Latest / The Curve / The Rise of ‘Kidulting’ & How It Could Make You Rich.

Transcript

The Rise of ‘Kidulting’ & How It Could Make You Rich. · The Curve

• 0:00
  Quick note to say this is a slightly longer episode, the normal, it has been a while
• 0:03
  at Vick and I chatted like this, so we got slightly off-topic at the beginning of this episode.
• 0:09
  But today's episode we're going to talk about. The US government is essentially striking
• 0:13
  and what that means for the rest of the country, rest of the world. We're also going to talk
• 0:18
  about a new investing trend, a new Laboo. There is a grocery product that's also kind of taking off.
• 0:23
  Which sounds boring, very interesting. Very interesting. And lastly, the London Stock Exchange.
• 0:28
  Oh my god, huge sales. There's actually a lot in this episode that is genuinely,
• 0:33
  really interesting. We get past my stubbed toe very quickly. So onto that random story,
• 0:39
  but enjoy the episode.
• 0:44
  How's your morning being soft? I stomped my big toe with a lime bike.
• 0:48
  Oh, like I thought it was leaning against. So for anyone that's not based in London,
• 0:53
  lime bikes have become quite normal. Like they used to be kind of embarrassing. I remember saying
• 0:59
  to people like I'd go to a blind date and if I saw him on a lime bike or like dismantling a
• 1:04
  lime bike, I'd be like, oh, okay, okay. Also, when you can't put the seat up and you're riding.
• 1:09
  Oh, yes. I'm like, oh my god, my God, my God, my God, my God. It's so embarrassing. But anyway,
• 1:13
  so now it's become really common. Like most people get around London using e-mikes.
• 1:19
  And in summer, I reckon in winter, it's so hard because it's rainy. The number of times
• 1:24
  we've turned up to work absolutely changed. Yeah, true. It'll be interesting to see what happens
• 1:29
  because this is probably the biggest year e-bike that had right. Yeah.
• 1:33
  Like this morning, it was raining and when I got on my lime bike, I had to wipe the seat. And
• 1:37
  anyway, it was leaning against a fence, which often means that like the stands broken or something
• 1:43
  is broken, which at the moment is like very common, like often missing a seat or the mistake.
• 1:48
  Or like you jump on, you're like, this one's great. And then you go to riding, it's got no
• 1:51
  pedal when you fall over the handlebars. It's honestly just like, it is constant anyway.
• 1:56
  So I went to like get on this lime bike this morning and I came to like sort of stand it up
• 2:01
  because I assumed that the stand wasn't working. The stand was working and it just like,
• 2:05
  because they're so heavy. Yeah. Bully squished my big toe. And I was like standing there like,
• 2:10
  don't cry, don't cry, don't cry. And the skirt was like, in lime bikes, I was like, I know.
• 2:15
  She was like, this is my third lime bike this morning. I've had to jump off three. She's
• 2:20
  just like, I'm off it. And it's always when you're in a hurry. Yeah. But it did make me think
• 2:24
  that I was like, I wonder if lime bikes or e-bikes are what, because limes feel like they're
• 2:30
  turning to shit and the sense that they are always broken. They're like, it's so hard to...
• 2:35
  Honestly, it's quite funny. You see someone like looking at a lime bike before they can scan it to
• 2:39
  use it and they're like, checking the tire, checking the, you know, because it's just like common
• 2:44
  knowledge. They're all shit. I wonder if there's like, investing ideas in up and coming e-bikes or
• 2:50
  something? I actually read a headline. There's more e-bikes now in the world than EVs. They
• 2:55
  electric vehicles, which is quite amazing. But yeah, I think even with that, like there's such
• 3:00
  demand for any electric mobility. That's, yeah, I mean, I don't know any like up and coming
• 3:08
  electric bike companies. But yeah, it's definitely like an overarching brand. But it's almost just
• 3:15
  like, Uber just needs to get its A into G. Fixers Limes. True. Oh yeah, because... Oh wait,
• 3:19
  over on time. Yeah. But also like I think the amount of times I use a lime versus the issues
• 3:27
  I have versus like how we need the R on the streets. I know we can play. But you know if like
• 3:33
  something works, you don't even think about it. It's when it doesn't work. It's like when you read
• 3:37
  reviews for a bad restaurant and you're like, oh, that must be terrible. It's like, no, no, because
• 3:41
  if you go and you have a really nice experience, you don't, you know, most of the time you don't
• 3:45
  live a review. It's only when you have a bad review, bad time. Yeah. So then everything looks
• 3:51
  a little bit worse for that restaurant. Anyway, that's kind of what I'm getting at. But also,
• 3:55
  I reckon I've lost so much here when I... You're going to say, wait for some reason. I was like,
• 3:59
  you're not exactly like working on any calories on an e-bike. I know, it's so fine. I'm going to
• 4:04
  just like, just get that off. I always love people on all bikes. I'm like, suck it. I know.
• 4:11
  And they're probably like lazy birds. Yeah. Yeah. I love biking. It's actually in summer and
• 4:16
  I might win my hairs in the wind and I'm like, got my hair down. I've got my legs. Yeah, I love
• 4:20
  your den and my ears and I'm like, I love London. And then I get to work on my... What are you doing?
• 4:26
  Honestly, it's like clumps. I mean, I will take matted hair and like a 15-minute journey
• 4:33
  over 45 minutes on a bus that smells of someone's peanut butter sandwich any day.
• 4:39
  Yeah. Before we get into the news, I wanted to say I did something last week. So,
• 4:45
  firstly, thank you so much, Emily, for filling in. I know that was lunch.
• 4:49
  Cheers. It was very good, wasn't you? Yeah. It got me psych. Oh, God, I'm out of a job.
• 4:54
  But no, I took a week off and I speak to it by myself in the middle of nowhere. And when I say
• 5:00
  the middle of nowhere, I didn't have a car. I couldn't get food. It was like, no e-bike. No e-bike.
• 5:05
  I was on a kind of like my family's farm. There's a little cabin that I stayed in anyway.
• 5:11
  It was the first time that I had put time in. Do you remember when I did that, the
• 5:15
  passenger meditation age? It was like four years ago now. It was 10 days of not talking and
• 5:20
  it was like really off the grid and it was so good. You really made up for it now, haven't you?
