Julie Bishops take on financial equality

Maddy: [00:00:17] Hello and welcome to youre in good company, an investing podcast striving to disrupt the norms in the finance industry. I'm maddy, and as always, I'm in some very good company with my co-host Sophie. [00:00:27][10.0]

Sophie: [00:00:28] Hello, maddy. Very exciting episode today because today is the final episode of season two. [00:00:34][5.8]

Maddy: [00:00:34] Today, we are humbled to welcome to the show. Someone who really needs no introduction at all, but alas, I will give her one anyway. Australia's 38th Minister for Foreign Affairs and First Female Deputy Leader of the federal Liberal Party, the Honourable Julie Bishop. Safe to say, Julie has not slowed down since her time in parliament. These days, Julie is the chancellor of ANU, chair of the Telephone Kids Institute, member of the International Advisory Board of the Human Vaccines Project and patron of Shooting Stars and Education Programme for Young Aboriginal Girls, just to name a few. Welcome, Julie. Thank you so much for joining us on your in good company. [00:01:12][37.7]

Julie Bishop: [00:01:13] It's a lot of fun doing it for you, maddy. Great to be with you. [00:01:15][2.8]

Sophie: [00:01:16] So, Julie, we always start the episode in the same way so people can get to know you a little better with some intro questions. The first is what's the best thing that's happened to you this week? [00:01:24][7.9]

Julie Bishop: [00:01:25] Well, given that it's very early in the week, I guess I would say that I began my week with a good exercise routine and Keith Typekit restrictions on writing do yoga. So on Monday morning, 6am class, which is beautiful, and then today I went for a run, but it started raining. Both experiences were exhilarating. Great, right? It the way sounds divine. [00:01:53][27.8]

Maddy: [00:01:54] And Julie, if you could have dinner with anyone, who would it be and why? [00:01:57][3.9]

Julie Bishop: [00:01:59] Well, that's a great question. I guess if you've been anyone who's moving on, try Vladimir Putin, the Russian president, to get his views on political change. He's quite a global disruptor, so think of the assassinated in the party. Boris Johnson is such a great company. Utterly hilarious. So if I were looking for a comedic moment, it would be Bach. But if you need someone who's no longer around. Got the Princess Diana? Oh, great answer. The Crown series has revitalised slightly interest in her life and questions. I'd like to answer yes. [00:02:41][41.6]

Sophie: [00:02:42] That would be a fascinating dinner. I've also been watching Crown, and it was. It's actually a great series. [00:02:46][4.0]

Julie Bishop: [00:02:46] It's wonderful. And what amazes me is all these things come up and you think that really has the use of the line? You can't do that. We're kind of loosely based on that. [00:02:58][11.9]

Sophie: [00:02:59] You just need a laptop in bed with you and you just typing away like you're serious, just confirming fact. Oh yes. [00:03:04][5.1]

Julie Bishop: [00:03:05] Oh yes, yes. I'm always talking about that. [00:03:08][2.5]

Sophie: [00:03:08] And if you could be a stock or company, who would you be and why [00:03:12][3.4]

Julie Bishop: [00:03:13] you are going to the L'Oreal International International Company slide into sustainability and looking good has never gone out of style. [00:03:24][10.5]

Maddy: [00:03:25] Love it. So Julie, you started out your career as a lawyer and were studying at Harvard, doing your MBA Ren. Fortunately for all of us, you realised that you wanted to go into politics. What was the inspiration for this change? [00:03:37][12.5]

Julie Bishop: [00:03:38] I was actually on a sabbatical. I did the management course at Harvard Business School and I was planning on going into corporate life. But during my time there and one of the classes later in my programme, I wanted to make sure that if any of us had thought about actually going into public office, thinking back to your country rather than going into corporate life, and suddenly it seemed to make sense to me. It was my eureka moment. My mother had been a local councillor, so there was a lot of public service in my family. But suddenly my legal career seemed to be abandoned and I thought about it all the time for federal politics because I was fascinated by the national debates on national issues. I was also deeply interested and passionate about Australia's place in the world and how we could make a difference to the our time. So politics, it was. Now you have to be very careful what you wish for because within two years of returning from Boston, I was an official member for Curtin out here in Western Australia. [00:04:47][69.2]

Sophie: [00:04:48] Incredible career. Did I also read correctly that you made partner in your late 20s at a law firm? [00:04:53][4.9]

