Why is Black Friday ‘Black’?

Adam: [00:00:25] Hello and welcome to Comedian versus Economist. We demystify the world of money and help you get a handle on the bigger picture. My name's Adam and we're joined, as always, by my little older brother and real life economist Thomas. Hi, Thomas. 

Thomas: [00:00:39] Good Adam, how are going? 

Adam: [00:00:39] Excellent. Thank you. Don't forget, if you're looking for a present for a loved one, perhaps a nice stocking filler or even a treat for yourself, then check out the Equity Mates Get Started Investing feed book available online at BookTopia and at all good bookshops. Cracking Read lots of information to get you started on your investing journey with Thomas Massive Show coming up. New Zealand is well known for its hiking rates. We'll find out where they've taken them now. And when life gives you lemons, you should sell them at the lemon markets. We'll find out why lemon markets might be important. And hey, Alexa, where did you put Amazon's billions of dollars? We'll find out a bit later on in the show. But first, Thomas, Cyber Monday today, Black Friday last Friday. Call it what you want. Shops are having sales as they often do. What's it all about? 

Thomas: [00:01:33] Yeah, it's big now. It's, um. It's yeah, I don't quite realise, but it's, it's become the busiest black will. Black Friday now eclipses Boxing Day as the busiest day of the year for Metro. Yeah, yeah, yeah. It's bigger than the whole week before Christmas. 

Adam: [00:01:50] It's much more convenient than Boxing Day.

Thomas: [00:01:52] I know. 

Adam: [00:01:53] Like you've got the Boxing Day test match on now. No one's going to the shops. 

Thomas: [00:01:57] They go shopping after Christmas. I've never understood. 

Adam: [00:01:59] That people dragged themselves there because they were getting bargains like people used to line up. I remember. 

Thomas: [00:02:04] Yeah, yeah. 

Adam: [00:02:05] Yeah. I guess lining up is a thing of the past, too, because you've got, like, online now, which is. 

Thomas: [00:02:09] Yeah, but the Boxing Day sales are down now last four years. 

Adam: [00:02:12] I don't even want to be online during the Boxing Day test. The first day of the Boxing Day test. Mhm. That's what Boxing Day is for. 

Thomas: [00:02:19] Right. It gives you total focus to the end or family. 

Adam: [00:02:26] Christmas days and family boxing days for me. All right. That's fair enough. We also have in our house Christmas Day, we have Boxing Day. And then we have to do nothing the day after Boxing Day just to kind of just enjoy doing absolutely nothing, which is very similar for me to Boxing Day, where I'm watching cricket all day. There's absolutely no commitment to doing nothing every day. Anyway, I digress. 

Thomas: [00:02:59] So you Know, speaking of that Ruslan Kogan was saying that he expects the Black Friday to be to be 500% above average the training so massive and seems to be going off Gerry Harvey from Harvey Norman saying that everyone's out there they're expecting to do record trade. Hmm. All the bargain hunters are out there. The biggest sales are in computers and electronics. There's still a lot of money in the community and people are looking to buy now instead of waiting. 

Adam: [00:03:26] Was it called Black Friday when that came from? 

Thomas: [00:03:29] Well, it's an American thing. And it comes after Thanksgiving, but Thanksgiving on Thursday. Yeah, it was a bit like you're talking about last week with the holiday so that you get a holiday on Thursday. And then Friday was a work day, but Norm would show up to work. Yeah, right. And so they were saying it was like Black Friday, like the Black Plague. 

Adam: [00:03:51] Right. Because it does certainly give you a negative connotation around when you hear a Black Friday, you think that's bad. Must be. Yeah, but no, it's good. It's a bargain. 

Thomas: [00:04:01] Retailers tried to rebrand it a few times, so like, I think, is it? Yeah. Harvey Norman was calling it Big Friday, right? But that hasn't really taken off. And then the retailer in America was saying that it's trying to create the myth that it was when retailers went back in the black. 