• 5:26
  But I was like, God, I really haven't had time by myself for like time to just think or decompress,
• 5:31
  you know? And I think when we have holidays or breaks, it makes sense to want to go and do something
• 5:36
  fun with friends or like, I don't know, go traveling and make the most of it. But even if it's a day
• 5:42
  or a weekend, the skid space and like the clarity and the calm that I think you get from being by
• 5:49
  yourself is so amazing. And I just wanted to encourage anyone that's like, wow, I feel like
• 5:54
  overwhelmed or whatever. I think that even if it was a weekend, I know there's those little cute
• 5:58
  cabins in New Zealand, the unyoked ones, which we've both stayed in. And you can kind of disconnect.
• 6:03
  They're not super expensive. I don't know. I just, I feel like there's so much going on in the
• 6:09
  world at the moment. It can get really overwhelming. And sometimes all you need is just a minute in
• 6:13
  nature to be able to just come back feeling a bit more refreshed. Yeah. I feel like it's time
• 6:19
  well spent, even though it can feel like a way. So you're like, oh, I could be in Italy,
• 6:23
  could be anywhere. So it's like, yeah, sometimes maybe all you need to do is sit your ass down,
• 6:27
  watch your Netflix show, go for a naked hot tub. Do a lot of people like this. So many mums
• 6:33
  listening, being like, I would love to take a week off and go into the woods. But no, Bill Gates
• 6:39
  does it. He goes to, I mean, he's probably got a million houses, but he goes to like one of his
• 6:44
  spots, but he takes like 10 bags of books. Really? And he just reads, reads and reads and reads and reads
• 6:51
  and reads for a week, just like book after book after book. I was like, it's your dream. I know,
• 6:56
  but I'm like, I don't know, like that much condensed reading in a week, like the number of books that
• 7:01
  he goes to is insane. He must read like one or a couple of hours or something. Just unfortunately
• 7:05
  very slow at reading, like it would take me a week to get through one. But I mean, Bill Gates is
• 7:11
  one to look up to. So maybe he's on something. Have you seen his daughters in your business?
• 7:15
  No. Oh my god. I mean, Nepo baby, but you know, it's this, I'm going to butcher this, but it is a,
• 7:22
  like an app that you put on your own when you go shopping. And so say you wanted to buy that
• 7:26
  black blazer. And you are on the website for memu because I can afford memu. Say you're on the
• 7:32
  memu website. And you're like, oh, this place is cool. Um, it would pop up where that is sold
• 7:38
  at the price is like, yeah, yeah. And so you just have this like little, I don't know,
• 7:42
  attachment to your wherever you're searching. And it's like, hey, it's actually 80 pounds on this
• 7:46
  website. Oh my god. No, that is such a good idea. So incredible. Yeah. Well, that is so clever
• 7:52
  because I reckon so many people just spined hours. Yeah. I've started asking chat, but even yesterday,
• 7:59
  I went to try and buy these Korean face masks, which I swear by every time I put them on,
• 8:03
  although it's the ones that dissolve it now. I owe dance or something. Yeah, yeah, the
• 8:07
  saga. Holy shit, guys, I look 10 years younger wearing them. Don't put me off the moon. I don't
• 8:11
  know. It's just when you wake up and you forget you've got an arm, you know, and you're like, see,
• 8:15
  I wake up in the middle of night and it's not quite done yet. Yeah, I just off that. So I
• 8:19
  wrote great for planes, but what was the point here? Oh, yeah. I went to buy 10 of them at this
• 8:24
  Korean place last night. Yeah. And then I quickly looked online to like, this is so naughty, but like
• 8:29
  on Amazon or other places to see how much cheaper it was. And I was like, it's five pounds less
• 8:34
  for four. Yeah. And I was going to get 10. So it's like essentially 10 pounds, which I know isn't
• 8:38
  like huge, but you know, when you're on a budget, that's quite a bit. So then I put them back and
• 8:43
  I just got to immediately and thought, okay, I'll get the rest online. It's called for you. Herb,
• 8:47
  her business. Yeah. PHIA and shopping assistant. Such a good idea. Because I did that I had to
• 8:54
  awkwardly go, excuse me, I'm not going to pay for these and step to the site and then had to quickly
• 8:58
  like look up where I could find them to check the price, but that's such a good business model.
• 9:03
  An AI agent to help users make smarter purchasing decisions by comparing prices, resale values,
• 9:08
  product details, but remember, she would have so much pressure to do something epic. Imagine you'd
• 9:13
  be paralyzed by all the different ideas you have. Oh, what's Dad getting a thing? I know. Yeah.
• 9:20
  And then also like, like, even I just said, let me put it back, you know, like, oh, well, of course
• 9:24
  your business is going to be well. You know, I like all of that would be like, I just think you've
• 9:28
  damned if you do, damned if you don't see me as well do it. And if you're advantage, like,
• 9:32
  your dad's a tech guru, do something in the tech space, you've got so much connections,
• 9:37
  get funding, like don't just, yeah, do something. Do something. Yeah, because I agree. And I
• 9:41
  hurry back. And do something with us, you know, if you want to, like, you know, start something,
• 9:46
  just reach out. It's totally fine. We're all ears. But even if it's selling toilet paper,
• 9:51
  anything. Oh my god. Actually, on that, we quickly read out, I'll like paraphrase it, but that
• 9:56
  email that we got about someone wanting to know more about business, because I think this is
• 10:00
  such a perfect segue to talk about women, business and the idea of like starting to think about
• 10:05
  ideas. Hey, the curve team, I've never reached out to a potty before. So I'm feeling like I've gone
• 10:11
  wrong, but I'm experiencing a frustration with business and investment opportunities and the
• 10:15
  barrier that we face as women. And I wonder if this is something that you could or would want to
• 10:20
  cover in an episode. I've always wanted to own a business and yet I still haven't done anything
• 10:24
  about it, because I don't really know how to go about it. And I haven't found any advice,
• 10:28
  resources to help someone like me understand what opportunities look like or are available,
• 10:33
  or better yet, even a role model who has done this. I know lots of women that have founded their
• 10:37
  own businesses, some that have great success. And I hear about this often, but this normally happens
• 10:42
  within the sphere of interest or knowledge. And it's on a small scale. People start salons,
• 10:48
  they start food businesses, interior design, baby products, financial education for women,
• 10:53
  and brackets, bravo, etc. I don't hear anything about women buying insulation factories, bus
• 10:59
  equipment, and porters, glazing installers, things that they know nothing about, making a ton of
• 11:04
  money and then selling them for millions of dollars two years later. But I do hear about heaps of
• 11:08
  men doing this. Why? I think that there's a worthy discussion here and a proportion of the
• 11:13
  population. And I assume that these are majority men well-educated afloen backgrounds know that
• 11:18
  there are business and investment opportunities available to them that other people would never
• 11:22
  even realise existed or are possible. How do we raise the curve and lift the curtain for the rest
• 11:27
  of the population? What makes one portion of people likely to achieve this in others? I don't
• 11:32
  think it's necessarily skill. I think it's belief. Thanks for listening. And thanks for an awesome
• 11:37
  podcast. I'm an avid listener and love what you do. This got me thinking. What did you think?
