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Starbucks Has AI Egg On Its Face, Google Reinvents Search & Ross Stores Breaks Records | Fast Five · Omni Talk Retail

• 0:00
  Hello
• 0:00
  and
• 0:00
  welcome
• 0:00
  to
• 0:01
  the
• 0:01
  Omnitalk
• 0:01
  Retail
• 0:02
  Fast
• 0:02
  5,
• 0:02
  which
• 0:03
  comes
• 0:03
  to
• 0:03
  you
• 0:03
  by
• 0:03
  way
• 0:03
  of
• 0:04
  the
• 0:04
  Omnitalk
• 0:04
  retail
• 0:05
  podcast
• 0:05
  network,
• 0:05
  the
• 0:06
  number
• 0:06
  one
• 0:06
  retail
• 0:07
  podcast
• 0:07
  network
• 0:08
  according
• 0:08
  to
• 0:08
  Apple
• 0:09
  Podcasts
• 0:09
  and
• 0:10
  Feedspot.
• 0:10
  In
• 0:11
  today's
• 0:11
  episode,
• 0:11
  we
• 0:12
  welcome
• 0:12
  back
• 0:12
  guest
• 0:13
  host
• 0:13
  extraordinaire
• 0:14
  Laura
• 0:15
  Kennedy.
• 0:15
  And
• 0:16
  together
• 0:16
  we
• 0:16
  got
• 0:17
  into
• 0:17
  some
• 0:17
  wonderful
• 0:18
  discussions
• 0:18
  about
• 0:19
  where
• 0:19
  and
• 0:19
  how
• 0:20
  AI
• 0:20
  will
• 0:21
  and
• 0:21
  will
• 0:21
  also
• 0:22
  not
• 0:22
  work
• 0:22
  inside
• 0:23
  of
• 0:23
  retail
• 0:23
  stores.
• 0:24
  This
• 0:24
  is
• 0:25
  our
• 0:25
  last
• 0:25
  podcast
• 0:25
  of
• 0:26
  the
• 0:26
  month
• 0:26
  of
• 0:26
  May.
• 0:26
  Thank
• 0:26
  you.
• 0:27
  Thanks
• 0:27
  for
• 0:27
  tuning
• 0:27
  in
• 0:27
  to
• 0:27
  this
• 0:28
  week's
• 0:28
  episode.
• 0:29
  And
• 0:29
  so
• 0:29
  producer
• 0:30
  Ella,
• 0:30
  let's
• 0:31
  roll
• 0:31
  that
• 0:31
  teaser
• 0:32
  trailer.
• 0:33
  I
• 0:33
  told
• 0:33
  him
• 0:33
  to
• 0:34
  his
• 0:34
  face.
• 0:34
  I
• 0:34
  was
• 0:34
  like,
• 0:34
  I
• 0:34
  don't
• 0:34
  think
• 0:34
  we'll
• 0:35
  ever
• 0:35
  see
• 0:35
  you
• 0:35
  roll
• 0:35
  out
• 0:35
  to
• 0:35
  all
• 0:36
  Old
• 0:36
  Navy
• 0:36
  stores.
• 0:36
  And
• 0:36
  he's
• 0:36
  like,
• 0:37
  I'll
• 0:37
  bet
• 0:37
  you
• 0:37
  a
• 0:37
  beer.
• 0:38
  If
• 0:38
  you're
• 0:38
  going
• 0:38
  to
• 0:38
  promise
• 0:39
  that
• 0:39
  the
• 0:39
  human
• 0:39
  in
• 0:39
  the
• 0:39
  loop
• 0:40
  is
• 0:40
  a
• 0:40
  big
• 0:40
  part
• 0:40
  of
• 0:41
  the
• 0:41
  solution,
• 0:41
  then
• 0:42
  employee
• 0:42
  training
• 0:42
  needs
• 0:43
  to
• 0:43
  be
• 0:43
  a
• 0:43
  higher
• 0:43
  priority.
• 0:44
  We
• 0:44
  don't
• 0:45
  know
• 0:45
  all
• 0:45
  the
• 0:45
  psychological
• 0:46
  reasons
• 0:47
  about
• 0:47
  why
• 0:47
  we
• 0:47
  choose
• 0:48
  to
• 0:48
  engage
• 0:48
  and
• 0:49
  actually
• 0:49
  consume
• 0:50
  products
• 0:50
  from
• 0:50
  the
• 0:50
  places
• 0:51
  we
• 0:51
  consume
• 0:52
  them
• 0:52
  from.
• 0:53
  Our
• 0:53
  payment
• 0:54
  systems
• 0:54
  were
• 0:54
  built
• 0:55
  to
• 0:55
  keep
• 0:55
  robots
• 0:56
  out
• 0:56
  and
• 0:57
  now
• 0:57
  we're
• 0:57
  trying
• 0:58
  to
• 0:58
  reintroduce
• 0:58
  them.
• 0:59
  My
• 0:59
  prediction
• 1:00
  is
• 1:00
  that
• 1:00
  very
• 1:00
  soon
• 1:00
  we're
• 1:00
  going
• 1:01
  to
• 1:01
  see
• 1:01
  a
• 1:01
  national
• 1:01
  branded
• 1:02
  retailer
• 1:03
  that
• 1:03
  makes
• 1:03
  its
• 1:04
  name
• 1:04
  in
• 1:04
  resale
• 1:05
  with
• 1:05
  stores
• 1:06
  throughout
• 1:06
  the
• 1:06
  country.
• 1:09
  All
• 1:09
  right,
• 1:09
  Laura
• 1:10
  Kennedy,
• 1:10
  Indiana's
• 1:11
  own.
• 1:11
  How
• 1:11
  have
• 1:12
  you
• 1:12
  been
• 1:12
  keeping
• 1:12
  since
• 1:12
  you
• 1:13
  crushed
• 1:13
  your
• 1:13
  first
• 1:13
  guest
• 1:14
  host
• 1:14
  appearance
• 1:15
  on
• 1:15
  the
• 1:15
  Fast5
• 1:16
  last
• 1:16
  month?
• 1:17
  You
• 1:17
  know,
• 1:18
  just
• 1:18
  the
• 1:18
  usual
• 1:19
  kind
• 1:19
  of
• 1:19
  end
• 1:19
  of
• 1:20
  spring
• 1:20
  stuff.
• 1:21
  The
• 1:21
  school
• 1:21
  year
• 1:21
  wound
• 1:22
  down.
• 1:23
  Month
• 1:23
  of
• 1:24
  May
• 1:24
  is
• 1:24
  big
• 1:24
  in
• 1:24
  Indianapolis
• 1:25
  with
• 1:25
  events
• 1:25
  around
• 1:26
  the
• 1:26
  Indy
• 1:26
  500.
• 1:28
  Last
• 1:28
  week
• 1:28
  I
• 1:28
  was
• 1:28
  at
• 1:29
  the
• 1:29
  lead
• 1:29
  conference
• 1:29
  in
• 1:30
  New
• 1:30
  York.
• 1:31
  Met
• 1:31
  a
• 1:31
  lot
• 1:31
  of
• 1:31
  people
• 1:32
  who
• 1:32
  are
• 1:32
  thinking
• 1:33
  really
• 1:33
  creatively
• 1:34
  and
• 1:36
  innovatively
• 1:36
  about
• 1:37
  brands
• 1:37
  and
• 1:38
  marketing
• 1:38
  and
• 1:38
  digital
• 1:39
  commerce.
• 1:39
  So
• 1:40
  that
• 1:40
  was
• 1:41
  a
• 1:41
  super
• 1:41
  fun
• 1:42
  place
• 1:42
  to
• 1:42
  be.
• 1:43
  Yeah.
• 1:43
  How
• 1:44
  was,
• 1:44
  yeah,
• 1:45
  tell
• 1:45
  us
• 1:45
  more
• 1:45
  about
• 1:45
  that.
• 1:45
  How
• 1:46
  many
• 1:46
  days
• 1:46
  was
• 1:46
  it?
• 1:46
  Where
• 1:47
  was
• 1:47
  it
• 1:47
  in
• 1:47
  New
• 1:47
  York?
• 1:48
  It's,
• 1:48
  it
• 1:48
  was
• 1:49
  at
• 1:49
  Pier
• 1:49
  36
• 1:50
  in
• 1:50
  New
• 1:50
  York.
• 1:51
  It's,
• 1:51
  it
• 1:51
  was,
• 1:51
  it's
• 1:52
  a
• 1:52
  two
• 1:52
  day
• 1:52
  conference.
• 1:53
  I
• 1:53
  wasn't
• 1:53
  able
• 1:53
  to
• 1:54
  stay
• 1:54
  for
• 1:54
  the
• 1:54
  whole
• 1:54
  thing,
• 1:55
  but
• 1:55
  there's
• 1:55
  a
• 1:55
  huge
• 1:56
  D
• 1:56
  to
• 1:56
  C
• 1:57
  element
• 1:58
  there.
• 1:58
  So
• 1:58
  there's
• 1:58
  a
• 1:58
  lot
• 1:59
  of
• 1:59
  focus
• 1:59
  on
• 1:59
  brands
• 2:00
  and
• 2:01
  a
• 2:01
  lot
• 2:01
  of
• 2:02
  the
• 2:02
  tech.
• 2:03
  A
• 2:03
  lot
• 2:04
  of
• 2:04
  the
• 2:04
  tech.
• 2:05
  You
• 2:05
  know,
• 2:05
  exhibitors
• 2:06
  are
• 2:07
  sort
• 2:08
  of
• 2:08
  marketing
• 2:08
  and
• 2:08
  brand
• 2:09
  oriented
• 2:10
  in
• 2:10
  terms
• 2:11
  of
• 2:11
  helping
• 2:11
  you
• 2:11
  reach
• 2:11
  your,
• 2:12
  your
• 2:12
  customers
• 2:13
  in
• 2:14
  a
• 2:14
  faster,
• 2:15
  better
• 2:15
  way.
• 2:16
  And
• 2:16
  so
• 2:16
  it
• 2:16
  was
• 2:16
  my
• 2:16
  first
• 2:16
  time
• 2:17
  attending.
• 2:17
  It
• 2:18
  was
• 2:18
  great.
• 2:18
  I
• 2:18
  saw
• 2:19
  some
• 2:19
  great
• 2:19
  content
• 2:20
  and
• 2:20
  some
• 2:20
  great
• 2:20
  brands
• 2:21
  talk
• 2:21
  about
• 2:21
  how
• 2:22
  they
• 2:22
  approach
• 2:22
  their
• 2:22
  customers.
• 2:23
  I
• 2:23
  also
• 2:25
  interviewed
• 2:26
  a
• 2:26
  VP
• 2:26
  from
• 2:27
  Steve
• 2:28
  Madden
• 2:29
  and
• 2:30
  about
• 2:30
  their
• 2:30
  efforts
• 2:31
  in
• 2:31
  gentic
• 2:31
  commerce.
• 2:32
  So.
• 2:33
  And
• 2:33
  it
• 2:33
  Was.
• 2:33
  It
• 2:33
  was
• 2:34
  a
• 2:34
  really
• 2:34
  interesting
• 2:34
  conversation.
• 2:35
  They're
• 2:35
  one
• 2:35
  of
• 2:35
  the
• 2:36
  first
• 2:36
  brands
• 2:36
  to
• 2:37
  get
• 2:37
  on
• 2:37
  ChatGPT
• 2:38
  in
• 2:38
  the.
• 2:39
  When
• 2:39
  instant
• 2:39
  checkout
• 2:40
  existed.
• 2:41
  Yeah,
• 2:41
  that's
• 2:41
  right.
• 2:41
  That's
• 2:42
  right.
• 2:42
  They
• 2:42
  were.
• 2:43
  Yeah.
• 2:43
  And
• 2:43
  also
• 2:44
  that's
• 2:44
  interesting.
• 2:44
  So
• 2:44
  I
• 2:44
  imagine
• 2:45
  that
• 2:45
  might
• 2:45
  even.
• 2:45
  We'll
• 2:46
  see
• 2:46
  if
• 2:46
  that
• 2:46
  filters
• 2:46
  into
• 2:46
  the
• 2:47
  conversation
• 2:47
  today
• 2:48
  got
• 2:48
  planned
• 2:48
  for
• 2:48
  you
• 2:48
  or
• 2:49
  not.
• 2:49
  But.
• 2:49
  But
• 2:49
  to
• 2:50
  that
• 2:50
  point.
• 2:50
  To
• 2:50
  the
• 2:50
  point.
• 2:50
  I'm
• 2:51
  glad.
• 2:51
  Thanks
• 2:51
  for.
• 2:51
  Thanks
• 2:52
  for
• 2:52
  telling
• 2:52
  us
• 2:52
  about
• 2:52
  that.
• 2:52
  But
• 2:53
  remind
• 2:53
  our
• 2:53
  audience,
• 2:53
  for
• 2:54
  those
• 2:54
  that
• 2:54
  are
• 2:54
  maybe
• 2:54
  tuning
• 2:54
  in
• 2:55
  first
• 2:55
  time,
• 2:55
  because
• 2:55
  we
• 2:55
  have
• 2:56
  a
• 2:56
  lot
• 2:56
  of
• 2:56
  new
• 2:56
  listeners
• 2:56
  each
• 2:56
  and
• 2:57
  every
• 2:57
  week,
• 2:57
  remind
• 2:58
  our
• 2:58
  audience
• 2:58
  about
• 2:58
  yourself,
• 2:59
  Laura,
• 2:59
  what
• 2:59
  your
• 2:59
  background
• 3:00
  is
• 3:00
  and
• 3:00
  you
• 3:00
  know,
• 3:00
  what,
• 3:01
  like,
• 3:01
  what
• 3:01
  brought
• 3:01
  you
• 3:02
  to
• 3:02
  lead
• 3:02
  conference.
• 3:02
  Like,
• 3:03
  why
• 3:03
  is
• 3:03
  this
• 3:03
  your
• 3:04
  thing?
• 3:05
  Yeah,
• 3:05
  yeah,
• 3:05
  I'm,
• 3:06
  I'm
• 3:06
  a
• 3:07
  retail
• 3:07
  strategist,
• 3:08
  most
• 3:08
  recently
• 3:08
  of
• 3:09
  CB
• 3:09
  Insights,
• 3:10
  previously
• 3:10
  at
• 3:11
  Kantar
• 3:13
  High
• 3:13
  Level.
• 3:13
  I've
• 3:13
  spent
• 3:14
  my
• 3:14
  career
• 3:14
  helping
• 3:14
  big
• 3:15
  companies
• 3:15
  understand
• 3:16
  where
• 3:16
  retail
• 3:17
  is
• 3:17
  heading
• 3:17
  and
• 3:17
  what
• 3:17
  to
• 3:18
  do
• 3:18
  about
• 3:18
  it.
• 3:19
  Right
• 3:19
  now
• 3:19
  I'm
• 3:20
  actively
• 3:20
  looking
• 3:20
  for
• 3:20
  my
• 3:21
  next
• 3:21
  opportunity
• 3:22
  somewhere
• 3:22
  where
• 3:23
  strategy
• 3:23
  meets
• 3:24
  commercial
• 3:24
  stakes.
• 3:26
  Build
• 3:26
  on
• 3:26
  my
• 3:26
  background
• 3:27
  in
• 3:27
  research
• 3:28
  and
• 3:28
  advisory.
• 3:29
  And
• 3:30
  so,
• 3:30
  yeah,
• 3:30
  it
• 3:30
  was,
• 3:31
  it
• 3:31
  was
• 3:31
  great
• 3:31
  to
• 3:31
  learn
• 3:32
  a
• 3:33
  lot
• 3:33
  more
• 3:33
  about
• 3:33
  what's
• 3:34
  happening
• 3:34
  on
• 3:34
  the
• 3:34
  brand
• 3:35
  and
• 3:35
  marketing
• 3:35
  side
• 3:35
  of
• 3:36
  things
• 3:36
  at
• 3:36
  the
• 3:36
  lead
• 3:36
  last
• 3:37
  week.
• 3:37
  And,
• 3:38
  you
• 3:38
  know,
• 3:38
  I
• 3:39
  think
• 3:39
  talking
• 3:40
  about
• 3:40
  agent
• 3:40
  to
• 3:40
  commerce
• 3:41
  and
• 3:41
  AI
• 3:41
  and
• 3:42
  commerce,
• 3:43
  it's,
• 3:43
  it's
• 3:44
  the
• 3:44
  confluence
• 3:44
  of
• 3:44
  things
• 3:45
  that
• 3:45
  we've
• 3:45
  seen
• 3:45
  kind
• 3:46
  of
• 3:46
  merging
• 3:46
  closer
• 3:46
  and
• 3:46
  closer
• 3:47
  together
• 3:47
  with
• 3:47
  the
• 3:48
  advent
• 3:48
  of
• 3:48
  digital
• 3:48
  commerce.
• 3:49
  You
• 3:50
  know,
• 3:50
  marketing
• 3:50
  and
• 3:51
  merchandising
• 3:53
  have,
• 3:53
  have.
• 3:53
  Have
• 3:54
  always
• 3:54
  felt
• 3:54
  like
• 3:54
  they
• 3:54
  were
• 3:54
  getting
• 3:55
  closer
• 3:55
  together
• 3:56
  when
• 3:56
  you
• 3:56
  talked
• 3:56
  about
• 3:56
  E
• 3:57
  commerce
• 3:58
  and
• 3:58
  serving
• 3:58
  a
• 3:59
  lot
• 3:59
  of
• 3:59
  the
• 3:59
  same
• 3:59
  purpose.
• 4:01
  And
• 4:01
  so
• 4:01
  I
• 4:02
  think
• 4:02
  this
• 4:02
  was
• 4:02
  a
• 4:02
  good
• 4:03
  illustration
• 4:03
  of
• 4:04
  that
• 4:04
  and
• 4:04
  thinking
• 4:04
  about
• 4:05
  how
• 4:05
  AI
• 4:06
  changes
• 4:07
  buying
• 4:08
  and
• 4:08
  shopping
• 4:09
  and,
• 4:09
  you
• 4:09
  know,
• 4:09
  is
• 4:09
  a
• 4:10
  good
• 4:10
  illustration
• 4:10
  of
• 4:10
  that
• 4:10
  as
• 4:11
  well.
• 4:11
  Yeah,
• 4:12
  yeah,
• 4:12
  it's.
• 4:12
  It's
• 4:13
  definitely
• 4:13
  a
• 4:13
  topic.
• 4:14
  The
• 4:14
  topic
• 4:14
  du
• 4:14
  jour
• 4:15
  each
• 4:15
  and
• 4:15
  every
• 4:15
  week
• 4:15
  on
• 4:15
  this
• 4:16
  podcast
• 4:16
  across
• 4:16
  the
• 4:17
  industry,
• 4:17
  too.
• 4:18
  So,
• 4:18
  Laura,
• 4:18
  before
• 4:18
  we
• 4:19
  get
• 4:19
  going,
• 4:19
  I
• 4:19
  want
• 4:19
  to,
• 4:20
  I
• 4:20
  want
• 4:20
  to
• 4:20
  ask
• 4:20
  you
• 4:20
  a
• 4:20
  question
• 4:21
  I've
• 4:21
  never
• 4:21
  asked
• 4:21
  anyone
• 4:22
  just
• 4:22
  to
• 4:22
  get
• 4:22
  our
• 4:22
  brains
• 4:23
  moving,
• 4:23
  to
• 4:23
  get
• 4:23
  into
• 4:24
  the
• 4:24
  headlines
• 4:24
  here.
• 4:24
  And
• 4:25
  I'm
• 4:25
  curious,
• 4:25
  you
• 4:26
  know,
• 4:26
  for
• 4:26
  all
• 4:27
  the
• 4:27
  other
• 4:27
  guest
• 4:27
  hosts
• 4:28
  that
• 4:28
  have
• 4:28
  either
• 4:28
  already
• 4:28
  hosted
• 4:29
  or
• 4:29
  will
• 4:29
  host
• 4:30
  in
• 4:30
  the
• 4:30
  future,
• 4:31
  since
• 4:31
  you've
• 4:32
  done
• 4:32
  it
• 4:32
  once
• 4:32
  you've
• 4:32
  gotten
• 4:32
  your
• 4:33
  feet
• 4:33
  wet,
• 4:33
  what's
• 4:33
  your
• 4:33
  one
• 4:34
  piece
• 4:34
  of
• 4:34
  advice
• 4:34
  you
• 4:35
  would
• 4:35
  have
• 4:35
  for
• 4:35
  them?
• 4:37
  Well,
• 4:37
  I
• 4:37
  think
• 4:37
  my
• 4:38
  advice
• 4:38
  for
• 4:38
  anything
• 4:39
  like
• 4:39
  this
• 4:39
  or,
• 4:40
  you
• 4:40
  know,
• 4:40
  speaking
• 4:41
  publicly
• 4:42
  or
• 4:42
  to
• 4:43
  somebody
• 4:43
  in
• 4:43
  the
• 4:43
  press
• 4:44
  or,
• 4:44
  or,
• 4:45
  or
• 4:45
  something
• 4:45
  like
• 4:45
  that
• 4:46
  is
• 4:46
  to,
• 4:47
  to
• 4:47
  speak
• 4:47
  to
• 4:48
  what
• 4:48
  you
• 4:48
  know,
• 4:49
  you
• 4:50
  know,
• 4:50
  and,
• 4:50
  and
• 4:51
  really
• 4:51
  try
• 4:51
  and
• 4:52
  dig
• 4:52
  into
• 4:52
  that
• 4:53
  and
• 4:53
  have
• 4:53
  fun
• 4:53
  with
• 4:54
  what
• 4:54
  you
• 4:54
  don't
• 4:54
  know,
• 4:55
  you
• 4:55
  know,
• 4:55
  it's
• 4:55
  good
• 4:55
  to
• 4:56
  acknowledge
• 4:56
  what
• 4:56
  you
• 4:56
  don't
• 4:56
  know,
• 4:57
  but
• 4:57
  have
• 4:57
  fun
• 4:57
  with
• 4:57
  it.
• 4:58
  And
• 4:59
  I
• 4:59
  think
• 5:00
  it
• 5:00
  gives
• 5:01
  a
• 5:01
  good
• 5:01
  opportunity
• 5:01
  for
• 5:02
  the
• 5:03
  co
• 5:03
  host
• 5:03
  and
• 5:03
  you
• 5:03
  to
• 5:04
  kind
• 5:04
  of
• 5:04
  talk
• 5:04
  through
• 5:04
  those
• 5:04
  things.
• 5:05
  You
• 5:06
  know,
• 5:06
  be
• 5:06
  ready
• 5:06
  for
• 5:06
  things
• 5:07
  to
• 5:07
  move
• 5:07
  fast,
• 5:08
  feel
• 5:09
  open
• 5:09
  to
• 5:09
  speak
• 5:09
  your
• 5:10
  mind
• 5:10
  and
• 5:10
  embrace
• 5:11
  the
• 5:11
  serious,
• 5:12
  the
• 5:12
  serious
• 5:12
  business
• 5:13
  stuff,
• 5:13
  but
• 5:13
  also
• 5:13
  where
• 5:14
  we
• 5:14
  can
• 5:14
  joke
• 5:14
  about
• 5:15
  this
• 5:16
  industry
• 5:16
  and,
• 5:17
  you
• 5:17
  know,
• 5:17
  the
• 5:17
  state
• 5:17
  of
• 5:17
  the
• 5:18
  world.
• 5:19
  But,
• 5:19
  you
• 5:19
  know,
• 5:19
  it's
• 5:19
  not,
• 5:20
  it's
• 5:20
  not
• 5:20
  Howard
• 5:21
  Stern
• 5:21
  or,
• 5:22
  or
• 5:22
  call
• 5:22
  her
• 5:22
  daddy
• 5:23
  or
• 5:23
  whatever
• 5:23
  your
• 5:24
  podcast
• 5:24
  of
• 5:24
  choice
• 5:24
  is.
• 5:25
  So,
• 5:25
  you
• 5:25
  know,
• 5:25
  don't
• 5:25
  speak
• 5:26
  too
• 5:26
  freely.
• 5:27
  It's
• 5:28
  definitely
• 5:28
  not
• 5:28
  colored
• 5:28
  daddy,
• 5:29
  that's
• 5:29
  for
• 5:29
  sure.
• 5:29
  Yes,
• 5:30
  exactly.
• 5:30
  That's
• 5:31
  a
• 5:31
  great
• 5:31
  reference.
• 5:31
  Yeah,
• 5:32
  no,
• 5:32
  that's
• 5:32
  great.
• 5:33
  That's
• 5:33
  great.
• 5:33
  That's
• 5:33
  such
• 5:33
  a
• 5:34
  great
• 5:34
  answer
• 5:34
  too,
• 5:34
  you
• 5:34
  know,
• 5:34
  so
• 5:35
  it's
• 5:35
  like
• 5:35
  stay
• 5:35
  in
• 5:35
  your
• 5:35
  lane,
• 5:36
  stay
• 5:36
  curious
• 5:37
  and
• 5:37
  have
• 5:37
  fun.
• 5:38
  You
• 5:38
  know,
• 5:38
  that.
• 5:38
  Which
• 5:38
  is
• 5:39
  kind
• 5:39
  of,
• 5:39
  which
• 5:39
  is
• 5:39
  kind
• 5:39
  of
• 5:39
  our
• 5:39
  motto
• 5:40
  on
• 5:40
  the
• 5:40
  show.
• 5:40
  So
• 5:40
  that's
• 5:41
  great.
• 5:42
  All
• 5:42
  right,
• 5:42
  well,
• 5:42
  Laura,
• 5:42
  should
• 5:43
  we
• 5:43
  get
• 5:43
  to
• 5:43
  today's
• 5:43
  program?
• 5:44
  Let's
• 5:45
  do
• 5:45
  it.
• 5:46
  All
• 5:46
  right,
• 5:47
  let's
• 5:47
  get
• 5:47
  to
• 5:47
  this
• 5:47
  week's
• 5:48
  Fast
• 5:48
  5,
• 5:48
  which
• 5:48
  of
• 5:49
  course
• 5:49
  is
• 5:49
  brought
• 5:49
  to
• 5:49
  you
• 5:50
  with
• 5:50
  the
• 5:50
  help
• 5:50
  and
• 5:50
  support
• 5:51
  of
• 5:51
  the
• 5:51
  A
• 5:51
  and
• 5:52
  M
• 5:52
  consumer
• 5:52
  and
• 5:52
  retail
• 5:53
  group,
• 5:53
  Miracle
• 5:54
  Corso,
• 5:55
  Ocampo
• 5:56
  Capital
• 5:56
  and
• 5:57
  Valoc.
• 5:58
  In
• 5:58
  this
• 5:58
  week's
• 5:58
  Fast5,
• 5:59
  we've
• 5:59
  got
• 5:59
  news
• 5:59
  on
• 6:00
  a
• 6:00
  retail
• 6:00
  inventory
• 6:01
  startup
• 6:01
  backed
• 6:02
  by
• 6:02
  American
• 6:02
  Eagle
• 6:03
  CEO
• 6:03
  that
• 6:03
  has
• 6:04
  reached
• 6:04
  unicorn
• 6:05
  status.
• 6:06
  Google
• 6:06
  Search
• 6:06
  getting
• 6:06
  its
• 6:07
  biggest
• 6:07
  makeover
• 6:08
  in
• 6:08
  over
• 6:08
  25
• 6:08
  years.
• 6:09
  Klarna
• 6:10
  launching
• 6:10
  a
• 6:10
  brand
• 6:10
  new
• 6:10
  shopping
• 6:11
  app
• 6:11
  directly
• 6:12
  inside
• 6:12
  ChatGPT
• 6:13
  with
• 6:13
  live
• 6:14
  prices.
• 6:14
  I
• 6:14
  can
• 6:14
  see
• 6:15
  Laura
• 6:15
  shaking
• 6:15
  her
• 6:15
  head
• 6:15
  on
• 6:16
  that
• 6:16
  one
• 6:16
  already.
• 6:16
  And
• 6:17
  Ross
• 6:17
  stores
• 6:18
  absolutely
• 6:18
  blowing
• 6:19
  past
• 6:19
  expectations
• 6:20
  with
• 6:20
  a
• 6:21
  21%
• 6:22
  sales
• 6:22
  jump.
• 6:23
  But
• 6:23
  we
• 6:23
  begin
• 6:24
  today
• 6:24
  with
• 6:24
  a
• 6:24
  cautionary
• 6:25
  AI
• 6:25
  tale
• 6:26
  straight
• 6:26
  out
• 6:26
  of
• 6:27
  Starbucks.
• 6:28
  All
• 6:28
  right,
• 6:28
  headline
• 6:29
  number
• 6:29
  one.
• 6:29
  Headline
• 6:30
  number
• 6:30
  one
• 6:30
  is
• 6:30
  brought
• 6:30
  to
• 6:30
  you
• 6:31
  of
• 6:31
  course,
• 6:31
  by
• 6:31
  the
• 6:31
  A
• 6:31
  and
• 6:31
  M
• 6:32
  Consumer
• 6:32
  and
• 6:32
  Retail
• 6:32
  Group.
• 6:33
  The
• 6:33
  A
• 6:33
  and
• 6:33
  M
• 6:33
  Consumer
• 6:33
  and
• 6:34
  Retail
• 6:34
  Group
• 6:34
  is
• 6:35
  a
• 6:35
  management
• 6:35
  consulting
• 6:36
  firm
• 6:36
  that
• 6:36
  tackles
• 6:36
  the
• 6:36
  most
• 6:37
  complex
• 6:37
  challenges
• 6:38
  and
• 6:38
  and
• 6:38
  advances
• 6:38
  its
• 6:39
  clients,
• 6:39
  people
• 6:39
  and
• 6:39
  communities
• 6:40
  toward
• 6:40
  their
• 6:40
  maximum
• 6:41
  potential.
• 6:42
  NMCRG
• 6:43
  brings
• 6:43
  the
• 6:43
  experience,
• 6:44
  tools
• 6:44
  and
• 6:44
  operator
• 6:45
  like
• 6:45
  pragmatism
• 6:46
  to
• 6:46
  help
• 6:46
  retailers
• 6:47
  and
• 6:47
  consumer
• 6:47
  products
• 6:48
  companies
• 6:48
  be
• 6:48
  on
• 6:48
  the
• 6:49
  right
• 6:49
  side
• 6:49
  of
• 6:49
  disruption.
• 6:50
  All
• 6:50
  right,
• 6:50
  Laura,
• 6:51
  here
• 6:51
  we
• 6:51
  go.
• 6:52
  Headline
• 6:52
  1.
• 6:52
  Starbucks
• 6:53
  has
• 6:53
  scrapped
• 6:53
  its
• 6:54
  AI
• 6:54
  powered
• 6:54
  inventory
• 6:55
  counting
• 6:55
  tool
• 6:56
  just
• 6:56
  nine
• 6:57
  months
• 6:57
  after
• 6:57
  rolling
• 6:57
  it
• 6:58
  out
• 6:58
  across
• 6:58
  its
• 6:58
  North
• 6:59
  American
• 6:59
  stores.
• 7:00
  After
• 7:00
  the
• 7:00
  system
• 7:01
  repeatedly
• 7:01
  miscounted
• 7:02
  and
• 7:02
  mislabeled
• 7:03
  products,
• 7:04
  including
• 7:04
  confusing
• 7:05
  similar
• 7:06
  milk
• 7:06
  types
• 7:06
  and
• 7:07
  missing
• 7:07
  items
• 7:08
  altogether,
• 7:09
  according
• 7:09
  to
• 7:10
  the
• 7:10
  must
• 7:10
  read
• 7:11
  retail
• 7:11
  coverage
• 7:12
  in
• 7:12
  the
• 7:12
  Huff
• 7:12
  Post.
• 7:13
  Of
• 7:13
  course
• 7:13
  I'm
• 7:14
  joking,
• 7:14
  but
• 7:14
  that
• 7:14
  tells
• 7:14
  you
• 7:15
  something
• 7:15
  about
• 7:15
  this
• 7:15
  story.
• 7:16
  Starbucks
• 7:16
  has
• 7:16
  terminated
• 7:17
  what
• 7:17
  it
• 7:17
  called
• 7:17
  its
• 7:18
  automated
• 7:18
  counting
• 7:18
  program
• 7:19
  this
• 7:19
  week,
• 7:19
  with
• 7:20
  an
• 7:20
  internal
• 7:20
  company
• 7:21
  newsletter
• 7:21
  confirming
• 7:22
  the
• 7:22
  shutdown.
• 7:23
  The
• 7:23
  tool
• 7:23
  provided
• 7:24
  by
• 7:24
  Nomad
• 7:24
  Go
• 7:24
  was
• 7:25
  deployed
• 7:25
  in
• 7:25
  September
• 7:26
  2025
• 7:26
  across
• 7:28
  more
• 7:28
  than
• 7:28
  11,000
• 7:29
  North
• 7:30
  American
• 7:30
  locations
• 7:31
  as
• 7:31
  part
• 7:31
  of
• 7:32
  CEO
• 7:32
  Brian
• 7:32
  Nichols
• 7:33
  back
• 7:33
  to
• 7:33
  Starbucks
• 7:34
  turnaround
• 7:34
  strategy.
• 7:35
  Nomad
• 7:36
  Go
• 7:36
  had
• 7:36
  claimed
• 7:36
  the
• 7:36
  system
• 7:36
  could
• 7:37
  count
• 7:37
  inventory
• 7:37
  up
• 7:37
  to
• 7:38
  eight
• 7:38
  times
• 7:38
  faster
• 7:38
  than
• 7:39
  manual
• 7:39
  efforts
• 7:39
  and
• 7:40
  with
• 7:40
  99%
• 7:41
  accuracy.
