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TCW72: Our new habit challenge and a $56 billion dollar payout... · The Curve

• 0:00
  Hi and welcome to the Curve Weekly. The podcast that keeps you up to date with all the money,
• 0:06
  business and stock market tea. Everyone should experience for us at least once in their lives
• 0:10
  and Annie shouldn't miss out just because she can't afford it. Help me, I'm poor.
• 0:16
  So I've just put on a jacket like a trench coat because she wanted to. Do you like it?
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  This is what I've been to try and... Yeah, it's great. It just reminded me of a meme that I saw
• 0:24
  in the weekend and it was like when you try to look skinned and avian chic by putting on a
• 0:29
  trench coat but you actually look like and speak to gadget and these two girls like marching down
• 0:33
  the street. It's so funny. I don't have that many trench coats but I love it. I feel very
• 0:38
  chic. You look chic, yeah. It does feel it's like a little bit like I'm going to a science lab
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  kind of energy. You just need to put like a pen in the pocket and like maybe a stethoscope as well
• 0:49
  like around your neck and then you'll be, yeah. I think because the back is like quite cute and
• 0:53
  tailored it's sort of fine. Oh, what's that noise? Can you hear that? It's like someone's like
• 0:59
  it's like a plane taking off. Oh my god, it's like someone drilling. This is just so standard. So
• 1:03
  by the way, this is the episode that we're not editing. Yeah, so if you do, here's some funny noises.
• 1:07
  We apology. We apologies. Oh, there we go. See that's the kind of thing we would edit out
• 1:11
  normally in these cars. Wow, we apologise but we can't edit it out. I've also got a plant
• 1:17
  tickling my ears and it's kind of filled quite nice. I feel like I'm in Mexico. It's quite cute.
• 1:22
  I actually woke up this morning and it's sunny here in London and I was biking to the studio and I was
• 1:26
  like, oh, so we had a blast. We're going to the studio in a double book. So yeah, anyway,
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  so that's why we're doing it here. But yeah, and I was like, I just love sunny days. They put me
• 1:38
  in such a good mood. I said, I need to move to Mexico. Yeah, sorry. I honestly would be,
• 1:43
  let's move to Mexico. It's my favourite country in the world. I would 100% live there.
• 1:48
  We've just moved everything to London. Can we at least just not get ants in your pants just yet?
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  Yeah, thanks. Now, we have a very exciting idea. Well, where is it? This is something that's happened
• 1:58
  naturally. I've been really struggling with habit building lately. Like, I've been in a really bad,
• 2:04
  like, had a word to me on Friday. I was like, are you okay? And I was like, do you know what? I'm
• 2:07
  actually kind of not like, I've not been looking after myself. I've not been, I've just been,
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  you're like, I can't get out of bed to exercise. I feel like that was me last week. I was like,
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  eating shit food, working late hours, not exercising, feeling like shit. And it's just at the cycle.
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  And then you've just got to do that one step of like, studying in veggies. Then you feel better,
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  then you have more energy, then you can exercise. Well, I think this is the thing. It's like,
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  rather than trying to do everything at once and all of a sudden being back into, you know, just
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  feeling on top of the world. I'm just starting small. You've said this to me forever, like, get into
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  a better routine of sleep, like sleep hygiene, like a sleep at the same time, up at the same time.
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  So I'm like, okay, this is the week. I'm going to just start with that. It's also the routine
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  before bed. How you teach babies to go to sleep is that you might give them a bath, give them their
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  toy, put them in their pajamas, like all those steps. So their brain knows, get sleepy effectively.
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  So when they go to sleep and lie down in their car, their brain's already halfway there. And so
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  it's like getting into those routines and those habits. I mean, I'm not perfect. I mean, some people
• 3:12
  think I am, but I would love to meet someone that thinks you're perfect. I literally, I'm trying
• 3:20
  to think who in your life are doing my parents. No, they would. I spoke to mum this morning. She's
• 3:27
  like, oh, hello. Good to hear from you. I got an email from my mum going, are you okay?
