Podcasts about google microsoft

Aujourd'hui, on se penche sur une nouvelle bataille dans le monde du cloud computing. Google vient de déposer une plainte la semaine dernière contre Microsoft devant la Commission européenne. Et cette action risque de faire beaucoup de bruit. Google accuse Microsoft de pratiques anticoncurrentielles, en poussant ses clients à utiliser son service cloud Azure. Et ce au détriment des plateformes concurrentes comme Google Cloud ou AWS, le cloud d'Amazon.Que reproche exactement Google à Microsoft ?Premièrement, il y a les conditions de licences logicielles. Selon Google, les entreprises qui utilisent des logiciels comme Windows Server doivent payer jusqu'à 400% de plus si elles choisissent de les héberger sur un cloud concurrent d'Azure.Et ça ne s'arrête pas là. Ces entreprises seraient également confrontées à des limitations importantes, notamment en termes de correctifs de sécurité.En gros, selon Google, Microsoft aurait tout fait pour rendre difficile, voire impossible, le passage d'Azure à une autre plateforme, créant ainsi un verrouillage des clients.La question des "barrières d'interopérabilité"Depuis 2019, Microsoft aurait mis en place de nombreuses restrictions pour rendre l'utilisation de ses logiciels sur des plateformes autres que la sienne de plus en plus compliquée.Un exemple ? Imaginons une entreprise qui utilise Google Cloud pour héberger ses données mais qui a besoin d'utiliser des services Microsoft comme Office ou Windows Server. Eh bien, cette entreprise pourrait se retrouver avec des coûts supplémentaires et des problèmes techniques liés à cette interopérabilité limitée.Enfin, il faut rappeler que cette bataille entre Google et Microsoft ne date pas d'hier.Les deux géants se livrent une guerre sur le terrain de la concurrence depuis plusieurs années. Microsoft avait même témoigné contre Google aux États-Unis, l'accusant d'avoir bloqué l'essor de moteurs de recherche concurrents.Et on se souvient aussi des amendes infligées à Google par l'Union européenne dans les années 2010 pour abus de position dominante dans la recherche en ligne."Activisme judiciaire"Pour Microsoft, cette plainte n'est rien d'autre que de "l'activisme judiciaire".Le groupe assure qu'il a déjà trouvé des accords avec des fournisseurs de cloud européens sur des questions similaires. Mais Google semble bien décidé à aller au fond des choses.A noter que l'Europe enquête déjà sur Microsoft concernant d'autres pratiques, notamment l'intégration de Teams dans ses logiciels de bureautique.Hébergé par Ausha. Visitez ausha.co/politique-de-confidentialite pour plus d'informations.

Kenner French discusses the current state of the AI market, emphasizing the dominance of Microsoft and Google. He explores the implications of their control over AI technology and the potential future landscape, including the role of open source and regulatory measures. The conversation highlights the importance of understanding who controls AI and the impact on consumers and businesses. Takeaways • AI is revolutionary and will change businesses. • Microsoft and Google are the primary controllers of AI. • Open source AI lacks safety parameters. • Regulation will likely favor Microsoft and Google. • The future of AI control is uncertain. • Consumers need to be aware of AI control dynamics. • AI technology is already integrated into daily life. • Understanding AI market dynamics is crucial for entrepreneurs. • The conversation around AI regulation is ongoing. • The influence of major tech companies on AI is significant. Sound Bites • Microsoft controls the AI market and Google. • Everyone else is a splinter group. • Google and Microsoft are providing value in AI. If you have any questions in general you can reach our office at: VastSolutionsGroup.com Phone: 415-212-8189 Email: info@vastsolutionsgroup.com Monday-Thursday 8:00 AM – 5:00 PM (Pacific) Thank you for listening!

Join Michelle Martin in her smart roundup of markets with Ryan Huang. This episode dives into the latest institutional trading moves, highlighting Singapore Airlines, Digital Core REIT, and SunMoon Food. Explore Big Tech's new strategies with Google, Microsoft, and Amazon, and the market performance of Eli Lilly, Meta, Walmart, and Home Depot. The discussion wraps up with insights on E.l.f. Beauty, Ola Electric, Restaurant Brands, Temu, and SGX, providing a comprehensive market overview for the week.See omnystudio.com/listener for privacy information.

The Personal Computer Show Wednesday July 31st 2024 PRN.live Streaming on the Internet 6:00 PM Eastern Time IN THE NEWS  USPS Shared Customer Postal Addresses with Meta, LinkedIn and Snap  Passwords Disappear for Millions of Windows Users Thanks to Google Microsoft says EU rules Made CrowdStrike Outage Possible  Astronauts Stuck in Space by Malfunctioning Boeing Spacecraft  Charter Loses 393,000 Video Subs in Second Quarter ITPro Series with Benjamin Rockwell  Is it Right to Use AI in Our Jobs? From the Tech Corner  How to Revive Your Broken USB Flash Drive  A History of HDDs and SSDs Technology Chatter with Benjamin Rockwell and Marty Winston  OWC Envoy Pro Mini, Gourmia Espresso Maker 

A Daily chronicle of AI Innovations May 30th 2024:Microsoft is worried about OpenAI's deal with AppleMistral announces Codestral, a code-generation LLM it says outperforms all othersFBI dismantles the 'largest botnet ever'OpenAI's news deals continue, with Vox and the Atlantic signing onGoogle infuses Chromebook Plus with powerful AI featuresSubscribe for weekly updates and deep dives into artificial intelligence innovations.✅ Don't forget to Like, Comment, and Share this video to support our content.

【PR】NordVPN下記のリンクからお申し込みいただくと、サブスクリプション費用が大幅割引！さらに今なら4か月分が延長されます。30日間の全額返金保証もあるので、この機会にぜひお試しください。▼詳細はこちらからhttps://nordvpn.com/backspace▼クーポンコードbackspace*クーポンコードはチェックアウト時にご入力ください*上記URL経由では自動でクーポンが反映されます概要今回のエピソードでは、松尾さんとドリキンがアニメ『マッハGoGoGo』や最近のアニメ視聴について話し合いました。クランチロールやVRチャットなどのアニメ関連サービスについても言及し、最新のアニメ作品や視聴方法についての意見交換が行われました。さらに、OpenAIの新しい技術GPT-4Oについての発表に触れ、音声と画像を同時に処理できるマルチモーダルなAIの特徴や、無料ユーザーと有料ユーザー向けの機能の違いについても議論しました。GPT-4.0の進化によって、チャットGPTの限界やユーザーインターフェースの進化がどのように影響を受けるかについても考察されました。AI技術の進化に伴い、ユーザーエクスペリエンスが大きく変化していることも取り上げられました。OpenAIがリードする中、GoogleやMicrosoftなどの競争も激化しており、AIのユーザーインターフェースの進化が従来のユーザーエクスペリエンスとは異なる新しい時代を迎えつつあります。さらに、GPT-4.0の新しい音声モデル「SKY」がスカーレット・ヨハンソンの声に似ているとの指摘があり、MyGPTのプログラミングタスクにおける有用性についても話されました。これにより、AIツールがプログラマーの生産性を向上させ、カスタマイズされたソリューションの作成に役立つ可能性が強調されました。また、プログラマーとしての役割や仕事の変化についても議論が進みました。AI技術の進化により、プログラムのデバッグや最適化よりも、新しいアイデアや設計に集中することの重要性が増していることが指摘されました。AIによる自動化が進むことで、動画編集や音楽作成のプロセスも簡素化され、クオリティが向上する可能性があると期待されています。最後に、Apple製品についての議論も行われ、M4 Macや新しいApple Pencilに関する意見が交わされました。安定運用と新しいアイデアの両立についても話し合われ、今後の技術進化がどのように影響を及ぼすかについての見解が共有されました。関連リンクOpenAI、ChatGPTの新バージョン「GPT-4o」を発表。無料ユーザー向けにも提供、感情豊かな音声で応答、歌いながら回答も | テクノエッジ TechnoEdgex.com/kenn/status/1793907768577139139GeminiがYouTube動画を一瞬で要約してくれるようになった（しかも無料） | ライフハッカー・ジャパンレギュラースポンサーこの番組はフェンリル株式会社の提供でお届けしております。backspace専用マストドンインスタンス、通称グルドンはさくらインターネットのサポートを受けて運用しています。backspace.fmでは我々の活動を応援してくれるスポンサーを募集しています。興味がある方はぜひこちらにて連絡ください！drikin+backspacefm@gmail.comこの番組は Riverside.fm を使ってリモート収録しています。 Riverside.fmはビデオ通話をしながら高音質ファイルを同時に収録することができる、ポッドキャストなどのリモート収録に特化したサービスです。興味がある方はぜひこちらをチェックしてみてください。https://bit.ly/RiversideFM_BackspaceChapters00:00 マッハゴーと秘密メカ13:42 クランチロール：日本のアニメ配信サービス21:13 『週刊少年ジャンプ』のランキングとおすすめ作品23:27 おすすめアニメ作品34:34 GPT4 .0の発表49:06 チャットGPTの限界とユーザーインタラクションの課題52:08 LLMのテキスト以外の情報利用と高度なユーザーインタラクション55:42 OpenAIの先行車利益とユーザーインタフェースの完成度58:26 GoogleやMicrosoftとの競争01:03:22 The Versatility of MyGPT in Video Editing and API Integration01:06:04 Simplifying Programming Tasks with MyGPT and FFmpeg01:09:03 MyGPT as a Domain-Specific and Natural Language Search Engine01:15:03 The Impact of AI Tools on Productivity and Development01:39:09 自動運転とプログラミングの類似点01:41:12 プログラマーのパフォーマンスへのこだわりの変化01:43:13 動画編集と楽しむ01:46:06 自動化による効率向上01:48:28 動画生成の自動化01:52:15 AIの進化と未来01:56:41 AIネイティブの未来01:59:34 人間の好奇心02:07:17 MacとiPadの役割についての議論02:13:22 AIの進化と新たなビジネス・アートの可能性02:19:11 Sakura Internetの紹介See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Diese Folge von Tensorraum wirft ein Licht auf die spannenden Entwicklungen im Bereich der KI-Hardware, mit einem besonderen Blick auf die Akteure Nvidia & Groq. Arne und Stefan diskutieren die unersetzliche Rolle der Rechenleistung für die Fortschritte in der künstlichen Intelligenz, insbesondere wie Groq mit seinen innovativen Strategien und dem Bau eines Datencenters in Norwegen die Branche vorantreiben möchte. Gleichzeitig beleuchten sie Nvidias festen Stand beim Trainieren von KI-Modellen und diskutieren die zukünftigen Konkurrenzkämpfe. Ein weiteres spannendes Thema ist die Rolle der CEOs in der Technologiebranche, deren öffentliche Auftritte und Entscheidungen maßgeblich die Richtung ihrer Unternehmen bestimmen. Darüber hinaus betrachten sie die zukünftigen Möglichkeiten, die sich aus der Verbreitung verteilter Agenten und der Integration von großen Sprachmodellen (LLMs) ergeben, die das Potenzial haben, die Interaktion zwischen Mensch und Maschine neu zu definieren. Abgerundet wird die Diskussion durch eine Analyse der Positionen von Google, Microsoft und Apple in der sich rasch entwickelnden KI-Landschaft und wie diese Technologie Giganten durch Strategien und Partnerschaften ihren Einfluss im Sektor zu vergrößern suchen. Links zur Folge:  Jensen Huang & Sam Altman Groq Earth Wind & Power Das Datencenter in Norwegen Das Paper über benutzerzentrierte Benchmarks für LLMs Gebt uns gerne Feedback Email: info@tensorraum.de Links zu uns:  https://www.tensorraum.de Stefan Wiezorek: https://www.linkedin.com/in/stefanwiezorek/ Dr. Arne Meyer: https://www.linkedin.com/in/arne-meyer-6a36612b9/ 00:00 Intro & Teaser 02:09 Nvidias GPUs 07:39 Groqs LPUs  10:12 Die Rolle von Agenten 19:22 Earth Wind & Power und Groq Datencenter in Norwegen 27:27 Stefan's Use-Case Benchmark 36:19 Strategische Positionierung von Google, Microsoft & Apple 40:47 Open Source und Transparenz in der KI-Entwicklung 55:39 Abschluss und Ausblick

