Latest / What the Flux / The ACCC turns The Good Guys bad | Spotify takes on Meta | Samsung's new secret to longevity

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The ACCC turns The Good Guys bad | Spotify takes on Meta | Samsung's new secret to longevity · What the Flux

• 0:05
  Speaker 1: This is what the Flux. I'm brand Justin and it's Friday,
• 0:08
  Speaker 1: the twelfth of July. Douzy boy.
• 0:10
  Speaker 2: Remember when there was talk about the great resignation post COVID. Well,
• 0:14
  Speaker 2: the Australian Bureau of Statistics has recorded a decrease in
• 0:17
  Speaker 2: job mobility for the first time in three years. In
• 0:19
  Speaker 2: the twelve months to feb twenty twenty four, up to
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  Speaker 2: eight percent of Ossies changed their employer, which was down
• 0:25
  Speaker 2: from nine and a half percent last year.
• 0:27
  Speaker 1: So I didn't just stabilize. Uh huh the man. Last
• 0:29
  Speaker 1: week we dropped our hundred bucks on our weekly quiz
• 0:31
  Speaker 1: quick Sticks and it went berserk. We're gonna do it again.
• 0:34
  Speaker 1: One hundred bucks for the first person to answer five
• 0:37
  Speaker 1: questions correctly in the Flux app at a random time today. Wow,
• 0:40
  Speaker 1: to make sure to download the Flux app and have
• 0:42
  Speaker 1: your notifications on.
• 0:43
  Speaker 2: Three free money stories today, Juzzy boy. For our first
• 0:47
  Speaker 2: Ossie retailer, The Good Guys is alleged to have failed
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  Speaker 2: to provide store credits to thousands of eligible consumers and
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  Speaker 2: now the ahriable c wants to have their way with them.
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  Speaker 1: So not such good guys after all. Sure you could
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  Speaker 1: see that guy coming. What's going on here? Well?
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  Speaker 2: The Good Guys is the electronics and appliances company that
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  Speaker 2: started in nineteen fifty two in Melbourne.
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  Speaker 1: Since then, it's going to over one hundred stores and
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  Speaker 1: over three and a half thousand employees, including employees singing
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  Speaker 1: and cringely dancing to that little jingle of.
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  Speaker 2: Their paid cash and will slash the now.
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  Speaker 1: In September twenty sixteen, JB high Fi bought The Good
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  Speaker 1: Guys to eight hundred and seventy million Bakarni.
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  Speaker 2: But now the Australian Competition and Consumer Commission has alleged
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  Speaker 2: that The Good Guys made misleading claims in promotions to
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  Speaker 2: its customers over the past four years.
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  Speaker 1: And we're not talking just one or two or ten
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  Speaker 1: times or fifty times, but one hundred and sixteen different
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  Speaker 1: promotion yep.
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  Speaker 2: The Good Guys offers customers store credit if they spend
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  Speaker 2: over a certain amount of money on products, but in the.
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  Speaker 1: Fine print it said you needed to use the credit
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  Speaker 1: within ten days or it disappears.
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  Speaker 2: The atriple C is alleging that the Good Guys made
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  Speaker 2: false or misleading representations by burying these terms in hard
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  Speaker 2: to find location.
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  Speaker 1: But interestingly, be Man. After JB High Fight disclosed its
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  Speaker 1: little run in with the a trible c it's share
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  Speaker 1: price jumped two percent. Would you believe it?
• 2:03
  Speaker 2: So what is the key learning here?
• 2:04
  Speaker 1: A rising tide can lift all.
• 2:06
  Speaker 2: Boats, you see, juz boy, this is the idea that
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  Speaker 2: in improving industry or economy can benefit all companies, even
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  Speaker 2: those with not so positive news.
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  Speaker 1: And yesterday the optimism of the Australian share market was widespread.
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  Speaker 2: Why is that, jussy boy, You've got evidence for me?
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  Speaker 1: Well, only thirty seven of the top two hundred ASEX
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  Speaker 1: listed companies dropped in the afternoon trade.
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  Speaker 2: On top of that, not one sector on the ASEX
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  Speaker 2: was negative.
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  Speaker 1: Yesterday, and be Man, this is a pretty clear sign
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  Speaker 1: that there is a whole lot of confidence in the
• 2:33
  Speaker 1: Australian share market.
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  Speaker 2: So, Jazi boy, even though this news is quite the
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  Speaker 2: distraction for Jbhi Fi Group to deal with, the timing
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  Speaker 2: was quite impeccable on the.
• 2:41
  Speaker 1: Day when the ASEX two hundred nearly reaches an all
• 2:44
  Speaker 1: time high.
• 2:44
  Speaker 2: For our second story, Samsung has announced brand new tech
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  Speaker 2: devices at its Galaxy Unlocked conference and this is sexiest
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  Speaker 2: products are all around health tracking.
• 2:54
  Speaker 1: This news has a certain aora to it. Be Man,
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  Speaker 1: you went to catch my little drift may always bumping
• 2:59
  Speaker 1: you out? Now tell me more.
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  Speaker 2: Well, we all know Samsung, the South Korean tech giant
• 3:03
  Speaker 2: and the world's largest producer of memory chips, smartphones, TVs.
• 3:06
  Speaker 1: That's what we know Samsung for, But the companies also
• 3:09
  Speaker 1: dabbled in some more niche.
• 3:10
  Speaker 2: Product We talking skincare devices, military tanks, even their own
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  Speaker 2: theme park, and currently be Man.
• 3:17
  Speaker 1: In Korea, Samsung Electronic employees are on indefinite strike.
