WEBVTT

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Coming up on today's episode, Spotify's new feature could reveal that your favorite artist is actually AI.

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Alex Earl.

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We think she may be one of the smartest content creators in the world right now.

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She's kind of creating her own VC model where she's investing in private companies.

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And so many other celebrities are doing the same thing.

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So we're going to talk about how they're all making a lot of money.

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A few of our favorite things are going to get more expensive.

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Chocolate, coffee.

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And it's all because of a weather pattern called El Nino, which we spoke about a while ago and we're speaking about it again and how it's going to impact the wallet.

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This is The Curve Weekly, where we read the finance news so you don't have to.

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I'm Vic Harris, a finance professional who's had a career making money for other people.

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And I'm Sophie Hallwright, XTV radio producer, who was sick and tired of not understanding how to grow wealth or understand the economy, so we started this podcast.

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But before we dive into today's headlines, a word from our sponsor.

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This episode of The Curve Weekly is made possible by Pathfinder KiwiSaver Plan, helping you invest alongside your values.

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Pathfinder's one mindful money, best ethical investing provider for five years running.

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So we've teamed up with them to bring you the ethical hotline.

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Got questions about the ethics of an investment or unsure where you draw the line?

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Submit your questions via the link in the podcast show notes.

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And thank you so much to Pathfinder for making this episode of The Curve Weekly possible.

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Pathfinder Asset Management Limited is the issuer of the Pathfinder KiwiSaver Plan.

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A product disclosure statement is available at pathfinder.kiwi.

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Vic, I've got a bone to pick with you.

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Actually, the whole team has a bone to pick with you.

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You have officially gone to the dark side and we're not happy about it.

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Literally like the dark side.

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Yeah.

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What is this hideous laptop?

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It's called a ThinkPad.

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It's so that I can put Microsoft, Outlook, Office.

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I can run all of that.

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So for context, okay.

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When Vic first – when we first started the curve, Vic was working in funds management and she had, I want to say, it was almost like a touchscreen computer.

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Like you kept touching – Microsoft service.

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Yeah, you kept touching the screen.

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I was like, oh, my God.

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And then made you make the switch to Apple.

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To Apple.

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And you were, you know, really on board with that.

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I remember being like, oh, my gosh, what is this?

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Like trying to – it's like learning –

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learning how to use a computer all over again.

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And now...

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But you loved Apple, right?

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Yes.

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Like you came to the creative side.

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She had her chic little Apple MacBook, and now there's this hideous thing.

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Now I've gone back to the secure side, Sophie, because we are managing money.

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I'm just like...

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It's so ugly.

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There's a tiny little red dot in the middle of your keypad that looks almost like a...

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It's like a textured thing.

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Is that... That can be the mouse, or you can use the pad.

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Yes.

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There's a little clitoris on the keyboard that you can finger in it.

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It's not.

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Anyway, look, it's really sad to see you go.

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You've left all of us behind and she's gone to something more secure.

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But no, it's because the security that we need is insurmountable.

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And it has, like I even go to use some things and I was like, sorry, contact your IT department.

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I'm like, oh, who's our IT department?

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Yeah.

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We've got a new IT department.

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We do.

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Do you know what I would say is – Because we're dealing with client money and there's so much data.

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We've got IDs.

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We've got like – so it's like we have to be so incredibly secure and Microsoft –

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is more secure than Google.

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I messaged her the other day and I was like, why can't I see your calendar anymore?

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Because I can't book appointments with you because I can't see when you're free.

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She's like, sorry, move to Microsoft.

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Move to Outlook.

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How dare you?

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But no, it makes sense.

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We're very grown up these days.

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We can't have someone hacking the computer that's investing in all this.

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So, yeah.

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And if I lose my iPad, everything gets wiped.

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Everything, it's really like.

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Wow.

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Yeah.

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Quite fun.

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Cool IT.

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I remember back in the day when I worked in my old job and I lost, I left my iPad in an Uber.

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And I was so scared to tell work.

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So I chased it around Sydney for about four hours.

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How do you chase an Uber?

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Because I could see my iPad on my phone.

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And we worked, like all our meeting notes, like everything was on this iPad.

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And I was like, oh, dear gosh.

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And so I was chasing around Sydney.

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And then it pulled up, the Uber pulled up.

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Sorry, it was a taxi in those days.

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And it pulled up in a taxi rank.

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And I knocked on the window and I was like, you've got my iPad.

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And he's like, no, I don't.

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And I was like, yes, you do.

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And I was like, maybe I'm wrong.

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I went back and I checked on my phone.

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And then I saw...

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that taxi pull away from the taxi running so i knew it was that one and i went and i jumped in with these other people in there and it stopped with the lights and i was like give me my ipad and he opened the um i went like rummaging and opened the he'd hidden it yeah in the what do you call the glove box thing yeah and i was like

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God, you were a bit of a detective.

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I know.

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That's a real Sherlock Holmes.

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Yeah, it was.

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But then work was like, Vic, straight away, you tell us.

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And I was like, sorry.

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Because I went back to work.

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I was like, great story for you guys.

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But I found it.

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And my manager was like, no, no.

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The second you lose it, you call us anyway.

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So, yeah, very, very secure, yes.

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But I kind of like it.

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I feel like a bit of a geek again.

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Yeah, yeah, back to your roots.

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And, you know, yeah.

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Just supporting Microsoft, which has done fantastically well, actually.

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So someone messaged us the other day saying that.

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I did.

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Oh.

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Yeah.

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Where was that?

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I messaged you.

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Did you?

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Saying...

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It was like, take that, Soph.

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Did you?

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And it was like, Microsoft has its biggest day and adds $400 billion to its year.

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Was it 17% or something?

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Yeah, it was up.

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I love it.

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I'm like, someone messaged.

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Someone actually did also message, being like, guys, guys, I can't believe you're not reporting on Microsoft.

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I know.

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Yes.

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But, you know, week one, really, of the fund.

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Update.

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Ask how many of the Curve community have invested.

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A lot.

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We've had so many.

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We've had about 300 people, which is absolutely wild.

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How fun.

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We broke the system.

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We, yeah.

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So we've got like a fund administrator who like manages all the app because we don't deal with any money.

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It's very like we have to hand it off to someone else who's very secure to make those things.

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In terms of the actual movements though, not the decisions.

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Sorry, we do decisions, but we have to ask, hey, can you buy Microsoft?

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Can you sell Microsoft?

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All of that.

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So there's like, I guess, a middleman.

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Yeah.

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Middlewoman.

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Middlewoman.

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And anyway, they got to work on Monday and were like, oh my gosh.

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Oh my gosh.

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And it was like all hands on deck.

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So yeah, very excited.

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Everyone broke the system.

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Yes.

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Stunning work.

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We will do a proper fund update ASAP because we need to hear, you know, how's it going?

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How much money's invested?

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So we'll definitely be doing that in the next couple of weeks.

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For everyone who has already supported the Curve Fund, thank you so much.

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It is very bloody exciting to see all of us investing together.

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Yeah, it's pretty amazing.

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Are you in the red or the green this week?

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I am.

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Oh, my God.

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I'm actually in the green.

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Literally.

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I'm in the green.

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I'm wearing a green dress.

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Yes.

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So I sold my bike that my ex-boyfriend gave me two years ago, and it's just been sitting there.

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It's like giving away your engagement ring or something.

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Yeah.

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I sold it.

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Got it.

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Money back.

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I hope you're not listening.

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It's a big.

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£190.

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Yeah, yeah.

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Oh, the thing is, it was a very nice, chic bike.

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Emily, our producer, loved it.

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But I just felt like it was going to get stolen, and I also don't have strong enough thighs to bike on it.

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So anyway, finally sold it.

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Feel very happy about that.

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And also, I sold something else.

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I ordered this dress that looked so bad on me.

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And it was just because I didn't have big enough boobs.

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It was like really saggy on that front bit.

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And I was like, damn, I love this dress.

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But then I just sold it on to someone who wanted it.

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It looked great.

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So I sort of feel like I've got an extra £220 this month right before payday.

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Nice.

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So I'm feeling I'm actually – I went swimming yesterday.

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I've decided to take up swimming.

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And I went, bought goggles, a new cap.

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and earplugs, 40 pounds.

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And I thought, don't worry about it.

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I've sold my bike.

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We have an image of Soxy swimming and her goggles.

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Oh, my God.

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She brought it in.

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It's so funny.

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It's the most ugly look anyone could ever have, for sure.

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And afterwards, for two hours, you have these, like, goggle rings around your eyes.

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It's not cute.

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I mean, you should be like, I'm just a swimmer.

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Yeah, no, I'm just...

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I smell the kilometre.

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Yeah, nice.

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Sorry, quite good.

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Yeah.

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Are you in the red or green?

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I'm in the red.

221
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Little Miso had to get her teeth cleaned yesterday.

222
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Does she have a nice smelling breath now?

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Yeah, and she's got no plaque on her teeth.

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But it cost me 360 pounds.

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Are you joking?

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Hey, it's better than a teeth extraction.

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Can't you just clean her teeth every week?

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Yeah.

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Miso, come show me your teeth.

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Because it's like so easy.

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I tried that.

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You try like you have a finger toothbrush.

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Like there's so many ways.

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Like she just, it's.

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They're looking good.

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Yeah.

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They do look good.

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Yeah.

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But I didn't realize I dropped her off and they were like, yep.

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So I was like, how long does it take?

241
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Like 45 minutes.

242
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I was like, sweet.

243
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I bought my laptop.

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I was like, sweet.

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And they were like, but yeah, so we'll just call you.

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This evening when she's done, I was like, sorry?

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They're like, oh, we have to put her under general anesthetic.

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And I was like, what?

249
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And then I was like, this whole thing.

250
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I was like, oh, my God.

251
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So she was fully asleep for a teeth clean?

252
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Yeah.

253
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Good Lord.

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Yeah, the vets.

255
00:09:22.348 --> 00:09:25.290
They don't really want to be cleaning big dogs' teeth.

256
00:09:25.531 --> 00:09:26.211
They're no messes.

257
00:09:26.792 --> 00:09:32.476
Also, I guess it's like in terms of staying still, like if someone else is cleaning their teeth, I think I find that early on.

258
00:09:32.557 --> 00:09:32.897
Yeah.

259
00:09:33.357 --> 00:09:35.059
And then you think of a dog, you'd be like...

260
00:09:35.639 --> 00:09:49.080
Not good Yeah Anyway Yeah The vet's like so So lovely She is so lovely And I was like Oh But anyway Everyone loves her She's so cute Yeah I really want you to go away again So I can look after her

261
00:09:50.460 --> 00:09:51.261
She had a great time.

262
00:09:51.601 --> 00:09:51.841
Yeah.

263
00:09:51.941 --> 00:09:52.582
Just so you know.

264
00:09:52.642 --> 00:09:54.563
I know she can't tell you, but she did have a great time.