Hoy tenemos un podcast donde destacamos las novedades en el mundo de la IA y no todo va a ser bueno.... el rabbit r1 es una castaña... También hablamos de Apple, Google Microsoft y de lo que nos da la gana. Para mas información: www.frikismopuro.com Link Amazon: https://amzn.to/35q5ixk Canal Telegram de comentarios: https://t.me/FrikismoPuro_Comentarios

Leading global tech analysts Patrick Moorhead (Moor Insights & Strategy) and Daniel Newman (The Futurum Group) are front and center on The Six Five analyzing the tech industry's biggest news each and every week and also conducting interviews with tech industry "insiders" on a regular basis.    Welcome to this week's edition of “The 6-5.” I'm Patrick Moorhead with Moor Insights & Strategy, co-host, and I am joined by Daniel Newman with The Futurum Group. On this week's show, we will be talking:   Google Q1/24 Earnings  https://twitter.com/danielnewmanUV/status/1783592718712668547 https://x.com/PatrickMoorhead/status/1783651113767706925  https://abc.xyz/assets/91/b3/3f9213d14ce3ae27e1038e01a0e0/2024q1-alphabet-earnings-release-pdf.pdf https://finance.yahoo.com/news/alphabet-earnings-preview-all-eyes-on-ai-investments-ad-market-growth-as-meta-disappoints-142011581.html   Microsoft Q3/24 Earnings  https://x.com/PatrickMoorhead/status/1783642788409888806  https://twitter.com/danielnewmanUV/status/1783589533725958356 https://www.microsoft.com/en-us/investor/earnings/fy-2024-q3/press-release-webcast https://www.microsoft.com/en-us/Investor/earnings/FY-2024-Q3/performance   ServiceNow Q1/24 Earnings  https://twitter.com/danielnewmanUV/status/1783231711490302031 https://www.servicenow.com/company/media/press-room/first-quarter-2024-financial-results.html   SAP Q1/24 Earnings https://twitter.com/danielnewmanUV/status/1782746698625737023 https://twitter.com/PatrickMoorhead/status/1783309345779814513 https://news.sap.com/2024/04/sap-announces-q1-2024-results/   Meta Q1/24 Earnings https://twitter.com/danielnewmanUV/status/1783239579463553395 https://investor.fb.com/investor-news/press-release-details/2024/Meta-Reports-First-Quarter-2024-Results/default.aspx   IBM Q1/24 Earnings https://x.com/PatrickMoorhead/status/1783319862950998392    Intel Q1/24 Earnings  https://x.com/PatrickMoorhead/status/1783635930894782641  https://twitter.com/danielnewmanUV/status/1783596972236050773 https://twitter.com/danielnewmanUV/status/1783600304577012055 https://www.intc.com/news-events/press-releases/detail/1692/intel-reports-first-quarter-2024-financial-results https://finance.yahoo.com/news/intel-earnings-135825817.html   Disclaimer: This show is for information and entertainment purposes only. While we will discuss publicly traded companies on this show. The contents of this show should not be taken as investment advice.

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off.  For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities. See omnystudio.com/listener for privacy information.

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off.  For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities. See omnystudio.com/listener for privacy information.

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off.  For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities. See omnystudio.com/listener for privacy information.

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off.  For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities. See omnystudio.com/listener for privacy information.

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off.  For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities. See omnystudio.com/listener for privacy information.

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off.  For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities. See omnystudio.com/listener for privacy information.

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off.  For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities. See omnystudio.com/listener for privacy information.

Microsoft and Google parent Alphabet are both on the rise after delivering results that suggest their investments in artificial intelligence and cloud computing are starting to pay off.  For more on the results Bloomberg's Nathan Hager caught up with Gene Munster, managing partner at Deepwater Asset Management and Dan Ives, Senior Equity Analyst at Wedbush Securities. See omnystudio.com/listener for privacy information.

ABD piyasalarına yönelik ekonomi haberleri, yani akşam bültenimiz yayında! Bugünkü bültenimizin menüsünde; Google, Microsoft ve Intel'in bilanço detayları, NBA yayın haklarını almak için yarışan Amazon ve Youtube, altına yönelik güncel görünüm yer alıyor. Akşam bülteni serimizde bahsi geçen haberleri okumak isterseniz, getmidas.com/midasin-kulaklari adresindeki haberlerimize göz atabilirsiniz. Midas uygulamasını indir: https://app.getmidas.com/gmih/mie6gpeu Midas'ın Kulakları: https://www.getmidas.com/midasin-kulaklari Twitter: https://twitter.com/getmidas Instagram: https://www.instagram.com/get_midas/ Not: Bu içerik, içeriğin yayınlandığı günkü veriler ve haberler baz alınarak hazırlanmıştır. Eğer varsa içerikte geçen hedef fiyat tahminleri, uzman ve analist yorumları bu içeriğin yayınlandığı tarihte geçerlidir. Bu tahmin ve yorumlar zaman içinde değişkenlik gösterebilmektedir. Bu podcast'te yer alan haberler ve haberlerin içerdiği şirketler hakkındaki bilgiler yatırım danışmanlığı kapsamında değildir. Bahsi geçen hisselerdeki; hisse adı, fiyatı ve grafikleri de dahil temsilidir, yatırım tavsiyesi değildir.

Lena, XZ, WallEscape, AT&T, OWASP, Google, Microsoft, AI, Josh Marpet, and more, on this Edition of the Security Weekly News. Visit https://www.securityweekly.com/swn for all the latest episodes! Show Notes: https://securityweekly.com/swn-374

Lena, XZ, WallEscape, AT&T, OWASP, Google, Microsoft, AI, Josh Marpet, and more, on this Edition of the Security Weekly News. Show Notes: https://securityweekly.com/swn-374

Lena, XZ, WallEscape, AT&T, OWASP, Google, Microsoft, AI, Josh Marpet, and more, on this Edition of the Security Weekly News. Visit https://www.securityweekly.com/swn for all the latest episodes! Show Notes: https://securityweekly.com/swn-374

Lena, XZ, WallEscape, AT&T, OWASP, Google, Microsoft, AI, Josh Marpet, and more, on this Edition of the Security Weekly News. Show Notes: https://securityweekly.com/swn-374

Googles KI-Suche empfiehlt betrügerische Websites Google bekämpft KI-Spam in Anzeigen Microsoft-Studie untersucht, ab wann KI als nützlich wahrgenommen wird OpenAI testet neue ChatGPT-Funktionen Und US-Unternehmen investieren massiv in K heise.de/ki-update https://www.heise.de/thema/Kuenstliche-Intelligenz https://the-decoder.de/ https://www.heiseplus.de/podcast https://www.ct.de/ki

Perplexity AI is a search startup that's looking to take on Google by solving the inadequacies of searching the web. They are nearing unicorn status with a valuation of around $1 billion. Microsoft is being sued by The New York Times for copyright infringement and abusing the newspaper's intellectual property in training LLMs. Microsoft accuses the Times of "unsubstantiated" claims and compares the lawsuit to Hollywood's resistance to the VCR in the 70s. A new paper introduces the concept of General Computer Control (GCC), which is the idea of building agents that can master any computer task by taking only screen images and producing keyboard and mouse operations as output. The authors propose a framework called Cradle that has strong reasoning abilities to ensure generalizability and self-improvement across various tasks. A paper evaluates different tokenizer inference methods and their impact on the performance of downstream NLP tasks. The authors found that for the most commonly used tokenizers, greedy inference performs surprisingly well, and a recently-introduced contextually-informed tokenizer outperforms all others on morphological alignment. Contact:  sergi@earkind.com Timestamps: 00:34 Introduction 01:23 Perplexity Poised To Become Latest AI Startup To Hit Unicorn Status — Report 02:53 Microsoft compares The New York Times' claims against OpenAI to Hollywood's early fight against VCR 04:41 Training great LLMs entirely from ground zero in the wilderness as a startup 05:49 Fake sponsor 07:39 Towards General Computer Control: A Multimodal Agent for Red Dead Redemption II as a Case Study 09:15 Design2Code: How Far Are We From Automating Front-End Engineering? 11:01 Greed is All You Need: An Evaluation of Tokenizer Inference Methods 12:49 Outro

2024 год только начался, а мы уже видим серию массовых увольнений. Почти 25 000 человек были уволены в первые дни января по версии Layoffs.fyi. Вчера Microsoft сократил 1900 человек из игровых подразделений Blizzard и Xbox. Самые "сочные" увольнения этого года: - Microsoft 1900 - SAP 8000 - Ebay 1000 - Wayfair 1650 - Google 1000 - Riot Games 530 - Twitch 500 - Unity 1800 Обсудили в прямом эфире Воскресной комбучи 01/28/24. Смотреть видео https://youtube.com/live/JoU-L2fWPEs Записаться на карьерную консультацию (резюме, LinkedIn, карьерная стратегия, поиск работы в США) https://annanaumova.com Гайд "Идеальное американское резюме" https://go.mbastrategy.com/usresume Гайд "Как оформить профиль в LinkedIn, чтобы рекрутеры не смогли пройти мимо" (предзаказ) https://link.coursecreator360.com/widget/form/ObfVCQ2clIWTdNcQBAkf Мой Телеграм канал: https://t.me/prodcastUSA ⏰ Timecodes ⏰ 0:00 Начало. 8:45 Разбор январский лейоффов 35:22 Вопросы из чата 48:06 Про политику компаний "Все в офис" 54:53 Канада как альтернатива США 59:48 Healthcare и удаленка 01:02:05 Когда закончатся лейоффы?

Dan is a seasoned design executive who's led teams at Microsoft, Google, UnitedHealth Group, Walmart, and Lloyd's, among others. From working on the Surface Tablet, starting Project ARA at Google, leading the efforts to redesign Walmart.com, and more recently writing his own book, Uplifting Design, Dan believes in the importance of Design at the core of any business, and that's what we're talking about today. We also chat in detail about how his design team has doubled conversion for walmart.com, and about why he believes that you should look at your career from a perspective of two year stretches.Timestamps:00:00 – Intro02:42 – Dan's journey into Design04:06 – Why Dan thinks Design is at the core of business09:11 – The forces that come down to devalue Design15:51 – Companies that show Design matters23:24 – Designing software vs. hardware and how compassion fits into this42:54 – On the redesign of Walmart.com51:29 – Dan's new book, Uplifting Design56:08 – Managing your career in two-year stretches01:04:18 – End of show questionsConnect with DanLinkedIn, Uplifting.Design, WebsiteSelected links from the episodeNeolMcKinsey Design ReportFuelling Creative Renewal Report

Learn more about speakers here https://www.linkedin.com/events/firesidepmpanel-productmanageme7148097303470354433/theater/

Наконец-то начались продажи Cybertruck. То есть как начались... Да и тот ли это Cybertruck? Зато Илон снова смог, на этот раз - всех послать. Тем временем, Бутан тихо и уверенно майнил биткоины. ЕС в очередной раз продавили Apple, и выиграть от этого может Microsoft и Xbox. Google, следуя главным правилам корпораций, зарабатывает деньги и блокирует блокировку рекламы. При этом зачем-то встраивая игры в YouTube. А еще мы узнали, что выдумывание женщин может приносить деньги. Но не бесконечно.

