Latest / The Curve / A Shocking Quarter for Tesla But It's Share Price Is… Up?

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A Shocking Quarter for Tesla But It's Share Price Is… Up? · The Curve

• 0:00
  Welcome to the Curve Weekly, the podcast that keeps you up to date with all of the money
• 0:04
  business in stock market too. Brought to you by the Curve's research team,
• 0:07
  it's the latest insights on what's happening in the stock market, companies,
• 0:11
  other money related news so that you can stay educated and ahead of the curve.
• 0:15
  You can thank us later for sounding smarter than those finance bros you need to know, buddy.
• 0:20
  This is a little heads up, in this episode we will be touching on fertility challenges.
• 0:25
  If this topic is close to home, we totally understand if you need to set this one out or proceed
• 0:29
  with care. Update on the egg freezing. So you know last week how I was talking about the egg
• 0:38
  freezing stuff. Plot twist, someone has been messaging me, being like, you won't believe it,
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  but I've been doing all this research on fertility and like the best fertility clinics in the
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  world and blah, blah, blah. Guess what? Athens in Greece apparently is like the world
• 0:57
  leading place to get your eggs frozen and fertility and it's... I was going to say the U.S.
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  1500 euro to 3000 euro for a round of egg freezing. Like you could have a six-week holiday in Europe
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  and beginning your eggs frozen, for less than it cost to do it over winter in New Zealand.
• 1:16
  Are you sure that your eggs, you know, that is one thing I'm not sure of, like I'm not sure what
• 1:23
  I'm like, is it legit? Yeah, and like, you know, you don't want to go for the cheapest boob job,
• 1:28
  you know, you want... You never ever go for the cheapest option. No, that's a good... Oh, that's
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  sick. Oh, no, you've thrown a spinner in there. Sorry to burst your bubble. So you reckon this is
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  like going to get like a hair transplant, like not going to Turkey, but going to like a cheaper
• 1:44
  place and not working out. Oh, I'd just be so... Like it could totally be fine. I have...
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  This is coming off no research whatsoever. It's just when something sounds too good to be true,
• 1:55
  usually is. And when you're injecting yourself and all of that, like a just re-define friend.
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  I mean, I haven't. I haven't. I have not read the phone print. I haven't done any further research.
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  It's so good to know. But I thought, this is... So if anyone is interested, let me know.
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  I've got screenshots from this wonderful woman who sent me all these inside scoops of these
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  fertility groups who were like saying, you know, like vote for the best Greek IVF clinic that you've
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  used. And there's like most votes on this place called ARC or something. Anyway, I'm like, okay,
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  this is a good inside. I can just picture you. Like I could just see that I'm going to lose you for
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  like a week and you've organised this retreat to Athens. The whole bunch of women.
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  Oh, genius. Absolutely, genius. Oh, my God. Who wants to come get the ex-frozen with me?
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  I can't hire a house. Oh, my God. That is absolutely genius. It's like, who wants to invest in your
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  ex? Come on or retreat with me to Athens. If anyone's keen, can you comment on this podcast,
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  review your listening? If there's a serious amount of people, maybe we'll get an even cheaper deal.
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  Because there's like 30 people that want to get the ex-frozen at the same time.
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  Okay, we've got 30 people here. Can we get half price? Yeah, two for one deal.
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  But that's great news. The power of community, you know?
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  Oh, I'm just like, okay, cool. I've got options here. I think it was more just like after we
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  spoke last time and you were like, it's a money-making exercise. I was like, imagine, like it's just,
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  it's, I'm just, I don't know if I'm, I don't know. I'm not sure. I'm not convinced on New Zealand.
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  I'm just not. I'm going to look into some other regions in the world.
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  Like I know Amsterdam's got a really good, I think it's free. But there's like certain conditions.
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  Don't quite me on it. The US has like one of the highest 60s rights from IDF or
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  EG freezing. From IVF. So there's, you know, like if you're EG freezing, it's also the other thing
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  you have to consider, which is kind of a second part of it. You just had a good idea. Sorry,
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  I'm sorry, I'm being real scared of brain. What if we did similar to like the anonymous
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  celery spreadsheet, but we did like a giant data gathering situation on the asset class that is
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  your ex. Your ex. Yeah. Yeah. And we want to make sure we don't put, we want to put all our
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  ex in the basket. But like, you know, because that's a good point, right? It's like, what is the best
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  like you had just like get get people's like how many times do you have to do it? How much should
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  it cost? How many ex did you get? Like, there could be some interesting data here.
