Latest / What the Flux / Atlassian takes on Google & Microsoft | Macquarie dominates home loans | American Eagle's denim dreams

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Atlassian takes on Google & Microsoft | Macquarie dominates home loans | American Eagle's denim dreams · What the Flux

• 0:05
  Speaker 1: This is what the flux.
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  Speaker 2: I'm Brett and I'm Justin and Monday, the eighth of September.
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  Speaker 1: Dozy boy, Australians are supposedly in big depth to the ATO.
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  Speaker 1: We're talking fifty billion dollars in debt to the Tax Office.
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  Speaker 1: There's a small group of twenty two thousand dozzies who
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  Speaker 1: owe eleven billion dollars themselves. That's a lazy five hundred
• 0:23
  Speaker 1: thousand dollars per person.
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  Speaker 2: Wow.
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  Speaker 1: And now the AJO is saying cough it.
• 0:27
  Speaker 2: Up, taxpayers saying give what back? Man. Speaking of paying
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  Speaker 2: your taxes, October thirty first is just around the corner.
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  Speaker 2: We're talking less than fifty days away. That is a
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  Speaker 2: cutoff date when you can submit your own tax return. Now,
• 0:39
  Speaker 2: if you are planning to submit and you haven't done
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  Speaker 2: it yet, and you need a little bit of help
• 0:42
  Speaker 2: understanding the tax system how it works, We've got it
• 0:44
  Speaker 2: all covered in the Flex Academy. This month it's your
• 0:47
  Speaker 2: FI twenty five tax tookit all covered, including what deductions
• 0:51
  Speaker 2: you can make. So if you want to learn more
• 0:52
  Speaker 2: about the f FI twenty five tax talkit, make sure
• 0:54
  Speaker 2: to download the Flex app and check it out.
• 0:56
  Speaker 1: Three mesmerizing stories today, juzzy boy, let's do it for
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  Speaker 1: our first. At Lassian has announced plans to take on
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  Speaker 1: Google and Apple with an almost one billion dollar acquisition
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  Speaker 1: of an AI powered browser.
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  Speaker 2: Lascian, throwing its hat into the big tech ring. Here
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  Speaker 2: be man with the big dogs, tell me all so.
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  Speaker 1: At Lassian was founded in Sydney twenty twenty two by
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  Speaker 1: Mike Kennon Brooks and Scott Farquha, and it's.
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  Speaker 2: Grown into a NASDAQ listed tech Behemit and Juzi wolld.
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  Speaker 1: It's probably best known for its project tracking software Jira,
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  Speaker 1: as well as its acquisition of to do list tool Trello.
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  Speaker 2: Don't forget Loom, the video communication tech company that acquired
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  Speaker 2: for nine hundred and seventy five milk back in twenty
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  Speaker 2: twenty three.
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  Speaker 1: And at lassian share price has fallen more than thirty
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  Speaker 1: percent this year, Juzzy boy. After investors have been asking
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  Speaker 1: the big questions, how are you going to continue growing revenue,
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  Speaker 1: how are you going to win bigger contracts?
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  Speaker 2: And when are you going to become profitable?
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  Speaker 1: But now at Lassian has announced plans to acquire the
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  Speaker 1: browser company for nine hundred and thirty six million bucks.
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  Speaker 1: This is a company behind browsers called Dia and Ark
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  Speaker 1: and at Lassian called the acquisition a quote trust play
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  Speaker 1: and how so be man? Well, they're betting that companies
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  Speaker 1: will pay for Cure AI enabled browsers built for work purposes.
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  Speaker 2: And at Lassian's entering the browser space before Google edges
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  Speaker 2: its way into the project tracking world.
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  Speaker 1: Interesting. So what's the key learning here?
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  Speaker 2: The battleground in tech isn't just who builds the best app.
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  Speaker 2: It's about who owns the entry point to your work day.
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  Speaker 2: Many tech companies see the browser as that front door.
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  Speaker 2: Does it? Wait?
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  Speaker 1: We know that Google dominates in the browser space with
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  Speaker 1: nearly sixty eight percent of market share according to cloud Flare,
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  Speaker 1: and then Safari with a prox twenty percent, Microsoft's edge
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  Speaker 1: with a humble six percent.
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  Speaker 2: Think about it, it man, If you just start their day
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  Speaker 2: in Google Chrome or Safari, then Google and Apple can
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  Speaker 2: push their own productivity tools and AI features first.
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  Speaker 1: But if Atlasian controls the browser, it can control the
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  Speaker 1: flow of attention and tasks and data.
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  Speaker 2: But the man the challenge for it Lassie will be
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  Speaker 2: getting its customers to actually switch to their browser.
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  Speaker 1: And clearly investors aren't sure if they have the ability either,
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  Speaker 1: because at Lassian share price fell two percent following this news.
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  Speaker 2: For our second story, Mcquarie has smashed the Big four
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  Speaker 2: banks in July this year, snapping up nearly forty percent
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  Speaker 2: of all new Australian homelands reten.
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  Speaker 1: The big banks must be in even bigger shock here,
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  Speaker 1: JUSI boy, what's going on?
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  Speaker 2: Hey? Sir. McQuary was originally founded in nineteen sixty nine,
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  Speaker 2: and it's best known for being one of Australia's leading
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  Speaker 2: investment banks.
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  Speaker 1: But that ain't everything it does because it also has
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  Speaker 1: other arms, like its asset management arm and its wealth
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  Speaker 1: management arm.
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  Speaker 2: And of course it's retail banking arm, which has personal
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  Speaker 2: banking and mortgages.