Christian Kroll hat 2009 Ecosia von seinem Ersparten gegründet. Heute macht die Suchmaschine mehr als 3 Millionen Euro Umsatz im Monat und hat mehr als 186 Millionen Bäume gepflanzt.Vor Jahren hat Christian dann entschieden, seine Anteile in Verantwortungseigentum zu übergeben und so auf einen potenziellen Millionen-Exit verzichtet: Warum Christian glaubt, dass dies der richtige Schritt ist, besprechen wir zu Beginn des Podcasts.Was du lernst:Sollte man sich von Wettbewerb und Platzhirschen einschüchtern lassen?Wie hat Ecosia profitables Wachstum erreicht?Wie motiviert man ein Team, nicht für Geld, sondern für den Impact zu arbeiten?Was kannst du als Gründer bei deinem Startup beachten, um deinerseits die Welt ein bisschen besser zu machen?Mehr zur flexiblen Finanzierung von re:cap: https://re-cap.com/ALLES ZU UNICORN BAKERY:https://zez.am/unicornbakery Christian KrollLinkedIn: https://www.linkedin.com/in/christian-kroll-b2aa06b/ Ecosia: https://www.ecosia.org/ Unicorn Bakery Whatsapp Broadcast:Hier erfährst du alles, was du als Gründer wissen musst: https://drp.li/jrq5S Unser WhatsApp Broadcast hält dich mit Einblicken in die Szene, News und Top-Inhalten auf dem Laufenden.(00:00:00) Wie kam es dazu, dass du deine Ecosia Anteile ‘verschenkt' hast?(00:09:13) Wie viel Geld ist genug?(00:16:28) Warum brauchte es 2009 noch eine Suchmaschine?(00:20:21) Wann kam der Moment, als du wusstest, dass deine Vision funktioniert?(00:28:39) Was antwortest du, wenn Menschen zweifeln, ob ihr so gute Ergebnisse liefern könnt wie Google & Co.?(00:31:10) Wie überzeugt ihr Menschen, aus dem gewohnten Habit-Loop auszubrechen und Ecosia zu nutzen?(00:34:52) Welchen Denkanstoß möchtest du Gründern gerne mitgeben? Hosted on Acast. See acast.com/privacy for more information.

Die Aufgaben, die man sich selbst stellt, sollen natürlich auch eine gewisse Herausforderung darstellen. Von daher möchte ich heute in dieser Podcast-Folge die Frage besprechen: Apple, Microsoft oder Alphabet/Google - welche Aktie wird auf Sicht der nächsten zwei bis drei Jahre die beste Performance liefern? "Nichts einfacher als das" ... so würde ich es auch wieder nicht sagen, aber: gehen wir mal frisch ans Werk!
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 Viel Freude beim Anhören. Über eine Bewertung und einen Kommentar freue ich mich sehr. Jede Bewertung ist wichtig. Denn sie hilft dabei den Podcast bekannter zu machen. Damit noch mehr Menschen verstehen, wie sie ihr Geld mit Rendite anlegen können.
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 Die Quellen der Audio-Zitate - Abgerufen am 06.11.2023:
 YouTube-Kanal:CNBC Video: Meta regained investor confidence in latest earnings report, says Altimeter's Brad Gerstner URL: https://www.youtube.com/watch?v=Z1-zyy_zb74 YouTube-Kanal: Yahoo Finance Video: Apple earnings top expectations, Investors can 'breathe a sigh of relief' on Q4 results: Analyst URL: https://www.youtube.com/watch?v=XzFEGaafhJc& Die verwendete Musik wurde unter www.soundtaxi.net lizensiert.
 Ein wichtiger abschließender Hinweis: Aus rechtlichen Gründen darf ich keine individuelle Einzelberatung geben. Meine geäußerte Meinung stellt keinerlei Aufforderung zum Handeln dar. Sie ist keine Aufforderung zum Kauf oder Verkauf von Wertpapieren.

This Week in Startups is brought to you by… Embroker. The Embroker Startup Insurance Program helps startups secure the most important types of insurance at a lower cost and with less hassle. Save up to 20% off of traditional insurance today at https://Embroker.com/twist. While you're there, get an extra 10% off using offer code TWIST. CLA. Innovation takes balance. CLA's CPAs, consultants, and wealth advisors can help you get from startup to where you want to end up. Get started now at https://CLAconnect.com/tech IntouchCX. Looking for ways to make your startup more efficient? IntouchCX has a ground-breaking suite of AI-powered tools for end-to-end optimization to give your business the edge it needs to thrive. Get started with your free consultation at http://intouchcx.com/twist * Today's show: Jason kicks the show off with a discussion on the state of venture capital in the Middle East (1:34). Then, he breaks down Q3 earnings reports for Google, Microsoft, and Snap (18:12), and much more! * Time stamps: (0:00) Jason kicks off the show (1:34) The state of VC in the Middle East (10:15) The founder ecosystem and adapting to EU regulations (13:57) Updates on "THE LINE" (16:45) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist (18:12) Google Q3 earnings (22:48) Microsoft Q3 earnings (28:21) CLA - Get started with CLA's CPAs, consultants, and wealth advisors now at https://claconnect.com/tech (29:57) Snap's Q3 earnings (38:33) InTouchCX - Get started with a free consultation at http://intouchcx.com/twist (39:57) Snap's Daily Active Users (DAU) (43:15) Frameworks for investing in consumer internet companies (44:56) Greycroft layoffs * Read LAUNCH Fund 4 Deal Memo: https://www.launch.co/fourApply for Funding: https://www.launch.co/apply Buy ANGEL: https://www.angelthebook.com Great recent interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland, PrayingForExits, Jenny Lefcourt Check out Jason's suite of newsletters: https://substack.com/@calacanis * Follow Jason: Twitter: https://twitter.com/jason Instagram: https://www.instagram.com/jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis * Follow TWiST: Substack: https://twistartups.substack.com Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin * Subscribe to the Founder University Podcast: https://www.founder.university/podcast

Welcome to a new weekly series we are launching on the Latin Wealth platform, Wealth Wednesday! On Wealth Wednesday, we will be discussing trending news, Latino culture and topics surrounding business, host by @chrisbelloso and @ricoramirez86. On today's episode we discussed: Why choose entrepreneurship? - Freedom - Untapped potential - It's a necessity for me Meta, Alphabet, Amazon, Microsoft highlight earnings barrage: What to know this week - The week ahead will provide a look at metrics closely watched by the Fed: economic growth and inflation. - Thursday's GDP release is expected to present the high-water mark for economic growth in 2023 after a string of resilient data has pushed out recession calls to 2024. Talking points - Big tech takes center stage at a crucial time for markets as rising bond yields and fear of further Fed tightening have sent stocks lower in recent weeks. Follow us on IG: @latinwealth Email for questions or inquiries: latinwealthpodcast@gmail.com

Bloomberg's Caroline Hyde and Ed Ludlow break down the day's biggest tech earnings. Plus, a conversation with the CEO of Qualcomm as the chip firm unveils it's latest processor. See omnystudio.com/listener for privacy information.

On this week's podcast episode, product veteran Itamar Gilad joins us on the podcast to provide insights on implementing evidence-guided principles into product management. He argues that as product managers, we must be driven by evidence to find product success. Featured Links: Follow Itamar on LinkedIn | Buy Itamar's new book 'Evidence-Guided: Creating High Impact Products in the Face of Uncertainty' | Free e-book downloads on Testing Product ideas, ICE Prioritisation, OKRs done right, and many other resources at Itamar's website | Sign-up for Itamar's 'High-Impact Product Management' newsletter | 'High-Integrity Commitments' feature at SVG | Itamar's previous episodes on The Product Experience podcast 

Tesla Google Microsoft สนใจไทยเศรษฐา คาดลงทุนรายละ $5,000 ล้าน Morning Brief 25/09/66 >>> https://youtube.com/live/auiOoKzkfjM