• 3:32
  Because she doesn't like me so many times on WhatsApp that I've just not replied. So she started
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  emailing the work account. I was like, God. But anyway, sorry, the point is, is that I'm starting
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  to have it stack. So I'm starting with my sleep. I'm getting to bed at the same time and up at
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  the same time. I'm doing a five minute meditation as soon as I wake up. And then I'm taking myself
• 3:51
  for a little trot because I haven't had the energy to like do anything. Like a little horse?
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  Yeah, but like a half now walk is doable. You know, it's like, it doesn't seem like such a big deal.
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  So what I've decided is I'm going to put five pounds every day that I do that, that I
• 4:08
  stick to my habits into an account. And I'm going to, it's going to hopefully because like,
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  actually my housemates listen to the podcast and they listened a while ago. I think you must have
• 4:17
  said how you were putting money into your facial account so that if you do your exercise every morning,
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  you get like five, is it five pounds? You're doing a ten. Ten. God, that's good. I might drop it
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  down. Yeah. But you're basically doing the same thing. You've, you've started this like, okay,
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  so ten pounds every time you do Pilates or whatever. I'm doing it just for the basics for me at the
• 4:37
  moment. And I might build it up. So maybe I have five habits and if I do all five of them,
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  then I get my five pounds. I don't think start with five. No, no, I'm just starting with the
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  sleep. Yeah, got you. I'm morning meditation in a walk. Like which I know maybe sounds like three,
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  but actually it's like, that's the bare minimum. Like I should really be doing that anyway.
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  And I feel like that's achievable. I did want to start doing like any healthy environment. And I
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  was like, no, we're just going to keep it simple. But it's day one and I'm so proud of myself.
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  And I'm going to transfer my five pounds. Nice. Am I going to go viral? Have I started a trend?
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  So I would just like to claim that I think this is a joint trend. Yeah. Because my, remember I was
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  like, I want to do a dollar every time I meditate into a piggy bank and it was just two old school.
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  This is, you've now taken a step further. And now what I'd love to say is like if anyone else
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  is feeling, I don't know, it's not like in a rut, but there's something that you would feel.
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  And it's just that little bit of motivation that extra motivation is like when you start seeing that
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  account build up and it's actually calling it what it's for. Like mine is called my many
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  petty fund. You know, it's like, so then I can see it growing and I'm like, woo, it's great.
• 5:42
  Well, I think I might do mine as I don't know what it's going to be because I could, I kind of
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  like the idea of I would get name it something like a feel good fund or and then you can decide
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  maybe the end of the month or the end of the quarter or whatever it is where you put that money.
• 5:58
  Okay. Yeah. I feel good fun. I love that. Yeah. Because it's like a bit generic but specific.
• 6:03
  But I guess anyway, the point is we thought how fun to do like a curve challenge. So if there's
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  something in your life that you haven't been able to make time for and honestly that's three
• 6:13
  times a week. It doesn't have to be every day, but something that you contract your progress,
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  feel proud of yourself. Three days a week, I want to eat veggies or I want to not get takeaways or
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  whatever it is. Yeah. But it's but it's rewarding good behaviour rather than penalising bad behaviour
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  whatever it is. It's supposed to be turning people into like positive thinking, yeah, all of that.
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  I also think it's a bit of a dopamine hit as well to be able to do the transfer, like to transfer
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  and then also as you say, see it grow. And I think maybe it's so anyway, the thought was if you
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  want to do a feel good fund and you want to do like a 30 day challenge with us, that's already
• 6:52
  well on her way with her £10 going into a many PD. Would you change it to your feel good fund?
• 6:57
  Yeah. Just to be part of the team activity. Sure. So if anyone wants to do it, I'd love to hear,
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  who's the winner? Oh, I don't think it's, I don't think I'm like, who's the winner?
• 7:07
  No, I think what we do is it's like a collaborative thing. So if you listen to the podcast and you
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  feel like this might be kind of a helpful challenge to be a part of, send us a message to be like,
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  this is the thing that I'm committing to do. It could be every day twice a week whatever
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  and how much you're going to be transferring into that feel good fund. And we can just keep in touch.
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  I think it's fun to feel that you're not reporting to someone but you are held accountable.