• 11:42
  I have two thoughts on that. Yeah. Firstly, at a point around, you know, lots of men are buying
• 11:47
  businesses. The years ahead in terms of building their wealth, right? Like them we are.
• 11:52
  You mean because they've money to buy it? They've had access to investing. They've been the
• 11:59
  breadwinners for so long. And I'm using very traditional roles here. But they're just miles
• 12:04
  ahead. And we've seen that there's why there's a wealth gap. That's why there's a gender pay gap.
• 12:09
  Like all of that. So that's kind of, I think that's probably why she's saying there is more
• 12:15
  men buying businesses because they have the wealth to do it or the money to do it. The other thing is
• 12:20
  when she was like this typically is, you know, businesses that there's a fair knowledge,
• 12:25
  their sphere, their sphere and knowledge, which is so true, right? It's a very different sphere
• 12:31
  to ours. One of my favorite things is if it's getting worse wrong. It's a soft brand for someone
• 12:39
  that says, if you were interested in a manufacturing facility, then you would. But like very little
• 12:46
  woman are because we're not really in those roles either. You know, they're much more, you know,
• 12:50
  intensive and like hands on and, you know, we tend to be more in like nursing or, you know,
• 12:56
  teaching, which again, huge generalization. But so like we're not going to identify its opportunities.
• 13:01
  But that's okay. It doesn't mean there's the ones over here are less fruitful because they're not
• 13:07
  going to identify. But that's kind of what she's saying though is like, why are, well, what I read
• 13:13
  from that was like almost the idea that for guys, it doesn't matter if it's the area of confidence
• 13:19
  they're just looking for businesses. They don't care if it's like a society, right? It's how
• 13:23
  we've been brought up. It's how we've been told. It's like me and grow your wealth woman, save your
• 13:28
  money. You know, like it starts from such a young age and it's like conditioned in us, you know,
• 13:33
  the number of moms they talked to and they're like, oh, my son who's like 13 is, you know,
• 13:37
  talking about stocks and trading with his friends doing like fake investing clubs and stuff like that.
• 13:43
  Where's the daughter's into skincare and like, you know, and it's just like they don't even know when
• 13:48
  that separation happens. Like it's just so systemic. I think it's also, you look at some of the most
• 13:53
  successful businesses in the world, like even that flow app, the female period app was founded by men.
• 13:59
  You know, that was an opportunity if women had been thinking or had their business hats on.
• 14:05
  We could have spotted that. I think also, sorry, before I forget, I think it's just like very
• 14:10
  efficient. It's like this is actually a really good, like hats off to her for sending this and
• 14:15
  being interested in like spotting like, hey, hang on, why can't I do that? Because that's like
• 14:19
  the start of unpacking it, right? And like, it might not be in our generation, but it's like,
• 14:24
  you know, the more that women start thinking about this, the more closes they get. But also,
• 14:30
  Warren Buffett always talks about this and that is that like it's the boring businesses that
• 14:36
  sometimes the most successful, you don't have to have the glossy new app or, you know, like the
• 14:42
  one with the shiny storefront. It's like toilet paper, you know, it gives a crap. What an epic
• 14:47
  this is. Yeah, you can make like even like, I remember this business that it had a monopoly. So
• 14:52
  it was like the sole, sole creator of hawks for wine bottles. And it was worth billions, like,
• 14:58
  things like zips, the company that invented zips. You don't even think about like aluminum cans.
• 15:04
  How many people are moving to cans like glass and cans over plastic now? Like those types of
• 15:10
  porn equipment, boring businesses can make millions of millions. Absolutely millions. And it's like,
• 15:15
  you don't have to think, yeah, it has to be like shiny and new and yeah, you can just buy an
• 15:20
  existing business and make it slightly better. And then have this really great income stream
• 15:25
  for the rest of your life. Okay. Yeah. Now, before we move into the news, no, no, I'm sorry for
• 15:31
  this. Like I think there is such a massive opportunity to talk about business, how to run a
• 15:37
  business, business finances, to talk about what does it even mean to buy a business? What would
• 15:42
  the things be that you should look for? If you have an idea and you need to be funded, and therefore
• 15:47
  you need to go and raise capital, how on earth do you do that? I think that if you are at all
• 15:53
  interested in this, I would love to put a poll on this podcast, wherever you're listening,
• 15:58
  if you can vote with this is something you'd be interested in, and just feel free to comment
• 16:02
  anything because we are in a position where we could totally go and do content to help educate
• 16:09
  on this. And I think that businesses and growing wealth, you're right, Vic. It's like the most
• 16:14
  of the way that men have made squillians and become so powerful when it comes to their finances
• 16:20
  is through business. And if so many of us are not thinking about the idea of that or even know
• 16:24
  what kind of like entry point there is for some, you know, then of course we're going to continue
• 16:29
  to step behind. So yeah, even if you're in a job that you love, but you'd be interested in hearing
• 16:33
  about this, please can you comment or vote on this podcast because I think that it would be amazing.
• 16:40
  Should we get onto some news? Yes, sorry. I feel like slight digress is my end. I'm begging for it.
• 16:46
  Yes, but is that weird? Is that sexual? No, no, no. I mean, it kind of it is a thing. I'd say
• 16:51
  I'm gagging for your outfit, like it's a phone right now. That's weird. People are like, oh,
• 16:56
  I gagged. That's right. I mean, everybody is younger. You know, and you don't really know what
• 17:01
  words mean and you kind of like, you know, I'd be like, bollocks and dead would be like, excuse me,
• 17:06
  and I'd be like, I don't even know what it means. Balls. Yes. Did you know that? Bullocks is balls.