265
00:09:54.984 --> 00:09:58.706
Now, there's been some very good news stories this week, everyone.

266
00:09:58.726 --> 00:09:58.907
Yes.

267
00:09:59.267 --> 00:10:02.189
Let's start with Spotify.

268
00:10:02.269 --> 00:10:02.990
Okay, great.

269
00:10:03.010 --> 00:10:12.797
So Spotify has come out and said that it's going to put an AI little badge on all the artists in Spotify that are AI artists that aren't actual artists.

270
00:10:12.857 --> 00:10:13.138
Great.

271
00:10:13.418 --> 00:10:13.638
Yeah.

272
00:10:13.718 --> 00:10:18.062
Because there has been an absolute backlash of...

273
00:10:19.080 --> 00:10:22.221
people being like, I don't know if this is an AI artist or an actual artist.

274
00:10:22.561 --> 00:10:23.181
And it got me thinking.

275
00:10:23.201 --> 00:10:35.325
I was sitting there going, I mean, unless an artist has toured and I have visibly seen them on stage, there's a lot of artists, not a lot, but there's some artists that I listen to that I don't know if they're AI or not.

276
00:10:35.545 --> 00:10:37.285
I also have terrible taste in music.

277
00:10:37.305 --> 00:10:40.466
So I would be listening to an AI artist and be like, this is.

278
00:10:41.408 --> 00:10:41.928
This is amazing.

279
00:10:41.988 --> 00:10:42.888
I would have not a clue.

280
00:10:43.169 --> 00:10:54.092
So Spotify said from next month it's going to do this, and it's pulled 75 million AI tracks off the platform last year alone out of 100 million.

281
00:10:54.412 --> 00:10:55.012
Oh, that's a lot.

282
00:10:55.032 --> 00:11:01.954
So if you think of that, that's nearly the same size as an entire legitimate catalogue is this AI spam.

283
00:11:02.054 --> 00:11:04.114
Anyway, you'll now be able to see if it's an AI.

284
00:11:04.695 --> 00:11:05.215
And...

285
00:11:06.075 --> 00:11:09.417
Spotify will also drop it out of your kind of personal recommendations.

286
00:11:09.937 --> 00:11:23.224
So it's trying to promote actual artists because it knows that if it doesn't strike the right balance and artists leave the platform, it's a pretty quick death spiral of, okay, well then listeners leave the platform.

287
00:11:23.604 --> 00:11:25.285
So it's like, do you know what I mean?

288
00:11:25.305 --> 00:11:26.726
They have to find the right balance.

289
00:11:26.746 --> 00:11:28.527
Yes, it's cheaper for them to have AI.

290
00:11:28.707 --> 00:11:28.827
Yeah.

291
00:11:29.897 --> 00:11:54.763
artists on there because they don't have to pay anyone they don't have to pay royalties they don't have to pay don't they don't have to pay like why would they not have to then why would anyone even create an ai track well it wouldn't be as much as like yeah but it would definitely be i would definitely be cheaper than having actual artists on there and you can like track and be like okay this this everyone's listening to this ai track let's put more of that out so you know like i just think it's i don't know i think it would be a bad look

292
00:11:56.072 --> 00:11:58.514
And Spotify's just trying to find that right balance.

293
00:11:58.654 --> 00:12:00.094
There's also a lot of regulatory pressure.

294
00:12:00.115 --> 00:12:07.659
There's a lot of regulation coming out, a lot of like AI policies and acts that are like, okay, you need to disclose this.

295
00:12:07.699 --> 00:12:12.482
You know, because, yeah, like with commercials and anything in the creative space, it's like people just want to know.

296
00:12:12.622 --> 00:12:19.286
But even with Claude, there's some watermark coming out where you'll be able to tell if someone's copy and pasted an email straight from Claude.

297
00:12:19.406 --> 00:12:21.367
For like university papers and stuff, yeah.

298
00:12:22.008 --> 00:12:24.130
But also, I love that.

299
00:12:24.510 --> 00:12:27.513
I think that we shouldn't be shaming people for using AI for things.

300
00:12:27.613 --> 00:12:29.055
But I also agree.

301
00:12:29.075 --> 00:12:31.417
The transparency and knowing is really helpful.

302
00:12:31.517 --> 00:12:33.379
But I think it's going to become more and more common.

303
00:12:33.399 --> 00:12:38.944
There's going to be, you know, there's the reputational damage that you have to be careful of.

304
00:12:39.045 --> 00:12:42.048
And I think that's what Spotify is trying to kind of front foot is that...

305
00:12:42.608 --> 00:12:43.688
you know, look, we're doing this.

306
00:12:43.708 --> 00:12:47.830
So it's very clear from a listener point of view, from an artist point of view, like what is, what's not.

307
00:12:47.930 --> 00:12:51.051
Like if you want to go and listen to AI artists, cool, you can.

308
00:12:51.091 --> 00:12:51.792
If you don't, you don't.

309
00:12:51.812 --> 00:12:52.572
You know, like all of that.

310
00:12:52.592 --> 00:12:59.715
They're trying to be quite PC and like cater for everyone, look after the artists while also giving listeners the chance to listen to AI if they want to.

311
00:12:59.855 --> 00:13:00.135
Yes.

312
00:13:00.435 --> 00:13:01.296
Yeah, exactly.

313
00:13:01.596 --> 00:13:08.418
This all came out the same week that Spotify reported its financial result, which has got like over 300 million subscribers now.

314
00:13:08.659 --> 00:13:10.279
So it's like – Can you give context?

315
00:13:10.299 --> 00:13:12.160
Like how much has that grown or like how big is it?

316
00:13:12.180 --> 00:13:13.141
Is that good?

317
00:13:13.361 --> 00:13:13.541
Yeah.

318
00:13:13.681 --> 00:13:18.024
Sorry to sound dumb, but like $300 million, I actually can't even remember if that's like a lot.

319
00:13:18.245 --> 00:13:18.965
That is a lot.

320
00:13:18.985 --> 00:13:19.245
Yeah.

321
00:13:19.465 --> 00:13:27.031
It's now generating close to $6 billion US dollars, which is like, it's just a behemoth.

322
00:13:27.171 --> 00:13:28.392
So it's growing.

323
00:13:28.492 --> 00:13:28.732
Yes.

324
00:13:28.952 --> 00:13:30.574
It had good results, basically.

325
00:13:30.894 --> 00:13:34.176
Universal Music, which actually owns a chunk of Spotify.

326
00:13:34.196 --> 00:13:34.296
Yeah.

327
00:13:35.317 --> 00:13:38.838
So they didn't have a good result.

328
00:13:38.858 --> 00:13:42.119
Well, their result was all boosted off Spotify's growth.

329
00:13:42.479 --> 00:13:45.259
So everyone was like, hang on a second, Spotify put through a price rise.

330
00:13:45.659 --> 00:13:47.960
And to be honest, that was most of Spotify's growth.

331
00:13:48.440 --> 00:13:50.880
What is that they just basically made subscriptions more expensive?

332
00:13:50.900 --> 00:13:55.421
Yeah, I mean, and that's... Just to notify people to say it's going up and you can cancel if you want to.

333
00:13:55.461 --> 00:13:55.801
Yeah.

334
00:13:55.821 --> 00:13:57.842
Imagine sending that email to 300 million people.

335
00:13:58.769 --> 00:13:59.469
Who's cancelling?

336
00:13:59.989 --> 00:14:04.431
But like you do so much modelling on like, okay, we're going to increase it by a dollar.

337
00:14:05.031 --> 00:14:06.672
So that's $300 million.

338
00:14:06.732 --> 00:14:10.213
If 10% churn, it's worth it.

339
00:14:10.373 --> 00:14:12.274
You know, like you're kind of trying to, yeah.

340
00:14:12.294 --> 00:14:14.615
But imagine that, putting it out and then just like,

341
00:14:15.669 --> 00:14:16.650
More people cancelling.

342
00:14:16.670 --> 00:14:17.271
But this is the thing.

343
00:14:17.311 --> 00:14:22.316
If you're so – it would probably take a big price rise for me to cancel my Spotify.

344
00:14:22.637 --> 00:14:24.058
I can't deal with the ads in between.

345
00:14:24.138 --> 00:14:24.719
No, neither.

346
00:14:24.819 --> 00:14:28.102
But then weirdly, I'm still doing no paid YouTube premium.

347
00:14:28.122 --> 00:14:28.943
Do you pay for YouTube?

348
00:14:29.043 --> 00:14:29.364
No.

349
00:14:29.704 --> 00:14:31.326
Yeah, it's so annoying.

350
00:14:31.446 --> 00:14:33.848
All day I'm listening to ads.

351
00:14:33.888 --> 00:14:34.929
I'm like, what am I doing?

352
00:14:35.450 --> 00:14:37.312
But companies that have such deep –

353
00:14:38.904 --> 00:14:40.124
price flexibility like that.

354
00:14:40.204 --> 00:14:46.606
It's quite a genius business model because it's like Apple with their data, their cloud storage.

355
00:14:47.367 --> 00:14:49.227
Hi, you need more.

356
00:14:49.267 --> 00:14:50.328
Where am I going to put it?

357
00:14:50.408 --> 00:14:51.428
Or, hey, it's gone up.

358
00:14:51.508 --> 00:14:54.269
It's like I don't want to lose all my memories.

359
00:14:54.309 --> 00:14:54.629
No.

360
00:14:54.669 --> 00:14:56.450
You know, like preying on the emotive side.

361
00:14:56.470 --> 00:14:57.490
I mean, it's quite clever.

362
00:14:57.550 --> 00:14:57.870
Yeah.

363
00:14:58.090 --> 00:15:00.851
I reckon I've got 16 Apple payments coming out a month.

364
00:15:00.911 --> 00:15:02.151
I'm just like, oh, God.

365
00:15:03.312 --> 00:15:04.692
So, yes, there's an interesting thing, though.

366
00:15:04.772 --> 00:15:06.573
So Universal owns a stake of Spotify.

367
00:15:07.831 --> 00:15:09.592
And it's been selling down, that stake.

368
00:15:10.252 --> 00:15:16.375
And it's sold about $500 million so far and it's got about… Of its stake in Spotify.

369
00:15:16.395 --> 00:15:16.775
Yeah.

370
00:15:16.976 --> 00:15:18.296
Why on earth would you sell down in that?

371
00:15:18.336 --> 00:15:20.397
Isn't that like probably the most valuable thing they own?

372
00:15:20.938 --> 00:15:25.800
I mean, it depends if they can get a better return for that amount of money.

373
00:15:26.360 --> 00:15:29.602
So if Spotify doesn't do well, then the return on the investment is not doing well.

374
00:15:29.962 --> 00:15:32.485
Spotify over the last five years has done so well, hasn't it?

375
00:15:32.505 --> 00:15:33.126
Not recently.

