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Remember Andrew Tulloch? He's the Australian founder of Thinking Machine Lab who, just 2 months ago, rejected a reported $1.5 billion, 6-year offer from Meta.
Pick & Scroll News
October 20, 2025
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Good morning. Remember Andrew Tulloch? He's the Australian founder of Thinking Machine Lab who, just 2 months ago, rejected a reported $1.5 billion, 6-year offer from Meta.
That makes last week's news a stunning reversal as Tulloch has officially left his startup to join Meta for an undisclosed fee.
Repeat, money doesn't buy happiness 3 times, and continue on with your day.
All the headlines and more below...
AUSTRALIAN NEWS
Gen Z in the firing line as employers scrutinise social media posts
26% of Gen Z job seekers in Australia were rejected for inappropriate social media posts as employers increase screening efforts. LINK
The Australian government is developing a National AI Capability Plan after meeting local tech firms and union leaders to assess investment and labour challenges. LINK
Australia’s unemployment rate rose to 4.5% in September while sparking concerns about mortgage stress and growing economic instability. LINK
More than half of Australia’s workplace deaths involve workers aged 45 and over as unsafe conditions and mental health concerns have driven a rise in compensation claims. LINK
Australia’s new super tax reform will apply higher levies to retirement balances over $3M while raising concerns about fairness, inflation indexing and policy consistency. LINK
95% of generative AI projects fail to deliver measurable ROI, fuelling Australian executive doubts about wider adoption. LINK
Australia’s housing market remains tight as nearly 2,700 auctions were held and a 73.8% clearance rate was recorded. LINK
Access to Australian banking services is declining as the number of ATMs and branches continues to shrink, raising financial inclusion concerns. LINK
GLOBAL NEWS
Welcome prediction on Aussie petrol prices
Oil prices have dropped nearly 19% for the year due to a global supply glut and trade tensions, potentially lowering Australian petrol prices within 7-10 days. LINK
Nigeria has attracted nearly US$1B in investment for AI-ready data centres as major global tech firms target the country's fast-growing digital market. LINK
China’s anti-corruption reforms have ended lavish banquets while significantly hurting Australian wine exports by removing key trade channels. LINK
COMPANY NEWS
HSBC reportedly weighing sale of Australian retail banking unit
NAB is eyeing HSBC’s retail banking operations in Australia while facing hurdles from licensing rules and commercial loan exposure. LINK
OpenAI has confirmed plans to continue investing in Australian AI projects regardless of potential copyright law reforms. LINK
Uber has launched a US pilot paying drivers for digital tasks to train AI models whilst expanding its automation-related services. LINK
CommSec posted a 35% rise in annual profits to $155.7M as over 40% of Australian retail investors used its platform during volatile global trade conditions. LINK
Nintendo plans to produce up to 25M units of its new Switch 2 console by March 2026 as it targets a record-setting launch during strong global gaming demand. LINK
Samsung will debut a trifold smartphone with 2 hinges at the APEC summit in South Korea, showcasing advanced Korean tech during a major global event. LINK
Southern Cross Austereo will proceed with a merger with Seven West Media without a shareholder vote due to ASX exemptions for listed acquisitions. LINK
Aurora Healthcare, spun off from Healthe Care and placed on the market, has been split into rehabilitation and mental health units for sale. LINK
Bapcor entered a trading halt ahead of its earnings and trading update announcement as it prepares FY24 financial disclosures. LINK
Salesforce projected US$60B in revenue by 2030 and announced a US$7B stock buyback whilst reporting strong customer interest in AI integration. LINK
OpenAI may spend over $1.5T on computing infrastructure as it strengthens financial links with Big Tech to push AI goals. LINK
Macquarie sold Aligned Data Centres for $61B to a tech consortium including Nvidia and Microsoft as demand for AI infrastructure continues to grow. LINK
The Australian reversed its decision to follow new Pentagon media rules as backlash from global outlets raised press freedom concerns. LINK
ONE MORE SCROLL
Editor’s Pick: FIFA announces over 1 million tickets sold for 2026 World Cup in North America.
Draft Pick: Once in a lifetime performance as Shohei Ohtani hits 3 home runs and strikes out 10 to send Dodgers into the World Series.
Odd Pick: A beauty pageant for buffaloes in Thailand raises status of the humble animal.
TOGETHER WITH
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BRAINTEASER
This was one of the final questions from the show 'The 1% Club' meaning only 1% of people got this question correct inside 30 seconds. Your time starts now...
Carlotta wants her mother to count from 1 to 100 but she is afraid of the digits 3 and 6. So her mum needs to skip any numbers that contain them. How many numbers will her mother end up saying?
Answer below
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