One million cows collared by Halter

0:00Time to talk business thanks to our partners, Forsyth Barth. The Reserve Bank has stopped short of warning businesses against pushing up their prices, but they are watching them, Garth Bray host of your now businesses, when that's this morning, Garth, good morning. Good morning, right? They're on a little bit of a watch. A wee bit of a watch. No, I think they're looking very, very carefully because they can see a really interesting listening to Unabremen talk about this yesterday. I guess putting out, laying out a stall, doing a lot of things at once, reaffirming that they're not going to necessarily hike or cut some criticism from some that maybe she could have calmed the farm and calmed the market a little bit more there, but the central message was taking off any prospect of hikes at the next meeting in April, so I think the market responded to that. Still prospects of some cuts, sorry, hikes rather later this year. But really saying, look, the immediate problem of, you know, I don't know, 91 rising by a dollar a litre in the last little while, I think it's about 85 cents so far, isn't the problem. The problem is when you start to see groceries, plumbing supplies, the second wave. The second wave, right? Coming through,

1:03and really that could take six, nine months to show up, and they are really looking at an 18 to 24 month medium term picture, because that's the effect of, oh, yeah, that's how the effect of time where it changes to interest rates really actually bite and bedding. So I'm really trying to say, let's keep an eye on that wage-price spiral. I asked her, you know, are you warning businesses not to push prices up? She's pretty good. No, I'm not, she's watching. Watching, just watching, but, you know, with a big stick waiting there. Hey, what's Revolute? Very interesting you mentioned this. So Revolute's in NeoBank based in the UK, and if you think about how banking is one of those sectors that's, you know, been subject to a lot of attention about competition and so on, they're looking at spending $120 million in New Zealand over the next five years on their local arm to bring in services there, little piece details in business disc from Andy Macdonald today explaining all of this, they really see an opportunity now that they've got UK bank registration and they're tracing bank registration here to be able to get in, offer people transaction accounts first, but then possibly consumer credit, insurance, all the other things that banks do, but obviously just on

2:08a platform probably on your phone, lot lower costs than some of those legacy IT systems that banks run, and, you know, they're doing pretty well online, like an online bank like that. Yeah, foreign exchange trading, you know, whether you're trading or whether you're settling things for your business or whatever, but they, I mean, in their group pre-tax profit in the UK was up 57% in nearly four billion New Zealand, so they're not short of a dollar themselves, and I guess they're just really trying to press for that registration here to be able to offer it, start offering some of those services. Very good. And finally, this one in Holter, they've had a, is this another capital race? Yeah, Series E, which is sort of getting pretty close. We'd actually talk IPO when I had great picket on just before and here we'll be our business, but because they'd always like to be cautious about that kind of thing, but they are now valued at $3.43 billion New Zealand dollars, which is a staggering sum for a company that they say now they've hit a million collars, a million of their cow collars distributed worldwide. I think when they did the series E-rays, sorry, Series D-rays, they were at about half a million, so quite a lot of growth there,

3:10obviously, they're pretty cautious about what sort of money they're making out of that, but they put that figure of numbers of collars out in the market. And Peter Teal, who people might know, if they follow these things, from the Founders Fund, he's obviously was an early stage investor in PayPal, Facebook, Palantir. He's apparently grabbed a piece of this along with Icehouse Ventures, and Blackbird, the Aussies, and Bessemer, ubiquity, new view, some other big VCs that are always quite present in these things when they do a race. Pretty interesting, they're going to press into Ireland, the UK, Europe, and South America now. They're already in the States and Australia. Right, very good, Gough, thank you. That is held now host Gough Bray, thanks to our partners for Safe Bar. We talk business every day, thanks to them.