In one of the greatest championship defenses of all time, the undefeated WCW World Heavyweight Champion Goldberg defends against the red hot #1 contender Diamond Dallas Page. Where will this classic match rank on the list of greatest matches of all time?Support the show (https://www.patreon.com/lastmatchstanding)
In this flashback episode of the Wade Keller Pro Wrestling Podcast, we jump back to two episodes from five years ago this month - one covering Raw with host Wade Keller and the other covering Smackdown with Wade and co-host Pat McNeill.In the first episode from Nov. 21, 2016, PWTorch editor Wade Keller talks with live callers following that night's Raw episode about the Goldberg announcement on Raw, plus thoughts the day after the Survivor Series main event where Goldberg squashed Brock Lesnar. Also, callers drive other topics on the show coming out of Raw.In the second episode from Nov. 22, 2016, PWTorch editor Wade Keller and PWTorch columnist Pat McNeill went live right after WWE Smackdown Live and talked with callers from three continents about A.J. Styles vs. James Ellsworth, pro wrestling failing to protect their characters and images on social media, Dean Ambrose comedically driving Shane McMahon nuts, TLC line-up developments, and more on Goldberg vs. Brock Lesnar.
Episode 133 - Contractual Confusion: Aug ‘03 This week Mike & JV will discuss the following events on Raw from August 11 & 18, 2003 & Summerslam ‘03! RAW 533 - 08/11/03 - Promo - Part I - Eric Bischoff & Jim Ross (01:52- 08:51) RAW 533 - 08/11/03 - Audio - Promo - Part II - Stone Cold confronts Eric Bischoff (09:50- 16:29) RAW 533 - 08/11/03 - Backstage - Evolution Bitches (24:30 - 26:20) RAW 533 - 08/11/03 - Backstage - Eric Bischoff & Kane (40:41- 42:18) RAW 533 - 08/11/03 - Match - Eric Bischoff vs. Kane (45:45- 51:12) RAW 533 - 08/11/03 - Backstage - Evolution (58:00- 59:35) RAW 533 - 08/11/03 - Audio - GM Office - Stone Cold Steve Austin & Eric Bischoff (01:00:58- 01:03:30) RAW 533 - 08/11/03 - Match Results - Ric Flair vs. Bill Goldberg (Special Ref. Randy Orton) RAW 534 - 08/18/03 - Audio - Backstage - Stone Cold & Evolution (18:17- 19:58) RAW 534 - 08/18/03 - Promo - Shane McMahon (20:30- 22:11) RAW 534 - 08/18/03 - Live Via Satellite - McMahon's Home - Linda McMahon - Eric Bischoff Arrives - Shane McMahon's Reaction (01:00:30- 01:07:42) RAW 534 - 08/18/03 - Match Results -WWE Intercontinental Championship Match - Christian vs. Rob Van Dam (01:09:48- 01:18:46) RAW 534 - 08/18/03 - Backstage - Kane & Rob Van Dam (01:19:31- 01:21:46) RAW 534 - 08/18/03 - Match - Randy Orton vs. Bill Goldberg (Special Enforcer: Stone Cold Steve Austin) (01:21:47-01:32:23) Summerslam 2003 - 08/24/03 - Summerslam Results Summerslam 2003 - 08/24/03 - Quick Match Results - Match #3 - Falls Count Anywhere Match - Shane McMahon vs. Eric Bischoff (RAW) (40:08- 56:00) Summerslam 2003 - 08/24/03 - Quick Match Results - Match # 6 - No Holds Barred Match - Kane vs. Rob Van Dam (RAW) - (01:50:26- 02:06:00) Summerslam 2003 - 08/24/03 - Match #7 - Main Event - World Championship Match - Elimination Chamber - Triple H vs. Goldberg vs. Randy Orton vs. HBK vs. Kevin Nash vs. Chris Jericho (RAW) - (02:20:52-02:44:06) Next Week - E134 - Employee of the Month - August - Sept ‘03 - RAW 8/25/03 & RAW 09/01/03 Check out "Talking Taker” Alex & Travis are "digging up" the career of the Undertaker. You can now dig deep back into their archives of episodes and explore the entire run of the Deadman. Give them a follow on Twitter @TalkingTaker and follow their YouTube page! This month is Ep 193 - Escape the Undertaker Booking the Territory: The Unprofessional Wrestling Podcast - Mike Mills, along with his hilarious & informative team of Doc Turner & Hardbody Harper, break down episodes of NWA WCW Saturday Night from 85-90. This Thursday on the NWA/WCW episode they cover June 30, 1990 Join the Booking the Territory Patreon Page at Patreon.com/BookingTheTerritory at the $5 Tier to join JV & Mike on the “Extreme ECW Live Cast”. This past week, Extreme ECW Live Cast: Extreme ECW Live Cast - Supercard Special #10 - Hostile City Showdown: April 15, 1995 Check out Our Vantage Point: Retro Wrestling Podcast with Joe Marotta & Michael Quinn, this week is Ep 248 - Anywhere But NY: Lex Luger , Royal Flush Week 4 - Worst WWE PPV's (The Wrestling Classic & Wrestlemania XI), Review of NWA World Championship Wrestling 4/29/89 Please reach out and support us on Twitter @bottomlinecast, @MPRU83 & @JOHNVANDAMAGE Please take the time to Subscribe and write a Five Star Rating at Apple Podcasts! Please Subscribe to our YouTube channel, Bottom Line Wrestling Cast. Thank you for listening! Find out more at https://bottomlinecast.pinecast.co Send us your feedback online: https://pinecast.com/feedback/bottomlinecast/5fbc8a8e-f480-4e5a-849b-3fba0f81b2f5 This podcast is powered by Pinecast.
Over 20 years of medical device industry experience in development, marketing and senior management positions. Diverse background in all stages of product development of medical devices concept to commercialization. I'm a trained dentist, I practiced dentistry for a few years before joining the industry. In a few months I'll have three kids serving in the army at the same time.
This week J-Bone breaks down the Survivor Series minus a certain egg. He breaks down lowlights of Raw and Smackdown. The guest this week is a king in the wrestling card game Mr. Jamie Wallace(32:00). He breaks down his incredible run of collecting the entire 98-99 WCW/nWo cards. Hear how and why he started to how he did it to his next plan. We watch Hogan vs Goldberg from July 6th 1998 Monday Nitro. Hear the breakdown of all figure news and what to listen and watch this week. Listen to the car JoeMez podcast here. https://podcasts.apple.com/us/podcast/the-car-joemez-podcast/id1123459397 --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app
Hiram Blud was murdered! Maryanne, Anjus, and Eugene are trying to solve the mystery. But the villainous Pirate Penny has her own plans. Luckily this scientifically minded trio have gotten the police involved. And it seems that Police Commissioner Theodore Roosevelt has a theory about the crime ... The Land Whale Murders is a Roi Gold Production it was written by Jonathan A. Goldberg with music by Matt Roi Berger. It was directed by James Oliva with sound design and editing by Martin D. Fowler. Jordan Stillman is our production manager. for more information visit: www.landwhalepod.com Warning: this podcast contains depictions of violence, adult situations, historical inaccuracies, slang, outdated ideas, well meaning but flawed people, inappropriate jokes, anachronisms, and overall piffle and humbug, listener discretion is advised Learn more about your ad choices. Visit megaphone.fm/adchoices
This is a fun Wednesday Rewind because we start it off with a brand new interview with Kelly Sutton to find out what she has been up to this past year, then we jump back one year and replay our Thanksgiving episode from 2020. Looking back a year, I think we all have a lot to be grateful for. I know we are grateful for you, the listener, and we are also grateful to our sponsors that allow us to put out new podcasts week in and week out. We wish you and your family a Happy Thanksgiving! Episode brought to you by Complete Health Partners --- Send in a voice message: https://anchor.fm/brandon-styll/message Support this podcast: https://anchor.fm/brandon-styll/support
EP281 - Mark Mahaney, author and top internet analyst Mark Mahaney is Senior Managing Director at Evercore ISI, Research Division, he's one of the original and longest lasting internet analysts on Wall Street. He recently published “Nothing but Net: 10 Timeless Stock-Picking Lessons from One of Wall Street's Top Tech Analysts.” We cover a variety of fun topics including the beginning of his career with with Mary Meeker. His initial evaluation of EBay. His long positions on Amazon, Netflix, and Priceline, and butting heads with Jim Cramer over Google. We also discuss what's next for Amazon, and where the best investments of the future might be. Episode 281 of the Jason & Scot show was recorded on Thursday, November 18th, 2021 http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:00] Welcome to the Jason and Scot show this is episode 281 being recorded on Thursday November 18 20 21. I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scott Wingo. Scot: [0:16] Hey Jason and welcome back Jason Scott show listeners. Jason as you and the listeners know I am a huge scene in b.c. junkie and you can't turn on CNBC Durning Earth during earning Seasons without seeing Mark mahaney he is one of the top internet analyst. He was actually on recently talking about the artist previously known as Facebook meta Mark has a new book out called quote-unquote Nothing But net and is joining us tonight give listeners an early peek of what is sure to be the best seller in the bookmark covers some of our favorite companies including Amazon Apple Facebook / meta Google Netflix Twitter and Uber Mark welcome to the show. Mark: [0:56] Thanks for having me on guys. Jason: [0:58] Mark we are thrilled the chat with you is you know Scott is a huge Amazon fan boy so I anytime he gets a chance to talk Amazon he's excited. And I'm super excited because after tonight show I'm going to be smart enough to get rich like you and Scott so that's pretty pretty exciting for me. But before we jump into all that we always like to give listeners a little bit of a feel for our guests background and in your case I know I think you're officially the the oldest analysts on Wall Street is that true. Mark: [1:29] Well that's the oldest and longest lasting internet analyst on Wall Street but I don't look the part so how about we do that yes I've been covering Internet stock since 1998 do a series of bank said I started, working with this tremendous analysts her name was Mary Meeker her name is Mary Meeker and started the first Friday I was on Wall Street I got a call from the CFO of this tiny little online auction company that sold Pez dispensers and was looking to see whether any banks would be interested in their IPO that company was eBay so I wasn't there at the beginning of the internet but I was there pretty close to the beginning of the commercial for the public market to internet and it's been a fascinating ride and I thought there were a lot of lessons I could draw both from the successes the market and failures in the market and my personal successes and failures as a stock picker. Scot: [2:20] Cool what's so name some of the firm's so in my recollection you've probably worked at six firms like how many firms have you worked out over or that career. Mark: [2:30] Yeah now I don't want you to think I you know I jump around too much but I started off at Morgan Stanley also worked at Citibank Royal Bank of Canada. A small boot wonderful Boutique called American Technology research and I'm currently at evercore isi but I've been doing nothing but net. Hence the title of the book that's been my email tagline or always online is one of those two it's been my email tagline for 25 years but nothing but net and that's just doing my best to try to stay ahead of these internet stocks the early ones the the eBay's the Amazons the Yahoo excite if you might remember them infoseek. And then and then AOL and then and then later on some of the more Dynamic ones came out ended up with names like uber including most recently one you talked about Warby Parker so it's been a fascinating span and arguably one of the most dynamic. Parts of Wall Street I guess if you were working as an analyst on Wall Street. Or portfolio manager portfolio manager if you could have picked two sectors to be a part of to track over the last 25 years one of them has to have been the internet just how explosive it's been a been plenty of – explosions in there but there's been some wonderful wealth creation the other sector would probably be software just just too wonderful Industries I got lucky I was I was part of the internet. Scot: [3:49] Yeah I'm glad you didn't pick Mall Focus treats that would have been a bad choice. So you know as Jason mentioned there's kind of this auspicious title that you have of the oldest I would say wisest and most longest lasting internet unless. Tell us about some of the as you reflect in the book is kind of got some really good stories and you've been kind of on the front row seat of a lot of cool stuff maybe tell us what was your worst pick and best pick in the span of the career there. Mark: [4:22] Well I had a sale on Google it close to its IPO I was brought on to CNBC show and told by none other than Jim Jim Cramer that I was an analyst with a three-egg omelette on my face because of my cell phone call he was right I was wrong so you know one doesn't pretend one doesn't tend to forget moments like that on public television being told that you know you're pretty much an ass. But it does happen you know there are axes and then there are you know others and so I made plenty of mistakes I had to buy on Blue Apron although the lessons from that turned out to be different than I thought I got the call wrong but the lessons were different than I thought I kind of dissect that a little bit in the book. So those are some of my some of my worst calls I think my to my three best calls have frankly been sticking with a buy on Amazon for pretty much the last 15 years Netflix for the last 12 years and Priceline and now now booking for. [5:18] For a solid 12 years both Netflix of all three of those were really decades-long S&P 500 Best in Class stocks for a variety of different reasons and in the book I try to call out what were those reasons what were the what's that what's the pattern recognition so that you know we as investors can find the next Netflix and the next Amazon doesn't mean and Amazon and Netflix can't perform well from here but what are the things you can see in common that can help you as a stock picker you know kind of see ahead what really kind of started a lot of the the insights the idea of the book was this wonderful book that was written in 1980 called that one up on wall by Peter Lynch kind of a Bible or primer for anybody really looking to invest invest in the market with some wonderful advice and I really had any wrote it based on some wonderful examples of successful stocks and companies of his generation and I thought somebody needed to write one about our generation and you know these phenomenal money-making we know wealth-creating stocks that have. [6:19] That have soared the charts top the charts over the last 20 10 5 and even two years that have been dramatic dramatic winners from the covid crisis to I try to keep it long term in duration and frankly that's one of the big lessons I have in my book is. Is you know long-term I've found stocks do follow fundamentals they just do companies get bigger more Revenue more profits their stocks go higher almost always that's the case if you're a patient long-term investor so you can make money just investing you don't need to day trade and I think that was the last thing that really inspired me to write this book there about 15 million new. [6:53] Trading accounts that have opened up over the last two years you know the mean Traders the Robin Hood accounts and I just wanted to step back and say look you can have very good returns in the markets by buying high quality companies especially Tech and growth companies you don't have to day trade you can sleep better at night I got plenty of examples of companies that created wonderful. Shareholder returns over time and their stories you can take your time and really understand and stick with and anyway that's it this is this book is a little bit of little bit of personal Memoir but really more of a history of the Great. Companies and the ones that failed and then what are the lessons you can draw to apply going forwards. Jason: [7:32] Got it so I know it's not in your coverage area but you would have a buy on GameStop is that what you're saying no. I Nostalgia requires me to ask though I am staring right now at a pets.com. Puppet still in the box that's like sort of a Memento I have on my on my desk like we're you covering like those guys at the at the. Dot-com boom. Mark: [8:00] No no I didn't but I refer to that in the book and I make this I draw the comparison you know pets.com and smoke you know pets.com went public with trailing 12 month month revenues of 5 million I don't know if you heard that right five million dollars. [8:16] Trailing 12 months they had been an operating company for under two years I mean how that thing got out you know in hindsight is is is pretty shocking but wait a second go you know go forward 15 years and what came out. To e.com chewy.com went public with 3 billion in trailing sales and you knows the same sort of basic value proposition to Consumers it's just that the market was a lot bigger it allowed for a lot more scale and a bunch of other things came out o like cell phones smartphones cloud computing which allowed companies to scale up at much lower costs and so the markets really were proved out at that you know the time of pets.com there were three unknowns is there really an internet Market are there really good management teams and other really good business models today the first question is emphatically yes they are huge Market opportunities and they've been proven in in the Internet space advertising retail entertainment a lot of different ways you can cut it and there's some business models have generated enormous amounts of free cash flow and then there are yes of course there's always a few select excellent management teams who find that right combination it can be it's proven to be a great path to making money in stocks and chewy has been a stock that I've really liked since its IPO even though it's the next pets.com and that's the cynicism that people be placed in front of it when they went public. This was a very different puppy. Jason: [9:39] Yeah it does it seems like timing it seems obvious but timing is such a big. Part of all that you referenced Peter Lynch and I know you know there's. There's all the old Netflix stuff I actually started my career at Blockbuster entertainment and so in my in my industry everyone makes fun of Blockbuster that we got Netflix stand and all those sorts of things and I always have to point out. You know we sold Blockbuster for 18 billion dollars in 1995 like five years before Netflix was invented. Then it was a good business with a good exit you know every every business has it it's it's moment and it's time and you know the the railroads aren't the investment that they once were either. Mark: [10:28] Netflix is a fascinating story so let me let me let me jump to it a little bit you know one of the things the punchline of I asked people if you're going to remember one thing for my book I hope you'll still buy it but if you're going to remember one thing from my book it's dhq it's not DQ That's Dairy Queen dhq is dislocated high-quality companies and. You know time you mentioned timing I was thinking in terms of stock timing I thought those were your going to take us I think it's very hard to the time stocks but you know you can clearly see when stocks are dislocated I either traded off twenty Thirty forty percent so that's usually you know time if you think it's high quality asset and it dislocates them they all dislocate from time to time even the best highest quality names. That's when you can kind of Step In add the positions by the stock knowing that you in a way mitigated some of the valuation risk as investors your tries an investor you're trying to do two things mitigate valuation risk and mitigate fundamentals risk you know the chance that Revenue falls off a cliff margins get crushed the way you mitigate that fundamentals. Risk is to focus on companies with large Tam's excellent management teams great product Innovation and superb customer value prop and Netflix screen so well for me on those four things I'll just take this off super quickly if you don't mind. [11:42] The industry Vision so let's see Reed Hastings invented or started Netflix back in 1997 Netflix the name itself sort of implies that somehow we're going to be doing some streaming thing and this is a 1997 when it would have taken you four hours to download the first five minutes of Terminator like there was no streaming Market there but yet. [12:02] That was the premise of the company in 10 years later you know you look at the first initial interviews with Reed Hastings I mean this is where he was going to take the company all along so I was just giving him kudos for industry vision and the fact that he was willing to cannibalize his existing DVD business first dreaming business very few entrepreneurs can do that so management you know checks My Box customer value proposition the best way to tell whether a customer a company has a great value proposition is do they have pricing power will do people love it so much that they'll pay more for starting in 2014 Netflix started increasing pricing just about every other year and there's some ads accelerated that's a compelling that's evidence of compelling value proposition third is this product Innovation and you know they just don't have a lot of things not just streaming but there's a lot of these little tweaks that the side like binge watching you know kudos to Netflix for just rolling out new series all at once I mean practically invented binge-watching and of course you know they sort of invented the streaming thing or the people who founded music really did that but but Reed comes in a close close second on that and then you know I'm finally in terms of Tam's large Tam's total addressable markets. [13:13] You can add it up a couple of different ways but you know home entertainment video consumption it's it's a couple of hundred billion dollars in total you know Market opportunity and then who knows these things come along like smartphones and all of a sudden the majority of usage is on smartphones that tells you that these markets could be a lot bigger than we traditionally thought just like Spotify blew out the market for what really could be music advertising revenue and music subscription Revenue Netflix is did the same thing with me with Video subscription Revenue they blew up the tan they made it a lot bigger so that's right you know I love that story about the stories about Netflix I gave him a tremendous amount of Kudos I think the sometimes people under appreciate just because it's kind of a singular company just you know video video streaming I think they I think they don't get enough credit for what they've done and what they could still do because I think there's still one more one more trick up Reed Hastings sleeve and I think it's gaming and he's reached they've received such so much skepticism about this pivot or missing expansion in the gaming but you know management team to figured out dvd-by-mail streaming original content International expansion mount give them the benefit of the doubt that they can figure out an Innovative new way. To deliver gaming and therefore further increase their value proposition you'd want to stick with a company like that I stick with the stock like that. Scot: [14:34] Ever kind of a random question let's say there was I'll pick something at random a company that was Reinventing Car Care and making it mobile and digital would you call that a dhq. Mark: [14:45] I think that yes yes absolutely. Scot: [14:51] All right leading the witness. I do have to give you Kudos because in the Netflix section you do have a Star Wars reference you talk about the Disney death star which is which is appropriate because they now own the Death Star it's got a part of there is one of their IPs. Mark: [15:09] But by the way that was you know there were a couple of Netflix there's a rocky stock Rocky stock here that's right that's a that's a rocky stock for you it's had there were two times they miss Subs because of uncertainty over the price increases and they got some pushback it was an obvious that they had pricing power but they proved it over time and then they've got this great competitor risk with Disney and I think what the market missed on that this is just kind of leaving aside the book of just talking about stock picks is you know people are going to sign up for multiple streaming services now not now not five six or seven but they'll sign up for two or three if there's original content and they have original content I mean there's some things you will you have to sign up for Disney Plus for if you if people are like use God and you know dramatic. [15:52] Star Wars fans of course you can sign up for Disney plus but you know there's because its original content if you want to watch squid game there's one and one only place you can go for that and you know there's going to be another squid game or you know another show that just kind of breaks through the site-geist and by the way that's where Netflix is so I'll leave Netflix aside but I'm so struck by is this company shapes the Zeitgeist whether they can cause a run on chess board sales worldwide with the Queens Gambit a year ago where they can cause more people start studying Korean on Duolingo a language app which I actually like is the stock because they can you know they've introduced this show squid games like when a company reaches the Zeitgeist when they when they become almost like a lucky lexicon like they become a verb like I'm gonna google that or you know it's the Uber of this that or that you know that's that's something special and those are usually stocks that have gotten very long runways. Scot: [16:44] Yeah and I'm here in North Carolina and we have all these MBA we have all these universities and I was actually speaking earlier this week at MBA class over at Duke. And you know I have this whole little joke track that I do where I talk about my first company was profitable and I learned I could never raise VC because get the TV season that's a your profit we don't invest in property companies so yeah I often joke that I've been doing it wrong and ever since then I haven't made a dime. And I kind of thought it was those