Okay, so today we're gonna like really get into it with this whole ACCC thing. We're doing a deep dive on it today because you know, right? We had a listener write in and be like, "Yeah, what is up with the ACC?" Totally. I don't get it. And makes sense. Honestly, me too. Like I knew a little bit about it, but I didn't really get it. Okay. So, I think it'll be cool to really dig in. For sure. So, what is the ACCC actually like? I think the best way to think about it is they're like the referees of Australian business. They basically make sure that everybody is playing by the rules. Okay? You know what rules? The rules are set out in this really important piece of legislation called the Competition and Consumer Act of 2010. Okay. And that act is like the rule book for fair trading in Australia. Okay. So that's that's interesting. So they because you said like a referee make sure that everybody's playing fair. So I immediately think of like you know stores but in this case Yeah. But it's like Yeah. It's the business world. It's the market. There are the rules just like So the rules are don't be a jerk. Yeah. Well, there's a little bit more to it than that, but essentially the goal is to prevent businesses from engaging in anti-competitive or unfair practices that could harm consumers or other businesses. Okay. Can you give me an example of what like a real life Yeah. anti-competitive or unfair practice would be? Let's talk about Google. Okay. I know everybody's probably heard about this one. That's what I was thinking. Yeah. You know, a couple of years ago, yeah, the ACCC actually fined Google a hefty sum. Yeah. For misleading Australian consumers about the collection of their location data. Right. That was a big deal. This is a prime example of how the ACCCC steps in to protect consumer rights. Okay. So like in that specific case, Google was collecting location data even when users had specifically turned off location history in their settings. Oh, sneaky sneaky. So then the ACCC and so the ACCCC came in and said, "Nope, not cool. Not C Google. This is misleading conduct. You're not being transparent with your users. you're violating their privacy and that is a big no no. So did that actually change anything? Yeah. Did Google change what they were doing? Yeah. So as a result of the ACCCC's actions, okay, Google had to pay a hefty fine of course. Okay. But more importantly, they were forced to modify their data collection practices. And be more transparent with users. Oh. So they had to like about what data they were collecting. Be upfront about it. Yeah. Exactly. Cool. And that case is really important because it set a precedent. Yeah. It sent a message to other companies that they can't mess around with consumer data, right? You got to play by the rules. So this isn't just like a one-off thing. No, no, no. This is the ACCC is constantly monitoring the market. Okay. Investigating complaints and taking action against companies that engage in anti-competitive or unfair conduct. So they're kind of like the they are the watchd dogs watch the Australian marketplace. Australian marketplace making sure that everyone's playing fair. I like that. And that consumers are protected. And it's not just in the digital world. They're involved in all sorts of industries. Okay? You know, you think about energy, telecommunications, food production, anywhere where there's potential for anti-competitive behavior or unfair practices. So like they're busy. They are busy. They got a lot going on. They have a lot on their plate. Yeah. So, like where do you see all this going? That's a great question. In the future, I think one of the biggest challenges for the ACCC moving forward Yeah. is going to be keeping up with the rapid pace of technological advancement. Oh, absolutely. I mean, think about it. New business models are emerging all the time. The digital landscape is constantly evolving, and the ACCC has to be able to adapt to these changes and figure out how to apply existing laws. to these new situations. Can you think of like a specific example of that? Yeah, let's talk about AI. Artificial intelligence. I mean, this is a huge area of growth right now. That's massive and it presents a whole host of challenges for regulators like the ACCC, right? How do you regulate algorithms? How do you make sure that AI is being used fairly and ethically? Yeah. How do you prevent AI from being used, right, to manipulate markets or discriminate against certain consumers? These are tough questions. It's tricky. And the ACCC is going to have to grapple with them. Wow. In the years to come. Yeah. I mean, I feel like that's like a whole other It's a whole other can of worms. Absolutely. They we could do a deep dive on in the future. Definitely. So, we've learned a lot about the ACCC today. Yeah. I think we got a good overview. They're the watchd dogs. Yeah. Of the Australian marketplace. They're looking out for us. They're making sure that everybody's playing fair. Exactly. And the consumers are protected. Keeping things honest, but it's not an easy job. No, it's not. They've got a lot on their plate, especially with all this new technology. Especially with the future. Yeah. The future's coming at us fast. Coming at us fast. The digital world is changing. Everything. So, for all of you listening out there, Yeah. I want to leave you with this thought. Okay. As we move further into this digital age, Uhhuh. How do you think the ACCCC Mhm. can strike the right balance? It's a tough one. Between fostering innovation and protecting consumers. It's a tightroppe walk. It is a tight rope walk. You don't want to stifle innovation, but you also don't want to leave consumers vulnerable. Yeah. It's a delicate balance. Yeah. So, something to think about. Yeah. Something to think about as we go forward. Awesome. Thanks so much for joining me on this deep dive. It was my pleasure. I'll catch you next time. See them. Bye.