Latest / The Curve / TCW98: S&P rockets, women’s wealth boom & Taylor Swift’s $2B finale.

Transcript

TCW98: S&P rockets, women’s wealth boom & Taylor Swift’s $2B finale. · The Curve

• 0:00
  Welcome to the Curve Weekly, the podcast that keeps you up to date with all of the money
• 0:04
  business and stock market too. Brought to you by the Curve's research team,
• 0:07
  it's the latest insights on what's happening in the stock market, companies,
• 0:11
  other money related news so that you can stay educated and ahead of the curve.
• 0:15
  You can thank us later for sounding smarter than those finance bros you need to know, honey.
• 0:20
  So, with the last Curve Weekly of the year, we are going through a bit of a stock market roundup
• 0:26
  and some expectations for the future and so for now you're getting of our predictions for
• 0:31
  the stock market. We're going to discuss a new recession kind of barometer for deciding whether
• 0:38
  the US stock market is going into a recession. We're going to talk about the huge amount of money
• 0:43
  that's going to be transferred to women over the next five years and what you can do and we're
• 0:50
  going to talk about women and AI and how not to get left behind and to use it to your advantage.
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  We're also talking about Taylor Swift at the very end. We're going to do a raising the
• 1:00
  curvy episode of what we've learned, what we've loved, a bit of a recap, which will be released
• 1:06
  this week as well. We're going to take two weeks off the podcast so there's not going to be a
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  Curve Weekly or raising the go. But before we get into that, we're just going to ramble about
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  our lives for a couple of minutes, aren't we? Yep, as per you. If you are not interested in that,
• 1:21
  you can skip through. We've put like chapters in the podcast now as you can see when we're just
• 1:25
  talking absolute garbage and you can skip through the stock market news if that's what you're
• 1:30
  here for. We've got our first party today. We do and it's raining and we're supposed to be doing
• 1:35
  an outdoor activity. Do you know what the idea that you came up with I must say in a weird way
• 1:42
  feels like something I would suggest and you would say no to? Yeah. In fact, why don't you pitch the
• 1:47
  idea to everyone listening? We're going to. It's general. Uh, Winter Wonderland. So if anyone
• 1:55
  lives in London, they all know how amazing. It's actually we've heard mixed reviews, but I think
• 2:03
  it's a must do. Also to paint the picture, it's like ferrous wheels, um, ice skating, ice bars.
• 2:09
  It's like it's one of those. Hot chocolates, donut. Yeah, yeah, it's like the classic sort of like
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  Christmas festival. Yeah. Where one of our team members sent a message last night with a screen shot
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  of a, um, of a news report that said like woman goes to hospital after being on the Winter Wonderland
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  ride. And he was, he was like, I'll be playing it safe tomorrow. Well, so suggestion was why
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  don't we do dinner in a show? I was like, well, that's real team bonding. You're not talking. Yeah.
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  So I was like, what's something? No, do you talk at dinner? I just feel like I'm
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  always the one suggesting something in your like, um, not me. Well, I wanted something that was like
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  fun, a little competitive because there's games and stuff. And I think it'll be fun. I just hope
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  it does stop raining. If it's raining, we'll just go, go to pub. Go to pub. Yeah, yeah, I had to
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  bring about 10 different layers today. Same. When you're outside in London, it's freezing. When you're
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  at least walking, it's fine. As soon as you sit or like aren't doing anything, but your body's just
• 3:10
  like, oh, you need to survive. Yes. This is our last co-weekly. Oh, yeah. Oh, geez. You can do the whole
• 3:17
  one of the years gone so fast. Yeah, it's gone so quick. You find a couple of weeks. I know,
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  I honestly, like counting down the days, I was talking to my niece yesterday and I was like,
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  it's 20 sleeps. And she was kind of like, my sister was like, she has no idea how many sleeps.