funny because you kind of. The internet sector was kind of early before SAS where and you point this out where there's kind of you know what we learned is there is an investor that loves Revenue growth and in a way that the opposite side of that coin is it can actually hurt you if you start to make profits maybe share with listeners that that you know probably many of them come from traditional businesses where that sounds nonsensical maybe maybe explain kind of what happened there. Mark: [17:41] Well I want to be I want to be on to get nuanced here which is you know I that chapter that says the most important thing out there is revenue revenue revenue you know for tech stocks and growth stock. But of course earnings and free cash flow matter it's that sometimes the public market is a lot longer term focused than people give it credit for Netflix is a great example that also is Amazon. I mean those those businesses had if you look at near-term valuation PE metrics price to free cash flow there's no way you would have bought those stocks. But what I think long-term growth investors realized is there's this you know when these get these assets that can grow their Top Line twenty to thirty percent Plus. From scale for multiple years like that can that creates an enormous amount of value over time and it's so rare I came up with something of a 20% rule you know it's one to two percent of the S&P 500 that can consistently grow at from scale their Top Line 20% which is like five times faster or six times faster than Global GDP growth so it's rare for good reasons but those companies dramatically outperformed the market because they're rare and it's not like growth and scale solve everything but geez they solve a lot of things I've yet to see it's got you know you go way back on this I'm sure you had these comments like Amazon will never turn a profit my first year on the street. [19:04] There's a person who's not one of the most influential investors out there put his finger in my chest. And said you know Amazon will never be profitable and you know I guess he must have been writing he was so smart but he was wrong because he didn't realize just what how powerful Amazon could be as it's scaled over time I mean you generate billions and billions in revenue and you can you can run over a lot of your fixed costs as long as you're not selling dollars for 95 cents you know if you're you know if you're selling them for a dollar and two cents and then you get scale against your fixed cost yeah scale will solve just about anything and I look at what happened with Amazon and I've looked at more much more recently its bring it up to up to date to Uber Uber just printed its first free cash flow quarter ever even though it's Rideshare businesses like down 40% since Pre-K covid levels how the heck did they do that because it took a lot of costs out of the business and then they had this delivery business that really scaled so look earnings matter it's just that when we look at tech stocks and growth stocks you know especially early on is IPOs they rarely go public. As profitable businesses the question you have to answer yourself is can they be profitable long-term are there companies that are already you know similar business models that are already are that's one way or their segments of the business that are already profitable. [20:19] Is there a reason that scale can't drive profitability for the company and the fourth what I call profitability Action question that detail this in a book is yo Are there specific steps steps that the management team can take to bring the product the company to profitability so I've yet to see a company. [20:36] And I'm sure there are some but I've yet to see one that hit the public markets that couldn't scale itself to profitability now some blew up. Well you know that's because they couldn't hit the enough scale so that's that's kind of my answer to the question of yes of course earnings and free cash flow matter at the end of the day that's what they're going to be valued on but just watch these companies that they really execute well they can take what looks like really aggressive valuations and overtime those valuations can turn awfully awfully attractive and a lot of times the stock wealth creation goes from point A to point B it doesn't start at point B. Jason: [21:10] Yeah the you know it's you mentioned then the Netflix. Effect on the cultural zygous fun fun stat on Queen's gamut it drove the sale of millions of chessboard and caused hundreds of people to start playing chess. I do one of the things that comes out strongest in in the book to me and that you alluded to upfront is sort of the difference between trading and investing. You know I always have people come up to me and they're like hey you know a lot about these retail companies what's a good investment and I'm like. I have no idea can you can you talk a little bit about sort of what you mean by sort of fundamental investing versus trading. Mark: [21:56] Well I sum it all up in the pithy expression don't play quarters I find playing quarters is almost a Fool's game the number of times I get questions you know what should I buy for the quarter and for little sophisticated institutional investors that could be I've got a position in. [22:15] Amazon or Google or Twitter and you know do I should I be you know heading into the position prior to earnings or you know facing back and adding to it more afterwards okay that's a different setup but if you're just playing a company for that quarter pop the problem is quarterly earnings reactions there's two things that drive them. Fundamentals great get the fundamentals right that it's expectations so the quarter trades are really about expectations you may get the quarter right you may be right that Nvidia or Roblox are going to have super strong quarters because I see how many of my friends kids are all over Roblox you maybe well right on that but you have to know you know what the market is actually expecting and numbers can go Revenue can accelerate but if the bar is higher than that then you're going to see these stocks trade off it happens a lot so I just unless you're unless you're a pro less you're in day in and day out. You know working working these stocks and really have a sense of where the expectations are. I think it's just a Fool's game to play play stocks just four quarters instead you know you want to stick with stocks for the you know you want to find an asset that you think is going to be. [23:29] Materially bigger in two to three years down the road and you think it's high quality based on some of the screens I threw out then stick with that name and don't try to play around the quarters and it's in fact sometimes you can use weakness or strength around the quarter to adjust your position but don't use it too initiator close out a position at the then you fall trap to these expectations game that is very hard to participate in if you're just a regular you know retail investor and you can make just as much money just staying invested in some of these great assets. Jason: [23:59] That is great advice and it's I certainly resonate with the sticking with the Investments I am curious though on the other end of that on the really long Horizon you mentioned you've you've been had a buy on Amazon for like 15 years. Wait. Like are you going to have a buying them for the next 15 years is that how I mean like does there come a point when they achieve their potential and you have to start worrying about them getting on the other side of the Hill. Mark: [24:26] Yeah I think you can I think you can one look for the fundamental towel and so I'm going to I'm going to spin over to another stock I talked about in the book Priceline. Which is actually the single best performing S&P 500 stock for like a 10 year period 2005 to 2015 phenomenal stock travel name everybody knows it William Shatner excetera although they're real secret sauce with what they did in European markets but. But that's a company that you know sustained premium growth like they were growing their bookings in the revenue 40 percent year over year for years and years and years and years and that's what powered that that that stock and when it stopped materially ah performed Market was when the growth rate decelerate it below 20%. [25:10] And so I don't want to you know create a hard and fast rule but I do feel strongly about this twenty percent rule 20 percent you know we're close to it you know don't don't Nick me at 19.8% you know could close to twenty percent is unusual rare growth. [25:23] And the markets usually pay up for that and when you see a company over time either because of Miss execution it happens or Market maturity and their growth rates you know kind of slide below 20% then that's when you reconsider your position that's a simplistic rule as a lot of caveats to that when I see with Amazon here is despite the size of this business I think they're still growing 20% for the next five years so in that if that's the case. [25:48] You know the simple rule of thumb is companies that can grow like. They can I like to see stocks that can double in in three years in order to do that you kind of have to do you know 20 to 25 percent earnings growth that's what a Maps out too. And you know you can double a stock in 3 years your handily beating the market in almost all time periods. And so when I see what it'll change my opinion really on Amazon is if I believe that this company is going to go X growth it's going to go you know well below 20 percent Revenue growth I just don't see that in the next couple of years given how much growth they have in retail in NE ws and cloud computing and in some of these really newer areas that I'm really interested in whether they really can crack the code on groceries and they can that's a large opportunity and business supplies Industrial Supplies I think that's a very underappreciated part of Amazon's business so I don't see myself changing my opinion on Amazon although you don't want things that we talked about this earlier that I love to see your founder LED companies that's no longer the case with with Amazon so that's you know at some level I've got slightly less conviction than the in the by case but I'm going to stick with it as long as the numbers prove out right and long as I can see this path that's consistent 20% Revenue. Scot: [26:59] Yeah and this is kind of breaking out of the book thing but since you brought up Amazon it wouldn't be a Jason Scott show if we didn't kind of double click on that what did any thoughts on the Q2 and Q3 earnings feels like they're slowing down a bit and feeling some of the labor and see what we call Supply pain on the show are you are you getting nervous about it or you think it's just a little one of their little kind of investment phases. Mark: [27:23] I called the six billion dollar kitchen sink that's how much lower their guidance was for operating income in the December quarter then then what the street was looking for like she was looking for close to eight billion and they guided to billions six billion dollar kitchen sink and they threw it all in there wage inflation you know you right you drive that route 95 on the east coast and you'll see Amazon Amazon is hiring Billboards up and down the East Coast Seaboard I did it recently so yeah they're aggressively hiring at higher wages that's impacting their margins there still some covid related cost shipping they're just not able to a sufficiently source and bring in product and so they have to bring in product into the the ports that aren't optimized for their distribution Network so just a lot of. [28:14] Positive blowing up now the question you have to ask yourself as an investor is are those are those cost increases elective structural discretionary temporary it's kind of like which of those are they the more that you can make a determination that the cost bikes are temporary the more you stick with the name if you think there's something structurally changed about Amazon okay that's different I don't think there's anything structurally changed about Amazon and certainly not its competitive position and then the last thing what I really like to see. [28:44] Frankly is this company. I mean the level of investment this company is making its distribution Network you know you talked about Facebook earlier they're dumping 10 billion into the metaverse which I think there's a there there but I don't know Amazon is dumping billions and billions into its own Logistics Network like they're doubling down on their core competency you bet I'll stick with that and what they're going to what's going to come out of that is even faster and faster delivery and they're going to prove out this concept what I call shipping elasticity the faster you ship the more that people are going to use you in a more of their of the more of their wallet and per-share you're going to Amazon's going to get so we're going to actually going to Super up one day delivery and then they're going to Super up super same day delivery and I think they'll be able to just grab more and more and offer more and more products to people so I like those kind of investment initiatives so I think a lot of that margin pressure by the way it was really due to these kind of elective investments in the infrastructure they added more distribution capacity the last two years than Walmart has in its history. That's how aggressive Amazon is being an eye you know my guess is that third we're going to see dramatic market share gains from Amazon in the next 12 months so I like those companies that kind of really lean in bendin and the double down on our core competency that's what the Amazon is doing now. Scot: [30:00] Yeah. The Press is making a lot of noise around Shopify versus Amazon and Shopify is kind of amplifying that with they're arming the rebels and everything. Jason Connor makes our I won't say his thing but he's not a believer in that I think it's kind of interesting in there's definitely no love lost between the company's what what's your take on that is that a real battle or is that just kind of genda by to kind of raise awareness for Shopify. Mark: [30:26] You have a quick point of view on that Scott. Scot: [30:29] I think Shopify becomes a Marketplace adjacent thinks that's crazy Jason what do you what I'll let you state your own opinion. Jason: [30:38] Yeah I mean I think Shopify is a phenomenal company and a good executor so I'm not throwing rocks at Shopify. They're to me they're not a competitor to Amazon they don't acquire customers they have no traffic there there. Piece of infrastructure and a great valuable piece of infrastructure but a piece of infrastructure. Doesn't draw any customers in so I call these people that are like oh man they're like Amazon they have all this aggregated gmv and they could sell ads to it and they can you know recruit more sellers because they have this this audience and all these things will they don't have any of those things they don't have a single b2c marketer. In their company and I would argue that's that's been one of Amazon's Court competencies is they've they use the flywheel to build this this huge audience that they get to sell all the. Their goods and services to so I just I don't think. They compete in any in any meaningful way and I think if Shopify were to try to become a true b2c company like Amazon. It would just be a phenomenal pivot it would be you know. Can't you know obviously they have the resources to fund trying for it but I'm not sure that's the best move for them. Mark: [31:57] Yeah I don't so I Do cover Shopify I've been really impressed with them I don't know them as well as I know Amazon but I've been super impressed. With them and terms of the product development and they are just providing more and more services to small Merchants so I think there's an are now bigger than eBay in terms of GM vo but I can never there's not enough disclosure to figure out so where's that GM D coming because I think some of that probably does come through eBay so a little bit of double counting that goes on in there but it's really impressive what they've pulled together whether they can actually aggregate demand in a way that Amazon has I think that's I think that's unlikely I think that's a very hard thing to do it's possible they do have a shop app I just, yeah I guess that's the action question we often ask ourselves do you think you're going to use the shop app to shop. [32:45] I don't think so I don't think people are going to do that but you know if they can get enough people to do that boy they will have really they will have some really circled it that you know because they got the infrastructure okay they're talking about building out fulfillment and doing fulfillment for people and spending a billion dollars on it sorry my friends you're gonna have to spend a heck of a lot more than a billion if you if you really want to you know compete. Because the bar is getting higher it's not getting lower it's getting higher in terms of funeral the speed of delivery eBay learn this the hard way and so shockfights Memphis spend a lot more than that so anyway there's a lot of wonderful things about Shopify and I don't know whether if you listening to slammed on by if you think they can build up an aggregate an audience I don't think they can so does it make doesn't make it a slam dunk by it's it's you know it's a deep three point shot put it that way. And you're not Steph Curry. Jason: [33:41] I think we're going back to the basketball references in the book. Yeah it you know I tend to agree I'm not I don't think the shop app you know has attracted an audience that uses it for shopping yet it's a shipping trapping tracking app at the moment. But the it is funny like there are lots of companies that facilitate huge amounts of gmv so I think of like. Excuse me and Akamai is a. Is a CDN that's that used by almost every retailer to help help sell stuff right and so if you said well what's the CD the gmv of Akamai well it's bigger than Amazons. Um but that doesn't mean that Akamai can compete with Amazon so yeah I don't know. [34:28] I do want to go back to Amazon earnings just briefly because I you know I think a lot of the Slowdown is kind of a covid blip and I don't know if you ever think of it this way but. They're there their times in history when. It feels like the external factors aren't a big influence and and you know some companies perform really well and other companies struggle so you know there could be a year when you see Home Depot doing really well and lows struggling and you say. There's something special about Home Depot that I might be interested in investing in at the moment it feels like the external environment for retail is having a. [35:07] Sort of a consistent effect on everyone right and so you look at the industry average is you look at all of them is on Spears and they all have sort of the same shape of deceleration. That Amazon has so it's to me it's hard to attribute that to some. Some fundamental flaw in Amazon but there is one thing I noticed this quarter that it was interesting and I wanted to get your opinion about because I know as an investor you like seeing companies that have pricing power. And you know of course Amazon famously raise the price of prime a while back and seems like that was wildly successful this quarter. They've raised the price for grocery delivery there now charging ten dollar delivery fees even for Prime members. And then this week we saw that they made a pretty substantial increase to the cost of f ba which is you know the fundamental service used by almost all marketplace hours and they they just raise the price of that by like five percent and I'm curious do you look at that as a good sign that hey. They have pricing power and they're doing so well that they can command those prices or to me it's a potential warning sign because I feel like Amazon is so. Zealous an advocate of the flywheel in the flywheel is all about driving costs down to get scale up I just was surprised to see some of these like price increases in in you know. Especially grocery which isn't super mature yet. Mark: [36:33] Well I'm not sure really of the answer to your question Jason it's a it's a it's a really good thoughtful question on the on the groceries I think they raised it because the unit economics were just not working for them in terms of grocery delivery that's that's my guess they also you know yet to have that get to really crack the code on the grocery business and so I sort of see that as they tried it and it just can't right size the economics of they got to charge more for it so I read that kind of negatively what did the raising fees to sellers. But my guess is it's a mixture of things but it's largely driven that my guess is that this largely driven off of Just Rising. [37:17] You know Rising infrastructure costs have been rising shipping costs I mean Rising the two costs that they called out specifically on the earnings call my recall is correct is our steel costs because of all of that dish construction they're doing with their fulfillment centers and trucking services and so my guess is that they've they're doing is not necessarily the right size the economics is I think the economics are working but because they want to try to keep their unit economics relatively intact. And that's sort of the way I think they thought about the raising the price of prime it wasn't they did it because they could. It's they did because they sort of had to like the costs are rising it's just that what I found interesting in terms of pricing power is van acceleration in in Prime ads you know post that price increase like that and so does Netflix to me Netflix is essentially raise fees use the fees to you know generate more Revenue by more content is like a flywheel that they've worked with their make the service more bringing more users allows them to get a little bit raised money just a little bit more so it's not so much raising fees to extract excess profits it's raising fees to further accelerate growth and the value proposition is strong enough that they can do that and not lose customers that's that's that that there's this is subtle nuance and maybe it's too salty but but I think it's an important it's important difference it's not it's no it's raising pricing not to raise margins it's raising pricing to fuel growth. [38:46] And when you so either way it's good I happen to think you you want to the the better one is the latter one is a more impressive the latter one is more impressive because you're raising pricing just to Goose your margins you know you just put a Target on your back. Scot: [39:03] Reading the book made me nostalgic and maybe we'll do a little bit of a lightning round but one of the companies you wrote about that I kind of forgot about and those interesting was Zulily I remember when they came on the scene and we were all like. They were all blown away by how fast they could just get product up right they had this thing where they could. They could have most of those kids so they'd get like all these little kid models in there and throw some clothes on them take a picture and then like changed outfit take another so they could do something like you know thousand different products an hour or something. What's your recollection on Zulily. Mark: [39:40] She really is that was one of my calls that didn't work and. So I and I learned some lessons from that I think to me the lesson I drew a to do with value proposition they had wonderful cohort disclosure in their S1 when they went public I mean it was truly impressive. And you know the they also raise kind of an analytical question because the first it's not too dissimilar to stitch fix today the first three or four million customers were extremely happy the question is. Were there another three to four million customers that could be extremely happy and the problem that Zulily faced is that it customer value proposition had one major flaw which is that you couldn't return product if you didn't like it they didn't they didn't accept returns oh I'm sorry there were two problems and there was no Speedy Delivery you know you could get stuff in seven days and 20 days. That was good for the first day of the first three to four million customers who are fine with that you break into the mainstream and you mean I can't return something if I don't like it you mean I gotta wait how many days until I get something like that ended up. [40:45] And it was very hard being the survey you really had to go with gut instinct on that to realize in advance that they were going to hit a wall in their growth. Geez when you saw what happened to their growth rate when they went public it was Triple digits six quarters later they were doing 10 percent Revenue growth they hit the wall because the value proposition. Wasn't strong enough and then they end up going going private that to me was kind of a lesson which is you know the. [41:10] Growth was impressive but that value proposition if it's not if they hadn't they didn't have it nailed down and you knew from the beginning I knew from the beginning what the two Falls were I just I didn't know when it would hit them and hit them earlier than I thought so you know it gives us another reason to really focus on how compelling do you think this value proposition is how many you know will that can the can a customer base double given the existing value prop. And that's one of the big lessons if I spin it a little bit I mean that's to me is and Scott you look through this entire history like you know the first decade of the internet the king of online retail wasn't Amazon it was eBay and they had like six times seven times the market cap of Amazon that's completely changed and why is it change and I think in part it's because of the value prop I mean Amazon just beat him on price selection and convenience year in and year out and that really mattered but a more recent example in my book. [42:02] In literally and figuratively is doordash and GrubHub and that's example many people will will know but grub have that great business model wonderful investor Centric business model High margins and