• 7:42
  In
• 7:42
  a
• 7:42
  slight
• 7:42
  bit
• 7:43
  of
• 7:43
  irony
• 7:43
  too,
• 7:43
  Laura
• 7:44
  Starbucks
• 7:44
  had
• 7:44
  previously
• 7:45
  told
• 7:45
  Reuters
• 7:46
  as
• 7:46
  recently
• 7:46
  as
• 7:47
  February,
• 7:48
  so
• 7:48
  just
• 7:48
  three
• 7:49
  months
• 7:49
  ago
• 7:49
  that
• 7:50
  the
• 7:50
  adoption
• 7:50
  of
• 7:50
  the
• 7:50
  tool
• 7:50
  had
• 7:51
  improved
• 7:51
  product
• 7:51
  availability
• 7:52
  in
• 7:52
  stores.
• 7:53
  The
• 7:54
  company
• 7:54
  has
• 7:54
  since
• 7:54
  deleted
• 7:55
  the
• 7:55
  original
• 7:55
  September
• 7:56
  2025
• 7:57
  blog
• 7:57
  post
• 7:58
  announcing
• 7:58
  the
• 7:58
  rollout.
• 7:59
  Laura
• 8:00
  Starbucks
• 8:00
  just
• 8:00
  pulled
• 8:01
  the
• 8:01
  plug
• 8:01
  on
• 8:01
  an
• 8:01
  AI
• 8:02
  inventory.
• 8:02
  That
• 8:02
  tool
• 8:02
  that
• 8:03
  couldn't
• 8:03
  count.
• 8:03
  Milk.
• 8:04
  What
• 8:04
  does
• 8:05
  the
• 8:05
  story
• 8:05
  tell
• 8:05
  us
• 8:05
  about
• 8:06
  the
• 8:06
  state
• 8:06
  of
• 8:06
  AI
• 8:07
  deployment
• 8:07
  in
• 8:07
  retail
• 8:08
  operations
• 8:08
  right
• 8:08
  now?
• 8:09
  And
• 8:09
  do
• 8:09
  you
• 8:09
  think
• 8:09
  this
• 8:10
  is
• 8:10
  a
• 8:10
  one
• 8:10
  off
• 8:10
  stumble
• 8:11
  or
• 8:11
  a
• 8:11
  warning
• 8:12
  sign
• 8:12
  for
• 8:12
  the
• 8:12
  industry?
• 8:14
  I
• 8:14
  think,
• 8:14
  you
• 8:14
  know,
• 8:14
  the
• 8:15
  simple
• 8:15
  answer
• 8:15
  is
• 8:15
  I
• 8:15
  think
• 8:15
  it's
• 8:16
  a
• 8:16
  stumble.
• 8:17
  But
• 8:17
  with,
• 8:18
  with
• 8:18
  any
• 8:18
  activity
• 8:19
  in
• 8:19
  this
• 8:20
  space,
• 8:20
  it's
• 8:20
  always
• 8:21
  going
• 8:21
  to
• 8:21
  give
• 8:21
  us
• 8:21
  a
• 8:21
  useful
• 8:22
  data
• 8:22
  point
• 8:23
  of
• 8:23
  some
• 8:23
  kind
• 8:24
  of
• 8:25
  just
• 8:25
  in
• 8:25
  case
• 8:25
  people
• 8:26
  don't
• 8:26
  know.
• 8:26
  Nomad
• 8:27
  Goes
• 8:27
  technology
• 8:28
  that
• 8:28
  it
• 8:29
  uses
• 8:29
  devices
• 8:30
  with
• 8:30
  spatial
• 8:31
  vision,
• 8:31
  a
• 8:31
  form
• 8:32
  of
• 8:32
  computer
• 8:32
  vision,
• 8:33
  just
• 8:33
  to
• 8:34
  count
• 8:34
  what's
• 8:34
  on
• 8:34
  a
• 8:34
  shelf
• 8:35
  and
• 8:35
  see
• 8:35
  what's
• 8:35
  missing.
• 8:36
  And
• 8:37
  an
• 8:37
  associate
• 8:38
  does
• 8:38
  interact
• 8:38
  with
• 8:39
  the
• 8:39
  device.
• 8:39
  It's
• 8:40
  not,
• 8:40
  you
• 8:40
  know,
• 8:40
  a
• 8:40
  fixed
• 8:41
  camera
• 8:41
  like
• 8:41
  so
• 8:41
  much
• 8:42
  of
• 8:42
  what
• 8:42
  we
• 8:42
  know
• 8:42
  with
• 8:43
  computer
• 8:43
  vision
• 8:43
  for
• 8:44
  inventory.
• 8:45
  And
• 8:45
  the
• 8:46
  part
• 8:46
  about
• 8:46
  a
• 8:46
  human
• 8:47
  being
• 8:47
  involved
• 8:47
  is
• 8:48
  probably
• 8:49
  the
• 8:49
  main
• 8:49
  issue
• 8:49
  and
• 8:50
  just
• 8:51
  highlights
• 8:51
  the
• 8:51
  variability
• 8:53
  in
• 8:53
  challenge
• 8:53
  and
• 8:54
  how
• 8:54
  all
• 8:54
  of
• 8:54
  these
• 8:54
  tools
• 8:55
  work.
• 8:56
  You
• 8:56
  know,
• 8:57
  I
• 8:57
  feel
• 8:57
  like
• 8:57
  every
• 8:58
  example
• 8:59
  of
• 8:59
  AI
• 9:00
  inventory
• 9:00
  tracking,
• 9:01
  often
• 9:01
  computer
• 9:02
  vision
• 9:02
  and
• 9:03
  the
• 9:03
  use
• 9:03
  of
• 9:03
  it
• 9:03
  as
• 9:03
  Shelt
• 9:04
  has
• 9:04
  taught
• 9:04
  us
• 9:04
  that
• 9:05
  there
• 9:05
  are
• 9:05
  very
• 9:05
  specific
• 9:06
  and
• 9:06
  narrow
• 9:07
  circumstances
• 9:08
  where
• 9:08
  it
• 9:08
  does
• 9:09
  work.
• 9:09
  You,
• 9:10
  you
• 9:10
  need
• 9:10
  things
• 9:10
  to
• 9:11
  be
• 9:11
  very
• 9:11
  predictable
• 9:11
  as
• 9:12
  the
• 9:12
  oversimplified
• 9:13
  version
• 9:13
  of
• 9:13
  it.
• 9:14
  And
• 9:15
  a
• 9:15
  restaurant
• 9:16
  and
• 9:16
  a
• 9:16
  business
• 9:16
  like
• 9:16
  Starbucks
• 9:17
  is
• 9:17
  not
• 9:18
  predictable.
• 9:19
  It's
• 9:19
  very
• 9:19
  high
• 9:20
  turn.
• 9:21
  There's
• 9:21
  seasonal
• 9:22
  drinks
• 9:22
  coming
• 9:22
  in,
• 9:23
  you
• 9:24
  know,
• 9:24
  in
• 9:24
  the
• 9:24
  tools
• 9:25
  defense,
• 9:25
  all
• 9:26
  milk,
• 9:26
  whether
• 9:27
  it's
• 9:27
  a
• 9:27
  milk
• 9:27
  product
• 9:28
  or
• 9:28
  dairy
• 9:29
  milk
• 9:29
  looks
• 9:30
  the
• 9:30
  same.
• 9:31
  And
• 9:32
  so
• 9:32
  then
• 9:32
  you
• 9:32
  mentioned
• 9:32
  11,000
• 9:33
  locations
• 9:34
  that
• 9:35
  multiply
• 9:35
  that
• 9:35
  by
• 9:35
  number
• 9:36
  of
• 9:36
  associates
• 9:37
  and
• 9:38
  then
• 9:38
  you've
• 9:38
  got
• 9:39
  an
• 9:39
  associate
• 9:39
  who
• 9:39
  is
• 9:40
  looking
• 9:40
  at
• 9:41
  the
• 9:41
  screen
• 9:41
  based
• 9:42
  on
• 9:42
  Nomad,
• 9:42
  goes
• 9:43
  on
• 9:43
  videos
• 9:43
  and
• 9:44
  you
• 9:44
  know,
• 9:44
  kind
• 9:44
  of
• 9:44
  checking
• 9:45
  it.
• 9:45
  And
• 9:45
  so
• 9:46
  the
• 9:47
  tough
• 9:47
  thing
• 9:47
  for
• 9:47
  Nomad
• 9:48
  is
• 9:48
  that
• 9:49
  restaurants
• 9:49
  and
• 9:49
  food
• 9:50
  service
• 9:50
  are
• 9:50
  listed
• 9:51
  as
• 9:51
  its
• 9:51
  top
• 9:51
  capabilities.
• 9:52
  And
• 9:52
  so
• 9:53
  that's
• 9:54
  unfortunate
• 9:54
  for
• 9:54
  them,
• 9:55
  you
• 9:55
  know,
• 9:55
  if
• 9:55
  it
• 9:55
  was
• 9:55
  further
• 9:56
  down
• 9:56
  their
• 9:56
  list
• 9:57
  of
• 9:57
  capabilities,
• 9:58
  that
• 9:58
  might
• 9:58
  be
• 9:59
  better.
• 10:00
  But
• 10:01
  yeah,
• 10:02
  I
• 10:02
  would
• 10:02
  also
• 10:03
  have
• 10:03
  to
• 10:03
  imagine,
• 10:04
  you
• 10:04
  know,
• 10:04
  that
• 10:05
  I
• 10:05
  would
• 10:05
  have
• 10:06
  thought
• 10:06
  that
• 10:06
  there'd
• 10:06
  be
• 10:06
  someone
• 10:07
  who'd
• 10:07
  recognize
• 10:07
  some
• 10:07
  of
• 10:08
  these
• 10:08
  errors.
• 10:08
  And
• 10:08
  so
• 10:08
  it
• 10:08
  really
• 10:09
  shows
• 10:09
  you
• 10:09
  how
• 10:11
  when
• 10:11
  you
• 10:11
  get
• 10:11
  these
• 10:12
  tools
• 10:12
  into
• 10:13
  a
• 10:13
  store
• 10:13
  and
• 10:14
  into
• 10:14
  operation,
• 10:14
  store,
• 10:15
  restaurant,
• 10:15
  what
• 10:16
  have
• 10:16
  you,
• 10:17
  you're
• 10:17
  relying
• 10:17
  on.
• 10:18
  On
• 10:18
  so
• 10:18
  many
• 10:19
  different
• 10:19
  factors
• 10:20
  that
• 10:20
  you
• 10:20
  can
• 10:20
  control
• 10:21
  for
• 10:21
  when
• 10:21
  you're
• 10:21
  testing
• 10:22
  them.
• 10:23
  The.
• 10:24
  The
• 10:24
  other
• 10:24
  thing
• 10:24
  that
• 10:24
  I
• 10:24
  do
• 10:25
  think
• 10:25
  is
• 10:25
  important
• 10:25
  to
• 10:25
  note
• 10:25
  is
• 10:26
  that
• 10:26
  this
• 10:27
  is
• 10:27
  a
• 10:27
  type
• 10:27
  of
• 10:27
  AI
• 10:28
  solution
• 10:28
  that
• 10:28
  has
• 10:28
  existed
• 10:29
  much
• 10:29
  longer
• 10:29
  than
• 10:30
  what
• 10:30
  we
• 10:30
  think
• 10:30
  of
• 10:31
  in
• 10:31
  2026
• 10:32
  as
• 10:32
  AI
• 10:32
  deployment
• 10:33
  and
• 10:33
  retail
• 10:34
  operations.
• 10:35
  Definitively.
• 10:36
  Yeah.
• 10:37
  And
• 10:37
  so,
• 10:38
  you
• 10:38
  know,
• 10:38
  maybe
• 10:39
  this
• 10:39
  just
• 10:39
  reminds
• 10:40
  us
• 10:40
  of
• 10:40
  how
• 10:40
  much
• 10:41
  refinement
• 10:41
  there's
• 10:41
  going
• 10:41
  to
• 10:42
  be
• 10:42
  for
• 10:42
  every
• 10:42
  type
• 10:43
  of
• 10:43
  AI
• 10:44
  in
• 10:44
  retail
• 10:44
  that
• 10:45
  we
• 10:46
  think
• 10:46
  of
• 10:46
  going
• 10:47
  into
• 10:47
  the
• 10:47
  next
• 10:49
  decade.
• 10:49
  Who
• 10:50
  knows?
• 10:52
  Going
• 10:52
  back
• 10:52
  to
• 10:52
  what
• 10:52
  I
• 10:52
  heard
• 10:53
  at
• 10:53
  the
• 10:53
  lead,
• 10:53
  though,
• 10:53
  was
• 10:54
  a
• 10:54
  lot
• 10:54
  of
• 10:54
  enthusiasm
• 10:55
  for
• 10:55
  test
• 10:55
  and
• 10:55
  learn
• 10:56
  culture
• 10:57
  being
• 10:58
  first
• 10:58
  instead
• 10:59
  of
• 10:59
  just
• 10:59
  a
• 10:59
  fast
• 10:59
  follower
• 11:00
  and
• 11:00
  then
• 11:01
  iterating
• 11:01
  fast
• 11:01
  from
• 11:02
  there.
• 11:02
  And
• 11:02
  so
• 11:03
  you
• 11:04
  hope
• 11:04
  that
• 11:04
  Nomad
• 11:05
  learns.
• 11:06
  Starbucks
• 11:06
  has
• 11:06
  shown
• 11:07
  an
• 11:07
  affinity
• 11:07
  for
• 11:07
  that.
• 11:08
  And
• 11:08
  so
• 11:08
  I
• 11:08
  don't
• 11:08
  think
• 11:08
  we
• 11:09
  have
• 11:09
  to
• 11:09
  be
• 11:09
  worried
• 11:09
  about
• 11:10
  Starbucks
• 11:10
  on
• 11:10
  that
• 11:11
  front
• 11:11
  so
• 11:11
  specifically.
• 11:13
  So,
• 11:13
  yeah,
• 11:14
  that's
• 11:14
  my
• 11:14
  take.
• 11:14
  I
• 11:14
  think
• 11:14
  there's
• 11:15
  a
• 11:15
  lot
• 11:15
  to
• 11:15
  learn
• 11:15
  from
• 11:16
  it.
• 11:17
  Yeah,
• 11:17
  I
• 11:17
  think.
• 11:17
  I
• 11:17
  think
• 11:18
  100%.
• 11:19
  I
• 11:19
  think
• 11:19
  it's
• 11:19
  definitively
• 11:20
  a
• 11:20
  stumble.
• 11:21
  You
• 11:21
  know,
• 11:21
  I
• 11:21
  think
• 11:21
  the
• 11:21
  interesting
• 11:22
  part
• 11:22
  about
• 11:22
  this,
• 11:22
  I
• 11:22
  think
• 11:22
  there's
• 11:23
  two
• 11:23
  things
• 11:23
  I'd
• 11:23
  say
• 11:23
  off
• 11:23
  what
• 11:24
  you
• 11:24
  said.
• 11:24
  I
• 11:24
  think
• 11:24
  one
• 11:24
  is,
• 11:25
  one
• 11:25
  is
• 11:25
  the
• 11:25
  interesting
• 11:26
  point
• 11:26
  is
• 11:26
  the
• 11:26
  egg
• 11:26
  on
• 11:26
  the
• 11:26
  face.
• 11:27
  Like,
• 11:27
  when
• 11:27
  you're
• 11:27
  talking
• 11:27
  about
• 11:27
  this
• 11:28
  being
• 11:28
  like
• 11:28
  a
• 11:28
  significant
• 11:29
  part
• 11:29
  of
• 11:29
  your
• 11:29
  operational
• 11:30
  improvements
• 11:30
  in
• 11:30
  February,
• 11:31
  it's
• 11:31
  kind
• 11:31
  of
• 11:32
  like,
• 11:32
  oh,
• 11:32
  you
• 11:32
  got
• 11:32
  to
• 11:32
  make
• 11:33
  an
• 11:33
  about
• 11:33
  face
• 11:33
  on
• 11:33
  that.
• 11:33
  And
• 11:33
  that's
• 11:34
  not
• 11:34
  good
• 11:34
  for
• 11:34
  Starbucks.
• 11:34
  It's
• 11:35
  definitely
• 11:35
  not
• 11:35
  good
• 11:35
  for
• 11:35
  Nomad.
• 11:36
  Go
• 11:36
  for
• 11:36
  the
• 11:36
  reasons
• 11:37
  you
• 11:37
  said,
• 11:37
  too.
• 11:39
  And
• 11:39
  so,
• 11:40
  you
• 11:40
  know,
• 11:40
  I
• 11:40
  think
• 11:40
  that
• 11:40
  tells
• 11:41
  me,
• 11:41
  too,
• 11:41
  you
• 11:41
  can't
• 11:41
  always
• 11:41
  buy
• 11:42
  into
• 11:42
  the
• 11:42
  hype
• 11:42
  cycle.
• 11:43
  You
• 11:43
  got
• 11:43
  to
• 11:43
  give
• 11:43
  it
• 11:43
  time.
• 11:44
  And
• 11:44
  to
• 11:45
  do
• 11:45
  this
• 11:45
  effectively,
• 11:46
  my
• 11:46
  first
• 11:47
  takeaway
• 11:47
  is.
• 11:48
  My
• 11:48
  first
• 11:48
  takeaway
• 11:49
  is
• 11:49
  you
• 11:49
  have
• 11:49
  to
• 11:50
  have
• 11:50
  continuous
• 11:50
  learning.
• 11:51
  It's
• 11:51
  not
• 11:51
  just
• 11:51
  jumping
• 11:52
  be
• 11:53
  first
• 11:53
  to
• 11:53
  try
• 11:54
  new
• 11:54
  technology
• 11:54
  or
• 11:54
  experiment,
• 11:55
  but
• 11:55
  you
• 11:55
  have
• 11:55
  to
• 11:55
  be
• 11:56
  continuously
• 11:56
  learning
• 11:57
  and
• 11:57
  basically
• 11:57
  coming
• 11:58
  at
• 11:58
  it
• 11:58
  with
• 11:58
  the
• 11:58
  mindset
• 11:59
  of
• 11:59
  you're
• 11:59
  never
• 11:59
  going
• 12:00
  to
• 12:00
  get
• 12:00
  this
• 12:00
  right.
• 12:00
  And
• 12:01
  so
• 12:01
  you
• 12:01
  almost
• 12:01
  don't
• 12:02
  even
• 12:02
  want
• 12:02
  to
• 12:02
  talk
• 12:02
  about
• 12:03
  these
• 12:03
  things
• 12:03
  publicly
• 12:03
  because
• 12:04
  you're
• 12:04
  kind
• 12:04
  of
• 12:04
  setting
• 12:04
  yourself
• 12:05
  up
• 12:05
  for
• 12:05
  failure
• 12:06
  when
• 12:06
  you
• 12:06
  start
• 12:06
  to
• 12:07
  do
• 12:07
  that,
• 12:07
  especially
• 12:07
  when
• 12:08
  they're
• 12:08
  just
• 12:08
  at
• 12:08
  their
• 12:08
  early
• 12:08
  stages
• 12:09
  of
• 12:09
  implementation.
• 12:10
  The
• 12:10
  other
• 12:10
  part,
• 12:10
  the
• 12:11
  word
• 12:11
  you
• 12:11
  said
• 12:11
  predictability,
• 12:12
  Laura.
• 12:13
  For
• 12:13
  me,
• 12:13
  the
• 12:13
  reason
• 12:13
  I
• 12:14
  think
• 12:14
  that's
• 12:14
  the
• 12:14
  number
• 12:15
  one
• 12:15
  reason
• 12:15
  it's
• 12:15
  a
• 12:15
  stumble
• 12:16
  is
• 12:16
  it's
• 12:17
  predictability.
• 12:17
  But
• 12:17
  it
• 12:17
  comes
• 12:17
  down
• 12:18
  to
• 12:18
  also
• 12:18
  the
• 12:18
  predictability
• 12:19
  angle,
• 12:19
  I
• 12:19
  would
• 12:19
  say
• 12:19
  too
• 12:20
  is
• 12:20
  it
• 12:20
  comes
• 12:20
  down
• 12:20
  to
• 12:20
  the
• 12:20
  predictability
• 12:21
  of
• 12:21
  who's
• 12:22
  using
• 12:22
  the
• 12:22
  technology
• 12:23
  when
• 12:24
  your
• 12:24
  technology
• 12:24
  requires
• 12:25
  an
• 12:25
  employee
• 12:26
  to
• 12:26
  use
• 12:26
  it.
• 12:27
  With
• 12:28
  the
• 12:28
  turnover
• 12:28
  in
• 12:29
  the
• 12:29
  retail
• 12:29
  industry,
• 12:30
  that
• 12:31
  just
• 12:31
  is
• 12:31
  a
• 12:31
  massive
• 12:32
  issue.
• 12:32
  And
• 12:32
  so
• 12:33
  whenever
• 12:34
  that
• 12:34
  fact
• 12:35
  is
• 12:35
  in
• 12:35
  play,
• 12:36
  it's
• 12:36
  hard
• 12:36
  to
• 12:36
  deploy
• 12:37
  a
• 12:37
  system
• 12:37
  that
• 12:38
  works
• 12:38
  consistently
• 12:38
  the
• 12:39
  same
• 12:39
  way
• 12:39
  every
• 12:39
  time.
• 12:40
  And
• 12:40
  that's
• 12:40
  where
• 12:41
  automation
• 12:41
  works
• 12:42
  best.
• 12:42
  Whether
• 12:42
  it's
• 12:42
  AI,
• 12:43
  computer
• 12:44
  vision,
• 12:44
  whatever,
• 12:44
  you
• 12:45
  want
• 12:45
  to
• 12:45
  be
• 12:45
  doing
• 12:45
  the
• 12:45
  same
• 12:46
  thing
• 12:46
  the
• 12:46
  same
• 12:46
  way
• 12:47
  every
• 12:47
  time.
• 12:48
  That's
• 12:48
  why
• 12:48
  things
• 12:49
  like
• 12:49
  robotics,
• 12:50
  fixed
• 12:50
  position
• 12:50
  cameras
• 12:51
  like
• 12:51
  you
• 12:51
  mentioned,
• 12:51
  or
• 12:52
  robotics
• 12:52
  that
• 12:53
  always
• 12:53
  do
• 12:53
  it
• 12:53
  the
• 12:53
  same
• 12:54
  way
• 12:54
  because
• 12:54
  it's
• 12:54
  a
• 12:55
  fricking
• 12:56
  robot,
• 12:56
  not
• 12:56
  a
• 12:56
  person
• 12:57
  you
• 12:57
  have
• 12:57
  to
• 12:58
  train
• 12:58
  each
• 12:59
  time
• 12:59
  or,
• 12:59
  or
• 12:59
  even
• 12:59
  overhead
• 13:00
  rfid,
• 13:01
  which
• 13:01
  we're
• 13:01
  gonna
• 13:01
  talk
• 13:02
  about
• 13:02
  as
• 13:03
  well.
• 13:03
  So
• 13:03
  like
• 13:04
  that's
• 13:05
  the,
• 13:05
  those
• 13:05
  are
• 13:06
  where
• 13:06
  I
• 13:06
  see
• 13:06
  things
• 13:06
  going
• 13:07
  in
• 13:07
  the
• 13:07
  long
• 13:07
  run.
• 13:08
  And
• 13:08
  that's
• 13:08
  why
• 13:08
  I
• 13:08
  think
• 13:09
  this
• 13:09
  is,
• 13:09
  it's
• 13:10
  a
• 13:10
  much
• 13:10
  harder
• 13:10
  technology
• 13:11
  to
• 13:11
  implement
• 13:11
  than
• 13:12
  people
• 13:12
  think.
• 13:12
  Even
• 13:13
  though
• 13:13
  to
• 13:13
  your
• 13:13
  point,
• 13:14
  it's
• 13:14
  been
• 13:15
  around
• 13:15
  for
• 13:15
  a
• 13:15
  really
• 13:16
  long
• 13:16
  time.
• 13:16
  Like
• 13:17
  self
• 13:17
  scanning
• 13:18
  with
• 13:18
  a
• 13:18
  employee
• 13:19
  device
• 13:19
  or
• 13:19
  an
• 13:20
  iPad
• 13:20
  is
• 13:20
  not
• 13:20
  new,
• 13:21
  but
• 13:21
  it's
• 13:22
  really
• 13:22
  hard
• 13:22
  to
• 13:22
  do
• 13:22
  it
• 13:22
  well,
• 13:23
  for
• 13:23
  the
• 13:23
  reasons
• 13:23
  we
• 13:23
  said.
• 13:24
  Yeah,
• 13:24
  I
• 13:24
  mean,
• 13:24
  and
• 13:25
  I
• 13:25
  think
• 13:25
  from
• 13:25
  the
• 13:25
  tech
• 13:25
  company
• 13:26
  perspective,
• 13:26
  maybe
• 13:27
  that
• 13:28
  it
• 13:28
  elevates
• 13:29
  the
• 13:29
  need
• 13:30
  to
• 13:31
  emphasize
• 13:32
  employee
• 13:32
  training
• 13:32
  as
• 13:33
  part
• 13:33
  of
• 13:33
  the
• 13:33
  solution.
• 13:34
  Like,
• 13:34
  we're
• 13:35
  going
• 13:35
  to
• 13:35
  help,
• 13:35
  this
• 13:36
  is
• 13:36
  how
• 13:36
  we're
• 13:36
  going
• 13:36
  to
• 13:36
  help
• 13:36
  your
• 13:37
  employees
• 13:37
  learn.
• 13:37
  Because
• 13:37
  like
• 13:38
  you
• 13:38
  said,
• 13:38
  they
• 13:38
  have
• 13:38
  to,
• 13:39
  they
• 13:39
  have
• 13:40
  to
• 13:40
  train
• 13:40
  people
• 13:40
  quickly
• 13:41
  and,
• 13:42
  you
• 13:42
  know,
• 13:42
  a
• 13:42
  new
• 13:42
  person
• 13:43
  every
• 13:43
  day.
• 13:44
  And
• 13:44
  if
• 13:45
  that's
• 13:45
  going
• 13:45
  to
• 13:45
  be
• 13:45
  a
• 13:45
  huge
• 13:46
  part
• 13:46
  of
• 13:46
  it,
• 13:46
  and
• 13:46
  if
• 13:46
  you're
• 13:47
  going
• 13:47
  to
• 13:47
  promise
• 13:47
  that
• 13:47
  the
• 13:47
  human
• 13:48
  in
• 13:48
  the
• 13:48
  loop
• 13:48
  is
• 13:48
  a
• 13:49
  big
• 13:49
  part
• 13:49
  of
• 13:49
  the
• 13:49
  solution,
• 13:50
  then
• 13:51
  maybe
• 13:52
  employee
• 13:53
  training
• 13:53
  needs
• 13:53
  to
• 13:54
  be
• 13:54
  a
• 13:54
  higher
• 13:54
  priority.
• 13:55
  Yeah,
• 13:56
  and
• 13:56
  when
• 13:56
  I,
• 13:56
  and
• 13:56
  when
• 13:57
  I
• 13:57
  hear
• 13:57
  you
• 13:57
  say
• 13:57
  that,
• 13:57
  I'm
• 13:58
  already
• 13:58
  like,
• 13:58
  yeah,
• 13:59
  not
• 13:59
  for
• 13:59
  me,
• 13:59
  like
• 14:00
  as
• 14:00
  a
• 14:00
  former
• 14:00
  executive,
• 14:01
  I'm
• 14:01
  like,
• 14:01
  not,
• 14:01
  not
• 14:01
  for
• 14:02
  me.
• 14:02
  Then
• 14:02
  there,
• 14:02
  there's.
• 14:03
  We're
• 14:03
  going
• 14:03
  to
• 14:03
  look
• 14:03
  for
• 14:03
  a
• 14:03
  different
• 14:04
  answer
• 14:04
  that
• 14:05
  provides
• 14:05
  an
• 14:06
  easier
• 14:06
  path
• 14:06
  to
• 14:07
  what
• 14:07
  we're
• 14:07
  trying
• 14:07
  to
• 14:07
  accomplish
• 14:08
  or
• 14:08
  what
• 14:08
  our
• 14:08
  objective
• 14:09
  is.
• 14:09
  That's
• 14:09
  how
• 14:09
  I
• 14:09
  think
• 14:09
  about
• 14:09
  what
• 14:09
  you
• 14:10
  just
• 14:10
  said,
• 14:10
  Laura.
• 14:11
  Yeah.
• 14:11
  Yeah,
• 14:11
  more
• 14:12
  automation
• 14:13
  makes
• 14:13
  sense.
• 14:13
  All
• 14:14
  right,
• 14:14
  shall
• 14:14
  we
• 14:14
  move
• 14:14
  on
• 14:14
  to
• 14:15
  number
• 14:15
  two
• 14:15
  and
• 14:16
  more
• 14:16
  inventory
• 14:17
  talk?
• 14:18
  This
• 14:18
  headline
• 14:19
  is
• 14:19
  brought
• 14:19
  to
• 14:19
  you
• 14:19
  by
• 14:19
  Miracle,
• 14:20
  the
• 14:20
  catalyst
• 14:21
  of
• 14:21
  Commerce.
• 14:22
  Over
• 14:22
  450
• 14:23
  retailers
• 14:23
  are
• 14:24
  opening
• 14:24
  new
• 14:24
  revenue
• 14:25
  streams
• 14:25
  with
• 14:25
  marketplaces,
• 14:26
  dropship
• 14:27
  and
• 14:27
  retail
• 14:27
  media.
• 14:28
  And
• 14:28
  succeeding
• 14:29
  with
• 14:29
  Miracle,
• 14:30
  you
• 14:30
  can
• 14:30
  unlock
• 14:31
  more
• 14:31
  products,
• 14:31
  more
• 14:32
  partners
• 14:32
  and
• 14:32
  more
• 14:33
  profits
• 14:33
  without
• 14:34
  the
• 14:34
  heavy
• 14:34
  lifting.
• 14:35
  So
• 14:35
  what's
• 14:36
  holding
• 14:36
  you
• 14:36
  back?
• 14:36
  Visit
• 14:37
  miracle.com
• 14:38
  to
• 14:38
  learn
• 14:38
  more.
• 14:40
  All
• 14:40
  right,
• 14:40
  so
• 14:40
  our
• 14:40
  second
• 14:41
  headline,
• 14:42
  excuse
• 14:43
  me,
• 14:43
  getting
• 14:43
  over
• 14:44
  my
• 14:44
  spring
• 14:45
  cold
• 14:45
  here.
• 14:46
  Radar,
• 14:47
  a
• 14:47
  retail
• 14:47
  inventory
• 14:48
  intelligence
• 14:48
  startup
• 14:49
  backed
• 14:49
  by
• 14:50
  American
• 14:50
  Eagle
• 14:50
  CEO
• 14:51
  Jay
• 14:51
  Shot
• 14:52
  and
• 14:53
  has
• 14:53
  reached
• 14:53
  unicorn
• 14:54
  status
• 14:54
  after
• 14:54
  raising
• 14:55
  $170
• 14:56
  million
• 14:57
  in
• 14:57
  a
• 14:57
  series
• 14:57
  B
• 14:58
  funding
• 14:58
  round
• 14:59
  at
• 14:59
  a
• 14:59
  valuation
• 14:59
  of
• 15:00
  over
• 15:00
  $1
• 15:01
  billion,
• 15:02
  according
• 15:02
  to
• 15:02
  CNBC.
• 15:03
  Radar
• 15:04
  was
• 15:04
  founded
• 15:04
  in
• 15:05
  2013
• 15:05
  by
• 15:05
  Spencer
• 15:06
  Hewitt,
• 15:06
  a
• 15:07
  former
• 15:07
  Peter
• 15:07
  Thiel
• 15:09
  Fellowship
• 15:09
  recipient
• 15:10
  who
• 15:10
  originally
• 15:11
  set
• 15:11
  out
• 15:11
  to
• 15:11
  build
• 15:12
  a
• 15:12
  better
• 15:12
  instant
• 15:12
  checkout
• 15:13
  solution
• 15:13
  before
• 15:14
  pivoting
• 15:14
  to
• 15:14
  inventory
• 15:15
  management.
• 15:16
  Radar's
• 15:16
  platform
• 15:17
  uses
• 15:18
  ceiling
• 15:18
  mounted
• 15:18
  hardware
• 15:19
  to
• 15:19
  read
• 15:19
  RFID
• 15:20
  tags
• 15:20
  across
• 15:20
  store
• 15:21
  interiors,
• 15:22
  achieving
• 15:22
  what
• 15:22
  the
• 15:23
  company
• 15:23
  claims
• 15:23
  is
• 15:23
  a
• 15:24
  99%
• 15:25
  item
• 15:25
  level
• 15:26
  accuracy
• 15:26
  rate.
• 15:27
  The
• 15:28
  data
• 15:28
  flows
• 15:28
  into
• 15:28
  a
• 15:29
  software
• 15:29
  layer
• 15:29
  that
• 15:29
  converts
• 15:30
  real
• 15:30
  time
• 15:30
  location
• 15:31
  signals
• 15:31
  into
• 15:32
  operational
• 15:32
  actions.
• 15:33
  Think
• 15:33
  automated
• 15:34
  replenishment
• 15:34
  alerts,
• 15:35
  omnichannel
• 15:36
  fulfillment
• 15:36
  routing,
• 15:37
  loss
• 15:37
  prevention
• 15:38
  triggers,
• 15:38
  and
• 15:39
  merchandising
• 15:39
  intelligence.
• 15:40
  American
• 15:41
  Eagle
• 15:41
  was
• 15:42
  the
• 15:42
  first
• 15:42
  retailer
• 15:42
  to
• 15:43
  deploy
• 15:43
  the
• 15:43
  technology,
• 15:44
  which
• 15:44
  fleet
• 15:44
  wide
• 15:44
  and
• 15:45
  Radar
• 15:45
  is
• 15:45
  now
• 15:46
  deployed
• 15:46
  across
• 15:46
  more
• 15:47
  than
• 15:47
  1,
• 15:48
  400
• 15:48
  stores,
• 15:49
  including
• 15:49
  old
• 15:50
  Navy
• 15:50
  locations.