EP309 - Instacart IPO Filing  Warning: Given the complexity and breadth of topics, this is a longer than usual episode with a runtime of 90 minutes (if we had more time, we'd produce a shorter podcast). Update: In this episode Jason mentioned that he didn't think Instacart accepted SNAP payments. It turns out that Instacart did start accepting SNAP earlier this month. On Friday, August 25th 2023 Instacart filled its S-1 IPO form with the SEC, in advance of its intention to make an initial public offering. The complete filing is almost 400 pages. In this episode we summarize all the key points, including a number of surprises, in the filing. If you want to follow along with the actual S-1, you can download it here. Scot suggests you focus on pages 101-124. Topics Covered: Cover Page and Entry Level Items Overall Growth Trends 25:50 Unit economics 42:90 Cohort Analysis 48:10 Instacart Ads 56:30 The Big Risk/Concern 1:00:11 Other observations (Instacart+, Carrot Services, Generative AI) 1:22:50 Other episodes mentioned: Episode 255 - Instacart Chief Revenue Officer Seth Dallaire and Episode 224 Customer Cohort Analysis and CLV with Dr. Daniel McCarthy. Don't forget to like our facebook page, and if you enjoyed this episode please write us a review on itunes. Episode 309 of the Jason & Scot show was recorded on Tuesday, August 29, 2023. 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. Jason: [0:23] Welcome to the Jason and Scot show this is episode 309 being recorded on Tuesday August 29th I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scot Wingo. Scot: [0:38] Hey Jason and welcome back Jason and Scot show listeners. We are going to jump into the talk tonight because one of our most popular shows as you know Jason the format is a deep dive and we have got a great Deep dive for you guys this episode. Last Friday August 25th there was a very big event not only in our favorite world's grocery which is Jason's favorite world and my favorite world of e-commerce and then Jason's favorite world of. But also in my favorite world of startups so this is this is a pretty big event and we wanted to dedicate a complete episode to it. I mean it is the filing of the S14 instacart. [1:24] And just to set it up the you know in my world of start-up land it has been very hard to get an IPO done so there's been a couple post coated and like late 2020. And then summon 21 and then there's been a dry spell there's been something called a dese back so you have this spec which is this. [1:44] Special-purpose acquisition thing and you can kind of go public through this kind of complicated convoluted thing. Tends not to go very well so there's been some of that like in My World Mobility there is one called get around and there's been a couple others and those typically have not. Gone so well they're down like 95% bird the scooter company did this as well. So it's been a very dry IPO market for startups and thus of interior backed investors. So there has been a lot of anticipation around when is that a PO when they're going to open who's going to be brave enough to kind of stick their foot out there first. And you know a lot of people have been rooming that instacart would be out there there's a couple other companies in this kind of unicorn Stratosphere stripe is another one that we cover a lot on the show from the payments world. There's also the others you can think of Jason there's this one. There's a software one that is just doing really well in AI that's been mentioned a lot not not open AI it'll come to me in a minute. So you know so this is kind of the real. Bang the Big Bang of here's a company that is being brave enough they're gonna go first and we're going to see what happens so it's going to be really interesting and we thought because it hits this Venn diagram of all of our favorite things that we would spend a fair amount of time on. [3:10] So first of all this is a 400 page document so our value add to the listeners is we have distilled it down into what we think are the most interesting little tidbits and some of the things we've learned from instacart it is nice because there's been a lot of rumors about how instacart Economics work and Jason has been tracking their ad piece which is you know cpgs have really seen some really nice results from that so we know that's been active and the areas we picked apart we thought we would cover tonight is I wanted to kind of give you a quick and dirty Scott's guide to reading an s-1 and we'll start at the cover page that's there's actually a lot that happens on the cover page so I want to spend a little time there and kind of give you a little I haven't taken a company poet behind the scenes of what's going on on there and then we're going to talk about some of the overall growth things that just kind of help you understand. [4:07] How to think about instacart how they're growing and what they do and what role they play and then unit economics one of the things that is happening more and more in these s1's is they're doing a more comprehensive cohort analysis and this is basically showing hey if if I car to a customer in a certain period how are they doing now and what are those Trends so that this this had a lot going on there of course we want to talk about the ad business and then little bit of a catch-all for other observations, Jason anything I missed before we jump into the cover page. Jason: [4:42] No I think you mostly covered it just one slight correction it's four of our five favorite things for those listeners that tuned in to hear us talk about Ahsoka we're going to do that on an upcoming episode so that Star Wars would be our fifth. Scot: [4:56] Yes sadly there was no Star Wars in this one so it's that one little part of the over the Venn diagram was left is its own little circle out in space. Jason: [5:06] That's a we call that a teaser for a future episode. Scot: [5:09] Yeah yeah we're we're Pros were 300-plus episodes into this thing and this is the kind of you know Pro level that we deliver on the pod. So you guys missed it Jason forgot to plug in his microphone earlier so that's a yeah we're still still learning every day, so when you open an s-1 the first thing you see is the cover page and it you know a lot of people just Breeze by it because it's a cover page but it has a lot of really valuable information so first of all the first thing that I noticed is I was searching for this on Edgar and I kept typing in instacart and it wouldn't show up and I was like WTH I know this s1's out there why can I not find it and then I saw an article and it said oh the company's real name is maple bear so that's the first thing you see on the cover is the company we all refer to as instacart its actual Corporation name is maple bear and it does business as instacart so I thought I did not know that prior so that was the first thing I learned right there on the cover so that's interesting so if you do go to the will put a link to the s-1 in the show notes but if you do Brave the Edgar SEC database yourself throwing a little Maple bear there and not instacart. Jason: [6:22] Not to be confused with Amazon's house brand Mama Bear. Scot: [6:26] Yeah yeah and I'm sure there's a honey bear and brown bears there's a there's a lot of a lot of bear things going on. The other thing that I was like to see is what symbol are they using I think it's fun to kind of you know as an entrepreneur to kind of think about what symbol you're going to use that best personifies your brand Channel Bowser we had ecom's so that was an exciting one so we captured e-commerce Shopify go. Jason: [6:52] The best ticker symbol of all times by the way. Scot: [6:55] Thank you thanks thanks I appreciate it. Shopify head shop and that was a good one and instacart / Maple bear is going with cart so I think that's a that's a that's a pretty nice one you know it kind of there a multi grocer chart cart and we all think about instacart I'm sure they hate being called Instagram so this kind of like really punches on the cart so maybe they get away from everyone mistakenly calm Instagram. Jason: [7:19] I think it's solid. Scot: [7:20] Yeah A-Plus on the symbol and then in the you'll notice that a lot of the evaluations and how many shares they're selling are blank and that's you know in this draft of this one which is the first kind of public one that they're dropping out there they'll they'll iterate a couple more times they'll do their Roadshow and then write one that, it prices they'll update the S12 include all that information so they'll make kind of literally a game day decision the night before IPO of how much based on the order book how much they want to sell and at what price so that, that's going to be blank through probably several more iterations as we go on then this is did you want to do something in. Jason: [8:04] No I was just I was just thinking that they I assume they left it blank because the underwriters were out of practice. Scot: [8:10] Yeah no no they they are there waiting and that's a good point because when you go public the the companies that take you public in this context they're all investment banks on Wall Street. But they they filled this role of Underwriters and basically what they're doing is they're acting as market makers they're going to cover your stock when it's public and they're also going to be basically pounding the pavement to sell your stock to buy side by side analysts and firms on Wall Street. Which there's two buckets of there's mutual funds and hedge funds there's also retail that I guess there's three buckets, retail would be you log into Schwab or Robin Hood and the diet of the IPO you try to buy some chairs that's retail and they all allocate a little bit of that for the IPO so they like retail to come in and get a little taste. [9:04] A lot of folks that if you're an accredited investor at an institution and you have a wealth manager, sometimes you can get a little bit of access to an IPO before it prices you don't get a special price or anything but you can if you're really excited and you're a retail customer you and you're in this kind of wealthy bucket then you can you can get some allocated shares I think is what they call it these call this friends and family they don't call that, that anymore that's called a allocated shares but what's important about the underwriters is there's actually a signal there several signals here and I didn't know this time went through the process. First of all they have lined up a who's who of investors so even before you get to Underwriters they have this really interesting note right before right underneath before they get in the underwriters and they say oh by the way we have lined up these investors already that have committed to buying and they have committed Asterix and then they kind of like take away the committed but. [10:05] I think that's a legality I think I think it's a pretty hard commitment is my reading of them and they basically say these guys are already these guys have lined up to buy at least 400 million in this offering. Regardless of the price and there's some big names in there there what I would call. Public-private so they have invested in instacart already as a private entity and then they have another side of there. Firm that invest in public entities and they have said that side is going to support the private side and that's nor just Bank tcv. [10:38] Sequoia and a couple others this is very unusual but I think it's an interesting play because it basically says to the market. Hey you don't have to worry about this thing you know taking on the first day because we're going to were signaling to you we're going to place a chunk of this with these folks that are long-term holders and they're going to backstop this thing I think of it as a adding a floor to the IPO basically saying we know it's been a while we know there's risk out there we're going to have a floor on this so so there's built-in demand for this IPO so that's quite unusual and this is the first time I've ever seen anything like that sometimes you'll see tiro price is a big one a big mutual fund that likes to do this or they'll have a private-public and they'll say you know they'll kind of suggests that, they're interested in buying more and they'll come out and say they don't plan to sell or they've accepted a lock up for a year or something like that I've never seen such a strong message as this one so I thought that was interesting. Okay then we move to the bottom of the cover and that's where you have the list of the underwriters and what's really interesting is the way this works is the bigger your font the bigger a role you play in the IPO so on this one the biggest font is Goldman Sachs and JP Morgan and you know they have I don't know what would you say Jason like a 40 Point font. Your. Jason: [12:03] Yeah I had to read it with my my PDF zoomed way up so I feel like I yeah but it was a big font. Scot: [12:11] Yeah yeah so those guys get like a you know they're kind of really big and then what's also interesting is where you show up on the page is important so your importance starts at the left and goes down to the right so the most important what we would call the vernacular is the lead left which is the biggest font on the left side of the cover is the lead Investment Bank and as Goldman Sachs and they're they're The Bluest of Blue Chips everyone wants Goldman Sachs if they come out. [12:37] And then usually you want either JP Morgan or Morgan Stanley now JPMorgan has increased greatly and stature over the last three years because they have weathered coded and they have basically absorbed most of Silicon Valley Bank's deposits and a lot of these other riskier Banks and their CEO is pretty famous Jamie dimon so they've this is kind of you know two blue tips on the top of the book here which is pretty interesting and then, then you kind of go down a bit and you end up with 18 more Underwriters and there's like three levels of them there's like the font gets smaller so you go from 40 point to 20 point then you go to like kind of like 15 point and you go to seven point and you know what's interesting is I have never seen this many Underwriters either so they basically have said we want everyone on Wall Street lined to go and help us sell this we will turn no Rock no Rock will be unturned looking for buyers of instacart stock with the institutional investors. There's some International Players so they've basically if you kind of said if you if you. [13:53] Few War Room doubt what are some things a company could do 2D risk an IPO they have done things I've never seen before times like three and then the last thing that's interesting is the economics each of these Banks gets kind of depends on where they are on the page so you know if it all this gets him to like, there's all this Machinery but these guys do it because they make money so Goldman will make their kind of highest percentage and then JPMorgan and so on and so on based on how much they contribute to the book and all this kind of calculus that goes on behind the scenes so I thought that was kind of a really interesting just on the cover some things that were very unusual from other IPOs I've seen Jason anything that you found on the cover that was riveting. Jason: [14:43] We'll know I did. I have a question for you though I got I guess I when I saw all of those Underwriters I kind of and perhaps erroneously assumed that part of what was going on here is, it's been a while since there were in any IPOs that went through an underwriter and that all of the underwriters are out there. Desperate for four deals and that therefore. Instacart had more more leverage to get more Underwriters like is it. Is it literally instacart just agreed to pay more for these two more Underwriters 2D risk the IPO is that. Scot: [15:23] Yeah I think. So human nature is that the lead laughed and Lead right want to absorb a lot of the deal and don't want to share too much so so typically there's some friction there right so they'll be like yeah you could add a couple and they use this tearing language I don't you know this is just kind of how I don't know who how they know what who's what dear, but tier one is Goldman Morgan and JP Morgan Morgan Stanley and then tier 2 is you get kind of Stiefel, a couple others in there then you go tier 3 and then you kind of have like an international kind of tearing as well so usually you get like two from Tier 1 Maybe two or three from tier 2 and then that's kind of it and then if you've if the company feels strongly like another consideration is when you go public one of the things that helps you long term is to have analysts that follow your stock and we've had many of these analysts on our show Mark mahaney Collin Sebastian these are and then Scott Devitt he was at stifel and he's moved on to another shop these are these are famous people in the internet marketing world so you want take Mark sets, I wasn't even as Fern was he ever green but that's not it. [16:40] Ever Quorum so so you as the company can say the Goldman hey I know you guys want to keep a lot of Economics but I want mahaney on this and we got to get ever Cora so some of those on the bottom are probably International distribution retail or something the company wanted kind of specific to add them on and you know that was all pre-negotiated with Goldman getting lead left they had they kind of had to acquiesce to having a bit of a large number of Underwriters on there so I don't yeah I don't think I'm sure they all wanted to be to your point like there certainly wasn't even saying no to being invited to this and they probably you know you just bake off in this was I came to imagine if they ended up with 18 like, mr. started with 80 I don't know it's crazy that was probably like a. Six week bake off just to hear from all the bankers so yes I think there's more around the analyst going on with with the large number on some of those. Jason: [17:39] Got it and then I want to hear your speculation about where the price might come in but I'm trying to remember the details there's been a lot of interesting things going on with the private placements before we got to this point right so I think the some of the valuations of the private placements were at some point disclosed and then I want to say instacart reset there. Their valuation at a lower number while they were still private like presumably to make the equity appealing for employees. Scot: [18:17] Yeah the sequence of events and this is all you know they don't disclose all this in this one because it's kind of like. Jason: [18:25] Sure I'm just trying to get the the Run. Scot: [18:27] The Whispers And if you read some of these you know I subscribe to a lot of things that talk about some of this kind of rumors and so take it with a grain of salt but there was some sequins like they were chugging along and then Covent hit and it was like Off to the Races vertical and I think the wheels kind of came off the bus and they started to lose money because the unit economics weren't weren't ready for for like a surge like that and then right around 21 they replace the CEO and they had to kind of emergency raise some Capital which is kind of like one of the worst times to do it because even though their revenue was surging the rest of the market was in the toilet basically so I think they had to do a Down Round And what I've heard is their bed raised money as high as 39 billion and then they took this haircut at with this new CEO in this kind of re leaning down the company at about 13 billion so. [19:19] So I think that's kind of like the watermark is kind of where they've last raised money and if you look at their revenue that's actually not that's a very reasonable Place given where you know they've grown since then but now what's the revenue like four billion ish yeah so they're like 3 billion and 22 in revs so that's like a four times Revenue which is pretty reasonable for a company growing the way they are with with good profitability so I would be I would not be surprised we don't we won't know this per share price until we see the denominator and they didn't have the denominator which is market cap divided by number of shares equals share price we don't know the number of shares so I would I would suspect. I'll guess, four billion I'm gonna guess 20 billion would be a low like I think it will price they're on the low end and it could go as high as 25 30 depends on you know. Retail and how much momentum it gets with with buyers. Jason: [20:26] And part of the art here is you don't you don't want to price it too low because that means you you have money on the table when you sold your Equity but you also don't want to price too high and have the, the stock like go down from the offering price and get below water right away right so. Scot: [20:49] Yeah it's very common we kind of had this situation at Channel visor we went public right after you know cortical right after in a longer time window of 08 09 and you know they strongly we had golden lead left and they strongly encouraged us to think long-term and not get obsessed about that pricing and leave a little bit of money on the table and yeah and then over time you could do a secondary at a higher price and you really want to you don't want to tank especially in a tepid market so I'm sure this was all part of the um you know Goldman would counter negotiate this to be lead