Latest / The Curve / 2025’s Best News Yet for Women.

Transcript

2025’s Best News Yet for Women. · The Curve

0:00
Welcome to the Curve Weekly. This is our podcast. We're every week we're reading the finance
0:04
news so that you don't have to. I'm Vic Harris, a finance professional who's made a career
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out of making people money. And I'm Sophie Hallwright, I'm an ex-TV radio producer, and I was just
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really sick and tired of not understanding anything about investing. In this week's episode,
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there's an acquisition that everybody is talking about. Warner Brothers is officially in a bidding
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war. Grab the popcorn, let's see how this plays out. We have got the inside skirt wall.
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There is an ice cream company that is just on public. Do we think it's going to be successful?
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I'm sure. And over in the US, they've reversed a ban on selling AI chip into China. So we've
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got the latest update there for you. One big tech company is a major beneficiary. And finally,
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we have maybe the best news that's come out this entire year for women globally. It's something
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that's happening in India and we cannot wait to talk about this. So stick around to the end for that.
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But before we dive in, we've left the beast chat to the last curve weekly of 2025.
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We're starting with eggs and sleep. It's riveting.
1:10
Like the last curve weekly of the year, can you believe it? I know. I think it's the
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second or third year of curve weeklies. It's been? Yeah, I think it's the third year.
1:23
You know, we started in 2023. Do you remember how much bullying was involved in me being like,
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let's do a second podcast? Yes. In fact, there's no way. I can't wait to be
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you know what we'll have full Christmas swing. There'll be some massive news.
1:36
You're right. That'll come out next week. Darling in life from Christmas day.
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Just jokes, not the last one. I've just been having some egg knock. I don't know what egg
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knock is, but it sounds very fresh. It's having more wine. So. Look, we need to decode the news.
1:49
Yeah, I can't wait to be in full Christmas mode. You know, like a hideous,
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Christmas sweater, probably some kind of bizarre red cocktail that I try to make.
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Like put it down. Yeah. Yeah. In the middle of the country, in my cute little families cottage
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with the candles lit trying to make gingerbread men, like I just can't wait to be Cameron Diaz
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in the holiday. I'll be in the mulberry sounds. Oh, having a barbecue. Total opposite.
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Probably drinking drinking tequila, my bikini, and the sun.
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Very different businesses. I must say, I think that's one of my favorite things about the UK
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is Christmas. Like December here is magic. Yeah. Maybe next year. Maybe you're finally over here next
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year. Maybe you do a Christmas. Yeah. You know, you host come over for UK Christmas.
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I was talking to my dad the other day and he, unfortunately, one of his friends passed away.
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And he had this moment. He was like, you know what, Vic, here we are saving away
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for our retirement. He's like, we're now retired. We should be spending, spending that money.
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You know, like you could in more, but like, you know, you never know when your life's going to end.
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So he's like, I'm serious to a friend's trip ski trip to Vancouver. I've seen
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used to a car trip in September. I've said, so I'm like, yeah, maybe I'll just
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well, he's in this moment. Good idea. And Christmas in the UK. Yes. Yes. He's a rich man.
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He probably would love that. He just hates the weather. Oh, really? I still call him and he's like,
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I'm throwing weather over there. You're like, Dad, you've better chat. I need such a
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British thing to talk about the weather though. Weather and tubes. I also think sleep. I'm so
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exhausted with how boring my sleep chat is. Yeah. Yeah. Like I'm just constantly talking about it,
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asking about it, checking with other people's sleep. It's ridiculous.
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I was thinking to a friend about sleep and I was kind of same. I'm like, if I have less than
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eight hours, I'm like, oh, today's going to be a battle and going to need three coffee. You know,
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no, but then I think it's such a mindset as well. Do you know what I mean? Like I'm not saying
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all the time, but if I didn't know I had less than eight hours and I thought I had eight hours,
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I could probably just keep going about my day and have a really great day. And I think it is.
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I've got a friend saying from Switzerland, one of our good friends is staying in London. She's
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we're sharing a bed. And I thought this is so cute. And something we haven't done in ages is
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like a girl's sleep over. You know, like having a friend in your bed. Like pillow fights,
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isn't she? Yeah. Like it's just so cute. But I will say last night when we were going to bed,
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I was having like the pillow fort down the middle and I had to have a serious mounted magnesium.
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And I was like air plugs in and mouth gun in like the most unsexy sleeping you've ever heard of.
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But I was thinking this is going to be one of those moments we both wake up in the morning
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and we're like, how is that? Yeah. And have this horrible night sleep and then have to talk about it
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for five hours. Surprisingly. Got through it. Okay. Not that anyone needs to know that. But
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right. So we have. Sorry. I know. Here I am complaining about how it should fall in a sleep.
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Right now I'm asleep. And then I actually bring a story up. Let's talk about what's going on in
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the news. There's so many interesting stories. Your stomach. No, no. I will have plumbing.
4:56
No, that was the plumbing. No, I've all heard that. There's a weird kind of liquid dripping
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round the back. That's her stomach. No, I will just have it known that I boiled an egg this morning
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and ate it before this podcast record. So I just don't know what you used to do.
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What? No, I didn't. Yeah, my boy. What do you mean? Yeah, I'm a dear. I was like, you're
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so I already eaten two. Yeah. Oh, I'm so sorry. But you know what? Why don't you say something?
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I was like, oh, it's my second egg. I've gone out of the room. You were down the hallway.
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Yeah. I didn't think, wow, this has been boiled very well. Yeah. Because the
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swanning's one that you know when it just you haven't done it enough and then all of the egg
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like shell starts pulling off the outside of the white and then you're just left with like
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half of the egg. The trick is to not use fridge eggs. I didn't. They come from the cover because
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like you told me that. Yeah, it's not over time for me. Do you just boil it to smother
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eggs? I do do like a team and go shower, get ready. Yeah, yeah. I sort of try and do like no
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border on the pot. I'm like, oh, it's done now. Okay. Like when it's bursting out the sides,
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it's done. But when it's safe boiling, it's the point where there's no nutritional value here.