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  About like the best place to do it, the biggest success, right? It's the cheapest, the most
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  expensive. Does that then quantify with like the results? Blah blah blah. I feel like we can be
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  onto something. There's a lot of people interested in this topic. Anyone thinks this is interesting
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  or wants to hear more? Comment, wherever you're listening to this podcast. No idea is an eggy idea.
• 4:56
  No idea is a is a bride idea is a cracking idea. Every idea is a cracking idea. Every idea is a
• 5:07
  cracking idea. Yeah. Shit yeah. How are you, Vic? I'm good. I've been in Ireland. Ireland. How was it?
• 5:15
  I was actually in I was on an island in Ireland. Well, that's confusing. I know. I was so
• 5:20
  confusing. Why do you say Ireland weird? I was like, well, because if I'm going to Ireland,
• 5:27
  if I'm going to Ireland, it's like, what's Ireland? You know, it's like, no, I'm going to the
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  Ireland. Ireland. No, no, you have to say Ireland. Ireland. Ireland. Ireland. My Irish friend says
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  that. I'm going to Ireland. So I just call their accents a beautiful, absolutely impeccable.
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  But I had a bit of a blunder. So we were hiring a rental car. No, you didn't have another
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  insurance one did you? No, no, no, no, no. Well, you should be careful because bad things
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  happen in threes. You've done it three times. No, no. No, this wasn't a bad. It was just more
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  I was like, okay, this book of rental car. That was my job for the trip. And I was looking at
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  rental cars and I was like, oh, there was I'm booking.com. So I got like a rental car part.
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  And I was like, awesome. And then I was like, hang on. I was like, shop back. If you book through
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  shop back, you can get a discount on any booking through booking.com. Oh, yeah, yeah. Yeah.
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  And I was this is not a paid ad. Like I literally was just like, oh, that's right. So I went through
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  shop back and I was like, yeah, say 4% landed. Went to pick up the car. And they're like, where's your
• 6:32
  drivers license? And I was like, what? Oh, no, I was like, I was like, I've lost my driver.
• 6:38
  I was like three weeks ago. And I've been meeting to get a new one. And I was like, I'm not
• 6:43
  going to pick up the car. Like just a kind of thing. You can't. He's like, yeah, your driver's license
• 6:51
  please. I was like, Oh, I'm a passport. He's like, no, no, I need your driver's license. I was like,
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  anyway, then I started getting quite shitty. And I was like, I was like, where does it say you need
• 7:06
  a driver's license? You're hiring a car. Thank you, idiot. You've had so many angry travel moments
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  lately. I think I was angry at myself. I was like, idiot, of course, you need a driver's license
• 7:15
  to hire a car, but I was trying to blame it on him. Anyway, I was like, okay, well, can you just
• 7:20
  amend the booking too? My partner's name and then he can come and get the car. And they're like,
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  no, sorry, we can't do that. You have to do a whole new booking. And I was like, it's like,
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  computer says no, I'm like, come on, mate. Just work with me here. Anyway, so even though I say 4%
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  I actually had to double pay to rent a car. So what was going to cost me about 220 pounds costs
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  about 440 pounds. What? They didn't give you a refund. No, because it was too late to cancel.
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  If I cancel, I got my no money back. Oh, you're kidding. No, that's just shit customer experience.
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  Yeah. But then we went to pay for the car, the second booking. And we need a credit card.
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  And so I put my credit card and kept declining. And I was like, oh, weird. And they're like,
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  how much is on there? I was like, 1,300 pounds. And he said, oh, yeah, that's not enough.
• 8:13
  I was like, sorry. Oh, what was that? Was it like for the case you crashed it?
• 8:18
  And I thought he was joking. I was like, he's like, no, that's not enough. You need 1,500 on
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  there at least. And I was like, oh, my God. I was like, what the hell mate? Anyway, he's like, well,
• 8:27
  because you opted for no insurance, we have to take a big deposit. And so I was like, okay,
• 8:33
  I'll take insurance, which was an extra like 150 pounds for insurance. So so you had an
• 8:39
  expensive whip for the weekend. Yeah. And that's like, I know insurance is good, but like 150 pounds,
• 8:46
  we didn't need to use it. That was 150 pounds extra for insurance. I just feel like rental
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  cars are a bit of a rot. I just honestly, it really hurts me. A rot is 59 year old Victoria Harris.
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  I was just like, I was about to point out, I'm so proud of you for opting for the cheap option,
• 9:04
  getting forpissed off a deal. That's really, you know, you've come leaps and bounds from our
• 9:08
  Greek holiday, where you almost made me spend my entire holiday budget on a convertible
• 9:14
  theater or whatever it was, Audi. For anyone that doesn't know the story, if I can
• 9:19
  I were in Greece together like three or four years ago, and I was earning peanuts. In fact,
• 9:25
  I was working for the curve full time. So like, you knew I was earning peanuts.