• 17:13
  I know. Exactly. And he lost it. And I was quite young. I was like, Pellocks. And he was like,
• 17:17
  don't you do this anyway. Another time, this might not be podcast worthy, but I'll just say
• 17:22
  all you might need to like be part of a whole lot. Anyway, I'd wear at the dinner table with, like,
• 17:27
  my auntie and I think like mum hadn't, mum had had some friends over and I was talking about
• 17:32
  something obviously really passionately. And I was like, I think it was a restaurant or somewhere
• 17:36
  being, but that's quite young. Anyway, I was talking about something and I was like, oh my god,
• 17:40
  it was so good. I cream my pants. And I had no idea what it means. And even on the table was like,
• 17:48
  and I kind of knew I was like, oh, I've seen something. Because if you don't know what it means,
• 17:55
  you're like, okay, I've seen something and it must mean all the connotations. But Eve Ram was like,
• 18:00
  right. So the we're there. Yeah, it was probably like, if I make a scene, she'll know it's a bit like,
• 18:05
  if we just brushed under the rug and like, I know. And I was like, kind of a cute phrase. Do you know
• 18:12
  it's not like, it's quite sexual. I know. I was like, yeah, it's my pants. There's so much good
• 18:18
  stuff that's happened in the news this week. The biggest one is, I've got here US shut down.
• 18:24
  The US has not shut down. But I love the dramatic title. Yeah. Got to embellish things a little
• 18:30
  bit. I love it. Clickbait. Yes, clickbait is the word I was looking for. Anyway, the US government
• 18:36
  has shut down. That is quite a big deal. I know. Yeah, just Mr. G would in there. But yeah,
• 18:41
  it's still quite a big deal. I mean, honestly, I would have said that's more clickbait. Yeah,
• 18:44
  okay. It's the US government. It's like US shut down. Oh, we got COVID again and cool. We've
• 18:49
  been here down there. Yeah. The US government is shut down. Now, this is also worth saying this
• 18:53
  is at the time of this recording. So like, there may be some evolutions in the next couple of days,
• 18:58
  right? Yes. Yeah. How did we get here? What does it mean? So like, with, with in the US,
• 19:03
  the US government effectively runs a budget that has to be approved by Congress. So if there is a
• 19:09
  breakdown between the US government and Congress of like not giving them money, not giving them
• 19:14
  an appropriate budget for certain things, or they can't agree on how much they spend or where
• 19:18
  they should spend it, they can't really operate as normal the government. So they like shut down
• 19:24
  and they go, you know what, you're not giving us the funding. We're not going to operate. It's
• 19:28
  almost like a strike, I guess. If you think of like a bus company or an airline, if the workers
• 19:35
  aren't getting paid what they want to be paid, then they shut down. It's kind of the same,
• 19:40
  but at like a business level. So sorry, where's the money coming from again? From Congress. Yeah,
• 19:44
  which is essentially they dictate where money should be spent. And it's a bit different to New
• 19:49
  Zealand. It's Congress above parliament. Yeah. Government. So Congress sets the budgets or the
• 19:55
  financials that feeds into them what the government does. Yes. Yeah. And as the whole with Trumps,
• 20:01
  this is going to make me sound like the most ignorant person. But the reason that Congress
• 20:05
  is quite a massive deal. Is it because he's starting to get more Trump people up there,
• 20:10
  which means it's then influencing economy and you can get anything through that you can get
• 20:14
  like laws through, you can get politics, you can make a lot of changes. If you get, if you have
• 20:19
  government senate and the Congress, Congress is like there is above the US government. So you
• 20:25
  know, they're telling the US government what they can and can't spend money on. And Trump's gone,
• 20:28
  if you, you know, if if you don't give us what we want in terms of spending, in terms of money,
• 20:34
  we're going to shut down now. Oh my God. So that he's basically Trump is striking. Yeah. And he's
• 20:39
  blaming the Democrats and Congress saying, this is all your fault. Is if he's free PR, if he
• 20:45
  decided to launch a PR company, stunning. In fact, do our PR for the curve. Yeah. Oh, like honestly,
• 20:52
  no, seriously, I feel like I can just get any any weird brainwashing message to be like global
• 20:57
  news. Yeah. I think there's a bigger like I genuinely, you know, how he comes out with all his
• 21:01
  sporadic comments or like messages or, you know, something that you think is so less fielded.
• 21:06
  And you're like, why is he doing? I genuinely think he has a great. Yeah. That's what I meant.
• 21:11
  I think that it's like, no, Trump just say something. Yeah. Yeah. Yeah. Yeah. Yeah. You know, say
• 21:15
  that weird carrot joke. And he'll be distracted. You know, like it's so strange. Or it's like say
• 21:20
  the carrot joke, get everyone to hate carrots because we actually want to bring in some carrots
• 21:24
  from Argentina. Or like, you look at him at like face failure and you think, what an idiot. Yeah.
• 21:32
  But then behind the scenes, whatever is going on, which is why it's scarier because I think he was
• 21:37
  just like, oh, sorry. I think the divide that the fact that he's blaming the democrat, I just
• 21:42
  think the divide he's creating between the Republicans and Democrats is just like very toxic.
• 21:47
  You know, like it's anyway, but with the US shutdown, you might be like, cool. Okay. The US
• 21:52
  government shut down. What does that mean? What does it mean? I mean, the tube strike, we can't
• 21:55
  get to work and to find an alternative. But what does that then mean for the government version?
• 21:59
  Yeah. If you think about that on a like a US, you know, as a country level, the departments that
• 22:06
  can't operate as normal, like defense, like military, border security, air traffic control, museums,
• 22:15
  medical research facilities. So all of these places are being partially shut down or shut down,
• 22:20
  or fully shut down. What temporarily? Because they just don't have money. They don't have money. Yeah.
• 22:23
  Rubbish truck drivers. That was the big one last time there was a shutdown. The streets were just
• 22:28
  piled with rubbish. Sorry. When was the last time this happened? So this is the first time it's
• 22:33
  happened in seven years. I mean, on a seven, seven years ago. I know. And it's the third time
• 22:38
  Trump's done it. So he's he's pretty well versed in this. The last time it happened that it reopened
• 22:44
  was in January 2019. They only really last like, they don't last very long. But it's enough to have
• 22:49
  like a severely disruptive impact. But it cost the economy three billion dollars last time.
