Equity Mates Investing Podcast Big Tech’s tiny tax bill, Elon v Altman goes to court & Mr Beat-Up’s “big catalyst” stock
29 snips
Apr 29, 2026 They dig into how Amazon, Google and Meta shift billions offshore to minimise Australian tax. A high-profile courtroom clash between Elon Musk and Sam Altman is unpacked for its wider implications. A deep dive examines a stock down 65% after tax hits, an India exit and regulatory shocks, plus whether the World Cup could act as a short-term catalyst.
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UK Gross Gaming Tax Hits Flutter Hard
- UK tax changes levy gross gaming yield, not profit, sharply increasing government take.
- Simon explains iGaming tax rising from 21% to 40% and sports betting from 15% to 25%, forecasting $235m–$340m hits to Flutter's profits.
India Exit Forced A Big Impairment
- Flutter wrote off its India business after being effectively banned there.
- Simon notes a £550m impairment and an expected $250m revenue hangover in 2026 from the India exit.
Prediction Markets Bypass State Betting Rules
- Prediction markets in the US are bypassing state betting regulations and stealing volume.
- Simon points to Polymarket and Kalshi offering sports-related contracts nationwide, with Kalshi showing 90% sports volume late 2025.