Latest / The Curve / A Retirement Fund Wake-Up Call, The AI Chip Crisis, & goodbye “Girlbossing”.

Transcript

A Retirement Fund Wake-Up Call, The AI Chip Crisis, & goodbye “Girlbossing”. · The Curve

0:00
Welcome to the Curve Weekly, where we read the finance news, so you don't have to.
0:06
I'm Vic Harris, a finance professional, and have managed money for many, many clients
0:10
over the years.
0:11
I'm Sophie Hallwright, I'm an ex-radio television producer, and I was really sick and tired
0:15
of not understanding anything about money, so we saw that this podcast.
0:19
In today's episode, we talk about another crisis on the horizon.
0:23
It's not a cost of living crisis, it's a chip crisis.
0:27
Are we talking about potatoes?
0:29
Are we talking about AI chips?
0:31
We also talk about how there's been a little bit of a market wobble.
0:34
But don't worry, we're going to put your mind at ease and explain that wobble is a normal.
0:38
Netflix and one of others, there is movement in the saga that is basically just the ongoing,
0:45
enormous.
0:46
Can I say penis swinging competition?
0:48
So get the popcorn.
0:49
Yeah, get the popcorn out.
0:50
And there is a scary news stat about how many people are missing out on nearly $8 million
0:56
in their retirement funds around the world.
0:58
And lastly, there's a new wave of feminism, and it's essentially the fact that the girl
1:02
boss is no longer.
1:04
I kind of love this new trend, and hopefully we can start all jumping on board, because
1:09
exhausted with trend and everything, don't know about you.
1:11
And that wasn't lastly, this is lastly, there is a reason why our groceries are so expensive
1:16
in the Southern Hemisphere.
1:17
Oh yeah, this is a really good explanation, if you're wondering why your broccoli is costing
1:22
a million dollars, we're going to explain why.
1:25
Before we dive in, Soph has had to dive in to her emergency fund again.
1:28
Oh yeah.
1:29
It's really dim-stating.
1:32
Vic, I saw your boyfriend on the television last night.
1:35
I feel like everyone did, but me.
1:38
I honestly got a real fright.
1:39
I was like, Dad, Dad, that's Vic's boyfriend.
1:41
I know, he's like, yes, Soph takes me, and then my sister and her boyfriend were like,
1:45
oh, he saw your last night on the TV, so they saw her, and he's just staring at me going.
1:49
Where's my support?
1:50
Where's my support?
1:51
But I must say he was really good.
1:52
I was like, I'll watch you tonight, and I can't, I'll watch you said it, I can't.
1:56
I'll watch you on Sunday, I promise.
1:58
I'll watch you online.
1:59
He was so good.
2:00
I just thought, do you know last, since our last podcast, and I think I wasn't really
2:04
watching the Olympics, it's amazing.
2:07
I've been loving.
2:08
I watched the ice skating, watched the bobs leading, which I will say, I was a bit questioned
2:12
mark around the city.
2:13
What about that one where they just lie on top of each other?
2:15
Have you seen that?
2:16
It's kind of like bobs leading, but like just two people lying on each other.
2:21
The bobs says where you hop, you have four of you, hop in, whereas this one, they just
2:25
lie.
2:26
How do you, how do you pick a partner?
2:28
How do you train for that?
2:30
Yeah, it was loud, hop me on, no, no, no, you won't do it, you won't do it.
2:33
Oh, I haven't seen that one, it's so funny.
2:35
It's so weird.
2:36
It's almost like, how do you lie as close as possible so you don't get any like ear friction?
2:39
What do you mean, they let this bobs leading on their bodies?
2:42
There's like, it's almost like a skateboard with wheels.
2:45
Yeah.
2:46
And then there's one person that lays down facing up, and then another person that lays
2:49
on top of them.
2:50
They're going to say facing down.
2:51
No.
2:52
I was like this.
2:53
Imagine training something that you just lie down and close your eyes, and just hope
2:56
you get to the other end.
2:57
I remember we spoke about something on the podcast a while ago.
3:00
And you went a gold medal for it, and then someone's doing back flips, twist turns, landing
3:04
on their skis.
3:05
I know.
3:06
And they get a gold medal.
3:07
We did have a conversation similar to this.
3:09
A while ago, I got a cut reward spot where we were talking about, and someone messaged
3:11
just being like, remember, like Sophie, like you sound like I do this for a sport,
3:16
and I was like, oh, you've got to remember this.
3:18
You know, I've trained the whole lives to, I'm trying to be a lifeline skateboard.
3:21
I'm trying to be funny, but you're right.
3:23
There is probably a lot of skill in it, like people.
3:26
Or you could just jump on a podcast and talk about furniture, and it's like, no, there
3:29
is skill in this.
3:30
There is a lot of skill.
3:32
What's the, is it Bob's leading, where they're in the tunnel, and they're sort of just
3:36
going down it?
3:37
Yeah.
3:38
That I thought I don't know.
3:39
It's a first aid scary, secondly, what is the person in the front doing?
3:43
You know, they're just sitting there not touching it.
3:45
There must be body weight or something to do, but like the way you sit, or I would just
3:49
be closing my eyes and holding on for dear life so we make it to the end.
3:52
Oh, anyway.
3:53
Like I had a real, I'm having to use my emergency fund in the next week, and I'm avoiding
3:57
it.
3:58
You've seen what's happened to my phone.
3:59
I went for a run, which, like, good on me.
4:01
I ran about two kilometers.
4:02
I think every, every time you go on a run, it makes it on the podcast.
4:05
Oh, it does.
4:06
So you run must think you're a really good runner.
4:07
You're right.
4:08
And I'm doing it like once every two weeks.
4:10
No, sorry.
4:11
I'm too warm.
4:12
I know you're right.
4:13
It is becoming, like, when I do it, I feel so proud of myself, but the point was I tripped
4:19
over my foot on my last two kilometers run, and fell and smashed my phone on the ground.
4:25
And now?
4:26
Do you have one case?
4:27
Yes.
4:28
Oh, OK.
4:29
But it wouldn't face down.
4:30
You know, it was quite an aggressive fall.
4:31
So now in the conundrum of do I buy a whole new phone or do I try and just get the screen
4:35
fix?
4:36
Because I feel like the screen ends up being just as expensive.
4:39
There's some pretty good places around.
4:40
I'm just going to get some quotes, do some research.
4:43
But it's, do you know what?
4:45
These are buffer for it, guys.
4:46
I've got money aside for this.
4:49
But for some reason, when it comes to spending it, I just really don't like it.
4:54
Yeah.
4:55
I don't know why I need to get over it so annoying.
4:58
I just hate having a crash.
5:00
It's been cracked for a year and every time I give my phone to someone, I'm like, oh,
5:02
sorry, it's cracked.
5:03
I'm just having the other day pretending that it's just happened and I haven't got
5:07
it.
5:08
It feels quite unprofessional.
5:09
I often like feel myself thinking, oh, sorry, I feel like I'm really on one speaking
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of.
5:15
So do you say?
5:16
No, no, no.
5:17
We just, we had this sort of thing that we, we both spoke at yesterday for BNZ.
5:21
We were on a panel and there was two other amazing women, Juliet Hogan, who's an amazing
5:26
New Zealand fashion designer and then Royal.
5:29
What was her last name?
5:30
She was so cool.
5:31
Yeah.
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Like, honestly, the funniest.
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And inspiring person.
