Off to the races | The West Report

Рет қаралды 6,231

Ай бұрын

What the heck is these politicians doing punting outsiders when there are professional punters around like the Future Fund? And what's the point of that $240B pile of money anyway?
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Пікірлер: 105

@ElectricCarAustralia 27 күн бұрын

Ohhh I wish we had an evening daily mini news broadcast from MWM. We need genuine independent coverage of the daily news from a credible organisation. Would be happy to increase $ support to see this come to life.

@Sarsaparilla420 29 күн бұрын

It's not much, but in recognition of "World Press Freedom Day", I wanted to express my gratitude for what you do for us, Westy and team. 💕

@MichaelWestMedia 29 күн бұрын

Thank you so much!

@mandyspacek1087 29 күн бұрын

This is why people go into politics these days, to milk as much as humanly possible from the poor old tax paying serfs. Needs to change

@robertsykes6309 27 күн бұрын

And then they f@ck off and live overseas.

@laurencetilley9194 29 күн бұрын

Labor doesn't want another term in government, that is blatantly obvious.

@htbuckley 29 күн бұрын

I'm shocked... a billion! What about helping Bonza, an Australian airline servicing the country towns... !!! Nothing for the people, money 4 the war in Ukraine , money 4 Atomic subs, nothing for the regions air connections.

@letsseeif 27 күн бұрын

Well. Sydney interests ensured that Ansett collapsed and previously TAA. Both Melbourne based. I'd like Bonza to survive. But it was not Sydney based. If it was, I think it would have been saved.

@bluedunn374 29 күн бұрын

Now look at which politicians bought shares prior.

@lesliedevlin8501 25 күн бұрын

Yes but is that in side trading omg Les from Perth

@darthex0 29 күн бұрын

Startup scammers

@The8224sm 29 күн бұрын

Why can't they supply funding for the computer techies at the CSIRO?

@denicebizz7342 28 күн бұрын

we don't want more computer teckies?; for what?; how to blow up the world better and quicker?; they've thrown at us the AI curve ball's already, Quantum is in action 🎬 and we're being banned from speaking and having money? at this stage, I'm living for the day, the moments ✨️ 🙌 and trying to just get through that safely 🙏 the rest is everyone else's future 🙏🫶🙌

@lancejohnson8388 29 күн бұрын

Happy world press freedom day! Please keep up the hard work you all do at MWM. Hope this small contribution helps.

@BromellFilmCorp 29 күн бұрын

Nice to see that Michael West is the New ABC

@sonjakozman1699 27 күн бұрын

Abc is absolute garbage, let's not place Michael next to that.

@BromellFilmCorp 27 күн бұрын

@@sonjakozman1699 Michael West shills the Greens as a legitimate party and alternative harder than the ABC. Let's not pretend he isn't trying to wedge the Greens against Labour

@BromellFilmCorp 26 күн бұрын

@@sonjakozman1699 Michael West loves trying to wedge the Greens against Labour ignoring the fact that in practice the Greens act against the National Interest and with the Liberals. He acts exactly like ABC Journalists.

@ThisFinalHandle 29 күн бұрын

They're going to F#@K it up.

@RB-yq7qv 29 күн бұрын

What a joke there goes our money into these shame jokes

@sonjakozman1699 27 күн бұрын

How about the billion that went to Ukraine, that was our money

@supernintendochalmers646 29 күн бұрын

Albo and Jimbo: "Hmmm, 'Quantum' of solace..damn good movie...here's a billion dollars!"💸

@Camptonweat 28 күн бұрын

That's the price to bring in the technology and the talent. We could have let them do their stuff in the US/UK/Europe, I personally think it is a good thing we are incentivising smart Aussies to ply their trade here rather than overseas.

@stanstreatfield3485 29 күн бұрын

Michael is great , but this idea of leaving it to the professional investors is not my preference. These are the same professionals who brought us the global financial crisis and countless other financial meltdowns not to mention the destruction of the environment. And the head of the future fund is or was Peter Costello, ....independent ? give me a break. I'm not supporting the labour govt. but political parties do employ experts and have qualified people in their ranks who are no better or worse than the so called experts in the financial sectors.

@NathanCroucher 29 күн бұрын

The GFC didnt affect them though, they made off like bandits. So really for them, they chose the best people 😕

@hifigeek009 29 күн бұрын

Thanks!

@nerdy_dav 29 күн бұрын

Right wing Labor does same right wing things as LNP ... what a shock.