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Probably. Right, enough terrible chat from us. Wow, we're scraping the barrel for it's final
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months. Yeah. Next year, we will come back refreshed. Yeah. We'll have good chat. We'll have
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a few laws. You know, it will not be this boring. We promise. But what's not boring?
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Big deal to end the year. Yes. This is everywhere. We recorded a podcast last week and I was like,
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oh, Netflix is thinking you're buying Warner Brothers. You know, Murphy's Law.
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Soon as we stopped recording, there was a big announcement that Netflix had made a full blind
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bid for Warner Brothers. It's a little update, but I thought it would be really good to kind of,
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because it's been all through the news the past week. And now we've got another player. Paramount
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has come in with a hostile bid, which I'll explain in a second. But yeah, it's all go.
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Quite exciting. Yeah. Warner Brothers has really got its suitors. It's almost like, you know,
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it's the star of the show. It's being fought over. Yeah. Stop it. Stop it. Stop it.
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Oh, you want me? Oh, you want me to? Oh, who's going to be off it? Oh, you just want my arms
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and my legs. Oh, you want my whole body? That's such a good way to think about it. But anyone that
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doesn't know what that joke means. Basically, the idea is and what we were speaking about last
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week is that some of these companies are probably interested in some aspects of Warner Brothers,
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but not necessarily the whole thing. So the whole arms and legs are like, yeah, maybe it's HBO,
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we want, maybe you know, all the little umbrella brands, they're trying to kind of pluck
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bits out of it. Yes. Yeah. And it kind of grows actually. It's a bit like they're dismantling
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the whole thing, aren't they? Well, also, it must be quite just, just concerning for
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people that work there, right? If you're in the cable TV division, you're like, well, no one's
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going to really. Is anyone in the cable TV division? Well, like, nobody's going to want us. Yeah.
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I mean, I think you'd be used to that if you're in the cable TV division. If you were in the,
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yeah, the HBO and you're merging with Netflix, like, do they really need to
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head of content? So they really need to, do you know, like there's also all these people's jobs
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are kind of at risk. Well, they're a bit on the line. Yeah. And this is the whole thing with
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getting this deal across the line is firstly, there is price. So Netflix has offered shareholders
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a combination of cash and equity. So that means that like, look, we'll pay you some cash and you'll
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get shares in Netflix. And that combination ends up being about 27, 27 dollars a share for one
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of our brothers. So if you were a shareholder and you had one share and one of our brothers,
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you'd get $27 for your share. Then Paramount has come out over the top and given $30 a share.
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But there's is, and they're saying, you know, that we're going to buy the whole thing, whereas
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Netflix has kind of been like, we want a few things, but, you know, we'll give you some cash
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and some equity. Bruce Paramount has come out and said, we'll give you 30. And this is with the
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Hostile. This is when I talk about a Hostile takeover is that the Warner Brothers management
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and the board and executives have all effectively agreed to the Netflix deal. And they've gone,
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yep, look, shareholders. We think this is really, really great. You should agree to this 27,
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that's 27.75 per share. You should agree to this. It's going to be really good deal Netflix.
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You're going to get some cash in your wallet, but you're also going to get equity in Netflix shares.
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It's going to be a bigger and better media company. Their argument is it's going to create more and
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more jobs because it's going to be bigger and better and be growing. Paramount has launched a Hostile
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takeover, which means a Hostile just means you don't get the support from the board and the
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management and the executives. So they've gone, if you want a Brothers, we have been speaking to you
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long before Netflix was involved. Have they? Yeah. And you have not engaged with us.
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You've wanted, now you've gone out publicly with Netflix. Honestly, like Dana, this is so juicy.
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And so Paramount's gone, well, if you, we're going to go straight to the shareholders,
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we're not going to go through you because at the end of the day, the shareholders own the company.
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And we're going to offer them more. So if I'm sitting there as a shareholder, I'm looking at it going,
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I can get $30 or I can get 27. Obviously, I'm going over 30. Obviously, I'm going over 30.
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But then, so there's like, there's the price element and the attractiveness to shareholders. But the
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second one is what's going to get across the line from a competition standpoint. And that's when
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you have to get like governments on side. And so now everyone's like, okay, well, what is Trump
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going to support? Is he going to support a Paramount deal or is he going to support a Netflix deal?
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Why is that? Why is that government level? Because you're now going to be creating a massive media
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conglomerate. And so they're looking at it from a competition lens for customers. You know,
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what deal is going to be the best outcome in terms of competition so that customers aren't
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worse off? Surely it would be the Netflix deal then if it's being pulled apart, right? Because the
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idea of Paramount is taking the entirety of Warner Brothers. Well, this is this is it's merging all
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of it together. Whereas the other offers kind of like dismantling bits of it, right? Yes. And then
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there's kind of like another argument going on around jobs because Trump is all around is all about
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what's going to create more jobs for Americans. And Paramount is like, our deal is going to save
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jobs because nobody's going to let go of buying the whole business. Netflix is like, yes, we're
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carving off certain parts, but we're going to be bigger and better and be growing much faster
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than what Paramount could offer Warner Brothers. So in the long run, we're going to be offering
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more jobs. So there's this, oh, everyone's trying to get their like little bits on it. What do you
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think? What is your like overarching thoughts on this? Because I've got to be honest, if I think of
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the Paramount offer, it sounds like a better offer initially. What do I think is going to be able
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to create greater long term value? I'm definitely would be backing Netflix. Also, nobody ever comes out
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with their best offer first. I was about to say surely Netflix is going to show to all other
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Paramounts. Yeah. I mean Netflix is a much more financially healthy business. Paramounts got a lot
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of backing from like private equity. It's actually got some like Middle East and Saudi money, which
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people are not that comfortable with. So that's a whole other thing is that, you know, you've got
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foreign ownership of these assets. And I feel like Trump won't like that. He wouldn't like
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a majority shareholder is not being from America, surely. And Netflix, you would think would be
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quite centralised in the States. What I think Netflix will come out with a trial for.