376
00:15:33.326 --> 00:15:33.727
No.

377
00:15:33.887 --> 00:15:35.028
Well, it's share price.

378
00:15:35.108 --> 00:15:36.590
Yeah, in terms of the share price.

379
00:15:36.951 --> 00:15:39.474
So you're constantly looking at like where is the best return on that money?

380
00:15:39.674 --> 00:15:40.816
Is it having it in Spotify?

381
00:15:40.896 --> 00:15:43.179
Is it if we invest in another part of our business?

382
00:15:43.219 --> 00:15:46.663
So anyway, but there is –

383
00:15:47.644 --> 00:16:01.112
Some of that money, so they've been selling down, and Taylor Swift actually organized this back in 2018, was that part of that sell down of that money has to go to the artists.

384
00:16:01.792 --> 00:16:02.913
Oh, she's genius.

385
00:16:02.933 --> 00:16:03.653
Yeah, and it can't be.

386
00:16:03.673 --> 00:16:09.076
So when you sign up to a record label like Universe Music, they might –

387
00:16:10.577 --> 00:16:16.342
They invest in you and then you've kind of got this loan that you have to pay back until you generate royalties.

388
00:16:16.742 --> 00:16:18.043
So they put all this upfront investment in.

389
00:16:18.063 --> 00:16:21.206
It might be like a couple hundred grand or half a million or whatever.

390
00:16:21.486 --> 00:16:22.687
Think of it like a book deal.

391
00:16:22.707 --> 00:16:23.187
You get an advance.

392
00:16:23.207 --> 00:16:24.108
Totally, an advance, yeah.

393
00:16:24.508 --> 00:16:28.711
And then as the royalties come in, it starts paying down that advance.

394
00:16:29.372 --> 00:16:36.358
And she's like, when you sell down your stake in Spotify and that money goes to the artist, it is not to go to –

395
00:16:37.018 --> 00:16:41.623
paying down their loan to you, it has to be an outright payment to the artist.

396
00:16:41.643 --> 00:16:43.685
So like she coined this whole thing.

397
00:16:44.406 --> 00:16:46.127
Anyway, quite incredible.

398
00:16:46.348 --> 00:16:47.068
That's kind of an aside.

399
00:16:47.088 --> 00:16:49.090
But don't they then have to pay it down anyway?

400
00:16:49.150 --> 00:16:50.592
So wouldn't it make sense?

401
00:16:51.012 --> 00:16:55.237
Yeah, but it's almost like you can get, the artist can get the cash in their hand effectively.

402
00:16:55.457 --> 00:16:55.837
Yeah.

403
00:16:56.017 --> 00:16:58.039
You know, it's like if I had this loan...

404
00:16:58.880 --> 00:17:22.175
like my mortgage and yeah i could be like maybe i'll put half there yeah but the other half i want to spend anyway it was just like quite interesting that when they do sell down part of that goes to the artists that's amazing and this whole thing that she and i was just like gosh she's great she's my favorite yeah we also have some news out with alex earl yes i'm she is i cannot deal how much she posts like really

405
00:17:22.595 --> 00:17:23.516
How much is she posting?

406
00:17:23.616 --> 00:17:26.799
It's like, I want to say like 10 posts a day.

407
00:17:26.879 --> 00:17:27.159
No.

408
00:17:27.259 --> 00:17:28.400
It's insane.

409
00:17:28.640 --> 00:17:29.241
On TikTok?

410
00:17:29.301 --> 00:17:29.641
Yeah.

411
00:17:30.222 --> 00:17:31.903
I'm like, how does she have that much time?

412
00:17:31.923 --> 00:17:34.125
Because she has that many people in her team.

413
00:17:34.385 --> 00:17:35.586
But she's supposed to do her voiceovers.

414
00:17:35.606 --> 00:17:36.347
She's supposed to film her.

415
00:17:36.367 --> 00:17:38.088
She's like, I'm just kind of, gosh.

416
00:17:38.128 --> 00:17:40.470
I mean, she would work so hard.

417
00:17:40.490 --> 00:17:40.671
So hard.

418
00:17:40.691 --> 00:17:41.011
I think that.

419
00:17:41.351 --> 00:17:51.797
This is what I'm quite glad about with these types of stories and what we're basically talking about is that she's being a really clever businesswoman with what she's doing with her business.

420
00:17:51.837 --> 00:17:53.617
And we'll explain exactly how it's working.

421
00:17:53.657 --> 00:18:04.023
But I like that someone like her where in the past people would look at her content, what she even looks like, just assume like content.

422
00:18:04.603 --> 00:18:08.724
Actually, what she's doing is unbelievably clever and going to make her so much money.

423
00:18:09.064 --> 00:18:09.744
So much money.

424
00:18:09.864 --> 00:18:13.185
Like, I know, people would look at her and go... You're just an influencer.

425
00:18:13.325 --> 00:18:20.047
You're just dancing around in a bikini in Europe and you're just like having, you know, like posting about it and getting drunk.

426
00:18:20.127 --> 00:18:22.467
She's the one laughing in the corner with so much money.

427
00:18:22.547 --> 00:18:24.408
I'm like, I would... That sounds like...

428
00:18:24.928 --> 00:18:27.909
Quite iconic to be doing that and making money off it.

429
00:18:28.029 --> 00:18:28.309
Yeah.

430
00:18:28.609 --> 00:18:38.111
Anyway, she has got 14 million TikTok followers and she's quietly kind of building her own little venture capital firm.

431
00:18:38.311 --> 00:18:40.611
So she has started to invest in companies.

432
00:18:40.671 --> 00:18:42.712
Now, the first one, which we may remember.

433
00:18:42.972 --> 00:18:48.373
Before we go into what she's invested in, let's explain a venture capital firm.

434
00:18:48.533 --> 00:18:48.893
Yeah.

435
00:18:48.994 --> 00:18:56.202
So VCs are like businesses that invest in companies that are very early stage and also have quite high growth potential.

436
00:18:56.282 --> 00:19:01.448
So often they'll invest quite a lot of money in these ideas that sound kind of outrageous.

437
00:19:01.648 --> 00:19:06.673
And the idea is that only one of them probably will pay off or become a unicorn or be super, super successful.

438
00:19:07.134 --> 00:19:08.155
And that's the business model.

439
00:19:08.215 --> 00:19:09.396
It's super high risk.

440
00:19:09.897 --> 00:19:12.400
quite big investment and then, you know.

441
00:19:12.801 --> 00:19:14.944
So businesses, it's often tech businesses.

442
00:19:15.204 --> 00:19:20.411
It's usually companies, yes, that are like, it might be an idea, they might not have any revenue yet.

443
00:19:20.431 --> 00:19:21.592
They're very, very early stage.

444
00:19:21.692 --> 00:19:26.719
And these VC firms will invest, yeah, in maybe like –

445
00:19:28.340 --> 00:19:33.883
10, 20, 30 different companies because the success rate of startups is so low.

446
00:19:34.023 --> 00:19:36.905
It's like the success rate's like 90% of them fail kind of thing.

447
00:19:36.985 --> 00:19:39.706
So you've got to kind of cast the net wide.

448
00:19:40.126 --> 00:19:41.267
Cast the net wide.

449
00:19:41.987 --> 00:19:43.788
And I guess the kind of the evolution is that

450
00:19:44.348 --> 00:19:46.609
VCs, they kind of go first into businesses.

451
00:19:46.729 --> 00:19:52.892
Then private equity would probably come in and they'd go second once the business is a bit more mature or got a bit more traction.

452
00:19:53.292 --> 00:19:57.713
Then you become a public company, for example, and that's when like a fund by the curve fund would invest.

453
00:19:57.733 --> 00:20:00.154
So it's like there's evolutions in different stages.

454
00:20:00.294 --> 00:20:04.296
And before a VC invests, you may have also done angel investing or high net worth.

455
00:20:04.316 --> 00:20:06.377
Yes, or friends and family or like something like that.

456
00:20:06.517 --> 00:20:06.817
Yeah.

457
00:20:06.897 --> 00:20:10.879
So she is – because she's got such big reach –

458
00:20:11.999 --> 00:20:16.863
And she must be asked to promote different brands all the time because of her reach.

459
00:20:17.724 --> 00:20:27.030
She has decided, you know what, I'm actually going to invest money into some of these businesses because I know when I post about it, it's going to go off.

460
00:20:27.291 --> 00:20:28.051
People are going to buy it.

461
00:20:28.091 --> 00:20:28.752
Revenue is going to go up.

462
00:20:28.772 --> 00:20:29.452
Profit is going to go up.

463
00:20:29.532 --> 00:20:31.614
So why not get a bit of money?

464
00:20:31.914 --> 00:20:33.175
get a bit of skin in the game.

465
00:20:33.436 --> 00:20:38.500
Question, is she putting money in or is it in exchange for marketing that she gets equity?

466
00:20:38.600 --> 00:20:38.981
Don't know.

467
00:20:39.041 --> 00:20:40.382
Every deal would be structured differently.

468
00:20:40.402 --> 00:20:41.163
Gosh.

469
00:20:41.463 --> 00:20:44.385
I think her posts and feed are half a million.

470
00:20:45.386 --> 00:20:51.992
So if she was to promote something six, ten times in a year, that is millions and millions of marketing budget.

471
00:20:53.033 --> 00:20:57.800
I wouldn't be surprised if a lot of what she's doing is actually just like an exchange.

472
00:20:57.840 --> 00:20:58.521
I mean, who knows?

473
00:20:58.802 --> 00:20:59.022
Yeah.

474
00:20:59.042 --> 00:21:00.824
We obviously wouldn't have access to know that.

475
00:21:00.845 --> 00:21:03.969
But I would say she's probably clever enough to know.

476
00:21:03.989 --> 00:21:07.754
I would rather not take a fee up front.

477
00:21:08.908 --> 00:21:11.850
And potentially have millions and millions of dollars if this business sells.

478
00:21:11.950 --> 00:21:13.231
Yeah, it's probably a combination of both.

479
00:21:13.251 --> 00:21:17.313
It's probably like, okay, look, we need a $2 million investment.

480
00:21:18.194 --> 00:21:20.235
The company, we need a $2 million investment.

481
00:21:20.896 --> 00:21:26.839
You know, can you, you know, $1 million of that we can get in, you know, an equity exchange kind of thing for you to post.

482
00:21:26.919 --> 00:21:28.320
Or I don't know how it would be structured.

483
00:21:28.760 --> 00:21:29.901
But you're right.

484
00:21:29.961 --> 00:21:32.303
It's like if you can value what it is to post something.

485
00:21:33.003 --> 00:21:36.666
then you can value what it would be if you actually got equity in that business.

486
00:21:36.707 --> 00:21:39.930
A lot of these good businesses probably need the money at the same time.

