NBR’s Simon Shepherd on three decades in journalism and what turns a start-up into a story
News from the New Zealand startup ecosystem, straight to your inbox.
Good morning Caffeinators!
Another week down and despite a few of us here being knocked down with wild winter bugs, we’re bringing you your Friday newsletter goodness.
For our Friday feature today we’re talking to one of New Zealand’s most experienced and recognisable business journalists to find out what turns a start up into a story.
And alongside your usual Daily Shot of news we’ve got our curated ‘Weekend Fuel’ list of content because there is too much good media out there for anyone to keep track of on their own.
As always, a huge thank you to all those who have donated, subscribed or just got in touch with some kind words. You are our fuel.
Finn & the Caffeine Team
NBR’s Simon Shepherd on three decades in journalism and what turns a start-up into a story.
“People aren’t buying fluff at the moment.”
After 30 years in the news, it’s safe to say former Newshub business correspondent and current NBR host Simon Shepherd knows a business story when he sees one.
Though with mounting job cuts and the complete closure of Newshub earlier this year, the news sector itself has been the subject of many grim headlines on business pages for much of 2024.
“I feel a little battle-scarred after this year, to be honest. But I’m fortunate that I’ve landed in a different iteration, and I’m really enjoying it,” Shepherd told Caffeine.
The veteran journalist, along with Mike McRoberts, moved to NBR following Newshub’s shuttering. He now hosts the bi-weekly NBR Podcast, which features a combination of interviews, discussion, and analysis.
Full disclosure: I worked with Simon on Newshub Nation and in 6pm news before moving to Caffeine. Thankfully, despite how messy my side of the desk was and how often I distracted him, he still took my call.
The half-a-million-dollar decision that still haunts the book industry: There’s a fascinating long read you might have missed from Spinoff this week which highlights the potential pitfalls of tech-focused startups tackling venerable markets like the book sector. Read more.
Warehouse reports ‘unacceptable’ loss: The Warehouse has delivered the first annual loss in its 42-year history. RNZ has a solid wrap on the company results, which include Warehouse Stationary and Noel Leeming. The Warehouse sales fell 5.3 percent to $1.8 billion, Warehouse Stationery sales fell 6.7 percent to $231.9m and Noel Leeming sales decreased 5.3 percent to $1b. Read more.
Closed AI?: The wild news out of OpenAI isn’t stopping this week, with multiple top level staff leaving the business amid a reported push to restructure the business into a ‘for profit’ entity. While the money keeps pouring in, as staff head for the exits its hard not to think back on how far OpenAI has strayed from its founding mission of creating AGI without the influence of big money and tech titans. Read more.
NZ and UAE Finalise Historic Trade Agreement, Boosting Export Opportunities and Strengthening Supply Chains: NZ and the UAE have completed a trade agreement, the fastest in NZ's history, eliminating duties on 98.5% of Kiwi exports immediately, with 99% tariff-free within three years. The deal, concluded in just over four months, enhances opportunities for NZ businesses and strengthens economic ties with the UAE, a key trading partner in the Gulf region. The agreement covers various sectors, including dairy, industrial goods, and services, and includes chapters on intellectual property, sustainable development, and indigenous trade rights. More.
Tax Traders and Taxi take top prize at 2024 Best Places to Work Awards.
In a glitzy ceremony held this week at Auckland’s Cordis Hotel, the 2024 Best Places to Work Awards celebrated Kiwi organisations that are redefining workplace excellence.
From innovative practices to inspiring leadership, this year's winners have set new standards for creating environments where employees feel valued, inspired, and engaged.
The competition was fierce, with companies across all sectors and sizes as finalists. But it was fintech companies Tax Traders and Taxi which clinched the Overall Winner award, also taking home the top spot in the Small (21-49 employees) category.
While there could only be one overall winner, Best Places to Work CEO Julie Gill says all the businesses who participated deserve recognition.
"These companies are the foundation of the Best Places to Work continuous improvement programme," she said.
"Their efforts in building better workplaces are truly inspiring. Congratulations to all finalists and, of course, to the winners. You have set the gold standard for workplace culture in New Zealand, showing what can be accomplished when organisations prioritise their people's wellbeing.”
Media isn’t easy, and over the past year, we've faced our fair share of challenges. But with readers like you, we've built something special. CAFFEINE has become a hub for startup stories, insights, and community. We've published hundreds of articles, created podcasts, and given a voice to the founders who are shaping NZ's startup scene. We believe in the power of connection and knowledge to drive startup success— and we think you do too. To keep going, we need your help.
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Here’s what’s on our radar. Hit us with your own recommendations.
Podcast: Plain English with Derek Thompson is one of my most valuable listens every week. A tech, culture and business writer for the Atlantic, Derek has an uncanny ability to explain even the most complicated subjects in a digestible fashion. He’s particularly deft at unpacking the implications of Artificial Intelligence and seeing through business political jargon and extracting what’s useful from any topic. Basically, it does what it says on the tin and I love it ~ FH.
TV Show: The Penguin continues right where Matt Reeves ‘The Batman’ left off and unlike many spinoffs from successful superhero movies, doesn’t miss a beat when stacked up against the original. Colin Farrell returns in a genuinely incredible turn as Ozwald Cob which required him to spend three hours in the makeup chair every morning. Channeling an even more neurotic Tony Soprano, this is a gangster epic which is definitely going to win all the Emmy’s next year and deservedly so.
Movie: Longlegs is a grimy, terrifying and exceptional bit of horror for fans of Silence of the Lambs and Hereditary. It also comes with an absolutely scenery-chewing performance from Nicholas Cage turning his Nicholas Cage dial up to 11 in the best way. It has stunning cinematography, sound design and a level of creeping dread that’s often hard to find in modern horror. Highly recommend watching this one with a good sound system and a big screen if you can.
Something to sip on: Manhattan
Maybe it’s because I will be staying in Manhattan in just under a month but this classic has been on my mind lately. For fans of the Negronis and Old Fashioned, this is a rich sipping cocktail that is perfect for either a big night out or a cosy night in ~ FH.
Ingredients
2 shots rye whiskey
1 shot sweet vermouth
2 dashes Angostura bitters
Garnish: Some recipes call for a brandied cherry but I think lemon twist balances the richness better
Method:
Add the rye whiskey, sweet vermouth, and bitters into a mixing glass with ice and stir.
Strain into a coupe glass.
Garnish with cherry or lemon twist as preferred.
That’s it for today, thanks for reading. Want to get in touch with a news tip, bit of feedback or just to chat? Email hello@caffeinedaily.co. Look after yourselves and each other this weekend and we’ll see you Monday.