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Totally. If they could match, you'll be 30. I mean, there's a chance for shareholders to go
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with that. But what I hate about this is that Trump is again the puppeteer of like, who am I going
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to say used to and why? And he's actually got quite a few personal connections with Paramounts.
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And because Larry Ellison's son runs Larry Ellison. Larry Ellison is the founder of Oracle,
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which is one of the biggest tech companies, but seeking richest man in the world. Okay.
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And his son runs Paramount and they're all in bed with Trump and so they could be, I don't know,
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something there. But this is not going to be over for at least a couple more months.
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Yeah, I think it's so interesting that Trump's more aligned with kind of the underdog, to be honest.
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You know, because Paramount in terms of buying the entire thing, it's way less competitive in terms
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of the idea of merging one big ginormous media company like that's not great.
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Because with Netflix, you've got the number one streaming platform going with the number three.
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So that's, or that's quite a big issue from a competition standpoint. So that's like, it's just so
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funny Paramounts being like, well, if this goes to do a head for Netflix, it's going to mean this.
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And then Netflix coming out being like, well, if Paramount does, you know, it's like so
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tight for tat, it's quite funny to watch all these billion, billion dollar companies in their
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their management teams kind of going at it, being like, why you should pick us?
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I mean, I'd be quite stoked if you want to brothers right now.
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I know, amazing PR, they're going to get a really good deal regardless of what happens.
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I mean, as soon as people are fighting for you, you can come out so much more.
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You have more power. I've used like overarching view as Paramount is more like focused on
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their deal will be better for jobs, for Hollywood, you know, it's going to be stability, status quo,
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but just bigger and better. Netflix and probably way less anti-competitive because there's this
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crossover. Netflix is saying that a deal would be better for customers, much more better value,
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better growth opportunities, and they're saying that because Paramount and Warner Brothers are such,
14:39
I guess, kind of old world media companies, eventually there will actually be more job losses
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down the track because the businesses are quite similar. So it's going to be interesting to see
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what plays out, but I think there's a few more probably up offers that are still to come.
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And I just love a third player to come in. Yeah, I love how I just love watching for the sides.
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Let's just get met her in there or something, you know, just a real less win.
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Yeah, be quite funny. Yeah, I kind of hope that happens too. I hope this just comes out.
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We're going to be putting Netflix in our Tesla's.
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Would be quite funny. I think that's why I love about the Curve Weekly podcast is how it almost
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turns the economy into the real housewives of the economy, you know, like looking at it in this
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way and talking about it makes so much sense to me. I find it so interesting. If I was having to get
15:31
notifications every five seconds on my phone from Wall Street Journal or whatever, I would not
15:35
know how to decipher this because there's so much information coming out, but I love it and I would
15:39
like say really close to the story just because it's fun to follow. But I think it just shows how
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much the media landscape is changing, right? Like even YouTube, I reckon Google,
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imagine if Google came out to buy this, like YouTube is going from strength to strength to
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strength, you know, like they could be the next media empire. You never know. I don't know. It's
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just like there's so much change going on. It's quite, quite cool to see. You're right. And
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that's YouTube became kind of it's already the biggest streaming platform.
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Easy. But in terms of share prices, the thing with, I guess, takeovers is
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like the Netflix share prices fallen because people are about like, oh gosh, will this go
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ahead? Is this actually good for Netflix? I would have bought more. Well, if the deal doesn't go
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through, you're essentially just buying Netflix's is so you should be buying. Do you know what I mean?
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You should have been buying that before. But I don't know, buying things on deals. I think once a
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deal has gone through, there's also a period of digestion where a lot of share prices and we've
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seen it with zero actually at the moment, they made a huge acquisition and share prices done
16:43
pretty terribly this year. But it's because there's like this digestion period of like, okay,
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there's going to, you know, there is going to maybe again, we have to be job losses,
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they're going to be redundant to see payouts, there's going to be like, all this kind of stuff,
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you just have to get through this messy middle with a large transaction. And there will be that
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for Netflix. There will probably be a few quarters where they have a cost blowout because they have
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to change certain things. But in the long run, it'll be better for the business if that makes
17:09
sense because you'll be bigger and stronger and more competitive. Do I think though, if you believe
17:13
in Netflix now, I love Netflix as a stock. I think that it's done so well. And if the share prices
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down and we often say don't buy when you're getting phoma, which is when the share prices really
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high. So if the share prices lower right now, if the takeover happens, you know you're going to be
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bought out for more than what the share prices right now because the whole point is they need to offer
17:36
something that's appealing to shareholders that currently own that stock. So if you buy it low
17:41
and adverted commas for 25 a share or whatever, and then this deal comes through at 30, that's one of
17:47
brothers works. Yeah, you want to buy, you want to own stocks where they have been taken over
17:56
because it happened so quickly, like as soon as it's announced. What's happened to his
18:00
Warner Brothers gone. Yeah, okay. Sorry. Yeah, you want to be the target. And this is this is why
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when companies share prices don't perform well and I'm like, all the sharks are circling,
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it's on its knees, you know, like if they're actually good businesses, then there is the
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opportunity where someone might come along and take it over and then get the share prices
18:22
fantastically well, but it's not the best investing strategy to like buy all these terribly
18:28
performing stocks and the hope that they get taken over. Yeah, but Netflix is in this example.
18:35
I think Netflix is an amazing investment. Yeah. So if there's a chance to be buying that slightly
18:39
cheaper, I feel like that's a buying opportunity from my perspective anyway. Yeah. What else
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is happening in the news? Oh news news news. Damn it, I was going to bring in ice creams and I forgot.
18:49
Oh yeah. Need a props budget, I think. We have a props budget. Okay, perfect. Yeah, you could
18:54
totally avoid an ice cream. Oh my god. Would we have eaten it at 8 in the morning? Probably not.