Adam: [00:04:18] Okay. Right. 

Thomas: [00:04:19] But that's not that's not where it comes from. Yeah. I just tried to put a spin on it and then found that people weren't that excited to make retail shops profitable. It wasn't a motivator for consumers. So yeah, but it's going gangbusters in Australia.

Adam: [00:04:35] I did hear some interesting data this morning actually. They said that Black Friday sales in the US were up 2.3% on last year and they are talking in the trillions or billions of dollars that that represents. But they're saying that 2.3% is not actually a particularly big increase like at this same time last year when there was lockdowns and COVID and and it's not even keeping up with inflation. So true. 

Thomas: [00:05:01] True. 

Adam: [00:05:01] Yeah. 

Thomas: [00:05:02] So it's good. I mean, that's what the Australian Retailers Association was saying. They're expecting 6.2 billion over the weekend, but that's up from 6 billion last year. So it's a fairly modest increase. Um, but still, I mean it's going up, which is, and that's sort of the interesting insight it gives us into the economy. Like it looks like, you know, Harvey Norman saying he's setting a record. Retailers seem pretty happy with it. With how it's going. Hmm. That's in. In spite. Yeah. Despite the rate hikes that we've seen. So rate hikes don't seem to be denting consumer spending. They're not cutting into that savings pool that they've had. So Harvey Norman said there's still a lot of money out there in the community. 

Adam: [00:05:44] Is that Harvey Norman saying that then people aren't cutting into their savings pools or is that like. Because that's the question, isn't it like are people still just wealthy and well-off or are they kind of going, I'm Feigen, I've got to get the bargains so I'll put off whatever other, you know, like food purchases we need because we need a big screen for the World Cup, you know, knockout stage. Yeah. Which I totally understand and support and endorse. I've been looking, so I had a big screen for the knockout stage of the World Cup.

Thomas: [00:06:19] Yeah, I had to and I had to. Nine. But yeah, it does suggest we're not cutting back. I mean, it might be a pull forward. That's the other thing. Like it because it's only five years old that it's taken off in Australia like five years ago they weren't Black Friday or Cyber Monday. That was, you know, it wasn't really a thing and Boxing Day, so sales are on the way, are falling. So it might be that we're just switching consumption from close to Christmas to now.

Adam: [00:06:46] It makes sense like people have got a lot more money pre-Christmas you know, like I think they are and they're looking for presents like people are thinking right now about what to buy their loved ones for Christmas. Could I perhaps recommend Equity Mates Get Started Investing feed book as an option if you're out there looking? But people are, you know, they're looking to spend now because they want to buy things for Christmas, whereas Boxing Day, you've just bought stuff all December, you just got to have the stuff that you got gifted as presents. Yeah, you're probably like I was never that enthused about. Yeah, even, you know, buying anything at all come Boxing Day, you know? So spending's good though, right? Like for the I mean. Well, it's good. It means that people are okay but I guess the RBA would say that wouldn't they. And they'd go okay. Well this is not good, it's not what we want. 

Thomas: [00:07:36] Not good. Oh, I need to see more unemployed people. That's what it was thinking about their spending. 

Adam: [00:07:44] Yeah. You better be buying a big screen cause you're going to be stuck at home soon once we get the unemployment numbers up. All right, Thomas. The RBNZ, the Reserve Bank of New Zealand, what are they up to? 

Thomas: [00:07:59] Yeah, they dropped a monster hike last week. 75 basis points. Yeah. Yeah. That's the biggest increase ever for the RBNZ since they introduced an official cash rate back in 92. Yeah, it's a big lift. I've now had 400 basis points since October last year and am leading the world. Actually, New Zealand's number one, they've high.

Adam: [00:08:22] Killing it. Yeah.

Thomas: [00:08:22] Hike the most of all. Well one they were first though first of the rate hike party and they've hiked more than any other. Well anyone else in the Anglosphere. 

Adam: [00:08:32] I guess the obvious question then is why? Why are they so enthusiastic about raising rates? 

