There was one interesting number buried in the release of labour data from the Australian Bureau of Statistics late last week - the highest rate on record of Australians who hold more than one job.

6.9% of employed Australians now have two or more streams of income - the highest level since data collection started in September 1994.

It’s not just those in two or more part-time positions - the number of people working one full-time job with a second job has also risen.

The quote: “While Grindr disputes the allegations, it recognises and acknowledges the distress and loss of trust expressed by some of its UK users regarding that pre-2020 period.” Grindr, the world’s largest LGBTQ+ dating app, in a statement announcing it has settled a lawsuit over claims it misused personal information of its users, including their HIV status.

The stat: 50,000. The number of jobs Volkswagen announced it will cut worldwide by 2030, after an agreement with management and trade unions on 3 September. This is on top of the 50,000 job cuts announced in March, bringing the total number of cuts to 100,000 by 2030.

The graph:

The ASX 200 tracks the 200 largest companies listed on the Australian share market. In the past month, the ASX 200 has fallen by 3.9%. This was due to stronger-than-expected economic data increasing the risk of rising interest rates and renewed fighting between the U.S. and Iran this past month.

One Nation leader Pauline Hanson has proposed loosening superannuation rules for renters and mortgage holders. Under the proposal, renters and mortgage holders could choose to have a quarter of their super contributions paid to them instead.

Here’s what you need to know.

One Nation is a political party in Australia, led by Pauline Hanson, that currently holds four seats in the Senate and one seat in the House of Representatives.

Its policies include significantly reducing immigration, scrapping ‘net zero’ climate policies, and embracing Australia’s coal industry.

Since the last election, One Nation has consistently performed well in polls. In state politics, it recently won its first ever seat in Western Australia’s lower house.

Since 1992, employers have been required to set aside a percentage of employees’ pay into a retirement fund. Today, the percentage is 12%.

The system is known as superannuation (or ‘super’) and the payments are called compulsory super contributions.

Money in the fund is invested and grows over time, so people typically take out more in retirement than was put in.

Up to a certain level, super contributions are taxed at 15%, which is less than what many pay in income tax.

On Monday, One Nation announced it wants renters and mortgage holders to be able to access a quarter of their compulsory super contributions (3% of their wages). This would mean your employer still pays your super, but if you’re a renter or mortgage holder, you could choose for a quarter of it to go into your bank account instead.

Existing money in super funds would not be touched. The policy would allow you to opt in for up to three years.

The proposal is a policy announcement, meaning it would be introduced by One Nation if it won government at the next Federal Election, which is due by 2028. It would then need to be legislated to take effect.

Federal Treasurer Jim Chalmers argues that One Nation’s proposal “will make Australians worse off, not better off, in retirement.” He also labelled the proposal a “full-frontal attack on superannuation”.

Opposition Leader Angus Taylor told reporters in relation to the announcement: “What we see with these policy announcements constantly is no detail – and the detail really matters.”

Reporting by Adam Wan.

You may have noticed that the valuation of Canva and its challenges with AI have been in the news recently.

This is partly because two of Canva’s investors, Blackbird and AirTree, have cut their valuation of the company by 17% to $US34.9 billion.

So what’s going on?

Canva is Australia’s most valuable private company, specialising in graphic design. It was launched to the public in 2013 by its co-founders, Melanie Perkins, Cliff Obrecht and Cameron Adams. It now has 265 million monthly global users.

Lately, Canva has run into a big issue: AI.

AI has proven to be a bit of a pickle for Canva (and for the tech industry in general) in two main ways.

The first is that AI is expensive. If you’re a tech company in 2026, you’re pretty much expected to have AI as part of your offerings. In Canva’s case, users can use AI to generate new images, redesign graphics and more. However, these AI services aren’t cheap for Canva to operate and provide. Canva has delayed the launch of their AI products because the costs of AI were so high that growing too fast wouldn’t have made economic sense.

The second is the longer-term risk that AI could erode the need for graphic tools like Canva, unless they adapt. Generative AI has come a long way in the past few years. For example, users can now generate full designs from a single prompt in ChatGPT, Claude and other AI models, bypassing the need for graphic design tools. This is a huge concern for the future of the broader industry.

Canva has responded by leaning into AI and embedding it deeper across its products.

Every year, Canva unveils updates to their products at their flagship event, Canva Create. At this year’s event in April, they announced Canva AI 2.0, which it called “its most significant product evolution since launching in 2013”.

However, co-founder Cliff Obrecht confirmed at Stripe’s Sydney Tour in August that they have significantly slowed down this rollout whilst they get the cost side of things in check.

As mentioned above, part of the reason Canva has been in the news is because of its valuation.

The TL;DR is that Canva’s valuation has fallen – despite achieving their ninth consecutive profitable year.

So, what is a valuation and how can it fall? That’s how much a company is worth. Investors care about valuations because when valuations grow, that means their investments are worth more.

One of the ways to value a private company is to use a technique called multiples valuation. This is when investors look at similar publicly listed companies and compare those companies’ valuations with their financial performance.

Let’s say you’re trying to value a Mexican restaurant you own.

There are three publicly listed Mexican restaurants in your city that have an average yearly revenue of $1 million and an average valuation of $10 million. This means the average valuation-to-revenue multiple (or just ‘revenue multiple’) is 10x.

Your restaurant forecasts revenue of $600,000 this year. Applying the revenue multiple to your restaurant, you can estimate that your restaurant has a valuation of $6 million.

But let’s say your restaurant is facing two huge problems.

First, the AI chefs you hired are costlier than you thought. So, you revise your revenue goals down to $500,000.

Second, AI companies are creating restaurants that make Mexican food. Investors get nervous about the state of the industry, and the average restaurant valuation falls to $7 million. In other words, the revenue multiple is now 7x.

Applying this new multiple to your new revenue, your restaurant is now valued at $3.5 million.

So, a combination of worsened financials, and worsened market conditions, is how Canva’s valuation would have been reduced. Investors don’t publish their models so we can’t say for certain why Blackbird and Airtree cut their valuations.

But what we can say is that Canva was rumoured to go public next year – although that could now be delayed until conditions are more favourable.

Reporting by Adam Wan.

Two heritage brands just dropped a collab we didn't see coming - Ford x Brixton.

The limited-edition collection brings Ford's Built Tough legacy into Brixton's signature streetwear - think tees, caps and jackets in that unmistakable Ford Blue, plus bold racing stripes straight from decades of American automotive heritage. Workshop-grade quality with weekend-ready style.

In case you missed it, camera maker GoPro is pivoting to… national security? 

Last week, it was announced that GoPro agreed to a $US285 million ($AU395.6 million) merger with Starman Optical. If you’ve never heard of this company (you’re not alone), they plan to make products used in AI data centres and defence tech.

Why “plan to make”? Well, they were only just incorporated on 31 August, a day before the announcement… (Although, their parent company, Starman Holding, has been around for a while).

Founder and CEO Nicholas Woodman said the merger will shift GoPro into a company that addresses “important areas of national security”.

If that isn’t interesting enough: Popular gaming YouTuber-turned-movie-director Markiplier became GoPro’s largest outside shareholder seven weeks before the announcement was made. When the merger was announced, GoPro’s share price rose by 37%.

In a livestream, Markiplier denied knowing about the merger when he invested and said he “wouldn’t even be remotely close” to GoPro’s shares if he knew about it.