Latest / What the Flux / Airtasker’s US boost | ChatGPT just got social | The #1 country music track with a twist

Transcript

Airtasker’s US boost | ChatGPT just got social | The #1 country music track with a twist · What the Flux

• 0:05
  Speaker 1: This is what the Flux.
• 0:06
  Speaker 2: I'm Brettan, I'm justin and it's Wednesday, the twentieth of November.
• 0:09
  Speaker 1: Joy Boy. Another year down, another round of Shonky Awards
• 0:13
  Speaker 1: awarded to the shonkiest brands in Australia. This year, our
• 0:16
  Speaker 1: friends at Combank were one of the honorees for the
• 0:19
  Speaker 1: fourth time in just twenty years, making Combank the most
• 0:22
  Speaker 1: awarded Australian company in Shonky's history. Other winners include TEAMU,
• 0:26
  Speaker 1: a few energy retailers and HCF.
• 0:29
  Speaker 2: Not exactly the awards list you want to be on,
• 0:31
  Speaker 2: bemn nah fox out. Ever sign up to a subscription
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• 0:49
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• 0:52
  Speaker 2: So if you want to save some money, make sure
• 0:53
  Speaker 2: you download the Flux app and check out the subscription track.
• 0:56
  Speaker 1: Three marvelous stories Today Judy Boys do for our first.
• 0:59
  Speaker 1: Airtar has raised more than seven and a half million
• 1:02
  Speaker 1: bucks from iHeartMedia as part of its plan to expand
• 1:05
  Speaker 1: into the US and UK. But at share price got
• 1:08
  Speaker 1: whacked following this news.
• 1:09
  Speaker 2: So air Tasker raised money, but actual money? Can you
• 1:12
  Speaker 2: tell me more? Be there? Yeah?
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  Speaker 1: So, air Tasker is obviously the online marketplace that enables
• 1:17
  Speaker 1: you to outsource everyday tasks.
• 1:18
  Speaker 2: Yep uses describe a task and then air taskers a
• 1:21
  Speaker 2: bid to complete the.
• 1:22
  Speaker 1: Task, and Jazi boy people have asked air taks to
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  Speaker 1: do a really broad range of regular tasks like help
• 1:28
  Speaker 1: me assemble my Ikfi pack, but of course there are
• 1:30
  Speaker 1: always a few completely bizarre requests in there.
• 1:33
  Speaker 2: Like pretend to be my girlfriend in front of my parents.
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  Speaker 1: And it was founded in twenty twelve, listed on the
• 1:38
  Speaker 1: AX in twenty seventeen, and has plans to now expand
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  Speaker 1: aggressively in the US and UK.
• 1:44
  Speaker 2: So now air Tasker has raised more than seven and
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  Speaker 2: a half million dollars from iHeartMedia in the US.
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  Speaker 1: It's also planning to raise another ten mili in cash
• 1:51
  Speaker 1: as part of the expansion.
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  Speaker 2: But then, man, here's the plot twist, because the capital
• 1:54
  Speaker 2: from iHeartMedia isn't a traditional cash money injection.
• 1:58
  Speaker 1: No no, no. This was in the form of a
• 2:00
  Speaker 1: media for equity deal or media capital.
• 2:02
  Speaker 2: Next minute, Tasker's share price actually dropped nine percent, So
• 2:06
  Speaker 2: what's the key learning here? Media for equity is where
• 2:08
  Speaker 2: a company hands out shares in exchange for advertised instead
• 2:12
  Speaker 2: of for cash.
• 2:12
  Speaker 1: It's perfect for brands like iHeartMedia that have a lot
• 2:15
  Speaker 1: of ad space or inventory but maybe not as much cash.
• 2:18
  Speaker 1: But by swapping those ad slots for equity, the brand
• 2:21
  Speaker 1: like Air Tasker build awareness and the media company like
• 2:24
  Speaker 1: iHeartMedia gets a stake in the company success. The plan
• 2:27
  Speaker 1: for Air Tasker would be to promote their services to
• 2:29
  Speaker 1: as many people as possible through the partnership, and.
• 2:31
  Speaker 2: As part of this deal, they'll get access to iHeartMedia's
• 2:34
  Speaker 2: network of two hundred and seventy six million monthly users.
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  Speaker 1: Now does the boy.
• 2:38
  Speaker 2: Air Tasker has made a bit of a habit of
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  Speaker 2: this quid pro quo yep. Its current media for equity
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  Speaker 2: partnerships have helped it get more than fifty eight million
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  Speaker 2: dollars in advertising across the UK, the US and Australia
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  Speaker 2: as well.
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  Speaker 1: So this deal will help Air tasker drive its brand
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  Speaker 1: awareness in new markets.
• 2:52
  Speaker 2: And they're hoping it will help them expand to assemble
• 2:55
  Speaker 2: flat packs all over the world.
• 2:57
  Speaker 1: For our second story, OpenAI has launched a brand new
• 3:00
  Speaker 1: group chat feature for CHATJPT as it quietly tiptoes towards
• 3:04
  Speaker 1: becoming a social platform.
• 3:06
  Speaker 2: Is chat rept the new TikTok b man, We're about
• 3:08
  Speaker 2: to see ai doing dance challenges probably a ready seen it.
• 3:11
  Speaker 2: What is going on here? So we all know that
• 3:12
  Speaker 2: open ai is the company behind chat GPT, which is
• 3:15
  Speaker 2: now used by more than one hundred million people every
• 3:18
  Speaker 2: single week.
• 3:18
  Speaker 1: That's almost four times the size of Australia using it
• 3:20