• 7:32
  And maybe there is a prize. True. Maybe we should do a prize. Like we randomly pick someone that's
• 7:37
  like done it for 30 days or whatever. And we'll surprise you with what the surprise. Yeah,
• 7:42
  okay. Prize will be. Yes. So by the time this podcast comes out, we will have figured out the
• 7:46
  mechanics. Yeah. As about to say once it's edited, which is obviously not happening. But we'll
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  put a little like description in the show night. So it's like if you want to join, you know,
• 7:54
  the curve challenge. We'll tell you how to do it. But fun. I feel like I feel really, and also
• 8:00
  because I'm being public about it. I can't not. It's like the loud budgeting stuff. Yeah. Yeah.
• 8:05
  Yeah. I'm really excited. Cool. This is a fun little like we've never done this before.
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  Next week's episode. Reporting there. Yeah. Progress. No, I'm feeling good about this. Nice,
• 8:15
  love that. And I honestly, this sounds kind of pathetic. But like my boyfriend teased me this
• 8:20
  morning, because he knew I was like, this is my first day. And he was like, how'd you go
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  soft? And I like just called him. I was like, I do it. Like it's such a small thing. But honestly,
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  I was like, so proud of my friend. When I saw him and he's like, guess what back?
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  Guess what's soft, son? I was like, I don't really want to know about your six life. Oh my god,
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  no. With it. No, nothing's needed quite. Quite the opposite. I got to get out of bed. I got
• 8:41
  gone. I got to meditate. He's like, Steve. Oh gosh. Normally we can edit the shit out of our bad
• 8:48
  chat, but we can't today. Okay. We need to hop to it. Yeah. Well, there has been some
• 8:56
  news around Elon Musk. I honestly feel like he's always in the news. So it's actually quite good.
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  He's quite great from a content point of view, definitely. But there has been quite a big development
• 9:05
  around his pay package. So I'd love to know what it gets. Yeah. So let's rewind back to 2018,
• 9:12
  just for us, he can set the scene. Teaser's share price was about $20. $20 a share. And so
• 9:18
  2018, it's only five years ago, really. Sorry, six, but five, four years. Yeah. So
• 9:27
  the share price was $20 a share for Teaser. It's now nearly $200 a share. Like it is
• 9:35
  done so incredibly well over that period. It's really, that's like, you know when Teaser just
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  like roofed it. And it's like, yes, it's had its ups and downs over the last 12 months, but
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  over the five years, as we know, just like took off. So anyway, back in 2018,
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  Elon Musk is CEO of Teaser. Got, she hold her approval for some options.
• 9:56
  Now, so can I hit a shit? Because we've got new staff coming on. And as far as listening
• 10:01
  to this podcast for a while would know, we have started raising capital, we're just about
• 10:05
  closed the round, which means that like, we've got all these big, exciting plans in place.
• 10:09
  And for a long time, it's been Vick and I in the curve. And it's been, I mean, we've
• 10:14
  been wearing many hats, right? It's been, we've worked life balance has been slightly off. I
• 10:19
  mean, hence the 30-day fell on should try and sort of get back into the swing of just being
• 10:22
  a normal human. But we've got people starting properly next month, which is so exciting. So
• 10:28
  exciting, but also, it's kind of scary, yeah. We just have to grab a bit, you know, you have to
• 10:33
  have processes in place. You have to have manuals and like, how to do things. You're
• 10:38
  so in your element. No, but I don't have that stuff. You do. I do it because
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  who else is going to do it? Yeah, that's amazing. Now you have people that are going to follow you.
• 10:48
  I mean, I haven't been. Follow me? Like I'm the Pied Piper.
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  So anyway, Elon Musk, he got given options back in 2018. And with options, it's like,
• 11:01
  they're almost part of, part of a bonus, really. If you hit her and, oh my god, sorry guys,
• 11:06
  if you hit certain milestones, you get your options, you get options effectively. So,
• 11:13
  anyway, there was a whole bunch of milestones that were hit and he hit all of them. And
• 11:17
  can we just clarify options, basically? Yeah, so I've got the next show. I'll go. Yeah, I think
• 11:21
  just explain that because the reason we brought up the employee thing is we've been talking about
• 11:25
  that because we have people starting and we want them to have shares in the curve. But it's not as
• 11:30
  simple as like we initially thought. No, so a stock option is effectively the right to buy company
• 11:35
  shares at a preset price. So, and hopefully that preset price is lower than what the current
• 11:43
  share prices. So in Tesla's case, the preset price, I think it was like $23 a share or something.
