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The Competition Beyond Bing: "But all these vertical search platforms, or vertical discovery platforms are actually Google's competitors. Up until maybe this Chat GPT integration, I used to think Bing was Google's competitor."
Pinterest's Role in Visual Search: "Pinterest is a primary search engine destination as to where people chose to go for photos and visual inspiration. Most people, we will be more like Pinterest."
Evolution of Online Shopping Experience: "And so to have an infrastructure where you can kind of search throughout the entire Internet at once in a conversational way, and then it actually be transactional versus Pinterest. I think only 20 something percent of all the images on Pinterest are actually linked out."
E-commerce Partnerships and Growth Strategies: "We have revenue share deals with all of them. We have a fair amount of direct deals with the brands themselves, whether these are companies I had previous relationships with, or we've had a lot of companies reach out."
E-commerce Marketing Strategy: "With us, when you're on the back of the showroom, not only do you see the customer and you own the customer because as of right now, they're checking out with you. But then on the back end of once you integrate with us, you can see how people got to the product."
The Power of Conversational AI: "What we think is valuable is in things that entirely change the trajectory of the journey and make it not a little bit better, not ten times better, make it a thousand times better. And so I'm very long the conversational component, I think GPT has made it easy that anyone with an Internet connection can now have a conversation with a chat agent that sounds organic, who knows a lot, vast knowledge."
Building a Billion-Dollar Business: "If your goal is to build, and not just because you want to, but because the business actually could, if executed, be a one 2510 billion dollars business, well, then the reality is there is 100 competitors in every space. And capital isn't always the core constraint, but it is a fundamental constraint, and you can only get so much done with little capital, candidly."
Challenges of Bootstrapping in a Competitive Market: "It's very difficult to bootstrap a business when all of your competitors are one in a market that's moving really quickly and are raising significant capital."
E-commerce Data Utilization Challenges: "The big problem in e commerce, specifically in fashion, footwear, jewelry, accessories, is that every merchant saves their data differently. Some merchants use Shopify as a back end, some use woocommerce, some have Magento."
The Need for Unbiased Industry Mediators: "Or is there something that's so broken in such a mess that even if they wanted to, the market participants would not solve because Macy's will only ever solve it for themselves. They might standardize their data, but why would they go solve it for Sachs? So you need like this independent company who has no bias and doesn't have any initiatives other than to solve it for the consumer and has relationships with all the brands."
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