Hi! This is A Minute Of Overpass. My name is Eric and I make apps. Now this week
we're really informal.
I just want to talk a little bit about how a few hours into Brexit. How I
think it's going to affect us app developers.
Okay, so if you follow me on Snapchat
I told everybody a few hours ago that I probably wouldn't do a video this
week because, there's so much going on with Brexit and everything like that, so
I told everybody I wasn't gonna do it and I thought well I'll do a quick one
I'll do an info for this one.
So there's no green screen, we're just going to do it just have a quick chat about
about exchange rates and how Brexit is going to affect me as an app
developer being in the UK.
So first of all just give some background we're only a few hours into
this. It was only announced this morning like it
I think six o'clock this morning or something that the EU was leaving,
David Cameron resigned at 8am. Right now it's a quarter to four o'clock in the
afternoon, so we haven't really seen very much of what's going on. There's lots of
uncertainty.
However, what I have seen is that the pound has really fallen. So if I
show you here on my screen, here is the the GBP versus the US dollar for up
until last night, so you can see
last night or just being when they found out that the "leave" was going to win, the GBP
fell down to the lowest point it did in 31 years.
So and this is something I've been looking at, not just because of this
but I have been as an app developer, we try to keep control of all the different
streams you have come in. Most of the time it's in US dollars so you have to
convert it to your local currency and that FX range rate changes a lot, so I
was actually using an FX rate from like 3 years ago which is way out of date
and only like 2 years ago started ,you know, changed all my reports to use the
new one but like everything's changed now.
So how does this affect me? Now, the first thing I noticed was... here's my AdMob. Now
yesterday, again if you follow me on Snapchat, I tell you every day what my
AdMob results are, and you know it's... it may be high for you and maybe
low for you. For me it's about average. All of last year was about a hundred
twenty pounds per day but you know for last
ever since January this year we've had it around
just at the 100 mark. So some date on good days is over a hundred on
bad days is below a hundred and already this morning I can see that
we have a really high, it's above a hundred by a few pounds, but at this
time of day,
let me just refresh the screen, you can see that I'm already at 45 pounds, it's
nine four o'clock yet so I expect that because I'm being paid in dollars and
gets converted into the pounds that will look a lot higher for me.
Now this will have a big knock-on effect of me when I hired by developers because
all the developers I hire are overseas, so that means I'm gonna be
paying more for developers, but earning more as things come in. Now the downside
of it is...because nobody really knows what's gonna happen but the
downside of it is that you know milks going to start costing more and
transportation is gonna start costing more, petrol is going to go up
because the pound is low, so hopefully that bounces back soon, but it's the kind
of thing you have to think about all the time.
Now if you go to the Google Play Developer page, you know how you have to
set the prices for each location, hopefully you do that and you know so
it's like say 2 years ago
if you're like me like 2 years ago, you set the base currency and just
say
auto calculate the rest, then you should probably do that every so often.
That's something that I haven't even thought about up until just this week
that the currency exchange all over the place and a currency can be devalued in
one location but because Google Play has it like static you probably should go in
there and just like yeah
play with those figures a little bit every so often. The nice thing about
iTunes of course is you have those bands, you have band 1, band 2, band 3 and stuff
like that so.
So that's all I want to talk about today. It'll be really interesting in the next
coming weeks to find out how this is all going to really affect me.
Just to let you know, I didn't vote. I didn't have a view one way or the other.
It was really kind of interesting the way that it turned out. I'm
still an American citizen so I'm just living in the UK so, but you know, it
affects me because it affects taxes and all that kind of stuff so, but you know
I'll keep you posted if you follow me on Snapchat.
You know, we could talk or discuss it a bit more, a bit more as we go, but that's it
this week. Very informal, very non-technical but that's it. I'll talk to
you next week.
Hey I really hope you liked that video. Now I do this once a week so if
you want to hear more or you want to hear more
about our experiences with the App Store either Google Play or iTunes,
please go ahead and subscribe to the channel and please like this video and
leave a comment. I love reading the comments. I love hearing what you have to
say even if it's just Hello or whatever, and like I say before, if
you're not sure what to say in a comment, like I never know what to say in
a comment. I'll make it easier for you, like if you like it just go ahead and
say "Gnarly" which is an 80's term or if you didn't like it just say "Bogus" and
and if you don't think any of it just say "Eh" , right? so that would
be a big big big help, and another thing you could do, which I'd really
appreciate it. If you're on the app store and you want to try one of our apps. Look
up some of the Overpass apps. Applications either on iTunes or Google
Play and leave a review and let us know what you think about it, either good
or bad, but you know we're all trying to build up in the market
so that would be a big help. So that's it. I'll talk to you next week!