doordash had this you know generating tons of losses but they had the better value prop because they had more restaurants selection and the end of the day that they want and they were able to scale up and generate serve reasonable profits over time that was the case where my quick tag line is you know customer-centric companies. Beat investor Centric companies most of the time in market cap and market share Amazon versus eBay, GrubHub versus doordash those two examples really drilled that less than to me. Jason: [42:48] Yeah I've been fighting those companies because you know there. They're like increasingly overlapping with a lot of my Commerce clients and like you know a big. A big sort of disruption and commerce right now is all these ultra-fast delivery services and you know it seems pretty clear that doordash and Uber are both gonna want to play directly in that space so it seems like some of those those sectors are on a collision course to chase that Tam. Mark: [43:15] I think you're right Jason I also think Amazon I mean you're talking about logistics like that's Amazon's competency so whether you need to. Whether you're going to vertically integrate and do that or whether you going to do that virtually you know Foo you know a gig economy Network. I don't know which which is going to work better long-term but yeah and you know it's going to raise the bar and make it more and more expensive for anybody to operate in that in that segment I have a bias that Amazon in the end wins that but it's big enough of a market it's so early stage that you can have multiple winners for the next five years I don't know that you can have multiple winners for the next 10 years. Jason: [43:56] Yeah there was a funny question in the Amazon earnings call someone asked about ultra-fast delivery in the CFO kind of I thought brilliantly threw some shade on it he's like. He said something to the effect of we like where we are and ultrafast like we have one hour delivery on about 178,000 skews right now and we're you know we're going to continue to scale that and I don't know how many people follow this but all of the competitors in this space are are desperately trying to figure out how to do one hour delivery for like 7000 skus. So so like they're you know they definitely are gonna be able to leverage the infrastructure there and I'm sure they're making some big investments in that space too. Another area that's that's been kind of interesting lately and I know you've been following this little bit is obviously there are all these privacy changes and the depreciation of the third-party cookies and especially the IDF a you know mobile privacy changes. That Apple has instituted and that obviously had a pretty pronounced impact on the value of some companies like Snap recently A View you have a opinion there is that. Is that a blip or is that a systemic change. Mark: [45:08] I think it's a big pothole in the road. But it's not there but the but the it's a big pothole in the road but it's not a bridge that it's not a collapsed bridge that get that mountain out. Yeah so poor that hey yes. Yes it is yeah that's it that's pretty I mean that's a big pothole that idea Fay allowed Facebook to offer amazing attribution to millions and millions and millions of businesses and now that's gone and and and to their credit to Facebook's credit they warned about it for a year two snaps discredit they didn't warn about it ever and so that's why their stock went off you know 22 decline 25 percent whereas Facebook stock even the numbers came in weaker than expected you know kind of fell off to the 3% and by the way then is traded up above where it was at earnings time so what I mean very intrigued by is I think it will be a son of that idea of a. [46:12] You know child of idea say I like I think there's so much at stake here both from the advertising platforms like Facebook you know and Google's to some extent a little bit and Snapchat but also for you know the millions of marketers out there who you don't you were able to thank thanks to Facebook use of people's privacy data you know from right or wrong I mean that's what that's what they they did I mean this help Merchants really know which of their campaigns worked and allow them to you know run creative and that creative could be automatically you know a be tested abcdefgh like 8 times 8 different ways in which ever those creatives work best. You could actually beat successful one of them then you can just pivot all of the dollars behind that one campaign you know campaign h for campaign be your campaign e.e. and that's just a wonderful way to help these small businesses you know really succeed and that's been taken away now you know there's I think there's first a little bit of shock shoot I can't get the attribution I had I'm going to pull a my marketing dollars but marketers got a market. [47:13] And I think you're going to see those dollars come back and my guess is that Facebook and other companies are going to find some way to do. Better targeting they may not quite get to idea that a type of levels but they were going to be able to do some sort of audience targeting they also have a lot of first-party data but they'll be able to do it in a way that doesn't that you know respect people's privacy and yeah you'll see those dollars come back so that's why I referred to as a pothole I it's a big pothole it's but it's not that it's not a bridge that just collapsed you know you're going to be you can they can they got stuck in that pothole more than anybody else but you know the cranes there whatever they're getting a tow trucks they're they're getting out of it they got to do some nobody work they'll fix the car and it'll be back on the road in part because they've got the talent to do it but in part because there are millions of small businesses that are given to going to give them the incentive to do it because they'll get those marketing dollars back once they figure out some of the idea that a. Jason: [48:09] Yeah I always like to remind people that are like The Skys Falling on the advertising industry that you know. It wasn't very long ago that we had much worse targeting than than we have in digital even with idea of a I mean targeting used to be deciding which publication you were going to print your ad in. And they still got a lot of money in the advertising industry so like I kind of suspect that that marketers are going to figure out you know the best ways to invest their money even if it maybe isn't quite as. As real-time as people got used to for a short while. Mark: [48:42] I think you're right Jason. Scot: [48:45] So Mark you in the book you recap kind of this awesome 25-year career and you know one of the things I've learned is if you're in the game of making predictions you know that it's kind of humbling but then you kind of slowly but surely get better at it right you never get to kind of you know a hundred percent but over time you get better and like like for example you learned the lesson of. The companies that are customer focused to do better than investor focused think founder based in that kind of as you as you take those backward 25-year learnings and project them forward what are some of the things that you get excited about looking out the next five or ten years. Mark: [49:23] Well in terms of Trends even the next year or two I think whoever solves. Marketing attribution is going to be worth a lot more in two years than they are today just because there's so many businesses so many marketers that will pay for that. So I you know so that's that's kind of a debt that whoever whoever fills in the pothole that's going to be a very valuable company it's going to be a lot more valuable to years and it is today my guess is that there's gonna be Facebook so I'm interested in that then there's thing this thing called The Medic verse which I don't know this is just virtual reality just renamed do a Google Trends search on metaverse just watch that just spiked up in the last love so you know you kudos to the person who came up with that idea may be excited maybe Jason or Scott maybe was you I. Jason: [50:09] It's just a rebranded second life. Mark: [50:12] Okay and. But but you know the fact that it was two things that kind of struck me there's some pretty big companies throwing a lot of big money at metaverse you know Facebook Microsoft there's a bunch of others and then there's this Roblox generation people young people who are perfectly comfortable living in the meta verse in virtual reality and. [50:38] You know participating in concerts safely and you know and shopping and communicating and entertaining and learning. [50:49] And learning through the metaverse and so you know we knows 8 18 year olds you know get out into the real world you know they're going to be perfectly comfortable in the meadow verse maybe not the way you know not the way that we will naturally be but you know though they'll help us figure it out and so so I'm really intrigued by the metaverse I think it is going to take 5 to 10 years because that to really develop and I'm trying to trying to figure it out who the big winners are but but I'm very intrigued by that. [51:18] Yeah I'm also got one of those oculist you know I've gotten two different versions Generations the it's the iterations of the Oculus Rift and you know i-i've always it's kind of like when I first saw the Kindle you know the first Kindle I ever got was pretty darn kludgy but you know I just love the idea that you could just download any book on the your kludgy device will you know whenever you whenever you were in a Wi-Fi area and and I and you and you just saw how that device got better and better each iteration and so I just think about that with these with these virtual reality headsets I mean they're clumpy their clunky their kludgy it's kind of embarrassing to be have a picture of you taking them but you know just you can imagine already know how much they've improved over the last couple of years and just think ahead is it possible the next five to seven years it's going to be just it's going to be like putting on a pair of sunglasses I think that's what we should be thinking about if you can easily put on a pair of sunglasses and and enter the metaverse and have you know share a virtual you know in presence experience that sounds but that sounds odd or not but you can do that, I think a lot of people will do that and you know the education the work applications around that so I'm very intrigued by that. Jason: [52:28] So you're saying that that could be chewy.com to Google Glasses pets.com. Mark: [52:36] Yes yes I love that yes I hadn't thought about that way yeah and by the way I've got my Google Glass here you know I'm. Got that I got that early version I got the Amazon Fire Phone you know but just be the the early failures sometimes see these I mean they're kind of in the right direction I don't know exactly what there's a there's a backstory to Google Glass that we only partially know but anyway they have the concept is there and and you know the big iterations that these products do get better and as they get better easier cheaper lighter cooler you know like Main Street cooler not Silicon Valley cooler then then markets can appear. Scot: [53:17] I think that's something the three of us have in common I think the three of us are probably the only people that ordered and probably still own an Amazon Fire Phone. Jeff Ellis. Mark: [53:29] And I've Got My Socks.com puppet to it's in my office I put the hits I got it as a warning. Scot: [53:31] I have one of those too yeah we all I guess we all have one of those too. Jason: [53:36] That that puppet ended up being the most valuable asset from pets.com sidenote like I don't know if you followed it but there was there was there was a whole intellectual property fight with Triumph the comedy dog and all that stuff yeah. Unattended value unintended value creation. Scot: [53:53] Mark were you you know we've used up about an hour of your time we really appreciate you coming on the show to tell us about the book when's it come out where can people find it do you do you want them to order from that Seattle bookstore that we've been chatting about. Mark: [54:09] So yeah and thanks Scott Jason I've always enjoyed listening to your show I did tell you it beginning I your analysis recently all birds and Warby Parker I took the heart because I initiated Warby Parker as an analyst but I after after I've seen what your thoughts were on it. So thanks for having me on the show and to talk about the book nothing but Net 10 Timeless stock-picking lessons from one of wall Street's top Tech analyst I just like to nothing but net on a big Hoops fan. And my kids are hoops and that's been my email pack lines there's a lot of meaning for me in that that title it is available wherever fine literature is sold it is available on Amazon it's the it's a top bestseller now and in the business category so I've been I've been just it was just a it was a labor of love for me and throw like a chance to talk with both of you about it because you've lived through the sister just as much as I have and it's fascinating the lessons we can draw from. Jason: [55:01] Well Mark is been entirely our privilege and it's a great sign that you know just halfway through your career you had enough material for an amazing book so I can't wait to read the the sequel after the next half. Mark: [55:13] All right I will talk with will do it again in 25 years. Jason: [55:18] I'm booking it right now. Scot: [55:20] Bring our sock puppet are and pets.com puppets in our Amazon Fire Phone. Mark: [55:24] That's. Jason: [55:25] Yeah everyone else will be living in the metaverse at that point in no one's going to get it but it's cool. But Mark really appreciated your time and until next time happy commercing!
Creating the Etsy of Cannabis.Kyra Reed talks with Rebecca Goldberg and Abbey Weintraub-Sklar co founders of the The Artsy Leaf . Seeing a need for a safe platform for cannabis venders to sell their products, they launched the Artsy Leaf, a centralized marketplace of cannabis friendly small businesses, artisans, and creators selling to consumers looking for uniquely crafted pieces. Produced by PodConXWomen Leading in Cannabis - https://podconx.com/podcasts/women-leading-in-cannabisKyra Reed - https://podconx.com/guests/kyra-reed Rebecca Goldberg - https://podconx.com/guests/rebecca-goldbergAbbey Weintraub-Sklar - https://podconx.com/guests/abbey-weintraub-sklarThe Artsy Leaf - https://theartsyleaf.com/
Anti-racism revolutions… and more on today's CrossPolitic Daily News Brief. This is Toby Sumpter. Today is Tuesday, November 23, 2021. Find all our shows at Crosspolitic.com and download the Fight Laugh Feast App at your favorite app store so you don't miss anything. Guess who's back on Youtube? We are! Here's the goal… Youtube will still carry our live stream but after that stream is done it is going to only be on the app. we will however post clips to youtube still but the outside of the livestream if you want to catch the full show you have Rumble, The FLF app and FB. What's the Goal of Antiracism? Play Audio: When people say that Critical Race Theory is just Marxism applied to race. This is what we're talking about. Instead of reducing everything and everyone down to economic status like Mark did, between the proletariat and bourgeois, modern Marxists divide everything and everyone by race or gender or some other intersectional nonsense. But notice that this lady says: anti-racism asks for “literally” a revolution that will tear down that system. That system was built on Christian principles. Despite all the sin and evil that was still resident in it, there was a standard, an immune system slowly checking, curbing, and correcting those sinful elements. What will you get when the anti-racists are on top? What do you get when anti-racists are the oppressors? There's no standard… And just in case you think we might be a little extreme, it's what they are literally chanting in the streets of Chicago following the Rittenhouse exoneration: Play audio: 0:00-0:12 Twitter Users Suspended for Saying Rittenhouse Did Nothing Wrong After His Exoneration https://thefederalist.com/2021/11/22/twitter-suspended-me-for-saying-kyle-rittenhouse-did-nothing-wrong-after-his-acquittal/ Speaking of the Rittenhouse exoneration, Josiah Lippincott is a PhD student at Hillsdale College, a Marine veteran, and writer. In the exuberant hours after Rittenhouse's acquittal, he tweeted the phrase “Kyle Rittenhouse did nothing wrong” to his 10,000 followers. The tweet went viral, generating hundreds of retweets and thousands of likes. Only a few days earlier, Mr. Lippincott had tweeted the same thing only to have it yanked by Twitter and his account suspended. So, following the jury's verdict, Mr. Lippincott tweeted the same phrase, “Kyle Rittenhouse did nothing wrong” with a screenshot of the previous suspension from twitter. He felt vindicated and apparently thousands other twitter users agreed. However, Twitter was not having it, not even after a jury ruled that Kyle Rittenhouse was innocent of all charges. On Sunday morning, Mr. Lippincott woke up to another suspension from Twitter for insisting that Rittenhouse was in the right. The first suspension had been for 12 hours. This second suspension is for seven days. Twitter has determined that it is the Grand Arbiter of truth and justice, not the American justice system, not due process, not a jury of peers, you know those principles of justice derived from the Word of God. Which, incidentally, when you make yourself the arbiter of truth and justice, you are essentially claiming to be God. Police Officer Who was Fired for donating to Rittenhouse Fund Demands Job Back https://www.dailymail.co.uk/news/article-10222207/Virginia-cop-fired-anonymously-donating-25-Kyle-Rittenhouse-fund-demands-job-back.html In other news on the fallout of the Rittenhouse verdict: A Virginia cop who was fired for anonymously donating $25 to a Kyle Rittenhousedefense fund after being outed by hackers and the media is now demanding his job back from the woke, 'hypocrite' police chief who fired him. Speaking to DailyMail.com on Friday, as the Rittenhouse verdict came in, Norfolk Police Lieutenant William 'Bill' Kelly explained why he thought Rittenhouse deserved his help back then, and why he stands by the decision now. Kelly, a 19-year veteran and father-of-three who had moved into the internal affairs division at the time, made a $25 donation to a Give Send Go online campaign for Rittenhouse's legal team after watching social media videos and journalists' footage from the August 2020 Kenosha riots. He wrote alongside his donation: 'God Bless. Thank you for your courage. Keep your head up. You've done nothing wrong. Every rank-and-file police officer supports you.' https://www.dailymail.co.uk/news/article-10222207/Virginia-cop-fired-anonymously-donating-25-Kyle-Rittenhouse-fund-demands-job-back.html#v-2288644209685676032 Play audio: 0:14-0:39 Kelly, a self-confessed 'news junkie', saw that a GoFundMe account for Rittenhouse had been canceled, and a site called Give Send Go had set up another page for him. He logged on and donated, making sure to leave out personal details because he says he didn't want to associate himself with the police department. 'I was interested in giving him the chance to defend himself in front of a jury. I know that lawyers are expensive, and it's hard sometimes to get the message out there. I wanted to make sure that he had the means necessary to make his claim in court. 'It mattered. The comments I made, my belief that he has a strong claim for self-defense was a personal opinion. I didn't want my city or police department to be associated with it, so I chose to donate anonymously. 'It was only after the hackers broke into it that they were able to connect those dots,' he said. A hacker group called 'Distributed Denial of Secrets' obtained his name and email address from the fund and provided it to The Guardian, which published a story including his name. The Daily Dot followed. Within a day of it coming out, the Norfolk Police Department was receiving widespread calls to fire Kelly from all over the world. 'It wasn't people local, it was people from all around the country who read an article and sent a nasty tweet. In the absence of that outcry, there would not have been any kind of disciplinary action against me, I'm confident,' he said. The city decided that the comments 'eroded' the public's trust in the police and Kelly was fired in April. He has since filed a grievance, but the process is ongoing and in the meantime, he's had to survive on his savings. He says the only reason he was fired was because he supported the teenager. 'If I had a different opinion and I donated to a fund for the victims and made comments about how Mr. Rittenhouse was a murderer, nobody would have cared or tried to get me fired.' In his grievance, he points to the fact that the police chief Larry Boone attended a BLM protest in May last year in full uniform, while on duty. In the photo, Boone is holding a sign that reads Black Lives Matter, with the names of people who have been shot by cops - including some in Norfolk - around it. 'The hypocrisy is dumbfounding. For the leader of our organization to be able to advocate support for a movement that is at the very least divisive in America today, in uniform while on duty... he was holding carried the name of a person who had recently been shot by a Norfolk police officer. 'The sign demanded justice for that person, but that shooting was still under investigation to determine whether or not that officer should be charged criminally. It's very inconsistent. Jonah Goldberg and Chris Hayes Leaving Fox over Tucker Carlson January 6 Doc https://thedispatch.com/p/why-we-are-leaving-fox-news?fbclid=IwAR0swf7Gg8vVO8xeHsUYi67w0JtZmwV8Pfpvscb47Wr_SAz56eL_ckZmMMk Jonah Goldberg and Chris Hayes announced that they are leaving Fox News over the weekend. But the voices of the responsible are being drowned out by the irresponsible. A case in point: Patriot Purge, a three-part series hosted by Tucker Carlson. The special—which ran on Fox's subscription streaming service earlier this month and was promoted on Fox News—is presented in the style of an exposé, a hard-hitting piece of investigative journalism. In reality, it is a collection of incoherent conspiracy-mongering, riddled with factual inaccuracies, half-truths, deceptive imagery, and damning omissions. And its message is clear: The U.S. government is targeting patriotic Americans in the same manner —and with the same tools—that it used to target al Qaeda. Trailer for Tucker Carlson's Patriot Purge 0:27-1:06 Under the audio, there, are images of people being water-boarded, Afghanistan operations as well as images from the January 6 extravaganza. Hayes and Goldberg write: “This is not happening. And we think it's dangerous to pretend it is. If a person with such a platform shares such misinformation loud enough and long enough, there are Americans who will believe—and act upon—it. This isn't theoretical. This is what actually happened on January 6, 2021. Over the past five years, some of Fox's top opinion hosts amplified the false claims and bizarre narratives of Donald Trump or offered up their own in his service. In this sense, the release of Patriot Purge wasn't an isolated incident, it was merely the most egregious example of a longstanding trend. Patriot Purge creates an alternative history of January 6, contradicted not just by common sense, not just by the testimony and on-the-record statements of many participants, but by the reporting of the news division of Fox News itself.” While I really appreciated Goldberg's Liberal Fascists, and I still recommend it to you heartily, I'm beginning to wonder if Goldberg is one of those academics who can only spot the enemy safely behind the glass of several decades. This is the problem with many academics. They can do plenty of good historical work and careful analysis from the distance of time, but they cannot see clearly enough when the battle is right in front of them. And do not misunderstand me. I'm not endorsing the Tucker Carlson documentary. I haven't seen it. But I find it utterly baffling to completely dismiss it as “a collection of incoherent conspiracy-mongering.” And if they are so sure that it is, could they at least be so kind as to point us to some of easy-peasy explainers we could send to our grandmothers? There absolutely is surface plausibility to the thought that in the eyes of the Left, conservative Christians are the new target. Merrick Garland's designation of parents protesting at school board meetings as domestic terrorists is not conspiracy mongering. Also, even if there's no united conspiracy, Christians know that the spirit of the age, the spirit of unbelief hates God, hates the truth, and loves violence, and that spirit is at work. It need not be in a central office in Buffalo. And I have no problem with anyone pointing out facts or narratives that Tucker has gotten wrong. Let the truth out. Psalm of the Day: Psalm 2 Play: 0:00- Why do the heathen nations vainly rage? What prideful schemes are they in vain devising? Now serve the Lord with fear and gladness trembling And all ye kings seek wisdom here How blest are those who trust without desembling Who kiss the Son and bow in reverent fear. Amen! Remember you can always find the links to our news stories and these psalms at crosspolitic dot com – just click on the daily news brief and follow the links. This is Toby Sumpter with Crosspolitic News. A reminder: Support Rowdy Christian media, and share this show or become a Fight Laugh Feast Club Member. For a limited time, we're offering a Christmas Man Box for new subscribers at the Silver level and above, and if you're already a club member, you can purchase the CrossPolitic Christmas Man Box for just $50 while supplies last. Remember if you didn't make it to the Fight Laugh Feast Conferences, club members have access to all the talks from Douglas Wilson, Joe Boot, Jeff Durbin, Glenn Sunshine, Nate Wilson, David Bahnsen, Voddie Baucham, Ben Merkle, and many more. Join today and have a great day.
