Barefoot Investor Scott Pape on what cigarettes and cereal have in common and talks AI, toy boys

A reader’s elderly mum has married a much younger guy, who sits on the couch enjoying a free house and a ready supply of easy cash. The Barefoot Investor says there’s one thing she must do.

Scott Pape, the Barefoot Investor.

Sixteen years ago, I walked into Channel Ten and sat behind the desk of something called The 7pm Project.

I had absolutely no idea what I was doing.

Dave Hughes worked this out within minutes and started going wildly off-script just to watch me squirm.

It worked. I’d get rattled and blurt out strange, borderline-incoherent things on live TV (think: finance segment meets mild stroke).

Management eventually realised I needed more than a script — I needed a miracle worker. So they paired me with a producer who was kind, calm, and blessed with the patience of a saint.

That producer didn’t just lift my performance – she changed my life. And I still can’t believe I got so lucky. She’s still quietly keeping the whole show together, only now the cast includes four kids, a farm, and me still winging it after all these years.

Anyway... RIP The Project.

However, if I’m honest, I’m part of the problem. The only traditional TV we watch these days is ABC Kids and Kayo. Everything else? YouTube.

Speaking of which — here are three videos that completely sucked me in:

The AI Revolution Is Under-Hyped

Oh no. All this talk of ‘super intelligence’ is turning me brain dead.

It’s said that calling AI “intelligent” is like calling a microwave a “chef” (though if we’re honest, most people’s office jobs are basically microwaved dinners anyway).

In this TED Talk, Eric Schmidt — the guy who took Google from scrappy startup to global empire — drops some uncomfortable truths about where he thinks all this is heading.

And Schmiddy’s got a habit of saying the quiet part out loud.

Years ago — well before we fully clocked the privacy issue — he was asked about Google’s data collection:

“We don’t need you to type. We already know where you are. We know where you’ve been. We can more or less know what you’re thinking about.”

Now, on AI, he says:

“The arrival of this intelligence is the most important thing that’s going to happen in about 500 years, maybe 1,000. We are not prepared — not even close — for what’s coming.”

For him, the real danger isn’t overhype, it’s that we’re totally oblivious, scrolling through TikTok while our kids are downstairs microwaving a fork for lunch.

Watch it here

Are we under-reacting to AI?

You May Never Eat This Food Again

Apparently, M&M’s and Doritos might soon carry warning labels in Texas:

“Not recommended for human consumption.”

Seriously. Lawmakers there want all ultra-processed foods (UPFs) to come with a health warning.

Dr. Chris van Tulleken thinks it’s overdue, and he’s not your average kale-pushing wellness guru. He’s an Oxford-trained infectious disease expert who advises the UN.

In this mouth-opening interview he explains how Big Tobacco bought food giants like Kraft in the ’80s and used cigarette-style addiction science to rewire how we eat: they engineered “hyper-palatable” foods — perfect sugar, salt, and fat combos that override fullness — and used tricks like “vanishing calories” to keep us eating. They even targeted kids, just like they did with smoking.

Today, UPFs make up over 50 per cent of our diets (and up to 70 per cent for kids!) and because of that they’ve overtaken tobacco as the leading cause of early death.

After watching this vid you’ll never look at the cereal aisle the same way again.

Watch it here

It tastes amazing on purpose.

Why Governments Are Addicted to Debt

If you spend enough time on YouTube, everything eventually loops back to Trump.

Remember all his tariff chest-beating?

This brilliant explainer from the Financial Times explains the one thing that actually made him backtrack: America’s soaring debt.

What most people missed is that it wasn’t diplomacy or outrage that shut him up … it was the bond market. Yields spiked, Wall Street panicked, and suddenly ... silence.

For decades, cheap borrowing has allowed politicians to dodge making hard decisions. Yet with inflation back and interest rates rising, the bond market’s getting twitchy again. And no politician wants to actually admit that everything’s fine… until it isn’t.

Watch it here

Happy viewing!

Tread Your Own Path!

Maybe governments should get on board the Barefoot bucket system.

I’m at WAR with My Mum’s Toy Boy

Scott,

Five years ago, my Mum, aged in her early 70s, went overseas and fell for a much younger man. After three years of long-distance dating, he finally moved here, and they got married.

Mum is telling me that she’s sending $1000 a month back to his family as ‘that is the tradition’?! Now, she tells me that when she goes, everything will go to said hubby. I don’t know how much she has in Super and Savings and she’s owned her house outright for over 10 years.

Am I being jealous, greedy and selfish or would I have a legal right as the only (‘flesh and blood’) child to continue the tradition of passing down to family, as I have two children, each of whom, will receive an equal share of my funds when I die.

I have a great relationship with Mum but we’ve never discussed wills and I’ve never pried into her accounts and affairs. As for her non-working, much-younger husband, we clash, and he just seems to be sitting back almost rubbing his hands with glee. I’m torn as to what I can do.

Sia

Hi Sia,

I can see why the chicken might be a bit chewy at the family roast.

A much-younger unemployed bloke marries your mum, moves countries, scores a free house, sends money to his family, and lines up to inherit everything. All in the name of “tradition.”

It’s a tradition alright. Toy boys have been cashing in since Cleopatra hired her pool boy.

Here’s the truth: you can’t control your mum or force her to change her will. What you can do is write her a heartfelt letter explaining how this affects you as her daughter and your kids as her grandchildren.

But whatever you do, don’t go to war with him. He’s not stupid—he’s landed the only job where being unemployed comes with a house and inheritance.

Charlotte, there’s only one guaranteed way to lose: letting this wreck your relationship with your mum. If it doesn’t go your way, refuse to let this stress bleed into your life. Instead, use it as fuel to build wealth for your own kids and model the legacy you wish you’d been part of.

Have a talk about it - but make suyre the relationship is the priority.

My Financial Planner is a Robot

Scott,

Thanks for last week’s column on ChatGPT. It inspired me to test it for a personal project: financial planning for the eight years leading up to my retirement. I entered our full financial picture, including major goals like a new car lease and a caravan, and it generated a 36-page plan covering budgeting, investments, and retirement projections. I had it reviewed by a financial advisor (without mentioning it was AI-generated), and they were impressed, with only minor tweaks needed. The research was solid, with references included. It’s exciting to see AI making quality financial advice more accessible.

Aaron

Hey Aaron

Holy moly, did that column open up a can of worms.

Half my readers are convinced AI will somehow talk them into buying a timeshare in Managatang, while the other half are lecturing me about melting polar ice caps every time someone asks ChatGPT what’s for dinner. (Oh, and lots of people admitted they’re already having deep conversations with the AI version of me, which is just so … weird).

Yet Aaron you’ve cracked the code by using it as a research assistant rather than a replacement. I bet your advisor was quietly impressed that someone finally showed up having done more homework than googling ‘how much super do I need?’ five minutes before the meeting.

Well played.

DISCLAIMER: Information and opinions provided in this column are general in nature and have been prepared for educational purposes only. Always seek personal financial advice tailored to your specific needs before making financial and investment decisions.

Originally published as Barefoot Investor Scott Pape on what cigarettes and cereal have in common and talks AI, toy boys