• 9:28
  I was wondering like fine and celery. And we went to hire a car. And I was like, oh,
• 9:36
  the bed up whole piece of shit in the corner. And it's like, oh, there's like,
• 9:40
  I was like, being like, oh, that's quite seriously being like, oh, and I was like,
• 9:46
  are you paying the difference? Like, absolutely not. Like, we're getting this tiny thing that
• 9:52
  we're probably going to die, which we nearly did in the end. But drive on the road.
• 9:56
  So small. We're literally sitting on top of each other.
• 10:01
  I was actually filming at the point in which we nearly had a head-on collision. It was a lot.
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  But also being in Catholic country, like Ireland and Northern Ireland, very, very religious.
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  And no, the Pope died. No, it's just Ireland. I can't help it.
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  Oh, yeah. Oh, my God. Yeah. What's it like? I was on a call with you and you were like,
• 10:26
  oh, God, sorry guys. The Pope just died. I was like, sorry, Sophie Horace.
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  Yeah, what point do you think? I know. I'm I'm I'm I'm fact McGee these days. Don't you worry.
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  You want to know what's going on? I'll let you know. Back to McGee. No, I I am not religious. And
• 10:43
  yeah, I was like, oh, Pope died. You know, that's big news, but not like. Yeah. And then I started
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  actually getting quite interested in it. And I was looking at like who the I watched
• 10:54
  Conclave the movie recently. I'm not sure if you heard of that. And it's all about the
• 10:57
  Pope dying and like how they vote for the next cardinal to become Pope and like, so I've got
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  quiet into it. And anyway, I was like, why they know I was looking at the people that are
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  predicted to be the next Pope. And there's there's there's men from there's priests, sorry,
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  from Congo, there's priests from Manila, there's priests from all around Europe. And I was like,
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  where are the women? And so I got digging. And I was like, why does the Pope have to be a man?
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  And then I started getting angry. And I was like, the role the role has always had to be
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  occupied by a man who's not married. Like, that's the role. He has to be a bishop, a cardinal
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  priest. And a woman cannot become Pope because the Catholic Church does not permit women to become
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  priests. And I was just like, I know this is not financial news, but it was just like it played
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  into the whole conversation around only men can hold spiritual power as well. So it's a subtle
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  way of like telling the world that, you know, God's leadership looks like a man and like, oh,
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  I'm just like, where is the female representation? Not only in, you know, politics or business,
• 12:17
  but also in religion. It's, I don't know, it was just like another realm where women are excluded
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  from power. I wonder if that will change. Like, I wonder if there's a way in which that would
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  change or is that just like, there's religions just so entrenched in tradition that that just
• 12:32
  wouldn't even happen. I mean, I would love to hope one day it does, but I kind of think you're right.
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  I think, you know, we've only come so far in politics, so far in business, I think religion is
• 12:44
  like so down the value chain in terms of women leading that. But yeah, anyway, but on to financial
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  news, we had a really good week this week. Did we? What happened? Yeah, we, as they might
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  mean, you know, we is in the collective stock market. Yeah, stock markets had a really good week,
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  this week. I say, really good. It's just, it's like the first week of
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  green we've had in a while. Do you think we could say that the stock market has a personality
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  disorder? You know, like, it's very up and down, isn't it? You know, would we? It's not the most
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  consistent thing in the world. Just like meditation, you know, just take a breath each morning before
• 13:26
  you open and just regulate your nervous system, do some like cold showers, maybe do some journaling
• 13:34
  and just like get a bit more on the straight and narrow. What? Oh my god, what? I just had it
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  absolutely mind blowing idea. What? You know how the stock market is essentially run by men
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  right now. The majority of investors are still men in this world. You know, they're managing
• 13:52
  the money, whether it's, you know, and none of the meditator go to therapy. Well, imagine,
• 13:58
  we're on to something here. Imagine if the majority of investors were women, we take our time,
• 14:05
  we think about ideas, we think about our investments, we would be green and sailing. We can do it.
• 14:12
  Go the matrix. We can make the stock market less volatile. We can make the stock market great again.
• 14:21
  We should just start some a new campaign. We can start market great again. Oh my god, it makes
• 14:27
  so much sense. How many men have you heard that like, yes, so I've been to therapy and they've
• 14:32
  been to one fucking therapy session. Do you know why? I actually think you're on to something here.
• 14:36
  I think the emotional irregular of the stock market is a direct reflection of the male species.
