1 00:00:07,960 --> 00:00:11,399 Speaker 1: Welcome to another episode of Strictly Business, the podcast in 2 00:00:11,440 --> 00:00:13,880 Speaker 1: which we speak with some of the smartest minds working 3 00:00:13,880 --> 00:00:18,079 Speaker 1: in the media business today. I'm Andrew Wallenstein with Variety. 4 00:00:18,760 --> 00:00:21,080 Speaker 1: We've got a two fur in today's episode, with two 5 00:00:21,120 --> 00:00:25,200 Speaker 1: of the more interesting conversations that emerged from varieties Annual 6 00:00:25,360 --> 00:00:28,880 Speaker 1: Entertainments of It at CES in Las Vegas earlier this month. 7 00:00:29,480 --> 00:00:32,440 Speaker 1: There's a through line through these two interviews. It's they're 8 00:00:32,520 --> 00:00:37,960 Speaker 1: both industry veterans who find themselves at new, high profile gigs. First, 9 00:00:38,040 --> 00:00:40,640 Speaker 1: there's Jeremy Gorman, whom they have heard of from her 10 00:00:40,720 --> 00:00:44,360 Speaker 1: days at Amazon or Snap. Now she's just months into 11 00:00:44,400 --> 00:00:48,080 Speaker 1: her new job as President of Worldwide Advertising a Netflix, 12 00:00:48,440 --> 00:00:51,240 Speaker 1: where she's leading the charge on the streaming services new 13 00:00:51,320 --> 00:00:55,600 Speaker 1: ad supported tier. Then we'll check in with Malik Ducard, 14 00:00:55,680 --> 00:00:58,760 Speaker 1: who's been at Pinterest for the past year as chief 15 00:00:58,840 --> 00:01:04,039 Speaker 1: content Officer after distinguished stints at YouTube in Paramount. Stick 16 00:01:04,080 --> 00:01:07,119 Speaker 1: around and we'll be right back. First with Jeremy Gorman. 17 00:01:15,200 --> 00:01:20,880 Speaker 1: We're back with Jeremy Gorman. Full disclosure, you are a 18 00:01:20,959 --> 00:01:25,200 Speaker 1: Variety alumnus. Am I mean technically this I'm I should 19 00:01:25,240 --> 00:01:29,520 Speaker 1: recuse myself because this plight, but I will maintain objectivity. 20 00:01:29,600 --> 00:01:31,960 Speaker 1: You have your Variety days were what like twenty years 21 00:01:32,000 --> 00:01:34,760 Speaker 1: ago at this point, or to two thousand seven. I 22 00:01:34,800 --> 00:01:37,880 Speaker 1: was there for the centennial, which is pretty remarkable for 23 00:01:38,000 --> 00:01:43,480 Speaker 1: Variety that it's a hundred and seventeen year old brands. Anyway, 24 00:01:43,520 --> 00:01:46,000 Speaker 1: you've gone on to some other things since, and the 25 00:01:46,040 --> 00:01:51,480 Speaker 1: little companies like Amazon and Snap and I'm just curious 26 00:01:51,520 --> 00:01:54,400 Speaker 1: to start. You know, a company like Netflix calls you up, 27 00:01:54,440 --> 00:01:57,920 Speaker 1: they're not even in this business of advertising, and they 28 00:01:57,960 --> 00:02:00,320 Speaker 1: say to you what they want to do. Are you 29 00:02:00,360 --> 00:02:05,160 Speaker 1: like huh or oh, I see the opportunity here? You know, 30 00:02:05,240 --> 00:02:08,120 Speaker 1: I think, like many people probably in this room, I 31 00:02:08,160 --> 00:02:10,720 Speaker 1: was a Netflix fan to begin with, and then there 32 00:02:10,760 --> 00:02:14,160 Speaker 1: was the announcement in April that that Netflix was getting 33 00:02:14,160 --> 00:02:16,840 Speaker 1: into the advertising business, and my husband looked at me 34 00:02:16,880 --> 00:02:19,120 Speaker 1: and said, you're going to do that job? And I 35 00:02:19,200 --> 00:02:21,200 Speaker 1: was like, well, they have to call me first, and then, 36 00:02:21,280 --> 00:02:24,120 Speaker 1: you know, then they did, and um I was I thought, 37 00:02:24,600 --> 00:02:28,280 Speaker 1: what an amazing opportunity to reach this engaged audience with 38 00:02:28,320 --> 00:02:31,520 Speaker 1: this extraordinary content in a place where marketers have never 39 00:02:31,520 --> 00:02:34,519 Speaker 1: been able to reach them before. So it felt kind 40 00:02:34,520 --> 00:02:37,200 Speaker 1: of like a no brainer. But it's it's just been 41 00:02:37,240 --> 00:02:40,239 Speaker 1: a remarkable nine whole weeks, by the way, So it's 42 00:02:40,240 --> 00:02:42,799 Speaker 1: been it's been really great. And I did say yes 43 00:02:42,919 --> 00:02:45,400 Speaker 1: very quickly, and now my husband's very happy that he 44 00:02:45,480 --> 00:02:50,399 Speaker 1: was right, all right, nostronomously married apparently, and so yes, 45 00:02:50,440 --> 00:02:54,280 Speaker 1: as you mentioned the the ad based version of Netflix, 46 00:02:54,360 --> 00:02:59,360 Speaker 1: you guys put out super fast with help some from Microsoft. Um, 47 00:02:59,440 --> 00:03:03,160 Speaker 1: how would you characterize these nine weeks because obviously, when 48 00:03:03,160 --> 00:03:07,519 Speaker 1: you move this fast, you're not necessarily loading up exactly 49 00:03:07,560 --> 00:03:10,000 Speaker 1: everything you want to be doing. That's right, Yeah, I 50 00:03:10,000 --> 00:03:12,280 Speaker 1: think that's part of what's been so interesting. Is there 51 00:03:12,280 --> 00:03:14,360 Speaker 1: really kind of two choices when you make a decision 52 00:03:14,400 --> 00:03:17,079 Speaker 1: of this magnitude. And I wasn't there when the decisions 53 00:03:17,080 --> 00:03:20,160 Speaker 1: were made to do the ad supported tier, obviously, but 54 00:03:20,320 --> 00:03:23,519 Speaker 1: you can either go very quickly and partner with somebody 55 00:03:23,560 --> 00:03:25,919 Speaker 1: like Microsoft, who has been extraordinary and we're on the 56 00:03:26,040 --> 00:03:30,000 Speaker 1: Zander stack, or take two years to do it perfectly. 57 00:03:30,040 --> 00:03:33,760 Speaker 1: And so the nine weeks have been really exciting a 58 00:03:33,800 --> 00:03:36,800 Speaker 1: lot of people, a lot of advertisers, marketers, analysts, everybody 59 00:03:37,040 --> 00:03:39,320 Speaker 1: wants to hear more about what we're doing. I would 60 00:03:39,320 --> 00:03:41,120 Speaker 1: say one of the things that's been interesting is we 61 00:03:41,160 --> 00:03:44,320 Speaker 1: did launch with m v P. We joke a little 62 00:03:44,320 --> 00:03:46,120 Speaker 1: bit and say we put the M in m v 63 00:03:46,200 --> 00:03:49,000 Speaker 1: P because we did it so quickly for the minimum 64 00:03:49,040 --> 00:03:51,600 Speaker 1: viable product, and we launched with fifteens and thirties, but 65 00:03:51,760 --> 00:03:55,160 Speaker 1: is definitely not representative of our long term ambition. So 66 00:03:55,200 --> 00:03:57,720 Speaker 1: it's been kind of it's both there's so much excitement 67 00:03:58,160 --> 00:04:02,400 Speaker 1: but also people way for the innovation that will be forthcoming. 