left and say look we we need your commitment that your yep part of the pitch is they give you what they think it's worth and how it's going to price and they also discuss the strategy and that's part of the selection processes and you would think it would be. Okay whoever says they're gonna give me the highest price but you actually kind of they really stand out a lot because the Goldman people can talk about Dave, they've got like a lot of data to back up their strategy and you know there's like Watson there that that are. It would make your head spin and so they do a really good job of talking about why it makes sense to price the way they think and how how they see it over a longer Arc of time. Jason: [22:12] Gotcha so the guys with all the money have really good justification for why you shouldn't worry so much about the money. Scot: [22:18] And then the other thing to know though is what typically happens is you are not sharing you're not selling any one shares so the company so as part of this IPO the company will issue new shares so so you as the founder and the other investors you still have your shares you're not actually selling them at this moment so you know in a way now you get diluted right so the flip of that is your percent ownership goes down but you know it's kind of the would you take a little bit smaller. Of that and long term when you can sell your shares as the investor and the founder and the team and the people that bet on you now you know can you execute and deliver and then earn your way into a higher price and then that's when you can kind of like get some equipment sir. Jason: [23:08] Do you want a little bit of a grapefruit or all of a grape. Scot: [23:11] Yes exactly yep that is a good description. [23:17] Okay so here's here's the other part of the quick and dirty guide to reading the S1 you can take so that's cover is really good and then you take the literally the next let's see what is it. 100 pages and you can toss them so this is where the lawyers come in and they love to make sure you understand all the risk factors you know a meteor could hit the Earth people could stop needing groceries cybersecurity I could be no one wants to shop for them it could be they'll compete with a bunch of people Amazon is always a risk factor Google Microsoft. So all that really doesn't add value and then there's a little bit of financial stuff but it's it's pretty dry and it's kind of like from the Auditors almost so it's like super drive so it always do is you skip to the part of this one we're finally the lawyers have earned their large fees and they vomited forth 100 pages of risk you know stuff. And then you get to write your story and that's called the Management's discussion and Analysis in the industry it's called the md&a. [24:27] It's confusing I thought for a long time it was md&a because Aaron says mdna really fast and they're saying the word A and D and it sounds like an end to me and I kept saying what the heck does md&a stand for they're like what do you mean what's up what are you saying. It's like a who's I first got a thing but it's md&a so Management's discussion and Analysis and this is where you. Jason: [24:49] Because I read all 100 pages and and I'm super depressed and one of the risk factors is the way I could become sentient and take over the Earth. Scot: [25:00] Mmm yep that is a risk factor and then it will bring our groceries to us I guess as we are batteries for its consumption. Jason: [25:08] The computers won't eat. Scot: [25:10] So if you really want you know so what you can do is you can get the gist of 95% of this by printing out the s-1 pages 1012 124 that's it's only 23 pages and it's really dense but it is actually this is actually a very good read they did a very good job of making this so you know. It's very approachable and they go into a level of detail that's really handy into problem so we're going to give you some of the highlights from that but if you want to go deep on your own we will give you all you need to go to the next level just by looking at those 23 pages. Okay so what did you see and them DNA and that got your attention. Jason: [25:55] Well I mean a number of things so maybe just super high level what's exciting to me like obviously a lot of this information about the business was not, publicly available so in the process of going public in issuing S1 they suddenly reveal a lot of things and they reveal things about. Their own business but they also have to paint a pretty good picture of what they think is happening and could happen in the digital grocery business so it's kind of like getting a whole class of really smart people to sort of, write a thesis about the the digital grocery business that we get to read and interpret and you know we they reveal things that we didn't know like how valuable customers are over time and how much consumers spend on a given order at instacart and what percent share of wallet they think digital gets versus brick and mortar and all these sorts of things and we'll get into a bunch of them in the in the individual sessions but my my takeaway from the beginning of that management discussion was that it's a. [27:08] A pretty robust business that the aggregate amount of. GTV that they that they have is pretty significant its twenty eight point eight billion dollars in groceries that they sold in 2022. Scot: [27:27] Yeah and GTV is gross transaction volume so instacart it's basically a Marketplace like eBay or Amazon where parts of parts of Amazon all of you back where you have in the marketplace of product Marketplace use GMB a lot of payment systems like PayPal use tpv gross merchandising value total payment volume they have chosen to use this term for the gross figure of GTV and at first I thought it was going to be groceries to do but it's gross transaction value I thought for sure it was like grocery, I was trying to decode it without looking it up and I was like that can't be grocery because then I don't know what a TV is doing there and you know so then their revenue is a derivative of that meaning of some percentage then of that big number Falls to them as Revenue after they pay the grocer The Shopper and then instacart the business has the leftovers and which ends up, we'll go through the unique and I'll mix it ends up being being pretty small because the grocery business does not have huge merchants. Jason: [28:26] Yeah so kind of looking at those business fundamentals that you know in 2022 they sold 28.8, billion dollars worth of stuff which for them generated 2.5 billion dollars in revenue and they were profitable on that Revenue they they net 428. Million dollars which like back in the a couple years ago when there were more IPOs happening there were there were IPOs in the space they were happening with companies that still weren't profitable so so that was interesting that they they were meaningfully profitable and then the, you know you're super interested in what the growth trajectory is and. [29:13] 20:19 was a very small year so going from 2019 to 2020 you know and then the pandemic app in the middle 2020 and urban was ordering groceries from, from instacart so the growth in 2020 was astronomical like 300% or something like that. But then the growth in 2021 over 2020 was 24%. On revenue and the growth in 2022 over 2021 was 39% in Revenue so. The revenue growth is Meaningful and accelerating. Which would be exciting they were not profitable in 2020 or 2021 so 2022 is the First full year that they were profitable. The GTD is a little different though they had significant growth three hundred percent in 2020 20 percent in 20 21 and 16 percent in 2022 so, well they have a track record of growth it's the top on GTV growth is decelerating. And then of course we're halfway through 2023 so they have to disclose. [30:23] How the well they've done in the first six months of this year and they compared to that to last year and the revenue and GTV are both essentially flat in the first six months of this year. Versus last year so I don't know you'll have to tell me but I look at that and you go man there's some robust stuff here there's a great growth story. I should have mentioned that that's on an annual basis on a quarterly basis they have five consecutive quarters of profitability which also seems. Impressive him pretty favorable but it's probably a slight worry that the. A lot of that growth seems like it's it's leveling off in 2023 I don't know if. That the most recent performance gets gets over weighted or underweighted and sort of evaluating the the prospects for the company. Scot: [31:19] Yeah the buyers will you know what every everyone has a different way they value things and they they're going to build their own models and the company will give them some guidance that's some of the stuff we did it we're not going to go over and but you have to be careful because you don't want to make forward-looking statements so this is this weird dance you do of you. You try to get people excited by not saying anything about the future which is which is a little tricky so you know what I imagine instacart s' just reading the tea leaves again they talked a lot about how they don't really do much sales and marketing which I kind of read to say, look we really hunkered down on our unique economic sand we've got it dialed in right now and spoiler will get to adds a lot of a lot of that has come from this ad piece. And I think now. [32:07] Because investor and I was the bullish scenario is you know they're going to raise at least 400 million they'll probably raise a lot of money from this they could start doing some advertising and you pick up some new customers that again I'm going to kind of hope they look at the cohorts those cohorts look like with what this in the here and they have at least the same unique anomic so if not better and I'm going to look at this growth accelerating wow what Wall Street loves their favorite favorite favorite kind of the top quadrant is accelerating Revenue growth an accelerating profitability and you know I could see a scenario the light has to go their way but I could see a scenario where that works here you know if they could if they could start spending some really careful sales and marketing dollars building the brand where they've been kind of under the radar for the most part and then. That works those cohorts stick and then they can work on the economics because that's gonna bring more advertisers per order because the more average more orders and more. GTV is going to bring more cpgs in that want to advertise against that then you could argue accelerating Revenue growth accelerating profitable unit economics. So I think that's the bull case the bear case is they've hit saturation they've got all the stores. 4% is anemic and nowhere to go but down. So that's the end of it is it is going to be interesting to see there's a little bit of A Tale of Two Cities in those possible outcomes. Jason: [33:36] Yeah what else jumped out at you in the management discussion. Scot: [33:43] They made a big point of talking about they have 7.7 million monthly active users which is a good number but they point out that in the u.s. there's 330 million consumers or I guess population so they use that and this is kind of one of those hints I was talking about the basically said hey we're. We've done good to get here but these are like the early adopters we still have a long way to go there's a lot of people you know I don't think they'll get all of them and I'll talk about that in a second but there's a lot more people that you should be using our service that aren't is so they kind of paint that 7.7 million and say that's teeny tiny compared to where we should be. And then you know the other thing they talked about that I thought was interesting I wanted to get your opinion on is they talk about, per user per month they get three hundred and Seventeen dollars and I was wondering I know you probably know this off the top of your head. What is if you look at the average US consumer and you probably look at the. Population of the convenience store that's like a kind of probably like that 100K and up household you know what is their monthly and is this like half of it a quarter what is your spidey sense tells you on that. Jason: [35:00] Yeah so real rough numbers the average American family and you know people shop for groceries in households versus people so it's almost better to talk in household so there's like 131 million households in the US and sin they've got. Seven million of them as customers the average household shops for groceries 1.6 times a week and they spend a hundred dollars per visit so you kind of you know rough that up and you get. Get what is that I'll have the intern do in turn do the math one point six times. 100 times, 4.5 is 720 total grocery spin which I don't have the census numbers in front of me but but that passes the smell test that so. Households are spending six seven hundred bucks a month and instacart saying that they're getting less than half of that. Scot: [36:12] Yeah and I saw some people speculate on this that, what their inferring is Davin they have an average order of 110 so this is like 2.6 instacart some month instacart orders per user per month that's another kind of interesting metric and then people are speculating in the saying the pattern is probably people are doing a big shop once a month and they're kind of going and getting you know, a lot of like maybe canned goods and things like that and then they supplement it with two or three instacart has to bring maybe a refresh of the the replenishable is like the cheese the milk the veggies and the fruits kind of thing. Again this is everyone just kind of like taking data and kind of going out for data point so the cone of uncertainty is pretty big out there but it kind of passed my sniff test that's how we've used it before, at our house with exception of wizard a lot at work to fill our snack area at work and we're probably like we're probably like top one quartile of this whole thing that's the number of snacks we get from Instagram. There's a deep does that that analysis of the one big shop yourself and then supplement does that. Jason: [37:26] No exact yeah I mean I think the Grocer's talk and I hesitate to bring this up because I don't think I remember I'll for off the top my head but there's like four typical types of shopping missions right so there is that like Pantry stocking shop there's like a weekly shop there's a. Occasion Bay shop where your your it's date night or it's Christmas or whatever and you make a special shop and then there's those, top off shops and I think it's generally agreed like there's not a big cohort of consumers that have just said I'm never using a grocery store again then I'm exclusive we gonna, I have all of my my calories show up at my doorstep so digital grocery ends up being one of the tools in the family's tool kit for, procuring their their calories and so it makes. Total sense that they would have a share that one of the ways they could grow is to increase that share presumably by. Being the best choice for more of those different kinds of missions. Scot: [38:34] Yeah and then the md&a they talk a lot about how they have these new offerings where you can get a weekly Monday thing and they're definitely poking around at this experimenting on how to grow the sand again they're kind of signaling we think we've got some room to go on this we can get that. [38:51] Bridge order up and we can get the ma use way up the second thing I noticed was you know they use this they use this phrase, several times you can tell it's kind of like must be tied to company values and they talk about we believe people want selection quality value and convenience if that sounds familiar to you the this is infamously brought up in the Amazon Jeff Bezos first shareholder letter in 1997 where he talks about the mark you know what Amazon believes and they believe that a multi-decade trend is people will not get tired of selection quality value and when value he uses kind of free shipping like versus product value is pretty specific on it and then convenience and then what got me thinking about this is. [39:38] Value inconvenience her you know they're often in conflict and this is the whole point of we've had, Casey on the show from the Lloyd there bifurcation kind of model which shows this was this I think a lot about this because this is the whole one of the whole reasons I started spiffy and we decided early on if we're going to be convenient we can't be the cheapest and I don't think people look at instacart as the cheapest you know whenever we use it it's kind of like, holy cow this is this is a pretty expensive treat in you know I really kind of need to be able to justify this to myself that I can't just pop over the grocery store and do this myself it needs to be yeah some some reason I'm going to miss a kid event or something that I'm getting a really good bang for the buck here so I thought that was interesting that at some point I wonder do they value part kind of struggle with you know how. Jason: [40:31] I think they have to have a. A more liberal definition of value because I think you're exactly right right and obviously you know value means different things to different people like they disclosed later in the S1 that they not surprisingly that they skew disproportionately to households that make over 100,000 a year compared to a traditional retail and particularly a traditional grocer like give I've no idea what it looked like when they actually did it but when Kroger went public or certainly when Walmart went public they would have talked about the top of their tree that we think the consumer really values price and and Walmart probably said price not value and you know they built a business around very aggressively maintaining those low prices because they thought that was the beginning of their flywheel and and you know Amazon talked about value but they when they said value a lot of what they meant was and we're going to you know have the very competitive or the lowest price on a lot of these goods and, the the business model of instacart makes it unlikely that that can be their positioning so they have to kind of, find a a valid but alternative definition of value to hang their hat on. Scot: [41:50] Yeah and I thought was interesting they put convenience a lot you know last you may say oh you're reading too much into it but you know I've been in rooms you spend so much time on every word there's a purpose to this order of selection quality value and convenience and and they mentioned this exact phrase like several times so this is a this seems to be an yeah a pretty important phrase in their their world to I just thought that was I want to get your take on you know at some point they may cross this road where they have to pick a lane and it'll be if it ain't going to be the value late you know I don't see a path there but you know maybe they think they can and you know they also talked about selling to the grocer some software so maybe that's kind of like how they're squeaking that in I don't know. Jason: [42:36] Yeah yeah and there's I think we'll talk about this and in our final conclusion but the there's multiple ways you could see this going over time and depending on which path it took like value could mean something different. So what will come back to that. I heard you like dissected all of the the disclose data and put together unit economic model for for instacart. Scot: [43:07] Yeah so it starts at the top so the GTV per order so every order that comes in they get the GTV as $110 and then there here's how they slice the onion so the biggest chunk goes to the grocer for the groceries and they get 83 percent which is $91 so right off the top we're left with $19 but now the grocer they have to go make all their money so instacart is that's what you would basically get I think if you and I went to the grocery store you know maybe they're getting a little bit of a discount but they're they're taking that $91 and they're adding $19 on top of it and this is all X tip there's a there's there is a delivery fee and what not so then the Shopper gets 8.2% or nine dollars in order and that's in that delivery fee and then they get the tips. Jason: [43:58] Clarification on shopper because like in most contact Shopper would mean the consumer that's buying the goods The Shopper in this case is is a instacart gig worker that goes to the store and gets Aggregates the order for the customer. Scot: [44:14] Exactly the gig worker is the Shopper so they get nine dollars and they get 100% of the tip so whenever you you know whenever you what what they don't say some of these gay places in this bothers me because we fell out on this they say the gig worker gets 100% but then they take a transaction fee of 3%, now I can't find they say 100% I can't see any little asterisks that says there's going to skim 3% or something so. [44:44] So to the hopefully they're being super up front and they the gig worker does get 100% of the tips but the tips aren't in the economic the kind of sit over on the side to go to kind of bypass instacart all together and they go straight to the shopper. Who also gets nine dollars from instacart so if you gave a 20 dollar tip the the Shoppers going to get 20 plus 9 or 22, then at this point we are finally at instacart Revenue