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She was a lawyer, a family lawyer.
5:35
Yeah.
5:36
She was so cool.
5:37
And I had one of those moments where I just get really surprised when people listen to
5:42
the podcast because I forget, I forget that there's these super smart people that listen
5:49
to the podcast.
5:50
I know.
5:51
I just think, well, the dribble that sometimes comes out of my mouth.
5:53
I know.
5:54
I forget that like, we jump in a room and we forget that people actually listen and you
5:58
forget like your boyfriend's parents listen, that your parents listen.
6:01
I think it's a really good point that it's good that I forget because I think I would struggle
6:05
to talk normally otherwise.
6:06
I'd get so in my head about sounding stupid or, you know, it's quite good that I sort
6:11
of forget people listen.
6:12
So that can sound stupid.
6:13
No, no, no, no.
6:14
It's more just, for example, Royal, who's, you know, built and sold law business and
6:21
is just this, she was just, I, and Juliet Hogan, who's been in business for 22 years, who
6:28
said something to me about, I saw you, you know, when you're here last year and I thought
6:31
I should come and say hi and I thought to me, to me, to me, to me.
6:34
Hi to me.
6:35
Hi to me, for FourCars, I'm just, I was an options.
6:38
So thank you, everyone, for listening, it's good to know that there's an audience.
6:42
We've been doing a lot of events, which is great.
6:44
Got another one today.
6:45
Got another one today.
6:46
Road Tripping to Fung Mutta.
6:48
I think next year, next year perhaps we go, you know, we go big or go home.
6:52
We do one big, you know, a cinema or a, no, that's not that big.
6:56
Maybe able to, or stall all.
6:58
A stadium, yeah, and we just keep Department.
7:00
Oh my god.
7:01
Oh my God, imagine trying to fill Eden Park
7:03
would have three rows filled.
7:04
I think we should do it.
7:05
God, it would be so embarrassing if not.
7:06
To get to free.
7:07
Oh, to get to free.
7:08
We want to fill Eden Park and create a movement.
7:11
The most fun and even Eden Park.
7:13
Oh my God.
7:14
That's actually, sorry, the best idea ever.
7:18
Well, how would we do an Eden Park presentation?
7:20
It would be, and sorry, if you know
7:22
that doesn't know Eden Park, it's a giant.
7:23
It's the biggest idea in the ocean.
7:25
It's huge.
7:26
We would need to be quite animated for that to be achieved.
7:29
It would be like that, but it's super bowl.
7:30
Oh my God, I'm on one.
7:31
I think this is a big idea.
7:33
How many copies of you had this one?
7:34
Can we finish this podcast so we can all do it?
7:35
Yeah.
7:36
I'm here.
7:37
If anyone wants to organise it for us, amazing.
7:39
No, I want to do it.
7:40
Actually, go for it.
7:41
Yeah.
7:42
Maybe we should just do it like before a big rugby game
7:43
or something, you know?
7:44
No, because we will fill the stadium.
7:47
I think what you don't want is,
7:48
oh, I don't see.
7:49
You don't want to be this sort of like on-tra,
7:51
what's on-tra, like the opening performance.
7:53
But maybe you do because that's less pressure.
7:56
Maybe we get like Lord to open for us.
8:00
I saw her in a cafe in Auckland, did I tell you?
8:03
Yeah.
8:04
I walked into, like, this really cute old cafe
8:06
I was at the other day and she was seated there
8:09
and we sat next to her.
8:10
And I thought, don't look at her, don't smile,
8:13
don't say anything.
8:14
Because it would be in the middle.
8:15
I was so, I really wanted to say,
8:17
your concert was the peace concert I moved in to.
8:19
It was amazing in London.
8:21
Because I loved it so much, brought me so much joy,
8:24
but I thought, she'd love to hear that.
8:25
No, I just feel like you just want to leave her in peace, you know?
8:28
I interviewed Simran from Prince Ed and Vest the other day
8:31
and she was on a flight we had Sharon Mons
8:34
and she, I think she was upgraded to business class
8:37
or something happened and apparently Ed Sharon was sleeping,
8:41
woke up and as soon as he woke up,
8:43
someone was like in his face, like, how'd you sleep?
8:45
Did you sleep well?
8:47
Love the song, Safar, you know, like, kind of,
8:49
and you're just like, oh, let the poor guys sleep.
8:51
Yeah.
8:52
No, I don't know.
8:53
I'm so fine.
8:54
Yeah, imagine being famous.
8:55
Can't even imagine.
8:56
We will be after her to park.
8:58
The thing is, I do want this to be the best finance
9:00
podcast in the world.
9:01
Yes.
9:02
And I think that it can be.
9:03
Yeah.
9:03
So could you just share it with everyone you know
9:07
if you're listening to this?
9:08
It's so helpful.
9:09
And tell them if they listen,
9:10
they could come to an event at Ed Emparkings.
9:12
Yeah, yeah, yeah, they get a free ticket.
9:13
Haha.
9:14
So last week, we spoke about Google's 100 year bond.
9:24
It's quite a bizarre concept to think about.
9:26
The idea of someone issuing a bond for 100 years.
9:30
Yeah, someone borrowing my name paying you back
9:31
in a hundred years time.
9:33
We spoke about this.
9:34
If you missed it, do you want to do a top line
9:36
on what a bond is?
9:37
Is there any kind of key point?
9:39
It's essentially an IOU.
9:40
So say you were Google and you issued 100 year bond
9:46
and I bought it.
9:47
So I was like, yep, cool.
9:48
I'll loan you.
9:49
Let's say it was for a million dollars.
9:51
I'll loan you a million dollars for 100 years
9:53
and you just pay me interest for 100 years.
9:55
But like the reason it's such a flex
9:58
is because 100 years is so long.
10:01
Like the world can change so much in that time.
10:04
Yet the bond was taken up so quickly,
10:07
like the demand for it,
10:09
which shows that people are willing to back Google,
10:12
you know, for the next 100 years, essentially,
10:15
which is quite.
10:15
It's a pretty massive ticket approval.
10:18
So we've reached out to Nat.
10:19
We've had her on the podcast before
10:21
and we got her on a few weeks ago
10:22
to get her perspective on something
10:24
that was happening in the tech AI space
10:26
because she's just such an expert.
10:28
She loves and breathes AI.
10:30
And she has really interesting perspectives
10:33
on the tech industry at large.
10:35
So we wanted to get her take on what this kind of means,
10:39
what it looks like, how she's interpreting it.
10:42
So we're gonna play a little snippet from Nat now.
10:46
You're seeing some big investments being made right now
10:48
in data centers.
10:50
I'm gonna share with you a couple of thoughts
10:51
of what I'm seeing every day,
10:52
actually working in this space,
10:55
seeing businesses all over the world use technology.
10:59
It signals a couple of things.
11:00
Firstly, it signals really long-term conviction.
11:04
So AI kind of used to be this feature.
11:06
And now what we're seeing is AI has kind of become
11:10
this foundational infrastructure.
11:12
It's become like railways, like electricity grids.
11:16
It's kind of, particularly when we're talking about
11:19
these bonds that have been raised,
11:20
it's kind of similar to how governments
11:22
once financed bridges and railroads and power grids.
11:27
We're not kind of seeing this AI as a feature phase anymore.
11:31
We're definitely moving into this infrastructure
11:34
build-out phase.
11:35
So what that actually shows us is that, yes,
11:40
this infrastructure phase requires
11:42
in a hundred-year commitments to make this happen.