487
00:21:40.410 --> 00:21:44.574
So it's smart from the business point of view to go to someone that might have money but also reach.

488
00:21:45.074 --> 00:21:46.276
You know, you kind of get double whammy.

489
00:21:47.216 --> 00:21:50.279
But the first one she did was Poppy.

490
00:21:50.359 --> 00:21:51.861
Oh, my gosh.

491
00:21:51.881 --> 00:21:52.261
Yeah.

492
00:21:52.281 --> 00:21:53.923
I didn't realize she did that.

493
00:21:53.963 --> 00:21:55.504
That sold to PepsiCo for $2 billion.

494
00:21:55.584 --> 00:21:55.925
Oh, my gosh.

495
00:21:56.545 --> 00:21:59.966
So even if she had 1% equity in that, that's still massive.

496
00:22:00.026 --> 00:22:00.806
She is genius.

497
00:22:00.906 --> 00:22:02.006
Oh, my God.

498
00:22:02.086 --> 00:22:02.906
That's so cool.

499
00:22:02.946 --> 00:22:04.506
I had no idea she was invested in that.

500
00:22:04.546 --> 00:22:04.966
Yeah.

501
00:22:05.027 --> 00:22:07.547
I wonder if – was she one of the main people that was drinking it early?

502
00:22:07.567 --> 00:22:07.947
Yeah.

503
00:22:07.967 --> 00:22:10.247
It must have been why it gained so much traction.

504
00:22:10.407 --> 00:22:11.348
And smart from them.

505
00:22:11.668 --> 00:22:12.388
So smart.

506
00:22:12.468 --> 00:22:19.569
I was trying to find stats around return on investment from content creator marketing.

507
00:22:19.589 --> 00:22:24.690
And what I found is that every dollar that's spent – and I guess it depends on which –

508
00:22:25.250 --> 00:22:30.515
which creator, right, and which person, sorry, which creator does the marketing.

509
00:22:31.516 --> 00:22:36.261
But it earns roughly about five to six times that in sales.

510
00:22:36.561 --> 00:22:41.126
If you paid Alex Earl half a million to a post, then it's getting three million in sales.

511
00:22:41.426 --> 00:22:44.249
Obviously, massively depends on the person.

512
00:22:44.269 --> 00:22:44.709
Totally.

513
00:22:44.729 --> 00:22:47.952
But even if it was a smaller influencer and you were like, cool, we're going to pay 10 grand.

514
00:22:48.733 --> 00:22:51.054
you know, the expectation is that that's going to bring in 30 grand of sales.

515
00:22:51.234 --> 00:22:51.754
Yeah.

516
00:22:52.174 --> 00:22:59.196
So is the floor, you should be doing three times what we invest in terms of return on their investment as a marketing?

517
00:23:00.456 --> 00:23:01.817
Anything over one.

518
00:23:02.697 --> 00:23:05.238
You know, like if you're spending 10 grand and you're getting back 11 grand.

519
00:23:06.058 --> 00:23:07.219
that's a no-brainer.

520
00:23:07.279 --> 00:23:16.663
You know, it should always be greater than one in terms of your – but then you might have something over here that's generating a higher return on investment.

521
00:23:16.683 --> 00:23:23.646
What's kind of crazy to think is, like, let's just say that she – a post was worth $500,000, so half a million.

522
00:23:24.027 --> 00:23:26.888
Think how many poppy drinks would need to be sold –

523
00:23:27.208 --> 00:23:27.788
Yeah, yeah.

524
00:23:27.848 --> 00:23:30.650
I mean, they're like three pounds, $3.50, whatever.

525
00:23:30.930 --> 00:23:32.591
You know, they're not exactly expensive.

526
00:23:32.711 --> 00:23:32.951
Yeah.

527
00:23:32.971 --> 00:23:35.532
The units that one post would have to shift.

528
00:23:36.012 --> 00:23:40.414
And also to be able to track the data of like, did that equal this would be so hard.

529
00:23:40.714 --> 00:23:41.055
Yeah.

530
00:23:41.255 --> 00:23:48.718
She has invested in Symbiotica, which is a like vitamin squeezy supplement like pouch thing.

531
00:23:49.439 --> 00:23:51.439
And she said she's been using it for years.

532
00:23:51.840 --> 00:23:52.200
And...

533
00:23:53.338 --> 00:23:59.181
What I was gathering with all of these things that she's invested in, it's like prebiotic soda for Poppy.

534
00:23:59.301 --> 00:24:00.301
It's energy drinks.

535
00:24:00.582 --> 00:24:02.202
It's the supplement brand.

536
00:24:02.402 --> 00:24:04.063
It's all in health and wellness space.

537
00:24:04.103 --> 00:24:04.484
Yeah.

538
00:24:04.844 --> 00:24:09.066
And I just think she is nailing so many different growth areas here from like...

539
00:24:09.626 --> 00:24:11.687
Well, sorry, the companies are.

540
00:24:11.747 --> 00:24:13.228
You're in the health of wellness.

541
00:24:13.248 --> 00:24:14.169
You're in the creative economy.

542
00:24:14.189 --> 00:24:15.169
You're like, it's just...

543
00:24:15.509 --> 00:24:16.950
But I think that's a really good point.

544
00:24:16.970 --> 00:24:27.416
If you look at someone's value or what they can add or them as a little VC model if they were doing this, there are some industries that are booming and there's some that are not.

545
00:24:27.516 --> 00:24:30.058
And it's really hard to make money in some industries.

546
00:24:30.478 --> 00:24:38.563
So the fact that she's placed herself so well in this huge trend that is people wanting to live longer, be healthier...

547
00:24:38.743 --> 00:24:42.246
Even her real actives, her like skincare brand is all about like health and wellness.

548
00:24:42.306 --> 00:24:44.067
Yeah, she's absolutely nailed it.

549
00:24:44.107 --> 00:24:46.850
Can we talk about this new investment she's made, Symbiotica?

550
00:24:46.930 --> 00:24:53.415
Because it's a really interesting brand and could be another big buyout like Poppy Soda.

551
00:24:53.435 --> 00:24:59.780
Yeah, so it has made $150 million in US dollars in sales last year.

552
00:25:01.041 --> 00:25:04.562
And it raised $25 million in January this year.

553
00:25:05.122 --> 00:25:10.024
And the other people that have invested is The Weeknd, Zac Efron, Jonas Brothers.

554
00:25:10.124 --> 00:25:12.165
So they've got a pretty good lineup.

555
00:25:12.185 --> 00:25:14.465
And they're in about 3,000 stores.

556
00:25:15.046 --> 00:25:20.627
So look, I wouldn't say this is kind of venture capital because it's quite well advanced, like when we were talking about before.

557
00:25:20.647 --> 00:25:21.828
But it is...

558
00:25:22.848 --> 00:25:30.432
Yeah, she's joining a cap table that has got some big names on there with also some really big reach.

559
00:25:30.472 --> 00:25:41.058
I think what's quite interesting about this whole thing is people are, I think, investing in businesses and ownership is becoming way more valuable.

560
00:25:41.898 --> 00:25:43.519
mainstream and spoken about.

561
00:25:43.699 --> 00:25:49.322
The fact that the weekend, Zac Efron and the Jonas Brothers have invested, lol, the Jonas Brothers.

562
00:25:49.402 --> 00:26:05.731
But like the fact that they are investing in these private companies, I don't know if it's that we all of a sudden just know about it and we're starting to talk about it more or if it's just becoming more normal that people realize to make real long-term wealth, investing in companies like this is the way to go.

563
00:26:05.751 --> 00:26:06.512
100%.

564
00:26:06.532 --> 00:26:10.674
And I think it's also like, you know, you're only going to be a singer or an actor for so long.

565
00:26:10.694 --> 00:26:10.814
Right.

566
00:26:10.994 --> 00:26:12.455
It's almost like future-proofing.

567
00:26:12.475 --> 00:26:12.795
Yeah.

568
00:26:12.835 --> 00:26:22.700
Whether you're a big sports person or an artist, if you've got your time in the sun now and you have the money, try and diversify the way that you can make future wealth.

569
00:26:22.800 --> 00:26:24.220
And that's like anyone, right?

570
00:26:24.801 --> 00:26:27.502
If you've got – put money aside and invest it –

571
00:26:28.679 --> 00:26:35.988
So that then you do have that diversification so that you are growing wealth while you're kind of earning a salary or a wage.

572
00:26:36.729 --> 00:26:40.373
But we can all be doing this in a smaller scale.

573
00:26:40.854 --> 00:26:41.835
And we should be doing this.

574
00:26:41.895 --> 00:26:43.076
If there's a brand that you love...

575
00:26:44.053 --> 00:26:45.254
You know, can you invest in it?

576
00:26:45.354 --> 00:26:51.621
Can you be, you know, a promoter of it in a much smaller scale than 14 million TikTok followers?

577
00:26:51.681 --> 00:26:59.870
But, you know, you can be out there talking to your friends, being like, I love this drink and I love this, you know, like that's your being a little salesperson as well.

578
00:26:59.890 --> 00:27:00.851
And you're benefiting from it.

579
00:27:00.891 --> 00:27:05.315
And also when you buy the product, you know, it's actually kind of part of that's going back into your pocket.

580
00:27:05.936 --> 00:27:06.738
If you're an investor in it.

581
00:27:06.758 --> 00:27:07.960
You can be Alex Earl.

582
00:27:08.281 --> 00:27:09.744
You can be Alex Earl.

583
00:27:10.025 --> 00:27:10.987
That's what I did with Almighty.

584
00:27:11.047 --> 00:27:12.369
I freaking love Almighty.

585
00:27:12.390 --> 00:27:12.810
Me too.

586
00:27:12.911 --> 00:27:13.211
Yeah.

587
00:27:13.291 --> 00:27:14.133
Love Almighty.

588
00:27:14.193 --> 00:27:17.119
And now I don't feel as guilty when I drink it like all day every day.

589
00:27:17.952 --> 00:27:18.513
Yeah, yeah, yeah.

590
00:27:18.533 --> 00:27:20.875
You know, it's like, yeah, you feel less guilty.

591
00:27:20.895 --> 00:27:24.118
But it's also the same when you buy shares in, like, public companies.

592
00:27:24.858 --> 00:27:26.140
It doesn't have to be private companies.

593
00:27:26.160 --> 00:27:27.521
You can do it in public companies.

594
00:27:27.541 --> 00:27:33.566
Like, if you buy Apple shares and you go buy an iPhone, you know, that money's kind of coming back into your wallet in a roundabout way.

595
00:27:33.586 --> 00:27:37.350
Not you, now that you've joined the bloody notebooks of the world.

596
00:27:37.390 --> 00:27:39.352
No, but, you know, my shares in Microsoft are now...

597
00:27:39.872 --> 00:27:40.673
paying off.

598
00:27:40.753 --> 00:27:41.073
True.