• 15:52
  Chris,
• 15:52
  Starbucks
• 15:53
  just
• 15:53
  killed
• 15:54
  an
• 15:54
  AI
• 15:54
  inventory
• 15:54
  tool
• 15:55
  that
• 15:55
  didn't
• 15:55
  work.
• 15:56
  But
• 15:56
  Radar
• 15:57
  has
• 15:57
  just
• 15:57
  hit
• 15:57
  a
• 15:57
  $1
• 15:58
  billion
• 15:58
  valuation
• 16:00
  on
• 16:00
  the
• 16:00
  promise
• 16:00
  of
• 16:00
  doing
• 16:01
  inventory
• 16:01
  right.
• 16:02
  What
• 16:02
  does
• 16:02
  this
• 16:03
  company
• 16:03
  getting
• 16:03
  to
• 16:03
  unicorn
• 16:04
  status
• 16:04
  tell
• 16:05
  you
• 16:05
  about
• 16:05
  where
• 16:05
  the
• 16:06
  smart
• 16:06
  money
• 16:06
  thinks
• 16:07
  the
• 16:07
  real
• 16:07
  opportunity
• 16:08
  in
• 16:08
  physical
• 16:09
  retail
• 16:09
  AI
• 16:10
  actually
• 16:10
  is?
• 16:12
  Wow,
• 16:12
  that,
• 16:13
  that,
• 16:13
  that's
• 16:14
  a
• 16:14
  great
• 16:14
  question.
• 16:15
  And
• 16:15
  you
• 16:16
  know,
• 16:16
  I
• 16:16
  got
• 16:16
  first,
• 16:16
  I
• 16:16
  got
• 16:16
  to
• 16:17
  give
• 16:17
  major
• 16:17
  kudos
• 16:17
  to
• 16:17
  Radar
• 16:18
  for
• 16:18
  this
• 16:18
  announcement.
• 16:19
  And
• 16:19
  I
• 16:19
  am
• 16:19
  eating
• 16:20
  some
• 16:21
  serious
• 16:21
  crow
• 16:22
  on
• 16:22
  this
• 16:22
  announcement.
• 16:22
  I
• 16:23
  have
• 16:23
  followed,
• 16:23
  I
• 16:23
  followed
• 16:24
  RFID
• 16:24
  technology,
• 16:24
  particularly
• 16:25
  in
• 16:25
  apparel,
• 16:25
  since
• 16:26
  my
• 16:26
  store
• 16:26
  of
• 16:26
  the
• 16:26
  future
• 16:26
  days.
• 16:27
  And
• 16:27
  I
• 16:28
  said
• 16:28
  on
• 16:28
  this
• 16:28
  podcast
• 16:29
  when,
• 16:29
  when
• 16:29
  they
• 16:30
  made
• 16:30
  the
• 16:30
  Old
• 16:30
  Navy
• 16:31
  announcement,
• 16:31
  I
• 16:31
  said
• 16:31
  I
• 16:31
  was
• 16:32
  highly
• 16:32
  skeptical.
• 16:33
  We
• 16:33
  had
• 16:33
  Spencer
• 16:33
  Hewitt,
• 16:34
  the
• 16:34
  CEO,
• 16:34
  on
• 16:35
  and
• 16:35
  we
• 16:35
  basically
• 16:35
  made
• 16:36
  a
• 16:36
  bet.
• 16:36
  I
• 16:36
  was
• 16:36
  like,
• 16:36
  I
• 16:36
  told
• 16:36
  him
• 16:37
  to
• 16:37
  his
• 16:37
  face,
• 16:37
  I
• 16:37
  don't
• 16:37
  think
• 16:37
  we'll
• 16:38
  ever
• 16:38
  see
• 16:38
  you
• 16:38
  roll
• 16:38
  out
• 16:38
  to
• 16:38
  all
• 16:39
  Old
• 16:39
  Navy
• 16:39
  stores.
• 16:39
  And
• 16:39
  he's
• 16:40
  like,
• 16:40
  I'll
• 16:40
  bet
• 16:40
  you
• 16:40
  a
• 16:40
  beer.
• 16:40
  And,
• 16:41
  and
• 16:41
  to
• 16:42
  that
• 16:42
  point,
• 16:42
  I'm
• 16:43
  eating
• 16:43
  some
• 16:43
  serious
• 16:43
  crow.
• 16:44
  And
• 16:44
  for
• 16:45
  all
• 16:45
  you
• 16:45
  listeners,
• 16:45
  because
• 16:46
  of
• 16:46
  that,
• 16:47
  I've
• 16:47
  invited
• 16:47
  Spencer
• 16:48
  to
• 16:48
  join
• 16:48
  us
• 16:49
  next
• 16:49
  week
• 16:49
  for
• 16:49
  five
• 16:49
  insightful
• 16:50
  minutes.
• 16:50
  And
• 16:50
  he's
• 16:51
  going
• 16:51
  to
• 16:51
  appropriately
• 16:52
  put
• 16:52
  me
• 16:53
  in
• 16:53
  my
• 16:53
  place.
• 16:53
  And
• 16:54
  I
• 16:54
  think
• 16:54
  it's
• 16:54
  very
• 16:54
  well
• 16:54
  deserved.
• 16:55
  So
• 16:55
  kudos
• 16:55
  to
• 16:56
  him.
• 16:56
  But
• 16:57
  I
• 16:57
  think
• 16:57
  what
• 16:57
  we're
• 16:58
  getting
• 16:58
  at
• 16:58
  here,
• 16:58
  Laura,
• 16:59
  is
• 16:59
  what
• 16:59
  I
• 16:59
  alluded
• 16:59
  to
• 17:00
  in
• 17:00
  the
• 17:00
  first
• 17:00
  headline,
• 17:00
  retailers
• 17:01
  demand
• 17:02
  accuracy.
• 17:02
  And
• 17:03
  in
• 17:03
  the
• 17:03
  apparel
• 17:04
  setting,
• 17:05
  RFID
• 17:05
  we
• 17:06
  know
• 17:07
  can
• 17:07
  work.
• 17:08
  It
• 17:08
  can
• 17:08
  work.
• 17:09
  But
• 17:09
  it
• 17:09
  is
• 17:10
  about
• 17:10
  finding
• 17:10
  the
• 17:10
  right
• 17:11
  system
• 17:11
  for
• 17:11
  your
• 17:12
  operation
• 17:12
  that
• 17:12
  delivers
• 17:13
  on
• 17:13
  two
• 17:13
  things,
• 17:14
  consistent
• 17:14
  accuracy
• 17:15
  and
• 17:15
  also
• 17:16
  informative
• 17:17
  actions
• 17:17
  to
• 17:17
  take
• 17:18
  off
• 17:18
  of
• 17:18
  the
• 17:18
  data,
• 17:18
  which
• 17:19
  it
• 17:19
  sounds
• 17:19
  like
• 17:19
  Radar
• 17:20
  is
• 17:20
  moving
• 17:20
  in
• 17:21
  that
• 17:21
  direction.
• 17:21
  So
• 17:22
  to
• 17:22
  me,
• 17:22
  the
• 17:23
  key
• 17:23
  point
• 17:23
  here
• 17:23
  is
• 17:24
  the
• 17:24
  money
• 17:24
  flow.
• 17:25
  The
• 17:25
  money
• 17:25
  flow,
• 17:26
  the
• 17:26
  size
• 17:26
  of
• 17:26
  the
• 17:26
  investment
• 17:27
  is
• 17:27
  validation
• 17:28
  that
• 17:28
  RFID
• 17:29
  has
• 17:29
  finally,
• 17:30
  finally
• 17:30
  crossed
• 17:31
  the
• 17:31
  chasm
• 17:31
  of
• 17:32
  acceptance
• 17:33
  for
• 17:33
  the
• 17:33
  retailers
• 17:34
  that
• 17:34
  understand
• 17:34
  where
• 17:35
  the
• 17:35
  future
• 17:35
  is
• 17:35
  headed.
• 17:36
  But
• 17:36
  what
• 17:36
  do
• 17:36
  you
• 17:36
  think?
• 17:37
  Yeah,
• 17:37
  I
• 17:38
  mean,
• 17:38
  this
• 17:38
  is
• 17:38
  kind
• 17:38
  of
• 17:39
  the.
• 17:39
  I
• 17:39
  agree
• 17:40
  with
• 17:40
  you.
• 17:40
  This
• 17:40
  is
• 17:40
  the
• 17:41
  other
• 17:41
  side
• 17:41
  of
• 17:41
  the
• 17:41
  coin
• 17:42
  from
• 17:42
  the
• 17:42
  Starbucks
• 17:43
  example
• 17:43
  where
• 17:44
  it
• 17:45
  shows
• 17:45
  how
• 17:45
  important
• 17:46
  categories
• 17:47
  and
• 17:48
  the
• 17:48
  match
• 17:49
  of
• 17:49
  a
• 17:49
  category
• 17:49
  and
• 17:50
  a
• 17:50
  solution
• 17:51
  is
• 17:51
  to
• 17:52
  it
• 17:52
  actually
• 17:52
  working.
• 17:53
  You
• 17:54
  know,
• 17:54
  from
• 17:54
  my
• 17:54
  discussions
• 17:55
  with
• 17:55
  people
• 17:56
  in
• 17:56
  this
• 17:56
  space,
• 17:57
  even
• 17:57
  health
• 17:57
  and
• 17:58
  beauty
• 17:58
  is
• 17:58
  stuff,
• 17:58
  because
• 17:59
  you'd
• 17:59
  think,
• 17:59
  yeah,
• 18:00
  it's
• 18:00
  square,
• 18:00
  you
• 18:01
  know,
• 18:01
  they're
• 18:01
  often
• 18:01
  boxes,
• 18:02
  but
• 18:02
  RFID
• 18:03
  needs
• 18:04
  to
• 18:04
  be
• 18:04
  attached
• 18:05
  further
• 18:05
  back
• 18:06
  in
• 18:06
  the
• 18:06
  manufacturing
• 18:07
  process
• 18:07
  and
• 18:07
  that
• 18:08
  doesn't
• 18:08
  happen
• 18:08
  in
• 18:08
  health
• 18:08
  and
• 18:09
  beauty.
• 18:09
  And
• 18:09
  so
• 18:10
  there's
• 18:10
  a
• 18:10
  lot
• 18:10
  of
• 18:10
  complexity
• 18:12
  that
• 18:12
  that
• 18:12
  is
• 18:12
  sounds
• 18:13
  makes
• 18:13
  it
• 18:14
  a
• 18:14
  lot
• 18:14
  more
• 18:15
  interesting
• 18:16
  than
• 18:16
  you
• 18:16
  would
• 18:16
  think.
• 18:16
  Just,
• 18:16
  you
• 18:17
  know,
• 18:17
  sort
• 18:17
  of
• 18:17
  slapping
• 18:17
  a
• 18:18
  tag
• 18:18
  on
• 18:18
  something.
• 18:19
  You
• 18:19
  know,
• 18:19
  obviously
• 18:20
  the
• 18:20
  vertical
• 18:21
  nature
• 18:21
  of
• 18:21
  these
• 18:22
  particular
• 18:22
  retailers
• 18:23
  also
• 18:23
  matters
• 18:24
  a
• 18:24
  lot.
• 18:25
  Know,
• 18:25
  it's
• 18:26
  still
• 18:26
  fairly
• 18:26
  remarkable
• 18:27
  given
• 18:27
  the
• 18:27
  number
• 18:27
  of
• 18:27
  SKUs
• 18:28
  that
• 18:28
  go
• 18:28
  through
• 18:28
  an
• 18:28
  Old
• 18:28
  Navy
• 18:29
  store.
• 18:29
  American
• 18:30
  Eagle
• 18:31
  too,
• 18:31
  but
• 18:31
  Old
• 18:31
  Navy
• 18:32
  especially.
• 18:34
  But
• 18:34
  you
• 18:34
  know,
• 18:34
  I
• 18:34
  think
• 18:35
  like
• 18:35
  you
• 18:35
  said,
• 18:35
  it
• 18:36
  always
• 18:36
  just
• 18:36
  raises
• 18:37
  to
• 18:37
  me,
• 18:37
  so
• 18:37
  where
• 18:37
  is
• 18:37
  this
• 18:38
  going
• 18:38
  next?
• 18:38
  You
• 18:38
  know,
• 18:39
  so
• 18:39
  we've
• 18:39
  crossed
• 18:39
  the
• 18:39
  chasm.
• 18:41
  Clearly
• 18:41
  the
• 18:41
  cost
• 18:41
  has
• 18:42
  come
• 18:42
  down.
• 18:43
  We're
• 18:43
  getting
• 18:43
  better
• 18:43
  at
• 18:44
  manufacturing
• 18:45
  products
• 18:45
  and
• 18:45
  putting
• 18:46
  chips
• 18:46
  in
• 18:46
  them,
• 18:46
  you
• 18:46
  know,
• 18:47
  where
• 18:47
  they
• 18:47
  can
• 18:47
  go
• 18:48
  and
• 18:48
  tags.
• 18:50
  But
• 18:50
  it's
• 18:50
  still
• 18:50
  a
• 18:50
  very
• 18:51
  complex
• 18:52
  ecosystem
• 18:52
  of,
• 18:53
  of
• 18:53
  parts
• 18:54
  and
• 18:54
  technology.
• 18:54
  You
• 18:55
  know,
• 18:55
  you
• 18:55
  have
• 18:55
  old
• 18:55
  guard
• 18:56
  like
• 18:56
  Avery
• 18:57
  Denison
• 18:57
  making
• 18:58
  rfid.
• 18:59
  You
• 18:59
  have
• 18:59
  like
• 18:59
  Zebra
• 19:00
  that
• 19:00
  makes
• 19:00
  the
• 19:00
  tech
• 19:01
  to
• 19:01
  read
• 19:01
  them.
• 19:02
  You
• 19:02
  have
• 19:02
  companies
• 19:03
  like
• 19:03
  Radar
• 19:03
  that
• 19:04
  are
• 19:04
  trying
• 19:04
  to
• 19:04
  do
• 19:05
  all
• 19:05
  the
• 19:05
  parts
• 19:05
  of
• 19:05
  it.
• 19:06
  And
• 19:07
  so,
• 19:07
  you
• 19:08
  know,
• 19:08
  as
• 19:08
  a
• 19:08
  retailer
• 19:09
  or
• 19:09
  brand,
• 19:10
  you
• 19:10
  how
• 19:11
  do
• 19:11
  you
• 19:11
  know
• 19:11
  who
• 19:11
  you
• 19:12
  know
• 19:12
  that
• 19:12
  who
• 19:12
  you
• 19:13
  align
• 19:13
  with
• 19:13
  or
• 19:13
  who
• 19:13
  you
• 19:14
  connect
• 19:14
  with
• 19:14
  will
• 19:14
  actually
• 19:15
  be
• 19:15
  able
• 19:15
  to
• 19:15
  change
• 19:15
  as
• 19:16
  the
• 19:16
  technology
• 19:16
  evolves.
• 19:17
  And
• 19:17
  I
• 19:17
  think
• 19:17
  that's
• 19:17
  the
• 19:17
  big
• 19:18
  question
• 19:19
  if
• 19:19
  you're
• 19:20
  looking
• 19:20
  at
• 19:20
  it
• 19:20
  from
• 19:20
  that
• 19:21
  side.
• 19:21
  But
• 19:21
  you
• 19:22
  know,
• 19:23
  having
• 19:23
  having
• 19:24
  Old
• 19:24
  Navy
• 19:24
  and
• 19:24
  American
• 19:24
  Eagle
• 19:25
  under
• 19:25
  their
• 19:25
  belt
• 19:25
  I
• 19:25
  think
• 19:26
  is
• 19:26
  a
• 19:26
  really
• 19:26
  good
• 19:27
  sign
• 19:27
  for
• 19:27
  their
• 19:27
  solution.
• 19:29
  And,
• 19:29
  you
• 19:29
  know,
• 19:30
  it's
• 19:30
  going
• 19:30
  to
• 19:30
  get
• 19:30
  way
• 19:31
  more
• 19:31
  complex.
• 19:31
  You
• 19:31
  know,
• 19:31
  Walmart's
• 19:32
  still
• 19:32
  working
• 19:32
  on
• 19:32
  it
• 19:33
  with
• 19:33
  Avery
• 19:33
  and
• 19:34
  Fresh.
• 19:34
  We're
• 19:35
  trying
• 19:35
  to
• 19:35
  get
• 19:35
  into
• 19:35
  more
• 19:35
  categories.
• 19:37
  I
• 19:37
  think
• 19:37
  there's
• 19:37
  still
• 19:37
  some
• 19:38
  FDA
• 19:38
  requirements
• 19:39
  around
• 19:39
  it
• 19:40
  coming
• 19:40
  up
• 19:41
  in
• 19:41
  a
• 19:41
  few
• 19:41
  years.
• 19:42
  So
• 19:43
  it's
• 19:43
  definitely
• 19:43
  going
• 19:43
  to
• 19:43
  be
• 19:43
  a
• 19:43
  space
• 19:44
  to
• 19:44
  keep
• 19:44
  an
• 19:44
  eye
• 19:44
  on.
• 19:46
  Yeah,
• 19:46
  right.
• 19:46
  Yeah,
• 19:47
  you
• 19:47
  bring
• 19:47
  up
• 19:47
  a
• 19:47
  lot
• 19:47
  of
• 19:47
  great
• 19:47
  points.
• 19:48
  Like
• 19:48
  that's
• 19:48
  your
• 19:49
  point
• 19:49
  about
• 19:49
  what's
• 19:49
  the
• 19:49
  vertical
• 19:50
  and
• 19:50
  what's
• 19:50
  the
• 19:50
  right
• 19:51
  solution
• 19:51
  is
• 19:51
  really
• 19:51
  key,
• 19:51
  like
• 19:52
  we
• 19:52
  just
• 19:52
  talked
• 19:52
  about
• 19:52
  with
• 19:52
  Starbucks.
• 19:53
  You're
• 19:53
  alluding
• 19:53
  to
• 19:53
  it
• 19:54
  with
• 19:54
  Grocery.
• 19:54
  That's
• 19:54
  why
• 19:54
  I
• 19:54
  like
• 19:55
  robotics
• 19:55
  in
• 19:55
  Grocery,
• 19:56
  because
• 19:56
  it's
• 19:56
  a
• 19:57
  different.
• 19:57
  It's
• 19:58
  a
• 19:58
  different
• 19:58
  element
• 19:59
  to
• 19:59
  how
• 19:59
  that
• 20:00
  that
• 20:01
  store
• 20:01
  assortment
• 20:01
  works.
• 20:02
  Whereas
• 20:02
  robotics
• 20:02
  in
• 20:03
  an
• 20:03
  apparel
• 20:03
  store
• 20:04
  is
• 20:04
  tougher
• 20:04
  because,
• 20:04
  like,
• 20:05
  how
• 20:05
  does
• 20:05
  the
• 20:05
  robot
• 20:05
  tell
• 20:06
  between,
• 20:06
  you
• 20:06
  know,
• 20:07
  a
• 20:07
  medium
• 20:07
  and
• 20:07
  a
• 20:07
  small?
• 20:08
  It's
• 20:08
  really
• 20:08
  tough.
• 20:09
  Right?
• 20:10
  But
• 20:10
  RFID
• 20:10
  enables
• 20:11
  that,
• 20:11
  whereas
• 20:11
  you
• 20:12
  have
• 20:12
  the
• 20:12
  hangups
• 20:12
  with
• 20:12
  RFID,
• 20:13
  like
• 20:13
  liquids,
• 20:14
  metals,
• 20:14
  all
• 20:14
  those
• 20:14
  things,
• 20:14
  which
• 20:14
  they're
• 20:15
  solved
• 20:15
  for
• 20:15
  day
• 20:16
  and
• 20:16
  day.
• 20:16
  If
• 20:16
  I
• 20:16
  talk
• 20:16
  to
• 20:16
  the
• 20:16
  RF
• 20:17
  ID
• 20:17
  folks,
• 20:17
  they'll
• 20:18
  always.
• 20:18
  They
• 20:18
  always
• 20:18
  correct
• 20:18
  me
• 20:19
  on
• 20:19
  that
• 20:19
  whenever
• 20:19
  I
• 20:19
  say
• 20:19
  that.
• 20:19
  And
• 20:20
  I'm
• 20:20
  like,
• 20:20
  yeah,
• 20:20
  it's
• 20:20
  getting
• 20:20
  better,
• 20:21
  but
• 20:21
  it's
• 20:21
  still
• 20:21
  not
• 20:22
  potentially
• 20:22
  where
• 20:22
  it
• 20:23
  needs
• 20:23
  to
• 20:23
  be
• 20:23
  from
• 20:23
  a
• 20:23
  mass
• 20:23
  rollout
• 20:24
  standpoint.
• 20:24
  So
• 20:25
  the
• 20:25
  other
• 20:25
  point
• 20:25
  I
• 20:25
  make,
• 20:26
  just
• 20:26
  as
• 20:26
  closing,
• 20:26
  because
• 20:27
  I
• 20:27
  want
• 20:27
  to
• 20:27
  give
• 20:27
  Spencer
• 20:28
  his
• 20:28
  props.
• 20:29
  Dude's
• 20:29
  been
• 20:29
  at
• 20:30
  this
• 20:30
  for
• 20:30
  like
• 20:30
  10
• 20:30
  years.
• 20:31
  And
• 20:31
  he
• 20:31
  started
• 20:32
  out,
• 20:32
  he
• 20:32
  started
• 20:33
  out
• 20:33
  as
• 20:33
  like,
• 20:33
  computer
• 20:34
  vision
• 20:34
  checkout
• 20:35
  free.
• 20:35
  That's
• 20:35
  how
• 20:35
  he
• 20:36
  was
• 20:36
  going
• 20:36
  to
• 20:36
  do
• 20:36
  this
• 20:36
  for
• 20:36
  the
• 20:37
  apparel
• 20:37
  space.
• 20:38
  And
• 20:38
  he
• 20:38
  smartly
• 20:39
  has
• 20:39
  pivoted
• 20:39
  because
• 20:39
  he's
• 20:40
  like,
• 20:40
  you
• 20:40
  know
• 20:40
  what?
• 20:40
  My
• 20:40
  technology
• 20:41
  is
• 20:41
  still
• 20:41
  great
• 20:42
  for
• 20:42
  providing
• 20:43
  the
• 20:43
  use
• 20:43
  case
• 20:43
  that
• 20:43
  retailers
• 20:44
  need,
• 20:44
  which
• 20:44
  is,
• 20:44
  again,
• 20:45
  accuracy
• 20:45
  and
• 20:46
  insights
• 20:46
  off
• 20:46
  the
• 20:46
  data.
• 20:47
  And
• 20:47
  so
• 20:48
  that's
• 20:48
  what's
• 20:48
  really
• 20:48
  fascinating.
• 20:48
  And
• 20:49
  the
• 20:49
  last
• 20:49
  question
• 20:49
  I'm
• 20:49
  going
• 20:49
  to
• 20:49
  ask
• 20:50
  him,
• 20:50
  so
• 20:50
  he
• 20:50
  needs
• 20:51
  to
• 20:51
  get
• 20:51
  ready
• 20:51
  for
• 20:51
  it,
• 20:51
  if
• 20:51
  he's
• 20:52
  listening,
• 20:52
  is
• 20:52
  where's
• 20:53
  he.
• 20:53
  Where
• 20:53
  are
• 20:53
  you
• 20:53
  going
• 20:53
  next?
• 20:54
  Like,
• 20:54
  what
• 20:54
  are
• 20:54
  you
• 20:54
  doing
• 20:55
  with
• 20:55
  that
• 20:55
  money?
• 20:55
  How
• 20:56
  are
• 20:56
  you
• 20:56
  scaling
• 20:56
  what's
• 20:57
  over
• 20:57
  the
• 20:57
  hill
• 20:57
  for
• 20:57
  you?
• 20:58
  So
• 20:58
  I
• 20:58
  can't
• 20:58
  wait
• 20:59
  to
• 20:59
  talk
• 20:59
  to
• 20:59
  him
• 20:59
  about
• 20:59
  it.
• 21:00
  Yeah,
• 21:00
  that's
• 21:00
  great.
• 21:01
  That's
• 21:01
  a
• 21:01
  very
• 21:01
  timely,
• 21:02
  timely
• 21:03
  get.
• 21:03
  I'm
• 21:03
  glad
• 21:03
  he's
• 21:03
  coming
• 21:04
  back.
• 21:04
  And
• 21:05
  hopefully
• 21:05
  you'll.
• 21:06
  You'll
• 21:06
  get
• 21:06
  him
• 21:06
  that
• 21:06
  beer
• 21:07
  virtually
• 21:07
  or.
• 21:08
  Yeah,
• 21:08
  yeah,
• 21:08
  no,
• 21:08
  yeah.
• 21:10
  Next
• 21:10
  time
• 21:10
  we're
• 21:10
  in
• 21:11
  real
• 21:11
  life
• 21:11
  together,
• 21:11
  I'm
• 21:11
  definitely
• 21:12
  getting
• 21:12
  that
• 21:12
  beer.
• 21:12
  And
• 21:13
  not
• 21:13
  surprising,
• 21:13
  I
• 21:14
  heard
• 21:14
  from
• 21:14
  them
• 21:14
  as
• 21:14
  soon
• 21:14
  as
• 21:15
  that
• 21:15
  announcement
• 21:15
  broke,
• 21:16
  too,
• 21:16
  which
• 21:16
  was
• 21:16
  great.
• 21:17
  All
• 21:17
  right,
• 21:17
  headline
• 21:18
  number
• 21:18
  three.
• 21:18
  Headline
• 21:18
  number
• 21:19
  three
• 21:19
  is
• 21:19
  brought
• 21:19
  to
• 21:19
  you.
• 21:19
  Buy
• 21:20
  Corso.
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• 21:20
  stores
• 21:21
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• 21:21
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• 21:22
  but
• 21:22
  are
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  your
• 21:22
  teams
• 21:23
  acting
• 21:23
  on
• 21:23
  it?
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  Corso
• 21:24
  turns
• 21:24
  retail
• 21:24
  data
• 21:25
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• 21:25
  personalized
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  dos
• 21:27
  that
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  drive
• 21:27
  sales,
• 21:28
  reduce
• 21:28
  waste,
• 21:28
  and
• 21:28
  improve
• 21:29
  execution.
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  No
• 21:29
  fluff,
• 21:30
  just
• 21:30
  action.
• 21:31
  Help
• 21:31
  your
• 21:31
  managers
• 21:31
  focus
• 21:32
  on
• 21:32
  what
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  matters
• 21:33
  most.
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  Visit
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  corso.com
• 21:35
  to
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  see
• 21:35
  intelligent
• 21:36
  management
• 21:36
  in
• 21:36
  motion.
• 21:38
  All
• 21:38
  right,
• 21:38
  number
• 21:38
  three.
• 21:39
  Google
• 21:39
  search
• 21:40
  is
• 21:40
  getting
• 21:40
  its
• 21:41
  biggest
• 21:41
  overhaul
• 21:41
  in
• 21:42
  over
• 21:42
  25
• 21:43
  years.
• 21:43
  This
• 21:43
  announcement
• 21:44
  is
• 21:44
  quite
• 21:44
  big,
• 21:45
  with
• 21:45
  the
• 21:45
  company
• 21:46
  announcing
• 21:46
  at
• 21:46
  its
• 21:46
  IO
• 21:47
  developer
• 21:47
  conference
• 21:47
  last
• 21:48
  week
• 21:48
  that
• 21:48
  it's
• 21:48
  completely
• 21:49
  reimagining
• 21:49
  the
• 21:50
  search
• 21:50
  box
• 21:50
  with
• 21:50
  AI
• 21:51
  surpassing
• 21:52
  1
• 21:52
  billion
• 21:52
  monthly
• 21:53
  users
• 21:53
  for
• 21:53
  AI
• 21:54
  mode
• 21:54
  and
• 21:54
  launching
• 21:55
  always
• 21:55
  on
• 21:55
  background
• 21:56
  agents
• 21:57
  that
• 21:57
  monitor
• 21:57
  the
• 21:57
  web
• 21:58
  without
• 21:58
  any
• 21:58
  user
• 21:59
  prompt.
• 22:00
  According
• 22:00
  to
• 22:00
  the
• 22:00
  Verge,
• 22:01
  which
• 22:01
  once
• 22:01
  again
• 22:02
  for
• 22:02
  all
• 22:02
  you
• 22:02
  loyal
• 22:02
  listeners
• 22:03
  out
• 22:03
  there,
• 22:03
  should
• 22:03
  never
• 22:04
  be
• 22:05
  confused
• 22:05
  with
• 22:06
  the
• 22:06
  fabulous
• 22:07
  band
• 22:07
  the
• 22:07
  verve,
• 22:08
  Google
• 22:08
  announced
• 22:09
  five
• 22:09
  major
• 22:10
  search
• 22:10
  changes
• 22:10
  at
• 22:10
  its
• 22:11
  May
• 22:11
  19
• 22:11
  keynote.
• 22:12
  Number
• 22:12
  one,
• 22:13
  a
• 22:13
  completely
• 22:13
  rebuilt
• 22:14
  search
• 22:14
  box.
• 22:14
  Number
• 22:14
  two,
• 22:15
  a
• 22:15
  new
• 22:15
  default
• 22:15
  AI
• 22:16
  model
• 22:16
  powering
• 22:17
  AI
• 22:17
  mode.
• 22:18
  Number
• 22:18
  three,
• 22:18
  persistent
• 22:19
  background
• 22:19
  agents
• 22:20
  that
• 22:20
  work
• 22:20
  on
• 22:20
  a
• 22:20
  user's
• 22:21
  behalf
• 22:21
  without
• 22:21
  being
• 22:21
  asked.
• 22:22
  Number
• 22:23
  four,
• 22:23
  expanded
• 22:24
  agentic
• 22:24
  booking
• 22:25
  for
• 22:25
  local
• 22:25
  services
• 22:26
  and
• 22:26
  number
• 22:26
  five,
• 22:27
  and
• 22:27
  finally,
• 22:27
  a
• 22:27
  rollout
• 22:28
  of
• 22:28
  personal
• 22:28
  intelligence
• 22:29
  features
• 22:30
  to
• 22:30
  nearly
• 22:30
  200
• 22:31
  countries.
• 22:32
  And
• 22:32
  most
• 22:33
  features
• 22:33
  require
• 22:33
  no
• 22:34
  subscription.
• 22:34
  The
• 22:35
  new
• 22:35
  search
• 22:35
  box
• 22:35
  supports
• 22:36
  text,
• 22:36
  image
• 22:37
  files,
• 22:37
  videos
• 22:38
  and
• 22:38
  Chrome
• 22:39
  tabs
• 22:39
  simultaneously.
• 22:41
  Background
• 22:41
  agents,
• 22:41
  a
• 22:42
  new
• 22:42
  category
• 22:42
  entirely,
• 22:43
  can
• 22:43
  monitor
• 22:44
  topics
• 22:44
  of
• 22:44
  interest
• 22:45
  and
• 22:45
  proactively
• 22:46
  surface
• 22:46
  updates
• 22:47
  without
• 22:47
  the
• 22:47
  user
• 22:48
  ever
• 22:48
  even
• 22:48
  typing
• 22:49
  a
• 22:49
  query.
• 22:49
  For
• 22:50
  retailers,
• 22:50
  the
• 22:50
  implications
• 22:51
  here
• 22:51
  are
• 22:51
  potentially
• 22:52
  significant.
• 22:52
  AI
• 22:53
  generated
• 22:53
  shopping
• 22:54
  summaries
• 22:54
  now
• 22:54
  claim
• 22:55
  the
• 22:55
  majority
• 22:55
  of
• 22:56
  above
• 22:56
  the
• 22:56
  fold
• 22:57
  real
• 22:57
  estate
• 22:57
  in
• 22:57
  product
• 22:58
  searches
• 22:58
  and
• 22:59
  brands
• 22:59
  cited
• 22:59
  inside
• 23:00
  AI
• 23:00
  overviews
• 23:01
  are
• 23:01
  seeing
• 23:01
  meaningfully
• 23:02
  more
• 23:02
  organic
• 23:03
  clicks
• 23:03
  than
• 23:04
  non
• 23:04
  cited
• 23:05
  competitors,
• 23:06
  according
• 23:06
  to
• 23:06
  early
• 23:06
  data.
• 23:07
  Laura
• 23:08
  this
• 23:08
  also
• 23:08
  happens
• 23:08
  to
• 23:08
  be
• 23:09
  the
• 23:09
  A
• 23:09
  and
• 23:09
  M
• 23:10
  put
• 23:10
  you
• 23:10
  on
• 23:10
  the
• 23:11
  spot
• 23:11
  Question
• 23:11
  of
• 23:12
  the
• 23:12
  week
• 23:12
  the
• 23:12
  A
• 23:12
  and
• 23:12
  M
• 23:12
  consumer
• 23:13
  and
• 23:13
  retail
• 23:13
  groups
• 23:13
  put
• 23:13
  you
• 23:14
  on
• 23:14
  the
• 23:14
  spot
• 23:14
  question
• 23:14
  of
• 23:14
  the
• 23:14
  week.
• 23:15
  And
• 23:15
  so
• 23:15
  here
• 23:15
  it
• 23:15
  is.
• 23:16
  Often
• 23:17
  people
• 23:17
  are
• 23:17
  criticized
• 23:18
  for
• 23:18
  using
• 23:18
  AI
• 23:19
  like
• 23:19
  Google.
• 23:20
  Hmm.
• 23:20
  Are
• 23:21
  these
• 23:21
  changes
• 23:21
  enough
• 23:22
  to
• 23:22
  make
• 23:22
  people
• 23:22
  use
• 23:23
  Google
• 23:23
  search
• 23:24
  like
• 23:24
  AI?