Julie Bishop: [00:04:53] Yes, I did. Yes I did. Well, I was actually apartment twenty five in. A small friend and then I came close to her and I joined Titanic, which is a much bigger emotional Lawson and I became a partner at about age 20. Wow. [00:05:12][18.9]

Sophie: [00:05:14] Marina are both 25 now and I feel like I'm at the very beginning of my career and I can't. I can't imagine being a partner and leading Typekit be behind. Well, I'm [00:05:22][8.2]

Julie Bishop: [00:05:22] still a question of chance and circumstance and grabbing hold of opportunities. [00:05:25][3.0]

Sophie: [00:05:26] So of course, now we read it as foreign minister on top of your already, I can imagine very busy schedule. You made a point of meeting every female leader, whether it be in the government or the private sector, in every country that you've visited, which I can assume is quite a few. Why was this important to you? [00:05:44][17.2]

Julie Bishop: [00:05:44] Women leaders who remain in the minority in virtually every country on digital, the most probably visited one over 100, 110, 120 countries during my five years as foreign minister, but I thought it was important to get their perspective, whether it be in business or not, for profits, almost certainly in politics. I wanted to get this perspective and ultimately found they had a different view of the world than they that had been presented to me by name or the multiple numbers of male leaders that I met when I was in the country. So I would ask our embassy or diplomatic parties to organise a lunch or dinner with a group of leading women from that country. And I found that I learnt so much about social issues, about that country's perspective, but I don't know that I would have blamed you had it been an all male nation, trust me. Of course, combination of male and female voices was obviously very useful, but I did want to hear from the female leaders, and it is also important to get that sense of hope around the world and nurture that, and I found that space most valuable. [00:06:59][74.9]

Maddy: [00:07:00] So you've obviously met some pretty incredible women in your time. Are there any moments that stand out to you as being particularly memorable? [00:07:07][6.8]

Julie Bishop: [00:07:08] Oh yes, I remember a meeting in September 2016 at the United Nations in New York and all of the foreign ministers from virtually all the foreign ministers. About 200 countries were in New York at that time and time. The foreign ministers were female out of that number, and we came together for dinner one evening and it was one of the most enjoyable nights of ever had in my 12 years in politics. Is this amazing? Twenty five women holding the same position as I did in their internship and discussing the geostrategic global political issues of the day. It was a fascinating, not much champagne and many friendships, many friendships formed. And remember, it was great fun. [00:08:00][52.5]

Sophie: [00:08:01] I can imagine that you'd all have such fascinating perspectives as well on some of, you know, the same issues. It would be amazing. [00:08:05][4.9]

Julie Bishop: [00:08:06] Exactly. There was so many common issues. It didn't matter what country you came from, all your background or life experience. There was so many issues in the struggle for gender equality and gender equity. It was interesting, you [00:08:19][13.2]

Sophie: [00:08:19] said before that you'd want to have dinner with Princess Diana. When I answered that question, when Mary asked me, I said the Obamas, so I wanted to know, how is it meeting the Obamas? [00:08:26][7.0]

Julie Bishop: [00:08:28] It was wonderful. I met President Obama on a number of occasions during his time as the leader of the United States, and then on a couple of occasions, I was delighted to meet Michelle Obama. They hosted functions and events and exciting, told people, are there no and no photographs that I had taken with them when I looked like a very tiny baby in the training? So very elegant people. Think it's delightful and very, very relaxed and very much like a husband. Barack Obama was a very laid back. Very cool. He was one of the coolest people I've ever met in the sense that he was very comfortable with himself. He was self-confident and showman. [00:09:11][43.3]

Maddy: [00:09:12] As I've heard you tell a story about how Obama runs down the stairs of the aeroplane without holding on to the hat and row. And that image is just imprinted in my mind. He looks so cool. [00:09:22][10.1]

Julie Bishop: [00:09:23] I don't know if you have a Google that you can actually see images of Barack Obama running down the steps of this one. And how this side, though, doesn't hold hands. He just has his hands, and Trump is very grateful. Lesley Stahl and I noted it on a number of occasions when I saw him at the same the scenes from a plane or elsewhere. And it's just such an easy, graceful, self-confident image. It really stuck in my mind that there were all sorts of aspects of different leaders that I remember with some fondness and some. The that would be a great privilege to represent Australia on the world stage, but also to observe so many different leaders at close range and learn a lot about leadership just from the observations are made during that time. [00:10:14][51.2]