599
00:27:41.093 --> 00:27:41.314
True.

600
00:27:41.654 --> 00:27:52.945
I think we should do an episode or another story another time about the creator economy because there is so much money being made in this space and it's so interesting to see how many famous cap tables there are.

601
00:27:53.386 --> 00:27:54.347
I was even looking at...

602
00:27:55.728 --> 00:27:57.350
Bill Gates' daughter's company.

603
00:27:57.531 --> 00:28:00.494
And you look at the people that have invested, it's like Kim Kardashian.

604
00:28:00.595 --> 00:28:01.916
Like, you know, it's crazy.

605
00:28:02.137 --> 00:28:08.184
And I do think that that loop between celebrities and business is becoming so much more blurred.

606
00:28:08.545 --> 00:28:09.125
Blurred?

607
00:28:09.486 --> 00:28:10.567
What is going on with my mouth?

608
00:28:10.587 --> 00:28:10.768
Blurred.

609
00:28:11.228 --> 00:28:13.469
It's a really interesting space.

610
00:28:13.509 --> 00:28:14.489
I'd love to look at that more.

611
00:28:14.589 --> 00:28:19.271
But should we quickly talk about Alex Cooper and how much money her media business is making?

612
00:28:19.451 --> 00:28:26.673
So as I was researching for Alex Earle, Alex Cooper came out and announced that her media company Unwell has hit a $500 million valuation.

613
00:28:27.233 --> 00:28:31.535
So this means that they've had private equity investment.

614
00:28:31.655 --> 00:28:37.456
So when you have a private company, it's not like when you're public, your shares are traded every single day.

615
00:28:37.476 --> 00:28:38.917
So the value of your business is...

616
00:28:40.168 --> 00:28:41.970
You can tell what it is every single day.

617
00:28:42.370 --> 00:28:52.138
Whereas when you're a private company, you only know the value when there is a transaction or someone values it or you get an external investor or you sell a part or like something like that.

618
00:28:52.158 --> 00:28:57.482
So, for example, with us, when we raised capital two years ago, we had a valuation that was struck.

619
00:28:58.042 --> 00:29:03.208
And that valuation is technically still its value because it hasn't been – we haven't raised again.

620
00:29:03.228 --> 00:29:04.449
No one's invested again.

621
00:29:04.990 --> 00:29:12.537
So even though the value can increase or decrease, it's really the only yardstick you have to value a company.

622
00:29:12.597 --> 00:29:13.859
And it's only when there's a transaction.

623
00:29:13.879 --> 00:29:17.963
And there's a transaction every single day when you're a public company, but there's not when you're private.

624
00:29:18.043 --> 00:29:19.424
So they've had –

625
00:29:20.305 --> 00:29:27.775
An investment from a private equity company, Silver Lake, and then another media, entertainment, sports investment firm that's put money in.

626
00:29:28.096 --> 00:29:30.819
And so it's valued the business at $500 million.

627
00:29:30.839 --> 00:29:35.145
That's so much money.

628
00:29:36.120 --> 00:29:41.462
Yeah, they've bootstrapped it till then and self-funded it and it's been profitable since day one.

629
00:29:42.423 --> 00:29:49.146
And they've never needed outside money to survive and they've now taken it to kind of accelerate and fund acquisitions.

630
00:29:49.626 --> 00:29:59.970
Their audience is also 90% female, 72% between the age of 18 to 35 and they've got about 100 million followers across their platforms.

631
00:30:00.791 --> 00:30:03.932
And Alex Cooper said that 70 million women engaged with the brand today.

632
00:30:04.993 --> 00:30:05.574
Every month.

633
00:30:06.315 --> 00:30:07.116
It's insane.

634
00:30:07.577 --> 00:30:09.459
And I think this...

635
00:30:10.220 --> 00:30:11.542
It just shows the...

636
00:30:11.662 --> 00:30:15.187
I think also the value people are putting on the woman's economy.

637
00:30:16.029 --> 00:30:17.791
Not just the creator economy.

638
00:30:17.871 --> 00:30:18.692
Like there is...

639
00:30:19.935 --> 00:30:27.560
Like women are a real asset class now and Unwell has such a reach to women in particular.

640
00:30:28.581 --> 00:30:36.707
I also wonder if it's worth just talking about the revenue because people might be listening thinking, how on earth is a media company worth $500 million?

641
00:30:37.347 --> 00:30:42.311
And I know that that's a question a lot of people think when it comes to media, like how does it make money?

642
00:30:42.331 --> 00:30:44.692
Because everyone would just assume that it's sponsorships.

643
00:30:45.513 --> 00:30:46.093
But it's not.

644
00:30:46.113 --> 00:30:48.534
This business has diversified so enormously.

645
00:30:48.554 --> 00:30:48.934
Yeah.

646
00:30:49.074 --> 00:30:55.756
So let's just quickly give an overarching view of how this business has been valued so high.

647
00:30:55.996 --> 00:31:04.138
So she has her podcast, obviously, which is on SiriusXM, which pays them $30 million a year to be on that platform.

648
00:31:04.478 --> 00:31:07.019
Which basically means you can only access her podcast there.

649
00:31:07.039 --> 00:31:08.460
So they're paid for exclusivity.

650
00:31:08.540 --> 00:31:08.720
Yeah.

651
00:31:09.020 --> 00:31:12.041
And that's on top of her $125 million personal deal.

652
00:31:12.341 --> 00:31:14.102
She's got TV and film.

653
00:31:14.162 --> 00:31:15.842
So she's got her Netflix series.

654
00:31:16.562 --> 00:31:20.064
She's got live events, which over 150,000 people attended.

655
00:31:20.564 --> 00:31:23.925
She's got a creative ad agency, consumer products.

656
00:31:24.065 --> 00:31:25.746
There's so many different revenue streams.

657
00:31:25.866 --> 00:31:27.947
It's creating worlds around brands.

658
00:31:28.007 --> 00:31:31.428
And that's definitely what we're seeing in general across the board, because, you know,

659
00:31:31.548 --> 00:31:36.090
People are monetizing a brand as an entire ecosystem.

660
00:31:36.130 --> 00:31:41.473
It's not just, yeah, like what you hear or see on her social media, on her podcast.

661
00:31:41.573 --> 00:31:44.974
There's so many things that surround that brand that she makes money from.

662
00:31:44.994 --> 00:31:45.395
Yeah.

663
00:31:45.795 --> 00:31:54.419
And I think this is, I was like, I wonder how gutted you'd be seeing Alex Earl be like so incredibly successful.

664
00:31:54.439 --> 00:31:57.000
But is she more, what's more valuable right now?

665
00:31:57.080 --> 00:32:00.022
Alex Earl as her sort of a little venture capital or...

666
00:32:01.042 --> 00:32:03.225
Or Alex Cooper and $500 million.

667
00:32:03.245 --> 00:32:04.827
I feel like Alex Cooper is...

668
00:32:05.388 --> 00:32:06.349
It's so hard to tell.

669
00:32:06.409 --> 00:32:09.673
I reckon Alex Cooper would be more diversified, but I think Alex Earl would be worth more.

670
00:32:10.314 --> 00:32:11.456
But she's an individual.

671
00:32:11.496 --> 00:32:15.841
She hasn't got like a... Like Alex Cooper has created a media company.

672
00:32:16.102 --> 00:32:17.444
Alex Cooper...

673
00:32:17.844 --> 00:32:19.305
God, it's annoying their names both Alex.

674
00:32:19.345 --> 00:32:23.569
But Alex Cooper probably would have much, much, much higher outgoings, right?

675
00:32:24.029 --> 00:32:31.996
And that's why she now has taken external capital, whereas it feels to me like Alex Earl would be probably a tighter operation with higher...

676
00:32:32.417 --> 00:32:34.138
They're just so different.

677
00:32:34.158 --> 00:32:37.701
Do we have any yardstick on how much Alex Earl's worth?

678
00:32:37.841 --> 00:32:39.543
Like, is there any way of knowing that?

679
00:32:39.563 --> 00:32:41.925
I guess because a lot of her investments are private, you can't really tell.

680
00:32:42.225 --> 00:32:43.466
Yeah, and...

681
00:32:44.547 --> 00:32:45.468
What would be individual?

682
00:32:45.488 --> 00:32:46.428
What would be as a company?

683
00:32:46.468 --> 00:32:49.670
Like, what, like, yeah, I feel like there'd be so much in that.

684
00:32:49.750 --> 00:32:55.273
But, yeah, I think probably Alex Earl would be marginally more successful.

685
00:32:55.673 --> 00:32:56.954
God, it's so crazy.

686
00:32:57.755 --> 00:33:00.036
But, anyway, yeah, go the gals.

687
00:33:00.696 --> 00:33:01.577
Go the Alex's.

688
00:33:01.637 --> 00:33:02.477
Go the Alex's.

689
00:33:02.597 --> 00:33:03.178
I just want...

690
00:33:03.848 --> 00:33:06.111
I'm desperate for a documentary on what happened.

691
00:33:06.131 --> 00:33:06.551
Same, I know.

692
00:33:06.571 --> 00:33:07.792
Someone tell me while they fell out.

693
00:33:07.812 --> 00:33:08.213
Give us a teller.

694
00:33:08.273 --> 00:33:09.194
I want to know the team.

695
00:33:09.254 --> 00:33:09.474
Yeah.

696
00:33:09.494 --> 00:33:10.936
Massively, massively want to know.

697
00:33:11.136 --> 00:33:16.442
Imagine if they're actually secretly friends and totally in business together and they come out and they're like, kidding, we got you all.

698
00:33:16.602 --> 00:33:20.226
But like Alex Cooper, you did it to Sophia and now you've done it to, like, watch out girl.

699
00:33:20.246 --> 00:33:21.327
Oh, yeah.

700
00:33:21.387 --> 00:33:23.710
I want a Sophia Alex Earl podcast.

701
00:33:23.730 --> 00:33:23.790
Oh.

702
00:33:25.677 --> 00:33:26.477
Sorry.

703
00:33:26.718 --> 00:33:28.238
We're like really encouraging the drama.

704
00:33:28.258 --> 00:33:29.399
The drama, yeah, yeah, yeah.

705
00:33:29.719 --> 00:33:30.019
Oh, God.

706
00:33:30.099 --> 00:33:36.622
Coming up after the break, we're talking about why it is absolutely brown and terrifying.

707
00:33:36.642 --> 00:33:37.942
So effing hot here.

708
00:33:38.222 --> 00:33:38.763
Yes.

709
00:33:38.803 --> 00:33:39.703
It's not looking good.

710
00:33:39.763 --> 00:33:41.264
It's not looking good for global warming.

711
00:33:41.324 --> 00:33:43.645
It's not – I mean – We're going to talk about the weather.

712
00:33:45.030 --> 00:33:46.271
It sounds boring, doesn't it?

713
00:33:46.291 --> 00:33:47.211
I know.