On today's Breitbart News Daily podcast, Alex reports the details of the truck ramming at a Christmas parade attack in Waukesha, WI that resulted in dozens of casualties. Then, the establishment media reacts to the end of the Kyle Rittenhouse trial with near-universal condemnation - not only of the verdict, but of the supposed white-supremacist justice system. But are they actually being honest in their critiques? (Spoiler alert: NO!) Also, inflation continues to hurt people at the gas pump, the dinner table, and pretty much elsewhere else, while Never Trumpers Jonah Goldberg and Stephen Hayes are out at FOX News, and Enes Kanter dunks on LeBron James - who then dunks on himself. In today's interview, Charlie Hurt analyzes the establishment Republicans' cave to Pres. Biden on the infrastructure bill and the media's most pathetic Kyle Rittenhouse narratives. Lastly, for our caller of the day, John in Georgia says that even though Rittenhouse had a right to defend himself we should think a second time before branding him a hero.
EP280 - Anker Innovations Head of Global Communications Eric Villines Eric Villines is the Global Head of Communications for Anker Innovations. Anker is one of the most successful brands to be started on the Amazon platform. In this broad ranging interview, we discuss the origin story of Anker, their evolution from early Amazon FBA seller to Global Omni-channel brand. Eric covers their incubator, Anker Innovation, and their Amazon FBA consulting service OceanWing. We also discuss his recent book, Get Funded!: The Startup Entrepreneur's Guide to Seriously Successful Fundraising. Episode 280 of the Jason & Scot show was recorded on Wednesday. November 17th, 2021. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:00] Welcome to the Jason and Scot show this is episode 280 being recorded on Wednesday November 17th 2021 I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scot Wingo. Scot: [0:15] Hey Jason and welcome back Jason Scott show listeners Jason is a fellow Gadget addict one of our favorite brands that we love from consumer perspective is Anchor and then we also spend a lot of time here on the show talking about anchor because it's a very interesting brand that is one of the few that we call kind of digitally native Amazon born so today on the show we are very excited to welcome Eric villines he is the head of Global Communications at anchor and is based out of Sunny Seattle Eric welcome to the show. Eric: [0:50] Thanks for having me we've also been having about two months of rain so we're living up to our our cliche. Jason: [0:59] That for the last two months that might have sounded bad but being here in Chicago I have a feeling that rain is about to start looking pretty good to me. Eric: [1:07] Yeah means known cold and wind. Jason: [1:09] Exactly all of the above although it's been pretty mild so far. Eric before we jump into all the anchor discussions we always like to get sort of a brief background about our guests and maybe you could tell us what your role is an anchor. Eric: [1:25] Sure so I run Global Communications at anchor Innovations which is essentially a fancy way of saying public relations. Which in time it's sort of corporate Communications you could be crisis Corporate social responsibility and then obviously the most exciting part of what I do which would be product PR dealing with the media on reviews and, I'm getting the word out of on the cool gadgets we. Jason: [1:51] That's awesome so does that mean you have one of everything. Eric: [1:55] I have two of everything. It's a funny story I've worked in consumer electronics for a long time and I remember Steven Yang who hired me personally for the role, I remember I was in China and I said I want to make sure that I've got budget to give everyone on my team, you know one of the products and he giggled and I'm absolutely serious, we all have to you know live it and breathe it and love it and know the good and the bad aspects of all of our products because we're talking with the media all the time so I kind of. I'm kind of insistent that everyone on my team has the products and then the other part is we all we can never run out of battery that's like that's like a major faux pas here, if I ever hear the words even coming out of my own mouth that my phone is almost out of juice that's super bad as a charging company. Jason: [2:45] That does seem off brand I am I have a little bit of a fetish for your products and the thing I've noticed is every time I have a family gathering I get completely cleaned out. Eric: [2:57] Oh yeah there is. Jason: [2:58] So I yeah I didn't realize you were in such a replenishment category but it's ended up being one for me. Eric: [3:04] It's funny because I started out an entertainment before I came into consumer electronics and one of the first things I did here because I'm just using my own family Dynamics as I have three children. And my wife of course is involved in this as well and we steal each other's cables constantly and then we lie to each other, about you know and it's gotten so bad that people take you know colored Sharpies and all sorts of things but we had done a survey, on you know what are some of the most irritating things that happen in the family and this came in like is a top four. People stealing each other's charging components and then lying about it so it's a national issue that we just haven't spent enough time talking about. Jason: [3:48] Yeah we'll have to dedicate a whole nother show to solving that problem one last product related question do you have a favorite anchor products. Eric: [3:57] Well gosh I so we have these new cables that you said fetish I don't want to take it too far but it's. It's the material that's made out of is reminds me of certain things and that Dominion but it's a super soft latex like, cable that seems to never because of the material it seems to never not up. And that's one of my favorite things and they come in all these super cool colors and that's really new for us we've always offered two colors a beautiful white and the Beautiful Black Version, and so this year we started getting into more colors and that's been really exciting because that's a really easy way to distinguish your product from say your son's because you can have different colors but the material it's really nice I keep them in my bag I've got him for all my products. Those are really cool we launched a new line of Mag go products which we have a desk version which allows you to, put your phone against and it'll you know magnetically charged it but the battery is removable so you can actually bring it with you, so it serves two purposes and I keep that like in the kitchen so when I'm cooking and I have my recipes but then I can grab it and go. So those are really cool but I mean man we launch new products every day so you ask me next week I'm going to tell you something completely different. Scot: [5:23] Yeah this is an unsolicited but my favorite is there's a little Hub you guys have for the Macbook so I can just plug in one USB C and I've got this thing I'm looking at it now it looks like a mutated octopus with with 800 things, poking out of it that I no longer have to plug into my MacBook so you're you're saving me a lot of ports which I really appreciate. Eric: [5:40] Yeah as they move to usb-c only but you still had a myriad of other things you needed to connect to it. Scot: [5:47] Yeah well now the magsafe is a now they're back yeah they decided they're giving you guys too much Martin said so now they now they have like they're like oh man when you need to add more stuff you know. Eric: [5:57] Well I've talked to a lot of pro users and they're really excited to see the HDMI cable come back it's just a you know it's a strong connection that cables is still different. And sometimes it's a huge hassle putting a hub attached to the computer and then attaching your HDMI cable and everything else to it. Scot: [6:16] Yeah absolutely especially when you're traveling and you're popping into someone else's conference room you'd never have that one little cable, so we obviously we talked a lot about anchor on the show and we can just kind of stopped fan blowing on the on the user side would love to hear kind of your view of the founding story of anchor, you know we kind of classify it as you heard is this kind of like Amazon born would love to know how you guys tell that story. Eric: [6:43] Yeah I mean it's you know I had relatives that move during the Dust Bowl and move to Pasadena and built. You know a chain of gas stations and it's this true Americana story but he what's interesting is I think Steven Yang story is very similar it is that that's story of an idea and perseverance and building and Global brand that. People have in their purses and backpacks even if they don't know it's anchor there's a strong probability that it is and that's that's one is exciting the others a branding dilemma. But Stephen was a senior engineer in California at Google and he had he was trying to find a new battery for his Toshiba laptop. [7:32] And as he was looking online including Amazon and the Toshiba websites he realized he had sort of two choices you either going to buy the one from Toshiba that was super expensive, for take a chance, on all of these other versions white-label versions and unknown brands on Amazon and and purchase one from their sort of buyer beware. And he kind of had a light bulb moment and thought you know this is this is ridiculous like who are the people that are putting these online how they've been tested how can I know that, what I'm buying is going to work with my laptop and you know give me a year of battery life. Long story short he moved back to China with his wife who was then his fiance he took a small loan from his mom. And he started anchor and in the beginning what Stephen did was go around to different factories and and Developers, and with his engineers and they went and tested all these batteries so in the beginning it was a white label play was him finding and filtering through. [8:38] I'll just say it a lot of garbage and trying to find the absolute best, alternatives to all of these laptop batteries and they started selling those through Amazon and that was the first point was the easiest place for them and selling specifically and exclusively to the United States. A year later it was a massive success beyond anything that he had ever imagined, and the next logical step was to take that concept and move it into mobility and start looking at mobile phones and chargers and portable batteries and all these things that were at the time, really starting to come out but the big difference when he went into Mobility is the idea was we need to get as fast out of, the white labeling as we can because we have some ideas that even these these smaller factories and people that were producing, can are doing that we can find ways to make it better, so that sort of unearth the world of you know contract manufacturing where they're Engineers were developing and designing, you know the specifics and then Contracting manufacturers to develop those products and the rest as they say is history. Ironically today we are celebrating our 10-year anniversary actually last month. [9:58] And that's a pretty big deal so we went from a guy and his wife. And a little mama money from his mom to a you know a multibillion-dollar company. With multiple Brands and over 3,000 employees all around the world. So in addition to charging which is still a huge huge part of our, DNA we've developed a number of Brands subsequently over the last three to four years everything from robotic vacuums and future robotic products, to home security high-end true wireless headsets. Smart Home Entertainment pet products baby socks I mean like you know smart baby socks I mean just like the whole gamut. [10:45] And the sort of the common line through all of this is that Steven and his team are constantly looking for areas within an emerging or establish consumer electronics area where they can bring value. And you know usually we might come in and the play might be okay we're going to come up with a really great product that's going to be, a little lower cost and that gets our foothold and then the the long-term strategy is then to LeapFrog over the competitors with something truly innovative. And this is kind of a phenomenon that's worked really really well. For Stephen and his engineers and the marketing teams and all of our sales people around the world. Scot: [11:28] Did he have an industrial design background hurry just had the pain and kind of cheeses and created the company from there. Eric: [11:37] Well he's a Hitman he's a True Blood engineer so I mean he's he's right at that right at the hardware level and into coding and all of that so the industrial design. Was not his core competency so bringing in people that that could fill in, those areas and ultimately well they say 10 years later we brought color right but of course then we had great devices that worked really well but we're but when we look at industrial design, I would say that you know that's what's going to propel us over the next 10 years with with the Thinker charging. Scot: [12:14] Yeah it's been the you know I really like kind of the functional but still kind of modern kind of vibe you guys have with your products it's really nice is he still with the company is you still still involved. Eric: [12:27] Yeah yeah I mean I talked to him regularly he is very approachable. It's interesting because he shares his office with two other people at the company and it's kind of this kitchen table set up he doesn't have a private office, because there's so much collaboration and you look around the company we're all like that even though I'm in Seattle, and in my office I do the same thing with my team we just take some long tables and we connect them up and everyone just sits on them because it's like jazz we're just constantly. You know coming up with ideas and talking and it's just more efficient. Jason: [13:06] I do want a Lobby by the way I feel like you have some cool colors now you have like a like a lavender and a mint but what you really need is like a retailgeek blue I think would be. Eric: [13:18] Retailgeek blue yeah. Jason: [13:20] Yeah I could send you the PMS colors at that. Eric: [13:22] Okay yeah send me the Pantone colors yeah the, yeah I mean we I would think the colors are sort of muted so they're they're a joke they don't offend anyone so they're not they're not super striking their kind of muted across the color spectrum but so far they've been. They've been received really really well there's there's an old joke and consumer electronics that people are always screaming for color. And then when you look at the sales and you find it's the white and black that sell the most. So it's like you need to have the color but in the end most people end up choosing the the kind of safer black and white. Jason: [14:05] Yeah now I actually I'll be honest the style of the colors fine and actually think they are attractive kind of pastel colors but the it's just nice to have a diversity because I actually have a system like I have one color for my USBC cables. Eric: [14:19] Mmm. Jason: [14:20] One color for my lightning cables so that I can you know quickly distinguish them in my back. Eric: [14:24] You're not messing around man. Jason: [14:27] I have a little I have a problem. So I it's funny in the early days of these kind of digitally native direct to Consumer Brands there used to be this religious battle there were companies that were like. And the path to the customer through Amazon we're going to sell this stuff on Amazon and I would characterize anchor as the poster child for the most successful brand that was born. By primarily making themselves available on Amazon and selling through Amazon's traffic. But for every company like that there was another company that's like that's crazy Amazon is going to steal your customer and knock you off and they're all these you know potential, downfalls to Amazon and you know we should own the customer ourselves and we should have our own website and so increasingly that became the Shopify contingency and so it used to be, you know a company was either an Amazon company or a Shopify company. And more recently I feel like the increasingly the answer is not or it's and that. You know the consumers on Amazon so you need to be on Amazon but you also do have consumers that want to buy direct and you should have your own website and. My proof point for that is I want to say in the last year or so anchor has launched its own Shopify site so I now can shop anchor on Amazon but also on your own direct website is that like. [15:54] Like you got did you guys have debates and conversations about that and was that a very overt decision or is it just something where you just swept up a Shopify side at some point and you really still think of yourself as an Amazon only company. Eric: [16:07] Well there's a lot to unpack I'm going to I'm going to try to I'm going to try to find the question in that statement, the first of all we started definitely start on Amazon and one of the things I would argue about Amazon is that it is direct, so whether you're selling on your website you know or you're selling on Amazon you're ultimately. [16:29] Selling direct through the Amazon platform and you're engaging with your customers and your you know you're dealing with customer service and all the things you would normally do so I think Amazon has been a great partner and it is it continues to be definitely a big part of our DNA. But as we evolved into different regions around the world you know that there are different channels, that in our sort of different stages of development but the omni-channel approach meaning, you know in our case Amazon which is always a big part of us our own website which is great for Branding and direct connection and through our Retail Partners because in the United States were sold everywhere we're sold at you know Best Buy Walmart Target, Etc you can go to medium art overseas, so we don't see ourselves as just a single Channel we definitely are see ourselves is an omni-channel but I think you know Amazon is provide us an incredible platform to launch on, the ability the ability I think for a person that has a great product looking to sell something and any part of the world where Amazon is is so convenient and so easy. [17:41] And you know the financial Commitment if you're just starting out and you're Distributing your products the platform has evolved its improved. And it's ultimately pretty easy to get going on the platform without you know a tremendous amount of financial backing. Jason: [18:02] Yep and it is interesting because you have you know been a heavy practitioner on the platform from the early days in it does feel like it's evolved a lot. From your guys's perspective do you still feel like there's a. Competitive advantage in knowing the platform better than other sellers like it feels like there's a lot of levers to pull now and I mean you know different companies with different levels of sophistication in their Amazon presents. Why does everybody learning all the best practices now and they're sort of parody or do you feel like you guys can still kind of win more than your fair share of eyeballs on Amazon. Eric: [18:38] I mean we we've been doing this for you know for 10 years now and so they're the they're the tools and there's the Instinct and then there's the the lessons learned from the billions of mistakes that we've made, along the way and I don't know those things are those things are harder to I think grass for people that are just coming into the space so I think we absolutely have an advantage, but you know I mean I think it's not magic it takes a lot of work and a lot of patience, and a lot of observation, you know if you're putting a listing on Amazon and you're putting that listing in Italy or France or the UK or whatever, you know simply Translating that listing into the local language is just the bare minimum I mean you're dealing with customer service and being able to communicate. With customers being able to deliver products on time being able to answer their questions be able to take returns and then that's you know even before you've really thought about marketing because there are. [19:44] Something like nine million sellers on Amazon right now and that is a huge ocean, just filled and filled with Fish And you are you're battling against the the those eyeballs every day. Organic search or even direct search you're going to you know if you go up and look for toothpaste I mean you know, in the search engine you're going to see a myriad of players in there including you know ones that are common Brands to others that seem interesting and what's going to draw the eyeball away from the common brand that everyone knows too, the new brand what's going to make the consumer just try and reach out a discover you and take that extra effort so everyone going on to any platform, that may deal with a bunch of Brands is dealing with you know millions of competitors and it stopped. [20:39] I think getting set up on the platform and getting started is easy but that's that's you know that's step one, but then you got to get people seeing your listings and you got to get people reading your listings and you got to get people putting stuff in their shopping cart and clicking the shopping cart and, fulfilling and then you know being there at the end of that process to give them great customer service in every language, where you're selling that product because if you can't do that and that last part is critical, you're going to get bad reviews and people don't buy products with two and sometimes even three star ratings when you're dealing with you know consumer electronics they're looking for four and five. So you could have the greatest product in the world but you could have a lot of mad consumers out there where you haven't done right by them and they're not going to give you some great star ratings and you can pretty much. You know kiss your Prosperity goodbye. Jason: [21:33] Yeah I sometimes describe it as a. A darwinian meritocracy that like you know if you think about old school if you sell a product to Walmart and they give you shelf space and you screw up and run out of stock, you lose all the sales while you're out of stock but the day you restock your back on the Shelf your kind of entitled to that that shelf position. The duration of a program but you have to earn that visibility in the front of the Amazon shelf what every minute through a wide variety of best practices and if you screw up, you fall off that shelf and when you get back in stock you don't get your spot back you got to climb back up the hill. Eric: [22:10] Yeah yeah I mean especially now in today's climate there's a lot of. Material shortages and other things and that's been you know super painful for four people across every, line of business not just consumer electronics and that very same thing you know you're working hard to develop customer base and then, you don't have the materials to produce the products or the factories that you're working with and then you can't fulfill you been all this great marketing you brought everyone to your front door and then, grab we don't have any products, and that's it's painful to see for especially you know entrepreneurs and people new to the game because they have brilliant ideas and great products and. You know they've done an amazing job building word-of-mouth and it's super sad to see that fail at that last step. Jason: [23:03] For sure that actually is a great segue we're recording this in mid-november double 11 day just happened Black Friday is next week. As we sit here I think there's something like ninety one container ships off the coast of Long Beach either a bunch of cool new anchor products like trapped in those boats what's holiday looking like for you are you guys well well stocked and well positioned. Eric: [23:30] I think we are with some things and we could be better and other things I mean again we have the advantage of having a lot of skus so we I would say it's easier for us, to adapt, then than others and you know I can say from my perspective if I go out on a media to and September and I show a lot of really cool gadgets. And then we reach the end of October and I'm like well crap so that isn't coming we're going to we're going to delay that because of something it is what it is what we're used to it. But we have so many skus that you know we were Prime day or Black Friday or Cyber Monday or just basic Christmas shopping or Hanukkah shopping we've got something, so we can adapt it will get past it. Jason: [24:23] Yeah