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  And that is well below what the share price is at now. So he got these shares that are worth $200
• 11:58
  a share for like $20, $20 a share. Does that make sense? So he got options back in 2018 when the
• 12:06
  share price was in the 20s. It's now on the 200s. Those options is what we call vest, which means
• 12:13
  they effectively granted to you. So an option is a right to buy company shares. It's not,
• 12:21
  you don't get given the shares. They have to vest over a certain period. It could be 12 months.
• 12:26
  So I'm sitting here with you, so I'm like, look, let's set up an options contract that gives you
• 12:31
  the right to buy shares in the curve at a preset price. And then when they vest in the future,
• 12:41
  you're hoping that that preset price will be lower than what the current share price is. Let's
• 12:45
  sit on this for a minute because I think, I mean, when we had a conversation about this last week,
• 12:50
  we were on a train and we talked about half an hour and I was like, I don't get it, I don't get it.
• 12:53
  So it's like investing in the curve 12 months ago, the share price would have been a lot lower.
• 13:01
  You've been given shares, say today, that are at 12 months ago's price, for example. But think
• 13:10
  of that in the future. So I reckon the way that vest just lets Paul on that because the idea of
• 13:16
  investing is that you're not given them straight away. So it seems you've earned them, but you still
• 13:23
  need to purchase them with money, if that makes sense. So in your compensation, it's like we're giving
• 13:28
  you these options, which gives you the right to buy shares in the future, but at, say, today's price.
• 13:37
  So if the share price goes up and up and up, say in the next 12 months, over that 12 month period,
• 13:43
  that's your besting period. So you've given them, you've given the options today,
• 13:48
  and the share price does fantastically well, say it goes from $20 to $200, which was in Tesla's case,
• 13:55
  you'd be like, of course I'd buy them. I've got an instant uplift and return because I'm buying
• 14:01
  them at 20 and they're trading at 200. Does that make sense? Yeah, it is. So you're like, it's a
• 14:07
  no-brainer, of course I would. It's almost like if you were to, it's the idea of almost like a
• 14:13
  I guess the difference would be you get, given she is today, at today's share price, and whatever
• 14:18
  happens happens with that price. Whereas this is like, hey, we believe in the company and we know
• 14:24
  it's going to do well in the future, so you can get in at a discounted price now, because they'll
• 14:29
  be worth so much more in the future. So how much should he make? And so he made $56 billion.
• 14:35
  Billion. Billion. Just on that. Because the share price went from in the 20s to 200s,
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  and now he's sitting there going, they're worth 200, but I can buy them at 20. That's effectively
• 14:46
  what his package is. So, and he got 300 million shares because they've done stock splits,
• 14:52
  which is when the share count or the amount of shares that Tesla has is divided into two and three.
• 14:58
  I actually saw Sim from Girls Investor, a really good like Instagram video on stock splits,
• 15:05
  and she had like a cup of matcha, and she was like, a stock split is like, you still have the
• 15:09
  same amount of matcha, it's just split into two cups. I was like, oh, it's such a good way to think
• 15:14
  about that. So true. Yeah. It's like, you've got one piece of pizza, it's just sliced in half again.
• 15:19
  Yeah. You still get the same amount of pizza. It's sliced into twos or threes. It's like,
• 15:23
  it's like when there's a last bit of food on the table, and there might be like a last ball of
• 15:27
  knocky, and then someone goes and like cuts it in half, and then they cut it in half again. No,
• 15:31
  I want to eat the last bit on the plate. It's such a kiwi thing. No, it's weird. Yeah.
