00:40:14 · Adam Miller, Charlie Gearside
[00:40:14] S1: Yeah? But is that just because that's not one of our competitive advantages? We're not that great on it at manufacturing, and so it hasn't boomed here? Well, I think other countries. [00:40:22] S0: Yeah. I mean, you can make the argument that, like, Asia, the labor costs of of, like, Asia is, like, hollowed out Western manufacturing in general. Right? And we've seen that in in The US and and whatever. But I think those countries are starting from much further ahead in terms of, like, an industrial base and, like, we're about to enter this era of, like, AI and automation. And, like, the thing that kills me is you look at you look at iron ore, right, which is, like, pretty much funded this country, and you look at lithium. We supply half the world's lithium. And in terms of turning... Like, moving up the, yeah, moving up the sort of stack and turning those raw materials into more expensive materials and capturing more value there, we do none of it. So we just shit rocks overseas, whereas, like, we could smelt or steal, or we could turn lithium into batteries. Yeah. [00:41:22] S1: There's probably this big complacency that political class gets from that because when you think about tax revenue, you sort of feel like where's it set for the next thirty years because you can forecast out all the minerals that you're gonna be Yeah. Sending overseas, the tax revenue there. So it's like, you don't have to be really, like, anxious about getting tax revenue from other places. Yeah.
00:41:22 · Adam Miller, Charlie Gearside, S2
[00:41:22] S1: There's probably this big complacency that political class gets from that because when you think about tax revenue, you sort of feel like where's it set for the next thirty years because you can forecast out all the minerals that you're gonna be Yeah. Sending overseas, the tax revenue there. So it's like, you don't have to be really, like, anxious about getting tax revenue from other places. Yeah. [00:41:41] S0: Yeah. I think that's that's probably it. It's just like short term short term, hey. Things are really good and like Yeah. And I can juice this I can juice this orange, and I'll probably won't be around for the next one. And I mean, we can we can talk forever about, like, the incentives that, like, lead politicians to worry about, like, the short term over the long term Mhmm. Which I don't think we're particularly particularly good at, but... And it's like the age old... It's... I mean, companies do the same thing. Right? So it's like, yeah, we could talk forever on forever on that if you wanna get depressed. [00:42:16] S2: With with this kind of new voice of Australia and, you know, this kind of the Gearside channel, what do you think are the inputs we need or the inputs you've kind of thought about of something that can have widespread interest and kind of get broad enough to make, you know, the impact that you desire, plus also say concentrated in, like, almost elevating Australians. Like, of your first, you know, videos was around how equity works in startups and how that can be a path to wealth. Yeah.
00:42:16 · S2, Charlie Gearside
[00:42:16] S2: With with this kind of new voice of Australia and, you know, this kind of the Gearside channel, what do you think are the inputs we need or the inputs you've kind of thought about of something that can have widespread interest and kind of get broad enough to make, you know, the impact that you desire, plus also say concentrated in, like, almost elevating Australians. Like, of your first, you know, videos was around how equity works in startups and how that can be a path to wealth. Yeah. [00:42:43] S0: I think it's about, like, people... Where young people are in a position where it's like, you have to, like, look after yourself first. So this, like, self actualization is step one. Who cares about how the country's going if I can't afford a house? I can't I can't even pay rent in the suburb that I wanna live. Right? So, like, it's... The... Step one is definitely, how can I achieve some sort of wealth for myself and my family and be able, you know, be able to have a family? And then we can sort of move up... Move further up and worry about bigger and bigger [00:43:20] S2: issues. Entrepreneurship is that path to wealth? [00:43:24] S0: Yeah. So entrepreneurship or working at a company that produces value, that creates value. And so that... You know, not everyone should be an entrepreneur. Far from it. But there are so many jobs out there of companies that are actually producing value. It's like the, you know, there was that fake jobs thing a few years ago. Do you remember that in the media where it's like, a lot of people have jobs that shouldn't really exist.
00:43:24 · Charlie Gearside, S2, Adam Miller
[00:43:24] S0: Yeah. So entrepreneurship or working at a company that produces value, that creates value. And so that... You know, not everyone should be an entrepreneur. Far from it. But there are so many jobs out there of companies that are actually producing value. It's like the, you know, there was that fake jobs thing a few years ago. Do you remember that in the media where it's like, a lot of people have jobs that shouldn't really exist. [00:43:53] S2: Mhmm. [00:43:53] S0: Right? But it's almost like the next the next step of the fake jobs... Understanding whether people have fake jobs is, like, whether people have jobs that are actually, like, accretive to society. So it's like, we've got so many smart people working in finance, and they're, like, you know, like, finding ways to, like, save com... CommBank, like, couple... A 100,000,000 a year or something like that. Like, they're not actually doing things that move the needle at all, and they're getting paid well for it. How can we put those people into things that create a lot more, like, value for everyone? Oh, yeah. A lot more prosperity for everyone. So it's not just, like, young people coming through, but it's how do we redirect people from, like, ineffective sort of spaces. Mhmm. [00:44:39] S1: Yeah. Is this always gonna be a problem? Because we just touched on the best founders, like, moving to SF, there's quite a quantity of them. Like, if we want those people to go away from finance to tech, like, we're just gonna need to build more companies here. Right?
00:44:39 · Adam Miller, Charlie Gearside, S2
[00:44:39] S1: Yeah. Is this always gonna be a problem? Because we just touched on the best founders, like, moving to SF, there's quite a quantity of them. Like, if we want those people to go away from finance to tech, like, we're just gonna need to build more companies here. Right? [00:44:50] S0: Yeah. Yeah. We are. But I think we... I think, like, that's happening. A lot of people say, oh, there's... You know, I think cynical people say, oh, there's the same amount of quality companies and, like, there's a lot more, like, shitty companies. I don't I don't buy that. I think it scales pretty linearly. [00:45:06] S2: And, [00:45:08] S0: yeah. We just need to, like, increase the number of companies coming through.
00:45:14 · S2
[00:45:14] S2: Yeah. I think there's increased number of companies coming through, but there's this important gap for education around what creates avenger scalable outcome, how to actually, like, sell properly, how to do all these kinds of things. And, like, there there was a book released recently about, like, how to fundraise, which a lot of people... It's pretty one zero one, but a lot of people have got a lot of value from. And I think Harvey's booked? Yeah. And I think there's there's an education gap in the market. Like, you can say, oh, like, education is freely available or not, but, you know, I think all three of us are industry insiders, and there's things you hear in the industry inside that really help your journey. And, you know, I think Americans are more open about democratizing that knowledge quite easily. You go to any SF party, someone will help you and tell you something, and they'll introduce you to four people that could help you. And then, you know, there's this there's this openness of... Which we were really surprised about in America. You think culturally Australia would have that more Yeah. But there's not as much. There is with with insiders, but I think there's still this knowledge that's trapped inside. And then as it gets born and brought out, hopefully, we have more companies that VCs think of can produce venture scalable companies. Hopefully, we have more people that are, you know, messaging the Aesop in a right way, messaging the fact that, hey. This is actually a path to it to a to a degree of wealth. And that, you know, thirdly, that we have people that can then... When they go to US and they go to all these places, they can, you know, sell and and and kind of message in the right way.