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  You know, she can't even count the 10. Seeing photos though, if the New Zealand summer kicking off,
• 3:36
  I must say everyone's like, it does look like, you know, sometimes we always go on as New Zealand
• 3:42
  as I think of like the New Zealand summer, nothing better, but sometimes we just have a total plonker
• 3:47
  that's actually really shit summer. It looks as though it's off to a good start. I know. But then
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  I'm like, you know what, we get European summer. I don't know, it just stopped me such breath. I know.
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  There is something when it even ends like in mini skirts and t-shirts and sunglasses and outside
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  and people just feel happier. I also just think we all look so much hotter. I've also forgot
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  on what my body looks like. I haven't like, I have like two seconds of being naked in the
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  shower and then I'm like, quick, quick, quick, quick, the most, even like when I get home,
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  we have a quick shower, get back into like full coverage. You never naked. Not really.
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  Right? I worked from home no to the other day. I was just like, I always walked past your house.
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  What do you mean? You can see right in. I hope you went no downstairs.
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  Can you go home? Because I feel like no one ever looks up. Yeah, really?
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  I do because I know it's a house. Oh god, sure. Okay. You know, I do, I walk around naked.
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  At the only time I've noticed people have definitely seen me naked because I've had a direct
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  stare in the eye. If I'm standing naked over the window and I open the window because they hear
• 4:45
  noise and they answer me, you're cut. It's happened twice now and I know I've realised
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  whenever I open the window I need to have clothes on. My place in Auckland was like on
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  street level in the window from maybe a dream went straight out onto the streets. Yeah, there
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  wasn't a lot of privacy. No, and I cut down this huge and I was like, oh Jesus, there's really
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  no privacy now. But then I was like, you know what, if you look up and have a gaze, go you.
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  I thought lucky you, when someone looked up the other day, we wanted to start with a bit of a
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  stock market roundup. The S&P 500, which is the top 500 companies in the US.
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  And what we refer to when we talk about the US stock market, it's up nearly 30% this year.
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  So we still have a few weeks to go to officially the end of the year.
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  But like the stock market doesn't sleep. It does kind of, doesn't it? It's got like Christmas
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  day, Boxing day, Thanksgiving. Also, it's only open to an hour so it's not? Yeah.
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  Anyway, it's up nearly 30% this year. And it's amazing. And also just to put that in context
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  for anyone who is like, okay, what does it mean? Because it was a long time there that I didn't
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  understand the whole 30% up, 30% down. From the start of the year, if you put $100 in the stock market,
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  that would now be 130 in super, super basic terms. Yeah. So you would make $30, $30 by doing
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  absolutely nothing with your money. That's quite amazing. And then obviously you multiply
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  it, multiply it by bigger, bigger numbers. Totally. Well, if you put in $10,000, that would be $3,000
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  you've made. It's amazing. So night, you could invest. I wonder what mine started. A million,
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  and you would have made 300,000. So if you had a million dollars, you could not work and just
• 6:19
  live off your profits. Imagine that. And that's essentially what we're trying to do at retirement
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  is have enough money that we can just live off the income. But it is on pace for like back to back.
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  So like year after year after year. And your growth of 20% for the first time since 1998.
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  This is the second year. It's had a 20% increase over a 20% increase. We had 2021 was really good.
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  2022 not so good. 23 was really good. And 24 was really good. So that's a good
• 6:49
  stint. Having won out of the last four years, it's like wasn't as good. But remember the stock
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  market's done 10% return on average. And we're talking 30%. That's a bumper year.
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  I reckon I reckon the percentage is going to go up. I think the next year, what do you, should we take
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  bets? Yeah, yeah. I think that the average is going to be increased. You've got three out of the
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  four last years over 20%. Then that does start moving the average up. 10% kind of actually
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  sounds about low now comparatively to what I feel like I'm used to. I want to see in the stock market.
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  Well, that's a thing everyone kind of gets used to these really, really good returns. And then when
• 7:22
  you start seeing negative six or negative 10, which you haven't seen, start panicking. I don't,
• 7:31
  I go shopping. But I haven't been. I keep forgetting, but I'm going to start. Yeah.