• 15:35
  And the way he comes down there, like, do you want it? And I was like, no, I've just started eating
• 15:39
  the last bit. Yeah, I know. I know. I know. And then I'm like, who cares? If you wanted it,
• 15:42
  then you should have had it, you know? Get it quick. Anyway, so, yeah. So this is what Elon Musk got
• 15:48
  was $56 billion for his pay package. Now, she holds it, well, this is the end of last year,
• 15:56
  a few shareholders kicked up a fuss and were like, hang on a second, that's an outrageous amount
• 16:01
  of money for a CEO to be compensators and to be paid. And he's not getting paid. He's getting
• 16:06
  the shares. He's getting the shares. It's still a dollar amount. He could sell the shares today,
• 16:10
  and then he'd had $56 billion. So anyway, it's literally the biggest pay package in US history,
• 16:17
  because he was so determined and knew that his business would do well, that he was like,
• 16:23
  yeah, of course. And the she-holders back in 2018 were like, this is outrageous. You'd never
• 16:28
  achieve that. And he has, and now they're saying, actually, we don't want to pay you. It's like
• 16:34
  the rules, the rules. And just because you didn't think it was outrageous at the time.
• 16:40
  So it's the whole point that's like the gamble and the way you take on, you know, either working for
• 16:45
  startups and having less money or investing the stock market in general. You don't know what's
• 16:48
  going to happen. Exactly. And like with the curve, for example, we could grant our staff options
• 16:56
  and we could have the same situation. I mean, we could be paying them $56 billion in five years.
• 17:01
  It would be great. But if the business does, if the business, well, sorry guys, I need to slow down.
• 17:09
  Judd. The business does well. I quite like that word. Judd. It's like if it's like a historic
• 17:16
  did. It does well. Anyway, this is what's gone on. He just got approval that, hey, you know what,
• 17:25
  you granted me those options and they're investors and now they're worth $56 billion. So he,
• 17:30
  a judge got involved because investors were like, no, that's absolutely ridiculous. And he got his
• 17:36
  $56 billion, which is- I don't think it's so annoying that people were like up and arms about
• 17:42
  my bonus. Like go away. And also, I'm sorry. If you invested $10,000 in Tesla five years ago,
• 17:49
  you've made a, you've got $100,000 now. Like he's driven the business and made it a huge success.
• 17:56
  And now you're like, oh no, we don't want to pay him. It's like you wouldn't have had that return.
• 17:59
  There would be no Tesla without Elon Musk. I'm not really normally an Elon Musk is can,
• 18:04
  but in the situation I definitely am. Well, there's other, he's now been sued for sexual harassment.
• 18:10
  What? In his other company, SpaceX. Really? Yeah. By how many people?
• 18:16
  Eight. Eight women. Really? So they've come for-
• 18:20
  Eight employees, I don't know if they want- I never said like he's been like whatever.
• 18:24
  Yeah, I mean being sued is pretty. Wow. That's so bad. Yeah. So there are people that out there that
• 18:31
  don't like him. I mean, he is a very polarized, yeah. He's achieved great things and I don't think
• 18:39
  you can almost be a, I'm not obviously condoning this behaviour at all. I'm just saying like,
• 18:45
  of course he's going to be quite, quite, yeah, like just wide a different way.
• 18:51
  Also, just to clarify, she's not referring to the sexual assaults. Sorry, no, no.
• 18:55
  I'm referring to the fact that someone can turn a business from $20,000 to $200,000,
• 19:03
  you've got to be- I would have thought that the allegations would mean he would need to step down,
• 19:09
  like I would have thought that that's- Well, this is the thing. It's like,
• 19:16
  yeah, I mean, the board could definitely be like, but this is a different company,
• 19:21
  so this is SpaceX. So you can't then have a company like Tesla and be like, but you could,
• 19:26
  you could argue it's a bad tension, right? Yeah, judge a character like you could. But then
• 19:32
  there's no Tesla without Elon Musk. So if he- I think he should suffer, I think that's really fucked up.