which is ten dollars and that's into pieces seven dollars is the transaction revenue and three is ads. So almost half their margin you know so 30% I guess yeah. I say half because the line is going so fast it will become half probably by 2024 you know half the. Profit the margin the revenue that they get and probably disproportionate part of margin is from the ad piece which we're going to talk about in detail so that is. That's pretty important to this whole enchilada and until they figure that out this didn't really work I do. [45:48] So they get so 110 dollar order $91 goes the grocer that leaves us with 19 Shopper gets nine we're left with 10 7 of that, is the transaction Revenue three is ADS then their costs come out they have three dollars of cost per order. And this is this is things like you know their entire some allocation of all their website hosting the engineering team developed the app. I don't know if they would put sales and marketing in there and they weren't very specific about what they do and don't put in cogs so that was a question mark. And they're left with seven dollars of gross profit for that order. My bet is marketing is not in there and they kind of take that up later but again the didn't really. Disclose that I saw what all was and not in Cox so basically that 110 boils down to seven dollars a profit from them and if we looked at it you know. I bet that three of that seven is basically from the ads and you know because there's almost no cost to serve an ad and so so I thought that was pretty interesting that like you know around half of the Prophet basically is from the ad system. Jason: [47:00] Yeah I think I think it's for sure interesting and like you know two possibilities there there there, average value of an order is 110 bucks traditional brick-and-mortar grocer is a hundred bucks and so one question like did instacart wasn't totally clear I mean they tried to take credit for having a higher order value but it wasn't clear like do we think. There's something unique about our experience that causes people to spend more or. Is our service just more expensive and so therefore you know if I got the same 60 items from from Walmart it would cost me $100 but if I got it from instacart Cassandra and ten dollars. But if it's the latter and I'm sure the real answer somewhere in between but but if it's the latter then you go you know all of the, The Profit that instacart is potentially taking is kind of from the. The convenient spread where they're you know getting consumers to pay more for the extra convenience of this grocery delivery. Scot: [48:08] So that was the unique nanak's what did you discover from the cohorts. Jason: [48:12] Yeah well I think we both we both noticed that they had a pretty detailed cohort analysis in the s-1 and by cohort analysis what we mean is they. They break down all the revenue they get from every. Group of customers on the first year they acquire those customers and then they track the spending for that group of customers in each, subsequent year and so you have a cohort that you acquired in 2017 you have a cohort you acquired in 2018, so on and so forth through this 20:22 cohort and there's. Other dimensions you could do Court analysis on but this this tenure cohort is most common and loyal listeners of the show will know we've certainly talked about it before no most notably with a guest Professor Dan McCarthy. From Emory University who spends a lot of time. [49:13] Talking about and thinking about cohort analysis so I my first thought when I saw this cohort analysis is I'll bet you Dan McCarthy's really happy right now and is probably. Deep deep into these numbers and he has a phrase that he calls a super annuities which is for the circumstances. The older cohorts get more valuable over time and keep contributing more Revenue to your business which is, you know that if you think about it that's that's the ideal state right you want those kind of six-year-old cohorts to be. [49:51] Growing and be your most valuable and if they're you know significantly tailing off over time then like you know you start to question the core value proposition of the business like maybe customers get fatigued with your business or decide it's not a good value in the long run or something else so um the the big takeaway for me of the cohort analysis is the cohorts grow over time the if you look at like the year one value of this cohort it averages $226 and then it goes up 33 percent in year two to three hundred dollars and then up 16%, to 350 dollars in year three and then another up another 16% to 4:00 in your for and then up 10% $445 in year 5 and up another 8% to 480 dollars in year 6 and so like fundamentally. That is a very good picture of. The value of the cohorts and I'm certain why they chose to include the cohort analysis in there as one because I don't believe there's any. Any filing requirement to do that and certainly lots of companies don't include any cohort cohort analysis but then my kind of secondary take is. [51:12] You know not every year is the same and so some of those cohorts like started before Cove it and then they're their behavior, was slightly impacted by their maturity but also impacted by covet and some of these cohorts started after Cove ID and so one of the things you would look for in that cohort analysis is did these guys just get a big spike from Cova da, when people are afraid to go to grocery stores and you know has that worn off right and that's kind of a comment common narrative out there like I argue. [51:45] It's mostly misunderstood when people give that narrative about digital but it's. It's even more likely that is misunderstood if you have that narrative and grocery because grocery appears like on the surface to be the one category where hey we're at three percent e-commerce penetration before covet and now we're 12% e-commerce penetration and so this, these cohort analysis if if there was a spike that dip back down you would expect to see some of the later cohorts underperforming versus the the precoded cohorts and we don't see that right that like all the cohorts grow and they grow over time the rate of growth slows down over time which is like I think pretty pretty typical and not surprising um so all that was super favorable the one thing and one will have to have Dan on the show but the one thing that I think wasn't in here that you'd really want to understand how valuable the customer bases and and again guys like Dan kind of pioneered this idea of how you value a company based on their customer base. [52:53] And kind of set the price based on on this type of data but I think they would also want to see some churn data and understand. How many people are each in each of these cohorts and whether there's the same people or lots of defectors and new people coming and all those sorts of things and none of that was was disclosed and assess. Scot: [53:22] Yeah you're right the I think they're making the argument that the swamps turn but because they don't disclose it you kind of. You have to trust him and he would he would want that data because you know the whole Begin Again the the bull case here is all right if you got super annuities than spending ad dollars to bring super annuities in this smart right because everyone you bring in the door is going to follow this cohort and start of it you know you and I looking at a table that the says you're one they start at 2:26 and then by year 60 at 500 bucks so they they double over their life cycle in their GTV so over six years so if you know if you can go buy them for a hundred bucks a pop then you would just go and, and spend all that money in it should be we have a super annuity on one side you can spend a lot of money acquiring customers on the other. Jason: [54:15] For sure true what. Scot: [54:17] You turn there's something that they could hide in there. Jason: [54:19] Yeah so you have to worry about that you also side note like a thing that drives CFOs crazy about marketers is you also have to have this argument about correlation and causation right that like if I went out and bought a bunch of customers would they maintain this the same level of performance or with those those. Purchase customers through higher advertising and through greater sales and marketing a activities be less oil less valuable customers by. The answer varies depending on the business. Scot: [54:53] Yeah that's where I this kind of come back to that bifurcation thinks I think would you say 120 million households. Jason: [54:59] Yeah 131. Scot: [55:00] Yeah so there's probably I think it's probably a pretty evenly split between convenience and value so call it 60 and they've got 7.7 so there's actually good I think they've got a 10% share of, what does the actual dress for Market because I don't think they're going to get any of the value or in a consumers because yeah the valuing consumer does not pay for convenience they'll just go to grocery store. Jason: [55:23] Yeah and again in the bottom quartile a lot of people are shopping for for groceries with government assistance and I don't actually think instacart should double-check this but I don't believe instacart has a way to accept Snap payments. Scot: [55:36] Yeah I don't think the government is going to subsidize the food delivered. Jason: [55:39] Well they just you know they do in other great white white guy like you can order groceries online from Walmart and pay with SNAP but I don't think you can with instacart. Scot: [55:49] Yes that's another factor and then at some point yeah I'm sure you'll bring this up but the. The if you're if you're a grocer you know a lot of ours opt out of the sand to themselves and they like we have a Harris Teeter that they don't accept instacart yeah they're not on there and they want to do their own they want to own the customer themselves. Jason: [56:12] Yeah I save that discussion for other but I think that's a super important one. Scot: [56:16] Forget I said that that's a teaser that's it's a teaser was what we call a tease. Jason: [56:19] Excellent teaser yeah because I feel like we've gone to the add segment of the breakdown of is there anything else you wanted to cover before that Scott. Scot: [56:28] No I'm on the edge of my seat to hear what you thought about that specific. Jason: [56:31] Yeah so it turns out instacart sanad Essence and probably shouldn't surprise anyone you know Scott you alluded to the change in CEO the the current CEO for this IPO is fidge Asuma Seema who formerly was VP of advertising at Facebook so they brought in a Facebook. Exact to run this business and shoot I should have looked up what episode he was on but Seth Dallaire was a past guest on this show when he was the chief Revenue officer. For instacart which was right around the time that that fidget joined. [57:19] Instacart so we actually had a discussion about their aspirations to become an advertising business and spoiler alert, it worked at instacart which we're going to break into and that guess set the layer subsequently was hired as the chief Revenue officer at Walmart where he's. Building Walmart connect which is also working so turns out ads are becoming an increasingly important part of the ecosystem for retailers but the basic ad math at instacart is that in 2022 the last full year of data instacart generated 470 million dollars in ads so 470 million on 28 billion in GTV, means that that's about 2.6 percent of the spin. That went to ads it's thirty percent of their revenue today and. [58:20] It's growing at 29 percent so it went up 29% from 2022 to from 21 to 20 22. Um it's grown another twenty four percent in the first months of six months of 2023 so, a lot of the unit economics of their transactions have kind of stabilized and are flat the one thing that's still growing at a very fast double-digit pace, is the ad business and at seven and twenty million dollars it's already reasonably robust and they don't. Ads are not a line item on the income statement that they included like you know and presumably like it's not. You could argue it's not Material against the three billion in in Revenue. But the so we don't we don't really know exactly how profitable, Those ads are but in general we would call these ads or retail media Network and the you know people argue about how profitable these retail media networks are people particularly argue about Amazon's but kind of the middle of the range when people estimate how what how profitable these things are is that they're about 75 percent gross right so in theory they should be near 99% gross margin because like you don't have to make anything to sell an ad. [59:46] You know you do need some technology you need an ad server you need Administration and salespeople you need brand safety people you know there is. Some infrastructure some of which has to scale with the ad business and so the the kind of. Most common estimate that that I see out there is like 75% of that revenue from ad business is profit. So that implies that the ad business contributed seven 555 million to the. To the income statement for 2022. Um and they were only profitable 428 million in 2022 so that the ad business contribute like by that sort of slice the ad business contributed. [1:00:33] You know covered all of their losses and and was essentially all of their their profit. In in 2022 and it's growing faster than anything else so it's very clear that the ad business is a key. Tenant of this instacart model and they in the management can section they it was kind of funny working for a big, advertising agency because they had to spend a fair amount of time like justifying that ads are valuable good thing and that people are spending money on ads so they kind of you know paint paint this picture that consumer packaged Goods companies which are you know most of the goods that instacart cells that. [1:01:20] Cpgs in the u.s. spend about 200 billion dollars a year on advertising and currently about a quarter of that is digital. And so the. The you know a typical cpg spends like about thirty percent of their gross sales on advertising and you know at the moment instacart is collecting about less than three percent of its sales in advertising so I think they're saying like hey. Advertising is super effective it's an important part of our economic model and there's a ton of. Of potential growth for us in this market and that cpgs need us and they amongst their claims about the size of their business, there are 50 500 brands that are advertising on instacart today and those are. At the moment all brands that sell. [1:02:18] Whose Goods get sold on instacart so we call that endemic advertisers right so it's it's Mondelez selling cookies and folks like that a lot of advertising companies. Sell ads to people that aren't necessarily selling through the. The the platform we call those non-endemic advertisers and we I don't think there are any non-endemic advertisers on instacart as of yet. But so at the Top Line like these are these are solid fundamentals for an ad business you like. [1:02:54] From my perspective retail media networks are super important evolution in the space they are very important I actually think for a lot of smaller retailers they get overhyped and that there's a problem with scale with a lot of these but instacart appears to be one of the companies. That has enough scale to build a real. A real business around this there is a unique problem that instacart has with ads that you know I think they've only been partially able to remediate so far who's paying for the ads. [1:03:25] Right so they talked about the brands paying for the ad right it's Procter & Gamble about the ad but there's a lot of stakeholders with budgets at Procter & Gamble, there's Mark Pritchard that buys Super Bowl ads and tries to build the brand and make people love tied but there are also account teams, that are trying to Goose the sales at their account so there's a Walmart account team and a Kroger account team and an Albertsons account team and all of those guys have an ad budget, that they want to use to sell more stuff at Walmart Kroger and Albertsons respectively. And so the big problem you have with instacart is you spend that ad dollar with instacart and you don't actually know. Which retailer it's going to impact. Right and so it's kind of like it has to come out of the top of funnel ad budget but it's bottom of the funnel Performance Marketing, type ads mostly search ads and so not saying that model can't work but it's. [1:04:33] The the guys with budgets that are used to buying ads are used to a slightly different structure so I will say that at the moment instacart causes a lot of consternation because it's a it's an unusual Beast that people don't exactly know how to budget for or how to spend their money on and you know I would assume if instacart wants to grow a lot they have to make that, easier for for the brands to do. Scot: [1:05:00] Yeah so what do you think. They're so this is a relatively good chunk of Revenue where do you think they're getting it from is it online going offline I mean offline going online are they taking it from Google are they taking it from couponing or. Two Brands even do like newspaper inserts are still a thing like I know that back in the day. Jason: [1:05:22] So I know I yeah I think. Brands are pretty pretty rapidly shifting their their dollars to digital vehicles and so two things like there's you know traditional kind of, newspaper magazine advertising that's atrophying and and the brands are replacing that with digital there's a slight misnomer the whole privacy thing and Facebook is a real thing but you know who wasn't buying a huge amounts of Facebook ads are like National cpgs with huge brand recall so so you know those tended to be smaller Brands and longer tail things so it's less like oh. [1:06:05] The these guys are shifting from Facebook it's more they're shifting from old-school marketing and over are television to to these digital vehicles but a big chunk of it is still coming out of these trade budgets right and so there may have been a pool of money that was allocated to spend at Kroger and it used to get spend on newspaper circulars that were like Kroger ads that fell out of the newspaper and that's an increasingly ineffective vehicle or maybe they even got spent on floor decals in the aisle at Kroger right you know like Shopper marketing tactics or trade tactics and so increasingly the retail media networks are getting a chunk of those trade dollars and I do think instacart is getting some of those even though it's trickier to do because you know it's not allocated exactly 21 specific retailer at the moment. Scot: [1:07:07] Yeah the so what did the ad formats I've seen is I always get this one that's like you through some Quaker Oats granola bars in there if you add these six things will give you a five bucks or something I've seen a coupon and I've seen a you know an upsell hey you've previously bought this or you may like this are there those are the three main add units or am I missing something. Jason: [1:07:33] Yeah so I am not going to speak specifically about the variation in ad units but as a general rule like probably I'm assuming the most predominant ads on the platform are search ads right so people search for products like always and you know above all the organic results are a bunch of sponsored ads right and so off very often those don't have a special offer in them they're just premium. [1:08:00] And so a big chunk is probably those those search ads you know then they're there are like Banner type ads that that land either on like the homepage of a particular retailer or on a category page or subcategory page and more often those are likely to have some call-to-action offer in them so they might have a promotion or a discount of some kind and then in the digital space um there's a lot of what we call like top off and impulse ads which are what you were just talking about right and you know one of the big problems we have with digital grocery is when you go shopping at the grocery store your wife sends you to the store with a list of 10 items and you buy all those 10 items but then you walk by the ice cream aisle on your way to the cash wrap and you add ice cream even though you didn't plan to buy ice cream and then when you're standing in the cash wrap, you're sneering at that Snickers bar or that Wrigley gum and you add that to the car and maybe a cold Coke to drink on the way home from the grocery store so a big chunk of a traditional grocer sales are all these unplanned impulse purchases and that. [1:09:16] By default happens a lot less in digital Grocery and so a lot of these ad formats are kind of are, our Industries early efforts to try to reinvent digital impulse and I would I would call it pretty imperfect at the moment. Scot: [1:09:35] Don't you get a nursing inside about gum or something like because self-checkout smelled the gum that serendipity. Jason: [1:09:42] Yeah the the that that cash wrap used to be the most valuable real estate in a grocery store like the most Revenue per square foot was that what we call the cash wrap which is the. The conveyor belt that you stand in line and actually the first thing that killed the cash wrap was not any of this digital shopping or any of these things it was. Facebook and the mobile phone and simply because you now had something else to do when you are standing