11:46
So that is what it's signaling is that AI
11:48
is becoming part of the fabric of society
11:52
and how we work because organizations
11:55
are making hundred-year commitments.
11:58
What I'm also seeing in my work every single day
12:01
is this that signals obviously the demand
12:05
for this hundred-year investment is, you know,
12:08
the demand for AI chips is way outpacing the supply.
12:14
I hear it every day with businesses
12:16
who cannot get their hands on these particular chips.
12:19
You've probably heard of the company in video.
12:22
They're very well-known for their chips.
12:24
Everybody wants them.
12:25
They can't build them fast enough.
12:27
So the other reason kind of why do we need such
12:31
like long-term commitment?
12:34
It's this concept called inference.
12:35
So let me break this down for you.
12:37
Every time you write into a question
12:39
into chat GPT, that is inference.
12:42
Every time you, your bank uses AI to detect fraud,
12:47
that is inference.
12:48
Every time you design an image,
12:50
say on Nana Vanana with AI, that is inference.
12:54
It's kind of the live answering part.
12:57
So when they do the training of the AI models,
13:01
that only happens every now and then,
13:04
but the inference part, that happens all the time.
13:08
So every single time someone use a model,
13:12
we're calling inference.
13:13
Now imagine kind of billions of searches
13:16
that is happening, millions of enterprise workflows,
13:19
developers completely changing the way they're coding
13:21
and using AI, customer support,
13:24
bots running 24-7.
13:26
Every single time one of those requests is made,
13:31
it needs a chip to think.
13:33
So that is why you're seeing this inference demand,
13:37
which means more chips,
13:38
which means more data center build out.
13:40
So yeah, that's the kind of the why
13:43
and the bigger picture behind what you're seeing,
13:47
behind these huge investments in data centers.
13:49
It's where moving from this, like,
13:51
AI is a feature as an app,
13:53
into it becoming critical infrastructure
13:57
of the next generation.
14:00
My final thoughts, actually,
14:02
is something that Sof said.
14:03
She said, I was worried.
14:04
I'm worried about keeping up with AI.
14:06
I feel like I need 30 minutes every day to keep up.
14:09
If you're thinking like this,
14:11
and you're worried about needing to keep up with AI,
14:14
let me push your mind at ease.
14:16
You do not need to keep up with AI every single day.
14:20
Like that is absolutely unnecessary.
14:23
Like I'm working in this space
14:25
and you just don't need to.
14:27
What you need to do is look at how AI might be useful
14:32
to you in your role at work, in your business,
14:37
maybe your teaching, like whatever it might be,
14:40
while I'm something that's exciting for you
14:41
and lean into it that way.
14:44
That's actually such a good piece of advice,
14:45
rather than feeling like you have to be across everything,
14:50
find something that's interesting and lean in.
14:52
I really like that.
14:53
Yeah, I did a talk last week at a conference
14:57
and it was about the financial services in New Zealand
15:01
and everyone was like, almost like not panicking,
15:04
but everyone was just a bit like,
15:06
we've been left behind, oh my gosh, like,
15:07
and it was, I don't know, there's a lot of fear
15:10
when it comes to AI, but I don't actually see it,
15:13
it's like the infrastructure, like we're gonna,
15:15
it's gonna be here for a very, very long time
15:18
and yes, it's gonna change how we do things,
15:19
but you don't need to be at the forefront all the time.
15:23
I don't know, I feel like I'm constantly evolving
15:25
in terms of like my use.
15:26
It's like cool, firstly I use it to like be more efficient
15:29
with content creation or email.
15:31
Email, whatever.
15:33
And then it's like, okay, cool, that's done.
15:35
Now I wanna use it to do tasks
15:37
and like connect different applications,
15:39
cool, we've done some of those, you know,
15:40
like it's like you start like clearing the way,
15:43
but the efficiency line in terms of like what it can do,
15:47
keeps moving, does that make sense?
15:48
Like the better you get the more you realize,
15:50
oh, I can actually be done away with that
15:53
and I can actually be done away with that.
15:54
I think the reason I feel as though I need a 30 minute
15:57
every day or to put time aside,
15:59
I'm just one of those people where I was the last
16:02
to get Facebook, I was the last to get on the stream,
16:05
I definitely am, I would say it's just slower
16:08
adopter than you.
16:09
But I think the last in terms of what are you benchmarking
16:13
that against my friends at school when I was 17?
16:15
Yes, but like that is, I just do a tiny, tiny,
16:19
and still probably the like top 10% of the world.
16:22
Do you know what I mean?
16:23
Yeah, I just think I was, I don't know if I spoke
16:25
about this on the podcast, but I was reading,
16:27
there's this amazing weekly, almost like article magazine
16:33
that gets delivered in the UK called the week.
16:35
Point was, one of the articles was talking about AI,
16:38
girlfriends and boyfriends and there was,
16:40
they were talking to different people about how integrated
16:45
and how obsessed people were with their AI partners
16:49
and there was this guy on there that was talking about
16:52
how he's in a relationship with this woman,
16:54
who's AI and how they're wanting to adopt kids
16:59
and raise a family together
17:01
and he was quite seriously saying,
17:03
I realized that our kids will,
17:04
you know, their mother's gonna be a bit different
17:06
to other mothers, you know, and they'll realize that eventually.
17:09
I was like, I'm sorry, are they being, is he?
17:13
And then there's all these other women who are,
17:15
and men who are totally normal, very educated
17:18
and great roles, who have these AI partners
17:20
and they talk about, they're just so genuinely in love
17:23
and I just was sitting there thinking,
17:25
I can't believe that this is happening
17:27
and I had no idea and I feel like there's so many spaces
17:30
like that that's moving so quickly.
17:32
Do you think if you get everything that you need
17:34
out of a computer, out of AI emotionally and everything?
17:39
I mean, sexually, don't know how that works,
17:41
but you know what I mean?
17:42
Then it's, look, all our sales have freaked me out
17:44
and I thought, what is my USP as a partner?
17:47
What am I bringing to the table?
17:49
I've got a way, you're gonna have like,
17:50
oh, we're gonna be competing not only
17:51
as everyone on the dating app, but also every fictional AI.
17:54
You're gonna have like, you can design how they respond
17:58
to this, it's a humor, what they look like,
17:59
they're sexual preferences.
18:01
I mean, I think it's good for countries
18:03
that are really battling loneliness.
18:05
I think that is.
18:07
But is it, to then be in a relationship
18:09
with an AI person?
18:11
This is a whole can of us.
18:12
This is a whole can of us.
18:13
But one thing that did speak about was the chip crisis
18:16
and that is becoming a really big thing right now.
18:21
So we've had some news out, like we had the cost of living
18:23
crisis and now I've got a chip crisis.
18:26
Like can we just go, are we well without some crises?
18:29
Yeah, yeah, yeah, yeah.
18:29
Can everyone just panic or crises?
18:31
Pricy, some crisis happening.
18:34
Someone said to me that Kiwi, that there's no Kiwis.
18:36
Would you want the fruit or that animal?
18:38
New Zealanders?
18:39
Oh yeah.
18:39
Kiwi, like if you're talking about multiple people,
18:42
there's multiple Kiwi.
18:44
No, it's not.
18:44
It's Kiwis.
18:45
Yeah, that's what.
18:46
Anyway, I was like, it's like sheep.