• 19:37
  No, yeah, I think this definition should be consequences, but-
• 19:43
  I shouldn't probably- But as a she-holder, if you're sitting there as a large she-holder of Tesla,
• 19:48
  do you go, do I do the moral thing? Invote against him and he will have to leave Tesla and
• 19:54
  my she-as-go. If Elon Musk announced he was leaving Tesla, I don't even know who that she
• 20:01
  price would go. I don't know, that's a tricky one. Well, I think it's also similar to- you know,
• 20:07
  I've been having a lot of conversations lately about the difference between massive corporations
• 20:13
  taking responsibility for things that, you know, I mean, single-use plastic, for example,
• 20:19
  it's really- it's difficult to be the one that stands up and it's like, I'm not going to do
• 20:26
  the X-Wazee because there's not really that many convenient alternatives. You know, obviously,
• 20:30
  there's key pups and that kind of thing, but at what point is it corporations responsibility
• 20:33
  opposed to putting that onus on the individual? And I think it's an interesting one when it comes
• 20:39
  to something like Tesla because it's like there's this massive corporate that should be the one
• 20:46
  that's making the hard decisions about his bad behaviour, but actually it's us as shareholders
• 20:50
  that have to decide, do I want to invest in this company or do I want to do the right thing
• 20:56
  morally and go against that? Do you know what I mean? There's so many things to take into consideration.
• 21:00
  Yeah, it's like what the company does, who the leader is, what their like is a human. Like there's-
• 21:05
  and it's almost just like it sucks that it comes down to the individual or the shareholder or the
• 21:10
  investor to make those moral decisions when really it should be at a company level. It's kind of
• 21:15
  what I mean. It's similar to like the environmental piece. It's like that company should look at
• 21:20
  horrendous CEO behaviour and they should be the ones dealing with it. But when you say the company,
• 21:25
  do you mean the management, the board? Because it's- I guess shareholders hold us on the company,
• 21:31
  so at the end of the day the buck stops with them and they're the ones that can hire and fire
• 21:36
  the board who can hire and fire the CEO. I guess because they know from a share price perspective
• 21:41
  that if the CEO owns a whole bunch of shares, like he does with Tesla, that's what makes it so tricky.
• 21:46
  But then you want the CEO to own shares because you want them to be driven and invested in the growth
• 21:50
  of the business. So yeah, it's a lovely space to navigate. Yeah. Anyway, in other news, we've had
• 21:57
  two other companies have updates, which you might find interesting stuff and everyone listening,
• 22:02
  hopefully. Adobe. So Adobe's had a pretty tough run. This year it's down, this year price is
• 22:08
  down to about 10% and to put that in perspective, because we should always look at perspectives in
• 22:14
  terms of- that's why the S&P 500, which is the top 500 companies in the US, exists. It's a benchmark,
• 22:19
  it's an average. So it's like if a company is doing worse than that, then it's doing below average,
• 22:24
  if it's doing better, you know, yeah. So the S&P 500 has done 15% this year today.
• 22:29
  So if you're down 10%, you're technically, so you would add the 15%, so it's like 25%.
• 22:34
  Yeah. You've underperformed by 25%. And this is kind of all around Canva, really. And Canva
• 22:43
  coming in and taking a lot of- I mean, different kind of customers, but it would have been-
• 22:50
  No, definitely not. Yeah, there's definitely products that would either love-
• 22:53
  Do you think about yourself as a designer and you use Adobe? Me? Me as a designer? I was like,
• 23:00
  I just like, think about how much graphic designers charge or- but if you use Canva, like anyone
• 23:06
  has access to very, like, pretty premium looking designs. And I'm not to say, like, I'm not saying
• 23:12
  that that takes over every designer's job, but I can understand why this year price is done badly
• 23:18
  and why people would be spending because it's smaller businesses that can't afford a graphic
• 23:23
  designer, can now pay a Canva subscription and have similar outputs. So that makes sense to me.
• 23:29
  Yeah. And, well, they've had a bit of a turnaround. So literally on Friday, this year price was
• 23:34
  up 15%, which is a big jump for a big company. And it's all around AI. You said they went up
• 23:41
  15%. Yeah. What, a joy be? In a day. One day. Yeah. So a lot of investors now are like,
• 23:46
  oh, is this the turning point? Like are they- they're incorporating a lot of AI into their new
• 23:50
  products and a lot of new customers. They're winning back a lot of customers. And their profit
• 23:56
  was good. Their sales were strong. So everyone's kind of thinking, is this the turnaround for Adobe?