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  And when I say shopping, I mean shopping in the stock market, not shopping in like the stores,
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  just for anyone that's like, what? But what do you think the stock market will do next year?
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  Yeah, everything. Maybe like 17%. Oh, okay. I'm going to write this down, actually.
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  Actually, can I say 18? Just because it's an even number. 18%. Yeah. I reckon we should get everyone
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  to comment what they think. Yeah, that's fun. And if you were ever listening to the poll class,
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  write my prediction for 2025 is something, something, something, percent. But isn't
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  500 for next year, 2025? Yeah. Okay. Love that. And we'll think of a prize over the next 12
• 8:07
  months. Yeah. Like when I hope in 12 months, we're replaying this and I got it right. What are
• 8:12
  you predicting? I reckon about keen. Yeah. So some of the best economists and analysts. So JP
• 8:20
  Morgan, Morgan Stanley, Goldman Sachs, they are predicting just under seven percent for next year.
• 8:25
  I don't care what the professionals product anymore. They always get it wrong.
• 8:30
  Nice. But do you think like, I mean, what were they saying? Like Goldman Sachs are saying,
• 8:34
  we think it's going to be three percent for the next 10 years. Yeah. Yeah. Three percent per year.
• 8:38
  I think that's total. I think they've absolutely had a blow up. Love that. I love that.
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  I mean, there's someone that's kind of works there and it's like this arrogant little
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  that chose invested for one and a half years. So she knows what she's up to.
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  So it's somewhere between our predictions and it's 14%. Like that's still way better than you get
• 8:56
  in the bank. But why they're saying that it's going to be lower next year is that we're having
• 9:00
  this like honeymoon period with the new president. So everyone's just really excited and there's
• 9:04
  kind of this euphoria and they're like, that's what that will fade. Honestly though, if Trump starts
• 9:08
  doing some random weird stuff, I can see the stock market having a total no start. I reckon it's more
• 9:15
  AI related. If we started seeing like people revolting, but people just realizing, oh, there's
• 9:23
  actually a lot of hype here and there's not a lot of actual tangible demand or sales or,
• 9:29
  you know, all these companies that have lifted the stock market so high over the last kind of 12,
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  18 months. So your whole thing is you think if AI doesn't deliver in terms of actual functionalities
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  that it can be used for in lots of different industries that people will start thinking this is hype
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  and we're not actually seeing implementation and that could cause the overarching stock market to fall.
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  Not fall, just not grow as much. Yeah. I mean, that makes total sense to me.
• 9:55
  Speaking of AI, this is actually something you've mentioned before, so if we as a woman don't
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  keep up with the pace of AI and actually like using it, being aware of its uses, you know,
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  actually being active participants. Yeah, active participants, then there's going to be even bigger
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  gap between men and women when it comes to the gender pay gap, the gender wealth gap. Yeah,
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  there was some research out this week that shows that AI early adopters are massively,
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  disproportionately men. So we're already seeing this play out. Yeah, and they want all the admin
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  done for them. Like what is that? It's more that women are fearful of the technology and therefore
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  not embracing it and therefore. I think it's valid. I understand the fearfulness and the fact that
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  it was created by men, it's instantly biased. Like we've been to a few talks about this. It's
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  really interesting, but I think if we're not actively using it and feeding it with data and
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  participating in the growth of the direction of it that it goes, it's almost more alarming.
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  There was one, what was that presentation meant to and it was like diversity, equity, inclusion
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  at Google. Yeah, and it was like there was this one company that was and it had asked AI,
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  GBT or something like that to write a job description for John and then write a job description
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  for Jane. And then at the bottom of the job description it was like must exceed expectations and
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  XYZ and then for Jane it was like must hit expectations for XYZ. And so it was like just all
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  this like disproportionate like slight different change in tone and messaging that put us as
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  like not being as good as men. It was quite interesting. I can't remember the exact example,
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  it was just like when something is created by a certain bunch of people, whether it's
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  men or women or you know, and it's naturally going to target that market that it's designed for.