18:49
No, it's the opposite sheep.
18:50
Shapes, shapes.
18:51
No, it's like, no, it's like saying,
18:53
it's like so many Kiwi around.
18:55
No, no, no, no, the fruit.
18:56
Oh god.
18:57
Yeah.
18:58
But yes, what Net was saying is like the amount of chips
19:03
that we now need, like prices of chips have gone up
19:07
75% last month.
19:10
People are really struggling to get their hands
19:12
on these chips to support the AI demand.
19:16
And that means we're going to see higher prices for phones,
19:20
laptops, TVs, even cars that use AI now.
19:24
But this is not with anything right.
19:26
When there is limited supply and massive demand,
19:29
prices rise.
19:30
And this is exactly what we're saying.
19:31
And video can't make chips fast enough.
19:34
And he runs demanding theirs because he's the most powerful.
19:36
That's why we announced a few, it was the last month,
19:40
a few months ago, all these companies like Meta
19:43
and OpenAI that are trying to secure chips
19:47
because they can see the demand and supply and balance
19:52
and how prices have gone up 75% in a month.
19:54
And so do you think that's why a lot of companies
19:56
want to put these big long-term contracts in place
19:59
because they know high demand equals more expensive?
20:03
So if they can lock something in at a price now,
20:07
it means that they're not then scrambling
20:09
and having to pay more because it's like,
20:10
it's like if you were a t-shirt manufacturer
20:12
and you knew that everybody was wanting
20:15
to wear t-shirts right now.
20:17
Yet the cotton that goes into the t-shirts,
20:19
the premium cotton that everyone wants is going to run out
20:23
or you can only produce certain amount for like 50 t-shirts
20:27
and you needed 200.
20:29
So you're like, gosh, okay, I need to secure that full 50.
20:32
So at least I can make 50 t-shirts.
20:36
Because otherwise if someone else secures their 50,
20:37
I'm making zero t-shirts.
20:39
Do you know what I mean?
20:40
It's like how do you secure that supply
20:44
so that then you can be confident in your revenue growth
20:47
and your demand.
20:49
And it also helps like in video,
20:51
so if open AI is like, look, we want billions
20:54
and billions of dollars of chips
20:55
and we prepared to secure that from you,
20:58
that allows Nvidia to go and build manufacturing facilities
21:01
that they can then increase the number of chips
21:03
and all they do, co-investments with open AI to be like,
21:06
look, if you can say to us that you're going to buy
21:10
X number of chips from us,
21:12
that de-risk's building a whole new manufacturing facility,
21:15
particularly if you're going to pay for some of it.
21:17
So do you know what I mean?
21:18
It's kind of like, I'll help you if you help me kind of thing.
21:21
But it is also, it's quite clever
21:23
because I remember thinking when all those contracts came out
21:26
around Nvidia and then agreeing to a three year,
21:30
whatever it was, there was something a few months ago.
21:33
And at the time, I remember,
21:34
I think, God, that's quite risky to invest for,
21:36
you know, to get into a contract for such a long period
21:38
of time for so many chips.
21:40
But actually, understanding what you just said,
21:43
there was this huge penny drop moment for me
21:45
where it's actually businesses being really clever
21:50
because they've got the foresight of supply demand
21:54
when there's lots of demand and not enough supply.
21:57
Prices get more.
21:58
And so if they can lock something in a lesser amount,
22:01
it's actually clever from their side
22:03
because they can see what's going to happen to the industry.
22:05
And they are probably seeing demand that is,
22:08
I don't know, say $100 billion worth.
22:12
And they're only securing like $50 billion.
22:15
So there is still that buffer that if demand
22:17
didn't actually come to fruition at that full $100 billion,
22:20
they haven't committed, they don't over commit
22:22
on the demand that they're seeing, if that makes sense.
22:24
And but that's what he runs fearing is like,
22:26
okay, have these companies like OpenAI and Meta and Google
22:32
and is what they're seeing true demand
22:34
or are they inflation overestimating it?
22:37
And then what's actually going to come to fruition is less.
22:39
Then they're locked into these contracts.
22:41
You've got there's 100 new bonds.
22:42
You've got like all of this stuff
22:43
because you thought demand would continue
22:45
and extrapolate and get bigger and bigger and bigger.
22:49
And that's what the market's fearing.
22:50
And the market is actually the last week
22:53
has actually had a bit of a wobble, which is fine.
22:57
But everyone's like, oh my God,
22:59
everyone loves it when the market's lost, the drama.
23:02
I loved the drama.
23:03
The news headlines love it.
23:05
But it's similar to the idea of floating
23:08
or a fixed mortgage rate.
23:09
You don't know what's going to happen.
23:11
You can choose to lock something in and say,
23:13
oh, I think 3%'s great.
23:15
But it could drop below that or it could go way higher
23:18
and you're kind of taking gamble.
23:19
And that's business, right?
23:20
Nobody knows what's going to happen around the corner.
23:22
We could have an atomic meteor hit the world
23:27
and then half populations wiped
23:30
and half the demand for AI's, why aren't we?
23:32
Yeah, yeah, yeah.
23:33
And you just never know this.
23:34
Yeah, but that's why who runs a business is so important.
23:37
If you're investing, you've got a founderly business
23:40
or like you've got a CEO who's been there
23:42
for a very, very long time, like Nvidia.
23:45
So he's the founder, but he's got Nvidia
23:47
that's gone through these cycles, you know?
23:50
And he kind of knows and has weathered them
23:52
and can steer the ship in a really sustainable way.
23:58
But it's so ancient.
23:59
Imagine a ship, imagine a storm.
24:01
Yes, he's trying to get through it.
24:03
Go over the way.
24:04
Oh, we make it to the island.
24:06
But yeah, we are seeing a bit of a wobble in the market.
24:08
It's like the tech names are off kind of like four
24:10
to 7% by off I mean down.
24:12
Yeah.
24:13
I'm not off like used by days.
24:14
Yeah.
24:15
I'm fired.
24:17
So basically the has the whole market fallen this year.
24:22
Oh, sorry, that last week.
24:23
Yes, yes, by how much about 2%.
24:25
Yes.
24:26
So it's not a big move, but it's just like when we've seen
24:29
it got up and up and up and up and up.
24:31
It's like, oh, it's down, you know, but it's healthy.
24:34
It's it's healthy and we need to remember that.
24:35
And if, you know, if the podcast next week,
24:38
we're saying it's fallen, you know, another, another
24:41
couple of percent and then it starts getting, you know,
24:43
people are saying, oh, it was just a start of a big correction
24:46
or whatever it's like, if it is, it is, you know,
24:48
and I think we've had a really, really great run.
24:52
I'm not calling a stock market fall.
24:54
I am not, I'm just saying that, yeah, these companies have done
24:57
fantastically well, particularly the tech companies
25:00
and a little breathers, healthy.
25:02
Yeah.
25:03
And I think it's also worth just saying
25:05
if you're opening your portfolio,
25:06
but you're looking at your investments and it looks a bit
25:09
worse than it did, that's why.
25:11
Because it doesn't necessarily mean that things you've
25:13
invested in are all of a sudden doing badly.
25:16
It could just be, they're actually just following the market
25:18
and have gone down a bit.
25:19
Yeah.
25:20
And it's interesting what kind of cause this little sell-off
25:26
is yes, the AI, sorry, the chip demand.
25:29
But that's kind of been going on for a while.