Maddy: [00:10:15] So coming back to Australia now, then in 2013, you were elected by your party room as deputy leader, which meant that when your party came into government, you automatically became a member of Cabinet, which at the time there were actually no other females appointed. You've mentioned in an interview before that you've noticed the behaviour of cabinet is quite different when you are the only female voices, when there are lots of females. Can you explain what you mean by this? [00:10:40][25.0]

Julie Bishop: [00:10:40] I think it's an experience that many women have had when they are in a room of old men or that being at a meeting with the vast majority males. I call it gender business. I just got the feeling that when I spoke and put forward an idea in a group of men, they would nod and then move on. It was they didn't hear my contribution. Yet a couple of people further around the table would say precisely the same thing, the same point, and they would be nodding. Yes, I agree. And what a good idea. I just want to say not hate me and I thought my name. It's my standing. In the other night, I wrote it with a few women who said, That happens to me all the time. Then I raised it in a conference of female leaders that was hosting in Hong Kong and the women in the room to see what you'd laugh at when I hit it. And I asked several hundred women how many experiences and vision that they had. And then since that time, having a the difference. It's come back to me time and time again when I know exactly what you mean. It's a strange phenomenon. It's as if they don't see you. But when a man puts forward your idea, appropriate ideas, it registers for some reason. Now, when there were more women in cabinet, we would reinforce each other and say, in Ren he what you just said, I mean, bring people's attention to it and you got have it that way. But I think having a mix of views in decision making forums, whether it be the United Nations Security Council, the national cabinet or boardroom, having a mix of these logics, the perspective on diversity in a decision like this forum is so important you the discussions get a better outcome, doesn't have constructing gender diversity, but that's the most obvious. And given that over 50 percent of the population. [00:12:47][127.0]

Maddy: [00:12:49] One of my favourite segments ever on Australian TV was in misrepresented when they asked each leader, each female leader, about gender deafness. And they put it all together and it was like, You are all reading from a script and everyone was able to tell the exact same story. It was mind blowing. And yeah, it was hilarious and sad at the same time. [00:13:09][19.8]

Julie Bishop: [00:13:09] It is very clear the editing because we were all obviously interviewed. In fact, my interview last January and some of them two days later and Annabel Crabb with the team didn't care. They interviewed the questions, the others were asked. And so likewise, I saw that for the first time when the show was released and was amazed. Maybe not, not so surprised and delighted to hear that little had different experience from whatever political party or politics whenever we were on the political spectrum. Experience that I had is something that many women had experience, but we all had our own way. Of course, things can change when you get a critical number of women and women's voices in the room, then they will be held. [00:14:02][52.5]

Sophie: [00:14:02] Yeah, 100 percent everyone. I've spoken to girlfriends about that, like everyone has their own perspective. It doesn't even have to be in politics. It can be in business, it can be in personal relationships. It's like almost in every aspect in life. I guess it's one of those things that we just need to work towards changing. And that will happen when we do, you know, start working towards greater targets or quotas of women in every room, no matter what the circumstance. [00:14:22][20.0]

Julie Bishop: [00:14:23] Yes, I think that there's a significant momentum underway now to ensure that women choices are heard. It doesn't have to be equal numbers. You just have to have a critical mass of women. But there are plenty of female dominated workplaces. And the question is, should we be striving to get more money in those workplaces with a primary school teacher in aged care or nursing or whatever? Are we better off with greater diversity? And I would say estimates [00:14:55][32.3]

Sophie: [00:14:56] now kind of sticking with this female perspective a little bit. We wanted to jump into, you know, women in politics often criticised for their fashion choices [00:15:04][7.1]

Julie Bishop: [00:15:05] or lack thereof. [00:15:05][0.5]

Sophie: [00:15:08] I mean, the media constantly is focussing on, you know, what you're wearing and not actually the work you do. And I think that's could be one of the most infuriating things. But we feel like that you really took it in your stride and you even use the hashtag fashion diplomacy to promote Australian fashion on the overseas stage. Why was this important to you? [00:15:26][18.6]