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  So that's why we do need diversity, equity, inclusion in AI. Have you read that book
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  in visible women? It's kind of that, but times in million, it's like from the size of the iPhone,
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  being able to fit in a guy's hand more than it does woman. What are those things that sort of
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  like blow up when you're in a car like the, oh, the e-bags, you know, the way that they're designed
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  for every thing. It's like the list goes on, but I think I understand. But from what I know from
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  AI, which is not a lot, the more that you feed it, the more that it learns. So by having such a few
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  women feeding into it or using it, it's just exacerbating the problem of that huge slant and
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  unfortunate. The bias increases the bias. Yeah, definitely. Yeah. Yeah, women are more concerned
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  about the negative consequences of putting their data in rather than the positive consequences.
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  So they're a bit more risk-averse, which is the same when it comes to investing. We're slightly
• 12:40
  more risk-averse. Are we risk-averse? We're risk-averse in the sense that we don't invest.
• 12:46
  Yes, but we're not when we know what we're doing. No, but yeah, we just want to dot our eyes and
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  cross our teeth a lot more than the men do. But also, women's jobs are most likely to be
• 12:56
  disrupted by AI, which is a whole another conversation. The top list of jobs that are more exposed to
• 13:02
  being made redundant because of AI is like admin jobs, which are predominantly women,
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  whereas physical labor, which is very hard to be replaced by AI, is mainly men. So that just
• 13:12
  leads to a widening of a gender pay gap, of wealth, a wealth gap, a gender wealth gap, all of that.
• 13:20
  The key takeaway from this would be, it shouldn't scare you. You should be like, okay, what can I do?
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  Lean into new skills, lean into things that you don't know, learn about them, whether it's investing
• 13:29
  AI, anything. If you are scared, put that onto being excited by actually understanding
• 13:38
  what it's about, what's going to happen. And then maybe you can adapt, create new skills.
• 13:42
  And there was a great quote that I read. It's like, you won't be replaced by AI. You'll be replaced
• 13:47
  by someone who knows AI. That's, I think that is the best, like point because someone has to
• 13:52
  still power the AI. So I'm just going to do it by itself, like get to say, hi, write an email
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  that says XYZ. If you are an admin or a support role or an office manager role or whatever,
• 14:02
  and you are a bit worried, like the first thing you can do is just, you know, read up on AI and try
• 14:08
  and use it as much as you can. It's also very easy. For anyone that's scared, I am a later doctor.
• 14:14
  That is my, just like, I was the last person to get Facebook, I was the last person to get
• 14:18
  Instagram, but I promise you, AI is so easy to use. You're the last person to go to winter wonderland.
• 14:24
  Yeah, exactly. Don't think of it as this massive scary thing. It's basically just telling
• 14:28
  something what to do. It's the same within investing. It's not a massive scary thing. You know,
• 14:32
  just start, start anywhere. So enough about AI. I feel like we could talk about that for
• 14:37
  ages. I love it. I love it. Let's go back to talking about the future
• 14:42
  projections of the stock market. So Walmart shares have been absolutely on a tear this year.