68 00:04:02,920 --> 00:04:06,760 Speaker 1: Just you know, crawl, walk, run, really, so let's let's 69 00:04:07,000 --> 00:04:10,520 Speaker 1: we we have an idea of what the crawl is, 70 00:04:10,800 --> 00:04:12,840 Speaker 1: what is the what are you mentioned right now as 71 00:04:12,880 --> 00:04:16,400 Speaker 1: you're restricted to fifteen and thirties, What are the next 72 00:04:16,440 --> 00:04:19,760 Speaker 1: things that you're trying to bring onto the platform? I know, uh, 73 00:04:20,200 --> 00:04:24,000 Speaker 1: I believe ted Surranda talked about there might be different tiers, 74 00:04:24,279 --> 00:04:26,359 Speaker 1: not just one. What are some of the things that 75 00:04:26,400 --> 00:04:29,320 Speaker 1: we could look for in three on the ad platform 76 00:04:29,600 --> 00:04:34,040 Speaker 1: twenty seconds big innovation, not you know, we we did 77 00:04:34,080 --> 00:04:38,160 Speaker 1: it in Spain already. Um, kind of sticking with the 78 00:04:38,200 --> 00:04:40,640 Speaker 1: more standard AD formats in the short term, but then 79 00:04:40,720 --> 00:04:43,360 Speaker 1: over the long term, I think really having the experience 80 00:04:43,360 --> 00:04:48,039 Speaker 1: be more integrated into overall Netflix. Not necessarily from a 81 00:04:48,040 --> 00:04:50,320 Speaker 1: product place my perspective, but what I mean by that is, 82 00:04:50,360 --> 00:04:53,280 Speaker 1: I think we have so much tonnage in terms of 83 00:04:53,279 --> 00:04:57,200 Speaker 1: hours time spent with the platform, binge behavior, et cetera, 84 00:04:57,520 --> 00:04:59,800 Speaker 1: that it gives us a really unique opportunity to be 85 00:04:59,839 --> 00:05:03,760 Speaker 1: a will to target really differently. UM. Examples of that 86 00:05:03,800 --> 00:05:07,040 Speaker 1: would be not only by genre, which everybody can do, 87 00:05:07,080 --> 00:05:09,440 Speaker 1: but I think different things, um in terms of dynamic 88 00:05:09,480 --> 00:05:13,760 Speaker 1: insertion of ads near moments that are relevant to marketers. UM. 89 00:05:13,800 --> 00:05:15,760 Speaker 1: I'm making this up as I as I talk here, 90 00:05:15,839 --> 00:05:18,560 Speaker 1: but something like an advertiser that would want to be 91 00:05:18,600 --> 00:05:22,840 Speaker 1: surrounded by uh, surrounding each gift giving moment no matter 92 00:05:22,920 --> 00:05:25,440 Speaker 1: the content. We have the opportunity to do those kinds 93 00:05:25,480 --> 00:05:28,760 Speaker 1: of things, uh, single show sponsorships, and then we are 94 00:05:28,800 --> 00:05:31,080 Speaker 1: going to really change the world and allow people to 95 00:05:31,120 --> 00:05:34,480 Speaker 1: target by age and gender. I hear that's a new 96 00:05:34,520 --> 00:05:39,880 Speaker 1: innovation exactly, but that's new for Netflix to actually really 97 00:05:39,880 --> 00:05:42,560 Speaker 1: just even the operation were even collecting that information is 98 00:05:42,600 --> 00:05:45,039 Speaker 1: new for Netflix, and so getting to a place where 99 00:05:45,040 --> 00:05:47,480 Speaker 1: we have scale so that we can targe target by 100 00:05:47,520 --> 00:05:50,440 Speaker 1: age and gender. But I think the really creative things 101 00:05:50,880 --> 00:05:54,640 Speaker 1: are content based. I mean I Netflix is going to 102 00:05:54,720 --> 00:05:57,360 Speaker 1: be doing their earnings results in another week or two. 103 00:05:57,400 --> 00:06:00,960 Speaker 1: This will be the first time they're talking about I 104 00:06:01,279 --> 00:06:05,080 Speaker 1: assume they'll they'll share how things have progressed. There's been 105 00:06:05,120 --> 00:06:08,400 Speaker 1: some data, third party data, not Netflix's own data, that 106 00:06:08,440 --> 00:06:12,920 Speaker 1: have suggested that the initial uptake has been a little underwhelming. 107 00:06:13,520 --> 00:06:17,599 Speaker 1: Uh are their concerns or is their patients or perhaps 108 00:06:17,640 --> 00:06:20,880 Speaker 1: I'm mis characterizing it, and your data says you know, 109 00:06:21,120 --> 00:06:25,280 Speaker 1: this new subscription is flying like hotcakes because we were 110 00:06:25,320 --> 00:06:27,920 Speaker 1: reporting in a couple of weeks. I can't answer that directly, 111 00:06:27,960 --> 00:06:31,000 Speaker 1: but I can tell you that we are. We're pleased 112 00:06:31,040 --> 00:06:33,720 Speaker 1: with the growth that we're seeing in the tier, and 113 00:06:33,839 --> 00:06:35,760 Speaker 1: I you would be able to tell if I was 114 00:06:35,920 --> 00:06:38,800 Speaker 1: a concerned human. I wear it on my face. Yeah so, 115 00:06:40,120 --> 00:06:42,240 Speaker 1: but yeah, good to know the future. We're not breaking 116 00:06:42,240 --> 00:06:44,760 Speaker 1: it out, and given the timing with earnings, apologies, I 117 00:06:44,800 --> 00:06:47,880 Speaker 1: can't be more more direct there. Okay, I mean I 118 00:06:47,920 --> 00:06:49,679 Speaker 1: think the thing that people are going to be looking 119 00:06:49,720 --> 00:06:56,080 Speaker 1: for analysts, investors is there is risk that too many 120 00:06:56,240 --> 00:06:59,919 Speaker 1: subscribers who are already paying more than they might be 121 00:07:00,000 --> 00:07:03,000 Speaker 1: paying on the ad supported plan could sort of downshift 122 00:07:03,279 --> 00:07:08,920 Speaker 1: and you could essentially cannibalize that core audience. And that's 123 00:07:08,920 --> 00:07:11,720 Speaker 1: where your subscribers are going to come from instead of 124 00:07:12,320 --> 00:07:14,280 Speaker 1: new people coming on, because that's really the name of 125 00:07:14,320 --> 00:07:16,840 Speaker 1: the game here. The growth of Netflix, I think has 126 00:07:16,960 --> 00:07:20,640 