Paul Stenhouse: Australia forces streaming platforms to make Australian content and Elon Musk's trillion-dollar pay package

Saturday Morning with Jack Tame

Australia is going to force the streamers to make Australian content

It'll focus on those with more than 1 million Australian subscribers, which means Netflix, Disney+, and Amazon Prime Video will all be included.

The law will require them to spend at least 10% of their total Australian expenditure or 7.5% of their Australian revenue on new Australian drama, children's, documentary, arts, and educational programs.

The bill was not introduced earlier as the Aussies first waited out the 2024 US presidential election and later feared that its winner, Donald Trump, could counterattack with tariffs.

Elon Musk's trillion-dollar pay package

Tesla shareholders overwhelmingly approved a pay package that could make CEO Elon Musk, already the world’s richest person, the world’s first trillionaire.

His new deal has some rather lofty targets and if met would give him stock valued at a trillion dollars. These include:

• Delivering 20 million Tesla vehicles and one million robots
• Getting 10 million subscriptions to Tesla's Full Self-Driving feature
• Bringing one million self-driving Robotaxi vehicles into commercial operation
• Earning up to $400bn in core profit
• Eventually lifting Tesla's overall market value to $8.5tn, currently $1.4tn

Elon is calling this not a new chapter but a "new book" for the company, really centring around autonomous projects. Optimus is designed to be an autonomous humanoid robot performing "unsafe, repetitive or boring tasks”.

He's already worth around half a trillion dollars so even if only some of his goals are met, he's the closest human to reaching a net worth of a trillion dollars.

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