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  They're up 80%. And remember at the beginning of this episode, we said that the stock market's
• 14:54
  up about about 30. So Walmart is a warehouse discount style. Just can't retail. You get very,
• 15:01
  very cheap price goods. When the economy is struggling or people can't afford to pay high price,
• 15:09
  they can't afford to buy expensive things. They start shopping more at Walmart. So the fact that
• 15:17
  Walmart share prices up 80% indicates that the economy might not look as good or people might not
• 15:23
  feel as confident in terms of their spending ability in the next year or two. So this is guy
• 15:29
  on Wall Street who has come up with what he calls like a recession indicator of his own. So
• 15:36
  he's taking the Walmart share price and he's divided it by this luxury index that exists,
• 15:41
  which is made up of a lot of luxury companies. So I think Louis Vuitton Moickhennessey,
• 15:45
  think Omez, there's an index, there's a luxury index. So if you wanted to invest in luxury stocks,
• 15:49
  you'd buy that index. So he's taken the Walmart share price, stick with me, divided by this luxury
• 15:55
  index. And what it shows is whether the world is heading into recession because if it is,
• 16:02
  the Walmart share price is doing really well and the luxury names don't do very well because you
• 16:07
  don't buy luxury if you're really struggling or you've lost your job or you're a bit scared about
• 16:12
  the future. So essentially what he's created is almost like a weather reading chart. He's trying
• 16:18
  to figure out a kind of he thinks by taking one of the best companies that absolutely thrives
• 16:25
  when people are struggling financially, which generally means there's some sort of recession
• 16:31
  happening. He's taken that and almost compared it to the luxury index or the companies that do
• 16:38
  really shit when there's a recession to try and create some sort of formula to figure out
• 16:44
  what's going to happen in terms of the economy. Exactly. So you could take one of those,
• 16:48
  you could take the luxury index and see that that's falling and falling and falling, which it has been
• 16:52
  this year. Oh, you could take just the Walmart share price and see that that's gone up, but he's
• 16:56
  kind of combined them to give it like credibility of credibility. And so it feels like it's like he's
• 17:04
  come up with some like, you know, it's like, you know, when Eve and I was like, okay, so Y2K,
• 17:10
  you know, we've got that this is happening the end of the calendar blah, blah, blah, or like,
• 17:14
  you know, someone's done like a star chart of the planets and come up with some, you know what I mean?
• 17:21
  I can tell if it's going to rain because and then she's like, it's right, she's like, it's going
• 17:25
  to rain and it's like pissing down. It's kind of like that, but like what a forward indicator,
• 17:29
  because everyone's looking for indications for what's going to happen in the future and trying to
• 17:34
  act on it now. Has it gained a lot of traction and news attention? So people are like, this guy,
• 17:40
  the Walmart guy knows what he's talking about. Yeah. So he's created this Walmart recession signal.
• 17:45
  So it's now at its highest levels that it has been since the pandemic. I've just sort of
• 17:51
  another example. Yeah. It's like how likely is a bushfire, you know, the colored chart and that
• 17:58
  ticket goes to like, and they'll be taking a whole lot of different indicators. They'll be taking
• 18:02
  weather, they'll be taking humidity, you know, they'll be taking, um, lots of different indicators
• 18:07
  to move that lever of like, yeah, yeah, yeah, we're in low. Yeah. So this is so Walmart recession
• 18:13
  indicator. Hi, hi, hi, hi, hi, hi, hi, hi, right now. Yeah. So what do what do we do with this
• 18:19
  information, Vic? Oh, great question. I want to change my prediction on the stock market
• 18:24
  if that's the case. I'd like to say I think it's going to be lower than 18% return next year.
• 18:31
  Try not to freak out. I mean, we have been through so many recessions over the years. Like,
• 18:36
  if we looked back over the last 20 years and a technically a recession is two periods of negative
• 18:42
  economic growth. So two quarters of negative, six months. So my New Zealand was in one and yes,
• 18:47
  we call home and it is quite dire and people like are saying things aren't what they used to be
• 18:51
  and people losing their jobs and their stores that have closed and all of that. But I think this is
• 18:57
  really an important time to a try and keep investing if you can. Taking a long-term view is
• 19:03
  really, really key because if you were to say, oh gosh, so thanks, the stock market's not going
• 19:07
  to do well at next year. I'm going to take my money out. So I could be very wrong.