25:30
But it's also this realization that investors are worrying
25:34
about this huge AI spend not paying off
25:37
and that industries like software, legal, and consulting,
25:43
it's going to start what they're calling this AI cannibalization.
25:47
So what was previously thought of,
25:50
we kind of spoke about being more efficient in your role,
25:53
but then that gets to a point where it actually,
25:55
these legal and consulting in particular
25:59
charge so much for their fees, you know, like insane.
26:02
And shocked how much lawyers charge.
26:07
I don't mean this.
26:08
I know that it's like hard to get the degree.
26:10
I'm not trying to poo poo the career
26:13
or how much intelligence it takes.
26:14
It just blows my mind that someone could say,
26:17
it's going to cost you 20 grand to look at these documents.
26:20
You're like, what?
26:22
But yes, so it's like, okay, well, these industries
26:24
are actually not going to have to charge as much
26:26
if they're not doing majority of the work or if there's
26:30
like AI is now doing it much more efficiently
26:33
and effectively cannibalizing them.
26:34
And it's like, if AI does the job, it's like,
26:37
okay, well, why are we still paying lawyers and consultants
26:41
in the same way if AI is just doing the job?
26:44
As long as they're going to be valued less.
26:46
And so that's why a lot of these software,
26:48
legal and consulting companies that are publicly listed,
26:52
the issue prices are falling a lot,
26:53
because people are like, hang on a second.
26:55
We thought AI can make you more efficient,
26:57
but hang on, it's actually means that now you're going to charge less.
26:59
I don't know how this will play out,
27:01
but it's just when you invest in a company,
27:04
you're looking at, okay, will that company be able to grow
27:07
and be more and grow their revenue and their profits
27:11
in the future?
27:12
And now people are thinking, okay, yes,
27:14
but there's now these sectors that are valued less.
27:17
That might actually be disrupted by AI a lot more
27:21
than we had originally thought.
27:22
So yeah, that's so interesting.
27:25
Because there's a few massive companies like AI,
27:28
legal companies like Harvey, et cetera,
27:31
which are doing really cool things.
27:33
I imagine that they will be at the forefront of new legal,
27:39
the new legal approach,
27:40
because they're massively adopting AI.
27:43
I would say the more ancient or old school law firms
27:47
that are listed, are they listed?
27:48
Are there even that many?
27:49
It's even like finance companies, right?
27:51
Like financial advisors.
27:53
You pay them a couple of grand.
27:55
I don't know how to kind of depends on,
27:57
you know, they all have different models,
27:58
but you pay them for their financial expertise.
28:01
And part of that is like putting a plan together
28:05
and all of that about your financial future.
28:07
And there'd be a lot of people listening to this,
28:10
I reckon that would probably disagree.
28:12
A lot of lawyers, a lot of financial advisors,
28:14
it probably disagree.
28:15
But this is just what's going on in the market
28:17
and why it's kind of selling off.
28:18
Because there is this fear of this like AI cannibalization
28:21
of, yeah.
28:22
But it's also not just those industries.
28:24
I mean, we could sit here and list a billion of them.
28:26
There's probably most people,
28:28
and this is what we're spoken about for ages,
28:29
the idea of people feeling fearful
28:32
that they're going to be losing their job.
28:33
But I guess it's not so much,
28:34
it's not just as simple as you may lose your job.
28:38
It's more, how can you make yourself
28:41
as valuable as possible with your current environment?
28:43
It's not to say your skills aren't valuable
28:45
as a financial advisor or as a lawyer.
28:47
But are you able to employ technology
28:50
to enhance your performance,
28:52
rather than rely on the traditional ways
28:54
you've perhaps made money before?
28:56
I think it's the new way to think about it.
28:58
And it's all going to be around human connection
29:01
and having that personal approach
29:04
with whoever it is, your lawyer, your financial advisor,
29:07
your consultant, all of that,
29:09
it's going to be around the relationship side of things.
29:11
I can't remember who said this to me,
29:13
but someone said once, there's been iPads and restaurants
29:18
for 10 years, there's still waitresses, waiters.
29:23
There is a place for human connection.
29:25
And so that hasn't replaced the role of waiters,
29:28
because we love the interaction
29:30
of going to a restaurant and feeling like you can go just
29:32
high-end restaurants are going to charge more
29:34
to have that human waiter or waitress.
29:37
And then all you can have an alternative
29:39
where you actually use an iPad or QR code
29:43
and the food's only bought out by a waiter or waitress,
29:46
but you've done interact.
29:47
And there's different levels of service.
29:48
And maybe that's what will happen with,
29:51
in the legal finance spaces,
29:54
like you will get different tiers of service.
29:57
But anyway, this is why the market has started
29:58
to fall a little bit,
30:01
but I just want to put this in perspective.
30:02
And you know what, when the market fell in April last year,
30:06
I was so stoked and proud of our audience,
30:10
of our community, because no one panicked.
30:12
We didn't get flooded with DMs going,
30:14
oh my goodness, should I pull out my money?
30:17
Should I at least, it was just so great.
30:20
And if the market does fall,
30:23
I want the next step for everyone to be like,
30:25
what should I buy?
30:26
You know, we've learned not to panic.
30:28
Yeah, next step is stocks are on sale,
30:32
let's jump in.
30:33
Yeah, we're are shopping there.
30:34
Yeah.
30:35
We've got an update on Netflix,
30:37
Warner Brothers Paramount.
30:39
What's been happening?
30:40
I feel like this is my own little Netflix story.
30:42
Every time you hear new headline,
30:43
I'm like, could you give me like an ABC,
30:45
like an August what happened?
30:47
A delivery cap.
30:48
I don't know, we do this every time,
30:49
so I'll keep it really, really short.
30:51
But for me, but Warner Brothers Netflix
30:54
came in wanting to buy it.
30:55
Paramount was like, hang on a second,
30:56
no, we want to buy it too.
30:58
Warner Brothers is like, no, we want to go with Netflix.
31:00
Paramount said that's unfair.
31:01
What do you think's happened now?
31:02
A, the deal's done between Warner Brothers and Netflix?
31:05
Yeah.
31:06
B, they've just started talking again to Paramount.
31:11
C, Paramount's pulled out.
31:13
The third, because it's so wild.
31:14
No, it's a second.
31:15
I tried to make it exciting, but I couldn't.
31:17
It was the truth.
31:18
Yeah.
31:19
So basically, they're starting short to Paramount again.
31:23
Warner Brothers has reopened chats with Paramount.
31:25
Stop.
31:26
How annoyed would you be if you were Netflix?
31:27
Yeah.
31:28
You'd be like, stop.
31:29
Stop flirting with the other person.
31:31
Well, it was nearly a done deal with Netflix,
31:33
and now you've got this other annoying little pesky human.
31:37
I'm just so confused why Paramount is still getting a lock-in.
31:40
Yeah.
31:41
Or maybe last week we spoke about how they were going to pay
31:43
the breakout fee or the, you know,
31:45
if you don't go with Netflix, there's a $2 billion fee
31:48
that has to be paid, and we will cover that if you come with us.
31:52
So that probably was a bit of a like, oh, well, now we can entertain both.
31:55
There's no, you know, we don't have to, we're not going to have to pay a fee
31:58
if we stop talking to Netflix and, yeah, so.
32:00
And it's been leaked that Paramount is going to possibly increase its bid.
32:04
Is that $30 a year?
32:05
I don't mind.
32:06
I increase it to $31.