• 23:25
  I
• 23:25
  think
• 23:25
  the
• 23:25
  simple
• 23:26
  question
• 23:26
  is
• 23:26
  that
• 23:26
  people
• 23:27
  are
• 23:28
  probably
• 23:28
  already
• 23:28
  using
• 23:29
  Google
• 23:29
  or
• 23:30
  the
• 23:30
  simple
• 23:30
  answer
• 23:30
  to
• 23:30
  that
• 23:31
  is
• 23:31
  people
• 23:31
  are
• 23:31
  using
• 23:32
  Google
• 23:32
  like
• 23:32
  AI.
• 23:34
  And
• 23:34
  I
• 23:34
  have
• 23:35
  always
• 23:36
  really
• 23:36
  my
• 23:36
  sort
• 23:37
  of
• 23:37
  black
• 23:37
  and
• 23:37
  white
• 23:37
  take
• 23:38
  is
• 23:38
  just
• 23:38
  that
• 23:38
  Google
• 23:39
  wins.
• 23:39
  I
• 23:39
  mean
• 23:39
  Google
• 23:40
  is
• 23:41
  the
• 23:41
  best,
• 23:42
  is
• 23:42
  the
• 23:42
  best
• 23:42
  positioned
• 23:43
  here
• 23:43
  it
• 23:44
  has
• 23:44
  the
• 23:44
  volume.
• 23:45
  Especially
• 23:46
  when
• 23:46
  it
• 23:46
  comes
• 23:46
  to
• 23:47
  AI
• 23:48
  and
• 23:48
  commerce,
• 23:51
  you
• 23:51
  can't
• 23:51
  beat
• 23:52
  the
• 23:52
  volume
• 23:53
  that
• 23:53
  Google
• 23:54
  has
• 23:54
  right
• 23:54
  now.
• 23:55
  You
• 23:56
  know,
• 23:56
  there
• 23:56
  was
• 23:56
  a
• 23:56
  chart
• 23:56
  that
• 23:57
  went
• 23:57
  around
• 23:58
  a
• 23:58
  few
• 23:58
  months
• 23:58
  ago
• 23:59
  around
• 24:00
  daily
• 24:00
  traffic
• 24:00
  for
• 24:01
  purchasable
• 24:01
  product
• 24:02
  and
• 24:02
  it
• 24:02
  showed
• 24:02
  this
• 24:03
  big
• 24:03
  huge
• 24:04
  bar
• 24:04
  for
• 24:04
  ChatGPT.
• 24:06
  The
• 24:06
  math
• 24:06
  has,
• 24:07
  has
• 24:07
  people
• 24:07
  have
• 24:07
  debated
• 24:08
  the
• 24:08
  math
• 24:08
  online
• 24:09
  in
• 24:09
  the,
• 24:09
  in
• 24:10
  the,
• 24:10
  the
• 24:11
  retail
• 24:11
  substacks
• 24:12
  and
• 24:13
  so
• 24:13
  and,
• 24:13
  and
• 24:13
  kind
• 24:14
  of
• 24:14
  cleared
• 24:14
  some
• 24:14
  of
• 24:14
  it
• 24:14
  up.
• 24:15
  But
• 24:16
  you
• 24:16
  know
• 24:16
  the,
• 24:17
  the
• 24:17
  short
• 24:17
  story
• 24:18
  is
• 24:18
  that
• 24:18
  actually
• 24:18
  Amazon
• 24:19
  traffic
• 24:19
  is
• 24:19
  way
• 24:20
  higher
• 24:20
  and
• 24:20
  then
• 24:20
  Google
• 24:21
  just
• 24:21
  blows
• 24:21
  them
• 24:21
  all
• 24:21
  out
• 24:22
  of
• 24:22
  the
• 24:22
  water
• 24:22
  now.
• 24:22
  You
• 24:23
  know,
• 24:23
  harder
• 24:23
  to
• 24:23
  figure
• 24:24
  out
• 24:24
  where,
• 24:25
  whether
• 24:25
  all
• 24:25
  of
• 24:25
  that
• 24:26
  is
• 24:26
  around
• 24:26
  trying
• 24:27
  to
• 24:27
  buy
• 24:27
  stuff.
• 24:29
  You
• 24:29
  know,
• 24:29
  the
• 24:29
  flip
• 24:30
  side
• 24:30
  is,
• 24:30
  you
• 24:30
  know,
• 24:31
  Google
• 24:31
  has
• 24:31
  all
• 24:31
  these
• 24:31
  statistics
• 24:32
  about
• 24:33
  users
• 24:34
  and
• 24:34
  using
• 24:34
  AI
• 24:35
  mode.
• 24:36
  I
• 24:36
  don't
• 24:36
  know
• 24:36
  if
• 24:36
  anyone's
• 24:37
  actually
• 24:37
  doing
• 24:37
  that
• 24:37
  by
• 24:38
  choice,
• 24:39
  you
• 24:39
  know,
• 24:39
  and
• 24:40
  if
• 24:40
  anybody
• 24:40
  who's
• 24:41
  ever
• 24:41
  gotten
• 24:41
  an
• 24:41
  AI
• 24:42
  overview.
• 24:42
  I
• 24:42
  think
• 24:43
  there's
• 24:43
  a
• 24:43
  real
• 24:44
  feeling
• 24:44
  that
• 24:44
  they're
• 24:44
  wrong
• 24:45
  a
• 24:45
  lot
• 24:45
  of
• 24:45
  the
• 24:45
  time.
• 24:46
  Is
• 24:47
  it
• 24:47
  wrong
• 24:47
  more
• 24:47
  than
• 24:47
  ChatGPT
• 24:48
  or
• 24:49
  its
• 24:49
  brethren?
• 24:50
  I
• 24:50
  don't
• 24:50
  know.
• 24:50
  Are
• 24:50
  we
• 24:50
  just
• 24:51
  accustomed
• 24:51
  to
• 24:51
  Google
• 24:52
  being
• 24:52
  right
• 24:52
  a
• 24:52
  lot?
• 24:53
  You
• 24:54
  know,
• 24:54
  I,
• 24:54
  but
• 24:55
  that
• 24:55
  all
• 24:55
  said,
• 24:57
  Google's
• 24:57
  position
• 24:58
  as
• 24:59
  the,
• 25:00
  the
• 25:00
  destination
• 25:01
  of
• 25:01
  choice
• 25:01
  in
• 25:02
  the
• 25:02
  past,
• 25:03
  you
• 25:03
  know,
• 25:04
  I
• 25:04
  still
• 25:04
  think
• 25:04
  sets
• 25:05
  it
• 25:05
  up
• 25:05
  really
• 25:05
  well
• 25:06
  to
• 25:06
  be,
• 25:07
  you
• 25:07
  know,
• 25:07
  the
• 25:08
  shopping
• 25:08
  destination.
• 25:10
  And
• 25:10
  that's,
• 25:11
  that's
• 25:11
  the
• 25:11
  part
• 25:11
  that
• 25:11
  I'm
• 25:12
  actually
• 25:12
  most
• 25:12
  focused
• 25:12
  on
• 25:13
  in
• 25:13
  all
• 25:13
  of
• 25:13
  Google's
• 25:13
  announcements
• 25:14
  is
• 25:15
  not
• 25:15
  really
• 25:15
  AI
• 25:16
  mode
• 25:16
  broadly,
• 25:17
  but
• 25:17
  all
• 25:17
  of
• 25:18
  the
• 25:18
  AI
• 25:18
  enabled
• 25:19
  shopping
• 25:19
  features
• 25:19
  that
• 25:19
  are
• 25:20
  underneath
• 25:20
  it.
• 25:21
  You
• 25:21
  know,
• 25:22
  Scott
• 25:23
  Wingo,
• 25:23
  who
• 25:23
  writes
• 25:24
  the
• 25:24
  retail
• 25:24
  Gentic
• 25:25
  substack,
• 25:26
  he
• 25:26
  talked,
• 25:27
  he
• 25:27
  called
• 25:27
  out,
• 25:28
  he
• 25:28
  called
• 25:28
  out
• 25:28
  specifically
• 25:29
  that
• 25:30
  they
• 25:30
  added
• 25:31
  conversational
• 25:32
  attributes
• 25:33
  to,
• 25:34
  you
• 25:34
  know,
• 25:34
  how
• 25:34
  you
• 25:34
  tag
• 25:35
  a
• 25:35
  product
• 25:35
  on
• 25:35
  Google
• 25:36
  and
• 25:36
  that's
• 25:37
  a
• 25:37
  move
• 25:37
  toward,
• 25:38
  you
• 25:38
  know,
• 25:39
  reading
• 25:39
  a
• 25:39
  product's
• 25:40
  information
• 25:41
  more
• 25:41
  like
• 25:41
  a
• 25:41
  ChatGPT
• 25:42
  or
• 25:42
  you
• 25:43
  know,
• 25:43
  an
• 25:43
  answer
• 25:43
  engine
• 25:44
  would
• 25:44
  instead
• 25:44
  of
• 25:44
  just
• 25:45
  a
• 25:45
  keyword.
• 25:46
  And
• 25:47
  so,
• 25:47
  you
• 25:47
  know,
• 25:47
  the
• 25:47
  search
• 25:47
  bar
• 25:48
  is
• 25:48
  a
• 25:48
  place
• 25:48
  where
• 25:48
  consumers
• 25:49
  want
• 25:50
  are
• 25:50
  going
• 25:50
  to
• 25:51
  use
• 25:51
  natural
• 25:51
  language.
• 25:52
  I
• 25:52
  think
• 25:52
  we're
• 25:52
  just
• 25:52
  all
• 25:53
  getting
• 25:53
  used
• 25:53
  to
• 25:54
  doing
• 25:54
  that
• 25:55
  everywhere
• 25:55
  we
• 25:55
  search.
• 25:57
  And
• 25:57
  so
• 25:57
  I
• 25:58
  think
• 25:58
  the
• 25:58
  short
• 25:58
  story
• 25:58
  is
• 25:58
  if
• 25:59
  you're
• 25:59
  a
• 25:59
  retailer
• 25:59
  brand,
• 26:00
  you
• 26:00
  just
• 26:00
  have
• 26:00
  to
• 26:00
  be
• 26:00
  ready
• 26:01
  for
• 26:01
  this
• 26:01
  reality.
• 26:03
  I
• 26:03
  think
• 26:03
  Google
• 26:03
  is
• 26:04
  still
• 26:04
  really
• 26:04
  well
• 26:04
  positioned.
• 26:05
  I
• 26:05
  think,
• 26:05
  you
• 26:06
  know,
• 26:06
  the
• 26:07
  reasons
• 26:07
  why
• 26:07
  will
• 26:07
  come
• 26:08
  up
• 26:08
  in
• 26:08
  a
• 26:08
  little
• 26:08
  bit
• 26:08
  and
• 26:09
  when
• 26:09
  we
• 26:09
  talk
• 26:09
  a
• 26:09
  little
• 26:09
  bit
• 26:09
  more
• 26:09
  about
• 26:10
  Klarna
• 26:11
  and
• 26:11
  you
• 26:12
  know,
• 26:12
  what's
• 26:12
  going
• 26:13
  to
• 26:13
  happen
• 26:13
  on
• 26:13
  ChatGPT.
• 26:15
  But
• 26:16
  the
• 26:16
  way
• 26:16
  your
• 26:16
  product
• 26:16
  information
• 26:17
  is
• 26:17
  structured,
• 26:18
  you
• 26:18
  know,
• 26:18
  the
• 26:19
  richness
• 26:19
  of
• 26:19
  your
• 26:19
  attributes,
• 26:21
  you
• 26:21
  know,
• 26:21
  based
• 26:21
  on
• 26:21
  what
• 26:21
  I've
• 26:22
  heard
• 26:22
  from
• 26:22
  brands
• 26:22
  I
• 26:22
  mentioned,
• 26:23
  I
• 26:23
  spoke
• 26:24
  with
• 26:24
  somebody
• 26:24
  from
• 26:24
  Steve
• 26:24
  Madden.
• 26:25
  They
• 26:25
  said
• 26:25
  it
• 26:26
  took
• 26:26
  a
• 26:26
  year
• 26:26
  to
• 26:27
  make
• 26:27
  sure
• 26:27
  their
• 26:27
  data
• 26:27
  was
• 26:28
  ready.
• 26:28
  And
• 26:28
  they
• 26:29
  worked
• 26:29
  with
• 26:29
  Scott
• 26:29
  Wingo's
• 26:30
  company
• 26:30
  incidentally.
• 26:31
  And
• 26:31
  so
• 26:33
  they
• 26:33
  had
• 26:33
  to
• 26:33
  get
• 26:34
  their
• 26:34
  data
• 26:34
  ready.
• 26:34
  It
• 26:34
  took
• 26:35
  up
• 26:35
  to
• 26:35
  a
• 26:35
  year.
• 26:36
  Obviously
• 26:36
  they're
• 26:37
  probably
• 26:37
  still
• 26:37
  iterating
• 26:38
  all
• 26:38
  the
• 26:38
  time
• 26:38
  because
• 26:38
  these
• 26:39
  engines
• 26:39
  can
• 26:39
  read
• 26:40
  all
• 26:40
  kinds
• 26:40
  of
• 26:40
  different
• 26:40
  stuff.
• 26:41
  So
• 26:41
  if
• 26:41
  Google
• 26:42
  being
• 26:42
  active
• 26:43
  in
• 26:43
  this
• 26:43
  space
• 26:43
  is
• 26:43
  the
• 26:44
  impetus
• 26:44
  for
• 26:44
  that
• 26:45
  from
• 26:45
  the
• 26:45
  retail
• 26:46
  perspective,
• 26:47
  you
• 26:48
  know,
• 26:48
  then
• 26:48
  I
• 26:48
  think
• 26:48
  it's
• 26:49
  a
• 26:49
  really,
• 26:50
  you
• 26:50
  know,
• 26:50
  worthwhile
• 26:51
  place
• 26:51
  for
• 26:52
  a
• 26:52
  retailer
• 26:52
  or
• 26:52
  brand
• 26:53
  to
• 26:53
  spend
• 26:53
  their
• 26:53
  time.
• 26:54
  Nice.
• 26:55
  Okay,
• 26:55
  so
• 26:55
  I've
• 26:55
  got,
• 26:55
  I've
• 26:56
  got
• 26:56
  an
• 26:56
  observation
• 26:57
  that
• 26:57
  I'm
• 26:57
  going
• 26:57
  to
• 26:57
  push
• 26:58
  you
• 26:58
  a
• 26:58
  little
• 26:58
  bit
• 26:58
  because
• 26:59
  I
• 26:59
  think
• 26:59
  it's
• 26:59
  important
• 27:00
  to
• 27:00
  push
• 27:00
  you.
• 27:00
  I
• 27:00
  want
• 27:00
  to
• 27:00
  push
• 27:01
  you
• 27:01
  on
• 27:01
  this
• 27:01
  one.
• 27:01
  So
• 27:01
  the
• 27:02
  first
• 27:02
  one
• 27:02
  is
• 27:02
  the
• 27:02
  observation
• 27:03
  that
• 27:03
  there
• 27:03
  are
• 27:04
  sub
• 27:04
  stacks
• 27:04
  and
• 27:04
  subreddits
• 27:05
  for
• 27:05
  all
• 27:06
  the
• 27:06
  things
• 27:06
  we
• 27:06
  Geek
• 27:06
  out
• 27:06
  on
• 27:07
  that
• 27:07
  is
• 27:08
  fantastic.
• 27:08
  I
• 27:08
  love
• 27:09
  that
• 27:09
  you
• 27:09
  just
• 27:09
  came
• 27:09
  clean
• 27:09
  on
• 27:10
  that.
• 27:10
  That's
• 27:10
  great.
• 27:11
  And
• 27:11
  then
• 27:12
  second,
• 27:12
  I
• 27:12
  want
• 27:12
  to
• 27:12
  push
• 27:12
  you
• 27:12
  so
• 27:12
  you
• 27:13
  stick
• 27:13
  usick.
• 27:14
  Google
• 27:14
  has
• 27:14
  a
• 27:14
  right
• 27:14
  to
• 27:15
  win
• 27:15
  and
• 27:15
  I
• 27:15
  want
• 27:15
  to
• 27:16
  be
• 27:16
  very
• 27:16
  specific
• 27:16
  in
• 27:17
  understanding
• 27:17
  what
• 27:17
  you
• 27:17
  think
• 27:17
  they
• 27:18
  have
• 27:18
  a
• 27:18
  right
• 27:18
  to
• 27:18
  win
• 27:19
  at.
• 27:20
  So
• 27:20
  what
• 27:20
  do
• 27:21
  you
• 27:21
  think
• 27:21
  if,
• 27:21
  if
• 27:22
  you're
• 27:22
  specific?
• 27:23
  I
• 27:23
  think
• 27:23
  they
• 27:24
  still
• 27:24
  have
• 27:24
  the
• 27:24
  right
• 27:25
  to
• 27:25
  win
• 27:26
  at
• 27:27
  shopping
• 27:27
  and
• 27:27
  how
• 27:28
  people
• 27:28
  gather
• 27:29
  information
• 27:31
  for
• 27:31
  their
• 27:31
  purchases.
• 27:33
  Because
• 27:33
  we
• 27:33
  have
• 27:34
  seen
• 27:35
  if,
• 27:35
  if
• 27:35
  chat
• 27:36
  GPT
• 27:36
  and
• 27:36
  it's
• 27:37
  a
• 27:37
  checkout
• 27:37
  in
• 27:38
  another
• 27:38
  world
• 27:38
  had
• 27:39
  instant
• 27:40
  checkout
• 27:40
  had
• 27:40
  caught
• 27:40
  on
• 27:41
  and
• 27:41
  people
• 27:41
  were
• 27:42
  out
• 27:42
  here
• 27:42
  trying
• 27:42
  to
• 27:43
  check
• 27:43
  out
• 27:43
  in,
• 27:44
  in
• 27:44
  chat
• 27:44
  GPT
• 27:45
  and
• 27:45
  very
• 27:45
  comfortable
• 27:45
  with
• 27:46
  it,
• 27:47
  then
• 27:48
  we
• 27:48
  might
• 27:48
  be
• 27:49
  having
• 27:49
  a
• 27:49
  different
• 27:49
  conversation
• 27:50
  because
• 27:50
  that
• 27:50
  might
• 27:50
  be
• 27:50
  telling
• 27:51
  us
• 27:51
  that
• 27:51
  people
• 27:51
  have,
• 27:52
  you
• 27:52
  know,
• 27:52
  decamped
• 27:53
  from
• 27:53
  all
• 27:53
  of
• 27:53
  their
• 27:54
  previous
• 27:54
  shopping
• 27:55
  habits
• 27:55
  online
• 27:56
  and
• 27:56
  they're
• 27:56
  doing
• 27:57
  everything
• 27:57
  somewhere
• 27:58
  else.
• 27:59
  They
• 28:00
  retired
• 28:00
  instant
• 28:01
  checkout
• 28:01
  because
• 28:01
  people
• 28:02
  still
• 28:02
  want
• 28:02
  to
• 28:02
  check
• 28:02
  out
• 28:03
  on
• 28:03
  the
• 28:03
  retailer
• 28:04
  websites.
• 28:04
  And
• 28:04
  I
• 28:04
  feel
• 28:05
  like
• 28:05
  Google
• 28:06
  probably
• 28:07
  could
• 28:07
  have
• 28:07
  told
• 28:07
  them
• 28:08
  that
• 28:08
  based
• 28:09
  on,
• 28:09
  you
• 28:09
  know,
• 28:09
  what
• 28:09
  Google
• 28:10
  has
• 28:10
  seen
• 28:10
  over
• 28:11
  time
• 28:11
  with
• 28:12
  Google
• 28:12
  shopping,
• 28:13
  where
• 28:14
  historically
• 28:15
  and
• 28:16
  consumers
• 28:16
  can
• 28:16
  change
• 28:17
  anytime.
• 28:18
  But
• 28:18
  I
• 28:19
  think
• 28:19
  that
• 28:19
  it
• 28:20
  told
• 28:20
  us
• 28:20
  that,
• 28:21
  that
• 28:21
  consumers
• 28:22
  are
• 28:22
  doing
• 28:23
  a
• 28:23
  lot
• 28:23
  of
• 28:23
  research
• 28:23
  on
• 28:24
  ChatGPT,
• 28:25
  but
• 28:26
  it's
• 28:26
  not
• 28:27
  necessarily
• 28:28
  where
• 28:28
  they're
• 28:28
  putting
• 28:29
  all
• 28:29
  of
• 28:29
  their
• 28:30
  stock.
• 28:31
  The
• 28:31
  place
• 28:31
  where
• 28:32
  I
• 28:32
  think
• 28:32
  Google
• 28:32
  has
• 28:32
  really
• 28:33
  has
• 28:33
  the
• 28:33
  right
• 28:33
  to
• 28:33
  win
• 28:33
  though
• 28:34
  is
• 28:34
  if
• 28:34
  this
• 28:34
  at
• 28:35
  any
• 28:35
  point
• 28:35
  goes
• 28:36
  agentic
• 28:36
  or,
• 28:37
  or
• 28:37
  autonomous
• 28:38
  because,
• 28:38
  and
• 28:38
  you
• 28:39
  know,
• 28:39
  I'm
• 28:39
  spoiling
• 28:40
  our
• 28:40
  discussion
• 28:40
  about
• 28:41
  Klarna
• 28:41
  a
• 28:41
  little
• 28:41
  bit.
• 28:42
  That's
• 28:42
  okay.
• 28:42
  The
• 28:43
  wallet
• 28:44
  and
• 28:44
  payment
• 28:45
  and
• 28:45
  the
• 28:45
  idea
• 28:46
  of
• 28:46
  your
• 28:46
  robot
• 28:47
  paying
• 28:47
  for
• 28:47
  you
• 28:48
  requires
• 28:48
  a
• 28:49
  lot
• 28:49
  of
• 28:49
  security,
• 28:50
  technically
• 28:51
  speaking,
• 28:52
  security.
• 28:52
  And
• 28:53
  then,
• 28:54
  you
• 28:54
  know,
• 28:54
  qualitatively
• 28:55
  speaking,
• 28:55
  trust
• 28:56
  and
• 28:57
  where
• 28:57
  you're
• 28:57
  going
• 28:57
  to
• 28:57
  pay.
• 28:58
  And
• 28:59
  Google
• 29:00
  already
• 29:00
  has
• 29:00
  that
• 29:01
  trust.
• 29:01
  It
• 29:01
  has
• 29:02
  a
• 29:02
  wallet,
• 29:03
  it
• 29:03
  has,
• 29:03
  you
• 29:04
  know,
• 29:04
  some,
• 29:04
  some
• 29:05
  features
• 29:05
  that
• 29:06
  are
• 29:06
  already
• 29:06
  built
• 29:07
  in
• 29:07
  versus
• 29:08
  this
• 29:08
  idea
• 29:09
  that
• 29:09
  you're
• 29:09
  going
• 29:09
  to
• 29:09
  have
• 29:09
  to
• 29:10
  sort
• 29:10
  of
• 29:10
  build
• 29:10
  all
• 29:10
  this
• 29:11
  infrastructure
• 29:12
  in
• 29:12
  a
• 29:12
  chat
• 29:13
  GPT
• 29:14
  now,
• 29:14
  you
• 29:15
  know,
• 29:15
  I,
• 29:15
  I'm
• 29:15
  sure
• 29:15
  OpenAI
• 29:16
  we
• 29:16
  have
• 29:17
  these
• 29:17
  partnerships
• 29:17
  with
• 29:17
  Shopify
• 29:18
  and
• 29:18
  there's,
• 29:18
  there's,
• 29:19
  there's
• 29:19
  stuff
• 29:19
  coming
• 29:19
  up,
• 29:20
  you
• 29:20
  know,
• 29:20
  we
• 29:21
  could
• 29:21
  do
• 29:21
  as
• 29:21
  the
• 29:22
  substack
• 29:22
  show.
• 29:22
  We
• 29:23
  could
• 29:23
  have
• 29:23
  a
• 29:23
  whole
• 29:23
  other
• 29:24
  podcast
• 29:24
  just
• 29:24
  about
• 29:25
  that.
• 29:26
  But
• 29:26
  I
• 29:26
  still
• 29:27
  am
• 29:29
  curious
• 29:29
  about
• 29:29
  where
• 29:30
  Google
• 29:31
  will
• 29:31
  go
• 29:31
  to
• 29:32
  really
• 29:33
  kind
• 29:34
  of
• 29:34
  take
• 29:34
  control
• 29:35
  or
• 29:36
  be
• 29:36
  the
• 29:36
  winner
• 29:36
  here.
• 29:37
  Because
• 29:37
  I
• 29:37
  just
• 29:37
  think
• 29:37
  that
• 29:37
  the
• 29:38
  big,
• 29:39
  the
• 29:40
  companies
• 29:40
  and
• 29:40
  the
• 29:41
  technology
• 29:42
  that
• 29:42
  consumers
• 29:42
  already
• 29:43
  trust
• 29:44
  are
• 29:44
  just
• 29:44
  positioned
• 29:45
  really
• 29:45
  well.
• 29:46
  I
• 29:46
  think
• 29:46
  right
• 29:46
  to
• 29:46
  win
• 29:47
  is
• 29:47
  actually
• 29:47
  the
• 29:47
  right
• 29:47
  way
• 29:48
  to
• 29:48
  say
• 29:48
  it.
• 29:48
  I
• 29:50
  don't
• 29:51
  know
• 29:51
  for
• 29:51
  sure
• 29:51
  that
• 29:51
  they
• 29:52
  will
• 29:52
  win,
• 29:52
  but
• 29:52
  they
• 29:52
  definitely
• 29:53
  are
• 29:54
  in
• 29:54
  the
• 29:55
  catbirds.
• 29:56
  They
• 29:56
  have
• 29:56
  A
• 29:56
  horse
• 29:56
  in
• 29:57
  a
• 29:57
  race.
• 29:57
  Yeah,
• 29:58
  yeah,
• 29:58
  yeah,
• 29:58
  yeah,
• 29:59
  yeah.
• 29:59
  Or
• 29:59
  a
• 29:59
  car
• 29:59
  in
• 29:59
  the
• 29:59
  Indy
• 30:00
  500,
• 30:00
  since
• 30:00
  you're
• 30:01
  from
• 30:01
  Indianapolis,
• 30:01
  right?
• 30:02
  Yeah,
• 30:02
  yeah.
• 30:03
  Maybe
• 30:03
  they're
• 30:03
  not
• 30:03
  in
• 30:03
  the
• 30:03
  pole
• 30:04
  position.
• 30:04
  They're
• 30:04
  in
• 30:04
  the
• 30:05
  first
• 30:05
  row.
• 30:05
  Okay.
• 30:06
  Okay.
• 30:06
  All
• 30:06
  right.
• 30:06
  That's
• 30:06
  good.
• 30:07
  That's
• 30:07
  good.
• 30:07
  I'm
• 30:07
  glad,
• 30:07
  I'm
• 30:07
  glad,
• 30:08
  I'm
• 30:08
  glad
• 30:08
  I
• 30:08
  asked
• 30:08
  the
• 30:08
  clarification
• 30:09
  because,
• 30:09
  yeah,
• 30:10
  for
• 30:10
  me,
• 30:10
  I
• 30:10
  think,
• 30:10
  you
• 30:11
  know,
• 30:11
  I
• 30:11
  think,
• 30:11
  I
• 30:12
  don't
• 30:12
  disagree
• 30:12
  with
• 30:12
  anything
• 30:13
  you
• 30:13
  said.
• 30:13
  I
• 30:13
  think
• 30:13
  the
• 30:14
  one
• 30:14
  question
• 30:14
  I
• 30:14
  have
• 30:15
  is
• 30:15
  like,
• 30:16
  will
• 30:16
  they
• 30:16
  win
• 30:16
  when
• 30:17
  it
• 30:17
  comes
• 30:17
  to
• 30:18
  commerce,
• 30:18
  our
• 30:19
  traditional
• 30:19
  definitions
• 30:20
  of
• 30:20
  commercial
• 30:20
  commerce,
• 30:21
  I
• 30:21
  think,
• 30:21
  you
• 30:21
  know,
• 30:22
  are
• 30:22
  they
• 30:22
  in
• 30:22
  position
• 30:22
  to
• 30:23
  keep
• 30:23
  their
• 30:23
  search
• 30:23
  traffic
• 30:24
  and
• 30:24
  their
• 30:24
  marketing
• 30:24
  revenue
• 30:25
  100?
• 30:25
  They
• 30:26
  are,
• 30:26
  you
• 30:26
  know,
• 30:26
  they're
• 30:26
  probably
• 30:27
  in
• 30:27
  the
• 30:27
  pole
• 30:27
  position
• 30:27
  for
• 30:28
  that,
• 30:28
  quite
• 30:28
  honestly.
• 30:29
  But,
• 30:29
  but
• 30:29
  becoming
• 30:30
  the
• 30:30
  owner
• 30:31
  of
• 30:31
  the
• 30:31
  shopping
• 30:32
  journey
• 30:32
  in
• 30:32
  a
• 30:32
  fully
• 30:33
  agentic
• 30:33
  world,
• 30:34
  I
• 30:34
  don't
• 30:35
  know.
• 30:35
  Payment
• 30:35
  is
• 30:35
  one
• 30:35
  thing
• 30:36
  which
• 30:36
  we're
• 30:36
  going
• 30:36
  to
• 30:36
  talk
• 30:36
  about
• 30:37
  next,
• 30:37
  which
• 30:37
  I'm,
• 30:37
  I'm
• 30:38
  really
• 30:38
  glad
• 30:38
  we
• 30:38
  are
• 30:39
  because
• 30:39
  it's,
• 30:39
  it's
• 30:39
  really
• 30:39
  interesting
• 30:40
  how
• 30:40
  the
• 30:40
  headlines
• 30:40
  line
• 30:40
  up
• 30:41
  this
• 30:41
  week,
• 30:41
  but
• 30:42
  there
• 30:42
  are
• 30:42
  other,
• 30:42
  you
• 30:43
  know,
• 30:43
  the
• 30:43
  merchant
• 30:44
  in
• 30:44
  me,
• 30:44
  the
• 30:44
  retail
• 30:44
  in
• 30:44
  me
• 30:45
  tells
• 30:45
  me
• 30:45
  there
• 30:45
  are
• 30:45
  other.
• 30:46
  There
• 30:46
  are
• 30:46
  just
• 30:46
  so
• 30:47
  many
• 30:47
  other.
• 30:47
  And
• 30:47
  I'm
• 30:47
  going
• 30:47
  to
• 30:47
  use
• 30:47
  Joey
• 30:48
  Tribbiani
• 30:48
  air
• 30:49
  quotes
• 30:49
  here.
• 30:49
  Customer
• 30:50
  important
• 30:51
  factors
• 30:52
  that
• 30:52
  come
• 30:52
  into
• 30:52
  play
• 30:53
  like
• 30:53
  delivery
• 30:54
  confidence,
• 30:54
  customer
• 30:55
  service,
• 30:55
  return
• 30:56
  policies.
• 30:57
  So
• 30:57
  if
• 30:57
  all
• 30:57
  that
• 30:57
  just
• 30:57
  starts
• 30:58
  happening
• 30:58
  in
• 30:58
  isolation
• 30:59
  via
• 31:00
  these
• 31:00
  platforms,
• 31:01
  how
• 31:02
  are
• 31:02
  we
• 31:02
  as
• 31:02
  consumers
• 31:02
  going
• 31:03
  to
• 31:03
  feel
• 31:03
  about
• 31:03
  that?
• 31:03
  And
• 31:03
  where
• 31:03
  do
• 31:04
  we
• 31:04
  go
• 31:04
  if
• 31:04
  we
• 31:04
  have
• 31:04
  problems?
• 31:05
  Because,
• 31:06
  you
• 31:06
  know,
• 31:07
  Google
• 31:07
  doesn't
• 31:08
  have
• 31:08
  the
• 31:08
  infrastructure
• 31:09
  around
• 31:09
  customer
• 31:10
  service
• 31:10
  set
• 31:10
  up
• 31:11
  in
• 31:11
  the
• 31:11
  same
• 31:11
  way
• 31:11
  in
• 31:11
  Amazon
• 31:12
  or,
• 31:12
  or
• 31:12
  a
• 31:13
  Walmart
• 31:13
  does.
• 31:14
  And
• 31:14
  so
• 31:14
  I
• 31:14
  don't
• 31:15
  know
• 31:15
  where
• 31:15
  the
• 31:15
  retailer
• 31:15
  is
• 31:16
  going
• 31:16
  to
• 31:16
  begin
• 31:16
  and
• 31:16
  where
• 31:17
  the
• 31:17
  com,
• 31:17
  where
• 31:17
  the
• 31:18
  search
• 31:18
  engines
• 31:18
  are
• 31:19
  going
• 31:19
  to
• 31:19
  end
• 31:20
  or
• 31:20
  begin
• 31:21
  or
• 31:21
  end,
• 31:21
  whatever.
• 31:21
  I'm
• 31:21
  even
• 31:22
  getting
• 31:22
  confused
• 31:22
  as
• 31:22
  I'm
• 31:22
  talking
• 31:23
  about
• 31:23
  it,
• 31:23
  Laura,
• 31:23
  But
• 31:24
  I
• 31:24
  think
• 31:24
  there's
• 31:25
  more
• 31:25
  to
• 31:25
  it
• 31:25
  here.
• 31:26
  And
• 31:26
  I
• 31:26
  go
• 31:26
  back
• 31:26
  to
• 31:27
  historically,
• 31:27
  like,
• 31:28
  you
• 31:28
  know,
• 31:29
  if
• 31:29
  Google
• 31:29
  was
• 31:30
  positioned
• 31:30
  for
• 31:30
  this,
• 31:30
  why
• 31:31
  weren't
• 31:31
  we
• 31:31
  just
• 31:31
  checking
• 31:32
  out
• 31:32
  with
• 31:32
  Google
• 31:32
  Pay
• 31:33
  in
• 31:33
  the
• 31:33
  marketplace
• 31:34
  to
• 31:34
  begin
• 31:34
  with?