• 19:11
  Based on my predictions. God, that's the worst thing anyone could do. No, I mean also,
• 19:16
  everyone has an opinion. It's also, if you don't already have an emergency fund,
• 19:21
  now would be a good time to start one because who knows what's around the corner? If we do
• 19:25
  head into recession and maybe you're a business owner and things don't go as well or you're employed
• 19:30
  and you unfortunately lose your job, you know, having those buffers in place will just mean
• 19:36
  less stress. And hey, if we don't go into recession, you've got a bit of extra money for other
• 19:41
  emergencies that might come along. If we're in a recession, interest rates are doing what and
• 19:47
  therefore returns keeping your money in the bank are doing what? Interest rates usually go down
• 19:51
  because, and we're seeing this payout in New Zealand at the moment, interest rates are falling,
• 19:55
  they are used to stimulate the economy and grow the economy. Interest rates like the Viagra for
• 20:00
  the economy. So we are feeding little jobs of Viagra to the economy in New Zealand right now
• 20:06
  because if people aren't getting as much for their savings in the bank, their spending,
• 20:12
  you want to encourage people to spend because that grows the economy. So in a recession,
• 20:17
  are the returns in the bank generally good or shit? Shitter. So you actually do want to be investing
• 20:22
  in the stock market. So really, if this is potentially happening and you're wanting to plan
• 20:27
  your finances around that, two things. Emergency fund in the bank, secondly, maybe have some money
• 20:32
  keep investing in the stock market. Yeah, so I think that, and if you are in a position to invest,
• 20:36
  just keep investing dollar cost averaging, which means that you're getting those lower prices
• 20:41
  if the stock market does fall. So you're getting your prices on sale effectively. So just keep doing
• 20:48
  what you're doing. But it's not a good place to keep your money if you're going to be needing it
• 20:53
  soon because the recession means stock market generally falls, right? Which means that if you
• 20:58
  ever needed to pull that money out dangerous. The stock market doesn't necessarily fall, which
• 21:03
  doesn't do as well as if the economy is booming. Naturally, if a lot of companies are having a lot
• 21:11
  of customers, they're able to raise prices, they're able to employ staff, their products are selling,
• 21:17
  they're going to be doing well and the stock market's going to do well. If some of those companies
• 21:21
  say the luxury companies aren't doing as well, then the overall stock market isn't going to be doing
• 21:26
  as well as it would if the economy was in a really, really good state. So the key thing would be
• 21:31
  having an emergency fund. Yeah. The second thing would be just keep investing, just keep investing
• 21:37
  no matter what. If you're in a position because if the stock market doesn't do as well, you can get
• 21:43
  cheaper prices. Yeah, you're buying the stock market on sale. I titled the section Wonder Woman,
• 21:48
  which I thought was quite good. And that is all because I have been in undated with news about
• 21:55
  this massive wealth transfer that's going to happen by 2030. So only like five years away.
• 22:02
  And it's that woman. Am I inheriting money? Yeah. Is that what a wealth transfer you mean?
• 22:06
  Yeah. So it's like women will have control over 34 trillion dollars in wealth by 2030.
• 22:14
  So there's going to be a huge hand over from what like the older generation passing it through.
• 22:19
  Yeah. And this was seven trillion 10 years ago. So you add another five years. So in 15 years,
• 22:25
  it's gone from seven trillion to 34 trillion in the hands of women. Wow. Yeah. And does that
• 22:31
  is there any indication of like age or anything? It's still less than 40% of the overall global wealth.
• 22:37
  So men are still going to control 60%. We're going to control 40. But we've just had such a massive
• 22:43
  step up in what we are going to inherit, but also gain from like career, career gains. So it's us
• 22:52
  earning more. It's us also inheriting. It's not all inheritance. So we're going to be in control
• 22:58
  of 34 trillion dollars by 2030. I love the collective way. I like that. Yeah. We like it's all of us.
• 23:05
  And so at the moment, you're asking for a pay rise, you're going to be part of that and you're
• 23:09
  actually earning more. So the biggest drivers of these of this change, so of this increase in
• 23:16
  wealth that we're going to be managing is women of the baby boomer generation outlive men.