Julie Bishop: [00:15:27] I wanted to be authentic. Always been interested in fashion. As soon as I could get a subscription for Vogue to be delivered, I got one. My mother was very interested in fashion or fashion magazines or something I was passionate about, and I had an interest in fashion throughout my life. And as a young with I want to dress professionally. I like beautiful clothes and when I could afford them to buy them, I would. I was also pretty good at being close to my sister's wardrobe. So it was I wanted to be present and feel comfortable in what I was wearing. Yeah, in politics, it was an inordinate amount of media focus on what you wore, how you cut your hair or your hair, and it's always going to be that way. I wanted a women in leadership positions at is a novelty. It will wear off all the time that I continued my interest in fashion and wearing clothes that I love because that's who I am, and I didn't want to change and be something that others expected me to be or conform to stereotypes. It just wasn't me. So I wore the clothes that I liked and is interested in fashion. But when I became the foreign minister and the first woman to hold that role. Foreign ministers are always promoting Australian trade goods and services overseas, and I thought that the Australian fashion industry is such a significant part of our export economy. Very little serious attention. So it's a female foreign minister. It can't bring attention to it. So you can. So I started to promote Australian designers and stylish and photographers overseas, and there were times when our embassy or our high commission would host a fashion thread Australian fashion, Australian wool, Australian culture, Australian diamonds. Until we would get so much of the fashion media from that country to help an Australian fashion thrive that I'd done fashion diplomacy because we were using out our standing as an embassy or a diplomatic setting on the foreign minister to promote an Australian export. Now, if it were mining resources, oil, gas buying iron ore or nickel, somebody would have raised and I've got a single desk for the foreign minister. Well, I thought that as the fashion industry employs directly about 200000 people, indirectly, probably about 600000 people, and it's a massive export, and I think it's valued at something like 20 billion dollars. That's a significant part of the Australian economy. So I was proud to promote Australian fashion, and when I was dubbed the minister secession, I took it as a badge of honour. I know people were trying to use it as a way to trivialise what I was doing, but I thought that reflected more on them, that you can't be interested in fashion and hold down a job at the same time. What nonsense? [00:18:45][198.5]

Maddy: [00:18:46] So Julie Ren, you resigned as foreign minister. You wore a pair of red shoes which became so iconic that they ended up in the Australian Museum of Democracy and it became one of the most popular exhibitions that they'd ever had. It was this outfit that was then replicated into your very own Barbie doll, honouring you at the 2021 Australian role model for being a true trailblazer in politics, which I must say was a very refreshing change from some of the Barbies that we're used to saying. But we have to ask, how does it feel to have your very own Barbie and where can we get one? [00:19:19][32.5]

Julie Bishop: [00:19:20] Interestingly, I have always loved Barbie dolls from a very young age. I think my mother gave me my first Barbie doll when I was very young, and it was a replica of Jackie Kennedy, the first lady of the United States, those that would be hot hair and through boxing gloves and a Chanel jacket. So I had a Barbie doll, and I still have her one of my saved Typekit position. Barbie has been the subject of a lot of criticism over the years for fame. A few decades ago, they morphed into a much more powerful image and body game became a. Urging or book marrying or astronaut, in fact, they put up bodies that were representing careers that many women hadn't given in Bryce at that time. Then they have this fantastic data dream programme, and that's to inspire young women to dream of that wonderful career. It's going to be the woman you want to be. And they on the day with making a Barbie in my image, and she's a little foreign minister Barbie with a suitcase and a little Australian passport and wearing the radios and the blue suit that I wore on the day I was on. And it's the only thing that decided not to sign it. It's a symbol that she's on a astounding living room and looking wonderful. So it was just a recognition of the contribution that I've made to the empowerment of women and girls, particularly foreign minister, because it's a great deal of my time and energy on trying to support women, particularly in developing countries and in our part of the world in the Southwest Pacific and the Indian Ocean Asia Pacific region, empowering women and girls shigaraki programmes and really putting it on that because I truly believe that no nation can reach its potential unless and until it fully engages and connects with the ideas and talents and skills and energy of the 50 percent of its population. [00:21:27][127.3]

Sophie: [00:21:29] We definitely do agree with that. I think one of the perspectives we usually have as an investing podcast is we look at the companies behind, you know, whatever's happening in the world. And in this case with Barbie, it's Mattel. And it's one of those things that they kind of moved into that space of trying to really recreate their brand. And we often look at that with companies. But one of the things we were thinking is that they should really make a Barbie where you're wearing that the pink frock for the ovarian cancer campaign, because we absolutely loved that one. [00:21:57][28.5]