• 14:42
  So there's also a lot of algorithms that trade the stock market, which are computers, which
• 14:46
  won't even meditate, but that's an aside. But the computers were created by men and the algorithms
• 14:53
  that the AI was driven by was created. You know, it's all links back and that's why diversity,
• 15:00
  equity, inclusion, everywhere. I reckon we've had some gnarly curveweaklies. I reckon if you've
• 15:09
  just tuned into the curveweakly this week or last week, just would like to let you know, we're not
• 15:14
  normally super like manhady, but I feel like we had been a little bit the last couple of weeks.
• 15:20
  But it has been a particularly shit time and I feel like it's fine to vent. I had my moment last
• 15:26
  week talking about, you know, I mean, I was actually I was listening to that episode back and I was
• 15:30
  like, I would not listen to this. This is so depressing. We'll move on. Let's move on to
• 15:35
  what I'm used. This is so off topic. The reason the stock market has done so well this week is
• 15:42
  that Trump has come out saying that Chinese tariffs will come down substantially from the current
• 15:49
  145 percent. This has kind of sparked a whole conversation of like the standoff between China and
• 15:56
  the US just has to de-escalate. It has to get softer. And so I think there's a lot of talk around
• 16:04
  it's kind of reached its peak and now it's only going to be kind of good news from here is what
• 16:10
  the investing world has really talked about and why the stock market has gone out.
• 16:15
  Does this mean if I wanted to take my money out to buy a house now would not be a dire time to do
• 16:21
  that? Well, it's still pretty far down a lot and then it's just gone at the bottom.
• 16:27
  Yeah, it's gone back to where we were because there is still huge concerns about global growth
• 16:34
  and like all of that and how this is going to navigate this but. Right, so we're not really in the
• 16:39
  green. We're slightly in the green compared to last week. Yes, compared to last week. Yeah,
• 16:44
  we are up compared to last week which means more optimistic than pessimistic essentially.
• 16:51
  So like from before the you know last little while of like total all over the showness
• 16:58
  when we were at the high or whatever, how far away from that are we now?
• 17:02
  The high before the stock market started to fall was kind of late like like late February and then
• 17:09
  it's still down about 13% since then. Oh wow. Yeah, it felt about tweening and it's gone back.
• 17:16
  It's gone up to about seven but it's still it's still you know pretty far away from where we were.
• 17:21
  And that's because we have realized we've got a really unpredictable leader of one of the
• 17:26
  largest economies in the world and I think can probably you need some seriously positive
• 17:32
  information or him to say goodbye. You reckon it will be until the Trump's out of power before
• 17:37
  we get back to those highs? No, not back to those highs. I think it's more yeah, it's hard to know
• 17:42
  but I think until we get kind of like consistent positive news. Do you know what I mean? There's always
• 17:47
  going to be this like lingering fear that he could come out left field and say you know we're going
• 17:53
  to invade New Zealand or something. Oh my god. I know. Imagine.
• 17:58
  The Curve Investing Club is the world's first digital investing club for women to build their
• 18:05
  wealth. It's a place where industry experts like myself and beginners can really really join
• 18:10
  forces to share knowledge, swap ideas and make money through investing. So if you're listening
• 18:15
  to this podcast you probably are aware that saving alone unfortunately can't make your millionaire
• 18:21
  but investing definitely could. So we wholeheartedly believe in the power of community and that the
• 18:27
  best investment ideas come when we collaborate and learn with each other. So bring your friends,
• 18:32
  your mum, even strangers on the street if you want. There really is strength in numbers and we're
• 18:38
  so excited to create a community that's just for you. Another company that has seen you know a
• 18:47
  slight reversal in its falling share price is Tesla. So we all know that Elon and Trump are
• 18:58
  buddies. Elon is now you know in politics becoming Trump's right hand man and he's very involved
• 19:07
  in what's going on in government and investors are getting effed off because they're like hello
• 19:13
  there's this company as well as we CEO of that has fallen you know 50% since December like can
• 19:20
  you please come back and give it some of your attention because you're spread way too thin.
