Hey, Andrew, can you introduce yourself?
I'm Andrew. I'm currently driving a car in Melbourne, Victoria.
It's quite frustrating.
Is that all? All about yourself?
Are we parking here?
I think so.
Are we going to Masons? (my fave clothing store)
You can if you like.
So now that we parked we are now walking.
We're just going to Sensory Lab, yeah?
Yes.
Okay.
Or here?
Ah no, they don't make good coffee.
Coffee snob.
Yeah, I am.
We should open a cafe in Tokyo.
Yeah possibly.
When I was in Japan, you know...
I always thought Starbucks was one of the best coffee shops,
but here in Melbourne, it's the norm that Starbucks is the worst.
Used to be a lot more popular.
Do we have a spot?
Sure, you'll find one
Hello.
Are you guys alright?
Do you have a table for two?
I don't know how good this microphone is really,
so it may not be picking anything.
Wouldn't that be a waste of effort?
Well...
See? Just over there next to the lady.
At the round table?
Do you know what you want?
Can I get a long macchiato, please?
Long macchiato.
Uh...Soy Chai.
Soy Chai
Thank you.
Welcome back.
Deconstructed.
Deconstructed what?
Coffee.
Nah, no you didn't.
Let's talk about timelines.
Timelines for Distinction III?
Before that!
Or everything.
Before that,
I have an interesting thing coming up in October.
Uh-huh?
I kinda briefly talked about this, but you know
I'm doing a tour, national tour.
National tour of Japan, yep.
Going to eight cities in Japan.
Sapporo, Hiroshima, Okinawa, Osaka, Tokyo, Sendai...
Never been to Okinawa, how is it?
No, never. Never have I. Never.
You've never been Hiroshima either.
No neither.
Great Okonomiyaki.
Oh yeah?
They make a different type of Okonomiyaki, don't they?
I went to this place where there is just an open grill like all around.
It was amazing.
Oh was it?
Yeah. Where I ran into some Australians...
Did you try Okonomiyaki in Osaka as well?
No, just Hiroshima.
So is that the very first and last Okonomiyaki you've ever tried?
In Japan Yes.
Ah, OK.
You may come over to Japan for a week and we could catch up?
I could squeeze that in.
I'm not gonna pay for your cost, but happy for you to come.
Yeah, it's difficult.
By the way, I booked a ticket already for the next month trip for 2 weeks, right?
It was only 800 bucks.
It's pretty good! Return?
Return! JAL! Direct.
And, now the exchange rate is 75 yen per dollar.
That's shocking.
It's like 60 thousand yen for a round trip ticket. It's crazy.
So I was like "Yep! Book it straight away! Do it!"
Autumn? Last year?
Years ago now. 2015 or something.
2015!? You're missing out.
Yeah, I know.
Oh my gosh, you're missing out.
Seriously.
It's been a few years.
Did you go anywhere else in the meantime?
Oh yeah.
Did you?
You mean outside of Australia?
Yep.
Oh, where did you go?
South Africa.
Oh right, I remember that.
Malaysia, Vietnam
...and Japan was the best for sure?
Yeah for the purposes of this video I would say yes.
Well...you can speak your mind.
But if you were to pick one country..?
Nah, I can't. it's like picking my favourite child.
That's a good expression. That's a really good expression.
Thank you, I thought so as well.
We don't have to go to Supernormal (the name of a restaurant), we can go somewhere else.
Let's go to Supernormal.
Do you like it?
Yeah, I do. I really like their fish saute kind of thing.
We often call it a celeb tax in Japan.
Celeb tax, that's a good way of putting it.
Like you are unconsciously paying tax by being a celeb.
How much money do you need to...uh... to not worry about having to work?
$200,000 a year.
So in terms of asset?
A few mill.
A few mill?
To never work again?
Well, to not worry about having to work, you know what I mean?
So you still keep working,
but I think to some extent you have in your mind that you are working
because you have to earn money to make a living.
Where I want to get to is...to be able to put aside some money into like an ETF or some kind of fund.