Speaker 1: moderated somewhat after a rocket ride for many years. This 127 00:07:20,720 --> 00:07:24,480 Speaker 1: will hopefully bring people in a new barrier, a lower barrier, 128 00:07:24,520 --> 00:07:28,600 Speaker 1: I should say, So, are you seeing signs? Are are 129 00:07:28,640 --> 00:07:31,160 Speaker 1: you I know you're not going to share data right now, 130 00:07:31,600 --> 00:07:36,120 Speaker 1: but are there early indications that you are bringing in 131 00:07:36,200 --> 00:07:40,160 Speaker 1: new people as well as maybe not as uh, you know, 132 00:07:40,440 --> 00:07:43,920 Speaker 1: being such a cannibalizer. Yeah, it's it's really the whole 133 00:07:43,920 --> 00:07:46,920 Speaker 1: goal of it is customer choice, So for people to 134 00:07:46,920 --> 00:07:50,120 Speaker 1: be able to shift between plans and platforms essentially based 135 00:07:50,120 --> 00:07:52,560 Speaker 1: on what they want to pay. And in this particular 136 00:07:52,600 --> 00:07:55,480 Speaker 1: macro environment, I think you're going to see a reasonable 137 00:07:55,480 --> 00:07:58,840 Speaker 1: amount of both people who want to consolidate their overall 138 00:07:58,880 --> 00:08:01,760 Speaker 1: streaming bill inclusive of all of the other streaming services 139 00:08:02,080 --> 00:08:04,200 Speaker 1: and say I want them all, but I want AD supported, 140 00:08:04,280 --> 00:08:06,840 Speaker 1: or I want you know too, but no AD supported 141 00:08:06,840 --> 00:08:10,280 Speaker 1: in these kinds of things. But historically with Netflix, people 142 00:08:10,880 --> 00:08:15,280 Speaker 1: stay on the plan that they originally subscribe to. Is 143 00:08:15,320 --> 00:08:20,160 Speaker 1: it conceivable that as you guys go out there with this, 144 00:08:20,480 --> 00:08:25,040 Speaker 1: that we that essentially even people are paying less, you 145 00:08:25,080 --> 00:08:29,360 Speaker 1: can monetize better because you're getting obviously the subscription fee 146 00:08:29,400 --> 00:08:31,840 Speaker 1: that they pay plus the AD dollars that you reap 147 00:08:31,920 --> 00:08:35,559 Speaker 1: from those eyeballs. Yeah, I think that that has been 148 00:08:35,600 --> 00:08:38,720 Speaker 1: stated by read that our our expectation is for it 149 00:08:38,760 --> 00:08:41,960 Speaker 1: to be at the very least revenue neutral. Okay, you 150 00:08:42,000 --> 00:08:45,360 Speaker 1: mentioned Spain earlier. You guys are available now at seventy 151 00:08:45,920 --> 00:08:50,360 Speaker 1: of the world of the ad twelve countries. Okay, and 152 00:08:50,440 --> 00:08:52,560 Speaker 1: at this point, do you guys have a sense like 153 00:08:53,320 --> 00:08:56,120 Speaker 1: three will we see that number grow? We are going 154 00:08:56,160 --> 00:08:59,240 Speaker 1: to stay with the twelve. Well, we learn that it's 155 00:08:59,320 --> 00:09:02,280 Speaker 1: the twelve large just ad markets and also places where 156 00:09:02,520 --> 00:09:05,880 Speaker 1: Netflix has penetration enough to have certain different tiers of 157 00:09:05,920 --> 00:09:08,320 Speaker 1: service versus one or two tiers of service. So we're 158 00:09:08,320 --> 00:09:10,520 Speaker 1: gonna stick with that plan for now while we learn um. 159 00:09:10,679 --> 00:09:14,840 Speaker 1: But long term, I think any any major AD market 160 00:09:14,960 --> 00:09:18,120 Speaker 1: that can also support the multiple tiers will be things 161 00:09:18,120 --> 00:09:21,240 Speaker 1: that will look at. But yeah, the twelve for now, 162 00:09:21,920 --> 00:09:24,280 Speaker 1: and there are seven whole people on my team and 163 00:09:24,320 --> 00:09:29,080 Speaker 1: so I wouldve is just fine for now. In front 164 00:09:29,080 --> 00:09:32,520 Speaker 1: of this crowd, you may start getting resumes, so you know, uh, 165 00:09:32,600 --> 00:09:38,040 Speaker 1: what about if you're great, I'm Jeremy and Netflix. Um, 166 00:09:38,120 --> 00:09:42,080 Speaker 1: what about I From what I've heard, not one percent 167 00:09:42,200 --> 00:09:46,280 Speaker 1: of the content is uh does have advertising in it? 168 00:09:46,640 --> 00:09:49,760 Speaker 1: You guys still need to work out some licensing. Has 169 00:09:49,880 --> 00:09:53,280 Speaker 1: that progressed? Yeah, that's progressing kind of as we speak 170 00:09:53,360 --> 00:09:56,600 Speaker 1: day by day, renegotiating deals that we made a long 171 00:09:56,640 --> 00:09:59,320 Speaker 1: time ago. But the vast majority of content that people 172 00:09:59,480 --> 00:10:03,240 Speaker 1: watch gularly is available on the AD tier service. UM. 173 00:10:03,320 --> 00:10:05,120 Speaker 1: And by that, I mean, you know, people tend to 174 00:10:05,120 --> 00:10:07,920 Speaker 1: watch the same things that are is like geiste. Uh, 175 00:10:08,040 --> 00:10:12,600 Speaker 1: Wednesday right now, for instance, has over a billion streaming hours. 176 00:10:12,679 --> 00:10:16,640 Speaker 1: Has anybody seen Wednesday? It's so great? Uh? Okay, yeah, 177 00:10:16,679 --> 00:10:19,640 Speaker 1: I guess mathematically speaking, if it's over a billion hours, 178 00:10:19,679 --> 00:10:23,200 Speaker 1: then many of you have seen Wednesday. Um. And so yeah, 179 00:10:23,200 --> 00:10:25,480 Speaker 1: all of those, the original content and the majority of 180 00:10:25,520 --> 00:10:27,679 Speaker 1: things that people watch are available on add tier. And 181 00:10:27,720 --> 00:10:30,679 Speaker 1: then we're just going to continue to negotiate and hopefully 182 00:10:30,679 --> 00:10:34,360 Speaker 1: have everything available. But it's between eighty five and nine 183 00:10:35,040 --> 00:10:39,200 Speaker 1: content is available on the AD tier depending on the country. UM. 184 00:10:39,240 --> 00:10:42,680 Speaker 1: There's been some criticism that you guys came to market 185 00:10:42,800 --> 00:10:47,120 Speaker 1: with a pretty high CPM. UM, are you pleased with 186 00:10:47,160 --> 00:10:50,360 Speaker 1: where you have sort of set the bar at this point. Yeah, 187 00:10:50,559 --> 00:10:53,000 Speaker 1: you know, I think, like anything, it's a marketplace we 188 00:10:53,080 --> 00:10:55,559 Speaker 1: have we we didn't know what we didn't know. There 189 00:10:55,600 --> 00:10:59,439 Speaker 1: weren't any subscribers on the ad supported tier when we started, obviously, 190 00:10:59,760 --> 00:11:03,679 Speaker 1: so from a supply demand perspective, the premium CPMs are 191 00:11:03,679 --> 00:11:06,200 Speaker 1: reflective of two things. One is that we just couldn't 192 00:11:06,320 --> 00:11:09,400 Speaker 1: take that many advertisers. We certainly didn't want to disappoint anybody. 