This is what the Flux. I'm Brett Mada, I'm justin and it's Monday, the ninth of December. Josey Boy.
We know there's a race to win at AI at the moment, and tech companies are trying to develop a million and one use cases. And now Google has said it's developed a new AI model that can quote identify emotions for does boy. While this sounds like a pretty significant and scary breakthrough, many researchers are pretty skeptical, So we'll have to put it to the test ourselves. Google send us the Pally and Gemma two man. We run the numbers, and the average Flux user who's used.
Our subscription tracker has saved over three hundred and fifty dollars in the last two months a loan. Wow.
It's all thanks to our Subscription trackp which tracks all your subscriptions across all your bank accounts and tells you where you may be spending money that you didn't know. We are saving money left right in Sander for Flux users, so make sure to download the Flux app and check out the Subscription track app. Three highly beneficial stories today,
Josie Boy, Let's do it for our first. Arn Media, the company behind radio stations Kiss FM and Goal, is cutting twenty million dollars in costs as it tries to free up cash in a very tight radio market.
Very toy must be Kyle and Jackie ob really hurting those purse strings, Bean and so Joeing Moore, Well, Josey Boy.
AARN Media is an ouzzie media company founded in nineteen eighty eight under the name Here, There and Everywhere.
Now they run more than fifty eight radio stations in thirty three different markets, including Kiss and Gold and iHeart in Australia.
But Jazi Boy twenty twenty four has not been kind to ARN Media. No, no, no, It's seen at share price four by more than twenty seven percent. It has been unsuccessful in its attempted acquisition of Southern Cross Media, which is the owner of Triple M and Hit FM.
But now be man, Aarn's been hit one more time because it's warned that it's going to cut twenty million dollars in costs to free up cash.
This means cutting between thirty and fifty staff from its team.
What's the reason for this need to free up cash? Right now?
Well, AARN has struggled to grow its revenue at all over the past two years, and its profit has been dipping.
And be man, you got to remember they've got a their radio star performers to keep the mics on, in particular their ten year, two hundred million dollar deal to keep Kyle and JACKIEO at the station. It's a really way down their financial statements and right now this investment to take Kyle and Jackio national hasn't really paid off. Big call for me, Jose boy. What is the key learning here? Well, big ticket investments can amplify success, they
can also amplify risks. Our end, the two hundred million dollar contract was designed to row their star performers out across all states in Australia and.
This would mean they need less talent, less producers, less audio engineers, less everything that comes with making a radio show.
But they made so far it hasn't worked out for them as they planned.
In fact, their show's audience is down twenty seven percent compared to last year and.
They're sitting in eighth position nationally for audience numbers.
So JUSEI wait, this is a reminder that businesses need to diversify them revenue streams.
Yep.
For our second story, the Iconic is suing fast fashion retailers she In for infringing on a trademarked name of its in house label.
Feels like she is kind of baiting the Iconic with this on, So tell me what's going on here.
Well, the Iconic is the Australian e commerce retailer that launched in twenty eleven.
Yeah, and since then it's growing to become the most popular fashion app in Australia and New Zealand with more than six point eight million downloads.
But Jossy Boy, correct me if I'm wrong here, But popularity doesn't always mean profitability.
No, no, no. In fact, the man, the Iconic's revenue felt one hundred million dollars in twenty twenty three to six hundred and fifteen million bucks, and.
Its losses quadrupled to forty seven mil.
So, man, it's fair to say that getting into a trademark battle against she In, the sixty six billion US dollar fast fashion retailer, would not have been on the iconics bing go card. And nonetheless, Jossy Boy, here we are exactly because the Iconic is now suing she In for infringing on its trademark of its private label brand called Daisy. That's da Zie.
That's because she In has a brand named Daisy daz Y in Australia and that's been running for the last few years.
And be man with the old legal little ping pong going back and forth, she In promised to stop selling it's Daisy brand. Except here's the thing, Jazzy boy, it did not. Now the Iconic claims that Shean's made profits they weren't entitled to by using the Daisy brand. So what is the key learning here?
In the world of business, litigation can serve as more than just a way to protect your rights. It can become a strategic tool. The Iconics lawsuit against she In does two things. Firstly, it defends against its ip and secondly, it sends a strong message to the market about its desire to protect their brand if anyone else tries something similar the man.
We saw this recently when popstar Katy Perry soon an Australian fashion designer who was selling clothes under her own name, which happened to be Katy Perry as well, and she won after many, many, many years. But Beman litigation strategy isn't without its risks either yep, legal battles can drag on for yoonks, and not to mention this can drain financial resources please or a fortune and distract from the core business operation.
Particularly when you're fighting against a global powerhouse like she In. For our third and final story, bitcoin has passed through the one hundred thousand US dollar barrier for the very first time, and crypto bros and sisters are cheering its price to the moon.
Still can't believe someone bought two pieces for ten thousand big coins back in twenty ten, b man, so tell me more, Well, juzzy boy, we know that bitcoin is created by the man, the myth, the legend Setocin Nakamoto back in two thousand and eight, and since then it's become a lot more mainstream than just quirky coders and libertarians.
In fact, the number of ossies that had some form of crypto is around twenty percent according to Fintech Australia, and.
Over the past fifteen years it's going through a number of incredibly volatile cycles. But since Donald J.
Trump was elected as the next president of the US, bitcoin is rallied by more than forty five percent and now Bitcoin's broken through the one hundred thousand US dollar barrier for the first time in its history and justin m While it doesn't actually have any technical significance, it does have a psychological significance.
So what is the key learning here?
Investing is as much about mindset as it is about money.
You see be Man. When it comes to investing, there are often psychological barriers around particular investments. These are the in visa walls that many investors create around their investments, and be Man.
Round numbers like one hundred thousand dollars fuels monumental, so people actually behave differently. Some investors will panic and sell worried it will never.
Go higher, and others buy in fearing they're going to miss the ride to the mood.
But He's the secret. These barriers are very much mental and be Man.
The value of an asset doesn't magically fundamentally change because it hits a nice round number yep.
Successful investors they zoom out, They focus on long term goals, and they don't let shiny milestones mess with their strategy.
Flex am if you hate saving money and don't want to find any of the subscriptions that you're not actually using. We highly recommend not checking out the Flux out, but if you do want to save money, there is only one place to go where the average flux you use. To save three hundred and fifty dollars, make sure to download the Flux oup, check out the subscription tracker, and save money today. Thanks for listening, and we'll see you on Wednesday.