Here’s what you need to know today

• David Crisafulli will become the 41st Premier of Queensland after the Liberal-National Party secured the 47 seats required to form government after Saturday’s election. Key takeaways with about a dozen seats still being counted: the Katter Australia Party have 3 seats but will not hold the balance of power as some predicted and the Greens did not win a seat, proving unable to back-up their strong showing in Queensland in the 2022 Federal Election. (ABC)
  
  

• Conflict in the Middle-East continues to escalate, with Israel’s first open attack on Iran in a pre-dawn airstrike on Saturday. The attack was in response to Iran’s missile attack on Israel earlier this month. Analysts believe Israel’s choice of targets (avoiding nuclear or oil sites) was designed to avoid further escalation, however, this tit-for-tat escalation is only bringing these two countries closer to war. (9 News)
  
  

• This week all eyes will be on Australian inflation as experts expect the latest data to show it back within the 2-3% target range. On Wednesday, the ABS will release the data with expectations it will be the first time inflation has been within the 2-3% target since March 2020. However, don’t expect interest rate cuts to follow, with the RBA wanting to see inflation sustainably in the 2-3% range before it starts cutting. (AFR)
  
  

• Iron ore giants BHP and Vale agreed to pay US$29.9 billion in reparations to Brazil for their role in a 2015 dam collapse that killed 19 people and turned into one of the country’s worst environmental disasters after toxic waste spilled into a nearby river. (Reuters)
  
  

• US consumer sentiment has reached its highest level in 6 months. The University of Michigan’s consumer confidence index rose to 70.5 in October, up from 70.1 in September. A strong job market and a double interest rate cut in September are likely to thank. (MarketWatch)
  
  

• Another sign that the US consumer is holding up okay (or at least just excited about the double-interest rate cut in September), US new-home sales hit their highest level in a year. (Quartz)

What the…?

One of our generation’s most famous business stories was Blockbuster missing the Netflix opportunity. In 2000, Blockbuster could’ve bought the DVD-by-mail company for $50 million. It laughed them out of the room and just ten years later the DVD-rental giant was filing for bankruptcy. Today, Netflix is worth $300 billion.

Here’s another story that will go down in investing folklore. In 2005, Intel’s CEO had negotiated a deal to buy Nvidia for $20 billion. The board rejected the deal. Almost 20 years later, Intel’s share price is down 17%. Nvidia’s share price is up 62,000% and is today worth $3.5 trillion. (Quartz)

Investing is a lifelong journey

Here’s what you can learn today.

Want to Understand the U.S. Economy? Watch ‘Shark Tank’

Shark Tank is a cultural phenomenon. The American TV show where business owners and aspiring entrepreneurs pitch wealthy investors is based on the British show Dragons’ Den, which is itself a remake of the Japanese show Tigers of Money. Whatever the animal, one thing unites all of these formats - they have introduced millions of viewers to the world of entrepreneurship and inspired many of them to give something a crack themselves.

But they do not just give their viewers a window into the world of entrepreneurship. The New York Times have put together this interactive article that shows how Shark Tank’s changes over its 15 years on air offer a window into the broader economy and how it has changed over that time as well.

The show started in 2009, in the depths of the Great Recession and was filled with hard-luck stories as small business owners overcame the odds. Then as optimism returned and the peer-to-peer platforms of the early 2010’s emerged, so did they start appearing on the show. The business trends of the past 15 years: eCommerce, direct-to-consumer brands, capitalism with a conscious, accessible beauty products, they all emerge in ‘the tank’ as they emerge in the broader economy as well.

So while it is an entertainment product first, keep an eye on these business shows. They might offer an insight into what trends are emerging and where the economy could go next.

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