• 31:35
  Yeah.
• 31:36
  You
• 31:36
  know,
• 31:36
  now
• 31:36
  they're
• 31:37
  doing
• 31:37
  a
• 31:37
  lot
• 31:37
  of
• 31:37
  cool
• 31:37
  things
• 31:37
  like
• 31:38
  universal
• 31:38
  cart
• 31:38
  that
• 31:38
  got
• 31:38
  announced
• 31:39
  yesterday
• 31:39
  and
• 31:39
  all
• 31:39
  that
• 31:40
  kind
• 31:40
  of
• 31:40
  stuff.
• 31:40
  But,
• 31:41
  but
• 31:41
  that's
• 31:41
  how
• 31:41
  I'm,
• 31:43
  I
• 31:43
  think
• 31:43
  there's
• 31:43
  more
• 31:44
  factors
• 31:44
  at
• 31:44
  play
• 31:44
  here
• 31:45
  than
• 31:45
  we're
• 31:45
  actually
• 31:45
  talking
• 31:46
  about
• 31:46
  routinely
• 31:47
  as
• 31:47
  an
• 31:47
  industry,
• 31:47
  at
• 31:48
  least
• 31:48
  that
• 31:48
  I'm
• 31:48
  seeing
• 31:48
  get
• 31:49
  talked
• 31:49
  about
• 31:49
  routinely.
• 31:50
  Well,
• 31:50
  and
• 31:50
  I
• 31:50
  think
• 31:51
  the,
• 31:51
  the,
• 31:52
  the
• 31:52
  factors
• 31:53
  that
• 31:53
  you're
• 31:53
  bringing
• 31:53
  up
• 31:54
  are
• 31:54
  not
• 31:54
  just
• 31:54
  Google
• 31:55
  issues.
• 31:55
  They
• 31:55
  are
• 31:56
  issues
• 31:56
  with
• 31:57
  there
• 31:57
  being
• 31:57
  a
• 31:58
  platform
• 31:58
  where
• 31:58
  we
• 31:58
  do
• 31:59
  all
• 31:59
  of
• 31:59
  our
• 32:00
  shopping
• 32:00
  that's
• 32:00
  not
• 32:00
  a
• 32:01
  retailer.
• 32:03
  That's
• 32:03
  not
• 32:03
  just
• 32:03
  a
• 32:04
  Google
• 32:04
  issue.
• 32:04
  That's
• 32:04
  just
• 32:05
  like
• 32:05
  overall
• 32:07
  almost
• 32:07
  philosophical,
• 32:08
  like,
• 32:09
  could
• 32:09
  this
• 32:09
  ever
• 32:10
  happen?
• 32:10
  Because
• 32:10
  this
• 32:11
  is
• 32:11
  the
• 32:11
  way
• 32:11
  we
• 32:11
  shop.
• 32:11
  And,
• 32:12
  you
• 32:12
  know,
• 32:12
  we've
• 32:12
  seen
• 32:12
  many,
• 32:13
  many
• 32:13
  times
• 32:13
  in
• 32:14
  history
• 32:14
  and
• 32:15
  even
• 32:15
  in
• 32:15
  our
• 32:16
  relatively
• 32:16
  short
• 32:16
  careers
• 32:17
  that
• 32:17
  they
• 32:17
  change
• 32:18
  and
• 32:18
  they
• 32:18
  just
• 32:18
  do
• 32:18
  a
• 32:19
  new
• 32:19
  thing.
• 32:19
  So
• 32:21
  I
• 32:22
  think
• 32:22
  the
• 32:23
  thing
• 32:23
  with
• 32:23
  Google,
• 32:23
  I
• 32:23
  mean,
• 32:24
  you
• 32:24
  mentioned
• 32:24
  about
• 32:24
  customer
• 32:25
  service
• 32:25
  and,
• 32:25
  and
• 32:26
  all
• 32:26
  that.
• 32:26
  I
• 32:26
  think
• 32:26
  that's
• 32:27
  where,
• 32:27
  you
• 32:27
  know,
• 32:28
  the
• 32:28
  payment
• 32:29
  term
• 32:29
  for
• 32:29
  it
• 32:29
  is,
• 32:29
  you
• 32:29
  know,
• 32:29
  merchant
• 32:30
  of
• 32:30
  record
• 32:30
  and
• 32:31
  like,
• 32:31
  who
• 32:31
  owns
• 32:31
  the
• 32:32
  payment
• 32:32
  and
• 32:32
  all
• 32:32
  that
• 32:33
  kind
• 32:33
  of
• 32:33
  nitty
• 32:33
  gritty
• 32:34
  stuff.
• 32:35
  But
• 32:35
  I
• 32:35
  think
• 32:35
  that
• 32:36
  customer
• 32:36
  service
• 32:36
  tells
• 32:37
  is
• 32:37
  maybe
• 32:38
  subconsciously
• 32:39
  why
• 32:40
  people
• 32:40
  prefer
• 32:41
  not
• 32:41
  to
• 32:41
  do
• 32:42
  their
• 32:42
  checkout
• 32:42
  in
• 32:42
  ChatGPT.
• 32:43
  That
• 32:43
  might
• 32:43
  be
• 32:44
  one
• 32:44
  reason
• 32:45
  they
• 32:45
  said,
• 32:45
  I
• 32:46
  don't
• 32:46
  really
• 32:46
  understand
• 32:46
  what's
• 32:47
  happening
• 32:47
  here.
• 32:48
  The
• 32:48
  other
• 32:49
  thing
• 32:49
  Google
• 32:49
  sees,
• 32:50
  I
• 32:51
  have
• 32:51
  a
• 32:51
  Gmail
• 32:51
  address.
• 32:52
  It
• 32:52
  knows
• 32:53
  everywhere
• 32:54
  I
• 32:54
  already
• 32:54
  shop
• 32:55
  the
• 32:55
  things
• 32:56
  I
• 32:56
  have
• 32:56
  bought,
• 32:57
  whether
• 32:57
  I
• 32:57
  like
• 32:57
  it
• 32:58
  or
• 32:58
  not.
• 32:59
  I
• 32:59
  mentioned
• 33:00
  the
• 33:00
  wallet
• 33:00
  as
• 33:00
  this
• 33:01
  very
• 33:01
  technical
• 33:01
  piece,
• 33:02
  but
• 33:02
  that
• 33:03
  ability
• 33:03
  to
• 33:03
  see
• 33:04
  across,
• 33:04
  I
• 33:04
  think
• 33:04
  matters
• 33:05
  a
• 33:05
  lot
• 33:05
  for
• 33:05
  Google
• 33:06
  and
• 33:08
  a
• 33:08
  truly
• 33:08
  agentic
• 33:09
  world,
• 33:09
  which
• 33:10
  increasingly,
• 33:11
  I'm
• 33:11
  not
• 33:11
  positive
• 33:12
  we're
• 33:12
  going
• 33:12
  to
• 33:12
  go
• 33:13
  the
• 33:13
  way
• 33:13
  that
• 33:13
  we
• 33:13
  thought
• 33:13
  we
• 33:13
  were.
• 33:14
  But
• 33:16
  that's
• 33:16
  another
• 33:17
  discussion
• 33:17
  too.
• 33:18
  Yeah.
• 33:19
  And
• 33:19
  it
• 33:19
  comes
• 33:19
  back
• 33:19
  to
• 33:19
  what
• 33:19
  we
• 33:19
  talked
• 33:20
  about
• 33:20
  last
• 33:20
  week
• 33:20
  with
• 33:20
  Amazon.
• 33:24
  Google
• 33:24
  gets
• 33:24
  a
• 33:24
  lot
• 33:25
  of
• 33:25
  search
• 33:25
  traffic,
• 33:25
  but
• 33:25
  Amazon
• 33:26
  gets
• 33:27
  product
• 33:27
  search
• 33:27
  traffic,
• 33:28
  you
• 33:28
  know,
• 33:28
  and
• 33:28
  will
• 33:28
  it
• 33:29
  keep
• 33:29
  its
• 33:29
  hold
• 33:29
  on
• 33:29
  that
• 33:30
  or
• 33:30
  will
• 33:30
  it
• 33:30
  grow
• 33:30
  that
• 33:31
  with
• 33:31
  its
• 33:31
  announcements
• 33:31
  that
• 33:32
  it
• 33:32
  made,
• 33:32
  you
• 33:32
  know,
• 33:32
  with
• 33:32
  Alexa
• 33:33
  and,
• 33:33
  you
• 33:33
  know,
• 33:33
  Rufus
• 33:34
  and
• 33:34
  everything
• 33:34
  else
• 33:35
  it's
• 33:35
  doing,
• 33:35
  you
• 33:36
  know,
• 33:36
  time
• 33:36
  will
• 33:37
  tell
• 33:37
  and,
• 33:37
  you
• 33:37
  know,
• 33:37
  because
• 33:37
  it
• 33:38
  does
• 33:38
  have,
• 33:38
  it
• 33:38
  does
• 33:39
  bring
• 33:39
  those
• 33:39
  things
• 33:39
  to
• 33:39
  the
• 33:40
  table
• 33:41
  in
• 33:41
  a
• 33:41
  way
• 33:41
  that
• 33:41
  the
• 33:42
  LLMs
• 33:42
  just
• 33:43
  simply
• 33:43
  do
• 33:43
  not.
• 33:43
  And
• 33:44
  Walmart
• 33:44
  potentially
• 33:44
  has
• 33:45
  that
• 33:45
  ability
• 33:45
  too,
• 33:45
  especially
• 33:46
  the
• 33:46
  size
• 33:46
  of
• 33:47
  their
• 33:47
  marketplaces.
• 33:47
  So.
• 33:47
  Right,
• 33:48
  yeah,
• 33:48
  fascinating
• 33:48
  discussion.
• 33:49
  All
• 33:49
  right,
• 33:49
  let's
• 33:49
  get
• 33:49
  into
• 33:49
  payments.
• 33:50
  Laura.
• 33:51
  All
• 33:51
  right,
• 33:52
  headline
• 33:52
  number
• 33:52
  four,
• 33:53
  which
• 33:53
  you
• 33:53
  probably
• 33:54
  now
• 33:54
  already
• 33:54
  know
• 33:54
  what
• 33:54
  the
• 33:55
  headline
• 33:55
  is
• 33:55
  because
• 33:55
  we
• 33:56
  talked
• 33:56
  about
• 33:56
  it,
• 33:56
  is
• 33:57
  brought
• 33:57
  to
• 33:57
  you
• 33:57
  by
• 33:57
  Ocampo
• 33:58
  Capital.
• 33:58
  Ocampo
• 33:59
  Capital
• 33:59
  is
• 34:00
  a
• 34:00
  venture
• 34:00
  capital
• 34:01
  firm
• 34:01
  founded
• 34:01
  by
• 34:02
  retail
• 34:02
  executives
• 34:03
  with
• 34:03
  the
• 34:03
  aim
• 34:03
  of
• 34:03
  helping
• 34:04
  early
• 34:04
  stage
• 34:05
  consumer
• 34:05
  businesses
• 34:05
  succeed
• 34:06
  through
• 34:06
  investment
• 34:07
  and
• 34:07
  operational
• 34:08
  support.
• 34:08
  Learn
• 34:09
  more@ocampocapital.com
• 34:11
  Our
• 34:12
  headline,
• 34:12
  our
• 34:12
  fourth
• 34:13
  headline,
• 34:13
  is
• 34:13
  that
• 34:13
  Klarna
• 34:15
  has
• 34:15
  launched
• 34:15
  a
• 34:15
  new
• 34:15
  shopping
• 34:16
  search
• 34:16
  app
• 34:17
  directly
• 34:17
  inside
• 34:17
  ChatGPT,
• 34:18
  allowing
• 34:19
  consumers
• 34:19
  to
• 34:20
  search
• 34:20
  for
• 34:20
  products,
• 34:20
  compare
• 34:21
  prices,
• 34:22
  check
• 34:22
  availability
• 34:23
  and
• 34:23
  view
• 34:23
  offers
• 34:24
  from
• 34:24
  multiple
• 34:25
  retailers,
• 34:25
  all
• 34:26
  without
• 34:26
  ever
• 34:27
  leaving
• 34:27
  the
• 34:27
  AI
• 34:28
  chat
• 34:28
  interface.
• 34:29
  According
• 34:30
  to
• 34:30
  payments,
• 34:31
  Klarna
• 34:32
  announced
• 34:32
  the
• 34:32
  launch
• 34:32
  of
• 34:32
  its
• 34:33
  shopping
• 34:33
  search
• 34:33
  app
• 34:34
  in
• 34:34
  ChatGPT
• 34:35
  on
• 34:35
  May
• 34:35
  20
• 34:36
  last
• 34:36
  week.
• 34:36
  Shoppers
• 34:37
  can
• 34:37
  describe
• 34:37
  what
• 34:38
  they
• 34:38
  want
• 34:38
  in
• 34:38
  natural
• 34:39
  language,
• 34:39
  receive
• 34:40
  Visual
• 34:40
  product
• 34:40
  results
• 34:41
  with
• 34:41
  real
• 34:41
  time
• 34:41
  prices
• 34:42
  and
• 34:42
  availability
• 34:42
  from
• 34:43
  participating
• 34:43
  merchants
• 34:44
  and
• 34:44
  then
• 34:45
  be
• 34:45
  redirected
• 34:45
  to
• 34:46
  the
• 34:46
  merchant
• 34:46
  site
• 34:46
  to
• 34:47
  complete
• 34:47
  the
• 34:47
  purchase.
• 34:48
  The
• 34:49
  app
• 34:49
  is
• 34:49
  powered
• 34:49
  by
• 34:49
  klarna's
• 34:50
  product
• 34:50
  search
• 34:51
  MCP
• 34:52
  server,
• 34:52
  a
• 34:53
  model
• 34:53
  context
• 34:53
  protocol
• 34:54
  server
• 34:54
  which
• 34:55
  connects
• 34:55
  ChatGPT
• 34:56
  directly
• 34:57
  to
• 34:57
  Klarna's
• 34:57
  commerce
• 34:58
  data.
• 34:58
  That
• 34:59
  network
• 34:59
  includes
• 35:00
  more
• 35:00
  than
• 35:00
  100
• 35:00
  million
• 35:01
  products
• 35:01
  and
• 35:02
  400
• 35:02
  million
• 35:03
  merchant
• 35:03
  listings
• 35:04
  across
• 35:04
  13
• 35:05
  markets.
• 35:06
  Chris,
• 35:06
  how
• 35:07
  significant
• 35:07
  is
• 35:07
  it
• 35:07
  that
• 35:08
  Klarna
• 35:08
  is
• 35:08
  putting
• 35:08
  its
• 35:09
  app
• 35:09
  into
• 35:09
  ChatGPT
• 35:10
  and
• 35:11
  is
• 35:11
  this
• 35:11
  just
• 35:11
  another
• 35:12
  expected
• 35:12
  generative
• 35:13
  AI
• 35:13
  experience
• 35:14
  experiment?
• 35:15
  Oh,
• 35:15
  man.
• 35:16
  Yeah.
• 35:16
  Was
• 35:16
  it
• 35:16
  just
• 35:16
  another
• 35:17
  expected
• 35:17
  generative
• 35:18
  AI
• 35:18
  experiment?
• 35:20
  I
• 35:20
  actually
• 35:20
  think
• 35:20
  this
• 35:20
  moves
• 35:21
  really
• 35:21
  interesting
• 35:21
  and
• 35:22
  I'm
• 35:22
  not
• 35:22
  surprised
• 35:23
  that
• 35:23
  I
• 35:23
  think
• 35:23
  that
• 35:24
  given
• 35:24
  the
• 35:24
  conversation
• 35:24
  that
• 35:25
  you
• 35:25
  and
• 35:25
  I
• 35:25
  just
• 35:25
  had
• 35:26
  about
• 35:26
  what
• 35:26
  Google
• 35:27
  did
• 35:27
  last
• 35:27
  week
• 35:29
  and
• 35:29
  the
• 35:29
  reason
• 35:29
  I
• 35:29
  say
• 35:30
  that.
• 35:30
  So
• 35:30
  I
• 35:30
  interviewed
• 35:31
  Ferhan
• 35:31
  Khan
• 35:32
  for
• 35:33
  my
• 35:33
  Investor
• 35:33
  Perspectives
• 35:34
  in
• 35:34
  Retail
• 35:34
  and
• 35:34
  the
• 35:34
  Consumer
• 35:35
  podcast.
• 35:35
  It's
• 35:35
  coming
• 35:36
  out
• 35:36
  next
• 35:36
  week
• 35:37
  and
• 35:38
  he's
• 35:38
  from
• 35:38
  ubs.
• 35:39
  He's
• 35:39
  a
• 35:39
  managing
• 35:40
  director
• 35:40
  at
• 35:40
  ubs
• 35:40
  and
• 35:41
  his
• 35:41
  job
• 35:41
  is
• 35:41
  to
• 35:42
  evaluate
• 35:43
  which
• 35:43
  tech
• 35:44
  he
• 35:44
  thinks
• 35:44
  he
• 35:44
  wants
• 35:44
  to
• 35:45
  bet
• 35:45
  on
• 35:45
  for
• 35:45
  the
• 35:45
  long
• 35:45
  run.
• 35:46
  And
• 35:46
  he
• 35:46
  brought
• 35:46
  up,
• 35:47
  he
• 35:47
  brought
• 35:47
  up
• 35:47
  two
• 35:48
  points
• 35:48
  that
• 35:48
  I
• 35:48
  think
• 35:49
  were
• 35:49
  really
• 35:49
  interesting
• 35:49
  in
• 35:49
  that
• 35:49
  podcast
• 35:50
  and
• 35:50
  I
• 35:50
  encourage
• 35:50
  everyone
• 35:50
  to
• 35:51
  listen
• 35:51
  to
• 35:51
  it
• 35:51
  when
• 35:51
  we
• 35:51
  release
• 35:51
  it.
• 35:52
  He
• 35:52
  said,
• 35:52
  like,
• 35:52
  some
• 35:53
  of
• 35:53
  the
• 35:53
  advantages
• 35:53
  he
• 35:53
  looks
• 35:54
  for
• 35:54
  are
• 35:54
  scale
• 35:55
  and
• 35:55
  also
• 35:56
  like
• 35:56
  moats
• 35:56
  and
• 35:57
  the
• 35:57
  moat
• 35:57
  being
• 35:58
  payments.
• 35:58
  And
• 35:58
  so,
• 35:58
  for
• 35:59
  example,
• 35:59
  if
• 35:59
  I
• 35:59
  know
• 36:00
  my
• 36:00
  payment
• 36:00
  data
• 36:01
  can
• 36:02
  allow
• 36:02
  me
• 36:02
  to
• 36:02
  transact
• 36:03
  quickly
• 36:03
  via
• 36:04
  Klarna
• 36:05
  and
• 36:05
  that
• 36:05
  I
• 36:05
  want
• 36:05
  to
• 36:06
  pay
• 36:06
  via
• 36:06
  Klarna,
• 36:07
  that
• 36:08
  in
• 36:08
  and
• 36:08
  of
• 36:08
  itself
• 36:09
  could
• 36:09
  be
• 36:09
  a
• 36:09
  calculated
• 36:10
  step
• 36:10
  in
• 36:10
  my
• 36:11
  LLM
• 36:11
  discovery
• 36:12
  process.
• 36:12
  And
• 36:12
  so
• 36:13
  Klarna,
• 36:14
  you
• 36:15
  know,
• 36:15
  is
• 36:15
  highlighting
• 36:15
  a
• 36:15
  marketplace
• 36:16
  of
• 36:16
  goods
• 36:17
  that
• 36:17
  are
• 36:17
  available.
• 36:17
  It
• 36:17
  gives
• 36:18
  you
• 36:18
  great
• 36:18
  pricing
• 36:18
  data
• 36:19
  across
• 36:19
  all
• 36:19
  the
• 36:19
  retailers
• 36:20
  it
• 36:20
  works
• 36:20
  with.
• 36:21
  So
• 36:21
  I
• 36:21
  don't
• 36:21
  know,
• 36:22
  Laura,
• 36:22
  that's
• 36:22
  a
• 36:22
  pretty
• 36:23
  compelling
• 36:24
  funneling
• 36:25
  point
• 36:25
  for
• 36:26
  me,
• 36:26
  which
• 36:26
  is
• 36:27
  why
• 36:27
  I,
• 36:27
  like,
• 36:27
  I've
• 36:28
  been
• 36:28
  very
• 36:28
  down
• 36:28
  on,
• 36:29
  on
• 36:29
  in
• 36:30
  app
• 36:30
  experiments,
• 36:31
  in
• 36:31
  LLMs
• 36:31
  on
• 36:31
  this
• 36:32
  show,
• 36:32
  but
• 36:32
  for
• 36:32
  this
• 36:33
  one,
• 36:33
  I'm,
• 36:33
  I'm
• 36:34
  kind
• 36:34
  of
• 36:34
  feeling
• 36:34
  a
• 36:34
  little
• 36:35
  bit
• 36:35
  different
• 36:35
  about
• 36:35
  it
• 36:36
  for
• 36:36
  that
• 36:36
  reason
• 36:36
  because,
• 36:37
  like,
• 36:37
  I
• 36:37
  could
• 36:37
  see
• 36:37
  like
• 36:38
  a,
• 36:38
  you
• 36:38
  know,
• 36:38
  some
• 36:38
  of
• 36:39
  the
• 36:39
  likes
• 36:40
  to
• 36:40
  pay
• 36:40
  on
• 36:40
  installments
• 36:41
  or,
• 36:41
  you
• 36:42
  know,
• 36:42
  installment
• 36:42
  financing.
• 36:43
  Like,
• 36:43
  yeah,
• 36:43
  show
• 36:44
  me
• 36:44
  everything
• 36:44
  that's
• 36:44
  available
• 36:45
  and
• 36:45
  let's
• 36:45
  make
• 36:45
  this
• 36:46
  work
• 36:46
  and
• 36:46
  give
• 36:46
  me
• 36:46
  the
• 36:46
  best
• 36:47
  for
• 36:47
  my
• 36:47
  budget.
• 36:48
  I,
• 36:48
  I
• 36:48
  think
• 36:48
  that's
• 36:49
  pretty
• 36:49
  compelling,
• 36:50
  especially
• 36:50
  if
• 36:50
  Klarna's
• 36:51
  marketplace
• 36:51
  is
• 36:52
  big
• 36:52
  enough
• 36:52
  and
• 36:52
  wide
• 36:52
  enough,
• 36:53
  which
• 36:53
  it
• 36:54
  might
• 36:54
  just
• 36:54
  be.
• 36:55
  And
• 36:55
  they
• 36:55
  are
• 36:56
  super
• 36:56
  smart
• 36:56
  at
• 36:57
  Klarna.
• 36:58
  Yeah,
• 36:58
  yeah.
• 36:59
  I
• 36:59
  mean,
• 36:59
  I
• 36:59
  think
• 37:01
  this
• 37:02
  gets
• 37:02
  ultimately
• 37:02
  to,
• 37:03
  you
• 37:03
  know,
• 37:03
  exactly
• 37:03
  what
• 37:03
  we
• 37:03
  were
• 37:04
  talking
• 37:04
  about,
• 37:04
  about
• 37:04
  the
• 37:04
  importance
• 37:05
  of
• 37:06
  Payments
• 37:06
  and
• 37:07
  you
• 37:07
  know,
• 37:07
  the
• 37:07
  fact
• 37:07
  that
• 37:08
  our
• 37:08
  payment
• 37:09
  systems
• 37:09
  were
• 37:09
  built
• 37:10
  to
• 37:10
  keep
• 37:10
  robots
• 37:11
  out
• 37:11
  and
• 37:12
  now
• 37:12
  we're
• 37:12
  trying
• 37:13
  to
• 37:13
  reintroduce
• 37:13
  them.
• 37:14
  And
• 37:15
  so
• 37:15
  the
• 37:16
  big
• 37:16
  recognizable
• 37:18
  payments
• 37:19
  related
• 37:19
  companies
• 37:20
  with
• 37:20
  consumer
• 37:21
  trust
• 37:21
  I
• 37:22
  think
• 37:22
  are
• 37:22
  really
• 37:23
  well
• 37:23
  positioned.
• 37:24
  And
• 37:24
  you
• 37:24
  know,
• 37:24
  I
• 37:25
  think
• 37:25
  Klarna
• 37:26
  is
• 37:26
  increasingly
• 37:27
  one
• 37:27
  of
• 37:27
  those.
• 37:28
  And
• 37:29
  you
• 37:29
  know,
• 37:29
  to
• 37:29
  your
• 37:30
  point
• 37:30
  about
• 37:31
  having
• 37:32
  the
• 37:32
  new,
• 37:32
  new
• 37:33
  technology
• 37:33
  solutions
• 37:34
  and
• 37:34
  then
• 37:34
  moats,
• 37:35
  Klarna
• 37:35
  was,
• 37:36
  has
• 37:36
  been
• 37:36
  out
• 37:36
  there
• 37:36
  trying
• 37:37
  to
• 37:37
  build
• 37:37
  a
• 37:38
  platform,
• 37:38
  you
• 37:39
  know,
• 37:39
  and
• 37:40
  kind
• 37:40
  of
• 37:40
  we've
• 37:41
  seen
• 37:41
  a
• 37:41
  lot
• 37:41
  of
• 37:41
  the
• 37:41
  payments
• 37:42
  companies
• 37:42
  you
• 37:42
  had
• 37:42
  Klarna,
• 37:43
  I
• 37:43
  think
• 37:43
  both
• 37:43
  Visa,
• 37:44
  definitely
• 37:44
  Visa
• 37:45
  and
• 37:45
  MasterCard
• 37:46
  maybe
• 37:46
  have
• 37:46
  thought
• 37:46
  about,
• 37:46
  you
• 37:46
  know,
• 37:47
  what,
• 37:47
  what
• 37:47
  does
• 37:47
  media
• 37:48
  look
• 37:48
  like
• 37:48
  as
• 37:48
  part
• 37:48
  of
• 37:49
  their
• 37:49
  solution
• 37:49
  if
• 37:50
  not
• 37:50
  it,
• 37:50
  you
• 37:50
  know,
• 37:51
  seems
• 37:51
  like
• 37:51
  a
• 37:51
  good
• 37:51
  idea
• 37:51
  because
• 37:52
  to
• 37:52
  your
• 37:52
  point,
• 37:52
  they
• 37:52
  have
• 37:52
  all
• 37:53
  this
• 37:53
  data
• 37:53
  on
• 37:53
  how
• 37:54
  people
• 37:54
  are
• 37:54
  spending
• 37:54
  money.
• 37:56
  You
• 37:56
  know,
• 37:56
  I,
• 37:57
  I
• 37:57
  think
• 37:57
  the
• 37:58
  question
• 37:58
  that
• 37:58
  I
• 37:58
  just
• 37:58
  keep
• 37:59
  asking,
• 37:59
  once
• 38:00
  you're
• 38:00
  over
• 38:00
  the
• 38:00
  hurdle
• 38:01
  of
• 38:01
  the
• 38:01
  app
• 38:01
  within
• 38:02
  the
• 38:02
  LLM,
• 38:02
  which
• 38:03
  I
• 38:03
  will
• 38:03
  admit
• 38:03
  I
• 38:03
  still
• 38:04
  am
• 38:04
  skeptical
• 38:05
  about
• 38:06
  100%,
• 38:07
  it's
• 38:07
  still,
• 38:08
  you
• 38:08
  know,
• 38:08
  which
• 38:08
  entity
• 38:09
  do
• 38:09
  consumers
• 38:10
  want
• 38:10
  to
• 38:10
  hand
• 38:10
  their
• 38:11
  payment
• 38:11
  authority
• 38:11
  to?
• 38:13
  Klarna
• 38:13
  has
• 38:14
  scale
• 38:14
  both
• 38:14
  with
• 38:15
  the
• 38:15
  merchants
• 38:15
  and
• 38:16
  the
• 38:16
  consumers.
• 38:18
  It
• 38:19
  makes
• 38:19
  me
• 38:19
  wonder
• 38:19
  if
• 38:19
  it
• 38:20
  is
• 38:20
  the
• 38:20
  wallet
• 38:20
  that
• 38:20
  consumers
• 38:21
  point
• 38:21
  their
• 38:21
  agents
• 38:21
  at.
• 38:22
  You
• 38:22
  know,
• 38:22
  we
• 38:22
  still
• 38:23
  see
• 38:23
  a
• 38:23
  lot
• 38:23
  of
• 38:23
  strength
• 38:24
  for
• 38:24
  buy
• 38:24
  now,
• 38:24
  pay
• 38:24
  later,
• 38:26
  whether,
• 38:26
  you
• 38:26
  know,
• 38:26
  consumer
• 38:27
  advocates
• 38:27
  be
• 38:28
  damned.
• 38:28
  It's
• 38:28
  still
• 38:29
  not
• 38:29
  great,
• 38:29
  but
• 38:30
  they
• 38:30
  still
• 38:30
  keep
• 38:30
  using
• 38:31
  it.
• 38:32
  And
• 38:32
  so
• 38:33
  does
• 38:33
  it
• 38:33
  point
• 38:34
  toward
• 38:34
  a
• 38:34
  future
• 38:34
  then
• 38:35
  of
• 38:35
  where
• 38:35
  there's
• 38:36
  a
• 38:36
  few
• 38:36
  competing
• 38:37
  wallets?
• 38:38
  You
• 38:38
  know,
• 38:38
  there's
• 38:38
  Google,
• 38:39
  there's
• 38:39
  Apple
• 38:39
  pay,
• 38:40
  there's
• 38:40
  Klarna.
• 38:42
  And
• 38:42
  then
• 38:42
  who,
• 38:42
  which
• 38:43
  one
• 38:43
  is
• 38:43
  your
• 38:43
  default?
• 38:45
  You
• 38:45
  know,
• 38:45
  whether
• 38:45
  we
• 38:45
  get
• 38:46
  into
• 38:46
  agents
• 38:46
  or
• 38:47
  it's
• 38:47
  just
• 38:48
  humans
• 38:48
  transacting
• 38:49
  on
• 38:49
  LLMs,
• 38:51
  whatever
• 38:51
  your
• 38:51
  default
• 38:52
  is,
• 38:52
  you
• 38:52
  know,
• 38:52
  matters
• 38:53
  a
• 38:53
  lot.
• 38:55
  And
• 38:55
  so,
• 38:55
  you
• 38:55
  know,
• 38:55
  I,
• 38:56
  this
• 38:57
  leads
• 38:57
  to
• 38:57
  a
• 38:57
  tangent
• 38:57
  of,
• 38:58
  I
• 38:58
  don't,
• 38:58
  I
• 38:58
  still
• 38:58
  don't
• 38:58
  know
• 38:59
  where
• 38:59
  Apple's
• 38:59
  going
• 38:59
  to
• 39:00
  land
• 39:00
  in
• 39:00
  this.
• 39:00
  To
• 39:01
  me,
• 39:01
  they
• 39:01
  were
• 39:01
  in
• 39:02
  the
• 39:02
  first
• 39:02
  or
• 39:02
  second
• 39:02
  row
• 39:03
  and,
• 39:03
  and
• 39:03
  to
• 39:04
  keep
• 39:04
  our
• 39:04
  metaphor
• 39:04
  going
• 39:05
  because
• 39:05
  they,
• 39:06
  they
• 39:06
  can
• 39:06
  see
• 39:06
  across
• 39:07
  our
• 39:07
  phones.
• 39:08
  Wouldn't
• 39:08
  it
• 39:08
  be
• 39:08
  great
• 39:08
  if
• 39:08
  you
• 39:09
  had
• 39:09
  an
• 39:09
  agent?
• 39:09
  They
• 39:09
  could
• 39:10
  see
• 39:10
  everything
• 39:10
  I
• 39:10
  was
• 39:10
  doing.
• 39:12
  But
• 39:12
  you
• 39:13
  know,
• 39:13
  we're,
• 39:13
  we're
• 39:13
  not
• 39:14
  doing
• 39:14
  that
• 39:15
  with
• 39:15
  Apple.
• 39:15
  It
• 39:15
  seems
• 39:16
  that
• 39:16
  the
• 39:16
  focus
• 39:17
  seems
• 39:17
  to
• 39:17
  be
• 39:17
  on
• 39:17
  the
• 39:17
  hardware.
• 39:18
  So,
• 39:19
  but
• 39:19
  back
• 39:20
  from
• 39:20
  that,
• 39:21
  that
• 39:21
  tangent,
• 39:23
  it
• 39:23
  does
• 39:23
  seem
• 39:24
  like
• 39:24
  Klarna
• 39:24
  is
• 39:25
  fitting
• 39:25
  itself,
• 39:26
  trying
• 39:26
  to
• 39:26
  fit
• 39:26
  itself
• 39:27
  into
• 39:27
  that
• 39:27
  conversation
• 39:28
  about
• 39:30
  how
• 39:30
  payments
• 39:31
  work
• 39:31
  on
• 39:32
  these
• 39:32
  platforms.
• 39:33
  Yeah,
• 39:34
  that's
• 39:34
  why
• 39:34
  I
• 39:34
  love
• 39:34
  doing
• 39:35
  this
• 39:35
  show
• 39:35
  because
• 39:35
  you
• 39:35
  got
• 39:35
  me
• 39:36
  rethinking
• 39:36
  and
• 39:36
  playing
• 39:37
  devil's
• 39:37
  advocate
• 39:38
  on
• 39:38
  my
• 39:38
  own
• 39:38
  opinion
• 39:39
  too,
• 39:39
  Laura,
• 39:40
  because
• 39:40
  a
• 39:40
  part
• 39:40
  of
• 39:40
  me
• 39:40
  Is
• 39:41
  like,
• 39:41
  well,
• 39:42
  if
• 39:42
  people
• 39:42
  wanted
• 39:42
  to
• 39:42
  do
• 39:42
  this
• 39:43
  with
• 39:43
  Karna,
• 39:43
  why
• 39:43
  wouldn't
• 39:44
  they
• 39:44
  just
• 39:44
  do
• 39:44
  it
• 39:44
  in
• 39:44
  the
• 39:44
  Karna
• 39:45
  app
• 39:45
  already?
