Victoria's new deal with the NFL | MCoBeauty's $1 billion valuation | Tinder swipes right to AI

This is what the Flux.

I'm Brett and I'm just send It's Monday, the tenth of February.

Does wait.

We know that Nissan has been in trouble lately and we're in talks with Honda to merge in order to survive. But now Nissan is ending those negotiations with Honda and is looking for.

A partner in the tech industry.

If you don't mind, man, I've got a little money in for this Monday, I was using the Flux subscription tracker and realized I was still paid for a gym membership that I thought I was canceling it weeks ago tooved me sixty five bukkerunis this week and sixty five for next week as well, and I was delighted, just quietly to fox AUP. If you want to see all the recurring payments that are coming out of your account every single week, there is only one place to do it.

Trucker today three spectacular stories today, doesy boy? Let's do it for our First, the Victorian government is going on a sport spending spree after landing a multi year deal toast NFL games in Melbourne as well as the NBA.

Man I thought Victoria was in a heap of debt, So what is going on here?

Well, Josey boy, As you know, Melbourne may not have the ocean views like Sydney or the glitz of the Gold Coast.

But it does pride itself on its coffee culture, it's art scene and of course being the home of sport.

Yeah, between the Australian Open, Formula One, Grand Prix, AFL Grand Final Melbourne cast.

It brings a lot of people to the state.

But now be man. Victorian government has announced it's landed a multi year deal host of the Los Angeles Rams in the NFL.

And we're not talking a casual exhibition game here, Jesse boy. We're talking a real regular season game.

And how much moul are we talking for this deal?

Well, it's believed that the vig government will pay around fifteen million bucks to host each.

Game, or, as the new South Wales premier called it, a king's ransom.

And if that wasn't enough, it seems like the Victorian government is also bringing NBA teams to Melbourne for multiple exhibition matches in October this year.

And they'll be competing against local NBL team.

This will be like the Loon Tunes playing against the Harlem Globetrotters.

So true. So what is the key learning here?

Bringing major sporting events to a state is always a high stakes game for governments.

Yeah, they need to balance the hefty price tag with the promise of economic returns.

And there are always critics who reckon splashing millions on sports can seem like a bit of.

A luxury Hello Commonwealth Games twenty twenty six. But be men. His history suggests that Victoria has made these investments work sometimes.

Take the Australian Grand Prix.

Victorian taxpayers have paid five hundred and twenty seven million dollars for the event since twenty fifteen, but in twenty twenty three alone, the Grand Prix delivered around two hundred and sixty eight million dollars in economic impact.

Compared to the one hundred mili that the government invested.

So b man, if the NFL and NBA deals followed the same trajectory, they could inject significant dollars in the local economy and reinforcing Melbourne's reputation as the sporting capital of Australia. For our second story, MCO Beauty, the Australian cosmetics and skincare company, has been sold in a deal that's understood to value the company at one that billion dollars.

Didn't we just talk about how sday Lauder was struggling? Tell me more so.

The story starts in two thousand and two when MC Beauty's found at Shelley Sullivan started a beauty brand called Model Co The Boy.

In twenty twenty, she realized that there was a bigger opportunity in offering more accessible and less expensive beauty.

Products, so she created MCO Beauty, which had a strategy to basically identify viral beauty products and then dupe them. And since twenty twenty, mc beauty has taken a market share from Loreal, Rimmel and Maybolene and it's the best selling beauty brand in Woolies and Big w.

And now DBG Group, which first took a fifty percent stake in MCO Beauty in twenty twenty two, will buy the other fifty percent for what's believed to be five hundred million bucks.

And they man, that would mean the deal values a company at one billion dollars. Not bad for four or five years of duping. Yeah, so what is the key learning here?

Jube culture is where products are copied and sold at a lower price point than the original, And they man.

We see jube culture in water bottles, Hello stan Lee, jupes, we see it in fragrances, Hello, let Labo, dupes, and even especially in cosmetics Hello MC beauty. In fact, they mean dupes account for forty percent of MC Beauty's products.

But dose boy, what's interesting is that sixty percent of young customers would actually prefer the dupe over the og product.

Even if they could afford the real thing.

And as a result, some beauty companies they are even producing their own knockoff versions to capitalize on the trend.

The biggest loser here be man. The brands and companies spend millions of dollars developing a new product only for it to be stolen slash duoped.

And it would appear that the bigger winner is MC beauty.

For our third and final story, Tinder is hoping to turn around its declining user base by pushing AI into its matchmaking to help discover new matches.

When swipe fatigue kicks in, Tinder turns to AI.

Like every other honymorev man. We know Tinder as a company that made online dating cool in the iPhone age, the old swipe left, swipebright gamified dating was unheard of on sites like e or ok, Cupid and b Man. Tindergrew to become the most popular dating app in the whole wide world, with over seventy five million monthly active users the juzzuway.

Over the past few years, Tinder has seen its active users continue to decline.

And why is that? Be man less singletons in the world.

Quite the opposite, juzzy boy. There are still many singletons, but many single people have grown tired of online dating.

So now Tinder's rolled out a new AI feature. It will supposedly help improve the quality of matches.

Basically, instead of swiping, you can use a trusty AI matchmaker to find matches for you.

But be man, Let's be honest. Tinder's business model is probably one of the trickiest challenges that they're facing right now.

So true, so what is the key learning here?

It's tricky to build a business when your success means your customer's failure juzuwait.

Tinder's business model is built on a paradox.

People pay for premium features to increase their chances of finding a.

Match, but if they succeed, these people no longer need the app and they stop paying.

On the flip side, if they don't find a match and grow frustrated with online dating, they also leave and stop paying.

It's a tricky balancing act for old Tinder.

Rouney yep in its scape uses hopeful enough to stay, but not so successful they churn out immediately. More recently, they haven't been successful in striking this balance, with monthly active users dropping.

In fact, their users dropped by ten percent in October last year and nine percent in November and December.

So Tinder is hoping its AI powered matching could help this balance by making the dating process feel more achievable.

Fox Am, you will be absolutely shocked by the amount of recurring payments that come out of your bank map every single month. We have it all covered in the Flux apps. In under thirty seconds, you can find all your subscriptions or your recurring payments and all of the forecast for the next month. It can save you one hundreds every single month, so make sure to check out the subscription track up in the Fox app.

Thanks for listening, and we'll see you on Wednesday.