• 24:02
  And yet, the CEO was super positive. They're expanding their market, attracting new customers,
• 24:08
  all of the stuff. So yeah, it could be- I also think a little bit,
• 24:15
  is- and I'm not saying Adobe's doing this, but I'm like, our company's being strategic and
• 24:18
  just being like, oh, we're incorporating AI. And then investors get so- they're honestly
• 24:23
  drinking the AI cool days at the moment. You mention it and everyone's just like, oh my gosh,
• 24:28
  it's going to be game-changing for any company. So we went- we went to London Techweek last week.
• 24:32
  And I actually heard one of the- I don't know if it's a CEO, but someone's super high up at Canva
• 24:37
  Speak. And one of the things that he shared was that like, they've been incorporating AI
• 24:41
  for like eight years. Like, it's not a new thing for them. They showed this new feature they had
• 24:46
  where it was almost like, for videos and photos, they could remove the background. So easily.
• 24:50
  Oh yeah. Which is such a difficult thing to do when you're using Adobe or you're editing.
• 24:54
  Oh, the iPhone's bringing that out this year. And that's kind of what I mean is, I think,
• 24:58
  yes, there's definitely the AI. Cool. But at the same time, a lot of- I know that leaf is like
• 25:03
  just sitting on your head. It's so annoying. Like, I think just turn the plant around.
• 25:07
  I just tried that for like half an hour. Yeah, I don't know. I just- I think that there's
• 25:14
  like an element of, yes, like there will be companies doing that. But if Adobe's making a comeback
• 25:21
  because they're incorporating AI, it will be serious stuff like- Yeah.
• 25:25
  The reason that Adobe is so inaccessible to so many people who are not designers is because
• 25:31
  it's really complex. Like, the way in which it works, there's no like, I mean, you go on to
• 25:35
  a designer. I remember like sending you a file and you know, I have no idea what to do and
• 25:40
  neither really. Like, it's hard to use. But if they hit AI, like popping up from an education
• 25:44
  standpoint and being like, do you want to do this or do you want to like- Yeah.
• 25:47
  It would- their functionality is probably are amazing and way better than Canva, but
• 25:52
  because there's no artificial intelligence to help guide the user.
• 25:57
  I don't know if they incorporated it, I imagine it would be actually really amazing software.
• 26:01
  Yeah, I think there's a lot of companies though that it's now almost like a baseline.
• 26:07
  Do you know what I mean? That you have to have AI. And some functionally, AI in your business.
• 26:11
  This is what someone said at Techweek, they were like, AI incorporating AI into business is not
• 26:16
  about winning. It's not how you win. It's how you avoid losing. Totally. I thought that's
• 26:21
  such an interesting line because it's not- it's not the be-all-in-end or an AI is not replacing
• 26:26
  creativity or replacing people. It's enhancing our abilities. Yeah. It's enhancing creativity.
• 26:31
  Every employee is now 120% more productive or- Sorry, yeah. They've just got that extra capacity
• 26:38
  to do other things in the business or, yeah. Sorry, it's hard. And then lastly, Lululemon.
• 26:45
  So this has kind of been a darling stock for like years. I mean, you can put money in it and you
• 26:51
  kind of know it's going to go up. It's what a darling stock is, you know? It's like- I love that.
• 26:55
  Yeah. It's like you're a darling. Oh, here's my money. Yeah. So anyway, it's been a
• 26:58
  bread of a darling stock. It's- the company actually started in 1998. So it's been around for a while.
• 27:04
  And then when public in 2007, it's reached $1 billion in revenue in 2011. So it's definitely,
• 27:11
  yeah, it's almost- you can't avoid the product either. You know, every yoga studio, every
• 27:16
  Pilates, every gym. It was just like Lululemon everywhere. But they- they're most recent results.