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Ben and Tom go over important earnings reports in Google and Microsoft, the UPS deal, and by the way, it's Fed Day!For information on how to join the Zoom calls live each morning at 8:30 EST, visit https://www.narwhalcapital.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhalcapital.com/disclosure

Three things to know today CompTIA: Channel Confidence High, Cybersecurity Drives Growth Amid Job Shifts Tech Shifts: Google Workspace Adopts Passkeys, Microsoft Replaces Cortana, ConnectWise Enhances SaaS Security AND Zoom Enhances Privacy with EEA Data Storage and Audit Tools; Launches AI for Missed Meetings   Advertiser: https://oit.co/mspradio/     Do you want the show on your podcast app or the written versions of the stories? Subscribe to the Business of Tech: https://www.businessof.tech/subscribe/   Support the show on Patreon:  https://patreon.com/mspradio/   Want our stuff?  Cool Merch?  Wear “Why Do We Care?” - Visit https://mspradio.myspreadshop.com   Follow us on: Facebook: https://www.facebook.com/mspradionews/ Twitter: https://twitter.com/mspradionews/ Instagram: https://www.instagram.com/mspradio/ LinkedIn: https://www.linkedin.com/company/28908079/  

Последний месяц весны – время, когда все крупные IT-компании проводят свои ежегодные конференции для разработчиков. В сегодняшнем выпуске подкаста подводим итоги мероприятий Google и Microsoft, вспоминаем вместе с Selectel самые громкие хакерские взломы в истории, а также обсуждаем слухи вокруг сделки по продаже Яндекса. Таймкоды: 00:00:00 — Вступление BeardyCast 406 «Настоящее и будущее журналистики. В гостях Мария Погребняк, «Дневники Лоры Палны» Закрытый клуб BeardyCast 00:04:33 — Итоги презентации Google Материал на CNBC 00:47:45 — Итоги презентации Microsoft Материал на The Verge 00:58:34 — Взломы крупных компаний. Партнер выпуска — Selectel. Узнайте подробнее про защищенную инфраструктуру и сервисы информационной безопасности от Selectel для проектов с любыми требованиями к защищенности системы. Саундтрек к сериалу «Мистер робот» 01:21:39 — Реструктуризация Яндекса Путин согласовал сделку по продаже «Яндекса» трём российским миллиардерам и ВТБ — The Bell 01:28:29 — Наушники TWS Nothing Ear 2 BigGeek — самый дружелюбный магазин гаджетов. Промокод BORODA. BeardyCast 403 «

