus
• 0:38
  Speaker 3: on roal opportunities on the US market.
• 0:40
  Speaker 2: Gareth is with us. Now, Hey, Gareth, Hey, the hell
• 0:43
  Speaker 2: are you? It's pretty good. It's pretty good.
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  Speaker 3: Ah, it's awesome. Like I'm in the video, it's just unbelievable.
• 0:49
  Speaker 3: I just I've watched it two or three times now
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  Speaker 3: and I can't believe me.
• 0:55
  Speaker 2: You can't believe is there No, I haven't watched it.
• 0:58
  Speaker 2: Is there no giveaway, Like, there's no kind of like
• 1:00
  Speaker 2: ulipping or anything like that.
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  Speaker 3: It's just legitimacy. The only giveaway is the backdrop is
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  Speaker 3: I don't recognize the house behind behind me. But everything
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  Speaker 3: else like the you know obviously, the face, the lip movement,
• 1:14
  Speaker 3: the voice obviously. I mean I can't tell.
• 1:17
  Speaker 2: Yeah, interesting you have you run it past Joe or
• 1:19
  Speaker 2: any of the kids.
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  Speaker 3: I haven't actually asked Jane what she thinks of it,
• 1:24
  Speaker 3: but yeah, that's a good.
• 1:25
  Speaker 2: Idea, unfailingly blunt, and she'll tell you what she really thinks.
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  Speaker 3: Oh yeah, no, I know. It's be embarrassing because it
• 1:33
  Speaker 3: was one of it.
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  Speaker 2: Was it your daughter who spotted it first?
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  Speaker 3: Yeah, one of the daughters that really rang up five
• 1:38
  Speaker 3: of them. I know she texted me for hey, Dad,
• 1:40
  Speaker 3: have you seen this? But what she saw was the
• 1:42
  Speaker 3: written words. She didn't see the video that came later,
• 1:46
  Speaker 3: So she just saw the Facebook post and it was
• 1:48
  Speaker 3: an ad actually, and it's come out of the UK
• 1:53
  Speaker 3: when you trace it back. But you know, I've been
• 1:56
  Speaker 3: to Facebook a few times and asked them to take
• 1:58
  Speaker 3: it down. Blah blah. But of course you don't get
• 2:01
  Speaker 3: a human being. You just get a dialogue box to
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  Speaker 3: fill out and off it goes. You don't even get
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  Speaker 3: an acknowledgment that you've sent it, so you're completely powerless.
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  Speaker 3: You can't do anything.
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  Speaker 2: It just goes into this giant hole where every complaint
• 2:15
  Speaker 2: into Facebook goes and they never do anything about it.
• 2:19
  Speaker 3: No. Well, I mean they're more powerful in countries, so
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  Speaker 3: an individual's not going to be able to stop anything.
• 2:23
  Speaker 3: Hen how do we.
• 2:25
  Speaker 2: Get around the scareth If we've got deep fake videos
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  Speaker 2: that are even convincing the people that they are of,
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  Speaker 2: how do the rest of us know that we can't
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  Speaker 2: trust it?
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  Speaker 3: Well, you know, I would have thought by now that
• 2:38
  Speaker 3: with these sort of social media Twitter and Facebook, and
• 2:42
  Speaker 3: the people would realize that, you know, there's so much
• 2:47
  Speaker 3: false stuff on them that they're not worth bothering with.
• 2:51
  Speaker 3: And you know, that's what we normally do, don't we
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  Speaker 3: self censor? They say, well, that's just crap, so we
• 2:56
  Speaker 3: go somewhere else. But I think that, on the other hand,
• 2:59
  Speaker 3: the draw card of having all your friends there and
• 3:01
  Speaker 3: being able to chat back and forth so powerful that
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  Speaker 3: people just turn a blind eye to. So it's not
• 3:07
  Speaker 3: self censor, you know. I think that's that's the issue.
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  Speaker 3: I mean, it reminds me actually the early days of
• 3:14
  Speaker 3: trade Me, when we did trade me way back then
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  Speaker 3: and people started complaining, Hey, this guy's taking my money
• 3:21
  Speaker 3: and you know the goods are fake and all arrest
• 3:23
  Speaker 3: of it and how trade Me got round it in
• 3:25
  Speaker 3: the end was having that star system, you know, where
• 3:28
  Speaker 3: you rank each other, the buyers and sellers, and that's
• 3:31
  Speaker 3: that is self regulating. But Facebook doesn't have that, you see,
• 3:36
  Speaker 3: it has nothing like that, so it just lets it work.
• 3:39
  Speaker 3: And you know, if you read that book by that
• 3:41
  Speaker 3: New Zealand lady who was when William's that's an awesome
• 3:45
  Speaker 3: book by the way. I mean, she really gave you
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  Speaker 3: a window into the culture of the highest echelons, which
• 3:51
  Speaker 3: is they don't care because we're you know, we're so powerful,
• 3:54
  Speaker 3: no one can stop us sort of thing. So it's
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  Speaker 3: pretty scary. But boy, I'm impressed by the power of AI.
• 4:00
  Speaker 1: Isn't it.
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  Speaker 2: B Yeah, Gareth, thank you very much. You look after
• 4:03
  Speaker 2: yourself and thanks for the reading recommendation. It's Gareth Morgan,
• 4:06
  Speaker 2: investment manager, former economists and obviously darded the Trade Me founded.
• 4:10
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