  Speaker 1: every week to build a fitness plan.
• 3:23
  Speaker 2: Or get questionable and unqualified medical advice on their latest rash.
• 3:26
  Speaker 1: One hundred percent. And now chat rept has announced a
• 3:29
  Speaker 1: new groups feature.
• 3:30
  Speaker 2: Yep, your group Project Trauma from university has officially gone digital.
• 3:34
  Speaker 1: Yeah. It allows up to twenty people to work in
• 3:36
  Speaker 1: one chat gbt chat and speak to each other in
• 3:39
  Speaker 1: the chat.
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  Speaker 2: As well, and they can also tag chat rept to
• 3:42
  Speaker 2: get it to respot.
• 3:42
  Speaker 1: And this move follows open aiy's little social makeover recently.
• 3:47
  Speaker 2: When they released Saurra the AI video generation tool. It
• 3:50
  Speaker 2: came with a TikTok style fee of their AI generated
• 3:53
  Speaker 2: video content as well.
• 3:54
  Speaker 1: Very spooky stuff, Josie Boy. So what's the key learning here?
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  Speaker 2: Adding a social layer is one of the most powerful
• 3:58
  Speaker 2: growth leavers for tech.
• 4:00
  Speaker 1: Because social features turn a product from something and individual
• 4:03
  Speaker 1: users into something where you can kind of hang out
• 4:06
  Speaker 1: with your friends.
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  Speaker 2: When a product becomes social, it gains new forms of engagement.
• 4:10
  Speaker 1: Think sharing, think collaborating, think quick feedback loops.
• 4:13
  Speaker 2: And that's why products like Instagram and TikTok and Slack
• 4:15
  Speaker 2: have all embedded social features into it.
• 4:17
  Speaker 1: Josey Boy. It might I remind you that Instagram didn't
• 4:20
  Speaker 1: start as a social network. It was a simple photo
• 4:23
  Speaker 1: filter app.
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  Speaker 2: But once the founders saw people sharing pictures with friends,
• 4:26
  Speaker 2: they doubled down on following and liking and commenting.
• 4:29
  Speaker 1: And then by twenty twenty four, Instagram users were uploading
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  Speaker 1: ninety five million photos per day and three and a
• 4:34
  Speaker 1: half billion likes and shares per day.
• 4:36
  Speaker 2: Wow. For our third and final story, breaking Rust has
• 4:40
  Speaker 2: just hit number one on the US country charts with
• 4:43
  Speaker 2: their song Walk My Walk, But there is a serious
• 4:45
  Speaker 2: concern from the music industry.
• 4:47
  Speaker 1: Them country music purist juzzy Boy. They will need to
• 4:51
  Speaker 1: be holding onto their cowboy hats right now. Things are
• 4:53
  Speaker 1: getting very weird. Tell me what's going on.
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  Speaker 2: So the US country charts have always been dominated by
• 4:57
  Speaker 2: Nashville's singer songwriters.
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  Speaker 1: Dolly Pardon, Johnny cas Cash, more recently Morgan Wollen.
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  Speaker 2: But right now the number one track on Billboard's Country
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  Speaker 2: Digital Song Sales chart is sung by someone who technically
• 5:07
  Speaker 2: doesn't breathe. Yep.
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  Speaker 1: The artist is rust breaking russ.
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  Speaker 2: An entirely AI generated outlaw country blues artists.
• 5:15
  Speaker 1: And Jasevoyite. Another AI artist, Kane Walker, sits at number
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  Speaker 1: three with Don't Tread on Me.
• 5:19
  Speaker 2: And this isn't just a one off. At least six
• 5:21
  Speaker 2: AI or AI assisted artists have already debuted on Billboard
• 5:25
  Speaker 2: charts in recent months.
• 5:26
  Speaker 1: Because there's a formula to a hit or a viral song,
• 5:28
  Speaker 1: and AI knows exactly how to strike that note.
• 5:31
  Speaker 2: So true, So what is the key learning here?
• 5:33
  Speaker 1: When AI starts creating work that performs well commercially, it
• 5:36
  Speaker 1: pushes down the value of human made creativity seeb Man.
• 5:41
  Speaker 2: For decades, the music industry has relied on scarcity of
• 5:43
  Speaker 2: music and the human emotion for success.
• 5:45
  Speaker 1: Humans can only write so many songs from so many experiences,
• 5:49
  Speaker 1: and the good ones they're even rarer. But AI doesn't
• 5:52
  Speaker 1: have that limit.
• 5:52
  Speaker 2: It can pump out endless tracks.
• 5:54
  Speaker 1: And then it could flood the market with music that
• 5:56
  Speaker 1: performs well based on its volume and virality.
• 5:59
  Speaker 2: In fact, then man. A report by APRA Amcoss in
• 6:01
  Speaker 2: Australia found that by twenty twenty eight, twenty three percent
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  Speaker 2: of Australian music creator's revenue will be at risk because
• 6:07
  Speaker 2: of generative AI.
• 6:08
  Speaker 1: That's estimated to cause about five hundred and twenty million
• 6:10
  Speaker 1: dollars of damage to Australian artists.
• 6:12
  Speaker 2: So be Man. The new world of music writing is
• 6:15
  Speaker 2: potentially changing.
• 6:16
  Speaker 1: YEP songs are being written by things that never had
• 6:19
  Speaker 1: a childhood, never cried over a breakup.
• 6:20
  Speaker 2: But these songs will continue to perform well on a
• 6:23
  Speaker 2: global stage unless the music industry stops it. Flux SAM
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• 6:47
  Speaker 1: Thanks for listening, and we'll see you on Friday