Thomas: [00:08:38] Yeah, well, part of it, I mean, they've got inflation like everywhere else. So CPI at 7.2% is too high. Food price inflation is at a 14 year high of 10%. So too much inflation in the system. Things that are different from Australia is one, they've got wages pressure so they've got yeah, average hourly earnings in the private sector up 8.6%, which is, which is massive. So it does look like wages are getting a little out of hand potentially in New Zealand. So they need to stomp on that. But the other interesting thing about New Zealand is that, you know, we talked about some countries sort of a cultural difference around whether you have fixed or variable mortgages high. In New Zealand, 90% of mortgages are fixed, right? 

Adam: [00:09:22] For how long are they like because we talked about the US having a fixed 30 years or whatever. 

Thomas: [00:09:27] Don't know. I think it's more like hours, like two, three or four years kind of thing. So a lot of people fixed during COVID at really low rates. So half the mortgage market over the next 12 months is going to come off fixed rates and reset at rates of 300 basis points higher. So they're going to have a big, big reset coming. But what it means is that the 400 basis points that we've had out of the RBNZ hasn't touched consumers yet. 

Adam: [00:09:57] Right. 

Thomas: [00:09:58] So with Australia, with you know, with most of us on variable mortgages, the RBA hikes and people feel it immediately, they're like, oh well okay, that's, you know, you get a letter from the bank and right now you're paying more out of you, out of your income on your mortgage and that slows things down in New Zealand is not the case because everyone's half the, you know, 90% of people aren't fixed, half that half of them are fixed. It's super cheap. We've covered 400 basis points. Don't touch them yet. Right. So it looks like the RBNZ is like, wow, I need to like we need to sort of drop a psychological bomb on the New Zealand population. 

Adam: [00:10:35] And they're sort of two mind games. Yeah. That's the Reserve Bank strategy when they get in their heads. Yeah. We just keep. 

Thomas: [00:10:46] Niggling at them from silly Miron. 

Adam: [00:10:49] But when they look at their window and they see the RBNZ van, they'll know the call comes up on your phone. 

Thomas: [00:10:58] RBNZ and is just breathing. 

Adam: [00:11:01] Yeah. So they get, so they've got to shock people because, because. 

Thomas: [00:11:03] It's people are still feeling the pain of it and so they need to get it on the front page of the newspapers, they need to have that biggest rate hike ever kind of at all. Yeah. To get people to kind of take a pause and go, oh, well, okay, we've got some big rate hikes coming. I need to maybe, maybe slow things down. 

Adam: [00:11:20] How do they get it out ahead of Black Friday or you probably would have. I think they did. I think that is or in New Zealand it is. It's good. It's got all Black Friday in New Zealand. All right. Before we take a break, Thomas, we did have a couple of listener questions come through which we love getting will send us an email cve@equitymates.com. He says he's on a quest of self-development to financial literacy, not something I can relate to, but each to their own, he said. We hear of major drivers of current inflation being supply chain shortages, China, lockdown, Ukraine war, etc. In a world where these things hopefully ease over the next few years, he's expecting that inflation driven things may start to slow down. So he's kind of saying as these things ease, why do we then not expect to see negative inflation as a result rather than just a reduction in inflation? Could we possibly see negative inflation? 

Thomas: [00:12:19] Yeah. Good question. Yeah, it is definitely possible. Historically, you don't tend to like periods of deflation very rare. And because I think because the basket of goods is so broad and there's just a general tendency for things to go up. And then if cost pressures ease, businesses tend to leave their prices up and see if they can get away with expanding their margins first. Right. So yeah, typically, typically you don't see it. But in this period, I think it is quite possible because so much of it is energy related and energy prices have spiked and could correct quite sharply. And so they could go from being a big contributor to inflation to being a big, you know, subtracting from inflation in a substantial way. And if that sort of offsets the rest of the basket of goods, then you might see deflation. I don't think it's super likely. I think it's probably more likely that the pace will just slow down. Yeah, but it is definitely possible and definitely possible with this period. But it'll be brief I think, if it is. 