193 00:11:09,440 --> 00:11:13,280 Speaker 1: But then secondarily, the premium content environment in which the 194 00:11:13,280 --> 00:11:16,040 Speaker 1: ads run I think warrant a high CPM. But I 195 00:11:16,040 --> 00:11:19,600 Speaker 1: think we're certainly humble enough to very much understand that 196 00:11:19,640 --> 00:11:22,200 Speaker 1: we are top of market, and in addition to that 197 00:11:22,200 --> 00:11:24,959 Speaker 1: that the market will more or less dictate to us 198 00:11:25,520 --> 00:11:28,240 Speaker 1: what what are reasonable CPMs. And then in addition, with 199 00:11:28,280 --> 00:11:31,600 Speaker 1: these innovations on top of the fifteen and thirties will 200 00:11:31,600 --> 00:11:34,320 Speaker 1: warrant the high CPM over time, But right now, with 201 00:11:34,360 --> 00:11:37,440 Speaker 1: fifteens and thirties and limited targeting, it's really, you know, 202 00:11:37,520 --> 00:11:40,480 Speaker 1: just a byproduct of demand. There's a lot of demand. 203 00:11:41,000 --> 00:11:44,559 Speaker 1: So who are could you characterize the kinds of advertisers 204 00:11:44,559 --> 00:11:46,680 Speaker 1: that are in this first wave and perhaps what the 205 00:11:46,720 --> 00:11:49,800 Speaker 1: second wave could look like? Sure? Yeah, my favorite part 206 00:11:49,840 --> 00:11:52,360 Speaker 1: of this, and thank you for asking, UM, is that 207 00:11:52,440 --> 00:11:56,640 Speaker 1: it's really across the board. So we're seeing CpG companies, 208 00:11:56,800 --> 00:12:02,240 Speaker 1: luxury companies, automotive companies. I could go on and on, retail, etcetera. 209 00:12:02,520 --> 00:12:04,640 Speaker 1: But we're seeing a broad swath and I think that's 210 00:12:04,679 --> 00:12:07,880 Speaker 1: not only important to signify the demand that's coming into 211 00:12:08,320 --> 00:12:10,680 Speaker 1: people wanting to reach this incremental audience that they haven't 212 00:12:10,679 --> 00:12:13,560 Speaker 1: been able to reach before, but also really good for 213 00:12:13,600 --> 00:12:16,720 Speaker 1: our member experience that you're not just like and another 214 00:12:16,800 --> 00:12:19,880 Speaker 1: car and another car and another car. Um. It's it's 215 00:12:20,000 --> 00:12:23,080 Speaker 1: very there's a wide variety of advertiser types and I 216 00:12:23,080 --> 00:12:26,040 Speaker 1: think we'll continue to see that in various moments of 217 00:12:26,080 --> 00:12:28,760 Speaker 1: when people need things. So at the outset, you know, 218 00:12:28,880 --> 00:12:31,959 Speaker 1: right before holiday, very retail heavy, not dissimilar to what 219 00:12:32,120 --> 00:12:35,400 Speaker 1: many of you experience. I'm sure right now you know, 220 00:12:35,640 --> 00:12:39,200 Speaker 1: tax etcetera. So we're following a very normal pattern. But 221 00:12:39,600 --> 00:12:42,240 Speaker 1: it is a broad swath of demand. There's also a 222 00:12:42,280 --> 00:12:47,800 Speaker 1: broad swath of players in this Marketplaceself, Disney, plus everyone's 223 00:12:47,920 --> 00:12:51,160 Speaker 1: doing the ad thing. Is this a rising tide lift 224 00:12:51,160 --> 00:12:55,560 Speaker 1: all boats or is it? You know what? It's this 225 00:12:55,600 --> 00:12:58,000 Speaker 1: is more Darwinian than that, and you know one player 226 00:12:58,040 --> 00:13:00,240 Speaker 1: needs to take an early lead. I think it's a 227 00:13:00,360 --> 00:13:03,960 Speaker 1: rising tide rises all boats situation for connected TV in general, 228 00:13:04,000 --> 00:13:08,240 Speaker 1: for ad supported streaming services, for customer choice, each of 229 00:13:08,280 --> 00:13:13,079 Speaker 1: the companies is really compelling another company to make extraordinary content. 230 00:13:13,520 --> 00:13:17,120 Speaker 1: And while this isn't a specific add discussion or add 231 00:13:17,200 --> 00:13:18,960 Speaker 1: point that I'm about to make, one of the things 232 00:13:18,960 --> 00:13:21,120 Speaker 1: I think is most interesting is that five of our 233 00:13:21,160 --> 00:13:24,360 Speaker 1: most popular shows of all time we're last year in 234 00:13:25,120 --> 00:13:28,080 Speaker 1: two when competition had never been more fierce. And I 235 00:13:28,120 --> 00:13:32,000 Speaker 1: think that is really a reflection of everybody making everybody better. 236 00:13:32,200 --> 00:13:34,280 Speaker 1: And I think we can all agree that streaming content 237 00:13:34,400 --> 00:13:37,880 Speaker 1: just continues to be exceptional. Um. And then as the 238 00:13:38,040 --> 00:13:42,680 Speaker 1: linear market changes or flattens, we're giving advertisers and customers 239 00:13:42,679 --> 00:13:45,240 Speaker 1: a place to go. We had I don't know if 240 00:13:45,240 --> 00:13:46,680 Speaker 1: you were in the room at the time. Jeff Green 241 00:13:46,760 --> 00:13:49,520 Speaker 1: from the trade desk was out here earlier. I tried 242 00:13:49,559 --> 00:13:52,880 Speaker 1: to broker a deal, Oh thank you, in an auction 243 00:13:52,880 --> 00:13:57,120 Speaker 1: based diamond ademic CPN format, which I learned in nursery school. 244 00:13:57,320 --> 00:14:00,719 Speaker 1: Yeah didn't, didn't we all? Um? You know he's out 245 00:14:00,760 --> 00:14:03,840 Speaker 1: here talking about Galileo, this first party data product for 246 00:14:03,880 --> 00:14:08,240 Speaker 1: advertisers I mean, does does Netflix need something like that? 247 00:14:08,640 --> 00:14:10,000 Speaker 1: The way I think the way he put it with 248 00:14:10,040 --> 00:14:12,360 Speaker 1: something like the Netflix needs the open Internet more than 249 00:14:12,400 --> 00:14:14,720 Speaker 1: the open Internet needs network. Maybe I have that wrong. 