18:59
We're going to bring in fries last time we're talking about chips. I would rather of all the things
19:03
type for breakfast, fries, ice cream. Yeah. Well, we can now invest in an ice cream company,
19:09
a pure ice cream company. Has that never happened before? Well, this is the biggest ice cream company
19:15
in the world, Magnum. I wish you'd made a game where we could have guessed. I know.
19:20
Cornetto, trumpet. Yes. Paradiso. You know how to do so. The Magnum ice cream company is now a
19:27
public company as of last week. Oh wow. Yeah. So you can buy shares in Magnum. One of the biggest
19:34
ice cream companies in the world. It's been spun out by Unilever. Oh yeah. Oh my god. Can I explain
19:39
a spin-out? Yeah. Okay. So spin-out everyone. So companies do spin-outs when they have heaps of
19:46
different verticals. Why are you already loving it? Because I'm just like picturing like one of those
19:49
cars, a spin-out, like a burn out here. Burn out. Sorry. Can I explain a spin-out? Spin-off. Okay,
19:56
spin-off. I've got the words wrong. That's why I was wondering what you were loving it. Okay,
20:00
so a spin-off. Yeah. A spin-off is basically businesses that have heaps of different
20:07
products or departments underneath the whole. To be honest, looking back at Warner Brothers would
20:12
be a good example. Yeah. You look at Warner Brothers and all the different businesses that sit
20:16
underneath that. So for example, HBO or the other media companies, let's say HBO was doing
20:21
really, really, really well. But because it's under this parent company, it's kind of not
20:26
getting access to the right amount of resources to grow it at the same rate that it could otherwise.
20:30
They spin it off. Yeah. Spin it off. A carbon out kind of thing. They carve it out. So they're like,
20:35
okay, you can be its own business. You're actually good enough to stand on your own two feet. So
20:39
you can now be a separate business. You can get separate shareholders, separate management
20:43
team, separate capital and money to grow. That's yours and yours on there and you go and you thrive.
20:49
And usually they do really well because they've already got proven track record. The reason
20:53
they're spinning them out off, whatever it's called, is because they're doing well and they have
20:58
potential. So by pulling them out, you know that they're going to do better. It's almost like they're
21:02
it's almost like they're undervalued currently sitting in this big conglomerate or this big business.
21:07
And it's like, yeah, you're right. They have potential, but maybe they're not performing to
21:11
the highest potential because they're restrained by the bigger business. Yeah. There's red tape in
21:15
order to get budgets approved for some marketing. They have to go through, you know, like it's
21:19
little things like that. So they kind of spin them out and history shows, research shows that,
21:24
you know, majority of times spin us do really well because they've now got their own space.
21:28
They're on room to breathe or something. So the reason that Magnum have gone public,
21:33
because of exactly what you're saying, they haven't had the internal resources. And so to be
21:37
able to get access to more capital to grow at the rate that they think they can, they need to go,
21:42
okay, cool everyone, we're public. Give us money by shares in us. And then they have that money
21:46
to think I'm growing bigger. Yes. Yeah, except Unilever shareholders, there is kind of this carve out
21:51
where as a Unilever shareholder, you now get shares in Magnum. And you've also got your shares
21:56
in Unilever. Then there's like, again, another digestion period where it's like, okay,
22:01
some people were like, actually, I don't want to own shares in a pure ice cream company.
22:05
I quite liked having my shares in Unilever with this diversity. So I'm going to sell those shares.
22:10
So there's a bit of, so it hasn't performed very well, but it's only been a week. And that's
22:14
because there's shareholders in there that don't want to own that. So they're selling them. And then
22:19
but then there'll be shareholders coming and be like, awesome. I've always wanted to own
22:23
a nice cream brand, but I hadn't liked the rest of what Unilever was about. So I'm going to buy
22:28
these shares. So and also there's a, you know, once they start putting out good financial results
22:34
and all of that, then that creates a lot of demand and then the share price as well, hopefully.
22:37
But the reason it was spun out is because Unilever has a lot of kind of personal, it's mainly
22:43
personal care brands. Like so dove, they've got dove, you know, like, yeah, your shampoo's
22:48
conditioners, yeah, all of that. And so many brands and that as well. I reckon if you look,
22:54
if you looked on any kind of personal care product, even like some real rogue ones,
22:59
they've got hundreds of brands. You flip it over, look at the back and you see a little U. I mean,
23:03
we know Ben and Jerry's obviously there's been a lot going on there. Well, links, Rick Sona,
23:07
Trissimae, Sun Silk, Water Blast from the past, quite 90s. Sona has lipped in. God, there's
23:13
just so many. Yeah. So they, the reason they spun out the ice cream division was, firstly,
23:24
it's a lot more logistically difficult to transport frozen goods in all of that than it is
23:30
skin care, personal care consumer care brands. So they're like, let's just stream out, but
23:34
the streamline business and focus on one, you know, I guess similar division or like similar kind
23:40
of products and we'll spin off Magnum. Also, you hit the nail on the head, the whole Ben and Jerry's
23:47
saga. Oh my God. What do you mean? Go out with Magnum. We don't want to do with you. You're
23:55
an ice cream. You're in this division. You're not part of Unilever anymore. Oh my God. Okay.
23:59
Right. For anyone who missed this, there was a huge saga that happened with Ben and Jerry's.
24:03
In fact, it's been going on for years. Yeah. They were bought by Unilever. They were bought
24:08
for millions and millions. It was super like amazing for the founders. The founders worked at Ben
24:14
and Jerry's within Unilever once they'd been bought and they'd been a huge amount of issues
24:19
particularly with the war in Ukraine. There was just so many things going on that meant that
24:24
the founders were sort of at war with the people who bought them, Unilever. And it was just such a
24:29
headache. I think they had their own independent board within Unilever. It was quite an interesting
24:36
structure anyway. It ended up with the founder of Ben and Jerry's leaving. Not that long ago,
24:40
actually. And kind of throwing the towel in and being like, I'm really gutted. This is
24:45
panda out, but I can't be here anymore. So anyway, Ben and Jerry's has is obviously an ice cream
24:53
and it has been spun off with Magnum. So and Magnum owns like within this company, I'm saying Magnum,
25:00
but that's the name of the company. But it's like Kylipo, Veneta. There's so many ice cream brands in
25:05
here. Yeah. Okay. So all these are popsicle. I think you all do quite well. Well, okay.
