Woolies rolled out 'Scan&Go', allowing you to scan groceries on your phone and check out without a checkout. More unbundling of the shopping experience: checkouts -> self serve checkouts -> scan&go. One caveat: you must be a Woolworths Rewards member (it's a data play). Woolies' market basket data is insanely valuable, and their 50% ($200m) stake in data analytics company, Quantium, means they can turn their insights -> action

Aside: Woolies' rewards program even has a pretty decent review from the OAIC on how they manage and analyse personal data (especially re: consent). OAIC's Woolworths Loyalty program assessment here

Woolies also dropped their vice businesses (pubs, pokies)

Westpac, ANZ & CBA are building a blockchain-based platform for bank guarantees, forming a new company with Scentre and IBM

Heads up: It’s tax time, and the ATO is going to be examining those sweet gains you made on BTC / crypto


Neobank 'Xinja' released their product roadmap

Afterpay’s share price plunged earlier in the week, as VISA announced their move into the BNPL space (it has since recovered). Afterpay also underwent a restructure, with Anthony Eisen stepping down as Exec Chairman & Nick Molnar moving to a Chief Revenue Officer role

Raiz increased (raized?) their fees for anyone with under $10k in their account, jumping from $15 p.a. to $30 p.a. The fee hike will assist with improving the Raiz technology without needing an additional capital raise. This seems a little pricey 

Open Banking may be delayed til after Feb 2020, with the Labour Govt unlikely to pass the Consumer Data Right bill due to privacy concerns


iOS13 is going to use ARKit to make it seem like people on FaceTime are actually looking into the camera. ARKit is the window to the soul

Uber Eats launched ‘Dine In’, in a move to compete with the OpenTables and Dimmis of the world

Google’s robots.txt is now open source


Meditation app ‘Calm’ raised $27m to get Matthew McConaughey to talk you to sleep. Sounds… alright, alright, alright

A viral blog post criticised email client ‘Superhuman’ for spying on its users. Reason: Superhuman embedded tracking pixels inside of its email client, noting when and where the email was opened. Response: Superhuman turned it off, and CEO Rahul Vohra wrote an in depth blog post about removing it. More on Superhuman (‘the fastest email experience ever made) here 

Revolut is now going to let you round up your payments to go toward charities


Great read: Sharing economy’s next wave in new world. A great insight into the history of the sharing economy

The US Senate passed a cybersecurity bill to reduce electric grid digitisation & move toward manual control. Reverse automation?

Iranian power consumption jumped 7% due to BTC mining

Long read: The Hotel Hackers Are Hiding in the Remote Control Curtains. Tl;dr Don’t use hotel wifi

Answers at the end of the email

(a) "CALL JESUS OK MAN" is an anagram of which celebrity?

(b) What are the 6 most populous countries in Asia after India and China?

(c) Can you name three Shakespeare plays beginning with “The”? (there's 8 all up)

(d) What do these football world cups have in common - '58, '62, '70, '94, '02?

(e) What has more employees in Australia - Woolworths, Coles or the Catholic Church?


HEAPS of interesting news this week, this is the longest edition in a while. Hope you enjoyed it.

Have a great weekend!

All the best

Reinventure Jobs
Open roles within the Reinventure portfolio. Maybe time for a change to FinTech?

DiviPay Jobs
DiviPay is an awesome up and coming corporate card & expense management platform. Co-founder Dan has been a long time reader / fan of the Loop! Check out the link for some of the roles they are looking for as they scale up.

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Trivia Answers 

(a) Samuel L Jackson

(b) Bangladesh, Phillipines, Pakistan, Japan, Vietnam, Indonesia. Okay, so Russia as an answer is contentious. Technically ~75% of the Russian popn lives in Europe, however ~75% of Russia's territory is in Asia. Read more about this contention here (warning: Rabbit hole)

(c) The Tempest, The Gentlemen of Verona, The Taming of the Shrew, The Comedy of Errors, The Winter’s Tale, The Two Noble Kinsmen, The Merry Wives of Windsor & The Merchant of Venice

(d) Brazil won

(e) Catholic Church

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