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  Speaker 1: The juze boy. Over the last few years, McQuary's retail
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  Speaker 1: bank has gone hard in the mortgage space.
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  Speaker 2: And clearly it's paying off. Get this. According to APRA,
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  Speaker 2: Mcquarie landed nearly forty percent of all new home loan
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  Speaker 2: lending in the month of July.
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  Speaker 1: That means their mortgage book grew six point four times
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  Speaker 1: faster than the Big four banks in July.
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  Speaker 2: Interestingly, though, be Man more than ninety five percent of
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  Speaker 2: these loans going to Mcquarie were being originated via mortgage broker.
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  Speaker 1: And clearly Mcquarie is becoming a very significant threat in mortgage.
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  Speaker 2: Land aka the cash cow of banking.
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  Speaker 1: So what is the key learning here?
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  Speaker 2: Mortgages may seem boring compared to flashy investment banking, but
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  Speaker 2: they're one of the most lucrative parts of the financial system.
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  Speaker 1: Yeah, banks love offering home loans because they're sticky, they're
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  Speaker 1: long term products and they give banks reliable income for decades.
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  Speaker 2: In Australia, mortgage accounts are worth over two point two
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  Speaker 2: trillion dollars, which is more than sixty percent of all
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  Speaker 2: bank lending.
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  Speaker 1: And right now the Big four control around seventy percent
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  Speaker 1: of this market and it's their single biggest profit engine.
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  Speaker 2: Think about it this way, by man, If a bank
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  Speaker 2: makes just one percent margin on one hundred billion dollars
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  Speaker 2: of mortgages, that is a billion dollars in annual revenue.
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  Speaker 1: For Combank, which has a homeland book of around six
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  Speaker 1: hundred billion dollars, mortgages are the core driver of its
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  Speaker 1: over ten billion dollar and your prorofit.
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  Speaker 2: And that is why competition in this space is fierce.
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  Speaker 1: And that's why Macquarie is leveraging an army of mortgage
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  Speaker 1: brokers to funnel all leads through its front door.
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  Speaker 2: For our third and final story, American eagles controversial ad
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  Speaker 2: campaign with Sidney Sweeney has attracted criticism but also seen
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  Speaker 2: them their share price jump twenty five percent. The public
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  Speaker 2: ripped into this denm brand, So what's the story here?
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  Speaker 2: American Eagle is a public listen US clothing and accessories brand.
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  Speaker 2: It started in nineteen seventy seven in Michigan, US Are They.
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  Speaker 1: And now it's sold in over thirty countries worldwide and
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  Speaker 1: juzy Boy. It's known amongst gen zs for its on
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  Speaker 1: trend and affordable style.
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  Speaker 2: And especially known for their comfy denim range.
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  Speaker 1: But American Eagle's most recent ad campaign almost got them canceled.
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  Speaker 2: Yeah, that's right. Their latest ad which featured Sydney Sweeney
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  Speaker 2: where she was wearing blue denim and had the tagline
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  Speaker 2: Sydney Sweeney has great gene.
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  Speaker 1: The old wordplay between denim jeans and genetic genes.
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  Speaker 2: And then this campaign received a lot of backlash, mainly
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  Speaker 2: for focusing on Sydney Sweeney's physical appearance only.
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  Speaker 1: Yet, despite receiving major backlash from some consumers, American Eagle
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  Speaker 1: sales have.
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  Speaker 2: Boom and their share price search twenty five percent since
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  Speaker 2: the ad controversy.
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  Speaker 1: So what is the key learning here?
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  Speaker 2: In today's media landscape, bad PR can still be effective PR.
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  Speaker 1: Studies have shown that the average Australian is hit with
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  Speaker 1: anywhere from four thousand to ten thousand ads per.
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  Speaker 2: Day, so brands are constantly competing not just for your attention,
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  Speaker 2: but also for you to care about them.
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  Speaker 1: Being controversial is a strategic way to amplify brand awareness,
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  Speaker 1: spark viral conversationations, and ultimately drive more sales.
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  Speaker 2: And that's definitely proven true for American.
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  Speaker 1: Eagle Get This One, Juzy Boy. This ad campaign generated
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  Speaker 1: forty billion impressions and an increase of seven hundred thousand
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  Speaker 1: new customers.
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  Speaker 2: And Sydney Sween, his gene collaboration, sold out in just
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  Speaker 2: one week.
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  Speaker 1: Even while the hate comments were rolling in.
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  Speaker 2: Yeah, from a sales suspective b man being talked about
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  Speaker 2: it seems more important than being like but juzzy boy.
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  Speaker 1: Intentionally being a bit risky is a bit of a
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  Speaker 1: fine line, isn't it, Cargne anyone?
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  Speaker 2: Yep.
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  Speaker 1: His contract with added Us was ripped up following his
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  Speaker 1: anti Semitic tirades, which costs added US an estimated five
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  Speaker 1: hundred million euros in operating profit, but.
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  Speaker 2: That year a load. But luckily for American Eagle, it
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  Speaker 2: seems like this PR campaign, he's certainly working for their
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  Speaker 2: share price. Fucks. There is less than fifty days until
• 6:43
  Speaker 2: the end of tax time this year if you're submitting
• 6:46
  Speaker 2: your own tax return, and we've got it all covered
• 6:47
  Speaker 2: step by step in the Flex app in our FY
• 6:50
  Speaker 2: twenty five tax tikit, so if you want to learn more,
• 6:52
  Speaker 2: make sure you downloaded the Flex app and check out
• 6:53
  Speaker 2: the academy this month.
• 6:54
  Speaker 1: Thanks for listening, and we'll see you on Wednesday.