speaking of which I given that you're in the consumer at Rackspace is CES ordinarily a big part of your marketing mix. Eric: [24:32] I would say it is I think in the new world order it isn't as important for us. But we you know we've done Big Boost and we've done stuff and you know our sales teams of gone out there I think it's wait and see. This January we've done some some interviews with with media and I think we found that maybe forty percent of those that normally attend are coming, the rest are waiting and seeing we didn't do a booth this year I've also heard from our sales team that their counterparts at some of the retailers may not be coming in January as well. So I don't know is it going to be like a bad prom or nobody dances. I think we're going to have to wait and see I think maybe for many it's going to be a real last minute decision. Jason: [25:25] Yeah it's interesting I've attended like 28 CES has and I'm not going and, talking which I used to catch a flu at CES every single year so it's the I'm not care. I think Tom Clancy wrote a book where like the terrorist likes bedspread the biological Weapon by disseminating it at CES just for. Eric: [25:47] Perfect yeah I think it's you know I think people I think you have to have a vaccination card this time around to get in I think that's what I've heard but yeah I mean from point A to Z you know your. There's a lot of airplanes. Jason: [26:02] I'm kind of curious I think less people are going to but then the magic question is. Does that kind of will they discover that the world didn't end when they didn't go and put your point like does that accelerate the changing World Order and CES becomes less important or you know is this just going to be a down year and next year they'll be back to normal I think, that's going to be interesting to watch. Eric: [26:22] Yeah I mean there's CS is just the beginning you've got Mobile World Congress you've got aoife you've got you know as we move into next year and all of them are going to have to be making those tough decisions. And then I think that the repercussions of companies that didn't go in the world didn't sink either going to be wondering you know what are these what's the value of these trade shows. To us as a business you know I think for us they're valuable you know on the one end of the communication Spectrum it's super beneficial to scale our pitching by having an enormous number of people from all around the world in ones. But it's also very noisy so you know you're competing with a lot of large names. And we've always been very Scrappy so we tend to do a lot of are moving and communication before CES. And after CES or even entirely outside of the you know the wake of any of these trade shows. So and that's that's generally how we've been successful. Scot: [27:27] Brickell any other interesting holiday Trends or anything you guys noticed as we've kind of gone through covid and or kind of hopefully coming out the back side. Eric: [27:37] Yeah I mean I you know not to sound boring but charging is always a big thing during the holidays people bought their new iPhones people are buying new MacBooks people are buying peripherals. And you know around that time usually you know a couple of weeks later when they lost their cables already or you know they realize they won't one for travel and they wanted to stay home and they want one in their home office and they want one in the kitchen, so it's always a good time for us in that category, so charging definitely the other big part of our business right now is audio so our sound Core Audio brand, we develop a super popular line of true wireless headphones the Liberty series, and one of the things that makes it unique is we work with a bunch of grammy award-winning Engineers to help us tune them, so they would come out of the box sounding like the mix that the engineers originally in planned versus over based or over traveled, that's been really really popular for us all around the world I mean as far as India hugely popular in the United States the UK Germany, Emerging Markets that's a big thing and then I'd say home security that's been a big a big Boon for us we launched our home security brand yuffie about three years ago. [28:59] And you know we're developing a lot of unique products in that space that separate us from the rest for one we don't we don't use the cloud when you buy the product at your. [29:12] All of the footage is captured on a secure SD card that's integrated either into the base station or the independent products that you put outside the house. Which is really cool and we have millions of users around the world right now, using that product because they see it not only is protecting your security but also their privacy. [29:32] You'll see a lot of people do personal gifts to themselves during the holiday so a lot of those those big, tend to be you know people in a house saying hey how about we get this for ourselves for Christmas, and and we recently launched a super-smart robotic vacuum called the X8 it's are you fee robotic vacuum. That's super smart so instead of bumping into walls and trying to figure things out at uses both Visual and Laser mapping. And will actually draw up a map of your house that you can look at on your phone, and see it's how it's found the most ingenious way of cleaning around chairs and couches and other things and making sure that it can do everything and then you can create zones, I didn't say well I just want to let stay away from the baby room because the baby's sleeping but you can clean this Zone and that zone and this Zone. That's been really popular and we had been doing kind of lower in robotic vacuums until that point. Entry level and this was one of our first push and super-premium summarize forleo some but that LeapFrog, so in the beginning we might find Our Place coming in as as a lower-cost alternative that still is super quality, and then with the X8 we're doing the LeapFrog moment and trying to jump past the competition with the technology. Scot: [30:59] Frankel, so one of the things we want to do is Pivot you guys have some other innovations that are not gadgets or charging or anything like that, you guys launched a new division that both Jason and I were excited to learn more about called ocean wing. My guess was it was drones but I think that's wrong tell you tell us more about what ocean when you. Eric: [31:24] Yeah so I say first with the title but when I first started working with anchor Innovations in the United States over four years now, I was actually working for ocean Lee that was our that was how we presented our Corporation, and the the story is that it was ocean Wing to essentially take our technology and fly across the Pacific or Atlantic Ocean and bring it to the United States. So when the idea came up of developing a Consulting business, under anchor Innovations the ocean Wing name came up again and simple it's actually makes a hell of a lot more sense for this than it may have Hazard LLC in the United States when we were bringing anchored to the United States. [32:14] But long story short we established in 2019 so we've been around awhile we have about 200 employees around the world. And the long and the short of it is that we're trying to take the the decade of experience that we've developed. Again with all those mistakes along the way to become you know the 7 billion dollar, consumer electronics company and give people an option to improve their business lines, so that's from the beginning to the end of the process and what we're looking for is companies that have already gone in and let's just say made their first 10 million, and they've hit a wall. [32:55] Because they haven't been able to expand the business or scale either through supply chain issues through fulfillment customer service maybe the advertising has become, complicated and convoluted because they've developed so many skus there's just so many problems that when someone reaches a certain point and they want to get to that next 10 or 20 million dollars when they're doing business, it's a different skill set, you know what they've done is worked it to a certain point and they is try as they might they can't get past that threshold and that's where we come in, so we're developing essential overall Amazon selling and operations processes that could be digital marketing marketing insights, advertising management helping them develop their Brand store and their product pages to customer service and relationship management which I mentioned earlier is. Reticle to get those star ratings in a good place through good authentic communication with your customers in a great experience with the products. [33:59] Obviously e-commerce and all the financial systems, and then what we're dealing with a lot these days is supply chain and Logistics management so you get yourself to a certain point and there's a lot of people that are coming to us and that is the area, where they're really hurting the most and they need help they need help developing new contacts new supply chain partners, for how do I deal with the issue if you're dealing with something that might spoil like we're dealing with a company that, deals in collagen and when something spits on one of those tankers out in the middle of the ocean for too long when it arrives in the warehouse, it's past its fresh state so you've just lost all that inventory so each client is unique, but with this kind of broad scope of things that we can help them with and we can help audit the business and hopefully help them transcend whatever's keeping them from moving to that next 10 and 20 and 30 million dollars. Jason: [34:59] Very interesting so going back to our earlier conversation this is sort of a way for other young young Brands to leverage all the expertise and skills you guys have have built-in staying on top of this ecosystem. Eric: [35:14] Exactly it's an opportunity for us to take what we've learned and apply it to that young brand I couldn't have said it better myself. Jason: [35:22] Yeah and it at this point is ocean Wing primarily focused with Amazon distribution or would they also leverage all the other distribution channels that you guys have expanded into. Eric: [35:36] Yeah I mean I think I think our sweet spot is definitely FBA so specifically Amazon. That is not to say that we can't help them with other things like supply chain and Logistics but for us, it's a recipe and you know where we've had our success with the clients have come in or people that have been focused on Amazon and then we can kind of look at what they're doing and we can evolve the recipe a little bit, and and get it all the ingredients in place and help them be successful because they all work together, so but I would say Amazon is definitely our primary focus right now at least dealing with businesses that are on Amazon that isn't to say that these businesses are you solely focused Amazon because they're not but Amazon is a key Channel especially if they're going globally and that's where we come in. Jason: [36:31] Got it and obviously over the last year there's kind of been a lot of Buzz around these I'll call them FB a roll ups where you know these, these companies have raised a bunch of money and they go out and acquire Brands and aggregate them and try to help them with their Amazon presents and we you know we've followed thrash Co and perch and, and all of those is, is this kind of your version of that do you see your value prop being different than those other companies or is it just that you have. Sort of more experience and and product scale than some of these companies. Eric: [37:05] How to say this without sounding like it like it's not a jerk but the again we this is what we do, this is how we built our business so we can take. The lessons learned the hard ones too and we can apply it to our clients and I think that alone is super unique that we're a company that's already done this and you know in spades, and now we can apply those learnings to irregular company the other part of it is that most consultancies are focused on Consulting, and but we're a consultant that actually you know rolls up our sleeves and gets into the nitty-gritty of the business and helps and and and that's really depending on the level of the contract or the engagement but you're not only dealing company that can come in and, say some pretty words and show you a powerpoint of what you should be doing, but you know we've already done it and we can roll up our sleeves and get deep in there with you and help you do it or do it. And then that last part in terms of supply chain and and Logistics and you know dealing with manufacturers around the world or suppliers and stuff I think that's a definitely a secret sauce because of our relationships. In China and around the world that we can bring to bear that others can't. Scot: [38:23] So I'd be remiss as the entrepreneur on the show if I noticed in your bio on LinkedIn you have written a book and it's very much in my wheelhouse it's called get funded the startup entrepreneurs guide to seriously successful fundraising I wish I'd had this 20 years ago but I'm glad it exists now tell us tell us about this book and how it came to be. Eric: [38:46] Well my writing partner John Biggs is a little bit of a media icon we've known each other for I think I took them on a media tour maybe 12 13 years ago and. [38:58] We just became very good friends and our families have subsequently traveled the world with each other and we just kind of dig each other and we both have the same kind of sense of humor and sensibilities. [39:10] A couple of years ago he reached out to me that he had been approached by McGraw-Hill to write this book, and thought that I could help provide sort of the second part of the book so the book is broken out into two parts one is is about financing but written in such a way that whether you're trying to develop a taco truck, or you know a retail store or something else what are the different options out there from let's say SBA Loans to even using cryptocurrency, 22 you know set up fundraising all the way down to the meetings and how you value the company how do you pitch people, how do you put presentations together, so very very very this is not this is for the person that was really starting out with very limited knowledge, on the fundraising process and how do you present yourself at the end of the day so John really focus more on the fundraising side and I focus more on the presentation skills, how to pitch how to talk how to prepare how to answer questions the technical aspects of doing a presentation when everything goes wrong. Obviously if I could if I could rewrite a whole section on this now since the book was published last year in September I probably be a whole section on how to pitch during covid because that was. [40:35] That was definitely not it was not a reality when we were writing the book but it was definitely a reality by the time the book was published and I hope and we've heard, the people the industry has adapted that investors and seed funders and people are hard at work and investing but, for the person that might not have the background in this I still think the book for evaluating your company, getting all your ducks in a row building your presentations and how to pitch is still very valuable. Scot: [41:12] Very cool yet this kind of books I think they're kind of Evergreen and it's kind of a little snowball kind of effort so be patient it'll it'll catch up. Jason: [41:22] I am curious it does feel like there's a little bit of a disruption in the fundraising World why you know there for a long time there's this kind of traditional VC path, and obviously there's still a lot of money that flows through that path but I feel like the the role of Angel Investors and sort of other untraditional fundraising. Is becoming more common than it used to be like you guys try to cover that those kind of approaches in the book as well or is it mostly focused on on moving through Sandhill Road. Eric: [41:52] Well it's we wanted it in some ways to be the antithesis of Silicon Valley so for those people that are going down that road you know inevitably they're going to partner up. Let's say at the app generation. They're going to partner up and kind of go down that road our book really tries to focus everything from the pros and cons of using your own credit card friends and family, crowdfunding as I said SBA Loans if you're a minority or women owned business looking at options they're looking at. Prices and options like through FedEx has a great program for entrepreneurs and trying to cover the whole gamut, so we could make fundraising more reasonable and open to the entrepreneur is opposed to. Yeah the tech bro going to Silicon Valley and looking for for someone's bill. Scot: [42:45] Awesome I had one follow-up on Ocean we just took kind of clarify it for listeners you guys are your kind of more in the agency side of things you're not going out there and finding, new brands that are also born on Amazon and acquiring of in kind of rolling them up like the thrashes of the world is do I have that right. Eric: [43:04] We're talking about anchor Innovations right. Scot: [43:07] Yeah the ocean Wing synchronization set. Eric: [43:12] Well on the ocean on the ocean Wing side it's definitely consultative but I mean those things are going to evolve as the business comes in and I don't know if you mean like Financial stakes and the business and stuff but. I mean who knows right if if something came along that looked amazing and a great partnership I'm sure we would consider that. On the anchor Innovation side I think you'll be seeing and you know in the future probably incubator initiatives and things like that, it would be to me it would be a personally exciting to get involved in as seeking out and finding you know exciting. Developers all around the world we tend to be very myopic here and look at the United States as being, where everything's happening and I'd say you know maybe from apps and things like that might be true but when you're looking at Innovation and medicine or innovation and Robotics or innovation and Farm Technology or whatever, you really have to look outside and around the world and you're going to find that Innovation and really unique an unassuming places. So is is if we do get into more ink you know becoming more of a global incubator, I would imagine in our direction would be all over the place and looking in places like India and Africa and you know wherever cool things are being developed. Scot: [44:34] Cool so no almost boundless growth opportunities for you guys it sounds like an exciting time. Jason: [44:44] Well this is certainly going to be a exciting and different holiday season and this is going to be a great place to leave this conversation because it is happen again we've Perfectly Used up our allotted time, But Eric we really appreciate your time and enjoyed hearing about anchoring some of the exciting new initiatives there. Eric: [45:05] Thanks God and thanks Jason. Scot: [45:07] Yeah if anyone wanted to follow you or you are you big on Tick-Tock or I said it's usually or Twitter or LinkedIn or you publish their and then where should they go for some good the latest Anchor Information. Eric: [45:22] Someone can connect with me on LinkedIn my focus to be quite Frank with you as I'm So Married to my work as I tend to focus my communication through work as opposed to myself. I think it's one of those things when you work in Communications you got to be careful about what use you say. So mostly I'm just talking about my company in the things that we do. Jason: [45:49] Awesome well we will put a link to your LinkedIn profile in there and certainly some links to Anchor and until next time happy commercing!
This week's “Best of PWTorch Livecast” jumps back five years to the Nov. 20 episode featuring PWTorch columnists Pat McNeill & Greg Parks with the Survivor Series Postgame Show with live calls and emails. They discuss the finish to Goldberg-Lesnar, whether Goldberg has signed with WWE, Shane McMahon's scary bump off the spear, and what tonight's show sets up for future weeks.
Leo takes advantage of his otherwise occupied co-hosts to hijack this week's feed. Rather than your regularly scheduled programming, Leo uses this opportunity to showcase the new episode of "Fixin' The Printer". Joining everyone's favorite Bordeaux this week is everyone's second favorite Bublé! Reginald Bublé (Ari Goldberg) owner and proprietor of Bublé's Brinters, offers his experience and thin helping hand in the Sisyphean task that is Leopold Bordeaux's quest to fix the breakroom printer. Questions, comments, or the desire to chat? You can reach the crew at Crewscontrolpodcast@gmail.comWe're mostly on Instagram @crewscontrolpodcastFind us on slightly on Twitter @PodCrewsControlCheck out our woefully undermanaged TikTok @crewscontrolpodcastIf you like the show, help us grow! Rate, review, and subscribe on Apple Podcasts and Dorsch will bake you an authentic Moosekrainian cake!Cover art by Dave BenderTheme composed by Steve Sarro(We can't promise that Dorsch won't eat your authentic Moosekrainian cake)
This week we dive back to the days of "The Powers That Be" in World Championship Wrestling! Witness the technical prowess that was Goldberg vs Sid! The (not) Retirement of Curt Hennig! The arrival of Tony Marinara! The tornado of terrible that was David Flair vs Kimberly Page! And More run-ins than you can shake a disembodied arm reaching into camera frame's finger at! And during the DISH we break down the entire AEW Full Gear PPV!So join us as we reviewed WCW's Mayhem from November of 1999!====================================Timestamps:Sid Vicious Dishes (AEW Full Gear) - 00:02:15.The 4-Things - 00:46:11.Main Review - 00:54:05.Current Wrasslin' - 02:21:07.
Matt welcomes his friend Aaron Hagar to the show while Goldberg is away filming. The guys chat about the newest Dodge campaign and Aaron shares some rock n' roll stories. Next, the guys share their thoughts on the new Range Rover, Acura's unveiling of the Integra, and Lexus LFA rumors. Visit Geico.com Visit RockAuto.com and let them know you heard it on CarCast Visit good-guys.com and use code CarCast
Nacho se sincera con Raúl sobre el origen de sus deudas. Julián hace una oferta que Esteban no puede rechazar. Luisa le confiesa su oscuro pasado a Dr. Goldberg. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Whoopi Goldberg and ‘The View' Executive Producer Brian Teta look back over the last nine episodes of our podcast series where co-hosts have been reflecting on their time on ‘The View' and celebrating its 25th season. Goldberg discusses some of the misconceptions of being a co-host and gives some insight on what happens in the co-hosts' morning Hot Topics meeting. With Meghan McCain's departure from the show last season, Goldberg and Teta discuss filling the fifth seat at the table and the importance of having different views at the table. Listen to "The View" weekdays on your favorite podcast app! Just search for "The View" on Apple Podcasts, Spotify, or wherever you like to listen. For more: https://abcaudio.com/podcasts/the-view
Whoopi Goldberg and ‘The View' Executive Producer Brian Teta look back over the last nine episodes of our podcast series where co-hosts have been reflecting on their time on ‘The View' and celebrating its 25th season. Goldberg discusses some of the misconceptions of being a co-host and gives some insight on what happens in the co-hosts' morning Hot Topics meeting. With Meghan McCain's departure from the show last season, Goldberg and Teta discuss filling the fifth seat at the table and the importance of having different views at the table. This series is also available as a standalone podcast series. Just search for "The View: Behind the Table" on Apple Podcasts, Spotify, or wherever you like to listen. For more: https://abcaudio.com/podcasts/the-view-behind-the-table
This week's “Best of PWTorch Livecast” jumps back five years to the Nov. 11 and 12 episodes. First up is Jim Valley interviewing the fan known for saying “It's still real to me, dammit!” With those words, Dave Wills became Internet famous and forever known as the "Crying Wrestling Fan." They talk about Bill Watts' UWF, the 8-hour wrestling block on Atlanta TV and why The Barbarian is his all-time favorite wrestler. Plus, Dave tells the story of exactly what he was thinking at the moment he became part of viral video history.Then in the Prime Time Friday Livecast, Travis Bryant and Bruce Mitchell, along with an esoteric roster of callers, discuss the Red vs. Blue rivalry in WWE, Goldberg vs. Brock Lesnar, James Ellsworth vs. Smackdown, and Travis has a question for the Fix's Todd Martin.