• 23:23
  So as men have the wealth and they pass away, it's going to be passed to their wives or their
• 23:28
  partners because they live longer. Also, it's younger women pursuing more look at a career. So
• 23:34
  more senior leadership roles asking for how you increases all of that. So it's a combination of all
• 23:40
  things. Yeah. So it's a combination of inheritance to husbands dying. I'm like, yeah. And why this
• 23:47
  is so good is because and who's going to benefit the most is not only the wealth management industry,
• 23:52
  but also the philanthropic industry because women give more. Oh, thank goodness.
• 24:01
  The money's going towards good things because the more money's in hands of women.
• 24:05
  Yeah. And this is a massive change. Like, yes, we're still only going to be control and control
• 24:10
  about 40% of the overall global wealth. That's still pretty good. Considering 50 years ago,
• 24:15
  we couldn't even get a credit card. What? How has that changed over the years? Let's say 20 years
• 24:20
  ago, how much wealth was in the hands of women? Can we see what that trajectory is? Because that's
• 24:25
  fascinating. So 10 years ago, it was 30%. It's now gone up to 40%. So in 10 years,
• 24:31
  another 10 years, it could maybe, or even five, it could get to 50, 50. Be over half, yeah,
• 24:35
  be over halfway. Oh my god, that's huge. Considering that only 41 companies in the S&P 500,
• 24:44
  so remember they're the top 500 companies in the US are run by women. And 12% of C-suite
• 24:50
  positions. So C-O, C-F-O, C-O-O, the net of the jobs. Yeah, the big, the top, top jobs
• 24:57
  at public companies are women. So we've still so low in those percentages. Yes, we kind of
• 25:04
  punch above our weight when it comes to the wealth that we're going to be inheriting and controlling,
• 25:10
  which also means we need to be able to make smart decisions with that money that we have.
• 25:16
  If we're inheriting it, or if we're getting it through our lucrative careers,
• 25:22
  we need to be able to know what to do with that money. So we can get to that 50%. Well,
• 25:26
  60% or 70%. If you're aware that guys talk about how to make money heaps, and that's a massive
• 25:31
  problem in itself because we don't, because women generally shy away from talking about money
• 25:36
  are investing or whatever. I mean, I really hope in a lot of friendship circles that change,
• 25:43
  and hopefully, you know, you send round podcasts like this to your friends, whether it's ours or
• 25:48
  other ones talking about education when it comes to money, but I really, really would encourage
• 25:54
  you to be brave, and whether it's sending a podcast or a social media account or bringing up
• 26:00
  something you've learnt and sharing it with your friends. Those are the types of things that we can
• 26:05
  socialise money conversations. Then we can reach more people to make better decisions. I think
• 26:12
  it's really important. Like, don't think that that's not your place to do because the more people
• 26:16
  we have as advocates for talking and learning more about money, the more we can help everybody
• 26:22
  collectively to spend it in investor and better ways. One of the industries that I see that was
• 26:27
  going to benefit the most is the wealth management industry because they're going to be managing
• 26:30
  on behalf of these, on behalf of women or behalf of people. That industry in itself is majority
• 26:36
  men still. So even though we will control the money, we will be giving it a way to men, to manage
• 26:42
  on behalf. So we're not controlling it. So actually learning how to invest yourself. Yes.
• 26:48
  Or getting more women in the wealth management industry to invest in different ways is so important.
• 26:52
  It's so important. Oh god, there's so much to be done, but that's really exciting. And I would
• 26:56
  really love to finish on what I can see as a Taylor Swift, and nods to our girl. Teas was all
• 27:03
  when we were just a door, top, top artist probably for both of us at 2024. I just, I'm kind of sad
• 27:09
  because I loved all the stats coming out. Like, oh, she's created this many jobs from this show.