250 00:14:15,160 --> 00:14:20,480 Speaker 1: You tell me, what does does Netflix need the Open Internet? UM? 251 00:14:20,520 --> 00:14:23,160 Speaker 1: I think I don't know. That's a hard question to answer. 252 00:14:23,240 --> 00:14:24,480 Speaker 1: But you did scare me when you said he was 253 00:14:24,480 --> 00:14:26,160 Speaker 1: talking about Galileo. I thought I was going to have 254 00:14:26,200 --> 00:14:29,200 Speaker 1: to talk about philosophers or no. No, no, no, that's 255 00:14:29,240 --> 00:14:32,800 Speaker 1: just a product. I think the open Internet needs Netflix, 256 00:14:32,800 --> 00:14:37,120 Speaker 1: and Netflix needs the open Internet. Okay, safe answer? UM, 257 00:14:37,400 --> 00:14:42,040 Speaker 1: thank you. In our remaining thirty seconds, what in twenty 258 00:14:42,200 --> 00:14:44,880 Speaker 1: three you know, if we're back on this stage, uh, 259 00:14:45,360 --> 00:14:49,240 Speaker 1: twelve months from now, what growth story do you hope 260 00:14:49,280 --> 00:14:51,280 Speaker 1: to be sort of telling? You know? Do you have 261 00:14:51,320 --> 00:14:53,960 Speaker 1: a projection of where you see how much growth you're 262 00:14:53,960 --> 00:14:57,080 Speaker 1: gonna get for this new ad tire? What I hope 263 00:14:57,120 --> 00:14:59,920 Speaker 1: to see is that we have enough subscribers on the 264 00:15:00,040 --> 00:15:02,560 Speaker 1: add here that advertisers are getting what they want in 265 00:15:02,680 --> 00:15:06,560 Speaker 1: targeted environments and genre based targeting. UM. I think that 266 00:15:06,640 --> 00:15:08,960 Speaker 1: we have all of the opportunity in the world. There 267 00:15:08,960 --> 00:15:12,560 Speaker 1: are so many people who love Netflix. UM that giving 268 00:15:12,720 --> 00:15:15,120 Speaker 1: different price points to get more people on the service 269 00:15:15,640 --> 00:15:17,560 Speaker 1: is a win for everybody, and I hope that there 270 00:15:17,560 --> 00:15:19,480 Speaker 1: are a lot of customers in the audience next year 271 00:15:19,520 --> 00:15:21,840 Speaker 1: who are on the basic with ADS plan. I will 272 00:15:21,880 --> 00:15:23,800 Speaker 1: hold you to that next year. At this time next year, 273 00:15:23,840 --> 00:15:26,240 Speaker 1: this time I will be here. Thank you, Jeremy, thank you. 274 00:15:29,680 --> 00:15:38,440 Speaker 1: We'll be back in just a minute, and we're back 275 00:15:38,560 --> 00:15:42,760 Speaker 1: with Malik du Karg. I'm really happy to have our 276 00:15:42,760 --> 00:15:45,080 Speaker 1: next guest with us. I've known Malik a long time. 277 00:15:45,240 --> 00:15:48,400 Speaker 1: I've known you going back to your Paramount days, your 278 00:15:48,440 --> 00:15:52,520 Speaker 1: YouTube ways, always a content guy, but at the intersection 279 00:15:52,920 --> 00:15:55,480 Speaker 1: of content in tech. And then of course I heard 280 00:15:55,560 --> 00:15:57,760 Speaker 1: about a year ago you going over to Pinterest and 281 00:15:57,800 --> 00:16:01,080 Speaker 1: I was like, okay, that's interest ding, which I don't 282 00:16:01,120 --> 00:16:06,160 Speaker 1: think of Pinterest as video programming and such. So what 283 00:16:06,240 --> 00:16:08,640 Speaker 1: was the mandate when you got brought in as the 284 00:16:08,720 --> 00:16:11,840 Speaker 1: chief content officer? Um so, so happy to be here. 285 00:16:11,880 --> 00:16:14,840 Speaker 1: First of all, what's up Andy? Hi? Everyone? Um So, 286 00:16:15,160 --> 00:16:18,880 Speaker 1: I've been at Pinterest now for a little bit over 287 00:16:18,920 --> 00:16:22,160 Speaker 1: a year, and the mandate is to to really work 288 00:16:22,280 --> 00:16:29,400 Speaker 1: with uh incredible teams, partners, creators, publishers, brands, curators to 289 00:16:29,920 --> 00:16:36,280 Speaker 1: really build healthy and thriving content ecosystem UM with video 290 00:16:36,520 --> 00:16:40,800 Speaker 1: very much UM as a core focus of the platform. 291 00:16:41,080 --> 00:16:45,000 Speaker 1: So we've been building out tools for for creators, for example, 292 00:16:45,080 --> 00:16:49,200 Speaker 1: and for publishers to really upload and share their video. 293 00:16:49,360 --> 00:16:53,080 Speaker 1: Video has been been growing really rapidly on the platform UM, 294 00:16:53,120 --> 00:16:55,280 Speaker 1: and a big part of what I do is to 295 00:16:55,280 --> 00:16:59,200 Speaker 1: to help fan the flames and UM encourage that ecosystem 296 00:16:59,240 --> 00:17:02,280 Speaker 1: to to continue to grow. So let's talk about some 297 00:17:02,320 --> 00:17:05,199 Speaker 1: flames for some publishers and creators. Would have been some 298 00:17:05,280 --> 00:17:07,560 Speaker 1: top deals that you've brought in in this first year 299 00:17:08,080 --> 00:17:10,320 Speaker 1: UM so. One one of the deals, and I think 300 00:17:10,359 --> 00:17:13,680 Speaker 1: it's a good example of a model for for deals 301 00:17:13,720 --> 00:17:16,920 Speaker 1: that we have continued to do, is our relationship with 302 00:17:17,280 --> 00:17:21,000 Speaker 1: Taste Made. So Taste Made is a publisher UM who 303 00:17:21,040 --> 00:17:24,680 Speaker 1: have a really great presence on Pinterest across a lot 304 00:17:24,680 --> 00:17:28,919 Speaker 1: of categories like food and and home UH and Taste 305 00:17:28,920 --> 00:17:32,439 Speaker 1: Made is a great partner because they not only create 306 00:17:32,600 --> 00:17:36,440 Speaker 1: great original content that we structured this deal around UM, 307 00:17:36,520 --> 00:17:40,280 Speaker 1: but they also center creators UM as a focus. So 308 00:17:40,280 --> 00:17:43,960 Speaker 1: when you look at the Taste Made presence on UM Pinterest, 309 00:17:44,040 --> 00:17:48,359 Speaker 1: you very much see UM creators creators who are food 310 00:17:48,440 --> 00:17:53,359 Speaker 1: creators and home decre creators UM as the fuel that 311 00:17:53,400 --> 00:17:56,280 Speaker 1: really drives what they do. So a big part of 312 00:17:56,359 --> 00:18:02,640 Speaker 1: that relationship is UM supporting that constituent. UH. The deal 313 00:18:02,720 --> 00:18:04,600 Speaker 1: is a deal in and of itself, but it's also 314 00:18:04,680 --> 00:18:08,080 Speaker 1: a model for other deals that