32:07
I know it's only $1, but it really moves the needle for these negotiations.
32:12
And yeah, they've got...
32:13
They've got unsettling working at any of these three businesses right now.
32:16
They've got seven days to get back to Paramount.
32:20
No.
32:21
It would be, drop everything, all personal life commitments, all...
32:25
No, sleep.
32:26
That you would literally be in a boardroom for seven days to turn a nut this out.
32:29
Kind of fun to be a part of.
32:30
Totally.
32:31
I'm like, one day we'll be negotiating some huge deal.
32:35
I know.
32:36
Like sleeping in the boardroom.
32:37
You want two billion?
32:38
Yeah.
32:39
Well, excuse me.
32:40
I'm just going to take a minute.
32:41
Come back in, like, quite fun.
32:42
I'll go for 2.3.
32:43
I know.
32:44
Like, just like...
32:45
Also, if anyone is an expert in the media space, or perhaps, you know, has some kind of
32:51
interesting insight on what's going on, or they might not even say, no, someone will
32:55
use voice disguise.
32:56
Yeah.
32:57
When they do that in like 60 minutes, can we please do this?
32:59
We will keep you completely anonymous, we'd love any insights.
33:03
Also, I'd love to know what it's like.
33:05
Work.
33:06
Is it just business as usual?
33:08
Oh my God.
33:09
Corner brothers must, they must be like, well, do I leave?
33:11
Do I stay?
33:12
I don't want to work for Paramount, but I want it for Netflix, you know, like how would
33:15
you even...
33:16
Hmm.
33:17
Because remember Paramount's owned by the Allison family, which is the Oracle Founder Leryles,
33:22
and anyway, they're very, very close to Trump.
33:25
That's right.
33:26
So, if I was Warner Brothers, or more than Warner Brothers employee, you're executive.
33:29
I would not be wanting to end up going to be buying me.
33:32
Followed up soon by Paramount.
33:33
Bye.
33:34
Off I go.
33:35
So interesting.
33:36
I mean, I am so team Netflix.
33:38
Are you?
33:39
Yeah, I just love Netflix.
33:41
Same.
33:42
Okay, let's move on.
33:44
There has been a study out in Australia.
33:46
That shows that 50% of Gen Z women don't know where their superannuation is.
33:51
Should we do a little taking to the streets?
33:54
That would be quite interesting.
33:55
Yeah.
33:56
I'd love to know what percentage of our audience doesn't know where they're super,
34:01
they're key we say, they're their pensioners.
34:02
I mean, I have hopes.
34:03
I have hopes for our community.
34:05
Okay, so anyone listening, because this is your retirement fund, you can be anywhere
34:10
in the world.
34:11
This is your full one.
34:12
Okay, if you're in the US, this is your pension, if you're in the UK.
34:14
So we'll call it retirement fund in the poll.
34:17
Can you vote?
34:18
And no shame here, genuinely, like if you don't know, it's exactly, no one's going to
34:23
ever know, do you know where yours is, vote yes or no?
34:28
And comment if you have any thoughts on this, because I personally didn't even know
34:33
where my pension was investing for years, I opted out, I mean, honestly, it's so normal
34:40
to not know, but 54% did I just have 4% of GST?
34:45
Yeah, you just had a 4% GST.
34:47
You loved it.
34:48
I loved it.
34:49
Point is, that's a shitload of people.
34:50
Yeah.
34:51
And also, the scary thing with that is the shifting to a higher growth option, they've done
34:58
the calculations with the study in Australia, could add a million dollars to a 30 year
35:03
old's retirement balance.
35:05
So these people are missing out on effectively a million dollars without any extra contributions.
35:12
So like most of, and in New Zealand, like when you don't put your retirement money into,
35:21
you know, you don't actively choose where to put it.
35:23
It's put in what we call a default fund.
35:25
And there is 300,000 people in New Zealand and default funds.
35:28
So that is 300,000 people that probably have no idea what they're getting in terms of
35:33
return, no idea where their money is invested, no idea where their, you know, and it's so
35:38
concerning, because more often than not, it's in a low growth fund, because you haven't
35:43
chosen anything else.
35:45
So they, you know, the government, they can't choose where to put it for you.
35:48
It's better for them in other parts of the world.
35:49
Yeah, it's basically around the world.
35:51
Yeah, it's put into, I mean, it's not the same structures, but.
35:54
Essentially, the concepts are same as you make the choice for you.
35:57
Yeah, you know, if you have it, and that's a whole not the conversation in the first
36:00
places.
36:01
I do think we, there's an education piece that we could do around helping to narrow down
36:07
the, the products that are available, because it is, there's a lot on the market.
36:12
It's really overwhelming.
36:13
It's so hard to know what is best for you.
36:16
And there's actually, there's so many providers in every region as in like every country.
36:22
Yeah.
36:23
And this is a really important space that we need to help with, because also returns
36:27
are so important, values is important for people, low fees is important for people.
36:32
There's lots of different things that people look for when it comes to the kiwi safer, but
36:36
just not knowing and not making a decision is so disempowering and also really damaging.
36:42
Yeah.
36:43
The number of people that I've spoken to that are like, I don't know where it is or I know
36:47
I've been meaning to change it for like the last few years.
36:50
I'm like, that is literally like money you're throwing away.
36:53
I'm, I just, it baffles me that this is not top priority for people, and I don't know
36:58
how to make it be like it's, if everyone listening just sat down for half an hour, they
37:04
could find out where it is, see what it's returning.
37:08
And if you have more than 10 years until you retire, which most people listen to this
37:14
podcast will, you should be in a high returning high growth retirement fund.
37:20
We've really got some Australian focus news here.
37:29
Yeah.
37:30
Kind of have for it.
37:31
I know about different countries.
37:32
I mean, it is relevant for most places around the world to be honest, but Coles, which
37:36
is one of the biggest supermarket chains in Australia, so you've got Coles and Mollies,
37:41
so Coles and Mollworths, that is Australian.
37:46
Anyway, Coles and Mollies, two supermarket chains in Australia, they own, they have 70%
37:52
market share.
37:54
And if we compare it to New Zealand, we have gotten even worse situation when it comes
38:00
to supermarkets.
38:01
We have foodstuffs and Mollworths, which own 90% market share here.
38:06
Whoa.
38:07
This is what we call a duopoly, which has been two companies control the market.
38:11
And therefore they can, we use allowed small farmers, suppliers, because there's nowhere
38:18
else to go.
38:19
You just had an absolute brand like this, that why the New Zealand grocery prices are
38:24
exorbitantly expensive?
38:26
It's that, and also that we export so much, but, and we get higher prices for like butter
38:32
overseas, so it's like, well, okay, well, why, but yes, it's kind of, if I created a
38:39
breed company and wanted to sell my breed, I've got foodstuffs and Mollworths that controls
38:45
90% of distribution, and yeah, so Australia, it's still 70%, so it's still quite bad.
38:51
In the UK, there is so many supermarkets, like Tesco, Sainsbury's, L.D., Esde, Isle
38:59
Troves, Isle and Samaritan, yeah, there's so many.
39:03
And the biggest one, Tesco.
39:04
Wow, there's a lot, which is great, right?
39:07
It means the grocery prices are, you've got a cost living prices, but, grocery prices
39:11
are lower, and you've got different ranges, right?