• 27:13
  And like, it was the most wealth generating concert of all time, wasn't it? Yeah, the biggest
• 27:18
  tour that earned the most money of all time. So amazing. So amazing. But she made two billion dollars
• 27:26
  in revenue just from ticket sales. Oh, sorry. So to sum this up, the tour is finished. The tour
• 27:32
  this week. I'm so glad we weren't by the way. She toured for like just over two years. She did
• 27:38
  149 shows. And she finished the tour exactly, 1989 days, since losing control of her music.
• 27:49
  Yeah. She made two billion dollars in revenue just from ticket sales. I don't, I don't think
• 27:55
  I've seen a bigger FU. We say lost control of her music. Was this the Spotify situation? No,
• 28:01
  this was the scooter brawn situation. What happened with that? And she re-recorded her music
• 28:06
  catalog got sold. And that's when, sorry, yes. And Spotify was the, the flowering of that. She was
• 28:11
  like, if you don't, I'm going to re-record all my music they sold. If you have the old
• 28:17
  scooter brawn version and not my newly updated Taylor version, I'm going to pull my entire
• 28:22
  catalog from Spotify. Spotify swapped all out with her re-recorded music, which is another FU
• 28:28
  genie. Imagine recording. I don't know how many albums she had, but even recording one album again.
• 28:32
  By the way, when we went to her concert and she found my bracelet the other day. Oh,
• 28:36
  I've got my tour still. She um got to Travis Kelsey, her um boyfriend on stage. And we bought,
• 28:43
  I just remember the moment that happened looking at that we both looked at each other. Oh my god,
• 28:47
  I can't remember this happening. We're experiencing this moment. But I didn't realize how massive it
• 28:50
  was. I didn't realize that she'd never done that before. No, I know. I wish I had not because I
• 28:54
  would have lost my shirt even more. I know. Yeah. But anyway, we love Taylor. She's honestly,
• 28:59
  she's done better than Michael Jackson. She's done better than the Beatles. Yeah. And they were like,
• 29:03
  I can't help it. Yeah, yeah. So like our kids are going to be like, oh, my mom, you saw Taylor
• 29:07
  Swift fly. Yeah, yeah. Yeah. We're like, yes, we were there. We know she bought it. We've been on
• 29:12
  stage here. It's like, we are another getting done together. Like the most like tweed music. Oh, I put
• 29:22
  my hip out. Oh, I hope everyone has had a really great year. Oh, one thing we you've put us in
• 29:32
  to potentially speak itself by Southwest London. Yes. If you listen to this, can you please vote
• 29:37
  for us because we want to speak there. And it's a it's a public vote situation. I want to be such a
• 29:42
  bucketless moment. I yeah. I'd absolutely win my pants with nerves, but like please vote for
• 29:48
  us because I would be in love with us. Imagine if we got there. Yeah. And it's kind of like a
• 29:51
  TED talk. We'll put that. Yeah. And we will put a link in the show notes and the category that we're
• 29:57
  under. But please, please, please vote for us if you're in London, Australia, New Zealand, anywhere
• 30:02
  you can vote. And if we do get in and do get to speak, we'll do something silly like St Taylor Swift.
• 30:08
  Yeah. Oh, my gosh. Have the best Christmas and silly season. We'll be back on the silly season.
• 30:14
  Oh, Jen. Sorry. No, no, no. I'm talking. Well, I'm just a lady that I don't like.
• 30:20
  Amy please. But yeah, we've got one last episode coming out on the show.
• 30:26
  Thank you so much for listening to the Curve Weekly. Make sure you hit the subscribe button
• 30:30
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• 30:35
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• 30:40
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• 30:44
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• 30:48
  week and see you next Monday. Bye. Bye. See you next Tuesday. Wow.
• 30:57
  See you next Tuesday. I mean, Monday. No, actually though, new episodes out every Tuesday.
• 31:02
  Okay, quickly, the Curve was created to empower and educate you about investing, but we are not
• 31:10
  financial advisors. Our platform exists for educational purposes only and it doesn't provide
• 31:15
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• 31:19
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• 31:23
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• 31:27
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• 31:31
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