• 39:46
  Like,
• 39:47
  you
• 39:47
  know,
• 39:47
  why
• 39:47
  can't
• 39:48
  I
• 39:48
  just
• 39:48
  serve
• 39:48
  this
• 39:48
  if
• 39:48
  I'm
• 39:48
  Karna,
• 39:49
  can
• 39:49
  I
• 39:49
  just
• 39:49
  serve
• 39:49
  this
• 39:49
  up
• 39:50
  easier
• 39:50
  for
• 39:50
  them?
• 39:50
  And
• 39:51
  if
• 39:51
  I
• 39:51
  leave
• 39:51
  the
• 39:52
  consumer
• 39:52
  proclivity
• 39:53
  is
• 39:53
  there,
• 39:54
  why
• 39:54
  aren't
• 39:54
  I
• 39:54
  just
• 39:55
  doing
• 39:55
  this
• 39:55
  already?
• 39:56
  And
• 39:56
  so
• 39:56
  that's,
• 39:58
  that's.
• 39:58
  And
• 39:59
  that
• 39:59
  I
• 39:59
  think
• 39:59
  goes
• 39:59
  back
• 39:59
  to
• 40:00
  what
• 40:00
  we
• 40:00
  don't
• 40:00
  know.
• 40:00
  We
• 40:01
  don't
• 40:01
  know
• 40:01
  all
• 40:01
  the
• 40:01
  psychological
• 40:02
  reasons
• 40:03
  necessarily
• 40:04
  about
• 40:04
  why
• 40:04
  we
• 40:04
  choose
• 40:05
  to
• 40:05
  engage
• 40:06
  and
• 40:06
  actually
• 40:07
  consume
• 40:07
  products
• 40:08
  from
• 40:08
  the
• 40:08
  places
• 40:08
  we
• 40:09
  consume
• 40:09
  them
• 40:09
  from.
• 40:10
  You
• 40:11
  know,
• 40:11
  which,
• 40:11
  you
• 40:12
  know,
• 40:12
  which
• 40:12
  is
• 40:12
  just
• 40:13
  something
• 40:13
  I'm
• 40:13
  going
• 40:13
  to
• 40:13
  start,
• 40:14
  I
• 40:14
  think
• 40:14
  my
• 40:14
  big
• 40:14
  takeaway
• 40:15
  from
• 40:15
  this
• 40:15
  podcast
• 40:16
  as
• 40:16
  far
• 40:16
  as
• 40:16
  I'm
• 40:16
  going
• 40:16
  to
• 40:17
  start
• 40:17
  thinking
• 40:17
  more
• 40:17
  about
• 40:17
  that
• 40:18
  because,
• 40:18
  yeah,
• 40:19
  like,
• 40:19
  why
• 40:19
  isn't
• 40:19
  this
• 40:20
  already
• 40:20
  happening
• 40:20
  if
• 40:20
  people
• 40:21
  want
• 40:21
  to
• 40:21
  do
• 40:21
  it?
• 40:22
  And
• 40:22
  maybe
• 40:22
  we're
• 40:22
  just
• 40:22
  early
• 40:23
  on
• 40:23
  it.
• 40:23
  I
• 40:23
  don't
• 40:23
  know.
• 40:24
  But
• 40:24
  yeah,
• 40:24
  I
• 40:24
  don't
• 40:25
  know.
• 40:25
  What
• 40:25
  do
• 40:25
  you
• 40:25
  think?
• 40:25
  Right.
• 40:26
  Well,
• 40:26
  I
• 40:26
  think,
• 40:27
  I
• 40:27
  think
• 40:27
  then
• 40:28
  we
• 40:28
  give
• 40:29
  Klarna
• 40:29
  credit
• 40:30
  for
• 40:31
  maybe
• 40:31
  the
• 40:32
  mark.
• 40:32
  I
• 40:32
  will
• 40:33
  fully
• 40:33
  admit
• 40:33
  in
• 40:33
  the
• 40:34
  vein
• 40:34
  of
• 40:34
  saying
• 40:34
  things
• 40:35
  I
• 40:35
  don't
• 40:35
  know,
• 40:35
  I
• 40:35
  don't
• 40:35
  know
• 40:36
  what
• 40:36
  traffic
• 40:36
  is
• 40:36
  like
• 40:36
  to
• 40:37
  Klarna's
• 40:37
  marketplace
• 40:38
  or
• 40:38
  what
• 40:39
  uptake
• 40:39
  is
• 40:39
  like.
• 40:40
  I
• 40:40
  haven't
• 40:40
  seen
• 40:40
  they
• 40:40
  talk
• 40:41
  about
• 40:41
  it
• 40:41
  a
• 40:41
  lot
• 40:41
  publicly.
• 40:43
  To
• 40:43
  their
• 40:43
  credit,
• 40:44
  they
• 40:44
  may
• 40:45
  be
• 40:45
  saying,
• 40:45
  okay,
• 40:45
  we
• 40:46
  have
• 40:46
  this
• 40:46
  marketplace
• 40:47
  and
• 40:47
  we
• 40:47
  are
• 40:48
  going
• 40:48
  to
• 40:48
  be
• 40:49
  where
• 40:49
  consumers
• 40:49
  are.
• 40:49
  And
• 40:50
  I
• 40:50
  think
• 40:50
  that's
• 40:50
  where
• 40:51
  the
• 40:51
  best
• 40:52
  thinking
• 40:52
  brands
• 40:53
  and
• 40:53
  retailers
• 40:54
  are.
• 40:54
  How,
• 40:55
  how
• 40:55
  they're
• 40:55
  orienting
• 40:56
  their,
• 40:57
  you
• 40:57
  know,
• 40:57
  investment
• 40:58
  in
• 40:58
  technology
• 40:59
  right
• 40:59
  now
• 41:00
  is
• 41:00
  just
• 41:01
  follow
• 41:01
  the
• 41:01
  consumer
• 41:02
  and,
• 41:03
  and
• 41:03
  follow
• 41:03
  what
• 41:04
  the
• 41:04
  consumer
• 41:04
  is
• 41:04
  trying
• 41:04
  to
• 41:05
  do.
• 41:05
  Maybe
• 41:05
  not
• 41:06
  necessarily
• 41:08
  exactly
• 41:08
  where
• 41:08
  they
• 41:08
  spend
• 41:09
  their
• 41:09
  time.
• 41:10
  But
• 41:11
  I
• 41:11
  do
• 41:11
  think
• 41:12
  that's
• 41:12
  been
• 41:12
  an
• 41:12
  adage
• 41:13
  that
• 41:13
  through
• 41:14
  my
• 41:14
  career,
• 41:15
  you
• 41:15
  know,
• 41:15
  tried
• 41:16
  to
• 41:16
  follow.
• 41:17
  It
• 41:17
  went
• 41:18
  back
• 41:18
  when
• 41:18
  CPG
• 41:19
  Brands
• 41:19
  said
• 41:20
  nobody
• 41:20
  will
• 41:20
  ever
• 41:20
  buy
• 41:21
  food
• 41:21
  on
• 41:22
  Amazon,
• 41:23
  not
• 41:23
  fresh
• 41:23
  food.
• 41:23
  And
• 41:24
  we're
• 41:24
  still
• 41:24
  dealing
• 41:25
  with
• 41:25
  that.
• 41:25
  But
• 41:25
  like
• 41:25
  nobody's
• 41:26
  going
• 41:26
  to
• 41:26
  buy
• 41:26
  their
• 41:26
  food
• 41:27
  on
• 41:27
  Amazon.
• 41:27
  It's
• 41:28
  like,
• 41:28
  yeah,
• 41:28
  but
• 41:29
  65%
• 41:30
  of
• 41:30
  them
• 41:30
  are
• 41:31
  there.
• 41:31
  So
• 41:31
  like,
• 41:32
  don't
• 41:32
  you
• 41:32
  want
• 41:32
  to
• 41:32
  be
• 41:32
  there
• 41:33
  in
• 41:33
  case
• 41:34
  they
• 41:34
  do
• 41:34
  want
• 41:34
  to
• 41:35
  buy
• 41:35
  that?
• 41:35
  So,
• 41:36
  you
• 41:37
  know,
• 41:37
  I,
• 41:37
  that's
• 41:38
  where
• 41:38
  I
• 41:38
  guess
• 41:38
  I
• 41:38
  have
• 41:38
  to
• 41:38
  give
• 41:38
  Klarna
• 41:39
  credit.
• 41:39
  They're,
• 41:40
  they're
• 41:40
  just
• 41:40
  trying
• 41:41
  to
• 41:41
  be
• 41:41
  where,
• 41:42
  you
• 41:42
  know,
• 41:42
  everybody
• 41:43
  is.
• 41:44
  And
• 41:44
  that
• 41:44
  seems
• 41:45
  to
• 41:45
  be
• 41:45
  what's
• 41:45
  guiding
• 41:46
  the
• 41:46
  successful
• 41:47
  retailers
• 41:48
  and
• 41:48
  brands
• 41:48
  right
• 41:48
  now.
• 41:50
  Yeah,
• 41:50
  right.
• 41:50
  And
• 41:51
  that
• 41:51
  always
• 41:51
  goes
• 41:51
  back
• 41:51
  to
• 41:51
  quote,
• 41:51
  I
• 41:52
  always
• 41:52
  screw
• 41:52
  up
• 41:52
  the
• 41:52
  quote
• 41:52
  too.
• 41:52
  But
• 41:53
  like
• 41:53
  the
• 41:53
  near
• 41:54
  term
• 41:54
  technology,
• 41:55
  technological
• 41:55
  change
• 41:56
  always
• 41:56
  happens
• 41:56
  slower
• 41:57
  than
• 41:57
  we
• 41:57
  think
• 41:57
  it
• 41:57
  will.
• 41:57
  But
• 41:58
  the
• 41:58
  longer
• 41:58
  term
• 41:58
  happens
• 41:59
  faster.
• 41:59
  Right.
• 41:59
  I
• 42:00
  think
• 42:00
  that's
• 42:00
  also
• 42:00
  the
• 42:00
  point
• 42:00
  you're
• 42:01
  getting
• 42:01
  at
• 42:01
  here,
• 42:01
  which
• 42:01
  is
• 42:01
  like
• 42:02
  we
• 42:02
  feel
• 42:02
  like
• 42:03
  we
• 42:03
  want
• 42:03
  this
• 42:03
  to
• 42:03
  happen
• 42:03
  fast,
• 42:04
  but
• 42:04
  it's
• 42:04
  probably
• 42:04
  just
• 42:05
  gonna
• 42:05
  take
• 42:05
  time
• 42:06
  and
• 42:06
  there's
• 42:06
  gonna
• 42:06
  be
• 42:06
  a
• 42:06
  lot
• 42:06
  of
• 42:06
  things
• 42:07
  we
• 42:07
  learn
• 42:07
  along
• 42:07
  the
• 42:07
  way.
• 42:08
  All
• 42:08
  right,
• 42:09
  let's
• 42:09
  close
• 42:09
  it
• 42:10
  up
• 42:10
  with
• 42:10
  a
• 42:10
  fun
• 42:11
  story
• 42:11
  today,
• 42:12
  which
• 42:12
  is
• 42:12
  a
• 42:12
  story
• 42:13
  like
• 42:13
  this
• 42:13
  is
• 42:13
  a
• 42:13
  headline
• 42:14
  that
• 42:14
  I've
• 42:14
  quite
• 42:15
  of
• 42:15
  a
• 42:15
  magnitude
• 42:15
  I've
• 42:16
  never
• 42:16
  seen
• 42:16
  before,
• 42:17
  quite
• 42:17
  frankly.
• 42:17
  And
• 42:17
  so
• 42:18
  headline
• 42:18
  number
• 42:18
  five
• 42:18
  is
• 42:18
  brought
• 42:19
  to
• 42:19
  you
• 42:19
  of
• 42:19
  course
• 42:19
  by
• 42:19
  the
• 42:19
  lock.
• 42:20
  The
• 42:20
  Lock
• 42:21
  is
• 42:21
  a
• 42:21
  proven
• 42:21
  e
• 42:21
  grocery
• 42:22
  technology
• 42:23
  built
• 42:23
  by
• 42:24
  grocers
• 42:24
  for
• 42:25
  grocers.
• 42:26
  Exactly
• 42:26
  the
• 42:27
  type
• 42:27
  of
• 42:27
  technology
• 42:27
  we
• 42:28
  like
• 42:28
  here
• 42:28
  at
• 42:28
  Omnitalk.
• 42:29
  They
• 42:29
  unite
• 42:29
  proprietary
• 42:30
  software
• 42:30
  with
• 42:30
  right
• 42:31
  size
• 42:31
  automation
• 42:31
  to
• 42:32
  make
• 42:32
  sense
• 42:32
  same
• 42:32
  day
• 42:32
  delivery
• 42:33
  profitable.
• 42:33
  To
• 42:34
  learn
• 42:34
  more
• 42:34
  visit
• 42:34
  Valoq.com
• 42:36
  that's
• 42:36
  V
• 42:36
  E
• 42:36
  L
• 42:37
  O
• 42:37
  Q.com
• 42:39
  Ross
• 42:39
  Stores
• 42:40
  I
• 42:41
  think
• 42:41
  crush
• 42:41
  it
• 42:41
  might
• 42:42
  be
• 42:42
  an
• 42:42
  understatement
• 42:43
  crushed
• 42:43
  its
• 42:43
  first
• 42:43
  quarter
• 42:44
  fiscal
• 42:44
  2026
• 42:45
  expectations
• 42:46
  and
• 42:46
  raised
• 42:47
  its
• 42:47
  full
• 42:47
  year
• 42:47
  outlook,
• 42:48
  reporting
• 42:48
  a
• 42:48
  21%
• 42:49
  jump
• 42:50
  in
• 42:50
  total
• 42:50
  sales
• 42:51
  to
• 42:51
  $6
• 42:51
  billion
• 42:52
  and
• 42:52
  a
• 42:52
  record
• 42:53
  17%
• 42:54
  comparable
• 42:55
  store
• 42:55
  sales
• 42:56
  increase,
• 42:57
  the
• 42:57
  highest
• 42:57
  sales
• 42:58
  same
• 42:58
  store
• 42:58
  growth
• 42:59
  in
• 42:59
  the
• 42:59
  company's
• 42:59
  history
• 43:00
  according
• 43:01
  to
• 43:01
  the
• 43:01
  Wall
• 43:01
  Street
• 43:01
  Journal
• 43:02
  and
• 43:02
  company
• 43:02
  earnings
• 43:03
  releases.
• 43:03
  CEO
• 43:04
  James
• 43:04
  Conroy
• 43:05
  said
• 43:05
  strong
• 43:05
  customer
• 43:06
  traffic
• 43:07
  was
• 43:07
  broad
• 43:07
  across
• 43:08
  income
• 43:08
  groups,
• 43:08
  age
• 43:09
  brackets
• 43:09
  and
• 43:09
  demographics,
• 43:10
  pointing
• 43:11
  to
• 43:11
  the
• 43:11
  continued
• 43:12
  tailwind
• 43:13
  Ross
• 43:13
  is
• 43:13
  seeing
• 43:14
  as
• 43:14
  inflation
• 43:14
  and
• 43:14
  economic
• 43:15
  uncertainty
• 43:16
  push
• 43:16
  shoppers
• 43:16
  toward
• 43:17
  off
• 43:17
  price
• 43:17
  retail.
• 43:18
  Ross
• 43:19
  now
• 43:19
  plans
• 43:19
  to
• 43:19
  open
• 43:20
  approximately
• 43:20
  110
• 43:21
  new
• 43:21
  stores
• 43:22
  in
• 43:22
  fiscal
• 43:22
  2026
• 43:24
  and
• 43:24
  the
• 43:24
  company
• 43:24
  raised
• 43:24
  its
• 43:25
  full
• 43:25
  year
• 43:25
  EPS
• 43:25
  guidance
• 43:26
  and
• 43:26
  lifted
• 43:26
  its
• 43:27
  same
• 43:27
  store
• 43:27
  sales
• 43:28
  growth
• 43:28
  expectations
• 43:29
  to
• 43:29
  6%
• 43:30
  to
• 43:30
  7%
• 43:31
  for
• 43:32
  the
• 43:32
  full
• 43:33
  year.
• 43:33
  Laura
• 43:34
  Ross's
• 43:34
  a
• 43:35
  17
• 43:36
  and
• 43:36
  a
• 43:36
  half
• 43:36
  sales
• 43:37
  comp
• 43:37
  or
• 43:37
  17%
• 43:38
  sales
• 43:38
  comp
• 43:39
  is
• 43:39
  almost
• 43:39
  too
• 43:40
  ridiculous
• 43:40
  to
• 43:41
  say
• 43:41
  out
• 43:41
  loud
• 43:42
  and
• 43:42
  kudos
• 43:42
  to
• 43:42
  them
• 43:43
  for
• 43:43
  that.
• 43:43
  So
• 43:44
  more
• 43:44
  importantly,
• 43:44
  what
• 43:44
  does
• 43:45
  it
• 43:45
  tell
• 43:45
  us
• 43:45
  about
• 43:45
  the
• 43:45
  consumer
• 43:46
  right
• 43:46
  now
• 43:46
  and
• 43:46
  will
• 43:47
  off
• 43:47
  price
• 43:47
  retail
• 43:48
  be
• 43:48
  the
• 43:48
  great
• 43:48
  unsung
• 43:49
  winner
• 43:50
  of
• 43:50
  this
• 43:50
  macroeconomic
• 43:51
  moment?
• 43:52
  Yeah,
• 43:52
  I
• 43:53
  mean
• 43:53
  the
• 43:53
  comp
• 43:53
  is
• 43:54
  crazy
• 43:54
  but
• 43:54
  equally
• 43:55
  crazy
• 43:55
  to
• 43:55
  me
• 43:56
  is
• 43:56
  the
• 43:56
  idea
• 43:56
  of
• 43:56
  110
• 43:57
  new
• 43:58
  stores
• 43:58
  in
• 43:59
  a
• 43:59
  fiscal
• 43:59
  year
• 43:59
  in,
• 44:00
  in
• 44:00
  2026.
• 44:01
  You
• 44:01
  know
• 44:02
  this
• 44:02
  isn't
• 44:03
  2010
• 44:04
  or,
• 44:04
  or
• 44:05
  you
• 44:05
  know,
• 44:05
  even
• 44:05
  earlier
• 44:06
  than
• 44:06
  that.
• 44:06
  And
• 44:07
  you
• 44:07
  know
• 44:07
  the
• 44:07
  truth
• 44:07
  is
• 44:08
  and
• 44:08
  this
• 44:08
  gets
• 44:09
  to
• 44:09
  the
• 44:09
  my
• 44:09
  overall
• 44:10
  point
• 44:10
  is
• 44:10
  that
• 44:10
  this
• 44:10
  is
• 44:10
  not
• 44:10
  just
• 44:11
  2026.
• 44:11
  They
• 44:12
  opened
• 44:12
  90
• 44:12
  stores
• 44:13
  last
• 44:13
  year
• 44:14
  according
• 44:14
  to
• 44:14
  retail
• 44:14
  dive.
• 44:16
  You
• 44:16
  know,
• 44:16
  acquired
• 44:17
  some
• 44:17
  old
• 44:17
  Rite
• 44:18
  Aids
• 44:18
  I
• 44:18
  think
• 44:19
  in
• 44:19
  the
• 44:19
  west
• 44:19
  coast.
• 44:21
  And
• 44:21
  so
• 44:21
  you
• 44:21
  know,
• 44:22
  I
• 44:22
  think
• 44:22
  it's
• 44:22
  easy
• 44:22
  to
• 44:22
  point
• 44:22
  to
• 44:23
  the
• 44:23
  economic
• 44:23
  environment
• 44:24
  is
• 44:24
  fueling
• 44:24
  this
• 44:25
  and
• 44:25
  you
• 44:26
  know,
• 44:26
  maybe
• 44:26
  the
• 44:26
  indicator
• 44:27
  of
• 44:27
  what's
• 44:27
  really
• 44:28
  going
• 44:28
  on
• 44:28
  that
• 44:29
  it
• 44:29
  seems
• 44:29
  to
• 44:29
  be
• 44:29
  hard
• 44:30
  to
• 44:30
  find
• 44:30
  otherwise.
• 44:32
  And
• 44:32
  to
• 44:32
  that
• 44:33
  end,
• 44:33
  really,
• 44:33
  we're
• 44:34
  calling
• 44:34
  it
• 44:34
  unsung.
• 44:35
  I
• 44:35
  think
• 44:35
  17%.
• 44:36
  It's
• 44:37
  not
• 44:37
  unsung
• 44:37
  at
• 44:37
  all.
• 44:38
  It's
• 44:39
  well
• 44:39
  heard.
• 44:41
  But
• 44:41
  I
• 44:41
  think
• 44:41
  what,
• 44:42
  what
• 44:42
  I
• 44:43
  do
• 44:43
  is,
• 44:43
  my
• 44:43
  immediate
• 44:44
  question
• 44:44
  is,
• 44:44
  well,
• 44:45
  so
• 44:45
  what.
• 44:45
  What
• 44:46
  about
• 44:46
  its.
• 44:46
  Its
• 44:47
  competitors
• 44:47
  or
• 44:47
  it's,
• 44:48
  you
• 44:48
  know,
• 44:49
  near.
• 44:49
  Near
• 44:50
  competitors
• 44:50
  or
• 44:51
  adjacent
• 44:51
  companies
• 44:51
  and
• 44:52
  its
• 44:52
  market
• 44:53
  and
• 44:54
  TJX
• 44:54
  and
• 44:54
  Burlington,
• 44:55
  which
• 44:56
  I
• 44:56
  think
• 44:56
  are
• 44:56
  generally
• 44:57
  in
• 44:57
  that
• 44:57
  same
• 44:58
  bucket,
• 44:59
  are
• 44:59
  also,
• 45:00
  you
• 45:00
  know,
• 45:00
  announcing
• 45:01
  solid
• 45:01
  results.
• 45:01
  Of
• 45:01
  course,
• 45:02
  TGX
• 45:02
  has
• 45:02
  been
• 45:02
  doing
• 45:03
  great
• 45:03
  forever.
• 45:04
  So
• 45:05
  this
• 45:05
  tells
• 45:05
  me
• 45:05
  that
• 45:05
  it's.
• 45:06
  Maybe
• 45:06
  it's
• 45:06
  not
• 45:07
  just
• 45:08
  this
• 45:08
  macroeconomic
• 45:09
  environment
• 45:11
  and
• 45:11
  tells
• 45:11
  me
• 45:11
  more
• 45:12
  about,
• 45:12
  I
• 45:12
  mean,
• 45:13
  yes,
• 45:13
  it's
• 45:13
  probably
• 45:13
  boosting
• 45:14
  it
• 45:14
  to
• 45:14
  that,
• 45:15
  you
• 45:15
  know,
• 45:15
  kind
• 45:15
  of
• 45:16
  obscene
• 45:16
  level.
• 45:17
  But
• 45:17
  there's,
• 45:18
  I
• 45:18
  think,
• 45:18
  the
• 45:18
  underlying.
• 45:21
  And
• 45:21
  the
• 45:21
  fact
• 45:21
  that
• 45:21
  they're
• 45:21
  opening
• 45:22
  stores,
• 45:22
  the
• 45:22
  underlying,
• 45:24
  you
• 45:24
  know,
• 45:24
  parts
• 45:25
  of
• 45:25
  their
• 45:25
  business
• 45:26
  are
• 45:26
  what
• 45:26
  is
• 45:27
  driving
• 45:27
  it.
• 45:27
  And,
• 45:28
  you
• 45:28
  know,
• 45:28
  if
• 45:29
  I'm
• 45:29
  a
• 45:29
  retailer
• 45:30
  brand,
• 45:30
  it's.
• 45:31
  I'm
• 45:31
  trying
• 45:32
  to
• 45:32
  figure
• 45:32
  out
• 45:32
  what
• 45:33
  this
• 45:33
  tells
• 45:34
  me
• 45:34
  what
• 45:34
  the
• 45:34
  consumer
• 45:34
  is
• 45:35
  looking
• 45:35
  for.
• 45:35
  And
• 45:36
  so,
• 45:36
  you
• 45:36
  know,
• 45:37
  you
• 45:37
  think
• 45:37
  about
• 45:37
  a
• 45:38
  TJX
• 45:38
  experience
• 45:39
  or,
• 45:39
  you
• 45:39
  know,
• 45:39
  it
• 45:39
  seems
• 45:40
  like
• 45:40
  at
• 45:40
  Ross
• 45:40
  stores
• 45:41
  in
• 45:41
  person,
• 45:41
  experience,
• 45:42
  you
• 45:43
  treasure
• 45:44
  hunt,
• 45:44
  discovery,
• 45:45
  rotating
• 45:46
  assortment.
• 45:48
  You
• 45:48
  know,
• 45:49
  I
• 45:49
  don't
• 45:49
  think
• 45:49
  Ross
• 45:50
  is
• 45:50
  expanding
• 45:51
  its
• 45:51
  store
• 45:51
  footprint
• 45:52
  blindly.
• 45:52
  So
• 45:53
  I
• 45:53
  think
• 45:53
  that
• 45:53
  we
• 45:53
  should,
• 45:53
  you
• 45:54
  know,
• 45:54
  trust
• 45:54
  in
• 45:54
  that.
• 45:55
  And
• 45:55
  so,
• 45:56
  you
• 45:56
  know,
• 45:56
  you
• 45:57
  have
• 45:57
  to
• 45:57
  wonder
• 45:57
  what
• 45:57
  is
• 45:58
  my
• 45:58
  version
• 45:58
  of
• 45:58
  that
• 45:58
  if
• 45:59
  I'm
• 45:59
  a
• 45:59
  retailer
• 45:59
  or
• 46:00
  a
• 46:00
  brand
• 46:01
  of,
• 46:01
  of
• 46:01
  creating
• 46:02
  a
• 46:02
  treasure
• 46:02
  hunt.
• 46:04
  It's
• 46:04
  clear
• 46:04
  that
• 46:05
  this
• 46:05
  is
• 46:05
  the
• 46:05
  broad
• 46:06
  base.
• 46:06
  It's
• 46:06
  not
• 46:07
  just
• 46:07
  macroeconomic.
• 46:09
  So
• 46:10
  that
• 46:10
  becomes
• 46:11
  something
• 46:11
  that's
• 46:11
  a
• 46:11
  preference
• 46:12
  versus
• 46:13
  just,
• 46:13
  you
• 46:13
  know,
• 46:14
  I
• 46:14
  need
• 46:14
  to
• 46:14
  shop
• 46:15
  off
• 46:15
  price.
• 46:16
  To
• 46:17
  me.
• 46:17
  What
• 46:17
  do
• 46:17
  you
• 46:17
  think?
• 46:18
  Yeah,
• 46:19
  I
• 46:19
  mean,
• 46:19
  I
• 46:19
  think
• 46:19
  what
• 46:19
  you're
• 46:19
  hitting
• 46:19
  at.
• 46:20
  There's
• 46:20
  something
• 46:20
  in
• 46:20
  the
• 46:20
  water
• 46:20
  at
• 46:21
  Ross
• 46:21
  because,
• 46:21
  you
• 46:22
  know,
• 46:22
  while
• 46:22
  the,
• 46:22
  while
• 46:23
  the
• 46:23
  entire
• 46:23
  segment
• 46:24
  is
• 46:24
  working,
• 46:24
  they're
• 46:25
  gaining
• 46:25
  significant
• 46:26
  share
• 46:26
  in
• 46:26
  off
• 46:27
  price.
• 46:28
  And
• 46:28
  the
• 46:28
  numbers.
• 46:29
  These
• 46:29
  aren't
• 46:29
  easy
• 46:29
  comps,
• 46:30
  Laura,
• 46:30
  either.
• 46:30
  I
• 46:30
  looked
• 46:30
  it
• 46:31
  up
• 46:31
  because
• 46:31
  I
• 46:31
  always,
• 46:31
  whenever
• 46:31
  I
• 46:32
  see
• 46:32
  a
• 46:32
  high
• 46:32
  common,
• 46:32
  I
• 46:32
  was
• 46:32
  like,
• 46:33
  what
• 46:33
  are
• 46:33
  they
• 46:33
  anniversarying?
• 46:34
  Yeah,
• 46:34
  there's
• 46:34
  a
• 46:34
  retailer
• 46:35
  that
• 46:35
  announced
• 46:35
  last
• 46:35
  week
• 46:36
  where
• 46:36
  I
• 46:36
  was
• 46:36
  like,
• 46:36
  yeah,
• 46:37
  I'm
• 46:37
  not
• 46:37
  buying
• 46:37
  those
• 46:37
  results.
• 46:38
  They
• 46:38
  had
• 46:38
  the
• 46:38
  easiest
• 46:38
  comp
• 46:39
  in
• 46:39
  a
• 46:39
  long
• 46:39
  time.
• 46:40
  Like,
• 46:41
  they
• 46:41
  had
• 46:41
  a,
• 46:41
  they
• 46:42
  had
• 46:42
  a
• 46:42
  positive
• 46:42
  3
• 46:43
  in
• 46:43
  2024
• 46:44
  and
• 46:44
  a
• 46:44
  flat
• 46:44
  comp
• 46:45
  in
• 46:45
  2025.
• 46:46
  So,
• 46:46
  like,
• 46:46
  you
• 46:47
  know,
• 46:47
  you
• 46:47
  know,
• 46:47
  17
• 46:48
  growth.
• 46:48
  I
• 46:49
  mean,
• 46:49
  that's
• 46:49
  what
• 46:49
  they
• 46:49
  did
• 46:49
  this
• 46:49
  year.
• 46:51
  Yeah.
• 46:51
  And
• 46:52
  so,
• 46:52
  like,
• 46:52
  and
• 46:53
  not
• 46:53
  surprisingly,
• 46:54
  they're
• 46:54
  doing
• 46:54
  what
• 46:54
  great
• 46:55
  retailers
• 46:55
  do.
• 46:55
  They
• 46:56
  know
• 46:56
  they're
• 46:56
  doing
• 46:56
  something
• 46:56
  right.
• 46:57
  And
• 46:57
  so
• 46:57
  they
• 46:57
  are
• 46:57
  going
• 46:58
  after
• 46:58
  it,
• 46:58
  when
• 46:58
  lightning
• 46:59
  happens,
• 46:59
  you
• 46:59
  gotta
• 47:00
  catch
• 47:00
  it
• 47:00
  in
• 47:00
  a
• 47:00
  bottle.
• 47:01
  If
• 47:01
  you're
• 47:01
  a
• 47:01
  retailer.
• 47:01
  That's
• 47:01
  like
• 47:02
  one
• 47:02
  axiom
• 47:02
  of
• 47:03
  retail.
• 47:03
  And
• 47:03
  I
• 47:03
  can
• 47:04
  only
• 47:04
  imagine,
• 47:04
  Laura,
• 47:05
  how
• 47:06
  freaking
• 47:06
  fast
• 47:07
  everyone
• 47:07
  is
• 47:08
  working
• 47:08
  at
• 47:09
  Ross
• 47:09
  right
• 47:09
  now
• 47:10
  to
• 47:10
  capitalize
• 47:10
  on
• 47:11
  this
• 47:11
  trend
• 47:11
  because
• 47:11
  it
• 47:11
  only
• 47:12
  comes
• 47:12
  around
• 47:13
  once
• 47:13
  in
• 47:13
  a
• 47:13
  lifetime.
• 47:14
  And
• 47:14
  when
• 47:14
  you
• 47:14
  get
• 47:14
  it,
• 47:15
  you
• 47:15
  go
• 47:15
  for
• 47:15
  it.
• 47:16
  So,
• 47:16
  and
• 47:17
  the
• 47:17
  other
• 47:17
  points
• 47:17
  I'd
• 47:17
  make,
• 47:18
  I
• 47:18
  think
• 47:19
  there
• 47:19
  is
• 47:19
  another,
• 47:19
  there
• 47:19
  is
• 47:20
  going
• 47:20
  to
• 47:20
  be
• 47:20
  another
• 47:21
  unsung
• 47:22
  hero
• 47:22
  out
• 47:23
  of
• 47:23
  this
• 47:23
  macroeconomic
• 47:24
  condition.
• 47:24
  It's
• 47:24
  a
• 47:25
  little
• 47:25
  bit
• 47:25
  of
• 47:25
  a
• 47:25
  pivot,
• 47:25
  but
• 47:26
  I
• 47:27
  think,
• 47:27
  yes,
• 47:27
  off
• 47:27
  price
• 47:28
  is
• 47:28
  going
• 47:28
  to
• 47:28
  win,
• 47:29
  but
• 47:29
  the
• 47:29
  other
• 47:29
  part
• 47:30
  of
• 47:30
  this
• 47:30
  is
• 47:30
  resale.
• 47:31
  Resale
• 47:32
  is
• 47:32
  going
• 47:32
  to
• 47:32
  win.
• 47:32
  And
• 47:33
  I
• 47:33
  think
• 47:33
  the,
• 47:33
  the,
• 47:34
  the
• 47:34
  Venn
• 47:35
  diagram
• 47:35
  of
• 47:35
  all
• 47:36
  these
• 47:36
  conditions
• 47:36
  that
• 47:36
  we're
• 47:37
  seeing
• 47:37
  in
• 47:37
  the
• 47:37
  off
• 47:37
  price
• 47:38
  segment
• 47:38
  is
• 47:38
  that
• 47:39
  my
• 47:39
  prediction
• 47:39
  is
• 47:40
  that
• 47:40
  very
• 47:40
  soon
• 47:40
  we're
• 47:40
  going
• 47:40
  to
• 47:40
  see
• 47:41
  a
• 47:41
  national
• 47:41
  branded
• 47:42
  retailer
• 47:43
  that
• 47:43
  makes
• 47:43
  its
• 47:43
  name
• 47:44
  name
• 47:44
  in
• 47:44
  resale
• 47:45
  with
• 47:45
  stores
• 47:45
  throughout
• 47:46
  the
• 47:46
  country
• 47:47
  because
• 47:47
  the
• 47:47
  macroeconomic
• 47:48
  conditions
• 47:48
  are
• 47:48
  perfect
• 47:49
  for
• 47:49
  it
• 47:49
  to
• 47:49
  happen.