25:14
Sorry, this was not supposed to be this long of a story, but it's great. It's kind of,
25:19
it's I was showing it to the next episode to find out why. I was just saying like some kind of
25:23
pun about it dripping, you know, like it's something like it's sweet deal. It's just good
25:29
puns. Yeah. The deal's gone cold. We could go on. I love when you're really proud of it.
25:38
I know. We had to come up. We had a pub because the other week for our Christmas party,
25:42
we had to come up with a team name. We didn't do very well. No, I thought I was real.
25:46
Originally she said, oh, that's a classic. I know. We have to say what it was with our schools.
25:50
Okay. So first off, we were basically told there was points for the best name. So we thought,
25:55
great, we're creative. Let's get into this. Yeah. And Vic was really kind of like tuned out with
26:00
the UK geography and focused on coming up with a team name. I was, I was like, I'll do it with
26:05
the name. Yeah. And Vic just looks up without any context to me. No context. And she goes,
26:10
quiz on my face. And I was like, that's hilarious. Surely we go with that. Anyway,
26:16
the quiz master came around and we thought, what do you think? A fun name because she had sort
26:20
of indicated she had dark, like kind of twisted humor. So we were like, this could work.
26:25
Anyway, she was like, oh, that's a classic. It was such a slap in the face. We were like,
26:29
and we thought, well, this is really fun. I was like, thanks, Chat GBT for really stitching me out.
26:33
Yeah, you already had a real personal algorithm going on, but no, obviously not anyway.
26:38
Anyway. So why are we thinking that this is not going to be a very good deal?
26:42
So firstly, is that they've got beneduries. And just because they're spun off,
26:46
doesn't mean that I guess that controversy is over, right?
26:51
Controversy, I think they're really weird. Doesn't mean that everyone's investors are concerned about
26:58
this. It's still a union lever culture and a union lever derived company that they're kind of
27:06
being spun out to, if that makes sense. So there are still issues with their views. This has been a
27:13
jury's view. There's still a prickly relationship there. And so what could that mean? I don't
27:20
know, but investors are a bit like, on edge still, but there's still a bit of uncertainty there.
27:24
Secondly, is what we spoke about last week. All these GLP1 appetites, the presence,
27:31
less people having sweets, and just an overarching.
27:33
OZE Impact, for anyone that doesn't know it. That is the weight loss drug.
27:36
And also an overarching move to health and wellness.
27:40
I did think that when you were first talking about, I thought, how many people are actually eating
27:44
ice cream that much? Because I'm not a massive, I like ice cream, and I'll be there.
27:49
And for some reason, I've had it quite a lot lately, but there's so much sugar in it.
27:53
It's not like the greatest thing to have full before you go to sleep, you know?
27:57
I mean, I love it in summer, and it's a nice trade. But is it on the up in terms of trading?
28:03
I don't know. Ice blocks. That's delicious.
28:07
Gosh, they're delicious.
28:08
They're like healthy. Yeah, it's almost like when you have this, you feel like
28:13
you feel guilty, right? It's very 90s.
28:15
Yeah, via neta.
28:18
Absolute iconic, the cut thing.
28:20
I remember when I was like cracking through the cut, but you know,
28:23
you'd be like three, three waves, like a little piggy.
28:27
I was trying to, over to the left, but what were you doing?
28:29
You did love, you loved your ice cream.
28:31
I won, and ice cream eating competition when I go.
28:33
Does your story Vixen ever told on the podcast before?
28:36
Yes, many times.
28:38
Sorry, I was again, as I was a witness.
28:41
Yeah, we're in Fiji on a family holiday.
28:43
And I went off to like the kids club for the day, and I came back, and I was like,
28:48
Mom, mom, guess what, guess what?
28:49
She said, what, darling, what?
28:51
I was like, I won. She's like, often tested when I was like,
28:53
and ice cream eating competition.
28:57
Her face was like, and I was like, why are you not proud of me?
29:01
I won something, but now, yeah, anyway, I love ice cream.
29:05
So do you think that, if you look at this, knowing that spin-offs, spin-offs, God,
29:09
sorry, why am I, yeah, spin-outs, whatever that calls.
29:12
Spin-offs, yeah.
29:14
Generally, they're a good thing.
29:15
Yeah.
29:16
But you're not seeming overly optimistic about it.
29:18
I just think I'm a long-term investor, and long-term, do I see more and more people demanding
29:26
and eating ice cream, and therefore growing the revenue and profits of this business?
29:30
Probably not.
29:31
Interesting. Super interesting.
29:33
So if you're investing with a shorter time horizon, or you're trying to get a quick win,
29:37
maybe that's something that you can think about, but that's how we invest here at the curve.
29:40
No, no, no, we don't.
29:42
Also, another little, another sweet kind of deal,
29:46
will not actually sweet, but Arnits, the biscuit company.
29:49
Yes, yes, Arnits, surely everyone knows Arnits.
29:52
Yeah, they make, they actually make tim-tams as well.
29:54
Emily, have you heard of tim-tams?
29:55
This is our producer, Emily, hello.
29:57
Hello. Hello, guys.
29:58
No, never, never had one, but I've had so much about them,
30:00
but I have tried whiskers chocolate.
30:02
Oh, so good.
30:03
Yeah, I can't, yeah, I can't.
30:05
I think I'll bring back some tim-tams.
30:07
I love tim-tams.
30:08
You buy it off each end, and you suck through a hot drink, and then it all melts, and you're,
30:13
there's actually nothing more messy or gross than eating it like that,
30:16
but it is quite delicious.
30:17
Yeah.
30:18
Anyway, Arnits, the company that owns tim-tams,
30:21
and obviously Arnits, biscuits, and a lot of other brands,
30:24
was really, really struggling.
30:26
And so they actually...