we've done with folks 315 00:18:08,200 --> 00:18:14,119 Speaker 1: like Refinery twenty nine and um Blavity and also End 316 00:18:14,160 --> 00:18:15,480 Speaker 1: Them All. I think End Them All is a good 317 00:18:15,480 --> 00:18:18,800 Speaker 1: example where we worked with them in France, Italy and 318 00:18:18,840 --> 00:18:23,199 Speaker 1: Spain UH to to really highlight some of the participants 319 00:18:23,200 --> 00:18:26,879 Speaker 1: on Master Chef UM and to to go behind the 320 00:18:26,920 --> 00:18:30,000 Speaker 1: scenes and to to catch up with these participants to 321 00:18:30,080 --> 00:18:34,719 Speaker 1: actually unpack the recipes UM that they won with on 322 00:18:34,760 --> 00:18:37,480 Speaker 1: the show, and to to really offer that up to 323 00:18:37,720 --> 00:18:40,560 Speaker 1: our users are pinners, to be able to do those 324 00:18:40,600 --> 00:18:43,960 Speaker 1: recipes themselves. So it sounds like video is not, you know, 325 00:18:43,960 --> 00:18:46,280 Speaker 1: it's not you're making some sort of hard left. It's 326 00:18:46,359 --> 00:18:50,360 Speaker 1: really organic in the sense that it the very themes 327 00:18:50,400 --> 00:18:55,080 Speaker 1: that make Pinterest. Pinterest programming plays on that absolutely, and 328 00:18:55,080 --> 00:18:58,480 Speaker 1: I would say that there are really three things that 329 00:18:58,920 --> 00:19:04,080 Speaker 1: make pinterest unique and and differentiated amongst platforms that that 330 00:19:04,160 --> 00:19:08,000 Speaker 1: are out there. The first is intent when a pinner 331 00:19:08,160 --> 00:19:12,040 Speaker 1: and and pinners are our users come through the front 332 00:19:12,080 --> 00:19:15,920 Speaker 1: door of of pinterest. UM, they're coming with an intent 333 00:19:16,160 --> 00:19:19,959 Speaker 1: to to do something. UM. It isn't a passive entrance. 334 00:19:20,000 --> 00:19:23,800 Speaker 1: They're coming to be inspired, to search for an idea, 335 00:19:24,200 --> 00:19:26,879 Speaker 1: to make something, to do something, to bake something, to 336 00:19:27,000 --> 00:19:30,840 Speaker 1: shop for something. So intent is really key. I think 337 00:19:30,840 --> 00:19:35,000 Speaker 1: that the the other big differentiator of the platform is 338 00:19:35,080 --> 00:19:41,960 Speaker 1: it's positivity and its inspiration. UM. Pinterest foundationally was built 339 00:19:42,520 --> 00:19:47,560 Speaker 1: on on a notion of pinners want to be inspired 340 00:19:47,800 --> 00:19:51,760 Speaker 1: and UH. Having a platform that we call and it 341 00:19:51,840 --> 00:19:57,240 Speaker 1: is the positive corner of the Internet UM really really 342 00:19:57,280 --> 00:20:02,080 Speaker 1: resonates with our our pinners and creators who UM come 343 00:20:02,160 --> 00:20:05,480 Speaker 1: to the platform for that UM. And then the third 344 00:20:05,520 --> 00:20:10,639 Speaker 1: thing is that pinterest is really a juggernaut of human curation. 345 00:20:11,280 --> 00:20:15,280 Speaker 1: And I think it's you know, wonderful that we're here 346 00:20:15,320 --> 00:20:20,439 Speaker 1: at at CS at a consumer electronics conference, UM with 347 00:20:20,520 --> 00:20:25,919 Speaker 1: a platform and we center human curation. And what I 348 00:20:25,960 --> 00:20:29,640 Speaker 1: mean by that is, UM, every day we have millions 349 00:20:29,840 --> 00:20:34,639 Speaker 1: of pinners who are saving content, saving videos, saving images 350 00:20:35,080 --> 00:20:40,600 Speaker 1: to their boards. And when they save these UM images 351 00:20:40,640 --> 00:20:45,040 Speaker 1: and content, UM, they're doing it around home decre projects 352 00:20:45,160 --> 00:20:49,000 Speaker 1: or birthday party, uh sort of design setups that they 353 00:20:49,040 --> 00:20:52,720 Speaker 1: have coming and and that really does two things. One, 354 00:20:53,320 --> 00:20:58,000 Speaker 1: it helps them to visualize and realize uh, the sort 355 00:20:58,040 --> 00:21:01,680 Speaker 1: of inspiration that they want to move inspiration to real life. 356 00:21:01,920 --> 00:21:04,280 Speaker 1: But it also gives us a ton of information and 357 00:21:04,400 --> 00:21:10,080 Speaker 1: signals around um, this shoes goes with this dress, goes 358 00:21:10,160 --> 00:21:13,440 Speaker 1: with this successory, and we're able to see that through 359 00:21:13,640 --> 00:21:18,400 Speaker 1: the boards that UM pinners put together. So when you're 360 00:21:18,400 --> 00:21:22,359 Speaker 1: talking about positivity and inspiration, I can't help but think 361 00:21:22,920 --> 00:21:25,040 Speaker 1: there's obviously you know, and I know you guys necessarily 362 00:21:25,040 --> 00:21:28,280 Speaker 1: consider yourselves a social network, But when you're talking about 363 00:21:28,320 --> 00:21:31,280 Speaker 1: publishers and creators and programming, you're gonna be lumped in 364 00:21:31,359 --> 00:21:36,119 Speaker 1: with the Facebook, Twitter, Instagram, TikTok's of the world, where 365 00:21:36,880 --> 00:21:39,919 Speaker 1: positivity and inspiration seems to be in very short supply. 366 00:21:40,320 --> 00:21:45,000 Speaker 1: I would assume that helps you with particularly advertisers. Absolutely, 367 00:21:45,119 --> 00:21:51,480 Speaker 1: brand safety on Pinterest is absolutely core and central, and 368 00:21:51,880 --> 00:21:55,320 Speaker 1: I think it goes back to this notion that when 369 00:21:55,880 --> 00:22:00,000 Speaker 1: a pinner comes to Pinterest, we want them and they 370 00:22:00,040 --> 00:22:05,720 Speaker 1: do leave feeling better than how they came in. And um, 371 00:22:05,760 --> 00:22:07,119 Speaker 1: you know, when when I when I got to the 372 00:22:07,160 --> 00:22:10,199 Speaker 1: company h a year ago, like when when I was elsewhere, 373 00:22:10,240 --> 00:22:14,480 Speaker 1: I always like peered over and was really impressed by UM, 374 00:22:15,280 --> 00:22:21,480 Speaker 1: this platform that really designed around UM inspiration and positivity 375 00:22:21,560 --> 00:22:27,199 Speaker 1: and with policies that UM we're we're progressive UM for 376 00:22:27,280 --> 00:22:32,320 Speaker 1: example banning weight loss ads and UM before any