Here’s what you need to know today

• Meta has started removing Australian teenagers from Instagram and Facebook. The social media company has commenced the cull of over half a million accounts ahead of the Federal Government’s under 16 social media ban deadline. The ban, officially starting on 10 December, is a world first and has gained support across the globe with Malaysia announcing it would follow suit. (The Guardian)

  
  

• $1.13 billion Tasmanian stadium set to pass parliament. Key independents declared on Tuesday they would support the project. The proposed stadium on Hobart’s waterfront has received scrutiny due to it’s high price tag. The stadium was a prerequisite for Tasmania getting the 19th AFL team, the Tasmanian Devils. (ABC)
  
  

• Government refuses to discuss ban on gambling ads. Communication Minister Anika Wells refused to answer questions about a long-awaited ban on gambling ads when asked at the National Press Club. This comes as a recent study found the government’s ban on credit cards for sports betting had a minimal impact on the rates of problem gambling. (The Guardian | Sky News)

  
  

• Household energy prices could fall by 5% over next five years. A report by the Australian Energy Market Commission (AEMC) said a wave of renewable energy projects could lower ‘unit’ power charges to 2030. This comes as renewable energy has surpassed fossil fuels in monthly energy generation in Australia for the first time ever. The price fall will be welcome news for the 70% of renters surveyed by Energy Consumers Australia who avoid heating and cooling their homes to save money. (ABC | ABC)

  
  

• Victoria to cut 1,000 public service jobs. Announced by Victorian Treasurer Jaclyn Symes, the state government hopes to save $4 billion by also cutting 29 public entities and reduce expenditure on consultants. The Victorian government debt is projected to hit $194 billion by 2028-29. (AFR)

  
  

• Australia to increase financial support for Ukraine. The federal government will send $95 million more to Ukraine for military assistance. Further sanctions will also be imposed on Russian ships believed to be apart of their ‘shadow fleet’ used to avoid international sanctions. This brings the total support sent since the war begun to $1.7 billion. (SBS)

  
  

• European Union proposes use of $160 billion Russian frozen assets to assist Ukraine. The Russian assets would not be given to Ukraine, instead they would be used as collateral for a loan for the country. However Belgium, which is the holds the majority of these frozen assets has raised concerns over the plan’s legality. (ABC)

  
  

• Chinese reusable rocket company with SpaceX in sight. LandSpace, a private Chinese space firm has failed in it’s attempt to become the third private company to land a reusable rocket. Following Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin, the LandSpace rocket successfully launched into orbit but wasn’t able to complete a recovery touchdown in northwestern China on Tuesday.

• Donald Trump Jr-backed startup secures $600m loan from US government. A company back by the President’s son, Vulcan Elements, has just landed the largest loan in the history of the Pentagon’s Office of Strategic Capital. The funding will be used to increase the military’s supply of magnets. (FT)

  
  

• The debate continues: Are we in an AI bubble? Microsoft shares dropped 3% after reports emerged it had lowered sales target for AI software sales. Meanwhile Oracle, one of the largest AI beneficiaries, saw insurance on its debt hit its highest level since 2009. (Reuters | Yahoo Finance)

What the…?

Whilst many of us would have woken up on Wednesday morning either delighted or slightly embarrassed with our 2025 Spotify wrapped, YouTube is also getting in on the Wrapped party. The video content platform dropped their debut Wrapped for users in North America on Tuesday and have flagged that it will be available for users around the world at some point this week.

Spotify Wrapped has become a global phenomenon for the Swedish audio streaming company, launching back in 2016 and allowing users to view a compilation of their listening data and share it with their friends. Spotify have estimated that this years Wrapped will reach 700 million people around the globe.

We’re hoping there might also be a few Equity Mates videos floating around your inaugural 2025 YouTube Wrapped. (YouTube, Spotify)

Investing is a lifelong journey

Here’s what you can learn today

The market always wins

This was an exert in our recent interview with Andrew Mitchel from Ophir in our Best of the Best series. Listen to the Equity Mates Investing episode titled ‘Best of the Best: Good investing starts with a great process - Andrew Mitchell | Ophir’ (Apple | Spotify | YouTube)

Ren: As we were preparing for this interview, we saw on the Rules of Investing podcast, you said quote, the market always wins. I'd love you to unpack what you were talking about there and then talk to how that informs your investment philosophy.

Andrew: The market doesn't go up in a straight line and we see with just our investors, despite the performance, and I think we've done 24% per annum for 13 years, it doesn't matter. Every time there's a pullback, someone wants to pull money out and they think it's the end of the world and this is it, COVID classic example, and the market always wins. We get through this. I think Warren Buffet has a great quote “the US always wins and that sort of goes to global.” So if the market always wins and the US always wins, well you want to be in the US. So that's sort of I guess what we're saying and what really determines a share price over the medium to long term is the earnings of that company over the short term. It's all about sentiment, like what we've seen in recent times, but in the medium to longer term it's earnings and that's why the earnings of the markets always going up. Companies are always new, companies are coming, making more money and then the market always wins.

Ren: So just keep investing?

Andrew: Don't do what people do and sell at the bottom because it comes back.

A message from Pocketsmith

Feeling like your money just disappears?

Take control of your finances with PocketSmith and see exactly where your money flows. With powerful budgeting tools, real-time insights, and detailed reports, you'll never be left wondering where your hard-earned cash went.

• Track income and expenses with ease

• Visualise your spending in a way that makes sense

• Plan ahead for bills, groceries, and savings

• Make confident money decisions

Right now, get 50% off the first 2 months of a Foundation Plan and start mastering your budget today. Try PocketSmith now at pocketsmith.com/equitymates

Want more Equity Mates?