• 19:25
  I'd had a financial report last week and it was terrible. Absolutely terrible but the share price
• 19:32
  went up and it was all because Elon was like okay sorry I realize it's quite dire with Tesla
• 19:39
  I'm going to come back and my focus is going to be on Tesla. So investors are like thank goodness
• 19:44
  but the result was still very very bad. You know I can't remember what conversation we had this
• 19:51
  and I hope it's a podcast that's come out already but we've said I feel like I backed the wrong
• 19:57
  horse with regard to Elon and Tesla and just like I know you put you as long as you're investing
• 20:05
  lots but like head little nibbles and like put little bits in. I feel like I have jumped
• 20:12
  and I'm on BYD I feel like I'm seeing the car everywhere I really think it's kind of like
• 20:19
  Gracie Abrams when we went to Taylor Swift where we're like who's this random girl I don't know
• 20:24
  she's she's quite good next now I'm obsessed you know it's oh my god I just love it oh my god
• 20:31
  I'm like absolutely the most vanilla girl on the world I'm obsessed and so I think it's similar
• 20:37
  I've done the you know the the Gracie Abrams effect has happened with BYD and I am a fan do you think
• 20:44
  Taylor Swift's bit like Tesla maybe kind of but yes I think you're you're right it's like
• 20:50
  which horse do you back but one thing is we've seen this before with Tesla we've seen this
• 20:55
  before where Tesla's share price was suffering Elon comes out he's like okay and my
• 20:59
  attention is going to be back on Tesla and it did fantastically well so investors are kind of
• 21:04
  thinking this is going to happen again or is their brand damage this yeah the profits fell 70%
• 21:10
  and it was its least profitable quarter since 2020 so in the last five years when was that
• 21:17
  is this the results that just came out yes the results just came out yep the worst in five years
• 21:23
  wow and yes there's nothing millions of cars that they've produced and there's like you know how
• 21:29
  many they produce this quarter but when you when you look at Tesla it's not really about the cars
• 21:33
  like it's about AI now the conversation is shifted he's promised like millions and millions of
• 21:40
  autonomous Tesla vehicles heading the road next year and remember when we're investing in companies
• 21:46
  we're always looking forward like what does the future look for them oh so here we are all thinking
• 21:50
  about like cars and batteries and this and that and he's like I don't even care about
• 21:55
  anymore I'm over here he's like I'm thinking I'm thinking about putting cars on the moon you know
• 21:59
  like I'm 10 steps ahead of you guys yeah anyway it's what investors wanted to hear it's what
• 22:04
  investors were concerned about so yeah do you trust him do you not do you think you can turn
• 22:09
  around Tesla's share price do you not that's the questions should we kind of ask you yourself
• 22:13
  I really want to say no but I think I say yes I know I feel like he's just a wizard
• 22:18
  I'd like him to get out of parliament to be fair yeah and he actually assured investors on the
• 22:22
  call that they do after they post the financial results that you know these tariffs that Trump's
• 22:28
  implementing enemy tough but they're in one of the best positions out of you know all the auto
• 22:34
  manufacturers to navigate they're going to be like less less affected did you used to be on
• 22:39
  those calls like would you've been on a Tesla call yeah yeah no way yeah do you remember back in
• 22:46
  the day where I was like you're like yeah I love my job because I get to talk to listen to all the
• 22:50
  CEOs and I was like oh my god I want to fall asleep now I'm like I want to listen to that call
• 22:56
  how do I get on the call yeah they they have to put it out publicly so when they put their results
• 23:00
  out there's like we are going to do a call at I don't know 10 am US time so I could have gone yeah
• 23:07
  you can listen yeah there's still transcripts and recordings and like yeah I just want to hear
• 23:12
  what he sounds like I've never even listened to an interview with him yeah you can tell his mind
• 23:17
  is just in a different planet yeah but we actually have a deep dive on Tesla and BYD now in the club
• 23:25
  so we released a BYD deep dive last week so now you can go and compare both and see what your
• 23:33
  friends investing in which is super exciting one other piece of news that came out which we kind
• 23:38
  of already hold on Fanny on there doesn't know podcast show notes for the club sorry sorry
• 23:43
  podcast show it's another piece of news that came out that we kind of already knew is that
• 23:48
  the estimate for global growth the percentage growth has come down again I thought it was already
• 23:55
  really low yep so it was expected to be 3.3 percent growth and it's now been cut because of all
• 24:02
  these tariffs and uncertainty and everything been cut to 2.8 which like this early on is kind
• 24:09
  of concerning you know we haven't even felt the effects of these tariffs yet and the IMF which is
• 24:16
  the International Monetary Fund who does these estimates yeah they've already cut it from 3.3 to
• 24:21
  2.8 which might seem like a little move but that is huge on when you're talking about like a world
• 24:27
  scale and the main impact is China not growing as fast that's having that impact what does that
• 24:33
  mean though like if we were going to extrapolate out to the people listening to this podcast who
• 24:40