Adam: [00:13:18] So have we seen deflation before? Like is that a thing? 

Thomas: [00:13:22] It's yes, definitely a thing is definitely a thing. But it's very rare. Like I don't remember not in our lifetime in Australia I don't think now. 

Adam: [00:13:30] Yeah. Well hopefully that answers your question. Well we had another one from Quintin who sent us a message via Instagram @cvepodcast. He says, I just have a question about wages. I hear a lot of commentators saying that if we raise wages and the economy will collapse because companies won't be able to pay their employees that understand this logic, when it seems higher wages will equal higher disposable income, which would equal higher profits seems like a win-win to me. Thomas Is this the wage price spiral risk that we talk about? If ever, if we just jack up everyone's wages, they'll spend more and prices will go up. Yeah. 

Thomas: [00:14:04] Yeah, that's right. Well, what he identifies there is, is an interesting point about like the wages are more from term in terms of consumer spending. Wages are higher, wages are a good thing. So if you're a consumer facing business, you like higher wages, not for your staff, but for others. If everyone else apart from your staff got higher wages, that's a good thing. And it was said.

Adam: [00:14:28] But hopefully your staff don't have any friends that are telling them that they all got a pay rise. Yeah, yeah. 

Thomas: [00:14:37] But I think I think it was forward back in the early 1900s. He was saying that he'd like to pay his workers good wages because then they would go out and buy cars. So he sort of identified that. And I think Mark sort of was one of the internal contradictions of capitalism, is that companies want to suppress wages, but wages are necessary for consumption and for business profits. So you say that that's one of the internal contradictions that's going to ultimately lead to capitalism's collapse hasn't yet. But, you know, Cook's still. 

Adam: [00:15:11] Running. It's early days. 

Thomas: [00:15:12] Early days. 

Adam: [00:15:13] Yeah. Yeah. Scheme of things. Yeah.

Thomas: [00:15:15] Yeah. So, yeah. So it's a tension. It's a dynamic tension in the economy, like wages. Higher wages are good sometimes. In some it depends on the context. 

Adam: [00:15:23] But thank you so much for sending a question. Don't forget you can post it yourself cve@equitymates.com If you want to send us an email or via the website equitymates.com/cve Or do our Quinton Deed and send us a message via Instagram or Facebook at CV podcast. But for now, let's take a quick break. Grab a word from this week's sponsor and be back with more comedian versus economist right after this. Welcome back here on Canadian versus economist Thomas. It's been a few weeks since the collapse of FTX. We covered it with a special bonus episode last week. If you haven't heard that yet, go and check that one out. How are we now as crypto sorted itself out? Well, we're back on the straight and narrow. 

Thomas: [00:16:06] Well, yes, the market seems to have stabilised, but there's a lot of it's only one week. One week doesn't make a stable market and still a lot of questions hang over there. Over the past week, the big questions have been around Genesis, which is a prime broker, so sort of an institution. 

Adam: [00:16:22] Phil Collins Yeah. Phil Collins Ben's right. It's got its day is released. His own coin, the.

Thomas: [00:16:30] Genesis are prime brokers. That means they're sort of an institutional lender in the crypto space. Quite important, that sort of institutional money. It sounds like big questions around them over the past week. The timeline is pretty funny, as it were. Watching it play out on November 8th. They said they've got no material net credit exposure to the FTX's collapse. And then the day after that, on November 9th, they said, actually, we've lost 7 million. The day after that, they said, Oh, actually it's 175 million. Then on November 16, they went, Oh, actually, no, you can't take your money out anymore. We're going to freeze, freeze it. And the day after that, they said, actually, we need $1 billion. 

Adam: [00:17:09] Otherwise we needed raising capital.

Thomas: [00:17:13] And November 21, they said we're going to go bankrupt if we don't get that money. And then the day after that said, actually, no, we're not going to go bankrupt. That's a rumour. 