• 22:55
  All right, big. But anyway, I just want to touch on those departments because
• 22:58
  medical research facilities like that's like imagine if you're trying to find a cure for cancer
• 23:03
  and now you have to shut down, you know, like all those delays impact people in the health
• 23:08
  in the house sector. The rubbish truck drivers, I mean, that's, you know, all the rubbish truck
• 23:13
  companies that are employed by the council or like regionally, you know, just gross that rubbish
• 23:18
  piles up. But the one that has kind of been getting a lot of tension is these economic data
• 23:27
  and like statistic centers that are unable to release economic data because of the government shutdown.
• 23:37
  So this is what we're talking about. This is all part of a bigger plan. Right. There's a big
• 23:41
  report that is due out on Friday. Oh my god, what is it? It's the jobs report. So it shows like
• 23:49
  how many people are unemployed like it shows the health of the of the of the job market. And
• 23:56
  anyway, that is a really important report which feeds into interest rates decisions. So this is
• 24:04
  all in my opinion part of a bigger plan that maybe he knows that jobs report is going to be terrible.
• 24:11
  Maybe it's his way of getting control over or influencing interest rate decisions,
• 24:18
  which we know impacts, you know, consumers that impacts the stock market and impact, you know,
• 24:22
  so it's like this weird roundabout way and maybe I'm reading into it too much, but everyone
• 24:28
  I love the Sherlock Holmes that you're doing here. All the headlines are like he's doing this
• 24:33
  specifically because there is data that he's either delaying being released or doesn't want to
• 24:38
  release. What is his huge push towards wanting to influence and change interest rates? Why is he
• 24:45
  so because this sounds like it's just the biggest deal ever? Why is it such a big deal for him?
• 24:49
  Because it impacts the stock market. So when we have lower interest rates, people are getting
• 24:54
  less a lower return on their money in the bank. So they're like, you know what, I'm going to put
• 24:57
  in the stock market because I'm going to need a greater return. Also businesses can borrow money
• 25:02
  much cheaper. So if you think of all the businesses that are listed on the stock market, they can now
• 25:07
  be like, actually, I can go borrow some money to go launch in that new market or launch that new
• 25:13
  product or, you know, to to grow. His companies are also publicly listed companies on the stock
• 25:19
  market. He's the bloody president. I know. Surely he doesn't give a shit about his company at this
• 25:23
  point. Like how much money does one need? I know. Yeah. But also you sang all of those things to me.
• 25:30
  It sounds like that's a good economic decision. Why is it bad? You know, like the idea of like
• 25:34
  the money flowing interest, the stock market, more businesses being able to thrive. So how does
• 25:39
  inflation then turn impact in a negative way? Because if it gets too out of control, people
• 25:45
  days to days living expenses get more and more expensive. So they can't afford things. Also,
• 25:50
  companies in the stock market, if it gets too out of control, people aren't buying their products,
• 25:55
  their services because they're too expensive. Like we've seen how detrimental high inflation was,
• 26:00
  you know, when we'd had the cost of living crisis. So you have to be so careful that you don't
• 26:08
  decrease interest rates too quickly or too far. The central bank in the US, the Federal Reserve,
• 26:15
  the Reserve Bank of New Zealand, like there is whole departments that are skilled at doing this
• 26:21
  and balancing this with all other data that's going on in an economy. And then you've got this
• 26:26
  president who has no economic background, just a business mind that wants to influence
• 26:35
  the Federal Reserve. And so this is his way, in my opinion, of influencing the Federal Reserve
• 26:41
  without actually the central bank, the central bank in the US. So like the one that chooses
• 26:48
  whether we go up or down with interest rates. But why is this going to make them choose something?
• 26:54
  How is this? No, I'm so sorry, he's been wanting to influence them for so long and they're
• 26:59
  completely separate. Like there's a reason, you know, so you don't get presidents in power
• 27:05
  that if the economy in the sense of influencing interest rates. So this, in my opinion, is his way
• 27:13
  of influencing. And around a bit really roundabout way, he's going, you know what, I'm not going to
• 27:18
  give you access to the data that you need to make your decisions by shutting down the US government.
• 27:24
  So therefore you're going to have less information, make a less informed decision. It's my way of
• 27:28
  having control of you without actually having control of you. I mean, that's just my opinion.
• 27:33
  I don't know. I don't know. Don't come to me Trump. No, no, no, no, oh my god. We can never go to
• 27:38
  the US. We're absolutely going to be bound forever. We should start like a shadow podcast. That's
• 27:44
  like, we love Trump. So true. So true. And then we get all sorts of like, everyone vote for
• 27:50
  Trump. Like, just have three followers. We'll get visas like that. Yeah. Do you know what?
• 27:55
  That I was thinking this yesterday. So Halloween is coming up, right? Could we do a scary episode
• 28:00
  on how when someone gets into power in government, they can have a really terrifying impact on
• 28:07
  the economy if they do dodgy shit, because I was listening to this podcast the other day that
• 28:11
  was talking about somewhere, I honestly can't even remember what country it was, but it was
• 28:16
  really fascinating to see how much like dictator or like corrupt leadership can really
• 28:22
  fuck up an economy. And like, maybe we could do a case study just because I think what's happening
• 28:27
  in the US. And even this example you're using is like kind of heading potentially in that direction.
• 28:33
  Well, that's scary. Spooky. Spooky. Off top of the episode.
• 28:36
  Oh,
• 28:38
  ashes. Emily off might just said, could we please dress up as Trump? I'm here for
• 28:43
  I'll do Melania and you can do Trump. Fine. I'm fine with that. Absolutely fine.
• 28:48
  I'm going to get the good dress up. That's probably not yet. Yes. Well, this is why democracies
• 28:52
  are so important and why it's so important to vote for who's in power because you're right.
• 28:55
  It's like, you get the wrong people in there. They can actually do some significant damage.
• 28:59
  And what I am hoping this is, I mean, I say we're like, we're not a political platform,
• 29:04
  but we're always like, I know. I mean, we're super in the middle. I know. Love everyone.
• 29:11
  I just hope this is a good reminder for everyone. Yeah, how important is to vote of who's in power
• 29:16
  because they can have a damaging effect and they can actually create a lot more hostility,
• 29:21
  not only increase taxes or interest rates, what do you like it say? They can actually create
• 29:25
  a lot of divide, which is so toxic and so hard to unwind. Anyway, the winner out of all this
• 29:32
  is gold. Really? Golds just gone from strength to strength. I think I've invested in gold actually.