@sonjakozman1699 27 күн бұрын

Same donors mate; nothing shocking here. It's all for blackrock and vanguard, those who have stakes in almost every asx200

@nerdy_dav 27 күн бұрын

@@sonjakozman1699 I know. It is sad. Marx was right when he predicted that capitalism would trend to its current state. Labor lost it in the 80's when they crippled the Unions and turned them into spineless profit and bureaucracy machines. People need to get together and understand class consciousness. It is our only way forward, lest we f*&k the world up beyond recognition.

@nerdy_dav 27 күн бұрын

@@sonjakozman1699 I've made a response to this. But YT/Google doesn't appear to like it. Summary... I know. It is a problem with Capitalism. It will always trend to monopoly.

@archerten 27 күн бұрын

Thanks Michael, truth is stranger than fiction, not sure whether to laugh or cry. Certainly looking forward to all the benefits of quantum computing combined with AI and robotics - not. Techno-feudalism is upon us now!

@danielweir81 29 күн бұрын

Obviously they aren't telling anyone they have been ordered to repay all birth bonds.

@ETALAL 29 күн бұрын

Birth Bonds ? What exactly do you mean by that ?

@danielweir81 29 күн бұрын

@@ETALAL the bond created of birth certificates that are rightfully your at coming of age you are not taught how to claim they have insured for more than your worth that makes your death very profitable.

@ETALAL 28 күн бұрын

@@danielweir81 thx You mean "if you die intestate". 😉

@danielweir81 28 күн бұрын

@@ETALAL no

@ETALAL 28 күн бұрын

@@danielweir81 OK I currently use that insurance to extinguish debt,

@robertbarnier45 Ай бұрын

Thanks Michael. I get very disappointed in Labor

@HGCUPCAKES 29 күн бұрын

Good to see you’re waking up to the propaganda machine.

@nerdy_dav 29 күн бұрын

LNP are no better if a bit worse.

@robertbarnier45 29 күн бұрын

@@nerdy_dav much worse

@nerdy_dav 28 күн бұрын

@@robertbarnier45 "much worse" --- Sort of. They are a lot more incompetent and certainly more corrupt. But at the core of their policy is maintaining the flawed and exploitative capitalist system. In that respect, the thing that affects our lives the most. They are pretty much the same for the most part, they just have a different way of going about it. This is why both LNP, and Labor are from the same side of the same coin. Greens are a bit better, they still maintain the system but aim to temper it, (Although they won't likely be successful).

@robertbarnier45 28 күн бұрын

@@nerdy_dav Labor is streets ahead of the Conservatives. I would never consider them. They’re useless unless your Gina Reinhardt

@davidreynolds3919 29 күн бұрын

Lol. The creepy background music. That has to be a first. Excellent work as usual. Perhaps play All you need is love in the background, lol .

@Inflammasomes 29 күн бұрын

Has the future fund really done that well? It has returned similarly to a simple Aus shares index fund if not less. Investing in the S&P 500 would have delivered significantly higher returns and have had much lower fees if it was just an index fund, Vanguards “VTS” only charges 0.03% PA fees. Still seems like a rort to me. And before anyone says that it needs to invest in less risky assets, if the goals is now to just build wealth like a sovereign wealth fund, surely the government has the time to handle the volatility of the market and ride out market down turns.

@user-sm8j 29 күн бұрын

All a sham

@NathanCroucher 29 күн бұрын

Its only money, plenty around if its needed.

@eddieo1926 29 күн бұрын

But just how independent will "independent" bodies remain not if but when the Coal-iltion get back in. They can still stack the body just like they did the AAT and other "independent" bobies.

@jobubbled 28 күн бұрын

Is the Future Fund independent with Costello in charge??

@currawong2011 27 күн бұрын

I continue to await your reporting of a good government decision story. A billion on a maybe, or a maybe not....

@NathanCroucher 29 күн бұрын

Future fund.... Id say its more a future war chest, couple things both major party's or those in power need is security or more power.

@simonboland 29 күн бұрын

Completely agree with you here. I'm astounded by a few things. Firstly, governments should be not trying to do the role of venture capitalists. Maybe if there were an argument for creating a NASA like body for quantum computing then it would make sense. But that's not what they're doing. Secondly, the amount is staggering in order to create 400 jobs in Brisbane. Meanwhile Tritium couldn't survive with 4000 employees and a manufacturing plant in Brisbane.

@Camptonweat 28 күн бұрын

Would it reassure you if venture capitalists had already sunk $1 billion into the company?