  are investing in different types of assets like what can we take from the idea of global growth
• 24:46
  slowing down yeah I think there's kind of two things firstly is that stock markets around the world
• 24:53
  are a reflection of the growth in the economies that they represent so you know the NZX 50 the
• 25:00
  New Zealand stock market is a reflection of New Zealand companies and their profits same with the US
• 25:06
  same with Australia UK so if all of those regions and all of those companies and countries aren't
• 25:12
  growing as fast then all of those stock markets don't do very well exactly yeah they won't be doing
• 25:19
  as well so this is why we saw what happened over the last few weeks happen because it was
• 25:25
  anticipating this cut in global growth because it's you're always you're always forward looking so
• 25:31
  that's why people are like oh gosh what does this is going to mean for this country but this
• 25:36
  economy for this you know globally and that's why pretty much every stock market in the world
• 25:41
  fell at the beginning of April but we have Bitcoin oh damn it this happens every time
• 25:50
  I've been thinking for weeks I want to put money in Bitcoin is it done well what's happened
• 25:54
  it's done well yeah it's up about 23% it's now it's now over 93 000 dollars a
• 26:01
  oh I'm annoyed at myself why why what's happened why is it going on so mainly due to the fact that
• 26:08
  yet we've had a good we've had a good week this last week it's a little part of it but what we're
• 26:13
  seeing play out with Bitcoin is really interesting because it is kind of acting in a bit the same way
• 26:20
  as gold right now I really miss our Bitcoin chats I love talking about Bitcoin I find it so
• 26:27
  interesting and it's been so off the radar for ages I'm kind of excited to see it making
• 26:32
  come back so do you think the reason that it's being somewhat compared to or reacting the same
• 26:37
  way as gold is because it's people are thinking of it as more of a tangible thing because it's
• 26:44
  this finite amount well they're thinking of it as I could digital gold so people run to gold when
• 26:52
  shit's hitting the fan and then so much uncertainty and craziness and they're like whoa whoa whoa whoa
• 26:56
  I don't know what's going to happen with stock markets and prices and all of that I just want to
• 27:02
  hold something safe and secure and what we're seeing is like the fact that Bitcoin has done so well
• 27:08
  when a lot of other assets and by assets I mean you know stocks and shares is haven't done well
• 27:14
  is that there's kind of this what would you call it like a decoupling because what Bitcoin used to
• 27:19
  do was kind of be acting the same way as like tech stocks for example so when tech stocks would do
• 27:25
  well Bitcoin would do even more well when tech stocks didn't do well Bitcoin would do even less well
• 27:31
  whereas now we're kind of seeing it break away and worse and better are the words you're looking for
• 27:36
  that by the way what would I say less well and more well sorry you are on a roll it's a conscious
• 27:49
  uncomplained so we have a we have essentially a digital gold on our hands which is like it's moving
• 27:57
  in different ways to the stock market because it feels like a safe alternative when the stock market
• 28:01
  is turning to shut just like gold sort of used to be or it still is well said well said yeah exactly
• 28:09
  what I was trying to say when I was saying this well and more well yes yeah that's exactly what's
• 28:14
  paying out and so if that's the case then this is exactly kind of why Bitcoin was was set up
• 28:20
  to be that kind of store of value and be that kind of consistent asset whereas it kind of just got
• 28:25
  a bit caught up in everything that was going on over the last kind of 10 years and this is
• 28:31
  why people were almost dismissed it because they were like well hang on you're supposed to be like a
• 28:35
  very consistent stable long term kind of asset to invest in and you're moving around like
• 28:41
  God knows what you know and so it's yeah do you think that there's also like because Bitcoin the
• 28:46
  whole point of crypto currencies is like power of the people do you think that there's a correlation
• 28:51
  I know a lot of people who invest in crypto nah that's actually I was about to say a lot of people
• 28:57
  who invest in crypto would be Trump supporters but that's not necessarily true because just because
• 29:01
  he's got a coin but maybe there's something about when the world feels unstable and there's all
• 29:08
  this uncertainty politically crypto is kind of like it I don't know maybe it is that sort of like
• 29:18
  people driven feeling of like it's not being controlled by the powers that be or whatever
• 29:25
  yeah it's like Trump can mess with the banks Trump can mess with the stock market Trump can
• 29:30
  mess with this and that and whatever what he can't mess with is is Bitcoin nobody can really
• 29:36
  because it is owned by everyone it is controlled by everyone there's no centralized
• 29:44
  regulatory body or anything like that yes around the edges in terms of you know the
• 29:51
  the creation of ETFs for example Bitcoin ETFs and all of that yes around the edges but the actual
• 29:56
  core of cryptocurrency is a decentralized system that essentially nobody has control over because
• 30:05
  everybody has control over it if that makes sense yeah that's really cool yeah but I want to go back
• 30:10
  to what you said before you're like oh I haven't heard anything about Bitcoin and that's because
• 30:14