39:15
You've got the Tesco and Sainsbury, you've got the weight troves, maxi-spenses, you've
39:18
got, which means that people can shop based on what they can afford to, and Tesco only
39:24
has 30% markets here, like that's the biggest, so like, if you think there's just so many
39:29
in the UK, anyway, Coles has been fined for hiking prices and then discounting them.
39:35
Isn't it the biggest no-no?
39:37
I know, and I'm like, you are one of the biggest retailers, and the supermarkets in Australia
39:43
and New Zealand in particular, under the microscope, so much, like all day, even, they must
39:47
just have someone inside there just batting away all of these lawsuits, all of these kind
39:52
of disagreements, frustrations, and when they come out with their financial results
39:57
and they've made billions, it's, you know, everyone's up in arms, like it must just be,
40:03
like their CEOs get dragged through the mud in terms of the amounts they're being paid,
40:07
like they're getting paid millions of dollars, yet people can't afford to put food on the
40:11
table, like it's, it's a whole thing, and, but it's, I just wanted to highlight this
40:16
because it's really important, even when it comes to things like Black Friday sales or
40:20
boxing day sale, any sale, it's just making sure that is the discount and actually a discount,
40:27
have the prices been put up to just be put down?
40:30
It's so shit that we have to use our brains, I know, it's so unfair as a consumer to
40:35
feel like you're constantly needing to have your wits about you, because you're going to be
40:39
taken advantage of. I hate that. I know, and I think it's, I think it's, it's being a conscious
40:43
shocker and being like, okay, what do I want? If you need a new TV for your house, for example,
40:48
it's like doing your research, having your eye on it, saving up to, so that you can afford that,
40:54
and just not, I guess, being reactive to a sale, I need this, and I'm going to do my research
41:00
and get the best deal or like, or I'm going to wait for a big sale, like a boxing day sale or
41:05
Black Friday sale, but I know going into what I want and I know what the prices were leading up to
41:09
that, so I'm not going to fall for this discount. That is honestly, I think that's so shady.
41:15
It's even things in supermarkets I've noticed here in New Zealand, and actually in the likes of
41:19
Tesco is they highlight the member price, like they make that bigger and like in yellow or red,
41:26
and that's actually, you think that's the price. If you're just like casually going down the
41:29
aisles and you're picking up the butter and the bread and you're like, oh, cool, it's only seven dollars,
41:33
only eight, you know, and then you get to the till and I'm like, hang on, and it's like the member
41:37
price is that, and then the actual price is like what, anyway, so it's all marketing, and I think
41:43
it's just being conscious consumer. It's hard, but it's also can save you a lot of money, right?
41:47
And that's why people like support local, you know? Yeah, I meet from the local butcher,
41:52
if you can afford it, you know, buy, buy fruit and veg from the local market.
41:56
Because there's 10% hanging on by three years. And I would just love even a third
42:03
supermarket chain to come in and just take a bit of market share, but we're such a small country,
42:08
and we'll probably, at that point, we never happen. If everyone is inside a business, that's a
42:11
stunning business idea. Would you have a little bonus item before we get into some of the community
42:16
questions? Yeah, this is really quick, is that we are seeing a movement in Europe and US,
42:24
where women are increasingly rejecting the whole girl boss, you know, we can do it all like
42:30
mentality, the hustle culture, and they're embracing this burnout feminism, which is love it,
42:37
which is all around rest over constant work, prioritising boundaries like all of that.
42:43
So I am so impressed at how good you've gotten at this, honestly. Even yesterday we had,
42:49
that had two events, and we were meant to have a podcast record, and she messaged me, being like,
42:54
sorry, I'm not, I don't know, I'm not going to be able to do it. And I thought I need to do that
42:58
more. It's really impressive. I headed into that second event, and I was, I had a headache,
43:03
and I was like, it's not good. All really feeling like, come on, beyond beyond. And then the thought of
43:08
these three, I was just like, I was like, why, why are we so draining? Yeah, it's awesome.
43:14
Yeah, but in a good way, like I think because, I mean, these after-edems are, we'll be pooped.
43:19
We need a week on read, bed rest, but I love this. So this is this idea that we're trying to
43:26
shift the mindset towards it's not cool to be burnt out. No, it's not cool to be like, I'm a
43:31
girl boss, I'm doing it all, I'm like hustling, it's like, no, no, we don't need to. We're not
43:36
overperforming. Yeah, yeah, it's like there is power and setting boundaries and prioritising rest
43:43
over just like constantly hustling and saying yes to everything. So what was the stat that you've
43:49
put in there? Oh, this was just another little headline is that City Group, which is a large
43:55
investment bank in the US, their CEO, Jane Fraser. She's one of the only female CEOs in S&P 500.
44:03
There's only 500 companies, there's less than 50 that are female CEOs. Was there meant to be some
44:10
kind of uplifting connection to burnt out females? No, this is just another headline about woman.
44:15
Anyway, she's getting paid $42 million. Wow. Yeah, their share price has gone crazy and she
44:21
is now one of the best paid CEOs in the S&P 500. Oh, that's so cool. Go, Jane. Go, Jane. But then I
44:28
was looking at the NZX50, which is the main index in New Zealand. There is six women CEOs out of 50
44:36
out of 50. And in Australia, out of the ASX200, so there top 200 companies, there's 19. Do you say
44:42
19? It's about 10%. Yeah, one nine. It's about 10% on all those main indexes of women. And yeah,
44:48
we're 50% of the population. I do think there's something around that we need to unpack with
44:53
us more about we just talked about the idea of burnt out feminism. I think it would be impossible
45:00
to be the CEO of a listed company. Maybe this isn't true, but this is my perception is that I
45:07
cannot imagine having three kids and being the CEO of how does that work? It's all around the
45:13
invisible workload needs to be shifted as well. The invisible workload is not invisible
45:21
when you're a CEO of a top 500 company in the US. One thing I actually have been thinking for a
45:27
while though, because I remember talking about this with someone. And I actually think it was a
45:31
guy that I was talking to about it. And I was giving the stat around this. At one point, there's
45:36
more marks as CEOs in the S&P 500 than there were women. And he was saying to me, I wonder if
45:44
women want to be in that position? Do they want that kind of stress? Do they want bullshit?
45:49
No, no, no, I'm not saying it's right. But I was like, if you think there's not the support.
45:55
So you don't think it's that you think it's like the culture of a city group, a Goldman Sachs,
46:00
a more consent, like all of those investment banks is relentless work hours. And if you don't stay
46:06
and you don't hustle and you don't work all hours of the night, you don't make it to the top.
46:12
And there is just not the support. The reason the majority of it is men is that because
46:18
women are at home looking after the children in most cases. And so until we can flip that script
46:24
and I have a more supportive workplace in the finance industry, but also have partners that are
46:32
willing to step up and be a bit more 50-50 with the invisible workload at home.
46:38
Of course, that by default is going to fall on woman. And it's the fall on woman.
46:43
And therefore, you're right, we can't. We can't be CEOs of multi-billion dollar businesses.
46:49
And then expect to come home and then look after kids and make sure the house is clean and the
46:54
laundry is done and you know, if we're getting really like it's a fall. It's not the idea that
46:58
women aren't allergic to or don't want that kind of stress responsibility. It's that when
47:04
men are in those roles, they have a huge amount of support to make a habit and to be able to focus
47:07
on that. And because we don't have it, a lot of us shy away from trying to ever achieve that
47:12
because how could we do that? Yeah, women lead businesses. So when you have a public
47:18
company that is run by it, female CEO or female founder, those companies outperform the S&P 500.