• 47:50
  It
• 47:50
  hasn't
• 47:50
  happened
• 47:50
  yet.
• 47:51
  And
• 47:51
  I'm
• 47:51
  not
• 47:51
  talking
• 47:51
  about
• 47:52
  your
• 47:52
  grandmother's
• 47:53
  goodwill,
• 47:53
  which
• 47:53
  we
• 47:54
  all
• 47:54
  know.
• 47:54
  I'm
• 47:54
  talking
• 47:55
  about
• 47:55
  something
• 47:56
  new,
• 47:56
  something
• 47:57
  inviting,
• 47:57
  something,
• 47:58
  well
• 47:58
  merchandised,
• 47:59
  something
• 47:59
  compelling,
• 48:00
  something
• 48:01
  that
• 48:01
  is
• 48:01
  omnichannel
• 48:02
  in
• 48:02
  nature.
• 48:03
  Perhaps
• 48:03
  that
• 48:04
  just
• 48:04
  does
• 48:05
  resell
• 48:05
  in
• 48:05
  a
• 48:06
  different
• 48:06
  way
• 48:07
  because
• 48:08
  that
• 48:08
  is
• 48:08
  where
• 48:09
  the
• 48:09
  next
• 48:09
  economic
• 48:10
  rung
• 48:10
  will
• 48:10
  go.
• 48:11
  Right.
• 48:11
  There's
• 48:11
  off
• 48:12
  price.
• 48:12
  But
• 48:13
  resell
• 48:13
  is
• 48:13
  even
• 48:14
  more
• 48:14
  advantageous
• 48:15
  economically
• 48:15
  than
• 48:16
  off
• 48:16
  price
• 48:16
  if
• 48:16
  you
• 48:17
  can
• 48:17
  do
• 48:17
  it
• 48:17
  right
• 48:17
  and
• 48:17
  find
• 48:18
  what
• 48:18
  you
• 48:18
  want.
• 48:18
  So
• 48:18
  that's
• 48:19
  my
• 48:19
  prediction
• 48:19
  here
• 48:20
  especially
• 48:20
  we
• 48:20
  talk
• 48:20
  about,
• 48:21
  you
• 48:21
  know,
• 48:21
  the
• 48:21
  future
• 48:21
  doesn't
• 48:22
  happen.
• 48:22
  You
• 48:22
  know,
• 48:22
  the
• 48:23
  future
• 48:23
  never
• 48:23
  happens
• 48:23
  as
• 48:23
  quickly
• 48:24
  as
• 48:24
  we
• 48:24
  think
• 48:24
  it
• 48:24
  will.
• 48:24
  But
• 48:25
  I
• 48:25
  think
• 48:25
  when
• 48:25
  we
• 48:25
  look
• 48:25
  back
• 48:25
  10
• 48:26
  years
• 48:26
  from
• 48:26
  now,
• 48:27
  this
• 48:27
  will
• 48:27
  be
• 48:27
  the
• 48:27
  moment
• 48:28
  we
• 48:28
  said,
• 48:28
  oh,
• 48:28
  yep,
• 48:29
  that
• 48:29
  national
• 48:30
  resale
• 48:30
  brand,
• 48:31
  that
• 48:31
  is
• 48:31
  where
• 48:31
  it
• 48:31
  all
• 48:31
  started.
• 48:33
  Yeah,
• 48:33
  I
• 48:33
  mean,
• 48:33
  I
• 48:33
  think
• 48:34
  resale,
• 48:35
  resale
• 48:35
  has
• 48:35
  proven
• 48:35
  to
• 48:36
  be
• 48:36
  an
• 48:36
  interesting
• 48:37
  space
• 48:37
  to
• 48:37
  watch.
• 48:38
  And
• 48:38
  I
• 48:38
  think
• 48:39
  your
• 48:39
  point
• 48:39
  about
• 48:39
  a
• 48:39
  national
• 48:40
  chain
• 48:41
  and
• 48:42
  thinking
• 48:42
  about
• 48:42
  the
• 48:43
  in
• 48:43
  store
• 48:43
  experience
• 48:44
  matters
• 48:45
  a
• 48:45
  lot.
• 48:46
  I
• 48:46
  feel
• 48:46
  like
• 48:47
  a
• 48:47
  lot
• 48:47
  of
• 48:47
  the
• 48:48
  digital
• 48:48
  solutions
• 48:50
  for
• 48:50
  resale
• 48:51
  maybe
• 48:51
  haven't
• 48:52
  caught
• 48:53
  on
• 48:53
  quite
• 48:53
  like
• 48:53
  we
• 48:54
  thought
• 48:54
  they
• 48:54
  would.
• 48:54
  I
• 48:54
  don't
• 48:54
  think
• 48:55
  anybody's
• 48:55
  in
• 48:55
  bad
• 48:55
  shape,
• 48:56
  but
• 48:57
  it's
• 48:57
  maybe
• 48:57
  a
• 48:57
  little
• 48:58
  slower.
• 48:59
  There's
• 48:59
  interesting,
• 49:01
  I
• 49:01
  think
• 49:01
  demographic
• 49:02
  trends
• 49:02
  in
• 49:03
  terms
• 49:03
  of
• 49:04
  a
• 49:04
  younger
• 49:04
  generation
• 49:04
  of
• 49:05
  shoppers
• 49:05
  that's,
• 49:05
  that's
• 49:06
  interested
• 49:06
  in
• 49:06
  vintage
• 49:07
  shopping
• 49:07
  and
• 49:09
  all
• 49:09
  of
• 49:09
  the
• 49:10
  sort
• 49:10
  of
• 49:10
  social
• 49:10
  implications
• 49:11
  of
• 49:12
  why
• 49:12
  resale
• 49:13
  is,
• 49:13
  is
• 49:13
  great.
• 49:15
  Same
• 49:15
  generation
• 49:16
  is
• 49:16
  the
• 49:16
  reason
• 49:17
  we
• 49:17
  have
• 49:17
  Shein.
• 49:18
  So,
• 49:18
  you
• 49:19
  know,
• 49:19
  take
• 49:19
  that
• 49:19
  with
• 49:20
  a
• 49:20
  grain
• 49:20
  of
• 49:20
  salt.
• 49:21
  But
• 49:23
  I
• 49:24
  think
• 49:24
  it,
• 49:25
  that
• 49:25
  it
• 49:25
  will
• 49:25
  be
• 49:25
  an
• 49:26
  interesting
• 49:26
  space
• 49:26
  to
• 49:26
  watch
• 49:27
  And
• 49:28
  I've
• 49:28
  certainly
• 49:29
  seen
• 49:30
  a
• 49:30
  lot
• 49:30
  of
• 49:30
  innovation
• 49:31
  in
• 49:31
  the,
• 49:33
  in
• 49:33
  the
• 49:33
  IRL
• 49:34
  resale
• 49:36
  experience
• 49:37
  and
• 49:37
  a
• 49:38
  lot
• 49:38
  of
• 49:38
  enthusiasm
• 49:39
  for
• 49:39
  it.
• 49:39
  So.
• 49:40
  And
• 49:40
  that
• 49:40
  one,
• 49:41
  to
• 49:41
  me
• 49:41
  is
• 49:41
  the
• 49:42
  prototypical.
• 49:44
  It's,
• 49:44
  it's
• 49:44
  probably
• 49:44
  always
• 49:45
  going
• 49:45
  to
• 49:45
  have
• 49:45
  a
• 49:45
  base
• 49:46
  that
• 49:46
  is,
• 49:46
  you
• 49:47
  know,
• 49:47
  economically
• 49:48
  based,
• 49:48
  economically,
• 49:49
  you
• 49:49
  know,
• 49:50
  oriented,
• 49:51
  but
• 49:52
  has
• 49:53
  a
• 49:53
  really
• 49:53
  broad
• 49:53
  appeal
• 49:54
  across
• 49:56
  income
• 49:56
  groups.
• 49:57
  Yeah.
• 49:57
  And
• 49:57
  there
• 49:57
  are
• 49:57
  some,
• 49:58
  there
• 49:58
  are
• 49:58
  some
• 49:58
  interesting
• 49:58
  franchises
• 49:59
  starting
• 49:59
  to
• 49:59
  pop
• 49:59
  up,
• 49:59
  like,
• 49:59
  to
• 50:00
  your
• 50:00
  point,
• 50:00
  like,
• 50:00
  if
• 50:00
  you
• 50:00
  can
• 50:00
  make
• 50:01
  the
• 50:01
  model
• 50:01
  work
• 50:02
  now,
• 50:02
  you
• 50:03
  should
• 50:03
  only
• 50:03
  be
• 50:03
  able
• 50:03
  to
• 50:03
  make
• 50:04
  it
• 50:04
  work
• 50:04
  even
• 50:04
  better
• 50:04
  in
• 50:05
  the
• 50:05
  future.
• 50:05
  And
• 50:05
  you
• 50:05
  should
• 50:05
  actually
• 50:06
  able
• 50:06
  to
• 50:06
  be
• 50:06
  printing
• 50:07
  money
• 50:07
  from
• 50:07
  it
• 50:07
  too.
• 50:07
  Right.
• 50:08
  So,
• 50:08
  yeah,
• 50:08
  that's,
• 50:09
  that's
• 50:09
  my
• 50:09
  other,
• 50:09
  you
• 50:10
  know,
• 50:10
  kind
• 50:10
  of
• 50:10
  tangential
• 50:11
  takeaway
• 50:11
  that
• 50:11
  I
• 50:11
  get
• 50:12
  from
• 50:12
  this
• 50:12
  headline,
• 50:12
  which
• 50:13
  I
• 50:13
  think
• 50:13
  is
• 50:13
  interesting.
• 50:14
  All
• 50:14
  right,
• 50:14
  well,
• 50:14
  let's
• 50:14
  go
• 50:15
  to
• 50:15
  the
• 50:15
  lightning
• 50:15
  round.
• 50:16
  Laura,
• 50:16
  let's
• 50:16
  close
• 50:16
  out
• 50:16
  today's
• 50:17
  show.
• 50:17
  It
• 50:17
  was
• 50:17
  Memorial
• 50:18
  Day
• 50:18
  this
• 50:18
  past
• 50:18
  weekend,
• 50:19
  which
• 50:19
  means
• 50:20
  summer
• 50:20
  is
• 50:20
  officially
• 50:21
  here.
• 50:21
  What,
• 50:22
  in
• 50:22
  your
• 50:22
  opinion,
• 50:22
  Laura,
• 50:23
  is
• 50:23
  the
• 50:23
  single
• 50:23
  most
• 50:24
  underrated
• 50:24
  summer
• 50:25
  road
• 50:25
  trip
• 50:26
  destination
• 50:26
  in
• 50:27
  America?
• 50:27
  And
• 50:28
  why?
• 50:30
  Well,
• 50:30
  I
• 50:30
  have
• 50:31
  two
• 50:31
  answers
• 50:31
  for
• 50:31
  this.
• 50:32
  Admittedly,
• 50:32
  they're
• 50:33
  both
• 50:33
  in
• 50:33
  the
• 50:33
  Midwest.
• 50:34
  You
• 50:35
  know,
• 50:35
  my
• 50:35
  caveat
• 50:35
  is
• 50:36
  that
• 50:36
  I,
• 50:36
  my
• 50:37
  experiences
• 50:37
  do
• 50:37
  not
• 50:38
  span
• 50:38
  the
• 50:38
  entire
• 50:39
  continental
• 50:40
  U.S.
• 50:40
  so
• 50:40
  I'm
• 50:41
  going
• 50:41
  with
• 50:41
  what
• 50:41
  I
• 50:41
  know.
• 50:42
  The
• 50:42
  first
• 50:43
  is
• 50:43
  southwest
• 50:43
  Michigan.
• 50:45
  You
• 50:45
  know,
• 50:45
  it's
• 50:45
  likely
• 50:45
  people
• 50:46
  from
• 50:46
  Illinois,
• 50:47
  Indiana,
• 50:47
  Michigan
• 50:48
  will
• 50:48
  say,
• 50:48
  this
• 50:48
  is
• 50:48
  not
• 50:48
  indurated.
• 50:49
  And
• 50:49
  everybody
• 50:49
  knows
• 50:50
  about
• 50:50
  it.
• 50:51
  But
• 50:51
  I
• 50:52
  just,
• 50:52
  in
• 50:52
  the
• 50:52
  last
• 50:52
  10
• 50:53
  years
• 50:53
  or
• 50:53
  so
• 50:53
  have
• 50:53
  started
• 50:54
  to
• 50:54
  go
• 50:54
  to
• 50:54
  Great
• 50:54
  Lakes
• 50:55
  beaches.
• 50:55
  And
• 50:57
  they're,
• 50:57
  they're
• 50:58
  awesome.
• 50:58
  You
• 50:58
  know,
• 50:58
  you're,
• 50:59
  you're,
• 50:59
  you're
• 50:59
  on
• 51:00
  Great
• 51:00
  Lakes
• 51:00
  too,
• 51:00
  so
• 51:01
  you're
• 51:01
  not
• 51:01
  unfamiliar
• 51:02
  with
• 51:02
  this
• 51:02
  idea.
• 51:02
  But
• 51:03
  southwest
• 51:04
  Michigan
• 51:04
  has
• 51:05
  wineries.
• 51:05
  There's
• 51:06
  a
• 51:06
  lot
• 51:06
  of
• 51:06
  other
• 51:06
  charming
• 51:07
  development
• 51:07
  along
• 51:07
  the
• 51:07
  main
• 51:08
  drags.
• 51:08
  It
• 51:08
  gets
• 51:09
  more
• 51:09
  populous
• 51:09
  as
• 51:10
  you
• 51:10
  go
• 51:10
  further
• 51:10
  north.
• 51:11
  And
• 51:11
  there's
• 51:11
  some
• 51:11
  more
• 51:12
  established,
• 51:12
  what
• 51:12
  I
• 51:13
  would
• 51:13
  call
• 51:13
  beach
• 51:13
  towns.
• 51:14
  But
• 51:15
  down
• 51:16
  about
• 51:16
  two
• 51:16
  and
• 51:17
  a
• 51:17
  half
• 51:17
  hours
• 51:17
  from
• 51:17
  where
• 51:17
  we
• 51:18
  are
• 51:18
  in
• 51:18
  Indiana,
• 51:19
  right
• 51:19
  over
• 51:19
  the
• 51:19
  border.
• 51:20
  It's
• 51:20
  really
• 51:20
  a
• 51:20
  great
• 51:21
  vacation
• 51:21
  time.
• 51:22
  So
• 51:22
  I
• 51:22
  would
• 51:23
  highly
• 51:23
  endorse
• 51:23
  that.
• 51:25
  And
• 51:25
  then
• 51:25
  the
• 51:26
  other
• 51:26
  may
• 51:26
  not
• 51:26
  be
• 51:26
  great
• 51:26
  for
• 51:27
  summer.
• 51:27
  It
• 51:27
  might
• 51:27
  be
• 51:27
  a
• 51:27
  little
• 51:27
  too
• 51:28
  hot.
• 51:28
  But
• 51:28
  it's
• 51:29
  Red
• 51:29
  River
• 51:29
  Gorge
• 51:30
  in
• 51:30
  Kentucky.
• 51:30
  We
• 51:31
  actually
• 51:31
  went.
• 51:31
  Red
• 51:32
  River
• 51:32
  Gorge.
• 51:32
  That's
• 51:33
  a
• 51:33
  real
• 51:33
  place.
• 51:33
  Red
• 51:34
  River
• 51:34
  Gorge.
• 51:35
  Not
• 51:35
  a
• 51:35
  place
• 51:35
  in
• 51:35
  a
• 51:36
  Clint
• 51:36
  Eastwood
• 51:36
  movie.
• 51:36
  It's
• 51:37
  a
• 51:37
  real
• 51:37
  place.
• 51:37
  No,
• 51:37
  no,
• 51:38
  it's
• 51:38
  a
• 51:38
  real
• 51:38
  place.
• 51:38
  We
• 51:39
  went
• 51:39
  a
• 51:40
  few
• 51:40
  years
• 51:40
  ago.
• 51:42
  Again,
• 51:42
  the
• 51:42
  community
• 51:43
  of
• 51:44
  rock
• 51:44
  climbing
• 51:44
  people,
• 51:45
  rock
• 51:45
  climbers
• 51:46
  will
• 51:46
  say
• 51:46
  this
• 51:46
  is
• 51:46
  also
• 51:47
  well
• 51:47
  known.
• 51:48
  It's
• 51:48
  a
• 51:48
  canyon
• 51:49
  system.
• 51:49
  And
• 51:50
  I,
• 51:50
  I
• 51:51
  had
• 51:51
  no
• 51:51
  idea
• 51:51
  it
• 51:52
  was
• 51:52
  there.
• 51:53
  It's,
• 51:53
  I
• 51:54
  feel
• 51:54
  it's
• 51:54
  Almost
• 51:55
  national
• 51:55
  parks
• 51:56
  level
• 51:56
  scenery
• 51:57
  and
• 51:57
  rocks.
• 51:58
  I'm
• 51:59
  someone
• 51:59
  who
• 51:59
  I.
• 51:59
  I
• 52:00
  like
• 52:00
  rocks
• 52:00
  in
• 52:00
  my
• 52:00
  national
• 52:01
  parks.
• 52:01
  That.
• 52:02
  The.
• 52:02
  The
• 52:02
  Southwest
• 52:03
  is
• 52:03
  my
• 52:03
  favorite.
• 52:03
  So
• 52:04
  it
• 52:05
  might
• 52:05
  get
• 52:05
  a
• 52:05
  little
• 52:05
  hot
• 52:06
  in
• 52:06
  the
• 52:06
  summer.
• 52:06
  We
• 52:06
  might
• 52:06
  be
• 52:07
  entering
• 52:07
  maybe
• 52:07
  the.
• 52:08
  The
• 52:08
  end
• 52:08
  of
• 52:08
  your
• 52:09
  really
• 52:09
  comfortable
• 52:09
  time
• 52:10
  there.
• 52:11
  But
• 52:11
  we
• 52:11
  had
• 52:12
  a
• 52:12
  really
• 52:12
  great
• 52:12
  time.
• 52:13
  More
• 52:13
  of
• 52:13
  a
• 52:13
  long
• 52:13
  weekend
• 52:14
  trip,
• 52:14
  I
• 52:14
  would
• 52:14
  say,
• 52:15
  when
• 52:15
  we
• 52:15
  went
• 52:15
  in
• 52:16
  the
• 52:16
  fall
• 52:16
  a
• 52:16
  few
• 52:16
  years
• 52:16
  ago.
• 52:18
  Okay.
• 52:18
  All
• 52:19
  right,
• 52:19
  nice.
• 52:19
  So
• 52:19
  you're
• 52:19
  a
• 52:19
  rock
• 52:20
  climber.
• 52:20
  That's
• 52:20
  what
• 52:20
  I'm.
• 52:20
  That's
• 52:21
  what
• 52:21
  I'm
• 52:21
  hearing.
• 52:21
  I
• 52:21
  was
• 52:21
  gonna
• 52:22
  say
• 52:22
  I
• 52:22
  should
• 52:22
  clear.
• 52:23
  I
• 52:23
  am
• 52:23
  not.
• 52:24
  We
• 52:24
  did
• 52:24
  not
• 52:24
  rock
• 52:25
  climb,
• 52:25
  but
• 52:25
  we.
• 52:25
  Don't
• 52:26
  go
• 52:26
  on
• 52:26
  belay
• 52:26
  or
• 52:27
  whatever.
• 52:27
  It
• 52:27
  is
• 52:28
  great.
• 52:29
  There's
• 52:29
  great
• 52:29
  hiking,
• 52:30
  but
• 52:30
  the
• 52:31
  people
• 52:31
  who
• 52:31
  love
• 52:31
  rock
• 52:31
  climbing
• 52:32
  love
• 52:32
  doing
• 52:32
  it
• 52:32
  there.
• 52:33
  All
• 52:33
  right.
• 52:33
  Okay,
• 52:34
  guys.
• 52:34
  So
• 52:34
  you're.
• 52:34
  You're
• 52:35
  promoting
• 52:35
  it
• 52:35
  for
• 52:36
  them.
• 52:36
  That's
• 52:36
  what
• 52:37
  you
• 52:37
  say?
• 52:37
  Yeah,
• 52:37
  yeah.
• 52:38
  And
• 52:38
  for,
• 52:38
  you
• 52:38
  know,
• 52:38
  if
• 52:38
  you
• 52:38
  just
• 52:39
  want
• 52:39
  to
• 52:39
  kind
• 52:39
  of
• 52:39
  hang
• 52:40
  out
• 52:40
  and.
• 52:40
  And
• 52:41
  look
• 52:41
  at
• 52:41
  some.
• 52:41
  Some
• 52:42
  great
• 52:42
  scenery.
• 52:43
  Look
• 52:43
  at
• 52:44
  some
• 52:44
  rocks.
• 52:44
  Yeah,
• 52:45
  exactly.
• 52:46
  So
• 52:46
  my
• 52:46
  retort
• 52:47
  to
• 52:47
  that
• 52:47
  is.
• 52:48
  Is
• 52:48
  that
• 52:48
  are
• 52:48
  there
• 52:49
  summer
• 52:49
  destinations
• 52:50
  that
• 52:50
  you
• 52:50
  think
• 52:51
  are
• 52:51
  overrated?
• 52:53
  Oh,
• 52:53
  man,
• 52:53
  that's
• 52:54
  a.
• 52:54
  That's
• 52:55
  a
• 52:55
  tough
• 52:55
  one.
• 52:55
  You
• 52:55
  know?
• 52:56
  So
• 52:57
  basically,
• 52:57
  anything
• 52:57
  that
• 52:57
  requires
• 52:58
  a
• 52:58
  hike,
• 52:58
  as
• 52:59
  loyal
• 52:59
  omnitok
• 53:00
  fans
• 53:00
  will
• 53:00
  know,
• 53:00
  because
• 53:01
  I
• 53:01
  loathe
• 53:01
  hiking.
• 53:02
  I
• 53:02
  hate
• 53:02
  it
• 53:03
  when
• 53:03
  my
• 53:03
  white
• 53:03
  wife
• 53:03
  loves
• 53:04
  hiking,
• 53:04
  and
• 53:04
  every
• 53:04
  time
• 53:04
  she
• 53:05
  makes
• 53:05
  me
• 53:05
  do
• 53:05
  it,
• 53:05
  I'm
• 53:05
  like,
• 53:06
  no,
• 53:06
  no,
• 53:06
  no,
• 53:07
  I
• 53:07
  can't
• 53:07
  do
• 53:07
  it.
• 53:08
  So
• 53:08
  I
• 53:08
  think
• 53:08
  on
• 53:08
  that
• 53:09
  front,
• 53:09
  I
• 53:09
  think
• 53:09
  it
• 53:09
  cancels
• 53:10
  out
• 53:10
  the
• 53:10
  Grand
• 53:10
  Canyon,
• 53:11
  Moab,
• 53:12
  Zion
• 53:13
  national
• 53:13
  park,
• 53:14
  all
• 53:14
  those
• 53:15
  places.
• 53:15
  But
• 53:15
  in
• 53:15
  fairness,
• 53:16
  those
• 53:16
  are
• 53:16
  all
• 53:16
  beautiful.
• 53:18
  I
• 53:18
  don't
• 53:18
  know.
• 53:18
  I.
• 53:20
  I
• 53:20
  went
• 53:21
  to
• 53:21
  Jackson
• 53:21
  Hole
• 53:21
  when
• 53:21
  I
• 53:22
  was
• 53:22
  a
• 53:22
  kid,
• 53:22
  and
• 53:22
  I
• 53:22
  was
• 53:22
  like,
• 53:22
  yeah,
• 53:22
  it's
• 53:23
  kind
• 53:23
  of
• 53:23
  overrated.
• 53:23
  It's
• 53:24
  just
• 53:24
  kind
• 53:24
  of
• 53:24
  poshy
• 53:24
  and
• 53:24
  overrated.
• 53:25
  I
• 53:25
  think
• 53:25
  that
• 53:25
  would
• 53:26
  be
• 53:26
  the
• 53:26
  one
• 53:26
  thing
• 53:26
  that
• 53:26
  would
• 53:27
  come
• 53:27
  to
• 53:27
  my
• 53:27
  mind.
• 53:29
  But
• 53:29
  I
• 53:29
  don't
• 53:29
  know.
• 53:29
  I
• 53:30
  mean,
• 53:31
  the.
• 53:32
  The
• 53:32
  Corn
• 53:32
  palace
• 53:33
  in
• 53:33
  South
• 53:33
  Dakota.
• 53:34
  You
• 53:34
  know,
• 53:34
  I
• 53:35
  don't
• 53:35
  know
• 53:35
  if
• 53:35
  I.
• 53:35
  I
• 53:35
  don't
• 53:35
  know
• 53:35
  if
• 53:36
  I
• 53:36
  need
• 53:36
  to
• 53:36
  see
• 53:36
  that
• 53:36
  in
• 53:36
  my
• 53:36
  life.
• 53:37
  No
• 53:37
  offense
• 53:37
  to
• 53:37
  South
• 53:37
  Dakotans,
• 53:38
  but
• 53:38
  yes.
• 53:38
  Right.
• 53:39
  Right.
• 53:39
  Yes.
• 53:39
  You
• 53:40
  know,
• 53:40
  it's
• 53:40
  kind
• 53:40
  of
• 53:40
  wall
• 53:41
  drug,
• 53:41
  you
• 53:41
  know,
• 53:42
  it's.
• 53:42
  It's
• 53:42
  kitchen,
• 53:43
  you
• 53:43
  know?
• 53:44
  Yeah.
• 53:44
  You
• 53:44
  know,
• 53:44
  that's
• 53:45
  what
• 53:45
  comes
• 53:45
  to
• 53:45
  mind
• 53:45
  for
• 53:45
  me.
• 53:46
  All
• 53:46
  right.
• 53:46
  The
• 53:47
  Indy
• 53:47
  500
• 53:47
  took
• 53:48
  place
• 53:48
  this
• 53:48
  past
• 53:48
  weekend
• 53:48
  in
• 53:49
  your
• 53:49
  home
• 53:49
  city
• 53:49
  of
• 53:49
  Indianapolis.
• 53:50
  What
• 53:50
  is
• 53:50
  one
• 53:51
  word
• 53:51
  you
• 53:52
  would
• 53:52
  use
• 53:52
  to
• 53:52
  describe
• 53:53
  Indianapolis
• 53:53
  during
• 53:54
  the
• 53:54
  Indy
• 53:54
  500?
• 53:56
  Well,
• 53:56
  I
• 53:57
  have
• 53:57
  to
• 53:57
  steal
• 53:57
  from
• 53:58
  the.
• 53:58
  The
• 53:59
  trademark
• 54:00
  slogan
• 54:00
  about
• 54:01
  the
• 54:01
  Indy
• 54:02
  500,
• 54:03
  which
• 54:03
  is
• 54:03
  the
• 54:04
  greatest
• 54:04
  spectacle
• 54:04
  in
• 54:05
  racing,
• 54:06
  and
• 54:07
  say
• 54:07
  that
• 54:07
  it's
• 54:08
  a
• 54:08
  spectacle
• 54:09
  the
• 54:10
  race
• 54:10
  itself
• 54:10
  is,
• 54:10
  of
• 54:11
  course,
• 54:11
  a
• 54:11
  spectacle.
• 54:12
  And
• 54:13
  there's
• 54:13
  a
• 54:13
  lot
• 54:13
  of.
• 54:13
  If
• 54:14
  you've
• 54:14
  ever
• 54:14
  watched
• 54:14
  the
• 54:14
  pre.
• 54:15
  The
• 54:15
  pre
• 54:15
  Game,
• 54:15
  the
• 54:16
  pre
• 54:16
  race
• 54:16
  on
• 54:16
  tv,
• 54:17
  if
• 54:17
  you
• 54:18
  haven't
• 54:18
  been
• 54:18
  to
• 54:18
  the
• 54:18
  race,
• 54:19
  you
• 54:19
  know
• 54:19
  what
• 54:19
  it
• 54:19
  is.
• 54:20
  But
• 54:20
  I
• 54:21
  think
• 54:21
  what
• 54:21
  people
• 54:21
  may
• 54:21
  not
• 54:22
  realize
• 54:22
  is
• 54:22
  that
• 54:22
  the
• 54:23
  entire
• 54:23
  month
• 54:23
  of
• 54:24
  May
• 54:24
  is
• 54:24
  festive
• 54:25
  in
• 54:25
  Indianapolis.
• 54:26
  And
• 54:27
  so
• 54:27
  while
• 54:28
  it.
• 54:28
  Everything
• 54:29
  that
• 54:29
  happens
• 54:29
  at
• 54:29
  the
• 54:29
  race
• 54:29
  is
• 54:30
  second
• 54:30
  to
• 54:30
  none
• 54:30
  and
• 54:31
  truly
• 54:31
  unique,
• 54:32
  you
• 54:32
  can
• 54:32
  get
• 54:33
  what
• 54:33
  I
• 54:33
  call
• 54:33
  the
• 54:34
  vibes
• 54:35
  and
• 54:35
  join
• 54:35
  the
• 54:35
  festivity
• 54:36
  in
• 54:36
  a
• 54:36
  lot
• 54:36
  of
• 54:36
  different
• 54:36
  ways.
• 54:37
  There's
• 54:37
  lots
• 54:37
  of
• 54:38
  chances
• 54:38
  to
• 54:38
  go
• 54:38
  and
• 54:38
  be
• 54:39
  at
• 54:39
  the
• 54:39
  track,
• 54:39
  hear
• 54:40
  the
• 54:40
  cars,
• 54:40
  watch
• 54:41
  the
• 54:41
  cars,
• 54:43
  you
• 54:43
  know,
• 54:43
  just
• 54:43
  kind
• 54:44
  of
• 54:44
  join
• 54:44
  in
• 54:44
  on
• 54:44
  all
• 54:45
  the
• 54:45
  fun
• 54:45
  throughout
• 54:45
  the
• 54:46
  month.
• 54:46
  So
• 54:47
  I.
• 54:47
  I
• 54:48
  would
• 54:48
  really
• 54:48
  jump
• 54:48
  on
• 54:48
  the
• 54:48
  bandwagon
• 54:49
  of
• 54:49
  calling
• 54:49
  it
• 54:50
  a
• 54:50
  spectacle
• 54:51
  for
• 54:51
  the
• 54:51
  whole
• 54:51
  city.
• 54:52
  A
• 54:52
  spectacle.
• 54:53
  So
• 54:53
  you
• 54:53
  like
• 54:53
  the
• 54:53
  rev
• 54:54
  of
• 54:54
  that
• 54:54
  engine,
• 54:54
  Laura?
• 54:55
  That's
• 54:55
  what
• 54:55
  you're
• 54:55
  saying?
• 54:55
  You
• 54:56
  like
• 54:56
  the
• 54:56
  real.
• 54:57
  It's
• 54:57
  a
• 54:57
  distinctive
• 54:58
  sound.
• 54:58
  I
• 54:59
  really.
• 54:59
  It's
• 54:59
  hard
• 54:59
  to
• 54:59
  describe
• 55:00
  if
• 55:00
  you
• 55:00
  haven't
• 55:01
  been
• 55:01
  to
• 55:01
  the
• 55:02
  race.
• 55:02
  I
• 55:02
  think
• 55:02
  most
• 55:03
  people
• 55:03
  justifiably.
• 55:04
  Car
• 55:04
  racing
• 55:05
  isn't
• 55:05
  like
• 55:05
  the
• 55:06
  most
• 55:06
  exciting
• 55:07
  sport
• 55:07
  except
• 55:08
  for,
• 55:08
  like,
• 55:08
  the
• 55:08
  beginning
• 55:09
  and
• 55:09
  the
• 55:09
  end.
• 55:10
  I
• 55:10
  say
• 55:10
  this
• 55:10
  is
• 55:11
  a
• 55:11
  sports
• 55:11
  fan,
• 55:12
  but.
• 55:13
  But
• 55:14
  I
• 55:14
  think
• 55:14
  the.
• 55:15
  The
• 55:15
  sound
• 55:15
  of
• 55:16
  it
• 55:16
  is
• 55:16
  unmistakable.
• 55:17
  And
• 55:17
  when
• 55:17
  they're
• 55:17
  going
• 55:18
  really
• 55:18
  fast,
• 55:18
  it's
• 55:18
  like
• 55:19
  you're
• 55:19
  watching,
• 55:19
  you
• 55:19
  know,
• 55:20
  the
• 55:20
  X
• 55:20
  Wings
• 55:20
  in
• 55:20
  Star
• 55:21
  Wars.
• 55:21
  It's
• 55:21
  pretty
• 55:22
  amazing
• 55:22
  stuff.
• 55:23
  So
• 55:23
  that's.
• 55:24
  That's
• 55:24
  my
• 55:24
  endorsement.
• 55:25
  It's
• 55:25
  a
• 55:25
  spectacle
• 55:25
  and.
• 55:27
  But
• 55:27
  you
• 55:27
  don't
• 55:27
  have
• 55:27
  to
• 55:28
  take
• 55:28
  part
• 55:28
  in,
• 55:29
  you
• 55:29
  know,
• 55:29
  the
• 55:30
  one
• 55:30
  thing
• 55:30
  you
• 55:31
  can.