  it's like we only it's like a human psychology you only talk about things that are doing well
• 30:19
  you know what I mean that's like nobody was talking about Bitcoin because it wasn't doing well
• 30:23
  well we need to start doing that because then we can start investing when things are doing
• 30:27
  shit true yeah because what do we do we buy at the depth we buy the depth be greedy when everyone
• 30:34
  is fearful and actually well we're on the topic of this power to the people kind of decentralization I
• 30:41
  think there is one bank in particular revolute do you use revolute I love revolute yeah yeah it's so
• 30:50
  good well we use it because it's huge in the UK and in Europe yeah yeah yeah it pretty much everyone
• 30:55
  has a revolute and it's it's kind of the same thing that's going on like we've had these big archaic
• 31:01
  banks with like very little innovation and you know like the apps are shit like all of that kind
• 31:07
  of stuff it costs so much to transfer money internationally like they've just kind of been resting
• 31:12
  on their laurels for a long long time now we've got all these new banks these neo banks popping up
• 31:19
  where it's like hey we've built a bank from scratch it's tech first as well yeah it's like and
• 31:27
  revolutes absolutely killing it like their revenue was up 70% last year their customers
• 31:34
  grew by 40% they've now got over 50 million customers they've just launched in New Zealand
• 31:40
  yeah yeah yeah yeah yeah yeah yeah so they're bigger than HSBC which is Hong Kong Singapore banking
• 31:46
  corp which is wow that's huge banks been around forever and they're targeting 100 million customers
• 31:53
  and they're launching new products like it's it's yeah I think and do you think is this tied
• 31:58
  is this tied in a way to what we're seeing with Bitcoin like do you think that there's yeah I think
• 32:04
  it's I think it's more it's also a function of I think the payments landscape is changing so quickly
• 32:10
  and so rapidly like things like that cryptocurrencies for example but also just like the way we bank
• 32:16
  and I think for a lot of established traditional banks you know there hasn't been this advancement
• 32:22
  in a short space of time you know either so they have they could just rest on the fact that
• 32:27
  oh I joined the bank when I was five and I stayed there but now with technology people can
• 32:32
  compare mortgage rates people can compare to them deposit rates people can you know get a really
• 32:38
  good app experience be able to transfer money for cheap at this bank like there people are just
• 32:43
  becoming a lot more do you think there's ever a world in which traditional banks won't exist I do
• 32:50
  wow yeah I genuinely do like we have seen and I know it's a tiny thing but like
• 32:55
  going into the bank and being and seeing a bank teller and getting cash out like even ATMs like
• 32:59
  ATMs have kind of you know a disappearing pretty fast as well and I think with banks like this popping
• 33:05
  up and being kind of innovation first they're just going to keep eating away at these traditional
• 33:11
  banks and getting more market share and these traditional banks have huge costs like having a
• 33:18
  high street bank location paying staff at all of that if you're not tech first we're just not
• 33:26
  going to succeed yeah so in the weekend a friend was talking about oh this is so cute it wasn't
• 33:31
  a friend I was at dinner with my grandma and her friends and and she was so sweet this one
• 33:37
  of my grandma's friends anyway we were talking about how they never used to go out for restaurants
• 33:43
  they never there wasn't even restaurants they didn't even really exist like they weren't
• 33:47
  restaurants and I was like hold on a second this is maybe like 40-50 years ago it's not that long ago
• 33:54
  but the idea of there not being restaurants that exist was so foreign to me because that's my
• 34:01
  life that's what I've always experienced I just sorry that makes me sound so privileged I don't
• 34:04
  mean I always go to restaurants I mean I can't imagine society without that because that's all I
• 34:10
  remember so whilst the idea of banks not being a thing anymore sounds bizarre it's you like at the
• 34:20
  tiny blip that feels like our reality and what it's not always been like that and even just the
• 34:26
  concept I was thinking about this with AI as well like I it's not often that I have much of my day
• 34:33
  without a screen you know like honestly it's so outrageous and I don't mean this and I like look up
• 34:39
  stop using Instagram I just mean if we rewinded life to rewinded well we're struggling today
• 34:46
  rewind 30 years ago the idea of even saying that to somebody would sound like completely
• 34:54
  out of this world ridiculous because no one even had a screen so whilst that maybe sounds
• 35:01
  at first when you said yeah I think I could imagine a world without normal banks I was like no
• 35:06
  but actually it could be a thing it could just all be digital yeah we could be using crypto for
• 35:13
  all of our trading maybe there won't even be centralized banks at all and we will just have a
• 35:18
  global currency yeah and it's all crypto or like Bitcoin and we'll come back to this podcast
• 35:25
  in 10 years and we'll be like like those geniuses those girls that protected the future
• 35:31
  and I've got two more quick things just because it's Easter and I've been eating a lot of chocolate
• 35:38
  have you yes I love Easter it's just fun to feel like you cannot be an adult for a day and have