30:28
Is it the same concept?
30:29
People aren't really eating sugary biscuits that much, but like pivot.
30:36
Change it up.
30:38
Make it healthy this way.
30:39
Yeah, yeah, yeah, yeah.
30:39
You can, what is it?
30:40
A hundred percent.
30:41
I can see this trend.
30:42
Yeah.
30:43
Like, I'm sorry.
30:44
So you guys have paid millions of dollars to take this strategy and like trends, and
30:48
I'm sorry.
30:49
And why are they still doing the most sugary, terrible junk food?
30:53
Yeah, yeah.
30:54
Everyone is concerned about longevity.
30:56
And how?
30:56
Honestly, I'm bamboozled.
30:58
But anyway, Arnits has been struggling and the government has...
31:02
Has the US government...
31:03
No, the Australian government has stepped in and given them a $45 million loan.
31:10
What?
31:10
I know.
31:11
And everybody is...
31:12
Absolutely.
31:13
Imagine being a $45 million in debt.
31:15
Whoa.
31:16
Imagine being a $2 billion in debt.
31:20
Is that how in debt they are?
31:21
Yeah.
31:21
Oh my god.
31:22
And they're paying more than a hundred million a year, just an interest.
31:26
And absolute shamosel.
31:28
Last year, they made half a million in profit.
31:31
Oh.
31:32
So, everyone is like, why are you vlogging a dead horse?
31:35
You look at him regime cash.
31:37
But it's, it's jobs.
31:40
Well, Arnits is a huge employer in Australia.
31:43
And so they're trying to save people's jobs.
31:47
So even though it is not a good enough excuse.
31:49
No, I know.
31:51
Also, what happens if they have to close and then they still owe $2 billion of debt?
31:55
Does that just get swallowed up in the closing of a company?
31:57
Because that's really shit.
31:58
That's probably worse than economy than all these people losing their jobs.
32:01
Well, that's why everyone's kind of up and arms.
32:02
So, like, Arnits is backed by one of the biggest private equity companies in the world
32:08
that has funds that, if really believed in this turnaround, could fund it.
32:12
You've gone to the Australian government and used the taxpayer's money
32:15
to give this biscuit company a lifeline,
32:19
which by the looks of things,
32:21
is only going to give it just extended a little bit of life into, yeah.
32:25
So anyway, it's just another little snippet of what's going on.
32:28
I didn't even realize that a government could give a loan like that to a business.
32:32
It feels really strange that a government is supporting a business entity.
32:36
Yeah, they have like funds where they can, it's more like government taxpayers' money
32:41
goes into these funds and then they can allocate into certain different things.
32:44
But when a company is in that dire financial situation,
32:48
the interest rate on that loan must be pretty high because of the risk they're taking.
32:52
Anyway, just showing, again, the trend of we're moving away to this more healthy eating,
32:58
kind of health and wellness, plus you've got these, you know,
33:02
these appetites of present weight loss drugs as well.
33:05
It's just I, personally, can see what you've run, but up and arms about.
33:11
It's everyone's running their toys, but the money's coming from the government.
33:15
Surely it's just time to close.
33:17
If you're in that much check, you're making that little money.
33:19
Yeah.
33:19
Because yeah, that type of loan, even though it's enormous, is not going to move the needle.
33:23
No.
33:24
I wonder how many employees they have, it would be a shitload, wouldn't it?
33:27
It would have to be, because they government to sleep in like that, yeah.
33:30
Also, a quick update on Nvidia.
33:34
Oh, yes.
33:35
They have been approved to start selling their chips in China.
33:38
Now, this was kind of on the car.
33:40
Really?
33:41
For a while.
33:42
And it has been a lot of silence around the whole US,
33:45
Chinese sword fight lately, hasn't there?
33:48
There's not been a lot going on.
33:49
No, I thought we'd just interject a little bit to the end of the year.
33:51
Yeah, yeah.
33:52
Hi, we're still here.
33:53
We're still finding this.
33:54
Yep, there's still and fights going on, yeah.
33:56
Not literal.
33:57
No, but it's very much.
33:59
Well, if you're not going to let us do this,
34:00
then we're not going to let you do that.
34:02
It's been really a lot of back and forth always.
34:05
Yeah.
34:06
And the CEO of the video has been lobbying Trump
34:10
for a long time to get this across the line.
34:13
Where is Nvidia from again?
34:15
US, US, US.
34:17
You're trying to say Nvidia properly and it comes into the wrong word.
34:20
US.
34:21
So when you say lobbying, the US to try and make this happen,
34:26
do you mean putting pressure on Trump to get the deal with China happening?
34:30
Yeah, yeah.
34:31
So that they can open up their addressable market
34:36
to this massive country.
34:38
So it's going to add billions and revenue to Nvidia,
34:41
but the US government is going to take a 25% cut
34:43
on any Nvidia's revenue that it makes.
34:45
Of course, it's happening.
34:46
Which is kind of sensitive.
34:47
Or line illegal.
34:48
Is it?
34:49
Yeah.
34:49
Or least it.
34:50
Is it really?
34:52
Well, yeah, it might not even be legal.
34:54
So we'll see.
34:55
But.
34:55
When you say it might not be legal.
34:57
How is that and how is that being released into the news without
35:00
being sure it's legal?
35:01
Well, it's how they do it, right?
35:03
They can't, if Nvidia takes the revenue
35:05
and then has to pay the government,
35:06
that's I think that's, I know,
35:08
they might become shareholders.
35:09
But no, no, no, it might be a tax or something.
35:13
Do you know, like, there were ways around it,
35:14
but it's like, it depends on their structure.
35:16
They're going to have to get crafty and figure out
35:17
how 25% of their profit can be funneled back into the government.
35:20
Like, if the UK government came to us and said
35:22
any, any revenue you make in New Zealand,
35:23
you have to, you have to pass, we've had to see it.
35:25
I'd be like, yes.
35:26
I mean, they kind of, it's called a tax.
35:28
I guess.
35:29
But yeah, do you know what I mean?