Adam: [00:17:20] So it's a rumour that we started when we asked for a $1,000,000,000 bailout. Yeah. Sorry. I don't know why you thought we were in trouble, that we're just a regular company looking for $1,000,000,000 to bail us out of a liquidity crunch. Yeah, in the middle of a crypto shakeout. Yeah. Then why? Where did you get that idea from? 

Thomas: [00:17:44] I mean, I think it's I think it's really interesting in the crypto space right now, there's sort of a big question around trust. There's a there's a really interesting paper in economics written in 1970 called The Market for Lemons, written by George Akerlof, who went on to win a Nobel Prise in 2001. But he talks about what happens in a market when there's information asymmetry between buyers and sellers, specifically when sellers have more information than buyers. So like the thought experiment is you imagine a used car market and there's good cars in the market and there's lemons, and if you're buying a car, you don't know which is which. You don't you don't have that information. And so what in economic theory, what you're willing to pay is the average price of the value of a lemon and the value of a good car. Yeah. So the good cars worth 5000 and the lemons worth 1000, are you going to pay something in the middle of that? Because you just don't know. 

Adam: [00:18:43] Maybe add on extended warranty? 

Thomas: [00:18:45] Well, I think we get to that. So in the absence of any sort of institutional factors like that, you're only willing, you're only willing to pay that average. But as a seller, you know, you know, your car is worth good money. Hmm. And buyers aren't willing to pay good money. And so you leave the market, you just go like, well, I'm not going to get I know my car is worth more than that. I'm not going to I'm not going to sell it. Right. And then you get this kind of spiralling dynamic where as the good cars leave the market, the average price people are willing to pay goes down. That pushes more good sellers out of the market, the price goes down and eventually the market is killed. You have no market left at all. Right. And you say and it's sort of like a model that proves how that dynamic plays out. And I think we're sort of seeing something a bit like that in the crypto space is that there's a big asymmetry between the big players in the space who know what they're doing and know what their holdings are and all of that. And then what's happening with the consumers of these products where they don't know, you know, what's happening behind the scenes. And in the absence of any institutional factors, that has the potential to kill the market completely. Because as a consumer, you don't know what you're getting and you're not willing to offer value. The good players leave the space and you get this sort of death spiral. 

Adam: [00:20:04] I'm not convinced that anyone knows the value, though, in this crypto space. Like, isn't that the isn't that the problem? That the sellers don't know the value? The buyers don't know the value. Everyone's just like they're just trying to sell, hoping that there's buyers and there are buyers because people are like, I think it's probably going to go up. Yeah. So it's a buy at least if you buy a car, you get a car, but it might have a broken engine or it might have a flat, flat tyre or whatever. You still got a car? Yeah. Yeah.

Thomas: [00:20:34] But I think but it's also like I'm not just talking about sheet coins. This is also about custodians and lenders in the crypto space when it's unregulated. So the interest is like the interesting thing about what Akerlof says. This is where you get these institutions to preserve the market. You then get institutions either at a regulatory level where the government comes in and says, if you're found to be selling lemons, you're going to get prosecuted and you'll do jail or whatever. So you have like some kind of government set regulatory settings or you have voluntary settings where like the warranties and guarantees and that sort of thing. And that's how and that's how the players preserve the integrity of the market and go like, I'm willing to offer guarantees of that that way, you know, you know that you're getting a good deal. And this is sort of wick where crypto, I think, is now. Now facing is like, do you build trust by going down the regulatory route and building sort of regulatory infrastructure around the crypto space? Or do you try to build it internally and buy proof of proof of custodian, proof of assets, that sort of stuff, and somehow do it internally. The interesting thing about thinking about doing it internally, like, you know, you think about a car, a used car lot offering a warranty. That's a voluntary arrangement, but it's still a contract and it's still a contract that is enforced by the metal level. You know, infrastructure, if you're a used car lot, sells you a dot and they've given you a warranty, you've got a legal contract that you can then take to court and say, hey, they, they promised they would do this. The court and the police system and the force of government comes, goes, yet you've got to actually uphold that. So even though it's sort of a voluntary decentralised arrangement, it still relies on centralised infrastructure. Does that make sense? 