• 35:44
  chocolate for breakfast I'd literally have chocolate for breakfast same and I'm not ashamed
• 35:50
  about it it's yeah I'm 33 and I'll eat chocolate is the first thing I have today but speaking of
• 35:56
  chocolate the price of chocolate is absolutely skyrocketed and this is all due to climate change
• 36:05
  so in West Africa where majority of cocoa is produced the price of cocoa has gone up 300
• 36:14
  percent since two years ago so obviously cocoa is in chocolate and yeah so that just means
• 36:21
  a lot of our chocolate treats are getting more and more expensive I haven't noticed that
• 36:26
  but I just I thought maybe it was more inflation than like a commodity itself getting more expensive
• 36:31
  probably a combination yeah combination of both and then just sitting on some positive news
• 36:37
  petrol prices because of this trade war are falling because the is obviously oil production and
• 36:47
  oils the main ingredient and petrol oil production for a certain level of global growth now that's
• 36:53
  come down there's less demand but the supply is still really really massive so that means lower prices
• 37:00
  so winning and one aspect is this good for I mean it's good for our pockets but is this also good for
• 37:08
  like the clean energy space as a no okay it's more like the reason that petrol prices will be
• 37:15
  coming down is because the world is growing at a slow pace which is not the best reason but
• 37:22
  it's like we saw during covid when there was no cars on the road no flights you know big big consumers
• 37:28
  of petrol didn't need it there was a real fall in petrol prices because there was a lot of supply
• 37:35
  still in the world but not people demanding it so but sorry but where's the demand where's the
• 37:39
  demand dropped yes so the demand because global growth is slowing which means there's less activity
• 37:45
  less businesses doing business they're not growing as fast they're not needing as much petrol to
• 37:51
  you know maybe move using trucks and airlines around the world because it's now got more expensive
• 37:57
  to transport stuff around the world that has impacted the demand for petrol but can I just say like
• 38:03
  you know if we were to use covid as an example in flights you know and they didn't happen for ages
• 38:08
  so demand was really low and then when we opened up again and there were flights they were
• 38:12
  outrageously expensive even though there weren't that many people getting on them yeah so why
• 38:18
  why does it work in the opposite way for that that was more not petrol related that was more the
• 38:25
  bringing on the capacity in airlines so that was more around the fact that that have fewer flights
• 38:32
  because it had to park their planes for so long oh so the demand's actually higher because there's
• 38:36
  fewer of them and therefore they can price it higher yeah yeah okay so there's more people that
• 38:41
  like everyone's like yeah we can fly again oh damn there's only one aircraft or one flight
• 38:45
  right to Bali and there's two times people that want to go now so yeah um that's a bit different
• 38:51
  but yeah positive but anyone driving a petrol car yeah okay positive if you have a Tesla not
• 38:59
  too positive I'm driving a stunning Lexus at the moment nice we're going to be doing a partnership
• 39:06
  with Lexus and I get to drive um this really gorgeous honestly it's like
• 39:14
  it's kind of ruined me no I know I know you're in the UK sorry you're not allowed to drive it
• 39:19
  I have Lexus in the UK yeah but as if you're going to be driving in the UK actually you totally
• 39:25
  would the next thing you know it's like every ad on the podcast is Lexus because Victor's wants to
• 39:30
  drive a car no I think it's because it's because it's a hybrid so it's just like such a dream to drive
• 39:37
  honestly I was like this is just ruined me because now I can't go back you know I really was like
• 39:43
  this the only negative here is that I'm and honestly I also have neither no I'm being serious I've
• 39:50
  never noticed I you know when you have the the like Uber pull up and that one of the Toyota
• 39:58
  press and they're always um it was a spot on sound by the way that could not have been better
• 40:09
  if you just out and heard that sound you would be you would know exactly what she was talking about
• 40:16
  um but I never got the hybrid thing because I was always like oh surely you just go full
• 40:21
  electric it's so good so if you drive a hybrid sorry if this is common knowledge and you
• 40:26
  already know this but I didn't it charges itself as you drive and then just uses less petrol so it's
• 40:32
  just a cheap option yeah and feels like you're gliding I'm like get it I get all the Uber's
• 40:41
  it's not your Uber it's me in my Lexus it's me in my Lexus she just jumped on Uber just making some extra
• 40:49
  cute oh my god it's a great idea thank you so much for listening to the Curve Weekly
• 40:56
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• 41:00
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• 41:05
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• 41:15
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• 41:19
  sweet yeah see you next Tuesday well
• 41:24
  see you next Tuesday I mean Monday no actually though new episodes out every Tuesday
• 41:33
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• 41:37
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• 41:42
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• 41:55
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