Julie Bishop: [00:21:59] I've been involved as an ambassador for cancer research for some years now, and both my sisters had and ovarian cancer scare when they were teenagers in it. I was trying to take them on, but nevertheless I was very conscious of the possibility of the risk, and I was asked to support raising money and raising awareness for cancer. And a fashion design in Adelaide came up with this idea of designing a beautiful bright pink frock and then wealth in a photoshoot. And then he would auction the dress off, and it's because he's young. I was diagnosed with cancer when she was about 22. She is 30, so all her 20s, she was struggling with ovarian cancer. And so it's such a touching story. She died in 2001 and Montaigne. I think 2020 is such a touching story that we've continued we've done making a fabulous dress, me wearing it in the most unlikely situations. The last one was on a mine site on the eastern mine site because the is are there any cancer programmes if he was to normalise conversations about cancer even in your workplace? For the photographer Russell Jones and I was thinking, now what's the most unlucky parts that you'd be talking about ovarian cancer and how about a mine site and the women in mineral resources? This is a lithium mine. The women on the mine just absolutely delighted to take part and support what we were doing for raising awareness, and some are doing cancer research. They can diagnose early detection of any cancer, which most women who are diagnosed to diagnose life insufficiency, so the life expectancy is nowhere near as positive as that. [00:24:00][120.9]

Sophie: [00:24:01] Well, maybe they can sell some babies with the pink dresses for charity, and we can help raise more money that way. [00:24:07][5.8]

Julie Bishop: [00:24:07] Well, I suppose I might have to wait in the care about that one. [00:24:10][2.5]

Maddy: [00:24:11] We are going to take a quick break for our sponsors, but we will be right back to chat more with Julie. [00:24:16][4.1]

Sophie: [00:24:18] So in your current role, you're the chancellor of ANU and in your experience, you know, with this podcast, we often talk about financial literacy. So I wanted to ask, why do you think you know, women in Australia are often or and around the world, often less financially literate than their male counterparts? And how do we go about changing this? [00:24:37][19.3]

Julie Bishop: [00:24:38] I think that is changing. It is a hangover of the old responsibilities of past eras of single income households. The men held the responsibility to hold down a job and provide for the family and women with the time of care, so that's changed dramatically. But I think that in some instances, women still do need the finances to be male partner. But now that women make up a majority of the workforce and they are living, they are gaining superannuation. They need to make financial decisions. They all need to try to buy the interesting comments and make sure that their deposits in that area. So even if you are in joint accounts and your husband handles all the finances with your partner or your significant other and with your finances, you really should understand where your money's going and what you're doing with it. There are lots of apps, lots of services that help support financial literacy. Even the big banks have financial literacy courses specifically dedicated and focussed on women's education in that field, and I think it's very important. [00:25:56][78.8]

Maddy: [00:25:57] More and more we're saying mainstream investing firms include a gender investing lens in their approach, you know, taking into account gender equality on boards and in leadership positions. We've got a system currently where, you know, quality is starting to look pretty good at middle management levels, but we still aren't really seeing that flow through yet to, you know, the CEO say, okay, f or levels, how can we have to get more women from middle management into these leadership positions? [00:26:26][28.4]

Julie Bishop: [00:26:27] I know that the federal government's Workplace Gender Equity Advisory Agency looks at this issue very closely. They take surveys of the largest companies in the private sector, in the public sector across Australia and analyse the position of women on the company towards gender equity and at the lower levels in middle management levels. You see, women take on significant roles in significant numbers, but when you get to the C-suite and you get to the executive level of the number four Ren domestically, much of that has to do with the biological fact that women do take time out of the workforce to drive the family of another primary care party for the children and for the parents. And so that that balancing work responsibilities and family obligations has always been a challenge for women. It often does come down to educating men who are responsible for providing other promotions to remind them that or educate them generally, that women can bring different leadership style and that needs to be recognised. Women do have a very keen respect. You have a very different leadership style, and sometimes people need reminding that the most efficient person in the room doesn't necessarily make the best team leader. And I think that as we spoke about earlier, a diversity of perspectives and opinions is a strength to any organisation, and it starts with A.. Exclusive. The bottom line for well, I [00:28:04][96.8]