• 55:31
  You
• 55:31
  can
• 55:31
  be
• 55:31
  part
• 55:32
  of
• 55:32
  it
• 55:32
  in
• 55:32
  lots
• 55:32
  of
• 55:32
  different
• 55:32
  ways.
• 55:33
  Well,
• 55:33
  you
• 55:33
  had
• 55:34
  me
• 55:34
  at
• 55:34
  X
• 55:34
  Wing,
• 55:35
  so.
• 55:35
  Yeah,
• 55:35
  exactly.
• 55:36
  Exactly.
• 55:37
  All
• 55:37
  right,
• 55:37
  well,
• 55:38
  so
• 55:38
  our
• 55:38
  last
• 55:38
  question.
• 55:39
  I
• 55:40
  know
• 55:40
  you're
• 55:40
  a
• 55:40
  movie
• 55:40
  buff.
• 55:41
  Summer
• 55:41
  movies,
• 55:42
  2026.
• 55:43
  What
• 55:43
  are.
• 55:43
  What
• 55:44
  are
• 55:44
  you
• 55:44
  looking
• 55:44
  forward
• 55:44
  to?
• 55:45
  Speaking
• 55:45
  of
• 55:45
  X
• 55:45
  Wings.
• 55:46
  Yeah.
• 55:47
  Well,
• 55:47
  I
• 55:47
  just
• 55:47
  saw
• 55:47
  the
• 55:48
  Mandalorian
• 55:48
  Grogu,
• 55:49
  which
• 55:49
  was
• 55:49
  actually
• 55:49
  better
• 55:50
  than
• 55:50
  my
• 55:50
  expectations.
• 55:51
  Have
• 55:51
  you
• 55:51
  seen
• 55:51
  that
• 55:51
  one?
• 55:51
  Are
• 55:52
  you
• 55:52
  going
• 55:52
  to
• 55:52
  go
• 55:52
  see?
• 55:52
  I
• 55:52
  have
• 55:52
  not.
• 55:53
  I
• 55:53
  have
• 55:53
  not
• 55:53
  seen
• 55:53
  it.
• 55:54
  There's
• 55:54
  a
• 55:54
  chance.
• 55:54
  Big
• 55:55
  baby
• 55:55
  Yoda
• 55:55
  fans
• 55:56
  in
• 55:56
  our
• 55:56
  house.
• 55:56
  So.
• 55:56
  Yeah.
• 55:57
  Yeah,
• 55:57
  it
• 55:57
  was
• 55:57
  better
• 55:57
  than
• 55:58
  I
• 55:58
  expected.
• 55:58
  My
• 55:58
  wife
• 55:59
  and
• 55:59
  I
• 55:59
  both
• 55:59
  liked
• 55:59
  it.
• 55:59
  We
• 55:59
  both.
• 56:00
  My
• 56:00
  kids
• 56:00
  were
• 56:00
  like,
• 56:00
  yeah,
• 56:01
  it's
• 56:01
  all
• 56:01
  right,
• 56:01
  dad.
• 56:01
  But
• 56:01
  I
• 56:02
  was
• 56:02
  like,
• 56:02
  yeah,
• 56:02
  that
• 56:02
  was
• 56:02
  really
• 56:02
  good.
• 56:03
  I
• 56:03
  liked
• 56:03
  it
• 56:03
  a
• 56:03
  lot.
• 56:03
  And
• 56:03
  did
• 56:04
  you
• 56:04
  watch
• 56:04
  the
• 56:04
  whole.
• 56:05
  Did
• 56:05
  you
• 56:05
  watch
• 56:05
  Mandalorian
• 56:06
  also?
• 56:07
  Yes,
• 56:07
  yes.
• 56:07
  Okay.
• 56:08
  All
• 56:08
  right.
• 56:08
  Yes.
• 56:09
  Yes.
• 56:09
  All
• 56:09
  right.
• 56:09
  So
• 56:09
  that's
• 56:10
  part
• 56:10
  of
• 56:10
  it.
• 56:10
  Yeah.
• 56:11
  100%.
• 56:11
  Yeah.
• 56:11
  No,
• 56:12
  so,
• 56:12
  yeah,
• 56:12
  I
• 56:12
  was
• 56:12
  deep,
• 56:12
  you
• 56:13
  know,
• 56:13
  steeped
• 56:13
  into
• 56:13
  it
• 56:13
  and.
• 56:14
  Right,
• 56:14
  right.
• 56:14
  I
• 56:15
  play
• 56:15
  Star
• 56:15
  Wars,
• 56:15
  Galaxy
• 56:16
  of
• 56:16
  Heroes
• 56:16
  every
• 56:17
  day
• 56:17
  and
• 56:17
  a
• 56:18
  half
• 56:18
  for
• 56:18
  the
• 56:18
  last
• 56:18
  seven
• 56:18
  years
• 56:19
  for
• 56:19
  those
• 56:19
  listening.
• 56:20
  But
• 56:20
  okay.
• 56:21
  But
• 56:21
  yeah,
• 56:21
  no,
• 56:21
  the
• 56:21
  movie,
• 56:22
  I
• 56:22
  probably
• 56:22
  most.
• 56:22
  I
• 56:23
  can't
• 56:23
  ever
• 56:23
  remember
• 56:23
  the
• 56:24
  name
• 56:24
  of
• 56:24
  it
• 56:24
  though.
• 56:24
  And
• 56:25
  I
• 56:25
  feel
• 56:25
  like
• 56:25
  such
• 56:25
  a,
• 56:26
  like
• 56:27
  kind
• 56:27
  of
• 56:27
  poser,
• 56:27
  movie
• 56:28
  buff,
• 56:28
  nerd.
• 56:30
  But
• 56:30
  the
• 56:31
  movie,
• 56:31
  the
• 56:31
  Steven
• 56:31
  Spielberg
• 56:32
  movie
• 56:32
  that's
• 56:32
  coming
• 56:32
  out.
• 56:33
  Oh,
• 56:33
  the
• 56:34
  aliens
• 56:34
  one?
• 56:34
  Yeah,
• 56:35
  yeah.
• 56:35
  I
• 56:35
  can't
• 56:35
  remember
• 56:36
  what
• 56:36
  it's
• 56:36
  called.
• 56:37
  I
• 56:37
  was.
• 56:37
  Oh
• 56:37
  my
• 56:37
  gosh,
• 56:38
  the
• 56:38
  Arrival.
• 56:38
  But
• 56:39
  like,
• 56:39
  but
• 56:40
  like,
• 56:40
  yeah,
• 56:40
  if
• 56:40
  Spielberg
• 56:41
  can
• 56:41
  give
• 56:41
  us
• 56:42
  back
• 56:42
  what
• 56:43
  made
• 56:43
  him
• 56:43
  great,
• 56:44
  like
• 56:44
  with
• 56:44
  a
• 56:45
  movie
• 56:45
  like
• 56:45
  that,
• 56:45
  I'm
• 56:46
  pretty,
• 56:46
  you
• 56:46
  know,
• 56:46
  if
• 56:47
  he
• 56:47
  can
• 56:47
  get
• 56:47
  into
• 56:47
  the
• 56:47
  Jaws,
• 56:49
  the
• 56:49
  Close
• 56:49
  Encounters,
• 56:49
  the
• 56:50
  Poltergeist
• 56:50
  realm
• 56:51
  again,
• 56:51
  like
• 56:53
  I'd
• 56:53
  be
• 56:53
  pretty
• 56:53
  pumped
• 56:54
  for
• 56:54
  that.
• 56:54
  Like,
• 56:54
  I
• 56:54
  feel
• 56:54
  like,
• 56:55
  I
• 56:55
  feel
• 56:55
  like
• 56:55
  my,
• 56:56
  my
• 56:56
  mind,
• 56:57
  my
• 56:57
  psyche
• 56:58
  needs
• 56:58
  some
• 56:59
  Steven
• 56:59
  Spielberg
• 57:00
  great
• 57:01
  scare,
• 57:02
  you
• 57:03
  know,
• 57:03
  to
• 57:04
  it
• 57:04
  this
• 57:04
  summer.
• 57:04
  I
• 57:04
  think
• 57:05
  it'll
• 57:05
  be
• 57:05
  fabulous.
• 57:06
  Yeah,
• 57:07
  yeah.
• 57:07
  Emily
• 57:08
  Blunt's
• 57:08
  in
• 57:08
  it.
• 57:09
  Yeah,
• 57:09
  it's.
• 57:10
  I'm
• 57:10
  totally
• 57:10
  blanking
• 57:10
  on
• 57:11
  it.
• 57:11
  It's
• 57:11
  something
• 57:11
  day.
• 57:13
  Yeah,
• 57:13
  it
• 57:13
  is.
• 57:13
  Yeah,
• 57:14
  it's.
• 57:14
  What
• 57:14
  is.
• 57:14
  Yeah,
• 57:15
  it's
• 57:15
  like
• 57:15
  announcement
• 57:15
  day
• 57:16
  or
• 57:16
  something.
• 57:16
  I
• 57:16
  don't
• 57:16
  know.
• 57:16
  But
• 57:17
  yeah,
• 57:17
  yeah,
• 57:17
  yeah,
• 57:17
  yeah.
• 57:18
  But
• 57:18
  you
• 57:18
  know
• 57:18
  what
• 57:18
  I
• 57:18
  was
• 57:18
  talking
• 57:18
  about
• 57:19
  about,
• 57:19
  right?
• 57:19
  Yes,
• 57:19
  I
• 57:19
  do
• 57:19
  know
• 57:20
  what
• 57:20
  you're
• 57:20
  talking
• 57:20
  about.
• 57:21
  Looks
• 57:21
  terrifying
• 57:22
  for
• 57:22
  me,
• 57:23
  but
• 57:24
  it
• 57:24
  does
• 57:24
  remind
• 57:24
  me
• 57:24
  that
• 57:25
  my
• 57:25
  5
• 57:26
  year
• 57:26
  old
• 57:26
  son
• 57:26
  is
• 57:27
  more
• 57:27
  interested
• 57:28
  in
• 57:28
  really
• 57:29
  scary
• 57:29
  movies
• 57:30
  than
• 57:30
  I
• 57:30
  would
• 57:31
  have
• 57:31
  thought.
• 57:31
  And
• 57:32
  I
• 57:32
  think
• 57:32
  the
• 57:32
  next
• 57:33
  one
• 57:33
  we're
• 57:33
  gonna
• 57:33
  watch
• 57:33
  is
• 57:34
  Jurassic
• 57:34
  park,
• 57:35
  which
• 57:35
  I
• 57:35
  find
• 57:36
  to
• 57:36
  be
• 57:37
  terrifying
• 57:37
  and
• 57:38
  a
• 57:38
  horrifying
• 57:39
  movie.
• 57:39
  I
• 57:39
  mean,
• 57:40
  thought
• 57:40
  there'd
• 57:40
  be
• 57:41
  more
• 57:41
  hijinks.
• 57:41
  It's
• 57:42
  just
• 57:42
  plain
• 57:42
  terrifying
• 57:43
  the
• 57:43
  entire
• 57:43
  time.
• 57:44
  And
• 57:44
  so
• 57:44
  it'll
• 57:45
  be
• 57:45
  a
• 57:45
  real
• 57:45
  test
• 57:46
  of
• 57:46
  whether
• 57:46
  he
• 57:46
  can
• 57:47
  withstand
• 57:47
  it.
• 57:47
  Speaking
• 57:47
  of
• 57:48
  field.
• 57:49
  Okay,
• 57:49
  that's
• 57:49
  interesting.
• 57:50
  I
• 57:50
  didn't
• 57:50
  know
• 57:50
  we're
• 57:50
  going
• 57:50
  to
• 57:50
  go
• 57:50
  there.
• 57:51
  Okay.
• 57:51
  Yeah.
• 57:51
  Jurassic
• 57:52
  Park.
• 57:52
  So
• 57:53
  that
• 57:53
  gets,
• 57:53
  that
• 57:53
  gets
• 57:54
  you
• 57:54
  going.
• 57:54
  That
• 57:54
  gets,
• 57:55
  that
• 57:55
  gets
• 57:55
  Laura's
• 57:55
  tension
• 57:56
  up.
• 57:57
  Oh
• 57:57
  well,
• 57:57
  it's
• 57:58
  so
• 57:58
  scary.
• 57:58
  I
• 57:58
  mean,
• 57:59
  I
• 57:59
  think
• 57:59
  I
• 58:00
  thought
• 58:01
  my,
• 58:01
  my
• 58:02
  secret
• 58:02
  is
• 58:02
  that
• 58:02
  I
• 58:03
  didn't
• 58:03
  see
• 58:03
  Jurassic
• 58:03
  park
• 58:04
  until
• 58:04
  I
• 58:04
  was
• 58:04
  an
• 58:04
  adult.
• 58:05
  I
• 58:05
  didn't
• 58:05
  see
• 58:05
  it
• 58:05
  when
• 58:05
  I
• 58:05
  was
• 58:06
  a
• 58:06
  kid.
• 58:06
  I'm
• 58:07
  not
• 58:07
  sure
• 58:07
  if
• 58:07
  maybe
• 58:07
  I
• 58:08
  just
• 58:08
  was
• 58:09
  too
• 58:09
  afraid
• 58:10
  or
• 58:10
  what
• 58:10
  it
• 58:10
  was.
• 58:12
  So
• 58:12
  I
• 58:12
  saw
• 58:12
  it
• 58:12
  and
• 58:13
  I
• 58:13
  just
• 58:13
  had
• 58:14
  the
• 58:14
  impression
• 58:15
  there
• 58:15
  was
• 58:15
  going
• 58:15
  to
• 58:15
  be
• 58:15
  a
• 58:16
  much
• 58:16
  larger
• 58:16
  percentage
• 58:17
  of
• 58:17
  sort
• 58:17
  of
• 58:17
  dinosaur
• 58:18
  hijinks.
• 58:19
  And
• 58:20
  then,
• 58:20
  you
• 58:21
  know,
• 58:21
  some
• 58:21
  scary
• 58:22
  stuff
• 58:22
  in
• 58:23
  the
• 58:23
  back
• 58:23
  third
• 58:23
  maybe.
• 58:24
  Right,
• 58:24
  but
• 58:25
  it's
• 58:25
  like
• 58:25
  three
• 58:26
  quarters
• 58:27
  scary,
• 58:27
  you
• 58:28
  know,
• 58:28
  Tyrannosaurus
• 58:29
  rex,
• 58:30
  the,
• 58:30
  the,
• 58:30
  the
• 58:30
  vibrating
• 58:31
  water
• 58:32
  stuff
• 58:33
  and
• 58:34
  very
• 58:34
  little
• 58:34
  Samuel
• 58:35
  Jackson,
• 58:36
  you
• 58:36
  know,
• 58:36
  in
• 58:36
  comparison.
• 58:37
  So
• 58:37
  I,
• 58:38
  Yeah,
• 58:38
  so
• 58:39
  I,
• 58:40
  I
• 58:40
  just
• 58:41
  remember
• 58:41
  finishing
• 58:42
  that
• 58:42
  movie
• 58:42
  and
• 58:42
  thinking
• 58:43
  Wow.
• 58:43
  I.
• 58:43
  I
• 58:44
  did
• 58:44
  not
• 58:44
  know.
• 58:44
  This
• 58:44
  is
• 58:44
  going
• 58:45
  to
• 58:45
  be
• 58:45
  so
• 58:45
  terrifying,
• 58:46
  so.
• 58:46
  Well,
• 58:46
  the
• 58:47
  tbd.
• 58:47
  I'll
• 58:48
  report
• 58:48
  back
• 58:48
  next
• 58:48
  time
• 58:49
  on
• 58:49
  whether
• 58:49
  my.
• 58:49
  My
• 58:50
  son
• 58:50
  comes
• 58:50
  out
• 58:50
  of
• 58:50
  it
• 58:51
  unscathed.
• 58:52
  I've
• 58:52
  never.
• 58:53
  I've
• 58:53
  never
• 58:53
  heard
• 58:53
  anyone
• 58:54
  describe
• 58:54
  Jurassic
• 58:55
  park
• 58:55
  that
• 58:55
  way.
• 58:55
  It's
• 58:55
  so
• 58:56
  amazing.
• 58:56
  What.
• 58:57
  What
• 58:57
  scares
• 58:58
  us
• 58:58
  as
• 58:59
  individuals
• 58:59
  relative
• 59:00
  to
• 59:00
  one
• 59:00
  another.
• 59:00
  You
• 59:00
  know,
• 59:01
  like
• 59:01
  you
• 59:01
  said,
• 59:01
  I
• 59:01
  think
• 59:01
  it's.
• 59:02
  It's
• 59:03
  very
• 59:03
  tense
• 59:04
  the
• 59:04
  whole
• 59:04
  time.
• 59:04
  Oh,
• 59:05
  yeah,
• 59:05
  it's
• 59:05
  very
• 59:05
  intense.
• 59:05
  Yeah.
• 59:06
  I
• 59:06
  thought
• 59:06
  there'd
• 59:06
  be
• 59:07
  a
• 59:07
  little
• 59:07
  more,
• 59:07
  you
• 59:07
  know.
• 59:08
  Yeah.
• 59:09
  The
• 59:09
  water
• 59:09
  bouncing
• 59:10
  up
• 59:10
  in
• 59:10
  the
• 59:10
  car
• 59:10
  is.
• 59:11
  That's
• 59:11
  such
• 59:11
  a
• 59:11
  great
• 59:11
  visual,
• 59:12
  that
• 59:12
  guy.
• 59:12
  That's
• 59:12
  why
• 59:12
  he's
• 59:13
  so
• 59:13
  good.
• 59:13
  Yes,
• 59:14
  exactly.
• 59:14
  Exactly.
• 59:15
  So
• 59:15
  good.
• 59:15
  He's
• 59:16
  the
• 59:16
  master.
• 59:16
  That's
• 59:16
  why
• 59:16
  I'm
• 59:16
  hoping
• 59:17
  we
• 59:17
  can
• 59:17
  get
• 59:17
  the
• 59:17
  master
• 59:18
  back
• 59:18
  at
• 59:18
  his
• 59:18
  craft
• 59:19
  again.
• 59:19
  That
• 59:19
  would
• 59:19
  be
• 59:19
  fantastic.
• 59:20
  Not
• 59:20
  that.
• 59:20
  Not
• 59:20
  to
• 59:21
  say
• 59:21
  he
• 59:21
  hasn't
• 59:21
  done
• 59:21
  great
• 59:22
  stuff,
• 59:22
  but,
• 59:22
  like.
• 59:22
  No,
• 59:23
  I
• 59:23
  want.
• 59:24
  I
• 59:24
  want
• 59:24
  him
• 59:24
  to
• 59:24
  do
• 59:24
  that
• 59:25
  again.
• 59:25
  That
• 59:25
  would
• 59:25
  be
• 59:25
  great.
• 59:26
  All
• 59:26
  right,
• 59:26
  well,
• 59:26
  today's
• 59:27
  podcast
• 59:27
  was
• 59:27
  produced
• 59:28
  with
• 59:28
  the
• 59:28
  help
• 59:28
  and
• 59:28
  support,
• 59:28
  of
• 59:29
  course,
• 59:29
  of
• 59:29
  Ella.
• 59:30
  Sir
• 59:30
  Yard
• 59:30
  Producer
• 59:31
  Ella,
• 59:31
  come
• 59:31
  on
• 59:31
  in
• 59:31
  here.
• 59:32
  I'm
• 59:32
  not
• 59:32
  even
• 59:33
  going
• 59:33
  to
• 59:33
  try
• 59:33
  to
• 59:33
  guess
• 59:33
  this
• 59:33
  week
• 59:34
  because
• 59:34
  this
• 59:34
  week
• 59:34
  was.
• 59:35
  This
• 59:35
  week
• 59:35
  was
• 59:36
  interesting.
• 59:36
  There's
• 59:36
  just
• 59:36
  so
• 59:37
  much
• 59:37
  happening
• 59:37
  and
• 59:38
  changing
• 59:38
  that
• 59:39
  I
• 59:39
  can't
• 59:39
  even
• 59:39
  predict
• 59:40
  where
• 59:40
  your
• 59:40
  head
• 59:40
  is
• 59:40
  going
• 59:40
  to
• 59:40
  go
• 59:41
  anymore.
• 59:41
  So
• 59:41
  what.
• 59:41
  What.
• 59:42
  What
• 59:42
  headline,
• 59:42
  which
• 59:43
  discussion
• 59:43
  won
• 59:43
  the
• 59:43
  week
• 59:44
  for
• 59:44
  you
• 59:44
  this
• 59:44
  week,
• 59:44
  Producer
• 59:45
  Ella?
• 59:45
  Yeah,
• 59:46
  well,
• 59:46
  before
• 59:46
  I
• 59:47
  jump
• 59:47
  into
• 59:47
  that,
• 59:47
  Chris,
• 59:48
  you'll
• 59:48
  be
• 59:48
  shocked
• 59:48
  to
• 59:49
  know
• 59:49
  that
• 59:49
  I
• 59:49
  know
• 59:49
  the
• 59:49
  name
• 59:50
  of
• 59:50
  the
• 59:50
  movie
• 59:50
  you
• 59:50
  guys
• 59:50
  were
• 59:50
  talking
• 59:51
  about,
• 59:51
  and
• 59:51
  it's
• 59:52
  Disclosure
• 59:52
  Day.
• 59:53
  Disclosure
• 59:54
  day.
• 59:54
  Disclosure.
• 59:56
  There
• 59:56
  it
• 59:56
  is.
• 59:57
  No,
• 59:58
  but
• 59:58
  the
• 59:58
  winner
• 59:58
  this
• 59:59
  week
• 59:59
  is
• 1:00:00
  Radar
• 1:00:00
  Reaching
• 1:00:00
  unicorn
• 1:00:01
  status,
• 1:00:01
  and
• 1:00:02
  for
• 1:00:02
  two
• 1:00:02
  reasons.
• 1:00:03
  First
• 1:00:03
  of
• 1:00:04
  all,
• 1:00:04
  unicorn
• 1:00:05
  status.
• 1:00:05
  I
• 1:00:05
  mean,
• 1:00:06
  that
• 1:00:06
  might
• 1:00:06
  be
• 1:00:06
  the
• 1:00:06
  most
• 1:00:06
  amazing
• 1:00:07
  business
• 1:00:07
  term
• 1:00:08
  ever.
• 1:00:09
  Obsessed
• 1:00:09
  with
• 1:00:09
  that.
• 1:00:10
  Yeah,
• 1:00:10
  Right.
• 1:00:11
  The
• 1:00:11
  second
• 1:00:11
  is
• 1:00:12
  I'm
• 1:00:12
  just
• 1:00:12
  really
• 1:00:13
  excited
• 1:00:13
  to
• 1:00:13
  hear
• 1:00:13
  what
• 1:00:14
  Spencer
• 1:00:14
  has
• 1:00:14
  to
• 1:00:14
  say
• 1:00:15
  next
• 1:00:15
  week.
• 1:00:15
  I
• 1:00:16
  feel
• 1:00:16
  like
• 1:00:16
  it's
• 1:00:16
  incredibly
• 1:00:17
  timely,
• 1:00:17
  and
• 1:00:18
  it'll
• 1:00:18
  just
• 1:00:18
  be
• 1:00:18
  interesting
• 1:00:19
  to
• 1:00:19
  hear
• 1:00:19
  from
• 1:00:20
  the
• 1:00:20
  man
• 1:00:20
  himself
• 1:00:20
  about
• 1:00:21
  the
• 1:00:21
  ins
• 1:00:21
  and
• 1:00:21
  outs
• 1:00:22
  of
• 1:00:22
  the
• 1:00:22
  future
• 1:00:23
  of
• 1:00:23
  physical
• 1:00:24
  AI
• 1:00:24
  in
• 1:00:24
  retail.
• 1:00:25
  So
• 1:00:25
  this
• 1:00:25
  is
• 1:00:26
  my
• 1:00:26
  plug
• 1:00:26
  to
• 1:00:26
  stay
• 1:00:26
  tuned
• 1:00:27
  for
• 1:00:27
  next
• 1:00:27
  week.
• 1:00:28
  Yeah.
• 1:00:28
  Wow.
• 1:00:29
  Yeah.
• 1:00:29
  Well,
• 1:00:29
  nicely
• 1:00:29
  done,
• 1:00:29
  Ella.
• 1:00:30
  Nicely
• 1:00:30
  done.
• 1:00:30
  We
• 1:00:30
  didn't
• 1:00:30
  even
• 1:00:31
  talk
• 1:00:31
  about
• 1:00:31
  that,
• 1:00:31
  but,
• 1:00:31
  yeah,
• 1:00:31
  that's
• 1:00:32
  great.
• 1:00:32
  Yeah,
• 1:00:32
  no,
• 1:00:32
  we're.
• 1:00:32
  Yeah,
• 1:00:32
  we're
• 1:00:33
  gonna.
• 1:00:33
  Yeah,
• 1:00:33
  we're
• 1:00:33
  gonna
• 1:00:34
  be
• 1:00:34
  interviewing
• 1:00:34
  him
• 1:00:34
  very
• 1:00:34
  shortly,
• 1:00:35
  and
• 1:00:35
  I.
• 1:00:35
  I.
• 1:00:36
  Every
• 1:00:36
  time
• 1:00:36
  I
• 1:00:36
  interview
• 1:00:36
  Spencer,
• 1:00:37
  too,
• 1:00:37
  I
• 1:00:37
  have
• 1:00:37
  no
• 1:00:37
  idea
• 1:00:37
  which
• 1:00:38
  way
• 1:00:38
  he's
• 1:00:38
  gonna
• 1:00:38
  go
• 1:00:38
  or
• 1:00:38
  what
• 1:00:39
  curveballs
• 1:00:39
  he's
• 1:00:39
  gonna
• 1:00:40
  throw
• 1:00:40
  me,
• 1:00:40
  too.
• 1:00:40
  So
• 1:00:40
  this
• 1:00:40
  one's
• 1:00:41
  gonna
• 1:00:41
  be
• 1:00:41
  a
• 1:00:41
  fun
• 1:00:41
  one,
• 1:00:41
  but
• 1:00:42
  we
• 1:00:42
  got
• 1:00:42
  to
• 1:00:42
  keep
• 1:00:42
  it
• 1:00:42
  to
• 1:00:42
  five
• 1:00:43
  minutes,
• 1:00:43
  though.
• 1:00:43
  Roughly.
• 1:00:44
  So
• 1:00:44
  we'll
• 1:00:44
  see
• 1:00:44
  what.
• 1:00:44
  See
• 1:00:44
  what
• 1:00:45
  we
• 1:00:45
  can
• 1:00:45
  do.
• 1:00:45
  So.
• 1:00:46
  All
• 1:00:46
  right,
• 1:00:46
  well,
• 1:00:46
  that
• 1:00:46
  closes
• 1:00:47
  us
• 1:00:47
  up.
• 1:00:47
  Happy
• 1:00:48
  birthday
• 1:00:48
  today
• 1:00:48
  to
• 1:00:49
  Benny
• 1:00:49
  Beldman,
• 1:00:50
  Joseph
• 1:00:51
  Bines,
• 1:00:51
  and
• 1:00:51
  to
• 1:00:51
  Mr.
• 1:00:52
  Jennifer
• 1:00:52
  Connelly,
• 1:00:53
  Paul
• 1:00:54
  Bettney.
• 1:00:55
  And
• 1:00:55
  remember,
• 1:00:55
  if
• 1:00:55
  you
• 1:00:55
  can
• 1:00:56
  only
• 1:00:56
  read
• 1:00:56
  or
• 1:00:57
  listen
• 1:00:57
  one
• 1:00:58
  retail
• 1:00:58
  blog
• 1:00:59
  in
• 1:00:59
  the
• 1:00:59
  business,
• 1:00:59
  make
• 1:01:00
  it
• 1:01:00
  omnitalk.
• 1:01:00
  Our
• 1:01:01
  Fast
• 1:01:01
  five
• 1:01:01
  podcast
• 1:01:01
  is
• 1:01:02
  the
• 1:01:02
  quickest,
• 1:01:02
  fastest
• 1:01:02
  rundown
• 1:01:03
  of
• 1:01:03
  all
• 1:01:03
  the
• 1:01:04
  top
• 1:01:04
  news.
• 1:01:04
  And
• 1:01:04
  our
• 1:01:04
  daily
• 1:01:05
  newsletter,
• 1:01:05
  the
• 1:01:05
  Retail
• 1:01:05
  Daily
• 1:01:06
  Minute,
• 1:01:06
  tells
• 1:01:06
  you
• 1:01:06
  all
• 1:01:06
  you
• 1:01:07
  need
• 1:01:07
  to
• 1:01:07
  know
• 1:01:07
  each
• 1:01:07
  day
• 1:01:07
  to
• 1:01:08
  stay
• 1:01:08
  on
• 1:01:08
  top
• 1:01:08
  of
• 1:01:08
  your
• 1:01:09
  game
• 1:01:09
  as
• 1:01:09
  a
• 1:01:09
  retail
• 1:01:09
  executive
• 1:01:10
  and
• 1:01:10
  also
• 1:01:10
  regularly
• 1:01:10
  feature
• 1:01:11
  special
• 1:01:11
  content
• 1:01:12
  that
• 1:01:12
  is
• 1:01:12
  exclusive
• 1:01:13
  to
• 1:01:13
  us
• 1:01:13
  and
• 1:01:13
  that,
• 1:01:14
  as
• 1:01:14
  you
• 1:01:14
  can
• 1:01:14
  tell,
• 1:01:15
  producer
• 1:01:15
  at
• 1:01:15
  Ella
• 1:01:16
  and
• 1:01:16
  I
• 1:01:16
  take
• 1:01:16
  a
• 1:01:16
  lot
• 1:01:16
  of
• 1:01:16
  pride
• 1:01:17
  in
• 1:01:17
  doing
• 1:01:17
  just
• 1:01:17
  for
• 1:01:18
  you.
• 1:01:18
  Thanks
• 1:01:18
  as
• 1:01:18
  always
• 1:01:18
  for
• 1:01:19
  listening
• 1:01:19
  in.
• 1:01:19
  Please
• 1:01:19
  remember
• 1:01:20
  to
• 1:01:20
  like
• 1:01:20
  or
• 1:01:20
  leave
• 1:01:20
  us
• 1:01:20
  a
• 1:01:20
  review
• 1:01:21
  wherever
• 1:01:21
  you
• 1:01:21
  happen
• 1:01:21
  to
• 1:01:22
  listen
• 1:01:22
  to
• 1:01:22
  your
• 1:01:22
  podcast
• 1:01:22
  or
• 1:01:23
  on
• 1:01:23
  YouTube.
• 1:01:23
  You
• 1:01:24
  can
• 1:01:24
  follow
• 1:01:24
  us
• 1:01:24
  today
• 1:01:24
  by
• 1:01:25
  simply
• 1:01:25
  going
• 1:01:25
  to
• 1:01:25
  YouTube.com
• 1:01:27
  omnitalkretail
• 1:01:28
  Laura,
• 1:01:28
  if
• 1:01:29
  people
• 1:01:29
  want
• 1:01:29
  to
• 1:01:29
  get
• 1:01:29
  in
• 1:01:29
  touch
• 1:01:29
  with
• 1:01:29
  you,
• 1:01:29
  if
• 1:01:30
  they're
• 1:01:30
  like,
• 1:01:30
  hey,
• 1:01:32
  I
• 1:01:32
  want
• 1:01:32
  to
• 1:01:32
  get
• 1:01:32
  to
• 1:01:32
  know
• 1:01:32
  Laura.
• 1:01:33
  I
• 1:01:33
  want
• 1:01:33
  to
• 1:01:33
  ask
• 1:01:33
  her
• 1:01:33
  some
• 1:01:33
  questions,
• 1:01:34
  get
• 1:01:34
  some
• 1:01:34
  advice,
• 1:01:34
  what's
• 1:01:34
  the
• 1:01:35
  best
• 1:01:35
  way
• 1:01:35
  for
• 1:01:35
  them
• 1:01:35
  to
• 1:01:35
  do
• 1:01:35
  that?
• 1:01:37
  You
• 1:01:37
  can
• 1:01:37
  find
• 1:01:37
  me
• 1:01:37
  on
• 1:01:38
  LinkedIn.
• 1:01:38
  Laura
• 1:01:39
  Kennedy.
• 1:01:39
  I'm
• 1:01:40
  the
• 1:01:40
  one
• 1:01:40
  in
• 1:01:40
  Indianapolis
• 1:01:42
  so
• 1:01:42
  that,
• 1:01:42
  that
• 1:01:43
  there's
• 1:01:43
  a
• 1:01:43
  few
• 1:01:43
  of
• 1:01:44
  them
• 1:01:44
  on
• 1:01:44
  there,
• 1:01:44
  you
• 1:01:45
  may
• 1:01:45
  not
• 1:01:45
  be
• 1:01:45
  surprised
• 1:01:45
  to
• 1:01:46
  find
• 1:01:46
  out,
• 1:01:46
  but
• 1:01:46
  that's
• 1:01:46
  me.
• 1:01:47
  Yes,
• 1:01:48
  yes,
• 1:01:48
  yes.
• 1:01:48
  It's
• 1:01:48
  kind
• 1:01:49
  of
• 1:01:49
  a
• 1:01:49
  popular
• 1:01:49
  name,
• 1:01:49
  especially
• 1:01:50
  for
• 1:01:50
  our
• 1:01:50
  generation.
• 1:01:51
  All
• 1:01:51
  right,
• 1:01:51
  so
• 1:01:52
  until
• 1:01:52
  next
• 1:01:52
  week,
• 1:01:53
  and
• 1:01:53
  on
• 1:01:53
  behalf
• 1:01:53
  of
• 1:01:53
  all
• 1:01:54
  of
• 1:01:54
  us
• 1:01:54
  at
• 1:01:54
  Omnitalk
• 1:01:55
  Retail,
• 1:01:55
  as
• 1:01:55
  always,
• 1:01:56
  be
• 1:01:56
  careful
• 1:01:57
  out
• 1:01:57
  there.