• 29:37
  Nice. Yeah, not a lot, but I remember doing it. I think it was around the time when that giant
• 29:42
  wobble happened maybe six months ago. I put some money in gold. Oh, yeah. So it's, I mean,
• 29:47
  do you want me to do a little spiel as to why gold is so great? Yeah. So I'm not looking at
• 29:52
  nights everyone. I promise. What I think of when I think of gold, that always talks about the
• 29:57
  like to safety. So just close your eyes and imagine a hundred goals flying in the direction. Yeah,
• 30:02
  you know how they migrate towards like safer pastures or whatever. This is the birds flying off
• 30:09
  thinking shit. The land I'm on right now is dangerous. I'm going to fly to safety and where are
• 30:14
  they flying? They're flying towards gold, a golden land that's more stable, that in a disastrous
• 30:20
  environment, everyone knows is going to be fine. And we have so many goals flying right now. Yeah,
• 30:25
  like everyone. Every goal is up in the air from one non-gold land to a gold land. Yes.
• 30:32
  Yeah. But the flight to safety really is the idea of when things feel unstable and scary.
• 30:39
  What can you hold on to? What do you go back to? What is the like tried and true? Gold has been
• 30:44
  there forever. It's tangible. It's blah, blah, blah. Do you think that was a good explanation?
• 30:48
  Yeah. Yeah. Definitely. Now did it. So basically gold is killing it. Gold is continuing to kill it.
• 30:54
  So just for anyone that doesn't know, you can actually buy gold, not necessarily like big bars,
• 30:58
  like from you know, Chuck Bass and Gossip Girl and keep them in a safe. But like you can buy shares
• 31:03
  of gold. And actually, so in the same way you would buy shares on the stock market, you can buy
• 31:08
  gold. There's ETFs. We speak about this a lot in the investing club. There's actually a bunch
• 31:12
  of different gold ideas. So if you would like to, yeah, find out about the different gold.
• 31:16
  It's actually an ETF. Oh, it's called something else. That's right.
• 31:21
  An exchange traded commodity. Yes. Yes. So if you would like to, yeah, look into some of the
• 31:26
  investing ideas that we've done in the gold space, we'll put the link in the podcast show notes.
• 31:30
  So there's a big investing trend. Well, it started to play out already actually, so. But it's called
• 31:36
  cadolting. Who comes up with least stupid names? No, it's not coming at me. Cadolting.
• 31:41
  Cadolting. Cadolting. Cadolting. Yes. Yeah. We saw it with Labubus, right? You know, like all these
• 31:47
  adults being like, oh my god, the boo, boo, boo, boo. Why was I so late to that trend? I just
• 31:51
  remember seeing all these random little fluffy things hanging on people's expensive handbags and
• 31:55
  being like, what? I feel like when I'm late to a trend, I get really like, oh my god, you know,
• 32:01
  late. If I were... You're quite good with trends though, like even long necklaces I've noticed
• 32:05
  you've started wearing. I only wear short ones still. Oh, girls. And I keep looking at your long
• 32:11
  necklaces thinking, I don't know if I like it, but I know in a year's time, I'll be like, I want a
• 32:16
  long necklaces. Anyway, yes. Cadolting is when adults kind of buy into toys and figurines and
• 32:25
  like real kid stuff. And yeah, we saw it with Labubus. We're now seeing it with this, like this
• 32:29
  company that does like jelly cats. These like squishy toys. It's a private company. It's
• 32:34
  really news doubled in the last 12 months. We spoke about this company, Games Workshop,
• 32:40
  which... That random little turtle thing. Yeah. That's it. Yeah. So it's a soft toy. Or the avocado
• 32:45
  at the bottom. What do they... They just like squishy toys. Do you hold them? Yeah. And
• 32:50
  squish them. They're just a toy. Like a Labubus. It's just a toy. So it's not like a
• 32:53
  stressful with a fun thing in the middle. It's just literally a toy. It's kind of like,
• 32:58
  this is my Labubus. And it's a talking point. And they're like, oh my god, I've got a jelly cat
• 33:01
  too. And it's a jelly cat. It's... We're leaning into that nostalgic, youthful, you know, holding on
• 33:07
  to our childhood. Anyway, it has gone... It's a huge trend. And we spoke about this with Games Workshop
• 33:13
  in the Investing Club, like a year ago, even more than that. And that share price has done,
• 33:18
  you know, phenomenally well. But Games Workshop is like little figurines. And I remember when
• 33:22
  someone pitched it to the Investing Club to for me to like, look at it. And I was like,
• 33:26
  we had a company that does that little figurines. And they were onto something. Like, it's crazy.
• 33:31
  And that is why the Investing Club is genius because we all see trends in different parts of our
• 33:36
  lives. Even if you're not investing right now or you're new to investing, that is such a good
• 33:40
  example of, like, keep an eye out for things that you start to see booming. Because in the same
• 33:46
  way that a business benefits from being a part of a big trend, like, you know, whoever's making
• 33:50
  these random stupid soft toys. Yeah. If you start seeing that around you and your friends doing it,
• 33:55
  have an investing hat on. Thank you for being here. Is this a company that is like a publicly
• 33:59
  listed company I could buy sharing? Like Popmart? Who owns the Bobo? The issue prices up 400
• 34:05
  per cent in the last round once. So you put a hundred dollars in, you would have four hundred
• 34:09
  dollars. Guys, and that is why we invest. That is why we invest. There's another trend actually,
• 34:16
  speaking of, I'm on a roll. Really at the forefront of all cool things. I know. Look at me,
• 34:22
  look at me. What is it? Four front of trends. Butter. Love it. Can get into it. I'm really not
• 34:28
  on a salesperson. Yeah. Butter. Eating it. Eating it. So there is a real hype at the moment for
• 34:36
  premium butter. Like, we're talking like $60 for a thing of butter. Like, who makes the butter?
• 34:42
  Like, is what sort of animals are coming from? It's sorry. I'm like, okay, a cow. Yeah,
• 34:48
  others turns into milk. But why is it so expensive? It's cows that have been fed like gold.
• 34:57
  I was pulling your leg now. No, no, but seriously, like, what? No, but I see it's like, it's
• 35:04
  comes back to what Emily and I were talking about last week is like the experiences, right?
• 35:09
  People are way more willing to spend $60 to have a premium butter that tastes delicious and
• 35:16
  is rich in flavor than they think they're spending money on clothes because they want
• 35:22
  their experience of like a beautiful restaurant, a beautiful food, you know, a beautiful holiday,
• 35:29
  a beautiful much, you know, like they're willing to spend a little bit more on these things.
