Hey hey, Flux fam!

Here's everything you need to know today - in under 3 minutes.

Today's big stories

✈️Qantas shakes up its frequent flyer program

🏠Aussie startup OwnHome raises $31 million

🧘‍♀️Relaxation app Calm buys Ripple Health Group 

Oh and get this...

Prepare for takeoff. Sydney Airport is finally set to de-list from the ASX this week, after its shareholders finally approved a $23.6 billion takeover of the company. 

Qantas slashes frequent flyer points needed to book holiday packages so pack ya bags 🧳

Background: Qantas' Frequent Flyer program is one of Australia's most popular loyalty schemes, with 12 million members. Holy smokes!

What happened: Before COVID, the Frequent Flyer program was one of the company's most profitable divisions. But during and after...it took a massive hit. We're talking around 30% losses.

What else: Qantas have a plan to turn things around: they'll slash the amount of frequent flyer points required to book hotels by 30%-45%. So pack ya bags.

So what's the key learning?

💡When consumer behaviour changes, businesses need to update their models to maintain relevance and profits.

💡In Australia, with border restrictions changing all the time, many of us have been hesitant to leave our home towns. But Qantas is predicting a big travel boom. 

💡In order to stay relevant (and get people using up their Frequent Flyer points again), Qantas is switching up the strategy by lowering prices.

Rent-to-own startup OwnHome raises $31 million and with house prices soaring...it checks out

Background: The Australian property market is so 🔥🔥🔥 right now. Median house prices are rocketing, and the average number of years in the workforce before buying a home has increased from 2 to 12 years. Ouch. 

What happened: Cue: OwnHome. An Aussie startup in the 'rent-to-own' business that tries to help Aussies get into the property market. 

What else: So far, they've only proven this model with 9 homes, but they just closed a $31 million investment round. Not beeeehd at all!

So what's the key learning?

💡With a house deposit so hard to achieve these days, a number of new models have emerged to help people get into the property market.

💡We've got: 

1. Rent-vesting: where you buy a property in a location you can afford, while renting in a location you want to live.
2. Fragmented property purchase: where you buy a fraction of a physical property as an investment (but you can't live there)
3. Rent-to-buy: where buyers can lease a property with the option to buy it at a later date.

💡Rent-to-buy schemes allow tenants to build up equity in the property as they pay rent. This means you get a foot in the door (literally) in a sizzling property market.

Calm has bought Ripple Health Group so get ready to level up your relaxation

Background: Calm is the meditation and sleep app founded back in 2012. It's famous for those sleep stories by all your fave celebs like Idris Elba and Harry Styles.

What happened: They've just acquired Ripple Health Group - a health-tech company that works to connect people with their healthcare options.  

What else: Ripple's team will join Calm and focus on building Calm Health. And Ripple's CEO will join as Calm's co-CEO.

So what's the key learning?

💡In traditional companies, we usually see one person in each executive position (i.e. one Chief Financial Office...one Chief Operating Officer...and one Chief Executive Officer).

💡More and more, we're seeing companies that have two co-CEOs that work together. Atlassian did it with Mike Cannon-Brookes and Scott Farquhar...so did Netflix and Salesforce.

💡Because modern businesses move at such a fast pace, the demands on a single CEO have become a bit too big for just one CEO. And, with two CEOs, you often get two different skill-sets.