35:30
Next year.
35:30
Do you think this is quite a big green flag
35:32
that Nvidia in general, like if the,
35:33
if the company is able to influence the entire US government
35:39
to let them sell into an enormous new market,
35:42
i.e. China, which is going to open up
35:44
huge amount of sales opportunities and revenue growth.
35:47
It's worth 50 billion dollars.
35:49
The steel, the Chinese market to Nvidia.
35:52
And it's just one country.
35:53
It's like, that's crazy.
35:54
So yeah, it's actually what I'm hearing here
35:56
is probably the sheer price of Nvidia
35:57
has like totally gone through the road.
35:59
No, really?
36:00
Because people were thinking this was going to happen.
36:03
It's already happened.
36:04
Yeah, it's still differently positive news
36:06
because now it's certain.
36:08
It saw a few uncertain.
36:09
But it's way more certain than it was.
36:11
A few weeks ago, but people were like,
36:13
you know what, this is a big lever
36:17
that Trump can pull all that's gotten his, his court.
36:21
And there was like images of Nvidia CEO
36:24
hanging out with Trump.
36:25
So people were like, okay, this is probably going to happen.
36:27
Right.
36:27
Yeah.
36:27
But it's still really positive news.
36:29
Yeah.
36:30
And lastly, some really, really positive news.
36:33
This is amazing.
36:35
So if you all write contribution to the care we leave.
36:37
I can't believe you read my message.
36:39
I'm so stoked.
36:40
I, like, I can't even read your message.
36:42
Not even, but I'm just sort of like,
36:43
you're always across the news way more than me.
36:46
Yeah.
36:46
I also didn't find the deadline.
36:48
Someone sent it to me.
36:48
So I can't actually claim.
36:50
Well, that just claim it.
36:51
Yeah, yeah.
36:52
But how amazing is this?
36:54
Yeah.
36:54
So India is quietly running one of the world's biggest
36:56
experiments in compensating women
36:58
for the invisible labor that they do in the household.
37:00
This is insanely cool.
37:02
India, sorry.
37:03
Firstly, I mean, how has this not been done
37:05
in a country where
37:07
has a much more, I guess, developed financial system,
37:10
the fact that India is doing it.
37:11
I'm amazing, amazing, amazing.
37:13
But I guess to prefer to say,
37:16
women do on average five hours,
37:19
like women on average do five hours a day of unpaid work.
37:23
So that's child care, household chores,
37:26
you know, just domestic domestic work.
37:28
And that is nearly eight times more than men.
37:31
So this whole experiment is how do we compensate women
37:34
for that?
37:35
Yeah. And so they get a direct, direct transfers
37:38
into the bank account to spend how they please,
37:42
because of the work they've done at home.
37:44
I mean, this is amazing.
37:46
And it's unconditional.
37:47
Like, this is just cash transfers
37:49
to help even out the gender pay gap
37:52
in the wealth disparity.
37:53
It's not saying, okay, well, we're going to pay you
37:56
$30, but you have to do five hours or anything.
37:58
Is your time sheet full of them?
38:00
No, it's unconditional here.
38:01
It's money into bank account,
38:02
which not only is amazing,
38:04
not only is amazing for these women,
38:07
but what that represents in terms of independence,
38:11
in terms of your confidence, in terms of,
38:15
it's like so many things.
38:17
It's not, okay, we're going to compensate you
38:19
for the work that you've been doing.
38:20
It's just a flow and effect of so much more in terms of,
38:24
okay, what does that mean when they spend that money
38:26
and what does that mean when they actually grow that money
38:29
and in terms of financial education,
38:31
it just so many things.
38:33
I also think that the idea of just giving it to women
38:38
without they having to be prerequisites
38:40
or things to fill out or prove it's just the idea
38:44
we all know this is happening.
38:45
How can we try and balance the scales,
38:47
but also how much that's going to help,
38:50
I think, a lot in terms of business,
38:52
in terms of relationships.
38:54
There is a lot of bitterness I imagine.
38:56
I mean, this is not coming from someone
38:58
who is doing that for someone else
39:00
or in a dynamic where I'm not being put,
39:02
so it's really different.
39:03
But if I was in a relationship with somebody,
39:06
all these signals just point to we value what you do
39:10
and the time that you spend on these things that up until now
39:13
you haven't gotten any money for.
39:15
And the contribution it makes to the economy into our country.
39:18
And you should have independence, you should have dignity,
39:20
you should have all of that because of what that represents.
39:23
It's just a lot of critics are saying
39:26
that it is a political move,
39:27
which I'm like, I don't care.
39:29
Who gives it?
39:30
Because women are half-population
39:32
and therefore they vote.
39:34
And therefore whatever policy.
39:36
Bring it in every country.
39:37
I'm like, and there actually has been an outsized increase
39:41
in women now voting because of this.
39:44
This is so cool.
39:45
Who is the genius politician that thought of this?
39:48
So, I don't even care what the intentions are.
39:51
Bring it in everywhere.
39:53
This is one of the things that we've spoken about a bit
39:55
on the podcast in terms of the capitalist society
39:59
is run in a certain way, right?
40:01
Women are giving birth,
40:02
having babies, raising the next generation of workers
40:06
to go into the workforce
40:07
to fuel these businesses that are making money.
40:10
The fact that that work is all those jobs
40:14
of what women are doing, that free labour
40:16
just cut out and not considered a part of the equation.
40:18
How do we equalise the playing field then?
40:20
If we're doing five hours a day more work
40:23
than a male equivalent,
40:25
how are we supposed to compete on a global stage
40:29
in terms of showing up to work
40:31
and showing up as a mother
40:32
and showing up as a family member?
40:34
You're like, all of that stuff is so hard
40:36
when you're doing five hours extra day of work.
40:38
But at least now, you've been compensated for it.
40:40
So, there is some kind of reflection
40:42
and you can put that back into the economy
40:43
in terms of spending.
40:44
But also, the fact that women are now showing up to vote
40:49
because they're getting recognised.