714
00:33:47.231 --> 00:33:48.672
No, El Nino, Making It Come Back.

715
00:33:48.692 --> 00:33:50.993
That was one of our most listened to podcasts for The Curve Weekly.

716
00:33:51.213 --> 00:33:51.373
Yeah.

717
00:33:51.433 --> 00:33:52.754
I told you I can make anything great.

718
00:33:52.774 --> 00:33:53.554
Yeah, I know.

719
00:33:53.594 --> 00:33:53.874
Weather.

720
00:33:54.014 --> 00:33:54.855
I can make weather chat.

721
00:33:55.075 --> 00:33:55.495
Do not.

722
00:33:55.515 --> 00:33:56.055
Fantastic.

723
00:33:56.095 --> 00:33:57.896
You want to hear the weather chat, guys.

724
00:33:58.136 --> 00:33:58.576
Stick around.

725
00:33:58.596 --> 00:33:59.277
Storm is coming.

726
00:33:59.397 --> 00:34:01.178
But first, we've got a quick word from today's sponsor.

727
00:34:01.918 --> 00:34:08.641
I invest so much more now, but I still don't feel great about profiting from companies that I don't believe in.

728
00:34:08.661 --> 00:34:09.601
You know, weapons.

729
00:34:09.701 --> 00:34:12.843
I just, I personally do not want to be making money from conflict.

730
00:34:13.063 --> 00:34:16.744
But what about weapons companies that supply both sides of the conflict?

731
00:34:17.024 --> 00:34:17.825
Pretty confusing, right?

732
00:34:17.845 --> 00:34:18.065
I know.

733
00:34:18.125 --> 00:34:19.245
It's so confusing.

734
00:34:19.585 --> 00:34:21.206
And I feel like I'm not alone in that.

735
00:34:21.346 --> 00:34:21.546
Yeah.

736
00:34:21.726 --> 00:34:38.052
I mean, 80% of New Zealand investors don't want weapons in their KiwiSaver, yet Mindful Money reports that over $400 million is still invested in weapons manufacturers, which is why choosing the right provider matters, like Pathfinder KiwiSaver Plan, which aims to avoid profiting from conflict.

737
00:34:38.132 --> 00:34:46.296
They've been recognized as weapons-free by Mindful Money and written loads of blogs on this topic, even covering their position on Gaza, which a lot of people have avoided.

738
00:34:46.336 --> 00:34:52.960
So if you want to check out our podcast show notes to learn more, and thanks so much to Pathfinder for making this episode of The Curve Weekly possible.

739
00:34:53.160 --> 00:34:56.922
Pathfinder Asset Management Limited is the issuer of the Pathfinder KiwiSaver plan.

740
00:34:57.082 --> 00:35:00.104
A product disclosure statement is available at pathfinder.kiwi.

741
00:35:00.584 --> 00:35:02.226
I went to Hyde Park in the weekend.

742
00:35:02.366 --> 00:35:03.127
It's a good story.

743
00:35:03.227 --> 00:35:03.548
Yeah.

744
00:35:03.728 --> 00:35:04.769
I was like, you know what?

745
00:35:04.809 --> 00:35:06.011
I'm going to give Mesa a run around.

746
00:35:06.051 --> 00:35:06.892
I'm back in London.

747
00:35:06.932 --> 00:35:08.694
I'm going to go to Hyde Park, go for a walk.

748
00:35:09.655 --> 00:35:13.860
I got there and I was gobsmacked.

749
00:35:14.621 --> 00:35:15.442
There was no grass.

750
00:35:16.663 --> 00:35:17.565
Like I have a photo.

751
00:35:17.585 --> 00:35:17.685
Yeah.

752
00:35:18.623 --> 00:35:19.804
which we will post.

753
00:35:20.324 --> 00:35:21.404
Oh, we'll put it on the screen now.

754
00:35:21.524 --> 00:35:23.265
If you're not watching, have a quick look.

755
00:35:23.485 --> 00:35:26.427
It honestly looks like, I can't even explain it.

756
00:35:26.987 --> 00:35:27.547
It's like barren.

757
00:35:27.747 --> 00:35:28.648
Is there grass?

758
00:35:28.708 --> 00:35:30.489
It's just brown or is it fun to dirt?

759
00:35:30.509 --> 00:35:31.509
It just looks like dirt.

760
00:35:31.689 --> 00:35:33.010
Wow, that's really sad.

761
00:35:33.270 --> 00:35:39.073
And it was actually one thing I noticed when I got back to London from New Zealand, being away for a month, was how un-green.

762
00:35:39.433 --> 00:35:40.573
There's just no greenery.

763
00:35:41.154 --> 00:35:42.034
It's all brown.

764
00:35:42.254 --> 00:35:46.095
So we're in a drought over here and you're not allowed to use hoses.

765
00:35:46.115 --> 00:35:46.816
There's hose bands.

766
00:35:46.836 --> 00:35:52.798
Like everyone's gardens, I mean, not that that's the issue, but yeah, you look everywhere and the grass is completely dead.

767
00:35:53.038 --> 00:36:04.101
It's sad because like that's also one of the things that makes summer so beautiful is when all of the trees are flourishing and the grass is so bright and green and it just is so, it's desert-y.

768
00:36:04.121 --> 00:36:05.042
It's scary.

769
00:36:05.342 --> 00:36:07.522
It's outrageously fucking hot as well.

770
00:36:07.582 --> 00:36:10.163
This heat wave, it's no longer heat wave.

771
00:36:10.243 --> 00:36:11.544
It's just permanently hot.

772
00:36:11.604 --> 00:36:11.784
Yeah.

773
00:36:12.584 --> 00:36:15.407
I just get like knee sweats like under behind my knee.

774
00:36:15.707 --> 00:36:16.748
It's really weird.

775
00:36:16.768 --> 00:36:17.529
Like it's boiling.

776
00:36:17.609 --> 00:36:21.152
Today it is 36 degrees and people might be like, oh, that's not actually that bad.

777
00:36:21.192 --> 00:36:26.497
But in London, you know, when it's like, oh, it's 12 degrees, but it feels like eight.

778
00:36:26.697 --> 00:36:29.200
This is 36, but it feels like 46.

779
00:36:29.460 --> 00:36:31.382
It's so freaking hot.

780
00:36:31.422 --> 00:36:31.922
So anyway.

781
00:36:32.102 --> 00:36:37.447
But the reason we're talking about this is actually surprisingly not to complain about it being hot.

782
00:36:37.487 --> 00:36:37.647
No.

783
00:36:38.488 --> 00:36:42.290
There is something going on that we need to discuss that's important.

784
00:36:42.350 --> 00:36:43.131
There's two things.

785
00:36:43.451 --> 00:36:48.133
So firstly, there's the overarching global warming, which we're going to part for a second.

786
00:36:48.393 --> 00:36:51.655
But something we mentioned a few months ago was this El Nino.

787
00:36:52.536 --> 00:36:54.377
And it's a weather pattern.

788
00:36:54.597 --> 00:36:59.159
It's on track to be the strongest El Nino period since the 1950s.

789
00:36:59.740 --> 00:37:01.861
And it's already hitting like...

790
00:37:02.561 --> 00:37:21.624
really crop sensitive commodities so your wheat your coffee your you know everything that's grown essentially and what i mean by a strong alnino is that it is it's it's scientists way of classifying like how intense this like warm episode is that we're feeling right now

791
00:37:22.447 --> 00:37:26.609
And it's based on how much it is more warmer than normal.

792
00:37:26.849 --> 00:37:31.952
But it means huge droughts in some regions and heavy rains in others and extremities.

793
00:37:32.252 --> 00:37:36.574
So you couple that with what the underlying trend is of global warming.

794
00:37:37.314 --> 00:37:45.238
And we've just, like, imagine having a coffee plantation right now and being like, oh, my goodness, this.

795
00:37:45.858 --> 00:37:51.660
I used to have this really great consistent weather pattern and it was like really great for my crops.

796
00:37:51.720 --> 00:37:56.242
And I grew my crops like because of this weather pattern.

797
00:37:56.262 --> 00:37:59.363
And this is why this region does so well for whatever it is, coffee.

798
00:38:00.103 --> 00:38:13.768
And now you wake up and you've got drought and you've got, you've got thunderstorms, you've got tornadoes, you've got honestly just trying to run a business like that and have consistent supply for the rest of the world.

799
00:38:14.088 --> 00:38:15.188
It would be so stressful.

800
00:38:15.409 --> 00:38:16.069
Totally.

801
00:38:16.129 --> 00:38:23.392
And also there's certain regions that are coffee producing regions, for example, because the elements are so perfect.

802
00:38:23.872 --> 00:38:25.272
It's like wine countries.

803
00:38:25.332 --> 00:38:25.993
Totally.

804
00:38:26.013 --> 00:38:27.393
South of France, all the places.

805
00:38:27.433 --> 00:38:28.374
Sheep in New Zealand.

806
00:38:28.414 --> 00:38:29.454
Oh, shit, guys.

807
00:38:29.494 --> 00:38:29.934
The lamb.

808
00:38:30.174 --> 00:38:32.055
Everything's going to have to be relocated.

809
00:38:32.435 --> 00:38:34.416
It's actually quite a big deal.

810
00:38:34.576 --> 00:38:34.876
Yes.

811
00:38:35.096 --> 00:38:35.276
Yeah.

812
00:38:35.316 --> 00:38:36.857
And it's exactly the same with...

813
00:38:37.437 --> 00:38:38.377
Like manufacturing.

814
00:38:39.038 --> 00:38:48.021
If the labor and the expertise is cheaper in one region and it's conducive to making that product the best and the cheapest and the quickest, let's do it there.

815
00:38:48.041 --> 00:38:48.701
It's the same.

816
00:38:48.741 --> 00:38:50.082
It's such a good example.

817
00:38:50.182 --> 00:38:55.484
But for so long, the weather has been, although it's not consistent in that way, it kind of is.

818
00:38:55.544 --> 00:39:01.266
Because you can guess all of these things about how hot it will get in peak summer, how cold it will get in winter.

819
00:39:01.807 --> 00:39:07.082
And you plan your entire business in the way that you produce whatever the crop is around that.

820
00:39:07.223 --> 00:39:08.326
If all of those...

821
00:39:09.428 --> 00:39:35.688
environmental factors change the business either could like just totally not work maybe the what you produce isn't a high enough quality you know yeah it's a really good way of explaining it it's the same with like producing anything you pick it based on on cost on like output all those things and as soon as something in that mix changes like tariffs for example now make it more expensive to do it there let's move it here it's the same with

822
00:39:36.268 --> 00:39:39.191
coffee, for example, okay, now this isn't actually the best environment.

823
00:39:39.431 --> 00:39:40.191
We need to move it.

824
00:39:40.232 --> 00:39:41.853
But that's livelihoods.