Become a patron: https://www.patreon.com/iftheshoesfit Buy 7 Secret Sources of Inspiration (affiliate link): https://amzn.to/42ouNel Step into the shoes of Google, Microsoft, and OpenAI. After ten years, the Godfather of AI, Geoffrey Hinton, quit Google over fears of “bad actors” doing “bad things” with AI. Now you have a meeting with the Biden Administration to discuss the need for ethics and trustworthy innovation. Walk us through your plans for handling AI before the feds handle it for you, live and in public, if you will. Step into the shoes of Vice. According to the New York Times, you're on the verge of bankruptcy. Walk us through your plan for preventing mass tapouts. REGULAR FEATURE: HEEL TURN REGULAR FEATURE: MISTYAF

0:00 look, it's a monday 0:07 Intel Core rebranding 1:28 'Godfather of AI' quits Google with warning 2:44 Microsoft Silicon ARM chips? 3:33 Grammarly 4:20 QUICK BITS 4:26 Google Pixel Fold leaks 4:57 Edge browser ad for Bing 5:40 EA blames Jedi bugs on W10 6:19 Matrox announces Intel GPUs 7:03 Steam Deck controls turret News Sources: https://lmg.gg/eSSNs

This week, we had the Google April 2023 reviews update finish rolling out after 13 days. That update was pretty heated toward the last week of the rollout. Google clarified that page experience is a ranking signal but not a ranking system. Google asked you to submit...

Samsung soll mit dem Gedanken spielen, Microsofts Bing-Suchmaschine in seine Voreinstellungen zu nehmen. Für Google wäre das ein schwerer Schlag. Web: https://www.epochtimes.de Probeabo der Epoch Times Wochenzeitung: https://bit.ly/EpochProbeabo Twitter: https://twitter.com/EpochTimesDE YouTube: https://www.youtube.com/channel/UC81ACRSbWNgmnVSK6M1p_Ug Telegram: https://t.me/epochtimesde Gettr: https://gettr.com/user/epochtimesde Facebook: https://www.facebook.com/EpochTimesWelt/ Unseren Podcast finden Sie unter anderem auch hier: iTunes: https://podcasts.apple.com/at/podcast/etdpodcast/id1496589910 Spotify: https://open.spotify.com/show/277zmVduHgYooQyFIxPH97 Unterstützen Sie unabhängigen Journalismus: Per Paypal: http://bit.ly/SpendenEpochTimesDeutsch Per Banküberweisung (Epoch Times Europe GmbH, IBAN: DE 2110 0700 2405 2550 5400, BIC/SWIFT: DEUTDEDBBER, Verwendungszweck: Spenden) Vielen Dank! (c) 2023 Epoch Times

จะเกิดอะไรขึ้นเมื่อสองช้างสารในวงการเทค Google และ Microsoft ปะทะกันอย่างดุเดือด?   ไม่กี่เดือนที่ผ่านมา ChatGPT เอไอแชตบอตที่มี Microsoft เป็นผู้สนับสนุนหลักได้สร้างแรงสั่นสะเทือนไปทั่วโลก นั่นเป็นเพราะศักยภาพของมันที่สามารถโต้ตอบ ค้นหาข้อมูล พร้อมสรุปความได้ราวกับพวกเรากำลังสื่อสารกับมนุษย์ ถึงขนาดที่ ซันดาร์ พิชัย CEO ของ Google บอกว่านี่คือภัยคุกคามของบริษัท และถึงเวลาที่ Google จะต้องหาทางต่อกรกับ Microsoft    การปะทะกันระหว่างสองบริษัทเทคยักษ์ใหญ่จะสร้างความเปลี่ยนแปลงอะไร ตำแหน่ง Search Engine อันดับหนึ่งจะถูกสั่นคลอนหรือไม่ และเราจะได้อะไรจากเหตุการณ์นี้ หาคำตอบใน Executive Espresso

The AI morning after A week after the irrational exuberance, reality sets in. It's still Bing. And it's still competing against Google Microsoft shares an update on Bing AI rollout Google employees were not amused at botched Bard announcement Microsoft to add AI to Office in March Everyone is doing AI now. Including Opera and Notion Windows 11 New Windows 11 Dev build adds more live captions IE was disabled in Windows 11 on Patch Tuesday. It's dead, Jim 2FA is coming to Windows 11. It's all in the toast Microsoft 365 Looks like Skype revenue has plummeted over the past decade And full of "meet your new girlfriend" messages if you don't lock down from defaults Microsoft finally retired the Yammer brand. And you're never going to believe what happened next Corporate GitHub lays off 10 percent of staff, going fully remote More jobs cuts announced in Surface, HoloLens, Xbox Xbox Just kidding: Activision to release a major Call of Duty title this year Xbox February update is now available with Google Home app integration Tips & Picks Tip of the week: Get started with the new Bing AI. Bing AI apparently has some "creator prompts" that will jumpstart certain types of tasks: -Letter (Write a letter) -Code (Write code) -Movie (Write a script) -Story (Write a story) -Poem (Write a poem) -Summary (Write a summary) -Tweet (Write a tweet) -Blog post (Write a blog post) -Quiz (Write a quiz) -Joke (Write a joke) App pick of the week: DALL-E This Week on RunAs: Strengthening Security with Jess Dodson Brown liquor pick of the week: Kvint Divin Hosts: Leo Laporte, Paul Thurrott, and Richard Campbell Download or subscribe to this show at https://twit.tv/shows/windows-weekly Get episodes ad-free with Club TWiT at https://twit.tv/clubtwit Check out Paul's blog at thurrott.com The Windows Weekly theme music is courtesy of Carl Franklin. Sponsor: cachefly.com

The AI morning after A week after the irrational exuberance, reality sets in. It's still Bing. And it's still competing against Google Microsoft shares an update on Bing AI rollout Google employees were not amused at botched Bard announcement Microsoft to add AI to Office in March Everyone is doing AI now. Including Opera and Notion Windows 11 New Windows 11 Dev build adds more live captions IE was disabled in Windows 11 on Patch Tuesday. It's dead, Jim 2FA is coming to Windows 11. It's all in the toast Microsoft 365 Looks like Skype revenue has plummeted over the past decade And full of "meet your new girlfriend" messages if you don't lock down from defaults Microsoft finally retired the Yammer brand. And you're never going to believe what happened next Corporate GitHub lays off 10 percent of staff, going fully remote More jobs cuts announced in Surface, HoloLens, Xbox Xbox Just kidding: Activision to release a major Call of Duty title this year Xbox February update is now available with Google Home app integration Tips & Picks Tip of the week: Get started with the new Bing AI. Bing AI apparently has some "creator prompts" that will jumpstart certain types of tasks: -Letter (Write a letter) -Code (Write code) -Movie (Write a script) -Story (Write a story) -Poem (Write a poem) -Summary (Write a summary) -Tweet (Write a tweet) -Blog post (Write a blog post) -Quiz (Write a quiz) -Joke (Write a joke) App pick of the week: DALL-E This Week on RunAs: Strengthening Security with Jess Dodson Brown liquor pick of the week: Kvint Divin Hosts: Leo Laporte, Paul Thurrott, and Richard Campbell Download or subscribe to this show at https://twit.tv/shows/windows-weekly Get episodes ad-free with Club TWiT at https://twit.tv/clubtwit Check out Paul's blog at thurrott.com The Windows Weekly theme music is courtesy of Carl Franklin. Sponsor: cachefly.com

The AI morning after A week after the irrational exuberance, reality sets in. It's still Bing. And it's still competing against Google Microsoft shares an update on Bing AI rollout Google employees were not amused at botched Bard announcement Microsoft to add AI to Office in March Everyone is doing AI now. Including Opera and Notion Windows 11 New Windows 11 Dev build adds more live captions IE was disabled in Windows 11 on Patch Tuesday. It's dead, Jim 2FA is coming to Windows 11. It's all in the toast Microsoft 365 Looks like Skype revenue has plummeted over the past decade And full of "meet your new girlfriend" messages if you don't lock down from defaults Microsoft finally retired the Yammer brand. And you're never going to believe what happened next Corporate GitHub lays off 10 percent of staff, going fully remote More jobs cuts announced in Surface, HoloLens, Xbox Xbox Just kidding: Activision to release a major Call of Duty title this year Xbox February update is now available with Google Home app integration Tips & Picks Tip of the week: Get started with the new Bing AI. Bing AI apparently has some "creator prompts" that will jumpstart certain types of tasks: -Letter (Write a letter) -Code (Write code) -Movie (Write a script) -Story (Write a story) -Poem (Write a poem) -Summary (Write a summary) -Tweet (Write a tweet) -Blog post (Write a blog post) -Quiz (Write a quiz) -Joke (Write a joke) App pick of the week: DALL-E This Week on RunAs: Strengthening Security with Jess Dodson Brown liquor pick of the week: Kvint Divin Hosts: Leo Laporte, Paul Thurrott, and Richard Campbell Download or subscribe to this show at https://twit.tv/shows/windows-weekly Get episodes ad-free with Club TWiT at https://twit.tv/clubtwit Check out Paul's blog at thurrott.com The Windows Weekly theme music is courtesy of Carl Franklin. Sponsor: cachefly.com

Hundreds of people previously employed by Israel's Unit 8200 intelligence operation now work for Facebook, Google, Microsoft, and other big American social media and technology companies, according to a report by Mint Press.Diplomacy is ramping up around Russia's war in Ukraine, but rather than focusing on negotiations, talks are centered on hardening each side's battlefield position before a potential Russian offensive that Ukraine and its allies expect early next year. Also, Iran and North Korea are being drawn into the coming prospects of World War Three.Rick Wiles, Doc Burkhart. Airdate 12/22/22A hilarious gift idea for Christmas 2022! Order your Fauci Elf! https://tru.news/faucielfIt's the Final Day! The day Jesus Christ bursts into our dimension of time, space, and matter. You can order the second edition of Rick's book, Final Day. https://www.rickwiles.com/final-dayYou can partner with us by visiting TruNews.com/donate, calling 1-800-576-2116, or by mail at PO Box 690069 Vero Beach, FL 32969.

Amazon (AMZN), Google (GOOG) (GOOGL), Microsoft (MSFT), Oracle (ORCL) share Pentagon's $9B cloud awards. Musk bankers look at Tesla (TSLA) margin loans to cut Twitter debt - report. Apple (AAPL) working on a new encryption system to keep hackers at bay, protect data: report.