Letting it earn like 10%-15% every year.
And that's enough to pay for
(Andrew) more or less spending in a year. (ATSU )The rest of your life.
That's sort of the position I wanna get to.
So I need to kind of backcell them and then work out how much that is.
So maybe 2 million dollars or so that you need to let it happen?
I think so.
Of course, there is a risk behind it, right?
The market might crash.
Every 7 years people say that there is a global financial crisis.
I was having a chat with my friend who used to be a financial planner,
and he was like it's a risk not to make an investment.
Yep.
It's true, but you know I'm a little risk-averse,
and I haven't been able to bite the bullet. ("bite the bullet" - 思い切る「Distinction I」 掲載)
Probably not a good time to get in.
Yeah, but you know the sooner the better people say.
I'd say give it until the end of this year, and see how things are looking.
I kind of feel like this crash coming.
You think? You kinda feel like?
And it's gonna be a bad one.
It's gonna be a bad crash when it eventually happens.
Is that just your gut feeling? (gut feeling - 直感「Distinction II」掲載)
When it will happen is kind of my gut feeling.
Why it's going to bad is I think quite factual.
I think it's going to be bad
because there are no mechanisms left to fix everything that happens.
So what do you normally do to fix the crash? You print money?
Yeah, expansionary monetary policy which is not necessarily effective
and also fiscal policies taken by the government, according to my textbook.
You build stuff?
built stuff. Yeah, if there is any room for it.
Yep.
You decrease interest rates.?
Yep, which is the monetary policy right?
So all three levers are basically no longer available to anyone in the western world.
The interest rates - in Australia we are at... what, 1%?
Yeah, I think about that.
Now it's 1, it's going down to 0.75 or even further to 0.5 right?
Yep. Japan is negative?
Yep.
I think the US is 0 or negative?
No, the US is still plus.
It's got like 2.... like 2-3% now.
Basically, no...no...there's not a lot of room to move.
Apparently, the Japanese monetary policy wasn't as effective as we thought.
As we... I don't know how many years ago it was,
but you know we started what we call Abenomics where we expanded the monetary base,
but it didn't really flow into the market.
Yeah, so people don't get it.
I explained to them. That's the other thing as well.
Global inflation is basically flat.
And everyone's like "Isn't that good?"
And I was like "No it's not, it means there's no growth.
No, it's not good."
We need a moderate inflation rate.
Yeah, you need a little bit of inflation like you can't have zero global inflation.
We need like 2%, right?
It seems like no matter what anyone does there's no inflation.
And they actually don't understand it.
Like normally they know why there's got to do anything about it.
It's like they literally do not get why it's happening right now.
which means like approximately probably 70-90% of people working right now are unnecessary,
because they're gonna be all replaced or transformed into the form of AI.
That's a point when people start seriously thinking about the concept of Basic Income.
When I was making a powerpoint slide for a meeting the other day,
I was like s**t, like what's the point of doing this.
There's...there's stuff that I do in excel.
I'm like I would gladly have a robot do this for me.
Gladly. Like, it's the same as getting a grad to do it, right?
Like, I don't need to be copying and pasting stuff to add value.
I can get someone else to do that.
That's fine. There's plenty of other things I can do.
I was like what's the point of making this like just for formality?
And people are like ah yeah
Just looks you've done some work
it's a custom that we make one pager....
Why do some people say one pager instead of one page?
It's uh... it becomes a noun.
But page is a noun, isn't it?
One page, two pages...
I think it makes it almost like a proper noun?
Let's just park here.
We're back to square one.
Yeah, basically.
We should be able to park in the same spot, right?
Yeah, I think so.
and it's more handy anyway.
There's a spot there.
Is this?
Yeah, that's a spot.
There you go. Go back, go back.
I just have to execute an insane reverse park.
Does every native speaker speak like that?
What?
What did you say just now?
Execute an insane reverse park
Is that your thing?
What?
It just sounds so...
Good?
Scientific.
Amazing?