• 27:24
  Growth was pretty dire. So they've achieved over 30% growth every year since- since the beginning
• 27:34
  pretty much. And now it slowed down- for a company that's like, yeah. And then now it slowed down
• 27:39
  to 10% and investors are like freaking- freaking out. Wouldn't the argument that they have had such
• 27:46
  incredible growth that like it will slow it some stage? Exactly. So this is the whole thing with
• 27:50
  investing. It's like you are investing in the future of the business. So if you've projected
• 27:54
  that 30- 10 years ago would have been good. But maybe it's not one. Oh, now you're just like-
• 27:59
  You would expect- it's- so now you- you would expect- I need a coffee. Now you would expect
• 28:06
  a lower growth rate, which means a lower return. Yeah, so all that stuff. So people that were in
• 28:11
  there for a really high return are now probably the ones exiting or- but anyway, it's been- it's
• 28:16
  down nearly 40% for the year. I'm going to buy it now if it's down that much. It's the third
• 28:21
  worst performer in the S&P 500. Is that- so was there any other news or things that came out when
• 28:27
  you were looking at the stock with? Like other than the fact that growth has slowed, was there any
• 28:30
  massive announcements or changes they've made? No, it was just in North America, which is 80% of
• 28:35
  its sales, that was the biggest slowdown at like serious slowdown. It's also there's a lot of
• 28:41
  competition coming out the people are scared of. Like a lot of people track Google searches to see
• 28:48
  what's gaining traction. And like there's- honestly there's analyst teams that track everything.
• 28:54
  I remember I was in a meeting once and they said- one of the biggest fund managers in the world
• 28:58
  and they said they have satellites that track car parks of stores that they invest in so they
• 29:05
  can see how many customers go in and that could help the model revenue. I was just like- you're
• 29:12
  just such an advantage when you have money to track anyway. They- yeah so there's people tracking
• 29:19
  Google searches and a- a- a- low, yellow, yoga, yellow. I've seen them like they've done a massive
• 29:26
  influence of push. And then the last couple of years their Google searches have like really
• 29:31
  increased- is it a public company? No. It's owned by two guys in L.A. that started in 2007.
• 29:37
  But then isn't that an example where if you can't buy it because it's not public that it's-
• 29:41
  No it's just something to be aware of. If you're on shares in Lula Limon,
• 29:44
  there's other competitors. Yeah so it's just something to be aware of that. I also did in the UK
• 29:49
  you know that brand Tala that Grace Beverly Ones you wouldn't have- I'd never heard of it you know
• 29:54
  those yoga pants I came in the high-waisted like black flares really really well designed amazing
• 30:02
  stuff and yeah I like put them on I feel actually way more like held in Lula Limon stuff and it's
• 30:09
  it'll just be interesting to see if they can keep up with the design and like quality element
• 30:15
  that a lot of other competitors are starting to. Yeah I think it's just becoming quite a saturated
• 30:20
  place and again it's this whole thing of like look around you like there was a time when it was
• 30:26
  only Lula Limon. Now there's like yeah you coming to me being like hey I've got this new brand
• 30:30
  of yoga pants they're great seeing all these influences do stuff with Aloe. It's like
• 30:35
  there is lots of things in my sphere that I'm seeing that are making me think hey maybe Lula Limon
• 30:43
  is losing share and there might be- they might be investing in something big or they might
• 30:48
  pivot and start doing handbags or something I don't know but like yeah it's like being aware of
• 30:55
  if you're investing in companies like Lula Limon you should be looking at competitors or like looking
• 30:58
  around because there might be another one that you want to invest in it's doing well not Aloe
• 31:04
  because it's not public but yeah there's lots of there's just things to be aware of just keeping
• 31:10
  your eyes open yeah nice the ground is to the ground why because you're listening oh yeah
• 31:18
  yeah also eyes to the ground you want to look no I think it's ears I know but you we're changing it
• 31:24
  okay yeah to eyes to the ground do you want to be looking around yeah yeah um sniffing out
• 31:30
  competition yeah that yeah um that was a really good curve weekly I know I'm biased but like
• 31:37
  nice and for anyone who wants to do the curve challenge a little um what's it called the what what's
• 31:42
  the fund thing we've called field good fund field good fund uh we'll put the details and the podcast
• 31:46
  show now it's an apologies for all the yeah should you guys that we would normally have cut out
• 31:51
  and we'll come back from grace we're struggling yes please come back never go on holiday again
• 31:56
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• 32:00
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• 32:14
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• 32:19
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