@simonboland 27 күн бұрын

I don’t understand your point. I don’t think VC’s would not put 1 billion into the company on a quick whim without scrutiny. It depends what stage it’s at. PSI quantum was founded in 2016 and raised 700 million according to google. My point is why would the folks in Albanese government think they’re capable of choosing an investment strategy that has more insight than VC firms? And given that there’s already quantum computing companies in Australia already.

@Camptonweat 27 күн бұрын

@@simonboland Perhaps I was too vague - my point was simply that a company that has already been endorsed by VCs to the tune of $1 billion AUD ($700 million USD?) is not such a risky bet as MW was making out. I think the government is correct in being proactive in bringing expertise and high tech industry to our shores. Waiting for VCs to wise up has not been a winning strategy over the past 30 years, at least as far as the broader economy is concerned.

@Nigel_B 28 күн бұрын

The best form of welfare is a grant

@geofftottenperthcoys9944 29 күн бұрын

Quantum computing IS the future.

@kristyjprice 29 күн бұрын

I thought it was for Australians future like the little guys getting funding for business. Making stuff here keeping Australian innovations here.

@dean19641000 29 күн бұрын

Yes, money should be for building infrastructure and what's point if yor not using it 😅😅

@desmondo7042 29 күн бұрын

Good to know, goodonya👍👍

@user-sm8j 29 күн бұрын

...and then they start donating to labor, sounds a lot like the us

@the_black_douglas9041 29 күн бұрын

Quantum computing faces several sets of different hurdles before it becomes a practicality. At the risk of stirring nationalistic rancour, the notion of a team of Australians solving the problems is just laughable.

@glenntwenty 28 күн бұрын

It's not that we haven't produced highly intelligent young people in Australia... It's just that they are given scholarships to top shelf universities, and lucrative job opportunities overseas...My Nephews and Nieces have taken advantage of such offers... Batchelor of Mathematics, Batchelor of Engineering, Batchelor of Physics etc. all paid for by USA and China that reap the rewards of Australian intellectual excellence... The opportunities just aren't here anymore...

@Camptonweat 28 күн бұрын

Aussies invented Wifi... we actually have a damn good track record developing these sorts of transformative technologies, considering the relative size of our population.

@Camptonweat 28 күн бұрын

@@glenntwenty Yes, a big motive of this $1 billion investment is to draw some of this (highly in-demand talent) back home.

@actualfacts1055 29 күн бұрын

What happened to backing Labor no matter what, this channel might actually be worth watching now.

@MichaelWestMedia 29 күн бұрын

We've never been tied to a political party?

@sonjakozman1699 27 күн бұрын

A billion here, a billion to ukraine, no worries. Then we pay more for gas and electricity than those we export to. So what are we doing guys? Going to keep putting up with it?

@Camptonweat 28 күн бұрын

Michael, I respect your insights, but have to disagree with you on this one. This company (PsiQuantum) has already received $1 billion in VC funding in the US, I see no issue with the government piggy-backing on these endorsements. The point of independent bodies is to de-risk and take the politics out of funding decisions, but when the decision is already relatively low risk and is clearly apolitical, I'm not sure what value such an independent body would have had in this circumstance (and given no such body exists, it is entirely appropriate for the government to make a call). Worth mentioning too that this funding is subject to standard governance, hitting milestones etc. so the government can pull the pin (the funding period is 5 years) if it looks like it is not working out. As I said, low risk. Personally, I think the government should be commended for being proactive here - too often our passive mindset around technology has lead to us missing out on key opportunities. Take Wifi for example... we invented it, but how much did we ultimately benefit? Hardly anything in the grand scheme of things. At least now we are finally realising the value of throwing our hat in the ring and competing with US/Europe/China. Who dares wins, right?

@jobubbled 28 күн бұрын

But it is a US company. And like Westy's other video about corporate tax, will they ever pay any tax in Australia or are our US bosses taking us for a ride again? The only benefit on the face of it is jobs for Aussies. But maybe there is some agreement that our Government can use its super computing ability ongoing?? Maybe that makes it worthwhile?

@Camptonweat 27 күн бұрын

@@jobubbled The value proposition isn't so much the tax intake, it's the use of such a company as a vehicle to bring expert scientists and engineers onshore and keeping them here. At the end of the 5 years, even if they don't build a quantum computer (I'm betting they won't), you still have thousands of people with highly advanced technical capability in things like semiconductor fabrication and cryogenics that can seed future start ups and build our high tech industrial capability. For context, Australia has generally been very good at training scientists and engineers, but not so good at retaining them because our industrial high tech sector is extremely limited (and our economy has probably suffered as a result).