other platform, 377 00:22:32,440 --> 00:22:37,600 Speaker 1: but banning political misinformation and climate misinformation UM. But but 378 00:22:37,640 --> 00:22:41,520 Speaker 1: I wanted to understand, like, how, uh, from a technical 379 00:22:41,560 --> 00:22:45,000 Speaker 1: standpoint does it does it really work? And Uh, it's 380 00:22:45,040 --> 00:22:48,560 Speaker 1: baked into the math of the system. It's baked into 381 00:22:48,840 --> 00:22:53,040 Speaker 1: um our algorithms. When when the system UM is at 382 00:22:53,040 --> 00:22:57,800 Speaker 1: a crossroads and is making a decision between, uh, someone 383 00:22:57,880 --> 00:23:00,720 Speaker 1: searching for a piece of content, is it going to 384 00:23:00,840 --> 00:23:03,520 Speaker 1: give them a video that's just gonna be time spent 385 00:23:04,080 --> 00:23:06,000 Speaker 1: or will it give them a video or piece of 386 00:23:06,040 --> 00:23:10,560 Speaker 1: content that's time well spent. The system chooses time well 387 00:23:10,640 --> 00:23:16,119 Speaker 1: spent because the system has captured what inspiration is UM 388 00:23:16,720 --> 00:23:20,280 Speaker 1: really sort of algorithmically and mathematically. And I believe that 389 00:23:20,600 --> 00:23:25,240 Speaker 1: algorithms don't just happen. Algorithms are a choice, and platforms 390 00:23:25,240 --> 00:23:30,040 Speaker 1: have a responsibility. And from from a foundational standpoint, that's 391 00:23:30,080 --> 00:23:35,639 Speaker 1: how we've really built pinterest up. How does the monetization 392 00:23:35,800 --> 00:23:38,160 Speaker 1: work now that I guess you're talking probably even here 393 00:23:38,200 --> 00:23:41,119 Speaker 1: at CES two advertisers about a whole different sort of 394 00:23:41,240 --> 00:23:45,959 Speaker 1: kind of content. Yeah, so we when when when when 395 00:23:46,000 --> 00:23:50,160 Speaker 1: you look at pinterest Because of that intentionality, because pinners 396 00:23:50,280 --> 00:23:54,960 Speaker 1: are coming with a mindset to do UM, it makes 397 00:23:55,040 --> 00:24:02,000 Speaker 1: monetization really seamless and in fact of pinners UM see 398 00:24:02,119 --> 00:24:06,840 Speaker 1: Pinterests as a place to to shop. UM. So with that, 399 00:24:06,920 --> 00:24:12,640 Speaker 1: we have made shopping a really core component to the platform. UM. 400 00:24:12,720 --> 00:24:17,280 Speaker 1: So that's through building out UM product pens UH and 401 00:24:17,400 --> 00:24:20,840 Speaker 1: building out affiliate links so that UM, if you're a 402 00:24:20,880 --> 00:24:25,240 Speaker 1: creator or if you're a publisher, you're very easily able 403 00:24:25,359 --> 00:24:29,800 Speaker 1: to UM share the goods and the product that that 404 00:24:29,880 --> 00:24:33,840 Speaker 1: you're you're sharing. We also work to bring creators together 405 00:24:34,520 --> 00:24:39,240 Speaker 1: UH with with brands. So for example, UH we have 406 00:24:39,480 --> 00:24:46,160 Speaker 1: paid product tools, paid sponsorship tools that UM allow for 407 00:24:46,440 --> 00:24:50,360 Speaker 1: creators who UM align with a certain brand. Like one 408 00:24:50,600 --> 00:24:54,760 Speaker 1: example is Gatorade. When Gatorade was looking to to really 409 00:24:55,320 --> 00:25:00,000 Speaker 1: champion hydration, UH, they matched up with four really prominent 410 00:25:00,040 --> 00:25:03,720 Speaker 1: IT fitness creators on the platform to make really natural, 411 00:25:03,960 --> 00:25:09,119 Speaker 1: organic content to support UM not only their messages but 412 00:25:09,200 --> 00:25:12,560 Speaker 1: Gatorade messages at the same time. UM. I know we 413 00:25:12,640 --> 00:25:15,480 Speaker 1: have an example of one of these new video programs 414 00:25:15,520 --> 00:25:49,760 Speaker 1: if we can queue that up on the screen. So 415 00:25:49,800 --> 00:25:52,520 Speaker 1: I love that one. And and that's a partnership that 416 00:25:53,000 --> 00:25:56,760 Speaker 1: we did with UM the Louver Museum, and I think 417 00:25:56,840 --> 00:25:59,160 Speaker 1: I think it's a great example also because I think 418 00:25:59,200 --> 00:26:03,399 Speaker 1: that UM pinterest is also unexpected UM. You know a 419 00:26:03,440 --> 00:26:07,120 Speaker 1: lot of folks don't realize that UM video is so 420 00:26:07,200 --> 00:26:11,200 Speaker 1: prominent on pinterest and that's a growing area and opportunity 421 00:26:11,640 --> 00:26:14,639 Speaker 1: or that brands have a really big opportunity to to 422 00:26:14,720 --> 00:26:19,439 Speaker 1: connect with creators and and ultimately with UM you know, 423 00:26:19,520 --> 00:26:23,760 Speaker 1: their their buyers as well. And this is an example 424 00:26:23,920 --> 00:26:26,960 Speaker 1: a partnership that we did with the Louver to really 425 00:26:27,000 --> 00:26:30,719 Speaker 1: get sort of behind the scenes UM and find some 426 00:26:30,760 --> 00:26:35,040 Speaker 1: of the surprising UM moments in areas of the Louver 427 00:26:35,680 --> 00:26:39,520 Speaker 1: UM that that museum goers may not have seen. Like 428 00:26:39,520 --> 00:26:42,199 Speaker 1: one of my favorite ones is UM, what about the 429 00:26:42,280 --> 00:26:45,199 Speaker 1: Louver without the Mona Lisa, Like if that wasn't the 430 00:26:45,240 --> 00:26:48,320 Speaker 1: first thing person went to to make a bee line to, 431 00:26:48,920 --> 00:26:51,480 Speaker 1: what else would you see? So so I think that 432 00:26:51,480 --> 00:26:55,760 Speaker 1: that that spirit of pinterests of really UM opening up 433 00:26:55,920 --> 00:26:59,800 Speaker 1: the world more for for pinners and users and inspiring 434 00:26:59,880 --> 00:27:04,160 Speaker 1: them to explore more and to do more is very 435 00:27:04,240 --> 00:27:06,760 Speaker 1: core and critical to to what we do. Yeah, it 436 00:27:06,760 --> 00:27:09,760 Speaker 1: definitely sounds on brand for Pinterest, and this job that 437 00:27:09,800 --> 00:27:12,600 Speaker 1: you're in sounds on brand for you because it reminds 438 00:27:12,640 --> 00:27:16,280 Speaker 1: me of you know, back in your YouTube days. You 439 00:27:16,320 --> 00:27:18,560 Speaker 1: would I mean, obviously there's some key