February 9, 2025 • 6 mins
The Victorian government is going on a sport-spending-spree after landing a mutli-year deal to host NFL games in Melbourne as well as the NBA.
MCoBeauty, the Australian cosmetics and skincare company, has been sold in a deal that is understood to value the company at $1 billion.
Tinder is hoping to turnaround its declining user base by pushing AI into its product to help discover new matches.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:05):
This is what the Flux.
Speaker 2 (00:06):
I'm Brett and I'm just send It's Monday, the tenth
of February.
Speaker 1 (00:09):
Does wait.
Speaker 3 (00:09):
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.
Speaker 1 (00:19):
A partner in the tech industry.
Speaker 2 (00:21):
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.
(00:41):
In the Flux app. It tells you how much you're
paying and forecast the rest of your month as well.
To make sure to download the app and check out
the subscription.
Speaker 3 (00:47):
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.
Speaker 2 (01:02):
Man I thought Victoria was in a heap of debt,
So what is going on here?
Speaker 3 (01:06):
Well, Josey boy, As you know, Melbourne may not have
the ocean views like Sydney or the glitz of the
Gold Coast.
Speaker 2 (01:11):
But it does pride itself on its coffee culture, it's
art scene and of course being the home of sport.
Speaker 3 (01:17):
Yeah, between the Australian Open, Formula One, Grand Prix, AFL
Grand Final Melbourne cast.
Speaker 1 (01:23):
It brings a lot of people to the state.
Speaker 2 (01:25):
But now be man. Victorian government has announced it's landed
a multi year deal host of the Los Angeles Rams
in the NFL.
Speaker 3 (01:32):
And we're not talking a casual exhibition game here, Jesse boy.
We're talking a real regular season game.
Speaker 2 (01:38):
And how much moul are we talking for this deal?
Speaker 3 (01:40):
Well, it's believed that the vig government will pay around
fifteen million bucks to host each.
Speaker 2 (01:45):
Game, or, as the new South Wales premier called it,
a king's ransom.
Speaker 3 (01:48):
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.
Speaker 2 (01:57):
And they'll be competing against local NBL team.
Speaker 3 (02:00):
This will be like the Loon Tunes playing against the
Harlem Globetrotters.
Speaker 2 (02:03):
So true. So what is the key learning here?
Speaker 3 (02:05):
Bringing major sporting events to a state is always a
high stakes game for governments.
Speaker 2 (02:10):
Yeah, they need to balance the hefty price tag with
the promise of economic returns.
Speaker 3 (02:15):
And there are always critics who reckon splashing millions on
sports can seem like a bit of.
Speaker 2 (02:19):
A luxury Hello Commonwealth Games twenty twenty six. But be men.
His history suggests that Victoria has made these investments work sometimes.
Speaker 1 (02:27):
Take the Australian Grand Prix.
Speaker 3 (02:29):
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.
Speaker 1 (02:40):
Compared to the one hundred mili that the government invested.
Speaker 2 (02:43):
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.
Speaker 1 (03:04):
Didn't we just talk about how sday Lauder was struggling?
Tell me more so.
Speaker 2 (03:07):
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.
Speaker 3 (03:14):
In twenty twenty, she realized that there was a bigger
opportunity in offering more accessible and less expensive beauty.
Speaker 2 (03:20):
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.
Speaker 3 (03:35):
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.
Speaker 2 (03:45):
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?
Speaker 3 (03:54):
Jube culture is where products are copied and sold at
a lower price point than the original, And they man.
Speaker 2 (03:59):
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.
Speaker 3 (04:13):
But dose boy, what's interesting is that sixty percent of
young customers would actually prefer the dupe over the og product.
Speaker 2 (04:19):
Even if they could afford the real thing.
Speaker 3 (04:21):
And as a result, some beauty companies they are even
producing their own knockoff versions to capitalize on the trend.
Speaker 2 (04:26):
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.
Speaker 1 (04:33):
And it would appear that the bigger winner is MC beauty.
Speaker 2 (04:36):
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.
Speaker 1 (04:46):
When swipe fatigue kicks in, Tinder turns to AI.
Speaker 2 (04:49):
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.
Speaker 3 (05:08):
Over the past few years, Tinder has seen its active
users continue to decline.
Speaker 2 (05:12):
And why is that? Be man less singletons in the world.
Speaker 3 (05:15):
Quite the opposite, juzzy boy. There are still many singletons,
but many single people have grown tired of online dating.
Speaker 2 (05:21):
So now Tinder's rolled out a new AI feature. It
will supposedly help improve the quality of matches.
Speaker 3 (05:27):
Basically, instead of swiping, you can use a trusty AI
matchmaker to find matches for you.
Speaker 2 (05:32):
But be man, Let's be honest. Tinder's business model is
probably one of the trickiest challenges that they're facing right now.
Speaker 1 (05:37):
So true, so what is the key learning here?
Speaker 2 (05:39):
It's tricky to build a business when your success means
your customer's failure juzuwait.
Speaker 1 (05:43):
Tinder's business model is built on a paradox.
Speaker 2 (05:47):
People pay for premium features to increase their chances of
finding a.
Speaker 3 (05:50):
Match, but if they succeed, these people no longer need
the app and they stop paying.
Speaker 2 (05:54):
On the flip side, if they don't find a match
and grow frustrated with online dating, they also leave and
stop paying.
Speaker 1 (06:00):
It's a tricky balancing act for old Tinder.
Speaker 3 (06:02):
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.
Speaker 2 (06:13):
In fact, their users dropped by ten percent in October
last year and nine percent in November and December.