For the 68th episode of Private Parts Unknown, your hosts Courtney Kocak & Sofiya Alexandra welcome Dena Goldberg, a genetic counselor specializing in breast cancer. This is a continuation of our breast cancer awareness series, with Dena filling us in on the difference genetic testing can make on breast cancer diagnosis & treatment, the genes beyond BRCA1 & BRCA2 that impact breast cancer risk, common misconceptions about genetic counseling in general & more. For more Dena Goldberg: Check out Dena's website denadna.com Follow Dena on Instagram @dena.dna Follow Dena on Twitter @DenaTalksDNA Follow Dena on Tiktok @DenaDNA Like Dena on Facebook @DenaTalksDNA Private Parts Unknown is a proud member of the Pleasure Podcast network. This episode is brought to you by: Good health starts with good habits. quip makes it easy, by delivering all the oral care essentials you need to care for your mouth. If you go to getquip.com/private, you'll get your first refill FREE. Dipsea is an audio erotica app full of short, sexy stories and guided sessions designed to turn you on. Dipsea is offering a 30-day free trial when you go to dipseastories.com/private. Like A Kitten will ship you a gift box with all your erotic essentials, from vibrators and massage oils to robes and handcuffs. It's your one-stop-shop for a purrrfect evening. Like A Kitten is offering our listeners 20% off AND free shipping when you go to LikeAKitten.com/Private OR enter code Private at checkout. Let's be friends on social media! Follow the show on Instagram @privatepartsunknown & Twitter @privatepartsun. Connect with hosts Courtney Kocak @courtneykocak & Sofiya @thesofiya on Instagram & Twitter. If you love this episode, please leave us a 5-star rating & sexy review! —> ratethispodcast.com/private
The Four Elementals are down by one via death by swordfish! It's up to Eugene, Anjus, and Maryanne to stop it! But will the police help? Or will they hurt? And what about the Shakespearian Bird Release? Find out ... now! The Land Whale Murders is a Roi Gold Production it was written by Jonathan A. Goldberg with music by Matt Roi Berger. It was directed by James Oliva with sound design and editing by Martin D. Fowler. Jordan Stillman is our production manager. for more information visit: www.landwhalepod.com This episode is produced by: Jenny Turner Hall! Warning: this podcast contains depictions of violence, adult situations, historical inaccuracies, slang, outdated ideas, well meaning but flawed people, inappropriate jokes, anachronisms, and overall piffle and humbug, listener discretion is advised Learn more about your ad choices. Visit megaphone.fm/adchoices
This week Hoch & Chad set the clock to 60 minutes and dive deep into Richard Linklater's 1993 film, Dazed & Confused. We talk about it being The Godfather of “the hangout film,” best scene & performance, and odd facts & findings about the movie. If you love nerding out about movies, tune in for this love fest of an all time cult classic.
In this episode of New Ideal Live, Elan Journo and Onkar Ghate discuss Jonah Goldberg's public rejection of Ayn Rand, and what that shows about the conservative movement. Among the topics covered: Why Goldberg's comments matter;How Goldberg's adamant rejection of Ayn Rand betrays his ambivalence about the value of freedom;Why Goldberg says Rand doesn't belong in the conservative movement;Whittaker Chambers's dishonest, anti-American article about Atlas Shrugged;Why Ayn Rand's opposition to religion threatens conservatives;The irrationality of Goldberg's conservative view that everyone must respect religion;The anti-intellectuality of Goldberg's reaction to Ayn Rand;How conservative critics of Trump fail to see him as essentially religious;Ayn Rand's response to a question about similarities with William Buckley. Mentioned in the discussion are the book Essays on Atlas Shrugged and Ayn Rand's talk A Nation's Unity. This podcast was recorded on November 3, 2021. Listen to the discussion below. Listen and subscribe from your mobile device on Apple Podcasts, Google Podcasts, Spotify or Stitcher. Watch archived podcasts here. https://youtu.be/VmIHFi8Jzrs Podcast audio:
Raúl intenta reavivar la llama llevando a María a una cita "romántica." Mientras tanto, Dr. Goldberg recomienda a Luisa que sorprenda a Esteban. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Raul tries to rekindle the flame by taking Maria out on a "romantic" date. Meanwhile, Dr. Goldberg recommends Luisa buy a surprise gift for Esteban. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Dr. Goldberg and Dr. Deb discuss the immune system and how being exposed to viral loads or multiple viruses can hijack your immune system and cause neurological symptoms. Do not miss these highlights: [04:50] You cannot fix an illness or disease if you don't get to the bottom of it [09:23] The need to start...
PWTorch editor Wade Keller presents an Interview Classic from five years ago (11-3-2016). He interviews Gabe Sapolsky for the first 30 minutes and then Steve Austin for the next 75 minutes. Sapolsky, VIP of Talent Relations and Creative for EVOLVE and WNN, discusses the FloSlam streaming affiliation and what it means to indy wrestling and the development of talent, WWE's reaction, who his top stars are, what the marketing will be, and more. Then Steve Austin joins Wade to talk a lot of current events including evaluating the main event programs and wrestlers in WWE and what is working and not working, plus Goldberg's return, Miz finding his way, the awkward Dean Ambrose interview on WWE Network, his Kurt Angle interview, the prospects of a Shawn Michaels vs. A.J. Styles, thoughts on Charlotte, and then some UFC talk about Conor McGregor and Ronda Rousey at the end. Plus, he gets listeners ready for CMT's “Broken Skull Challenge” that starts up again with new episodes on CMT on Nov. 13.
“We're not art investors. We're investing in things that have communities” On this episode of The Scoop, Adam Goldberg co-founder of Standard Crypto joined host Frank Chaparro to discuss his work as a crypto VC and how his company is looking at the DeFi market in an unconventional way. Standard Crypto is $1 billion in size, according to a source familiar with the fund. Today, their investment team is primarily focused on projects in three areas: infrastructure, networks and apps. Thus far, Standard Crypto has made investments in major companies like OpenSea, Axie Infinity, Matrixport, Aave and Telegram, among others. The firm also has stakes in projects such as Audius, BitClout/Deso and Instadapp. Goldberg framed Standard Crypto's focus on the types of investments that have an ability to execute on and build a community. "When you have a network that's owned by its participants, the rules can't change without the community being on board. And that's what makes us feel like crypto networks are the hardest thing to disrupt that we've ever seen in humanity, in that they evolve with their communities as things change and shift over time," said Goldberg. Gaming and the Metaverse in focus Goldberg told Chaparro that Standard Crypto is actively looking at companies advancing social and gaming projects in crypto. He sees the metaverse convergence of games and in-game economies as a new kind of development that's different from gameplay itself. "You know, Axie is not just a game, it's a new movement. It's sort of like a new generation of Pokemon or of of Angry Birds. And it's possible that we'll see, you know, movies or other types of experiences built around that IP." Said Goldberg. NFTs Standard Crypto is also looking closely at NFT's, of which Goldberg said he sees a lot of opportunities to capture value as “new types of productive assets”. Standard Crypto are current investors in NFT marketplaces OpenSea and Foundation. ... For most visit theblockcrypto.com/podcasts Episode 71 of Season 3 of The Scoop was recorded remotely with The Block's Frank Chaparro and Adam Goldberg, Co-Founder at Standard Crypto. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to email@example.com. This episode is brought to you by our sponsors Bakkt, Kraken and Masterworks Bakkt® unlocks the $1.2+ trillion of digital assets that is currently held in cryptocurrencies, rewards and loyalty points, gaming assets and merchant stored value. We began in 2018 with the vision to bring trust and transparency to digital assets. Through the Bakkt Warehouse and Bakkt Bitcoin Futures and Options contracts, we serve institutional clients in an end-to-end regulated market with true price transparency. For consumers, Bakkt aggregates digital assets to enable instant liquidity and to empower users to trade, transfer and pay however they want. Visit Bakkt.com for more information About Kraken Whether you're an experienced crypto trader or just starting out, Kraken has the tools to help you achieve financial freedom. With 50+ cryptocurrencies to choose from, industry-leading security and a wide variety of features to suit any investing strategy, Kraken puts the power in your hands to buy, sell and trade digital assets. Visit Kraken.com to get started today. About Masterworks Masterworks is democratizing the exclusive multi-trillion-dollar art world. Instead of needing to write a $10 million dollar check to buy one Picasso painting, you can buy shares of masterpiece paintings. Masterworks has securitized over $250 million worth of art for their 235,000 members and was recently valued at over $1 billion, making them the first and only unicorn in the alternative investing space. Invest like a billionaire today with a few easy clicks at masterworks.io/scoop
Iran's new president is a hardliner picked by the Supreme Leader to send a message to the West: we do not need the JCPOA. Simultaneously, Tehran has escalated its nuclear provocations – enriching uranium purity, producing uranium metal, and limiting monitoring by international inspectors. Despite this, the Biden Administration still hopes to rejoin the JCPOA. What happens next?
C'mon, bay bay, and join Jenny, Tim and Greg as they discuss the World Championship Wrestling career of the Ayatollah of Rock ‘n Rolla, the paragon of virtue, the man who went undefeated against Goldberg, Chris Jericho! We look at matches from the cruiserweight pioneer's early days as a plucky babyface battling familiar international foes and cheating legends, then take a brief look at his iconic 1998 with a rare battle against a fellow heel. It's a journey through the rise of the Man of 1,004 Holds!
Each investor highlights a situation where they decided not to invest, why they passed, and how it played out. Did you miss our guests full length episodes? David Goldberg Episode 272 Nicole Quinn Episode 279 Spencer Maughan Episode 284 Jonathan Ebinger Episode 302 For other great episodes, go to The Full Ratchet blog and catch up! Also, follow us on LinkedIn (https://www.linkedin.com/company/27155166/) and Twitter (https://twitter.com/TFR_Pod).
He defended the real life “Mule”, the subject of the movie starring Clint Eastwood and Bradley Cooper and directed by Clint Eastwood, represented Drew Peterson, the former police officer charged with murdering one of his wives and took part in the “Family Secrets” case in which characters and scenes in the movie Casino, starring Robert DeNiro and Joe Pesci, were loosely based and he's here to share his stories and approach to trials. Darryl Goldberg Does Killer Cross!
Rabbi Efrem Goldberg on Let's Get Real with Coach Menachem Sunday, October 31st, 2021 Episode # 78 Becoming an Open Minded Jew, Not Being Locked into One Hashkafa, but Taking the Best of all of Them --- Support this podcast: https://anchor.fm/menachem-bernfeld/support
Wrestlers that have no interest in making the fantasy a reality. Jules Gill presents 10 Dream Matches Wrestlers Refuse To Work...ENJOY!Follow us on Twitter:@Retr0J@WhatCultureWWEFor more awesome content, check out: whatculture.com/wwe See acast.com/privacy for privacy and opt-out information.
EP279 - Amazon, EBay, Shopify Q3 Earnings In Episode 257 we talked about IDFA and the impact of privacy and digital ads, and then on Episode 277 we talked about Supply chain pain (SupplyPain™). Now that we're in Q3 earnings season we're seeing those themes play out. This week we dive into the earnings calls from Snap, eBay, Shopify, and Amazon. We also discuss the Rent the Runway IPO. Episode 279 of the Jason & Scot show was recorded on Thursday. October 28th, 2021. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:00] Welcome to the Jason and Scot show this is episode 279 the Halloween edition being recorded on Thursday October 28 2021 I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scot Wingo. Scot: [0:18] Hey Jason happy Halloween. Jason: [0:21] Happy Halloween to you too Scott are you a big Halloween guy I kind of imagine you are. Scot: [0:26] Am I like to dress up but once my kids became teenagers that was suddenly not cool so I haven't been dressing up since probably for probably like the last few years so. If you dress up for your son enjoy it while you can. Jason: [0:42] Come over and spend it with us Steven is happy to be your dress up beard. Scot: [0:47] Yeah he would have a Darth Sidious outfit and work to the channel visor Christmas party and scared all the look it's so so I don't do that with five and under. Jason: [0:59] Yeah you probably weren't invited back to your own company's Halloween party. Scot: [1:03] Yeah well a lot of times the wives didn't know that I was so sorry. Jason: [1:06] Yeah but the other way to think about it is that it's Christmas in October both because retailers are desperately trying to pull holiday sales and but also because Apple finally release the new Macbook Pros that you and I have been waiting for. Scot: [1:20] Yeah yeah we had some Getty conversations about that you've got the new chips and yeah and you know the Apple, the Apple launch events have gotten kind of weirder and weirder with covid like now it's like you know Tim standing in a Tim Cook standing in a giant corn field then the the camera flies around like a crow and so so those have been kind of fun to watch just for the theatrics of they're going through. Jason: [1:47] Yeah yeah no the production like despite the fact that it's all pre-recorded and stuff and you know the the production value is pretty high I I'd like to see him go the other way it should be like Tim Cook in his pj's in his kitchen being like Oh and we invented a new chip. Scot: [2:02] I miss Johnny I've saying aluminium this my favor. Jason: [2:05] Yes and as you may know aluminium is dramatically more expensive than aluminum. Scot: [2:11] Yeah and chamfered edges. Jason: [2:13] Yeah all that's gone now it's just a chunk of aluminium but I'm excited to get mine I have a little jealousy because I feel like we both ordered early on launch day and I think yours already shipped is that true. Scot: [2:29] Yeah it's somewhere on a plane from Shanghai right now I hope according to the the tracking number we'll see. Jason: [2:36] Nice nice I will be excited for your unboxing and I half expected that when you jumped on the, the conference call to record this one that you'd be wearing like a Versace like jogging suit or something because my my Google Alerts have blown up this week because get spiffy is on fire. Scot: [2:56] Yeah yeah we had a big week it's few we announced our Series be fundraising so that was a lot of fun, I think I had a record LinkedIn post I think I had something like 300 comments and so those those good it's always. Yeah it's been a kind of a crazy 18 months for us and I can definitely commiserate with our retail folks that are going through harder times now we had those common being the pandemic but got through and. It's been crazy we've since March our business has grown like eighty percent so it's been like this crazy post covid-19, perfect storm for for Mobile Car Care Bears, you have no one can hire anybody but we've been able to kind of squeak that out and then no one can get new vehicles so they're running their vehicle Vehicles longer, they don't have anyone to take them to brick-and-mortar service centers they don't have mechanics to hire so they call us if so that's been it's been a lot more fun than this time last year. Jason: [3:54] That that is awesome I'm going to assume the one slight negative is you get some good news like that you get all those those post cooking on LinkedIn and I'm assuming, every vendor under the planet has I read your news and is now pitching you for something. Scot: [4:10] Yes yeah I try to forward them all to you because, there's a lot of Executive coaching out there available that you know maybe you could use a lot of video stories a lot of AI chatbots you know I don't know how on Earth we have, the world can sustain at least a thousand AI chatbots but there are a lot of those out there yeah when trick is someone told me, if you put an emoji in your name on LinkedIn the Bots pick it up or get confused by it so that that helps give me an automatic filter so if someone kind of uses that emoji when they're kind of like hey Scott and that you know they put the Emoji then you know that it's a bot so that I just delete. Jason: [4:54] Oh my God this episode of the podcast is now like officially worth it just for that that's a pro tip. Scot: [5:00] Life hacks yeah I'm here for LinkedIn life hacks that's my that's my speciality that and saying aluminum. Jason: [5:08] Those are all good skills but congratulations I know it's non-trivial ever to get people to have their trust in you and invest and then in this climate in particular I'm sure. It was a rigorous process. Scot: [5:25] Thanks thanks and we actually added the folks at Goodyear Ventures so shout out to them I think some of their e-commerce folks listen to the show so appreciate their support. Jason: [5:34] Nice A wise choice in podcast as well so any e-commerce stuff you follow this week. Scot: [5:42] Well it has been probably one of the more interesting weeks in the land of e-commerce for a while so listeners will remember that you know. We were recording this in October so this is always an interesting time to read what's going on in the Q3 results which kind of sets us up for Q4. So we always pay particular attention during this time of year. But if blisters remember back in March of this year you and I I would like to say and I think if we voted on this would be unanimous we're basically Clairvoyant Nostradamus level of predicting things. You and I both kind of felt like the industry wasn't taking this idea if a the Apple privacy changes coming to both iOS what is it 14.5 and then later 15 added some more. It didn't seem like anyone was taking that as seriously as you and I kind of felt like it was going to hit him so he did a really big deep dive on that that's one of our more popular episodes that's 257. And then into 77 you and I again being The Clairvoyant Wonders that we are we started talking about the supply chain being way worse than folks thought it were in coined Supply pain. So we are now starting to see those two things Collide in really interesting ways that I don't. [7:02] You know I think our guesses that those would be bigger than people thought on it came true so let's walk through what that. The first one was Snapchat so they we don't usually cover them on the show but I think it kind of sets the tone here they started off their earning Seasons last week Thursday on the 21st, and they just totally whiffed on their expectations and I thought it would read this little segment from from one of the Wall Street. [7:30] Analyst. While snap was clear that changes have not impacted the efficacy of their advertising iOS 14.5 is limiting direct response advertisers ability to measure and optimize campaigns on Snapchat. Leading to reduce spending on the platform specifically the update was pushed to users in July blah blah blah blah and it restricts the advertisers ability to use their measurement tools. So basically used to be able to measure what was going on in Snapchat and you know and because it's in an app and that's largely the use cases inside of the app for advertisers they have no idea. Traffic is converting or not so that's not good especially, you know and then advertisers are into buckets you know this but just for listeners there's brand advertisers were just kind of top of the funnel building awareness in just really trying to be seen and what not, and then there's more direct response where you're really trying to measure you know I'm selling in Snapchat Maps I'm a convenience store and I want people to come in and get a slice of, and I'm measuring that conversion that just went away so that big segment of advertisers is very upset. And what Apple did is they offered this alternative I don't know the right way to say this but it's their own ad that work how do you how do you say. [8:47] Gad Network Scott ad Network I don't know I'm going to call it apples ad network but that's not the official name. So Apple said okay don't worry everyone we're going to do this privacy thing over here but we're going to give you these little tool sets so that your advertisers can see what's going on. Well those things really stink worse than anyone I ever imagined because you know they. Because they're super anonymised you have to have you have to be at this really big scale so if you're kind of a micro let's say you're not 7-Eleven your Joe's convenience store, well in Des Moines Iowa well you're never going to have enough data in there to give you anything so so it doesn't work for this vast segments of advertisers I think everyone was surprised by that, then if it does work the reporting is delayed as much as 72 hours so it's like what happened last Thursday kind of thing, so it's just a total train wreck and then on top of that to kind of pile on, snap said in addition a bunch of their brand advertisers turned off because, they just don't have any products they can sell because of the supply chain problems so so it was a double whammy for snap and the stock Plum old plummeted like, 10% the first day and has continued to slide and so it's down 20 percent as of now so that was that got everyone really squirrelly and spooked out. [10:16] What is your take on the Snapchat side. Jason: [10:18] Yeah no I mean you I think you covered it really well like in general there has been a trend where more ad dollars are shifting to more of those direct response ads so the fact that like that's the. [10:31] The side of advertising that got diminished was like extra severe because you know people were generally trying to spend more money at the bottom of the funnel than, then they had in the past these digital, platforms and especially after Google and Facebook they the bulk of their advertisers are the long tail Advertiser so they tend to be smaller people that are more impacted by these sort of like cohort models that, the Apple and Google are trying to use, um and I would just say like there is a funny thing here like the attribution always sucked and it best it's this last click attribution someone saw your ad clicked on it and then bought the thing. And so therefore your ad was worthwhile you never will know if you would have sold the thing, without that add right and they may very well have like type your name into a platform that then showed your ad right above your organic listing and. You know the the ad kind of stole the click right so. So you know there always is this dirty little secret that like attribution is not the same as incrementality. And you know now like these advertisers that used to be able to justify their spend are having a harder time because of these numbers but the other thing is mucking up is about 73% of all these digital ads are programmatically bought so. [11:56] Computer program buys it and guess what the most important impart inputs are for that programmatic algorithm its, those those ads success metrics so the fact that is delayed 72 hours it's not just an inconvenience that you know someone buying an ad isn't going to see a report for a couple days, it means you can't do this real-time bidding based on like you know hitting particular row as goals and things like that with your