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  Speaker 2: Even though they're on strike, juzzy boys, Samsung did just
• 3:24
  Speaker 2: announce brand new health tracking devices, the Galaxy Ultra Watch
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  Speaker 2: and even the Galaxy Ring.
• 3:29
  Speaker 1: I get this. This ring is designed to track sleep patterns,
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  Speaker 1: at heart rate and send fitness reminders to its users.
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  Speaker 2: And because it doesn't have a screen, it syncs with
• 3:37
  Speaker 2: a phone ahem, Android only to show that data cop
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  Speaker 2: that Apple And this marks Samsung's biggest step into the
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  Speaker 2: wellness and more specifically the longevity space.
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  Speaker 1: So what is the key learning here?
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  Speaker 2: Unlocking the secrets to a longer, healthier life has become
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  Speaker 2: big business for tech companies.
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  Speaker 1: You seebe Man, interesting, longevity and healthy living has been
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  Speaker 1: really popping off as global population.
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  Speaker 2: Are aging, and as a result, there's also been a
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  Speaker 2: lot of interest in monetizing this trend.
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  Speaker 1: Get this. The longevity market was valued at twenty seven
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  Speaker 1: billion US dollars in twenty twenty three, but it's expected
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  Speaker 1: to grow to over forty four billion US dollars by
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  Speaker 1: twenty thirty one.
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  Speaker 2: That's over sixty percent in under ten years.
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  Speaker 1: And you can bet b man at Samsung's new ring
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  Speaker 1: is an attempt to grab a chunky slice of that
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  Speaker 1: market all for themselves.
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  Speaker 2: And they're not the only ones capitalizing on the longevity trend.
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  Speaker 1: No, no, no no. In the last decade, we've seen
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  Speaker 1: companies like Aura and Whoop cash in on this trend
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  Speaker 1: with their wearable health tracker.
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  Speaker 2: Today, those companies have valued at two and a half
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  Speaker 2: billion US dollars and three point six billion US dollars respectively.
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  Speaker 1: So Samsung is now the latest player to make strides
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  Speaker 1: in this industry, but it's safe to say it won't
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  Speaker 1: be the last.
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  Speaker 2: Not denying your move now, Apple.
• 4:45
  Speaker 1: For our third and final story, Spotify has launched a
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  Speaker 1: number of new features. It's stir it closer and closer
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  Speaker 1: to a full blown social networking experience.
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  Speaker 2: Next up reboot of the feature where you can see
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  Speaker 2: what your friends are listening to live tell me more
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  Speaker 2: does it?
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  Speaker 1: So Spotify obvious become the goat of all things audio
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  Speaker 1: over the past eighteen years.
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  Speaker 2: It went from music streaming, then to podcasts and now
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  Speaker 2: even audio books.
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  Speaker 1: Less music streaming app and more audio app.
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  Speaker 2: And through these evolutions, Spotify has managed to grow to
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  Speaker 2: over six hundred and fifteen million monthly active users and.
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  Speaker 1: Two hundred and thirty nine million paying subscriber.
• 5:19
  Speaker 2: But now Juzy Boys, Spotify is pushing the goal sticks
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  Speaker 2: even further because it's now released features that let its
• 5:25
  Speaker 2: users comment on podcasts as well as.
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  Speaker 1: That they've got the q and as the polls on
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  Speaker 1: podcasts as well, And.
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  Speaker 2: It's pretty clear that Spotify is testing low risk ways
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  Speaker 2: of becoming more of a social network where users can
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  Speaker 2: interact with each other as well as the podcast Remember,
• 5:38
  Speaker 2: they added Spotify Clips earlier in the year, which is
• 5:41
  Speaker 2: a bit like Instagram Stories, and they haven't denied adding
• 5:44
  Speaker 2: the same features for music artists in the future. So
• 5:47
  Speaker 2: Jua Lipa could receive and respond to comments on all
• 5:50
  Speaker 2: of her.
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  Speaker 1: Bangers like it. So what is the key learning here?
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  Speaker 2: If it looks like a social network, acts and quacks
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  Speaker 2: like a social network. It's probably going to become.
• 5:58
  Speaker 1: One be man with the addition of comments. Spotify is
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  Speaker 1: trying to become an app where users aren't just listening
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  Speaker 1: to audio.
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  Speaker 2: Now they won an app where the user is actively engaged.
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  Speaker 1: Sharing their thoughts, sharing their feelings, their opinions like they
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  Speaker 1: do on traditional social networks, and.
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  Speaker 2: With q and as and polls and comments and Spotify clips,
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  Speaker 2: Spotify is looking to compete for their users' social.
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  Speaker 1: Time and eventually the ad dollars that are spent on
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  Speaker 1: larger social networks.
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  Speaker 2: In fact, Spotify only generated one point seven billion euros
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  Speaker 2: worth of AD revenue in twenty twenty three for over
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  Speaker 2: six hundred million users, whereas X, which has around the
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  Speaker 2: same number of users, made over four point four billion
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  Speaker 2: US dollars in revenue in twenty twenty two.
• 6:34
  Speaker 1: So TikTok, Mata.
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  Speaker 2: And x may be shaking in their musically minded booties.
• 6:38
  Speaker 1: Flospam, if you want to start off the weekend on
• 6:40
  Speaker 1: a high with one hundred bucks in your front pocket,
• 6:43
  Speaker 1: make sure you had your notifications turned on and the
• 6:45
  Speaker 1: Flux app are ready to go. We are dropping five
• 6:48
  Speaker 1: questions and the first person to answer correctly wins one
• 6:50
  Speaker 1: hundred bucks.
• 6:51
  Speaker 2: Thanks for listening, and we'll see you on Monday.