Speaker 3 (06:18):
So Tinder is hoping its AI powered matching could help
this balance by making the dating process feel more achievable.
Speaker 2 (06:24):
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.
Speaker 1 (06:42):
Thanks for listening, and we'll see you on Wednesday.
This is what the Flux.
Speaker 2 (00:06):
I'm Brett and I'm just send It's Monday, the tenth
of February.
Speaker 1 (00:09):
Does wait.
Speaker 3 (00:09):
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.
Speaker 1 (00:19):
A partner in the tech industry.
Speaker 2 (00:21):
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.
(00:41):
In the Flux app. It tells you how much you're
paying and forecast the rest of your month as well.
To make sure to download the app and check out
the subscription.
Speaker 3 (00:47):
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.
Speaker 2 (01:02):
Man I thought Victoria was in a heap of debt,
So what is going on here?
Speaker 3 (01:06):
Well, Josey boy, As you know, Melbourne may not have
the ocean views like Sydney or the glitz of the
Gold Coast.
Speaker 2 (01:11):
But it does pride itself on its coffee culture, it's
art scene and of course being the home of sport.
Speaker 3 (01:17):
Yeah, between the Australian Open, Formula One, Grand Prix, AFL
Grand Final Melbourne cast.
Speaker 1 (01:23):
It brings a lot of people to the state.
Speaker 2 (01:25):
But now be man. Victorian government has announced it's landed
a multi year deal host of the Los Angeles Rams
in the NFL.
Speaker 3 (01:32):
And we're not talking a casual exhibition game here, Jesse boy.
We're talking a real regular season game.
Speaker 2 (01:38):
And how much moul are we talking for this deal?
Speaker 3 (01:40):
Well, it's believed that the vig government will pay around
fifteen million bucks to host each.
Speaker 2 (01:45):
Game, or, as the new South Wales premier called it,
a king's ransom.
Speaker 3 (01:48):
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.
Speaker 2 (01:57):
And they'll be competing against local NBL team.
Speaker 3 (02:00):
This will be like the Loon Tunes playing against the
Harlem Globetrotters.
Speaker 2 (02:03):
So true. So what is the key learning here?
Speaker 3 (02:05):
Bringing major sporting events to a state is always a
high stakes game for governments.
Speaker 2 (02:10):
Yeah, they need to balance the hefty price tag with
the promise of economic returns.
Speaker 3 (02:15):
And there are always critics who reckon splashing millions on
sports can seem like a bit of.
Speaker 2 (02:19):
A luxury Hello Commonwealth Games twenty twenty six. But be men.
His history suggests that Victoria has made these investments work sometimes.
Speaker 1 (02:27):
Take the Australian Grand Prix.
Speaker 3 (02:29):
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.
Speaker 1 (02:40):
Compared to the one hundred mili that the government invested.
Speaker 2 (02:43):
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.
Speaker 1 (03:04):
Didn't we just talk about how sday Lauder was struggling?
Tell me more so.
Speaker 2 (03:07):
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.
Speaker 3 (03:14):
In twenty twenty, she realized that there was a bigger
opportunity in offering more accessible and less expensive beauty.
Speaker 2 (03:20):
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.
Speaker 3 (03:35):
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.
Speaker 2 (03:45):
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?
Speaker 3 (03:54):
Jube culture is where products are copied and sold at
a lower price point than the original, And they man.
Speaker 2 (03:59):
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.
Speaker 3 (04:13):
But dose boy, what's interesting is that sixty percent of
young customers would actually prefer the dupe over the og product.
Speaker 2 (04:19):
Even if they could afford the real thing.
Speaker 3 (04:21):
And as a result, some beauty companies they are even
producing their own knockoff versions to capitalize on the trend.
Speaker 2 (04:26):
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.
Speaker 1 (04:33):
And it would appear that the bigger winner is MC beauty.
Speaker 2 (04:36):
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.
Speaker 1 (04:46):
When swipe fatigue kicks in, Tinder turns to AI.
Speaker 2 (04:49):
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.
Speaker 3 (05:08):
Over the past few years, Tinder has seen its active
users continue to decline.
Speaker 2 (05:12):
And why is that? Be man less singletons in the world.
Speaker 3 (05:15):
Quite the opposite, juzzy boy. There are still many singletons,
but many single people have grown tired of online dating.
Speaker 2 (05:21):
So now Tinder's rolled out a new AI feature. It
will supposedly help improve the quality of matches.
Speaker 3 (05:27):
Basically, instead of swiping, you can use a trusty AI
matchmaker to find matches for you.
Speaker 2 (05:32):
But be man, Let's be honest. Tinder's business model is
probably one of the trickiest challenges that they're facing right now.
Speaker 1 (05:37):
So true, so what is the key learning here?
Speaker 2 (05:39):
It's tricky to build a business when your success means
your customer's failure juzuwait.
Speaker 1 (05:43):
Tinder's business model is built on a paradox.
Speaker 2 (05:47):
People pay for premium features to increase their chances of
finding a.
Speaker 3 (05:50):
Match, but if they succeed, these people no longer need
the app and they stop paying.
Speaker 2 (05:54):
On the flip side, if they don't find a match
and grow frustrated with online dating, they also leave and
stop paying.
Speaker 1 (06:00):
It's a tricky balancing act for old Tinder.
Speaker 3 (06:02):
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.
Speaker 2 (06:13):
In fact, their users dropped by ten percent in October
last year and nine percent in November and December.
Speaker 3 (06:18):
So Tinder is hoping its AI powered matching could help
this balance by making the dating process feel more achievable.
Speaker 2 (06:24):
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.
Speaker 1 (06:42):
Thanks for listening, and we'll see you on Wednesday.
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