Sophie: [00:28:04] think you've you've touched on it, but you know a lot of businesses out there, their purpose is to sell products and services, really. And if you're selling products and services in half the population you're selling to a women, then why wouldn't you have their perspective in the management level? How are you going to understand what they need? [00:28:18][14.0]

Julie Bishop: [00:28:19] Well, in fact, I've come across a number of companies where they essentially focus on selling goods and services to women. The board is made up mostly of men, and I've always found that fascinating. One is what women want things exactly. [00:28:35][15.8]

Maddy: [00:28:35] In many male dominated industries such as politics and finance firms, advertising roles and receiving far more applications from men and women. So how do we actually attract women into these industries in the first place? [00:28:49][14.2]

Julie Bishop: [00:28:50] Well, it depends very much on the nature of the industries and where the significant numbers of women are interested in that work. I addressed a conference the other day Women Enquiry, and they make up about 10 percent of the foreign workforce, but no vacancies because women start flat in different roles in jobs and positions that are available in some of these male dominated. I spoke about being at Mineral Resources lithium mine for the cancer. And I spoke to about 20 women who were on the site, and I asked them what jobs that come from and came out of retirement beauty salons across a whole range of different sectors of the economy. And they say that they hadn't actually appreciated what jobs were available for women. They didn't realise that they were processing jobs and jobs as well as administrative in the mines. So I think it's about the industries themselves promoting opportunities for women, individual companies, promoting the diversity of positions that are available and women educating themselves as to what we have actually open to them. And there are very few that women are not always in significant numbers. Of course, Asia, where the more men should be encouraging for female dominated leaders as much as women should be encouraging tomorrow, dominating the thing except diversity. I think that's the richness of the of the workforce, the dialogue and the outcomes. [00:30:37][106.3]

Maddy: [00:30:38] Yeah, I mean, I would absolutely agree with that. And I think you've hit the nail on the head that I was chatting to a friend the other day about some of the things that I've been doing at work and I work in finance. And she said to me, if I ever realised that, you know, you get to work with cool companies like that and get to interact with those kind of people, she's like, You know, I would have been so much more interested in that industry, but I just had no idea. [00:30:58][19.5]

Julie Bishop: [00:30:59] Well, that's I'm saying is politics, and people have a particular perspective on politics, and that's most unfortunate. But I would encourage anyone who has a passion for a particular topic to pursue. A career is on land may use in professional career. That you've got to be passionate about what you're doing. If you're not really interested and excited about it, you're in the wrong place in the wrong bill. Think about something else. I'm not suggesting you should go job hopping all the time, but you really have to have something in your life that makes you want to get up in the morning, getting to work and do what you have to do because you excited and delighted by it. And I found that that's the best way to get job satisfaction. Be really positive about the work you're doing. [00:31:45][46.9]

Sophie: [00:31:46] It's very sound advice. I know that maddy and I are very excited by doing this podcast every day because we know we're trying to help people, you know, get the society one step closer to closing that investing gap without investing knowledge gap that we do definitely say amongst our friendship group and peers. But touching on that investing gap, you know, one of the statistics that really inspired us to start this podcast is that females just make up 18 percent of online active investors in Australia, and we really do believe that investing does allow you to reach financial independence and freedom from your experience or your wisdom. How do you think we can close something like the investing gap? [00:32:25][38.9]

Julie Bishop: [00:32:26] Well, I think application is the key to building confidence as Shivani investing in products and stocks and so on that they understand how to get a thorough understanding of the potential risks and rewards would support higher levels of engagement by women. For the more women that there are in the financial sector, the more likely they are to have podcasts like this one, the more that is our word of mouth to tell others to get involved in investing. And you can have some amazing experiences as well as gaining that financial independence and freedom that so many women absolutely yearn for or useful. [00:33:06][40.6]

Sophie: [00:33:07] Yeah, it's actually one of those things that's so funny. We always hear people say all the time when they haven't invested before. They're like, That's too scary. I'm not going anywhere near that. And then once they start, they're like, Oh, this is fun. There's a community of people I can talk to. I'm learning so much like it's just that little step, you know, over to the other side. But then also having that community of people around you to guide you and help you with it. [00:33:27][20.0]

Julie Bishop: [00:33:28] And they're also professional friends and business organisations that can help you along the way. You don't have to be a multi-millionaire to find the likes of you or a friend to help you along the way. But once, once you've built that confidence, that understanding of what you're doing, I think people would really enjoy it. [00:33:45][17.5]