47:24
So why is there not more women in those roles when we know they are performed, we know they're
47:30
better leaders, they lead to better results. And I think them you saying that they don't want
47:37
or your friends saying they don't want to be there is not the answer. It's there the system and the
47:44
the structure within those businesses or industries is not set up for that. And outside the
47:48
business. And outside. Because it's not just it's not just the way the business runs. It's
47:53
yeah, it's the childcare, it's the relationship dynamics, etc. I'll send that to my friend,
47:57
to have a listen to her. Okay, we've got someone that's okay. Clear. Oh, hotline. Shit, yeah,
48:04
okay, I'm going to play this. Hello, curve hotline. Firstly, I really admire the work that both
48:11
of you do and all the content you put out is incredible. My question is kind of a follow-up from
48:18
last week's question about different platforms for investing. I have some different holdings
48:25
with three different platforms. And now I'm like, how do I keep track of these all? I was wondering if
48:34
you know of any like whether there's an app that you can kind of plug things into. There was also
48:40
a previous episode where that was talking about, you know, if one of your holdings increases
48:45
in value, you want to keep it to the same proportion of what you wanted it. I'm just kind of trying
48:51
to figure out how to keep an eye on everything, I guess. Hopefully in one place. Let me know if you
48:57
have any thoughts. Thanks. Great question. I don't know any app that kind of consolidates all
49:04
trading platform, but there's a business opportunity for you. Yeah. Yeah, if you have lots of
49:09
different trading platforms because the company you want to own isn't on there. So you're like,
49:13
cool, I'm going to use another one. And that might have the company that you want to purchase. I can
49:18
get that. But if you're just buying different stocks and different platforms, just because,
49:25
it's kind of like a bit, yeah, if you can have all one place to make your life easier, I don't know
49:30
a app that does consolidate them all. You might have to do your own little spreadsheet. What about the
49:35
piece where she mentioned, how do I keep the proportions the same? Because I think that's a really
49:39
good question. I think that will have to, you'll have to do that now. Yeah. And just see, okay,
49:44
cool. I've got $10,000 over here invested in maybe some US companies. I've got $10,000
49:53
over here in some European companies and $10,000 over here in Australian New Zealand companies.
49:59
And if the US continues to do really, really, really, really well, that $10,000 is now $30,000.
50:05
And the others have fallen and they're now $5,000 and $5,000. So it's more just being aware,
50:10
like, okay, now you've got a different portfolio than what you thought you had because you've got far
50:15
less in these two regions than you do in the US. And if you're okay with that, that's fine. If you
50:20
want to kind of rebalance as we call it, you'd sell some of your US and you put them into
50:25
it. Got it. Yeah. And that happens at a stock level as well. Even if you're just on one trading
50:29
platform, you could see that something might get skewed. Yeah, it's a way out of proportion for
50:35
the other thing might have gone backwards and be quite small, but you still have, you know,
50:40
I think it's going to do well. So you want to put more money in like all of that. So yeah.
50:43
That's such a great question. And I'd say love that it was a follow-on from last week.
50:46
Yeah. Maybe this will become a theme. And everyone will, anyone that has voice notes, please send them
50:51
out so much. Such a beautiful voice as well. Yeah. And then we've got one message from Preta.
50:56
Hi, Vic and Sov. I love your podcast. I wonder if people think we make that up.
50:59
No. And I think you guys are both really cool and I love Vic's top last week.
51:05
I had a request slash question, please. And wondered if it's something that you'd cover in a
51:10
podcast or if you can respond when possible. I've recently started investing monthly dollar
51:15
cost averaging. God, that's amazing. That just basically means an amount every month. So like
51:20
auto investing kind of into a couple of different ETFs and a couple of individual stocks.
51:25
I've noticed on the rare occasions when I check my portfolio that my overall return
51:30
percentage shows as negative even though that all of my investor returns are positive percents.
51:37
Upon looking closely, I see that it's due to the unrealized currency losses.
51:42
Should I be worried about this? My strategy is long term investing. Can I say there are so
51:47
many green flags in that message? So many. Firstly, dollar cost averaging, stunning.
51:54
Secondly, ETFs very diversified, amazing. And also some stock picks. Have fun.
52:00
Then the fact that she's really looking at her portfolio and that she's saying my strategy is
52:05
long term. So many tests. I've noticed this before too, actually, and I've never known what's
52:11
going on where I'm like, why if I look at my individual returns of what I've invested and are
52:16
they positive, but then yeah, what is that? So this is when most of us will invest in the US
52:23
stock market because it's companies we know it's the most liquid. There's got the most choice,
52:29
all of that. And when we invest in the US, we're investing in US dollars yet our portfolios
52:35
are in New Zealand dollars. So there is currency movements that we have to be aware of. So yes,
52:41
even if Amazon's gone up 2% and say, well, say your whole portfolio has gone up 2%,
52:46
yeah, but the currency has fallen 5%. Your overall return is negative 3 because you've
52:53
got the movements in the currency. There's no way around it unless you invest in New Zealand stocks
53:00
with New Zealand dollars or US dollars, you know, you've got a US dollar portfolio and you're
53:06
investing in US stocks, but most of us will invest globally. So it's kind of, it's just,
53:11
it's part and parcel of investing. You can try currency hedging and all of that if you wanted,
53:15
but I'm just like too hard to ask it. Wow, that's great. It's in flows. It can work the other
53:21
way as well though. It can magnify your returns because your portfolio might go up 2% and then
53:27
the currency moves 5% and your return is not even. So it does even flow and there's kind of not
53:33
much you can do about it really. It is frustrating, but yeah, sorry.
53:39
No, no, I think, I mean, it really looks like great that she's noticing it and she's like,
53:43
hang on a sec, and why is that not the same as that? Oh, yeah. Such a smart idea.
53:50
Thank you so much. I loved this episode of amazing research and for anyone that wants to either
53:57
write the show, you can do that wherever you're listening, I think that one of the new stories we
54:01
didn't get a chance to get to is that Apple's now having video so you can watch this podcast soon.
54:06
I think on Apple, if you want to watch it on YouTube, you can. There's links in the podcast show notes
54:12
and for anyone that missed it last Friday, our first episode of our brand new podcast series
54:17
dropped, which is IOU. And this is IOU and brackets, some money education and that's for beginners.
54:23
So if you like IOU, some money education. Thank you. You didn't give it to me when I needed it.
54:30
Now IOU. Anyway, just came out last week and we've got a practical, sort of like a pod, pod,
54:36
pod, a pod class that you can listen to or watch. And yeah, the first episode is dropped.
54:42
It's got Lucy Blackson from She Should Care About. She's awesome. And yeah, we hope you love it.
54:47
There's some fun branding that we've put out. And yeah, if you know anyone that's a beginner,
54:52
or perhaps you've listened to this episode and thought, shit, I'm kind of actually need to probably
54:56
upskill on some of the basics. It's a really good place to start. So you can find that everywhere,
55:01
we're talking about it everywhere. And we'll see you next week. Have a great week, everyone.
55:26
These are our in-depth podcast episodes. We'll chat about all things money.
55:29
We're also around all week on socials. If you're hungry for more
55:32
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55:36
and we'll catch you for the next episode of the Curve Weekly on Monday.
55:47
Okay, quickly, the curve was created to empower and educate you about investing,
55:50
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55:55
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56:02
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56:07
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