825
00:39:41.893 --> 00:39:42.994
That's cost.

826
00:39:43.554 --> 00:39:49.059
That means there might be not better places to move it.

827
00:39:49.359 --> 00:39:51.981
And therefore, you kind of have to put up with the volatility of the weather.

828
00:39:52.001 --> 00:39:56.164
Imagine if coffee stops getting produced because there's actually just nowhere for it to be made.

829
00:39:56.224 --> 00:40:02.649
Well, the price of the Arabica bean that goes into coffee as one type of coffee is up 30% since June.

830
00:40:02.709 --> 00:40:03.010
Yeah.

831
00:40:03.570 --> 00:40:06.791
And cocoa, which is in chocolate, is up 60%.

832
00:40:07.612 --> 00:40:15.675
So, you know, and also sugar, palm oil, like there's so many commodities that are going to be impacted by this.

833
00:40:16.595 --> 00:40:20.357
And yes, we're talking about El Nino, which is kind of like a short-term impact.

834
00:40:21.137 --> 00:40:24.639
But there is a long-term underlying impact as well.

835
00:40:24.719 --> 00:40:26.301
So we're kind of getting a double whammy.

836
00:40:26.681 --> 00:40:29.443
It's like a double wave when you're riding a wave and then you get hit by another wave.

837
00:40:29.923 --> 00:40:34.646
It's almost like when there's a rip and two waves get joined together.

838
00:40:34.686 --> 00:40:37.608
No, no, when you're on one and then you go down onto the next one.

839
00:40:37.628 --> 00:40:39.289
Yeah, on your boogie boards.

840
00:40:39.309 --> 00:40:43.752
There's a lot of velocity, a lot of backward force getting you onto the wave fast.

841
00:40:43.812 --> 00:40:46.874
We're riding the global warming one and then we hit the only one.

842
00:40:46.914 --> 00:40:49.096
That's actually such a good...

843
00:40:49.476 --> 00:40:51.418
I'd love to make a video out of that.

844
00:40:52.198 --> 00:40:55.281
It's like with little labels, like this is the global warming wave.

845
00:40:55.461 --> 00:40:56.702
Oh, and here's the old Nino wave.

846
00:40:56.802 --> 00:40:58.243
It's so funny.

847
00:40:58.363 --> 00:41:01.286
But there are two things that I don't really want to get more expensive.

848
00:41:01.346 --> 00:41:03.307
My flat white and my chocolate.

849
00:41:03.447 --> 00:41:08.712
And in New Zealand and Australia, we have some of the highest spend per person on coffee in the world.

850
00:41:09.658 --> 00:41:09.998
So.

851
00:41:10.419 --> 00:41:11.500
It's because it's the best.

852
00:41:11.540 --> 00:41:11.880
I know.

853
00:41:12.100 --> 00:41:12.341
Yeah.

854
00:41:12.401 --> 00:41:15.063
The coffee here is absolute bollocks.

855
00:41:15.103 --> 00:41:15.704
Totally.

856
00:41:15.864 --> 00:41:19.147
I like go and hunt out Australia and New Zealand coffee brands to go and.

857
00:41:19.187 --> 00:41:19.827
It's terrible.

858
00:41:20.228 --> 00:41:20.408
Yeah.

859
00:41:20.428 --> 00:41:25.773
So before when we parked the global warming piece, I think we should bring it out again and just quickly touch on.

860
00:41:26.374 --> 00:41:30.719
what this is going to be doing for the economy and why it's something worth talking about.

861
00:41:30.739 --> 00:41:41.992
Because I feel like we've parked the global warming train for a while and people, and I don't know why this is happening, but there's a real global trend of people almost putting it in a box and not thinking about it.

862
00:41:42.393 --> 00:41:44.235
And look, it was things like Trump.

863
00:41:44.455 --> 00:41:48.356
making it not a priority in terms of, you know, he wound back.

864
00:41:48.376 --> 00:41:54.198
He, like, got the U.S. wasn't part of the whole Nezero movement to get Nezero carbon emissions.

865
00:41:54.218 --> 00:41:55.859
Like, he just, he was like.

866
00:41:55.899 --> 00:41:56.499
It's Trump's fault.

867
00:41:56.559 --> 00:41:56.719
Yeah.

868
00:41:57.319 --> 00:41:58.739
But also.

869
00:41:58.759 --> 00:42:00.180
I'm never getting into America.

870
00:42:00.200 --> 00:42:01.080
I can just feel.

871
00:42:01.880 --> 00:42:09.883
I don't know, but personally, I feel a really strong sense right now of, like, holy shit, something needs to change.

872
00:42:10.763 --> 00:42:23.532
And I don't – it's just like even like the last kind of six months, I think I've been like this is no longer something that's – like we can't do and take action of ourselves.

873
00:42:24.172 --> 00:42:24.772
And I don't know.

874
00:42:24.812 --> 00:42:29.355
Maybe it is because I'm literally sweltering and I feel like the globe is warming.

875
00:42:30.036 --> 00:42:31.557
No, I think that's what it is.

876
00:42:31.577 --> 00:42:31.917
You know?

877
00:42:32.157 --> 00:42:33.638
But like it's almost too late now.

878
00:42:34.079 --> 00:42:34.619
Do you know what I mean?

879
00:42:34.639 --> 00:42:35.640
Like it's not – sorry, it's not too late.

880
00:42:35.660 --> 00:42:38.562
But it's like that's why people were screaming from the rooftops years ago.

881
00:42:39.282 --> 00:42:55.511
And now we're in this position where people are actually living and breathing and seeing not only the discomfort, but the disruption, the frustration, people dying because of extreme weather, cold and hot.

882
00:42:55.571 --> 00:42:56.731
So I don't know.

883
00:42:56.751 --> 00:42:58.132
I think it's...

884
00:42:58.392 --> 00:42:59.753
I don't think you're alone in this.

885
00:42:59.913 --> 00:43:03.014
I spoke to someone at a drinks the other week and they said the same thing.

886
00:43:03.034 --> 00:43:06.515
They were like, I know it's so nice and it's been hot, but I'm so scared.

887
00:43:06.756 --> 00:43:12.538
It's almost like it's not until it slaps you in the face that you're like, oh, yeah, okay, this is an actual problem.

888
00:43:12.958 --> 00:43:16.560
Greg Stenberg had a really good point 10 years ago and no one listened to it.

889
00:43:16.580 --> 00:43:16.780
Yeah.

890
00:43:16.980 --> 00:43:22.782
And maybe it is now there's a younger generation that is more educated and they can feel they're going to feel it and the effects of it.

891
00:43:23.262 --> 00:43:26.244
You know, whereas before it was an older generation, they're not going to be...

892
00:43:27.124 --> 00:43:46.402
on this planet much longer you know it's like it's not our problem kind of thing but I think like what we can do is you know backing the right businesses the businesses that are actually focused on making this a priority uh we that's in terms of your investment it's also backing the

893
00:43:49.886 --> 00:43:56.031
when we go through elections or when your country goes through an election, are you voting for leaders that are making this a priority?

894
00:43:56.071 --> 00:43:57.532
Because it does trickle down.

895
00:43:57.553 --> 00:44:02.417
Because if you've got a government that makes it a priority, then they enforce the companies to make it a priority.

896
00:44:02.437 --> 00:44:05.339
Well, what's happening right now in America is such a good example.

897
00:44:05.379 --> 00:44:08.002
The last three years, two years have been...

898
00:44:08.762 --> 00:44:36.266
really bad in terms of unwinding all the work that's been done and to say that a lot of that is too with Trump is accurate so realizing that I think and and knowing how much a vote can impact the future of the world the economy people's quality of life everything like trying your best to be a conscious consumer but also where is your KiwiSaver where is your pension where is your ISA like all of that can really really help in terms of moving the needle as well

899
00:44:36.546 --> 00:44:40.670
One of our sponsors for the Curve Weekly, our sponsor for this episode is Pathfinder.

900
00:44:41.310 --> 00:44:52.260
And their entire ethos is about investing ethically and making sure that your money is going to companies that aren't having a negative impact on the planet, on people, on animals.

901
00:44:52.280 --> 00:44:59.406
So if you want to learn more about where your KiwiSaver is and look at that, then we'll put a link to Pathfinder in the podcast show notes.

902
00:44:59.626 --> 00:45:01.127
Yeah, that's just for New Zealanders.

903
00:45:01.708 --> 00:45:03.549
I do feel a little bit like putting the...

904
00:45:04.450 --> 00:45:08.413
Onus on the consumer is hard when people are struggling so much financially.

905
00:45:08.433 --> 00:45:10.074
The cost of living is beyond.

906
00:45:10.414 --> 00:45:17.619
And so just say, make decisions and to be able to use your money in a way that's in line with your values is such a privilege.

907
00:45:17.719 --> 00:45:21.661
I find it really hard and I'm not even in a dire situation.

908
00:45:21.681 --> 00:45:22.902
And that's why the conversation –

909
00:45:23.542 --> 00:45:29.327
has died for the last few years because we've had inflation at, you know, sometimes 7%, 8%, 10%.

910
00:45:29.527 --> 00:45:39.795
It's actually quite tone deaf to be like, hey, pay for the more expensive eco-friendly packaging when we're in a cost of living crisis because people, and I noticed it even myself, I'm like, gosh.

911
00:45:40.175 --> 00:45:43.557
I know I should be buying this, which is slightly more expensive, but it's better for the planet.

912
00:45:44.157 --> 00:45:46.278
But I can't afford it right now.

913
00:45:46.358 --> 00:45:47.318
I need to purchase it.

914
00:45:47.358 --> 00:45:48.319
And you feel guilty.

915
00:45:48.339 --> 00:45:49.579
Yeah, you're right.

916
00:45:49.599 --> 00:45:50.540
It comes to investing.

917
00:45:50.560 --> 00:45:52.540
It comes to where your retirement money is.

918
00:45:52.580 --> 00:45:56.982
There are other ways that you can care for the planet or at least make a decision that makes you feel better.

919
00:45:57.142 --> 00:45:59.503
And also voting for leaders and people.

920
00:45:59.623 --> 00:46:00.644
I think that's the biggest thing.

921
00:46:00.664 --> 00:46:07.087
Because they're the ones that will then channel the money into companies that are making those products to make them cheaper so that we can purchase them.

922
00:46:07.107 --> 00:46:07.287
So...

923
00:46:08.070 --> 00:46:08.430
Yeah, yeah.

924
00:46:08.450 --> 00:46:09.111
It's investing.

925
00:46:09.171 --> 00:46:09.932
It's investing.

926
00:46:10.012 --> 00:46:10.512
It's money.

927
00:46:10.592 --> 00:46:11.253
Money is power.

928
00:46:11.273 --> 00:46:12.274
And money makes change.

929
00:46:12.574 --> 00:46:12.775
Yeah.