40:52
Who does that mean that's going to be in power going forward
40:55
is people that recognise women
40:56
that they're, you know, like the flow on effects
40:58
in the ecosystem is quite cool.
41:02
I'm so glad I found the story.
41:03
Yeah, same.
41:04
And that's all we have here.
41:05
Sorry, that was such a big climax.
41:07
Sorry, sorry, sorry.
41:08
I was sort of waiting for like,
41:09
and...
41:09
No, I do think just to round out this topic is
41:13
I don't agree with just giving women money.
41:16
Like, there has to be, or anyone hand out like that,
41:19
there has to be a flow on in terms of like,
41:21
okay, what is the messaging behind this?
41:24
Why are we doing this, you know,
41:25
the financial education wrap around
41:27
of how to grow that money, and therefore,
41:29
you know, have more independence than all that,
41:31
but it is an incredible starting point.
41:34
And naturally, now that women have this money,
41:38
they will be more interested in,
41:40
you know, how they spend it, how they save it,
41:42
how they invest it, all of that.
41:43
I think that's a really good point,
41:44
that because when I think about the times
41:47
in which I have felt propelled to learn
41:49
or do things differently,
41:50
or educate myself more when it comes to money,
41:52
it's when I have something to start with.
41:54
Yeah.
41:55
It's very hard to find the motivation
41:57
or emotional connection to want to learn and do,
42:00
I don't know, an investing course or research,
42:03
or anything to do with money,
42:05
but the moment in which I reached out to you
42:07
and wanted to help financially years ago,
42:10
was when I felt like I had something
42:12
that I wanted to protect, and I wanted to make the most of,
42:15
and I had a tax back of about $10,000 Australian dollars,
42:18
and I thought, okay, I really don't want to eff this up.
42:20
I really want to do it properly.
42:22
How do I do this?
42:23
And I think by giving women that financial independence,
42:27
recognizing their work, there's so many flow-ons,
42:29
but are ultimately, there'll be a lot of money
42:31
going to the hands of people who haven't otherwise
42:33
been able to get it, you know,
42:34
if all of the money is coming through,
42:36
this is obviously super heteronormative,
42:38
but through a mail and a dynamic and a marriage,
42:41
that no wonder a lot of people don't think,
42:44
I should learn about money or investing,
42:46
because they're not the ones bringing in any of the money.
42:48
Yes.
42:48
There's an obvious disconnect between caring,
42:52
because they have no reason to,
42:54
because they're not in control of any money that's coming in,
42:56
and I think that this really changes things in so many ways.
43:00
I think the ripple effect is, it'll be quite amazing to see,
43:03
and it would be epic if this becomes something
43:06
that starts popping up in different parts of the world.
43:08
I mean, I think that there will be a lot of mothers
43:10
that hear this, and just probably cry with gratitude,
43:13
knowing that it's even being recognised
43:15
at a government level somewhere in the world, how amazing.
43:18
And I know there's a lot of men that do,
43:19
you know, there is a minority of men,
43:22
it is a minority, unfortunately,
43:24
that do do a lot of outsized household work as well.
43:27
And I think the whole conversation of like,
43:29
how do you compensate people that work
43:32
that is not quote-unquote a celery or an employed job?
43:38
Because that's, it is such a large contributor to the economy,
43:43
and we're doing it right now by addressing the people
43:48
that carry the most of their weight, and that is women.
43:50
I feel like this is such an epic end to the year
43:55
when it comes to the curve weekly.
43:56
What an amazing story to end with.
43:58
Yes, we will be back.
44:00
About mid-January.
44:01
Can we hiatus?
44:02
How exciting for us.
44:03
I know, I'm going to read some books.
44:05
Yeah, yeah, yeah, read the books.
44:06
Recharge, eat lots of food, have some time with family,
44:09
and yeah, we hope that everyone's had an amazing year
44:12
and is looking forward to having a break of a Christmas.
44:14
And we've got so many exciting things
44:16
happening at the curve next year,
44:18
which we can't wait to share with you also.
44:19
Yes.
44:20
We hope that you have an amazing time.
44:22
Stay safe, stay healthy.
44:24
Yeah, very relaxed.
44:26
We'll see you in 2026.
44:27
Thank you so much, everyone, who listened this year.
44:29
We actually are blown away
44:30
with the amount of people who love this podcast.
44:32
So thank you so much.
44:33
Yes, over and out.
44:34
Goodbye.
44:35
It sounds so like, you know, we're like,
44:38
about to freeze ourselves for 30 years
44:40
and go into like a space shuttle.
44:41
We're only going for a couple weeks.
44:42
And we're only going for a couple weeks, don't worry.
44:45
Bye.
44:46
Thank you so much for listening to the curve weekly.
44:48
Make sure you hit the subscribe button to stay up to date
44:50
with all the many business stock market news.
44:52
And if you like what you heard,
44:54
we would love a review.
44:55
Thank you.
44:56
Yes.
44:56
We would love a review.
44:57
That if you did hate it.
44:58
Please, don't leave one if you hate it.
45:01
No, but in all seriousness,
45:02
could you please leave a review
45:03
because it really helps other people find
45:05
our cute little podcast.
45:07
And we hope you have a good week
45:08
and see you next Monday.
45:09
Bye.
45:10
Bye.
45:11
So yeah, see you next Tuesday.
45:14
Well, see you next Tuesday.
45:17
I mean Monday.
45:19
No, actually though, new episodes out every Tuesday.
45:25
Okay, quickly the curve was created to empower
45:27
and educate you about investing,
45:28
but we are not financial advisors.
45:30
Our platform exists for educational purposes only
45:33
and it doesn't provide personalized
45:35
investing advice for your individual needs
45:36
and should not be relied upon to make
45:38
an investment or financial decision.
45:40
And always remember to do your own research
45:42
before making any investment or financial decision.
45:45
We're here for any knowledge and support you need,
45:47
but the final call is always yours.
45:49
And thanks for being here.
45:50
You got this.
45:51
Yeah, we know you got this.