at so, it is a mess I would just say you know snap and Facebook you know used to be a huge competitive advantage that the bulk of their user base was in this mobile app and you know the fact that everything happened in the app was a huge benefit and now it's. It's unfortunately for them sort of biting them in the in the butt. Scot: [12:40] So so that got Wall Street very much awake about this issue and many of the reports were like we just don't know how bad Q4 is going to be because, you know iOS 15 is now out and it increasingly has turned the crank on privacy this one is really more around the efficacy of email marketing, but if you're if you're a brand you have you know and used to do a ton of direct response advertising and snap and, you know you're doing a bunch of email marketing you've just had two legs of the stool kind of taken out from underneath him so. This got Wall Street very worried a lot of the stocks kind of reacted and then that was kind of the set up this week so then we hit Monday of this week, and Facebook was next up and everyone was like losing their mind because if you think about Snapchat is largely used through the app on phones same is similarly true Facebook at least has some desktop traffic. But I believe snap doesn't have any it's just an app yeah it's got to be snap. [13:41] Sermons like okay this is going to be bad but how bad so Facebook came out and they miss their consensus numbers but they were in range with what they had kind of guided to so I wear a snap kind of thing just totally blew up everything. And then they also kind of lowered going into the fourth quarter and so there was kind of a little bit of collective sigh of relief that was like who that wasn't as bad as we thought it would be. [14:08] And they kind of said oh yeah and also we're going to change our name so everyone's like what, okay but then they did they didn't change their name at that particular time so that was kind of weird, so everyone is kind of like what is this and you know they are obsessed with this idea of the metaverse we should probably do a deep dive on this at some point but this this idea that, you know you'll kind of be able to go in and out of the seamless 3D World either with augmented reality or virtual reality and, Jason I love to talk about this future things but don't have time to get into it here, so everyone was like okay that wasn't so bad and then on Wednesday both eBay and Google announced Google surprise to the upside and, you know I believe this is because they are they own a phone platform they own a browser, so in this new world of third-party data kind of going away they're in a pretty good position because they have a lot of first-party data. Now they do have some exposure you know especially through like their ad networks and stuff but they were able to mitigate that through the bulk of their other activities. [15:18] So so that was interesting and then reading that report one thing they actually called out was that they one of the segments that was stronger than anticipated was the kind of called it e-commerce and that encapsulates. The traditional Google shopping that most merchants and brand folks will know, but then they talked about how they're having their starting to see a fair amount of success on YouTube and it wasn't clear to me I was going to ask you it wasn't clear to me what exactly they were talking about their they didn't they didn't elaborate, no is it live streaming is it some product, I think you can send a feed into YouTube now and how things bought through there so I wanted to pick your brain on that Google aspect of. Jason: [16:01] Yeah no it is getting a lot of traction and it's a there's a family of AD products on YouTube called YouTube shoppable ads and it. It's less about live streaming there's a tiny little bit of it on YouTube that's why I've streaming but it's it's being able to embed clickable links in video streams and then add pre-rolls for other people's video streams, the let you endemically buy a product and so the and the. You know the the amount of volume on those kind of add products versus like a product listing add on Google searches lower, um but the efficacy is much higher and the growth rate is is much higher so people are consuming a ton of minutes of a video on the YouTube platforms and you know now we're starting to see. Tangible examples of being able to convert those audiences into buyers so that's that's kind of interesting but it's less live streaming and more. Sort of you know embedded links in the video that that either do an endemic check out on YouTube or send you to a Retailer's e-commerce site. Scot: [17:15] Yeah yeah I definitely want to dig into that maybe we could do a deep dive on another show and kind of look at some of these cases I think it's interesting so then everyone was like holy cow this is this is awesome Google did great and then eBay announced and their their results are kind of what I would call, Punk they're just kind of like yeah you know they they weren't terrible like Snapchat and one of the nursing things is Snapchat set the bar so low that people missing consensus kind of was like, almost like a hooray it was a really weird setup I've never seen anything quite like it so it's kind of an interesting result there, so you know being being not terrible as kind of the new win oddly enough, so there gmv was down 12 percent year over year because of these tough comps, and you have a picture maybe we can talk about where you know you see this mountain last year of, do the pandemic and now women's comping against that mountain and a lot of folks especially, Pure Play anyone Pure Play retail they're not able to compliments that they're coming down their growth has slowed below to kind of where that mountain of growth was last year and eBay has fallen into that trap. [18:26] They did spend a lot of time on the call and I thought this was, Clairvoyant of you that kept talking about comping against 2019 so kind of a two year ago comp because that takes the pandemic out and makes you look better when you take that big mountain of a year Outlast in kind of in the sandwich of, the 2019 in the 2021 and when you do that they were up 9 percent so they felt like that was kind of when I don't know about that. Jason: [18:51] Yeah if you do a word cloud of all the the earnings calls this quarter two years ago will be the biggest phrase on the word cloud. Scot: [19:02] So then today was interesting because the setup was and I don't think this is ever lined up like this so in the morning we had Shopify and then in the evening we had Amazon, and when you when you when you're a public company you have to you can't you can't announce earnings while the markets open most people historically have done, you know after market close Shopify for some reason they like the morning, part of it is I think you don't compete with analyst for their time because sometimes these internet analyst. You know like on that night we had Google and eBay they'll go to the what'll happen is they'll see the press release and I'll have to decide which one of the calls they're going to go to. And they'll say they all go to Google well now you're the eBay folks in your like does anyone have a question and it's crickets and there's no Wall Street analyst. It's kind of there because they're they're all over on the you're competing for their attention, so yeah so so it creates this interesting setup in that like around eight o'clock before the market opened 8 a.m. eastern Shopify announced and this one was really super squirrelly so. Shopify has been priced for Perfection for a very long time if you look at the various ways of measuring you know they're there. [20:18] Valuation against Revenue multiples of Revenue or ibadah or any of that and you look at a chart there always way up in the upper right hand corner just way off the charts and how Wall Street has valued the. So you know so they actually came in below expectations pretty considerably on the top and bottom line. But again because of that weird Snapchat has Snap Chat setup. It was viewed as a victory which is kind of really strange because I would have guessed. Because Shopify has been so price for Perfection they were kind of set for like a ten to twenty percent correction and then you know they would get back on track, but no they were like up 8% by by missing their numbers says like super strange reaction I don't hundred percent understand. So so I think what it indicates is that folks you know Wall Street was like really worried about it because, again they don't have a ton of they're there their merchants, largely our advertising that could be like a set of these these Snapchat advertisers or they're on Facebook and those guys had headwinds and it just felt like it would be natural for them to face. [21:28] So just put some numbers on it their revenue grew 46 percent year over year and Wall Street expectation was 54% I think this may be part of it too right because, this dismiss is still, pretty pretty good compared to some of the other numbers we just went through right so a 46% grower missing 54% expectations during these tough comps has as it's not hard to shed a tear on that. [21:53] Now they did they did kind of danced around i d f a and supply chain and and for the first time that I'm aware of the client to put out a consensus like an estimate for next year and they kind of talked about a framework. Um so I think and the other trick is if you think about it they're doing that call today which is the 28th right. So in their their digital business so they should have they have a kind of a read on the quarter so so I kind of felt like the body language was maybe that. They're not the setup in the queue for is maybe getting a little bit worse than Q3 but I may be reading too much into that so I thought that was interesting and then, they did talk about the supply pain, and then finally one of the big investment areas they called out for holiday is this Shopify fulfillment Network which I thought was interesting because I keep getting conflicting information on this where I've had people tell me they've got one thing in Canada and one of the US and they're tiny and they're not investing in it then on the call they're talking about how they're really investing in it so I don't I don't know what to make of that. Any takeaways from Shopify on your side. Jason: [23:02] Yeah well if you so first of all I have a personal theory that shopify's going to be more impacted by Supply pain than some of the other big players were talking about right and that's because, they don't, they're not a retailer they don't have any fulfillment they don't sell anything to Consumers they're just an aggregation of a ton of small businesses and there's none of those small businesses individually have any leverage our resources to hedge their supply chain problems whereas, Amazon and Walmart have a lot of levers and can buy ships and moved to different ports and do all kinds of different things to mitigate, the supply chain risks and so I I do think because they're predominantly small businesses that they're going to take a bigger hit from the supply chain disruptions then. Is Amazon so Point number one the, I looked at their gmv numbers and and I have to say like in general I'm a fan of Shopify I think they solve a real problem they do it really well I think they have a ton of growth opportunity, I think they've got a bunch of smart profitable. [24:14] Accelerator businesses that they've you know kind of added to the the core platform and the one I like the most is shop pay, and you know their own payment technology is now driving 50 percent of their whole gym V so they've done a terrific job of watching this this payment technology and getting incremental revenue from that and that's you know that's much more valuable than the, thirty bucks a month or two hundred bucks a month they get for hosting because as those the small businesses grow they get to grow with them and all sorts of good things so that's my precursor, um I hate it when people compare their gmv to Amazon and other retailers because it just it's not Apples to Apples. [24:56] Shopify is gmv mostly grows because they add a hundred thousand more small businesses that are each selling a hundred thousand dollars worth of stuff right and so it's, it's not like Shopify hasn't attracted any customer Shopify hasn't sold anything it's kind of like if you said well FedEx is gmv is bigger than Amazon's or ncr's GM V which is the cash register in Walmart and Best Buy and Starbucks is much bigger than Amazon like it is but who cares right like they like NCR didn't create any of that traffic so. Let me just say like there are all these numbers where their cumulative GMB is getting very significant it's over 400 billion their gym V4 last quarter was 41 billion so that puts them at like. Was that a hundred sixty billion run rate which you know is starting to get there as I like the fourth or fifth largest e-commerce site, um and I like I think that's a false narrative that always annoys me a little bit. Scot: [26:01] They had their on CNBC and they have this stat they like to do where it took them eight years to get to a hundred billion and then a year to get to the next hundred billion or something I forget the number but. Jason: [26:12] So one one side note that the thing that always drives me nuts about their gmv as they don't give you any breakdown about churn right so you don't know. Like is that because all the their original customers are thriving and growing and making their GM V much bigger or. Did they lose all of those customers because they went out of business but they got twice as many new customers we really haven't known in their investor presentation this time they did have a cohort graphic. The kind of and it didn't have any numbers on it and you know so it's kind of hard to interpret but like. It implied that they're all cohorts are a disproportionate amount of their revenue and that their turn is less than I personally suspected, so I actually will reach out offline to Professor Dan McCarthy and see if he wants to accept the challenge of trying, to reverse into some some churn numbers from those Graphics that they provided. Scot: [27:11] Yeah that the trick they do in the software as a service world is they'll take a section of customers cohort like you know, Q 1 2019 customers and then the look at the revenue from that cohort well you could lose like eighty percent of them but the 20% survivors if they go up you know if they have sizable gmv growth their revenue swamps the unit lost of 80% that my guess is that's what they're doing. Jason: [27:36] Yeah and it's still for everyone listening it still is wildly long tail like they in this investor presentation they have a list of like the there there big Enterprise logos and it's Jim shark. Which is a. You know probably one of the bigger digital native vertical Brands but you know not not a billion dollar retailer and it's Staples of Canada right and like Staples is a good brand Canada is smaller than California so like. You know it's not like they're they're you know taking these huge Enterprise sites yet. Scot: [28:12] On CNBC they talked about how they just once Banks and that didn't really resonate with me I just can't imagine I don't know maybe it's like a side maybe it's like an international side or something. Jason: [28:22] Yeah now and I do think they have a ton of I mean they have a ton of growth in North America but the international growth I feel like is you know, huge for them and then all these payment things and, and you know they partnered with with a firm so they have buy now pay later in their payment echo system and remember, like you can now use their payment system for transactions that are not on Shopify so it's an endemic payment option on Facebook now and so it's interesting like in the long run they could get out of the web hosting business in just you know be a bigger more profitable PayPal. Scot: [28:56] Yeah sidebar there is a lot of rumors that house going to buy Pinterest and largely driven by this IDF a where everyone's trying to if you're at the bottom of the direct marketing World funnel all those people because of idea of a an unintended consequence I didn't catch up to Wood is they're all trying to walk up the to the the first party data which would be by acquiring Pinterest set very interesting you know I would say we were early. Jason: [29:26] You put in this but they came out strongly and allege that that wasn't true. Scot: [29:32] Yeah well it's interesting to Think Through like you know I do think that a lot of firms are thinking about this because the idea of a is actually causing maybe even bigger ripples than I thought. Jason: [29:43] In my world the way that plays out is everybody is like so focused on the retail media networks right so selling ads on the retail properties where they do have first party data, and it's a it's a very good practice everyone should be doing it but like. The amount of attention it's getting right now like how hot it is in the market like is way bigger than the possible upside and so you get like. Every you know Clarin as a buy now pay later service like they have an ad Network right I just like just for the the you know like if you use the clarinet app too, to maintain your installment love there there's like ads in there that they're selling to to advertisers and a personal favorite is the gap and the reason that's funny is like most of these ad networks are selling to their in what they call endemic advertisers right so if, Procter & Gamble is selling Gillette razors at Walmart than Walmart will get Procter & Gamble to buy a jet razor ad on Walmart.com it makes perfect sense, um guess what there is not at the Gap in the endemic for its first it's all Gap product right so they've gotta like they're going to get Kanye to buy an ad I guess but um, you know they've got to sell to non-endemic advertisers which is a much higher bar so it just funny how. Right there is a huge rush to first-party data right now. Scot: [31:09] You get a network and or you get an ad Network it's like Oprah giving out ad Networks. [31:15] Okay so that brings us up to this evening when Amazon released so it feels like everyone had kind of. We have breathed a sigh of relief and I was like oh Amazon's going to crush it and then Amazon and if you remember last quarter Amazon kind of had a bit of a mellow kind of slight Miss quarter. And you know the stock if you look at these these kind of there's all these different names for it like Fang and all this stuff but these kind of Mega tech stocks, a lot of them have been moving pretty aggressively so Microsoft Facebook Apple Etc especially Tesla and then Amazon has been lagging the pack and usually they're the leader of the pack so, yeah I think a lot of people were expecting kind of a beat and a Amazon to really kind of take off because it's been under pressure. That didn't happen so they actually missed expectations the revenues came in at a hundred and ten point eight billion which was below the hundred fifteen point five billion so 15% year-over-year growth which is, you know a very uh name has on Nyan kind of a result now it's better than, eBay is minus 12 percent but then again Shopify and I know it doesn't count exactly because they're adding scene for sales but you could argue I guess so is Amazon's adding third parties in here too, so it was it was a bit slower than people thought in Q2 they grew 24 percent so another big step down. [32:44] A lot of this is. [32:47] They're Mountain last year really because they focus on so many essential items and Q2 they really didn't get a bump until Q 3 q 4 so there they're comping their Compass actually harder than maybe like an omni-channel or even in eBay just because of the focus of. You have sung mask and what they called kind of Emergency Essentials last year. They peel the onion and they have this one segment called online source and that was only a 3% for the third quarter and that was a deceleration from 13% in Q2. And then this rippled to the bottom line where operating income came in at four point nine billion which was well below the 5.5 billion consensus, so that's the bad news and there was some good news do you want to cover some of that. Jason: [33:35] Yeah and side note is there a new thing called like. Like you know there are always these I'd beat and raised like you know vernacular for like you know you beat the consensus and then you you raised your guidance I feel like there's a new thing it's missing grow where like you miss all your consensus numbers but your stock still goes up. Scot: [33:56] Yeah that Shopify totally nailed that one has come very strange but they did it. Jason: [34:00] Um so yeah some of the interesting things in the in the Amazon number. I like to break down those segments you hit the you know the big segments online retail and it obviously. Had a pretty slow rate of growth by Amazon standards but an interesting subset of that is physical stores right so Amazon's got. Eight different retail formats the bulk of them is 500 Whole Foods stores and historically Amazon's physical stores is the one segment that shrinks every quarter right so going back to Q2 of 2020. Physical stores went down Thirty thirteen percent and then 10% in Q3 and then 7% in Q4 and then 16 percent of in q1 of this year and we're just we just got used to seeing that number go down and we all thought it was going down for two reasons, number one Whole Foods was kind of a distressed asset when they bought it and they haven't really improved it in any meaningful way some people would say they've. Diminished it and so like it probably is shrinking and it's the bulk of their the retail sales but then. [35:09] What Amazon has done for Whole Foods is help them sell groceries online and then of course the pandemic help them sell a lot of groceries online, but ironically Amazon doesn't count those whole food online orders as whole food sales they're not physical sales that that those dollars get attributed to Amazon online and not to Whole Foods brick and mortar, so if there's a big. Shift in mix from shopping and store to ordering for home delivery from Whole Foods that actually hurts physical retail sales so for all those reasons we're used to seeing that number go down, last quarter it bounced up ten percent and then this quarter it bounced up 12% so, I have to be honest I'm not exactly sure what's going on their part of it is e-commerce had such a big growth last year that comparatively, read the the rate of retail growth has kind of accelerated brick-and-mortar growth has accelerated a little bit and the rate of e-commerce growth while still higher than brick and mortar has decelerated so that kind of mix, you know maybe as favorable for the way Amazon does accounting for these stores maybe some of the other store concepts are, starting to get more traction like the Amazon Fresh stores perhaps I don't know but. [36:24] It's interesting to see that number going north for the first time in recent memory, of course everyone always talks about AWS being the profitable segments so they sold 16 billion dollars of AWS which was 39 percent growth which was an acceleration and growth so again, that's been kind of growing at 30% of quarter and now you know last quarter at Route 37 and 39 this quarter, um that makes a lot of sense the pandemic drove a lot more people to the cloud and online so you know it's AWS is firing up. [37:00] And then going back to the ads I talked about how big a deal retail ad networks are Will by far the biggest retail ad network is Amazon and they somewhat derogatory to me like Calder the retail ad Network other sales in the in their, and so this was their biggest quarter ever they sold a billion dollars worth of ads for the quarter which is 49 percent growth which is. Actually a significant deceleration Q2 grew at 83 percent right so this number is growing really fast. But the way to think of this is if you add up the last four quarters of their ad sales they sold 30 billion dollars worth of ads if you add up the last four quarters