CommBank's banking backflip | Salesforce's 'hard pivot' | SpaceX's valuation goes to the moon

This is what the flucks.

I'm Brett and Justin As Friday, the sixth of December.

Tis the season for shrink flation. Juzzy Boy, and your report has found that Christmas treats are smaller and more expensive this year. Get this one, Lynse Christmas Champagne Gala box is two dollars and more expensive than last year and dropped in size by eight and a half percent of the double whammy. Yep, and there are a whole lot more to shrink. Flation is everywhere. Just another reason for Colson Will is to be under the pump.

With an expensive summer probably coming up for everyone, there is one way to lighten the load, and that is winning Quick Sticks Today. That's our weekly quis. We're the first person to answer three questions correctly wins fifty bucks in their pocket. Last week the winner was a Shish and this week it could be you. So make sure to download the flucks out, turn your notifications on to play quick six today and win at money.

Three victorious stories today Juzzy Boy for our first combank has backed down from its plan to charge customers three bucks to withdraw their own money after some pretty enormous backlash.

The customers, the media, even the done Treasurer got involved. Here be man, so tell me more.

Well, Juzi boy. We know Combank as the big yellow bank with a wopp and seventeen million customers around Australia, the big yellow bank with a whopping nine point eight billion dollars in profit for the last financial year. But earlier this week Combank announced some changes to its customer accounts.

It was closing one million complete access accounts and moving those customers into a smart access account.

Doesn't mean much on the surface. These smart access accounts charged customers three bucks per any assisted withdrawal.

As any withdrawal from bank branches or on the telephone.

And Jessie boy, when I say this created uproar, I mean it created uproar.

Think a current affair level uproar.

And it even got Jim Gary, Superintendent Charmers involved. He called the Combank CEO directly.

And now Combank has backed down from this three dollar.

Charge and Combank's PR team really has its work cut out for it after this communication the bungle.

So what is the key learning here?

Sometimes the messaging is even more important than the substance.

He's the ironyb man Shifting these one million Combank customers to the new account would actually save them two dollars per month in account.

Fees, and ninety percent of the customers with those legacy accounts don't withdraw at a branch or on the phone.

So logically it sounds like this isn't the worst move for customers.

Do way. The communication of this message and its timing couldn't really have been worse, could it.

They announced the change in the lead up to Christmas when eighty seven percent of households are worried about how much they're spending at the supermarket.

And they underestimated the passion that customers would feel about being charged to access their own mulla.

They're on top of that some media coverage and you have a recipe for PR disaster.

So rather than being the grinch this Christmas, Combank has decided to pull back.

Because the PR team just ain't ready for another PR debarcle this close to Christmas.

For our second story, Salesforce has seen its value jump by more than thirty billion US dollars after it rolled out a brand new feature. Anyone heard of AI?

How we ahead of its time? B Man haven't heard any other tech company sprook ai lately, so tell me more.

So some background here. Salesforce is one of the OG software companies and it hails from San Francisco, yep.

It was founded back in nineteen ninety nine and it's grown to be worth over three hundred and fifty billion US dollars.

And what exactly do Salesforce actually do well.

It's an all in one sales and marketing service for businesses.

And it's also the same company that acquired Slack in a deal worth thirty eight billion dollars.

And now be Man Salesforce's founder and CEO, So they'll be making a hard pivot to a new AI agent platform called agent Force.

Essentially, this would let Salesforce users build AI powered agent and those agents do what well they can supposedly make decisions and automate customer service tasks and the.

Man, it seems like Salesforce are pretty serious about this. The CEO and found out Mark Benuoff mentioned the word Agent Force eighty times during a court with investors this week.

And it clearly worked. Next minute, shares jump more than an eleven percent to a record high.

But now be man, they actually need to deliver and get thousands of its customers at using these AI agents. Got me wondering what is the key learning here? Investor enthusiasm can only last so long, so when you talk the talk, you've got to walk the walk very quickly,

Now, Salesforce has already supposedly sold two hundred deals for Agent Force, which is a good start, but their plan is to have tens of thousands of people using Agent Force by this January twenty twenty five. And Josey Boy given Salesforce market value jump by more than thirty bill USD off the back of this announcement, this AI has some pretty big shoes to fill.

For our third and final story, SpaceX Elon Musk space startup is reportedly gearing up for a three hundred and fifty billion US doll evaluation, which would make it the world's most valuable startup.

Hardly a startup when it's been backed by the world's richest man. But you know, go on, Okay.

So SpaceX was founded in two thousand and two as part of Elon Musk's plans to revolutionize space technology.

As well as dominate the space launch industry.

Now be man. In the past, launching a rocket into space was mainly done by government organizations like NASA.

But does it wait? Last year SpaceX did ninety six orbital launches, ahead of every other space launch organization in the whole wide universe as far as we know.

It also launched four thousand, two hundred satellites for its Starlink company, which provides global Internet covery.

And now SpaceX is reportedly raising money at a valuation of three hundred and fifty billion US dollary dues. So Jose, wait, how much money is SpaceX making right now?

Well, it's a private company, so it's hard to know any of its financial details. But Starlink is projected to generate six point six billion US dollars in revenue for twenty twenty four.

And SpaceX already as a partnership with NASA, which is expected to grow under Donald Trump. So what is the key learning here?

Going to the moon has become more excessive and more lucrative than.

Ever before see does it way. Over the past decade, we've seen enormous advancements in the space industry.

We've seen the cost of space launchers become cheaper and cheaper.

We've also seen improvements in high tech satellites.

Which help with Internet access, navigation, weather forecasting.

And it ain't stopping here. The World Economic Forum expects the space economy to hit a massive one point eight trillion dollars by twenty thirty five.

That's three times the size of the space economy in twenty twenty three.

So while space used to be the domain of NASA and you know your Neil Armstrong's, we're seeing it become more and more central to the broader economy, and SpaceX.

And its lofty valuation are right at the center of it. Floxam. If you want to kick off the weekend with fifty bucks in your front pocket, there is only one place to be. It is enough Flux app at some time today to be the first person to answer three business of finance questions correctly. Make sure you download the Flux app, turn on your notifications if you want to win at money.

Thanks for listening and we'll see you on Monday,