differences, but you 440 00:27:18,680 --> 00:27:21,040 Speaker 1: essentially did the same thing and a number of different 441 00:27:21,119 --> 00:27:23,240 Speaker 1: roles in a number of different areas. It was about 442 00:27:23,280 --> 00:27:27,880 Speaker 1: building up this content ecosystem. Were there parallels? Were there 443 00:27:27,920 --> 00:27:30,560 Speaker 1: things that you brought from your YouTube days that you 444 00:27:30,600 --> 00:27:33,600 Speaker 1: have applied to Pinterest? Yeah, you know what that there 445 00:27:33,640 --> 00:27:38,040 Speaker 1: are are are similarities and and and their differences. I 446 00:27:38,040 --> 00:27:41,159 Speaker 1: think that some of the differences goes back to, you 447 00:27:41,160 --> 00:27:43,280 Speaker 1: know a little bit where where I started. I think 448 00:27:43,320 --> 00:27:48,159 Speaker 1: that from UH user standpoint, the pinners who come to 449 00:27:48,200 --> 00:27:54,080 Speaker 1: the platform come truly with intent. It isn't a passive arrival. 450 00:27:54,160 --> 00:27:57,240 Speaker 1: They come to do. I think that the positivity of 451 00:27:57,280 --> 00:28:01,520 Speaker 1: the platform UM is really it isn't a positive place 452 00:28:01,600 --> 00:28:06,080 Speaker 1: because it's been mandated from a regulatory standpoint or nudge. 453 00:28:06,119 --> 00:28:09,879 Speaker 1: It's actually UM the premise of the company UM. And 454 00:28:09,920 --> 00:28:12,679 Speaker 1: then that human curation is key. Like back in the 455 00:28:12,760 --> 00:28:17,440 Speaker 1: day UM, I was a jazz DJ and on college 456 00:28:17,560 --> 00:28:21,560 Speaker 1: radio and um, how how you place, you know, is 457 00:28:21,560 --> 00:28:24,760 Speaker 1: it John Coltrane, then Billie Holiday then like that that 458 00:28:24,880 --> 00:28:28,639 Speaker 1: curation is content in and of itself. And we have 459 00:28:28,800 --> 00:28:32,280 Speaker 1: millions of people. There's six billion boards on Pinterest of 460 00:28:32,760 --> 00:28:36,399 Speaker 1: curation and and and it's the the the only platform 461 00:28:36,520 --> 00:28:42,680 Speaker 1: that that has such a significant um human curatorial component. UM. 462 00:28:42,720 --> 00:28:44,880 Speaker 1: So those are some of the differences. I'd say one 463 00:28:44,960 --> 00:28:47,400 Speaker 1: of the big similarities. As you know, I was at 464 00:28:47,520 --> 00:28:50,800 Speaker 1: YouTube in the early days, like right before that hockey 465 00:28:50,800 --> 00:28:56,920 Speaker 1: stick and UM that that feeling and spirit of momentum, 466 00:28:56,960 --> 00:28:59,680 Speaker 1: some of the patterns that that I saw at you 467 00:29:00,000 --> 00:29:03,760 Speaker 1: you when we were building what would be you know, 468 00:29:03,880 --> 00:29:08,200 Speaker 1: really really strong growth. UM I I see that feel 469 00:29:08,240 --> 00:29:11,720 Speaker 1: that UM and love being a part of that at pinterest. 470 00:29:11,720 --> 00:29:14,800 Speaker 1: A lot of similar patterns um in different ways and 471 00:29:14,840 --> 00:29:18,200 Speaker 1: for different reasons, but a similarity in being at the 472 00:29:18,240 --> 00:29:22,400 Speaker 1: beginning of um what we see as a real hockey stick. 473 00:29:22,640 --> 00:29:25,160 Speaker 1: But there's of course the challenge of the hockey stick, 474 00:29:25,200 --> 00:29:27,800 Speaker 1: which is you know, scaling too fast, losing control of 475 00:29:27,880 --> 00:29:32,880 Speaker 1: the platform or these things. You're mindful of this so 476 00:29:32,920 --> 00:29:39,000 Speaker 1: mindful um and and the company has been mindful from 477 00:29:39,040 --> 00:29:41,840 Speaker 1: from really an establishment, you know, sort of standpoint like 478 00:29:41,880 --> 00:29:45,800 Speaker 1: when it was founded and and I think that starting 479 00:29:45,920 --> 00:29:50,120 Speaker 1: from a place of UH, we we believe that you 480 00:29:50,440 --> 00:29:53,560 Speaker 1: can do good business and do good for the world, 481 00:29:53,600 --> 00:29:56,280 Speaker 1: do good for society at the same time. Like I'm 482 00:29:56,320 --> 00:30:00,800 Speaker 1: happy that there's a company where those two aren't at odds, 483 00:30:00,880 --> 00:30:04,720 Speaker 1: where those two are actually the reason for each other. UM. 484 00:30:04,760 --> 00:30:08,040 Speaker 1: And then all the nuts and bolts, supercharged trusts and 485 00:30:08,120 --> 00:30:14,720 Speaker 1: safety teams UM, you know, really really focused UM efforts 486 00:30:14,880 --> 00:30:19,720 Speaker 1: on UM that the challenges that come with open platforms, 487 00:30:20,080 --> 00:30:25,000 Speaker 1: but but those investments have really yielded UM results. And 488 00:30:25,000 --> 00:30:29,000 Speaker 1: and pinterest has been ranked number one most trusted platform 489 00:30:29,120 --> 00:30:34,080 Speaker 1: of eight platforms UM by UM Business and no insider 490 00:30:34,360 --> 00:30:37,880 Speaker 1: intelligence that's part of business in Yeah, yeah, that's right, 491 00:30:38,160 --> 00:30:41,040 Speaker 1: and UM and and number one across like a number 492 00:30:41,080 --> 00:30:45,240 Speaker 1: of different UH dimensions. So UM the results are showing, 493 00:30:45,360 --> 00:30:48,400 Speaker 1: but UM you can't rest on on that front, and 494 00:30:48,720 --> 00:30:51,520 Speaker 1: we're going to continue to to to invest there. Well, 495 00:30:51,600 --> 00:30:53,520 Speaker 1: you're off to a good start. Looking forward to seeing 496 00:30:53,560 --> 00:30:55,320 Speaker 1: what you do in twenty three. Thank you so much, 497 00:30:55,800 --> 00:31:04,600 Speaker 1: all right, appreciate it. MH. This has been another episode 498 00:31:04,600 --> 00:31:07,560 Speaker 1: of Strictly Business. Tune in next week for another helping 499 00:31:07,560 --> 00:31:11,320 Speaker 1: of scintillating conversation with media movers and shakers, and please 500 00:31:11,360 --> 00:31:14,320 Speaker 1: make sure you subscribe to the podcast to hear future episodes. 501 00:31:14,520 --> 00:31:17,640 Speaker 1: Also leave a review in Apple Podcasts and let us 502 00:31:17,720 --> 00:31:18,640 Speaker 1: know how we're doing