of AWS they sold fifty seven billion dollars worth of server services. [37:51] Think about the cost for that 57 billion dollars worth of server Services they have a bunch of silicone they make their own chips they pay a ton of electricity and they pay rent and people in all this stuff. In order to deliver that aw s right so there's a lot of cost for it to get that fifty seven billion dollars worth of sales. The the the cost of those ads is near zero right like. It's very well and so 30 billion dollars in ad sales I guarantee you is more profitable than fifty seven billion dollars in in server capacity sales and so, like its I said this last quarter but it's even more clear now that the most profitable business that Amazon is now. Um this this ad Network and in their their their investor call and he's sort of address that and he talked about the fact that like hey, we don't really. [38:49] I think internally of breaking out retail sales versus ads versus Marketplace because they are inextricably linked they all need each other, um and you know together they're a super powerful flywheel but like you know they basically recognize that like. Yeah you know we could break even or lose money selling Goods. When we're making a fortune on the 30 billion dollars of ads that we get to sell because of those goods right and and all the seller services for the marketplace half of their sales so. Like you know the the myth that that the retail pirate of Amazon's business is not profitable or less profitable than things like AWS like I think is. Is getting even more exposed and again all those those those businesses AWS and ads are are growing quite healthily at the moment. Scot: [39:42] Yeah it's interesting Colin Sebastian who's a good friend of the show and it's been on many times he pointed out for the one of the interesting. Parts of this quarter is for the first time if you think about Amazon having two pieces of product business and a service business so a Services would be a WS ads, this thing they call merchant services which is kind of FBA and some of the marketplace Revenue goes in there and subscriptions that is now for the first time the revenue from those pieces that quote-unquote Services pieces is bigger than product revenues for the first time ever, and you see it in these numbers right so online stores celebrated a couple other things accelerated but AWS and ads accelerated so it's a really interesting time where that that that kind of Tipping Point happened inside of there. Jason: [40:35] Yeah yeah for sure and then two other takeaways from the earnings call that I thought were Jewels they got asked because you talked about. Advertisers on some of these other platforms like Snap slowing down because of Supply pain right if I don't have products in stock I probably shouldn't be advertising those products, so they got a spike is other going to take it in the shorts and Q4 because advertisers are going to cut back because of Supply pain. Um and Amazon's answer was no that they're not seeing, people getting back on on ads from supplied pain they said like what is likely Gonna Hurt our comps and add sales for Q4 of this year is that Prime day was in Q4 of last year and that there's a lot of, add activity that's driven by Prime day so they said like you know what car comps. Four ads in Q4 maybe not as strong as they ordinarily would be but it's going to be because of the shifting dates of prime day not because. Advertisers are slowing down which is interesting and again Amazon's attracting. The long tail and the the head advertisers whereas like Snap is mostly getting long tail advertisers so. I found that really interesting and then Amazon also said like what. [41:53] Supply chains going to be really challenging and as a result we are incurring a lot of incremental costs but they were very strong that it wasn't going to hurt their revenue number that it was going to hurt profitability, but they felt like they had enough levers to pull and pull those levers, to ensure that they both were going to have enough inventory and that they were going to have enough fulfillment capacity, to deliver on that so they were super confident there and what they call that they said the the. Impairment that's going to be the most hard for them to overcome this quarter is not inventory it's not Logistics it's labor, right and that's the one that they felt like was the hardest for them to overcome is they've got huge turnover they're trying to hire a bunch of people and the cost to hire them are just you know skyrocketing because there's you know constrained pool of people willing to work and, and they're able to command a lot more for their their labor right now. Scot: [42:50] Yeah Jesse basically said that they're getting back in he she basically said I want to remind everybody this is a second quarter a CEO that one we have to choose short-term profit over long term customer experience we will lose money for for we will invest in long-term customer experience, Wall Street that is like we're entering into one of these investment phases usually they get kind of excited by it because usually ratchets, the orbit Amazons in up in the profit kind of spills over after about 18 months or so but there really wasn't a lot of enthusiasm this time so that was interesting, and then you know I mentioned the operating profit was about 4 billion their forecast for 4th quarter of the actually they do you know unlike most companies right now that are just like we have no idea what the heck's going to happen when I put out a fourth quarter forecast Amazon did, and they basically said the bottom line it could be between zero and two billion well that was like you know again that that's a very strong signal they're going to be spending a lot of money in the billions. And in fact they add a little color and said we see several billion dollars of additional costs related to and they put them in this order labor shortages higher wages, Global Supply Chain issues ETC but then they said they still need to hire 250,000 people for holiday and they're going to do whatever it takes because they won't be able to deliver and execute unless they have them. Jason: [44:14] He used an interesting metaphor he said like. That you know they just decided it wouldn't be customer Centric or in their long-term interest to raise prices or fees, and so he's like we really think of ourselves as a shock absorber and we are going to take the hit on all of these incremental costs for both our customers and our Marketplace sellers, um because we think in the long term that's going to strengthen the flywheel so I mean he was pretty like the you know there was not a lot of subtlety about the fact that like. You know it's going to there's going to be a lot of incremental costs to win this holiday but they're going to win the top line and not worry so much about the bottom line. Scot: [44:56] What else did you get from the Amazon call. Jason: [44:59] Those those were the big things one other thing that's interesting to me is. You know everybody's struggling to figure out digital grocery right now and saw the unit economics but there's this other tidal wave behind that that will call ultra-fast delivery and we've talked about a little bit on the show but they're all these firms. Go puff most notably but Joker and gorilla and all these firms like coming out with these. 30 minute or 15 minute delivery promises for a constrained set of products and one of the analysts ask Amazon like. You've always done really well against the your traditional retail competitors in terms of, of logistics but are you worried at all about these guys that are being like purpose-built for like a speed that's faster than your usual service level and it got a pretty arrogant answered I would say he's like. We really like our model we have a hundred and seventy eight thousand skews right now that are available for two hour or faster delivery and that's a lot more excuse to a lot more consumers than any of those companies. It was it was you know like I think obviously that is a space Amazons going to watch closely in play in but the. What's almost happening is they're just ratcheting up the service level for so many products I'm like when I you know Chicago is a advanced market for Amazon but when I put stuff in my cart now I get two options for same-day delivery. Scot: [46:29] Are you getting that like morning and then like there's like an insane one just like 4 a.m. Jason: [46:33] 4 a.m. to 8 a.m. yeah and it works like I wake up and there's stuff like at my front door. Scot: [46:39] Wow. Jason: [46:40] Pretty you know I wouldn't say perfectly but pretty reliably and so again like you know if I would have before noon there I have two windows often to pick. Products and I'm not having to go to some separate experience and Shop from some constraint set of products or things like that like I think the the universal experience in Universal cart and the move away from Amazon Prime now and all these separate experiences like, I do think in a way like Amazon is solving for ultra-fast delivery but they're just one generation more mature than any of these you know new companies. Scot: [47:14] Okay anything else there. Jason: [47:18] That is it on Amazon what did you have any other takeaways there's one other IPO that I thought was interesting this week. Scot: [47:24] Well then it was really weird because after the market closed we're all adjusting that and then Facebook's like hey everybody we're changing our name to Metta and then they put out this logo that looks like a warped eight on its side or like the infinity symbol that's been bent and you just look at it you're like I bet they spent eight hundred thousand dollars on that logo and you know there's. Jason: [47:47] Any amount of money spent on branding and Logo generation is well invested hashtag publicist. Scot: [47:52] Okay yes true true yes absolutely call Jason if you need new logo did you guys do that logo for. Jason: [47:59] I can neither confirm nor deny we did. Scot: [48:03] I love it sorry I love it. Jason: [48:03] Not because I'm being not because I'm being stealthy I just honestly don't know it's totally possible that we did. But I don't know but we certainly do a lot of great branding work including the Amazon logo so fun. Scot: [48:16] The chief the chief branding digital logo officer doesn't know what logos you're doing. Jason: [48:22] No but the way more talented people at Turner Duckworth would probably be able to tell us. Scot: [48:27] Okay cool what IPO did you say. Jason: [48:30] Yeah so have you been following their Rent the Runway IPO at all. Scot: [48:33] I have yeah. Jason: [48:35] Yeah so this is pretty interesting so. Digitally native company unlike a lot of the other digital native Brands that's kind of in the the re Commerce space right because they're they're buying a parallel and and renting it to Consumers, and they have been one of the the. Most hyped digitally native Brands because in general rental models can be like extra profitable you buy something once and you rent it a bunch of times, old Mentor mine Wayne huizenga used to do that with videos and he made a lot of money in that space and trash cans and other things. So it was interesting to both see their financials and then they actually have their IPO this week. So and it's a very. [49:23] I'll call it a bifurcated story so it's an 11 year old company they've raised over seven hundred million dollars in venture capital and their, wildly unprofitable coming into this IPO, so they lost a hundred and fifty four million dollars in 2020 they're forecasting to lose a hundred seventy 1 million dollars in 2021, um and of course they're in like the worst possible business case for covid right like they're they're renting apparel to women to wear to parties and to work, and two things no one did in 2020 is go to a party or go to work right so. [50:02] You know they historically they would have like hung their hat on having all this subscriber revenue and their subscribers basically got cut in half by covid their last 42 percent of their active subscribers the revenue drop from, hi in 2019 of 257 million 258 million in 2020 so covid really hit them. And you know you go man that it feels like they're kind of limping into the IPO and I want to talk about how that IPO went for them but two other interesting facts before we talk about that, one thing I thought was really interesting and and. Arguably like the one favorable thing and all of their financials is how they get the inventory that they're renting so, a catastrophic piece of news is that their inventory is way more fragile than I would have expected right so they they rent you know one of those garments six times and then they usually have to retire so they're not getting like. Tons of reuse about around each of these garments but thirty-six percent of their rental inventory. Is Rev share with designers so what that means is instead of buying it at the wholesale price and then them renting it a bunch of times, they're getting it free or at a very low cost from the design house and then they're sharing the profits with those those those brands. [51:26] That's frankly exactly how the video rental business grew like in the early days of Blockbuster we bought videos and rented them and later on you know we did rev share agreements with all them the movie studios and that. [51:38] Let you get a lot more inventory a lot more affordable. Um also surprising to me eighteen percent of their inventory is private label which I would have thought like a big part of the value prop of Rent the Runway was all these well-known designer Brands so I was surprised to hear they're able to get away with you know almost one out of four five garments being. [51:56] Being private label so that was interesting and then the last piece of catastrophic news is as bad as their finances look the accountants looked at it and threw up even more because, I mentioned that this inventory gets really perishable and and they have to throw it away well the what they did all their finances without including any depreciation of their inventory so, invented a new flavor of ebay.com bike ibadah before inventory depreciation and you know those if you were to actually put the depreciation on their books. The those losses I just read to you would be even much higher so. So mostly like a pretty negative look at the company going into this IPO and then I want to say they did the IPO at 21 and immediately the stock went up and they hit a high of 23 and everyone's like wow in spite of all this horrible finances. They're having a big IPO and then as the day went on the price started dropping down and now I want to say it's about 18 18 bucks and 85 cents so, you know pretty significantly down from that $23 offer. [53:16] Like Scott in your mind is like let's call it ten percent like is that a. An acceptable IPO is that a disaster does it surprise you given their finances that they were able to do an IPO at all. Scot: [53:30] Yeah and you know one of the ways I look at it is let's look at the valuation so they're doing a hundred and fifty eight million ish last year and we don't have enough data this year to kind of know there haven't really materially improved since then so let's say let's be generous and say they'll do 200 million this year they're at a billion market cap so 5x for a business that. You know has all the kind of the negatives you're outlined there. You know the they're not getting as much use of the Garment as you would think I think our friend Dan McCarthy is at MacArthur, McCartney or McCarthy McCarthy yeah he he kind of picked apart their Co hard data and it looks like they have pretty high churn, yeah I actually think it was kind of a win because that's a pretty good valuation for this snapshot in time. [54:24] Pricing IPOs is tricky because you want to kind of price it where you get a little bit of a pop but maybe ten to twenty percent up, but if you get more than at the company you're kind of sitting there saying we just sold a bunch of stock at a discount and that wasn't great now the good news is your hopefully you know you haven't sold the majority of your stock so you sold maybe 10% and I have like 90% that's worth more so it's. It's you're not going to totally cry over it cushions the blow yet going down isn't isn't a good look and it doesn't Kate that know a lot a fair amount of weakness as people you know maybe they got excited and they're coming yeah I think I'm gonna I'm going to kind of limit my maybe they sold half of it you also and I peel you're trying to place the stock with people that will hold it long term so the fact is down means that didn't really work that people were just trying to flip it for a quick buck. Jason: [55:17] Yeah one other side note like a lot of people were optimistic for this IPO because this like re Commerce model like it's you know potentially better for the environment, and looking at the economics it actually ends up that this is probably worse than like buying disposable apparel from H&M because like the the reverse Logistics of moving this stuff around so many times and then like having to throw it away pretty quickly and like you know weaning into the fashion trends and stuff becoming obsolete as new trends emerge like it all it all netted out to like it wasn't a very favorable ecologically story either. Scot: [55:58] Yeah well we'll see a for effort. Jason: [56:02] Yeah I mean my big takeaway again like there's there's going to be some interesting digital native companies but like this this myth that that is fundamentally an advantage model and that all these companies are doing great like this is one of the companies a lot of before there was any public data available everyone's like oh I think there's a billion dollars and they've got all this sticky reoccurring rental subscription Revenue so they're probably wildly popular and their costs are super low because they're renting the same garment over and over again so I this is an amazing business and then you know when you get to look under the covers why no it's not so you know I just I would just say, you can absolutely build a good digitally native business but like it's not a good business just because you're a digitally native vertical brand. Scot: [56:47] Yeah one for listeners yet as you know one of my favorite hobbies is I really love to watch The Road Show presentations but they're only out there for like a week or so all birds is on the road right now so that one is available and you have to go to Retail Road show.com and get from this list and watch it, it was one of the better ones I've seen in a long time the video they did the with the founders had like a cheekiness to it that was kind of unusual usually these. Jason: [57:16] Talking about the Auburn's one right because Rent the Runway is on there right now or was on their last week too. Scot: [57:21] Yeah it's on sadly it's faced off yeah the all birds one is really really good so I recommend folks watch that one and then I just saw that NerdWallet hit and I'm kind of interested to see how they talk about that one. Jason: [57:33] Yeah that has been entertaining TV I watch those videos on my my Peloton now. Scot: [57:41] Nice. Jason: [57:43] When I'm not listening to Amazon earning calls. Well Scott is happen again we have perfectly used up all our lot of time but hopefully people found some value in this recap and if you did as always we sure would appreciate it if you jump on the iTunes and give us that five-star review. Scot: [58:03] Yeah thanks everybody and until next time. Jason: [58:06] Happy Commercing!
Photo: Achaemenid king killing a Greek hoplite Tehran attacks. Richard Goldberg @rich_goldberg, and Behnam Ben Taleblu @FDD https://breakingdefense.com/2021/10/drone-attack-in-syria-may-be-warning-of-things-to-come/ Richard Goldberg @rich_goldberg, senior advisor, Foundation for Defense of Democracies. Behnam Ben Taleblu, @FDD, research Fellow at the Foundation for Defense of Democracies, focussed on Iranian security and political issues.
Photo: . . . Timur then headed west to capture the Zagros Mountains [in modern-day Iran], passing through Mazandaran. During his travel through the north of Persia, he captured the then-town of Tehran, which surrendered and was thus treated mercifully. He laid siege to Soltaniyeh in 1384. Khorasan revolted one year later, so Timur destroyed Isfizar, and the prisoners were cemented into the walls alive. Here, a reconstruction of Timur's face by a Russian Forensic expert, M.Gerasimov. 1941. Tehran promises little. Richard Goldberg@rich_goldberg, and Behnam Ben Taleblu @FDD https://www.theguardian.com/world/2021/oct/27/iran-says-it-will-resume-nuclear-negotiations-by-end-of-november .. Permissions Timur. Forensic facial reconstruction by M.Gerasimov. 1941 Date | August 2008 / Source | Own work / Author | user:shakko | This work is free and may be used by anyone for any purpose. If you wish to use this content, you do not need to request permission as long as you follow any licensing requirements mentioned on this page.The Wikimedia Foundation has received an e-mail confirming that the copyright holder has approved publication under the terms mentioned on this page. This correspondence has been reviewed by a Volunteer Response Team (VRT) member and stored in our permission archive.
Solomonster reviews WWE Crown Jewel 2021 (Sweet Saudi Money 6) from Riyadh, the best of all the Saudi shows they have done so far. Edge and Seth Rollins delivers a fantastic finale to their trilogy of matches, King and Queen of the Ring are crowned, Goldberg fails to kill Bobby Lashley and Paul Heyman causes drama in the Universal title match between Roman Reigns and Brock Lesnar. This review is sponsored by The Ridge Wallet. Visit http://ridge.com/solomonster and use the code SOLOMONSTER for 10 percent off your order!
Photo: .Contingency: A cargo pallet assigned to the 621st Contingency Response Wing at Joint Base McGuire-Dix-Lakehurst, N.J., aboard a C-17 Globemaster III here, Oct. 28, 2012. The equipment belonged to an air mobility contingency response team of approximately 65 airmen from the JB MDL-based 621st Contingency Response Wing. It was being relocated to MacDill Air Force Base, Fla. out of the path of Hurricane Sandy to ensure Air Mobility Command maintains the capability to respond to natural disasters or worldwide contingencies. (U.S. Air Force photo by Tech. Sgt. Parker Gyokeres) CBS Eye on the World with John Batchelor CBS Audio Network @Batchelorshow What kind of Plan B? @RichGoldberg and Behnam Ben Taleblu, @FDD https://www.fdd.org/analysis/2021/10/20/what-iran-has-learned-from-bidens-afghanistan-debacle/
Photo: Liberty, accompanied by Fortitude, reaches out to Peace and Concord. In the background the Temple of Reason. In the foreground is the Human Love, pointing to a tablet on which 'the Rights of the Man'. Two angels in the sky. What is Plan B? Richard Goldberg, @rich_goldberg, @FDD ; and Orde F. Kittrie @ordefk https://thehill.com/opinion/international/577044-us-rejoining-un-human-rights-council-what-it-should-do-first?rl=1 Richard Goldberg is a senior advisor at the Foundation for Defense of Democracies (@FDD), @rich_goldberg Orde F Kittrie is a senior Fellow at the Foundation for Defense of Democracies, law professor at Arizona State University, and author of Lawfare: Law as a Weapon of War. Follow him on Twitter @Ordefk
Photo: The Israelites mourn the death of Moses. In the background the burial of Moses on a hilltop by two angels (Deut. 34:8). The print has a Hebrew, Latin, French, English, German and Dutch caption. Can SecState Blinken reform the anti-Israel UNHRC? Richard Goldberg, @rich_goldberg, @FDD ; and Orde F. Kittrie @ordefk https://thehill.com/opinion/international/577044-us-rejoining-un-human-rights-council-what-it-should-do-first?rl=1 - Richard Goldberg is a senior advisor at the Foundation for Defense of Democracies @FDD, @rich_goldberg - Orde Kittrie is a senior Fellow at the Foundation for Defense of Democracies, law professor at Arizona State University, and author of Lawfare: Law as a Weapon of War. Follow him on Twitter @Ordefk