• 35:33
  This is such an interesting trend in my eyes just for anyone that cannot see it. She's sitting
• 35:37
  in the corner with the widest eyes I've ever seen, nodding at us like, this is true. This is true.
• 35:41
  Oh my friends are eating butter. Yeah. Yeah. I look at it in the supermarket and I'm like,
• 35:47
  you know, like the cheapest one, you're just like, oh god, that must be bad for you. A premium one,
• 35:52
  no, it's like a creamy butter is like, I'm a big butter fan. So am I. Don't get me wrong. I am
• 35:58
  on the butter bandwagon, but there's also a health trend here, right? Like the the cheap margarine
• 36:05
  esque, you know, butter, it's got like a lot of fatty acids, a lot of, you know, it's quite bad for
• 36:11
  for you, whereas, and I don't know if this is necessarily true for all premium butters, but
• 36:16
  there is a perception that the more expensive, the more quality ingredients, the better for you.
• 36:21
  I love a health food product, but I absolutely cannot afford to spend more than 10 pounds on
• 36:31
  a block of butter. I don't understand how, like is it that, you know, the Gen Zs will be like,
• 36:37
  come round on a Saturday morning and like their fun activity for the weekend is having toast
• 36:42
  together with really expensive butter. I think it's more because everything has got so expensive,
• 36:48
  right? And spending money on clothes, for example, is just not as, I guess, sorry, actually.
• 36:54
  No, no, no, no, even on that, I heard a stat there the day three out of five Americans are
• 36:59
  opting to rent their wardrobes now rather buying them. Yeah. And I think overseas,
• 37:03
  overseas holidays have got super expensive. So it's like, Emily and I would talk about this
• 37:07
  yesterday, she's still paying for a trip four months ago and like crying in the corner about it,
• 37:12
  because she's like, it was so expensive. And I was in such a budget, I'm like, yes, six weeks
• 37:16
  on holiday is enormous. Like, so it's like, you know, you might opt for a type of butter.
• 37:20
  You know, and Steve next time. So yeah, but there's what I'm saying is like, things are getting
• 37:26
  so expensive. It's like, you know what, this is going to be my holiday. So that sounds really
• 37:32
  good. But yeah, I know I'm being negative and antsy here. I'm definitely, I know you're right.
• 37:36
  I'm just like, it's, it's quite weird. I guess, I guess where I was kind of going with this is like,
• 37:41
  I had a point. This has been really impactful for people who live in countries that export
• 37:49
  dairy products. Okay. New Zealand. Yes. Here we go. Yeah. We are so known for agricultural something
• 37:56
  or rather Emily. And she's looking at me like, what forces cows? We have lots of sheep.
• 38:01
  Our biggest export is dairy. Thank you. That's what I was talking about. And so that's like milk,
• 38:06
  you'll get butter. And when there is such high demand overseas and the prices have gone up and
• 38:13
  up and up because of such high demand, the locals, why if I was a company in New Zealand,
• 38:20
  producing butter would I sell to the local market when I can get time. No, no. Yeah. No, not
• 38:27
  good. No. So this is what's happening in New Zealand in Norway is another country. So
• 38:32
  we're all so greedy. I know. It's kind of just like, I mean, sometimes I just want to go into
• 38:37
  like a world where we all just get paid the same and it's just like, you know, I feel like money
• 38:42
  causes so many issues. Papalism is so problematic in so many ways. I would like to do a quick
• 38:49
  collisial plug. So this is my phone. I know last week you guys spoke at the Maddie
• 38:53
  Borg episode was meant to go out and then I got shifted long story. Basically, that is now coming
• 38:58
  up this week. So on Thursday, last week's episode actually was the soul of money. Do you remember
• 39:03
  we recorded that and loved that episode? If you haven't listened already, it was a deep dive on.
• 39:08
  We did the psychology of money like, it's almost like a financial book club episode. So if you
• 39:12
  haven't listened, I found that really inspiring actually. So yeah, we'll link that in the
• 39:17
  poker show notes as just come out. But the Maddie Borg episode, she's Ginzi. She's this amazing
• 39:24
  content creator, but also has a business called Pestel. Anyway, she spoke a lot about this whole
• 39:29
  like little luxuries thing blah, blah, blah. So I think it will make more sense once you've
• 39:33
  listened to that episode. Yes. Lastly, we've got the London Stock Exchange. So a stock exchange,
• 39:38
  let's give me a minute here. Okay. A stock exchange, whether it's the New York Stock Exchange,
• 39:44
  London Stock Exchange, the London Stock Exchange. That is a place where public companies list
• 39:51
  their shares or investors, you can buy until she is on the stock exchange. But the stock exchanges
• 39:56
  are companies themselves. So they can actually, this was confused by so much in the beginning.
• 40:01
  They can actually also, I can't believe face. I can just see you squinting in the corner like,
• 40:06
  what? The stock exchanges are companies themselves so they can list on the stock exchange.
• 40:11
  I'm going to try this, break it down because this really blew my mind. So it would be like,
• 40:16
  so we imagine the stock exchange or any stock exchange like a farmer's market, right?
• 40:21
  The farmer's market has heaps of different stalls. So there might be a cheese stall and they're selling
• 40:26
  cheeses. You imagine a company is that stall, the cheeses they're selling are the shares. It would
• 40:33
  almost be like, maybe, okay, go for that. It would like be the owner of the market being like,
• 40:41
  I'm actually going to my own cheese stall because I want to be a part of this. I want to expand and I
• 40:46
  need money to expand my market and have more stalls. I am going to sell something and sell something
• 40:54
  to get money to then, yeah, yeah, yeah. It's almost like, yeah, yeah, because companies have to pay
• 41:02
  to be listed on a stock exchange, right? So the stock exchange, that's their business model,
• 41:06
  is companies coming trying to list there. It's the same as a market. You have to pay to have your
• 41:11
  stall at the market, right? It's thinking about the layer on top of that is also a business and you
• 41:17
  can buy shares in that business. But basically, the point here is essentially what you're trying to
• 41:22
  say is the London Stock Exchange has, however many companies listed on it, I should have no idea.
• 41:27
  It has just dropped out of the top 20 stock exchanges in the world. Oh, God, that's so good.