Adam: [00:22:20] Yeah, it does. I guess the challenge is in that example that the used car salesman sells the car and offers the warranty, then your car breaks down the next day. It's unlikely that you've gone back to the car lot to find that it imploded overnight. And the owner of the car is living in the Bahamas and no one can find you. Yeah. Yeah. Another one of the challenges for crypto, so there's no there's no agency or whatever or regulators, courts, police, whatever in the crypto sphere. 

Thomas: [00:23:00] No, no, that's right. That's right. And so you might see players, I think emerge in the crypto space that like an auditor of sorts to say like, you know, we audited Binance and you know, we don't.

Adam: [00:23:10] Negotiate in the Bahamas with the owner. That's right. That's right. 

Thomas: [00:23:15] So it pushes back that layer of trust. One level. We all know they got audited, but then you've still got to trust the auditor, right? Like so there's still that problem. And having a blockchain in the mix doesn't solve that fundamental trust problem. 

Adam: [00:23:29] Yeah. And this would. 

Thomas: [00:23:30] I kind of feel like with crypto is my sense like, okay, so I'm a bear now, so I'm popping off now that crypto has collapsed, I'll go quiet again in the next boom. But yeah, for now it's like it looks to me like crypto is just reinventing the money, money, monetary and government settings from first principles and they go, wow. Like if we just invent money and let people do whatever they want in the unregulated space, people get ripped off and lose heaps of money. Maybe we need regulation. 

Adam: [00:23:59] I can't wait to say the first. The first bitcoin came out with a warranty, some price beat guarantee. You know, if you buy doge .00 $0.03 and it goes and it drops 2.2, we'll pay you the difference. All right. Time is finally on the show. Amazon news out of Amazon. Alexa is in trouble. What's happened to her? Yeah. 

Thomas: [00:24:28] A Business Insider was running the story this week that Amazon's thinking about cutting Alexa loose. I'm saying that, yeah, Amazon's worldwide digital unit, which is responsible for Alexa and other other devices, lost $3 billion in the first quarter of 2022 alone. Wow. Yeah. You know, potentially 12 billion a year. Just bleeding cash.

Adam: [00:24:51] When you said you were thinking of cutting Alexa loose, I thought they were talking about taking the shackles off and just letting the action light just right. We're just going to. She's 20 and now we're putting Alexa business away. We're putting Alexa Recharges. She's running Amazon now. You know, somebody like Hey. 

Thomas: [00:25:12] Alexa by some Tim Tams not for you fatty.

Adam: [00:25:16] Yeah. 

Thomas: [00:25:16] So bleeding, you know, 12 billion a year. That's bleeding a lot of money. And Amazon, you know, Amazon shares are down 45%, I think so far this year. They're in the you know, they're doing it tough looking to cut costs. They're looking to cut 10,000 off 10,000 people, like 10,000 engineers from that devices division. 

Adam: [00:25:37] Man, I wonder how they're going to find out. Just be like, Hey, Alexa, as my commute to work looks like this morning, it's pretty good. You have a job anyway. All right. That's a lot there. 10,000? Yes, 10,000 employees. 

Thomas: [00:25:54] Substantial. Substantial. Yeah. It's kind of surprising to me a lot when you look at the numbers. But like, I thought Alexa was crushing it. Like, yeah, it's out there. It dominates the smart speaker market. Like it's got 69% market share. Google homes at 25%, Apple HomePod at 5%. Facebook portal. I've never even heard of that 1%.

Adam: [00:26:16] Sounds like most people have never heard of it. 

Thomas: [00:26:18] It's a portal to the metaverse. Yeah. So it's 69% market share that's crushing it and you know, and popular like it's out there. It's definitely out and around a good sort of reach but they just hadn't found any way to monetise it. 