930
00:46:12.875 --> 00:46:14.016
It's getting really scary.

931
00:46:14.156 --> 00:46:14.396
Yes.

932
00:46:14.917 --> 00:46:18.340
We've had a community question come through that we're going to play right now.

933
00:46:19.261 --> 00:46:23.064
Thank you so much to everyone that is sending voice notes through to the Herve Hotline.

934
00:46:23.084 --> 00:46:23.605
It's so fun.

935
00:46:23.725 --> 00:46:24.646
We've moved it a little bit.

936
00:46:24.986 --> 00:46:26.387
Feel free to bring... We swapped seats.

937
00:46:26.427 --> 00:46:27.068
Yeah, yeah, yeah.

938
00:46:27.228 --> 00:46:27.909
I kind of liked it.

939
00:46:28.289 --> 00:46:31.792
Hi, I'm super excited about this new fund that you guys have started.

940
00:46:32.873 --> 00:46:53.548
I have been really enjoying the podcast and it's really helping me with my financial literacy and I've actually started having some very, I guess, grown-up conversations with my partner about our finances after listening to Sophie's podcast the other day.

941
00:46:55.545 --> 00:47:06.572
My question is, what are the key things that we actually really need to be aligned on for success going forward?

942
00:47:07.213 --> 00:47:19.300
And then my other question that I have, unrelated to that, is I don't get paid very much, so I do my best to regularly invest little bits into my Sharesies account.

943
00:47:20.501 --> 00:47:37.628
And that's been going really well, and I want to know, to get the minimum $500 to invest with you guys, would it be smart for me to just save my money or to just pull the $500 out of my existing sharesies and invest with your fund?

944
00:47:38.049 --> 00:47:39.669
Oh, so many good questions.

945
00:47:43.791 --> 00:47:44.812
Oh, great question.

946
00:47:44.832 --> 00:47:48.316
So, yeah, so fun hearing people's voices.

947
00:47:48.376 --> 00:47:48.696
I love it.

948
00:47:49.857 --> 00:47:51.539
Okay, there's quite a bit to unpack there.

949
00:47:51.719 --> 00:47:52.040
Yes.

950
00:47:52.520 --> 00:47:54.282
Do you want to start with the listing question?

951
00:47:55.103 --> 00:47:59.227
Yeah, we can't tell you what to do, but the Curve Fund is a great place for lots of money.

952
00:47:59.227 --> 00:48:01.668
We think that's really right.

953
00:48:02.209 --> 00:48:06.972
No, look, we will hopefully be on Shares Ease very soon as well.

954
00:48:07.132 --> 00:48:11.815
So you could either keep it there and invest through Shares Ease or you take money out and invest directly.

955
00:48:12.035 --> 00:48:17.278
Yes, we have a $500 minimum, which is one of the lowest in the industry, but we still need $500.

956
00:48:17.298 --> 00:48:19.079
And that's New Zealand dollars, by the way.

957
00:48:19.099 --> 00:48:19.780
New Zealand dollars.

958
00:48:20.640 --> 00:48:25.024
Yeah, just leave it in Sharesies for now and you'll be able to find the Curve Fund on there very shortly.

959
00:48:25.564 --> 00:48:29.387
And then you don't have to put $500 in because you're on Sharesies.

960
00:48:29.447 --> 00:48:30.348
Their rules apply.

961
00:48:30.468 --> 00:48:36.373
And so you can put their minimum, which I think is like kind of like a dollar or something.

962
00:48:36.493 --> 00:48:40.976
But yeah, you can also do a little bit in the Curve Fund and you can do a little bit in your other companies and Sharesies.

963
00:48:41.016 --> 00:48:46.641
So yeah, you'll be able to buy us just like a company or like a stock on Sharesies.

964
00:48:46.781 --> 00:48:47.982
And the fees are exactly the same.

965
00:48:48.916 --> 00:48:49.156
Yeah.

966
00:48:49.496 --> 00:48:49.797
Sorry.

967
00:48:49.817 --> 00:48:51.698
You don't pay in.

968
00:48:51.798 --> 00:48:55.501
It's not cheaper to do it on Shearsies or with us.

969
00:48:55.581 --> 00:48:56.341
It's exactly the same.

970
00:48:56.682 --> 00:48:59.664
On the relationship piece...

971
00:49:00.992 --> 00:49:03.333
So we've talked a lot about this recently.

972
00:49:03.353 --> 00:49:09.835
There was an episode that I did with Emma Louise Boynton and we spoke about The Stranger's book, you know, about burdens.

973
00:49:10.155 --> 00:49:13.376
Anyway, and then we did do a list of questions to ask your partner.

974
00:49:13.656 --> 00:49:18.678
I think that this is something we should do in more detail, like almost get like a start to finish.

975
00:49:19.378 --> 00:49:21.159
how do you get on the same financial page as someone?

976
00:49:21.179 --> 00:49:21.840
What are the questions to ask?

977
00:49:21.860 --> 00:49:22.680
You and your boyfriend.

978
00:49:22.700 --> 00:49:23.101
Here we go.

979
00:49:23.121 --> 00:49:24.041
But that's what I mean.

980
00:49:24.221 --> 00:49:25.382
I need this too.

981
00:49:25.662 --> 00:49:29.305
I feel like there's so many things to think about.

982
00:49:29.325 --> 00:49:36.109
Because whether you're wanting to talk about a prenup, whether you actually just want to get aligned on spending, there is a lot that I think you need to cover with your partner.

983
00:49:36.149 --> 00:49:39.331
And I'm so guilty of not having done all of it.

984
00:49:39.491 --> 00:49:39.751
Yes.

985
00:49:39.771 --> 00:49:40.832
I agree.

986
00:49:41.552 --> 00:49:45.215
And it's not this, I don't think you want to sit down and be like, we've got to have six hours of talking about money.

987
00:49:45.235 --> 00:49:46.976
But you could just like slowly chip away at them.

988
00:49:47.996 --> 00:49:48.217
Yeah.

989
00:49:49.286 --> 00:49:49.767
Oh, yeah.

990
00:49:49.927 --> 00:49:56.572
Sorry if that's not super helpful, but I will put that on my list of important things to do because I, yeah, I think there's a lot of people that would find that really helpful.

991
00:49:56.892 --> 00:49:58.134
So I've got a holiday coming up.

992
00:49:58.814 --> 00:50:00.235
There is something relevant here, I promise.

993
00:50:00.596 --> 00:50:01.736
I have to book a rental car.

994
00:50:02.237 --> 00:50:02.357
Yeah.

995
00:50:02.457 --> 00:50:08.302
And I'm already feeling a little bit stressed about the financial hangover post-holiday.

996
00:50:08.322 --> 00:50:08.422
Yeah.

997
00:50:09.723 --> 00:50:17.907
And it made me think this is a really good time to let you know we've just put out our most recent IOU episode with Hannah Kumakis, actually, who's now Hannah Hart.

998
00:50:18.647 --> 00:50:20.348
And that was one of the things we spoke about.

999
00:50:20.388 --> 00:50:29.712
How can you end what is meant to be a very relaxing, fun time without coming back and being absolutely terrified or sick with anxiety about how much you spent on holiday?

1000
00:50:29.772 --> 00:50:33.153
So if you would like to listen to that episode, it came out on Friday.

1001
00:50:33.433 --> 00:50:34.634
We'll link it in the podcast show notes.

1002
00:50:34.654 --> 00:50:37.035
It's called The Holiday Hangover That No One Talks About.

1003
00:50:37.955 --> 00:50:41.277
The split-wise feeling when you're like, has everyone put theirs in?

1004
00:50:41.297 --> 00:50:42.097
I'm like, I don't want to look.

1005
00:50:42.137 --> 00:50:42.677
I don't want to look.

1006
00:50:42.797 --> 00:50:43.818
No one put any more in.

1007
00:50:43.958 --> 00:50:45.519
I can't afford the split-wise yet.

1008
00:50:45.659 --> 00:50:46.799
No, it's not good.

1009
00:50:47.220 --> 00:50:48.260
Okay, have a great week, everyone.

1010
00:50:48.280 --> 00:50:49.321
We'll see you on Wednesday.

1011
00:50:49.341 --> 00:50:50.061
Stay safe.

1012
00:50:50.081 --> 00:50:50.821
Stay safe out there.

1013
00:50:50.841 --> 00:50:52.222
Don't do anything I wouldn't.

1014
00:50:52.302 --> 00:50:53.663
Use an umbrella if you're in the heat.

1015
00:50:53.763 --> 00:50:56.684
It's actually really a way to stay not fainty.

1016
00:50:57.145 --> 00:50:59.466
Umbrella for sun I never thought would be me.

1017
00:50:59.546 --> 00:51:00.286
Get sunscreen.

1018
00:51:00.746 --> 00:51:01.287
Yeah.

1019
00:51:01.367 --> 00:51:02.867
But yes, thanks so much for listening.

1020
00:51:04.108 --> 00:51:04.388
See ya.

1021
00:51:04.589 --> 00:51:04.929
See ya.

1022
00:51:05.450 --> 00:51:07.332
Thank you so much for listening to The Curve Weekly.

1023
00:51:07.492 --> 00:51:12.757
Make sure you hit subscribe or follow wherever you're listening so you're always up to date with the latest finance and investing news.

1024
00:51:13.018 --> 00:51:17.002
And feel free to leave a comment to let us know what you thought about this episode because we would love your feedback.

1025
00:51:17.282 --> 00:51:19.545
We've got new Curve Weekly episodes for you to listen to.

1026
00:51:19.745 --> 00:51:20.385
every Monday.

1027
00:51:20.445 --> 00:51:22.687
But until then, listen to Erasing the Curve.

1028
00:51:22.727 --> 00:51:25.768
These are our in-depth podcast episodes where we chat about all things money.

1029
00:51:26.028 --> 00:51:31.091
We're also around all week on socials if you're hungry for more Curve content and all the links are in this podcast show notes.

1030
00:51:31.411 --> 00:51:35.393
We hope you have a great week and we'll catch you for the next episode of The Curve Weekly on Monday.

1031
00:51:43.572 --> 00:51:49.015
Okay, quickly, the Curve was created to empower and educate you about investing, but we are not financial advisors.

1032
00:51:49.536 --> 00:51:58.521
Our platform exists for educational purposes only, and it doesn't provide personalized investing advice for your individual needs and should not be relied upon to make an investment or financial decision.

1033
00:51:58.941 --> 00:52:03.304
And always remember to do your own research before making any investment or financial decision.

1034
00:52:03.624 --> 00:52:07.366
We're here for any knowledge and support you need, but the final call is always yours.

1035
00:52:07.646 --> 00:52:08.547
And thanks for being here.

1036
00:52:09.047 --> 00:52:09.647
You got this.

1037
00:52:09.667 --> 00:52:10.688
Yeah, we know you got this.