• 41:32
  Been overtaken by Mexican Singapore. Yes. The biggest is actually the New York Stock Exchange,
• 41:39
  which makes sense. It's taken over London. It's share prices fall in about 23% this year.
• 41:46
  It's terrible. And that's mainly due to two reasons. It's all about supply and demand, right?
• 41:52
  If you don't have the ripus fruit to sell at your market, people are going to go elsewhere.
• 41:59
  And the UK doesn't have exciting tech companies or AI companies. It's got pharmaceuticals,
• 42:06
  it's got oil and gas. It doesn't have the exciting things that people are wanting to invest in
• 42:11
  right now. So it hasn't got people trading on it and using the exchange.
• 42:18
  Like quite dire those. Yeah. And then also that speeds into, well, if I'm a new company,
• 42:25
  do I want to go to the party where no one is attending? Absolutely not. Yeah, no, I want to go to
• 42:30
  the exciting party. And so it kind of fuels this like, it's like very strong setting empty.
• 42:35
  You're like, oh, that's terrifying. It's got to the bus. And then it's like, then you don't get
• 42:42
  money in, then you can't stay open. You can't get good staff to make good foods and then you can't
• 42:47
  stay open. So it's like this whole year. So this is why IPOs. So when a company first lists on
• 42:52
  the stock exchange, it's so important stock exchanges, because not only do you get a huge
• 42:56
  fee upfront, but it's exciting. And this is why there's been such big fights over like
• 43:02
  high profile companies like, where they list or where they lose or clear, you know, those
• 43:07
  get we can for example, when it IPOs like, it is going to have the exchanges in the palm of
• 43:12
  its hand. You know, it's going to be like, who wants me? Who's going to give me the best deal?
• 43:17
  Who's going to? Yeah. So. And then everyone's pitching. It's almost like an eight creative agency
• 43:21
  trying to get like, I don't know, some brand on board. It's like, well, this is what we're proposing.
• 43:26
  We can do this and we'll drop this rate and we'll make sure that you can do this and then they
• 43:29
  just get the pick of the litter. Yeah. Anyway, when a share price is down so much like the London
• 43:36
  Stock Exchange, like the Stock Exchange, the shark, the shark and they come and they come and they come
• 43:44
  Trump and Euronex, which is one of Europe's biggest exchanges has started to circle. Oh my God,
• 43:51
  it might want to swallow it up. And the CEOs come out, the CEO of the London Stock Exchange has come
• 43:55
  out and said, we're not for sale, but like, all right, darling. Yeah, I know. It's like, you kind of
• 44:02
  yeah, it's like, if there could be a hostile takeover, they could like start buying shares
• 44:06
  under the radar and then just like pop up with 20% and be like, you know what, and then shareholders
• 44:10
  because it could get effed off and be like, I have sick of the London Stock Exchange performance,
• 44:15
  I'm going to sell my share. Yeah, it's what would happen if someone bought the whole exchange?
• 44:20
  Does that mean every company that's listed on the lock exchange on the London Stock Exchange would
• 44:27
  then now be listed on like the Mexico Stock Exchange if they bought it? No, it just means they
• 44:31
  own it. So it's still be listed on the UK Stock Exchange, but the money that the London Stock Exchange
• 44:37
  makes stays in the UK, right? Whereas like, if someone, if an international owner buys it,
• 44:43
  then any money that's made by that business goes back to where that company is. So it's essentially
• 44:49
  draining the UK of potentially more resources. It's also just perceptionally,
• 44:54
  that it was perceptive. It was also the perception. Optically,
• 44:59
  having your national exchange owned by another country, especially when you're London and you're
• 45:08
  supposed to be like one of the financial hubs of the world. It's just, yeah, it's just like a,
• 45:14
  you know, not good. Yeah, not good. So but this is the reason why share prices, if you're
• 45:19
  invested in a company and the share price doesn't continue to dwell, if you're leading a company
• 45:22
  and your share price doesn't keep generating a good return for investors, you know, you,
• 45:27
  you do open yourself up to other situations happening. Not good. I'd also just like to say,
• 45:33
  I think we explained that very well. It's quite a complicated situation. Why hope so? Well,
• 45:39
  probably listen, go and didn't follow a word. But there's also so many other things that have been
• 45:46
  happening in the world right now. It does make me think we almost maybe need to look at putting
• 45:50
  some of this stuff in the invest in club. Like there's, so you've probably already spoken about
• 45:55
  it. But I think that it's also just a good reminder, if this sort of stuff really interests you,
• 45:59
  like what's going on in the world, what's happening with companies, blah, blah, blah, the
• 46:03
  invest in club always gets the information and kind of like, I want to say hot off the price,
• 46:08
  but I know I'm going to sound like a 90 year old, because there is so much interesting stuff that
• 46:12
  happens in the economy in the business money world. And we always go on tangents on this podcast.
• 46:17
  Don't say it like it's a bad thing. No, no, no, no, it's a good thing.
• 46:20
  Love hearing about your lime escapes. My toes still hurts. Actually, still hurts.
• 46:25
  Um, okay, well, thanks so much for being here for the curve weekly, everyone.
• 46:28
  No worries. Thanks. I wasn't talking to you. I was talking to the listeners.
• 46:33
  But you too, there would be no episode without you. If you liked what you heard,
• 46:38
  please follow the show so that you always get notified when our episodes drop.
• 46:42
  And we will see you next Monday. Bye.
• 46:45
  Thank you so much for listening to the curve weekly. Make sure you hit the subscribe button
• 46:49
  to stay up to date with all the many business stock market news. And if you like what you heard,
• 46:53
  we would love a review. Thank you. Yes, we would love a review. That if you did hate it, please,
• 46:58
  yeah, don't leave one if you hate it. No, but an all-seriesist could you please leave a review
• 47:03
  because it really helps other people find our cute little podcast. And we hope you have a good
• 47:07
  week and see you next Monday. Bye, bye. See you next Tuesday. Wow.
• 47:16
  See you next Tuesday. I mean Monday. Not actually though. New episodes out every Tuesday.
• 47:24
  Okay, quickly, the curve was created to empower and educate you about investing, but we are not
• 47:28
  financial advisors. Our platform exists for educational purposes only and it doesn't provide
• 47:33
  personalized investing advice for your individual needs and should not be relied upon to make
• 47:37
  an investment or financial decision. And always remember to do your own research before making
• 47:42
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• 47:46
  but the final call is always yours. And thanks for being here. You got this. Yeah, we know you got
• 47:51
  this.