Adam: [00:26:33] That's the thing. I remember I brought a Google home home and and I was like, what are they doing? I thought, well, you can ask for it stuff. And she's like, Yeah, like what? And I'm like, well, like the weather. And you do the basic things you like, look at the weather. What's the weather today? And it tells you the weather. Yeah, but then you go, Oh, okay. Well, now it could maybe set an egg. Tauber That's kind of like you users run out really quickly. 

Thomas: [00:26:58] Fairly quick. Yeah. 

Adam: [00:26:59] Yeah.

Thomas: [00:27:00] That would try to push people to buy stuff. The hope was that people would get the elixir and then use it to buy stuff off Amazon. Hmm. But it just wasn't taking off. And it actually, you know, just sounds like a dumb idea. Like, I just wouldn't trust voice to order the right thing for me. Like, I want to look at the products and compare a few products. 

Adam: [00:27:20] And I mentioned weather like that's bread and butter. That should be like an easy slam dunk. Like we often ask Google the weather and like I live in Brighton in South Australia and it gives us the weather for Brighton, not even Brighton in Victoria but Brighton in the UK. So you take that kind of level of air and accuracy and you go, am I really going to order like my next, my $3,000 TV through Amazon, you know, like through Alexa or even order a pizza like you order a Hawaiian pizza, you're going to get an Italian pizza. It's just nowhere near accurate enough. 

Thomas: [00:28:00] Mm. 

Adam: [00:28:00] I read this thing that is interesting. There was a thing talking about the smartphone and how the smartphone is still the king after like lots of different technologies have come along trying to like claiming to sort of be smartphone killer. And I think voice was one of them, you know, and there's things, other things like Google Glass or the glasses or whatever. But smartphones are still the way that most people like to kind of interface with the world. So as if you're browsing products. 

Thomas: [00:28:29] Yeah. So yeah, yeah. I think it's just an idea that's just not going to take off. Privacy is also a bit of a concern, like it's one thing for me like the idea of this is something a device in my house constantly listening to it reciting. 

Adam: [00:28:42] Oh, you old fuddy duddy. Yeah, I know. See, I like it, but I'm. I'm trying to outsource as much of my parenting as I can to these devices. Yeah, like I heard, a lot of parents don't want these things, like in their kids bedrooms, for example. But for me to be able to tell the smart speaker in the living room, to tell the smart speaker in the kid's bedroom, to be quiet, go to sleep, that saves me getting up and walking. But it's a double edged sword because my kids have now started fact checking me on Google. I will be having dinner and they'll be like, Hey Dad, how far is it from here to Melbourne. It's 8 hours really. And, they'll literally just lie in front of me though. Ask Google how far it is and just like I told you. Well yeah, we just want to check with Google. Yeah. Emily, actually, once she said that she's so she's seven. She said I said, what? What do you want to do, what would you like to do when you grow up for a job? She goes, I want to be Google. She's yeah, she thinks Google's got a pretty sweet existence. It's that it answers questions I guess to chat to people. Yeah. Well, maybe she can replace the 10,000 engineers. Yeah, yeah. I think I might have some work to do on my kids' relationship with technology. Yeah, I mean, I'm all for home automation. I love the home automation stuff, but yeah, I think the smart speakers and all that, I can say that they haven't really, they haven't really taken off in our house and we've got them everywhere. I just interrupt us and we're watching TV. All right. That does it for this week, I reckon. Thank you so much for tuning in. I really do appreciate it. Don't forget to check out all the other great shows across Equity Mates media and. Including The Dive, which is now the award winning The Dive hosted by Sascha Kelly from Equity Mates Media. And Sascha also does production work on this show. She produces each and every episode. She is an amazing person and she has an amazing show as now certified by the recent podcasting awards. So if you haven't heard it, go and check it out. But that's all for us for this week. We look forward to chatting to you again next week. It's bye for now.