Maddy: [00:33:46] Julie, we have a couple of final questions to finish off today in your post political career. You how successful businesswoman and as a member of the International Advisory Board of Human Vaccines Project and American multinational software company Affinity, where do you say the biggest investment opportunities as we transition into the post-COVID world? [00:34:08][21.9]

Julie Bishop: [00:34:09] Yeah. Well, first of all, any potential investors should seek professional advice from their own research as I am not an investor. By far, so by the way, but I think there were a number of megatrends on the way before the global pandemic and that included what we call the Fourth Industrial Revolution, the technology revolution is continuing to disrupt the way we live and work, and he and it hasn't shown us the power of technology. It will now start adept at using Zoom or Google Tango or whatever instruments and technology, according to what it is at these 30 stages. We are told that the biggest disruption could become whether it can AI or robotics and quantum computing. So I think that areas of interest could be the emerging technologies in quantum computing and artificial intelligence and robotics and so on. But of course, onshore Western Australia should be encouraging people to continue to invest in mining companies who are very much focussed on renewable carbon free money. So I think some of the mining companies are still getting pretty amazing. [00:35:27][78.4]

Sophie: [00:35:28] Well, if you add in that little renewable thing there, I'm sure a lot of listeners would love hearing that because that's what that's one of the biggest trends we're seeing, for sure. [00:35:34][6.3]

Julie Bishop: [00:35:35] Well, in terms of green hydrogen, there are companies who are now taking to transition from fossil fuel based energy generation for renewables or hydrogen. And I think that companies understand that savvy investors are looking for that sustainability that's environmentally appropriate corporate activity. So we think is a real motivator for a lot of investors and that flows on to consumers. And then, of course, the businesses. [00:36:10][34.5]

Sophie: [00:36:10] Yeah, 100 percent. We've definitely been saying it ourselves. And our final question for you, Julie. If you could give one piece of advice to your younger self, what would [00:36:19][8.7]

Julie Bishop: [00:36:19] it be that made other people define who you are or what you can achieve? Set your own standards, your own benchmark for most applications. Many people would say benchmark fantasy that they couldn't or wouldn't make them so [00:36:33][14.2]

Maddy: [00:36:34] that some sage advice. Julie, thank you so much for joining us on your and good company today. It has been an absolute on it. Have you on and we have really enjoyed it. [00:36:43][8.5]

Julie Bishop: [00:36:43] I wish you all the very best. Thank you for having me. [00:36:45][1.9]

Sophie: [00:36:46] Thanks, Julie. [00:36:47][0.4]

Maddy: [00:36:47] What an incredible way to end season two of your in good company. [00:36:51][3.8]

Sophie: [00:36:52] But don't worry, we're not going anywhere if you still want to be listening to us over your Christmas break because we have our summer series launching next week. [00:36:59][7.6]

Maddy: [00:37:00] Over six short and sharp episodes, we are going to be giving you six of the best investing tips that every millennial should know when starting investing. [00:37:09][8.3]

Sophie: [00:37:10] As always, if you have been enjoying this content, please share it. Write us a review. Join all of our social media platforms because we love having you there. [00:37:18][8.6]

Maddy: [00:37:19] You can find us on Instagram at Wired UK podcast on Facebook in our Wired Investing Podcast, Discussion Group and on Tik-tok at y RJC podcast. [00:37:27][8.6]

Sophie: [00:37:29] You'll be catching our vacation selves from next week. See you then! Bye! [00:37:34][5.5]

Speaker 2: [00:37:36] You're in good company is a product of Equity Mates Media. All information in this podcast is for educational and entertainment purposes. Only is not intended as a substitute for professional finance, legal or tax advice. The hosts of your in good company are not financial professionals and are not aware of your personal financial circumstances before making any financial decisions. You should read the product disclosure statement and, if necessary, consult a licenced financial professional. Do not take financial advice from a podcast. For more information, head to the Disclaimer page on the Equity Mates website, where you can find ASIC resources and find a registered financial professional near you in the spirit of reconciliation. Equity Mates media and the hosts of your ink company acknowledge the traditional custodians of country throughout Australia and their connexions to land, sea and communities. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people. Tik-tok. [00:37:36][0.0]

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