WEBVTT - Clash of the Commerce Titans

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<v Speaker 1>This is Bloomberg BusinessWeek with Carol Messer and Tim Steneveek

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<v Speaker 1>on Bloomberg Radio.

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<v Speaker 2>Two companies easily two of the biggest when it comes

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<v Speaker 2>to selling us stuff. We're talking about Amazon and Walmart.

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<v Speaker 2>Both have been Bloomberg Business We cover stories for different

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<v Speaker 2>reasons and the subject of many, many more stories inside

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<v Speaker 2>the magazine and also on the Bloomberg and at Bloomberg

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<v Speaker 2>dot Com every single day. Matt, there's so many stories

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<v Speaker 2>about Amazon and Walmart on a regular basis.

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<v Speaker 1>Yeah.

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<v Speaker 3>Absolutely, I mean, why wouldn't there be Walmart has what

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<v Speaker 3>five hundred thousand employees or something, and you know that

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<v Speaker 3>Paul Sweeney wants to be a Walmart reader when he's

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<v Speaker 3>done with this career.

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<v Speaker 1>I had no idea.

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<v Speaker 3>Oh my god, I look for the Amazon. You know,

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<v Speaker 3>we were just talking about FedEx and UPS and I

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<v Speaker 3>almost wonder if Amazon has a real competitor in their

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<v Speaker 3>own delivery network, right like other possible companies could use

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<v Speaker 3>Amazon shipping instead of FedEx or UPS because they're that ubiquitous.

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<v Speaker 2>Absolutely, we've had to pair back a little bit because

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<v Speaker 2>we got a little obsessed with Amazon. Anyway, let's get

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<v Speaker 2>to it, because the two are also the subject of

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<v Speaker 2>a new book, Winner sells All, Amazon, Walmart, and the

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<v Speaker 2>Battle for our Wallets. The author, Jason del Ray, is

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<v Speaker 2>with us. He's a business journalist for fifteen years, covering

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<v Speaker 2>e commerce for the last decade. He's here in our

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<v Speaker 2>interactive broker's studio. Nice to have you here.

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<v Speaker 1>Welcome, welcome, Thanks so much.

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<v Speaker 2>Tell us a little bit about why you wrote this book,

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<v Speaker 2>and why you wrote it now, or how long you've

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<v Speaker 2>been working on it.

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<v Speaker 1>So I've been working on about three years and long

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<v Speaker 1>thought that while there have been some great books about Amazon,

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<v Speaker 1>Bradstone's chief among them. He writes on your book that

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<v Speaker 1>he did blurb a bit for me. Can I just

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<v Speaker 1>say what? He wrote?

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<v Speaker 2>A revelatory account of the bloody rivalry between two ruthless

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<v Speaker 2>retail juggernauts that are not accustomed to losing anyway.

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<v Speaker 1>Go ahead. Brad's been coming to me over the years

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<v Speaker 1>and so written great books about Amazon. There's been some

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<v Speaker 1>interesting books about Walmart, although not many in the last

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<v Speaker 1>fifteen years. I thought to look at each in a vacuum,

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<v Speaker 1>sometimes misses how much each other has influenced strategies and

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<v Speaker 1>really hasn't been a deep dive into the innovator's dilemma

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<v Speaker 1>that Walmart specifically has faced over the last twenty years.

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<v Speaker 1>And for those reasons and a few others which we

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<v Speaker 1>may get into, I thought, you know, looking at inflection

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<v Speaker 1>points and their rivalry over time and where and how

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<v Speaker 1>they've influenced each other would be interesting for retail and

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<v Speaker 1>e commerce folks who work in the industry, but also

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<v Speaker 1>just smart people who care about what motivates these two

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<v Speaker 1>companies well, and just the competition.

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<v Speaker 3>I mean, you know, households see that themselves in real time.

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<v Speaker 3>Everybody I think has an Amazon app, right, and more

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<v Speaker 3>and more people are getting a Walmart app. Is we've

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<v Speaker 3>come to know it more online than just a gigantic

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<v Speaker 3>big box store. Is Walmart starting to take away serious

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<v Speaker 3>significant market share from Amazon online? Not yet, but I

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<v Speaker 3>think they've finally, for a couple of different reasons, connected

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<v Speaker 3>the dots between their stores and their you know, and

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<v Speaker 3>their fulfillment centers and their website in a meaningful way

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<v Speaker 3>that Amazon is. You know, they worried about Walmart a

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<v Speaker 3>long time ago, then stopped worrying when Walmart seemed just

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<v Speaker 3>not to be active at all in the.

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<v Speaker 2>Space irrelevant right when it came to online.

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<v Speaker 1>I mean for a very long time. Amazon executives have

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<v Speaker 1>told me for a long time we were waiting ten

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<v Speaker 1>fifteen years for Walmart to take advantage of well their

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<v Speaker 1>key advantage, which was a store within ten miles of

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<v Speaker 1>ninety percent of the population, and to use that either

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<v Speaker 1>as pickup hubs or delivery many warehouses. And they are

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<v Speaker 1>finally doing that, but it has taken a very long time.

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<v Speaker 1>And so are they stealing market share? Not quite yet,

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<v Speaker 1>but I think they are finally sort of competitive in

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<v Speaker 1>the space, which sounds shocking to just have that be

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<v Speaker 1>the minimum, but that's where we're at.

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<v Speaker 2>I want to get into the acquisition of Walmart of

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<v Speaker 2>diapers dot Com because that was really pivotal, and I

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<v Speaker 2>think even as we did a cover story, but I

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<v Speaker 2>want to ask you from your reporting, these guys are massive,

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<v Speaker 2>and I think about when I go shopping, I shop

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<v Speaker 2>and then I look at Amazon, and I like, kind

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<v Speaker 2>of it's kind of always my check. Are they getting

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<v Speaker 2>too big? Both of them?

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<v Speaker 1>You know? I say at the end of the book

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<v Speaker 1>that I hope that the continued competition and the fact

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<v Speaker 1>that Walmart is finally really competitive online leads to things

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<v Speaker 1>you know, better convenience for consumers, but also maybe better

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<v Speaker 1>wages for employees as they compete for talent. They're both

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<v Speaker 1>getting into healthcare.

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<v Speaker 2>Which is something Walmart has gotten a lot of criticism

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<v Speaker 2>for over the years.

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<v Speaker 1>Correct, both getting into healthcare, and perhaps you know that

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<v Speaker 1>is the industry that's ripe for better consumer you know,

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<v Speaker 1>attention and and so maybe, but that's sort of an idealistic,

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<v Speaker 1>you know, way to think about these two companies that

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<v Speaker 1>have not always inspired you know, the you know, the

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<v Speaker 1>greatest feelings among you know, I mean labor groups, consumer groups,

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<v Speaker 1>small businesses and so are they too big? I mean

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<v Speaker 1>I'll leave that to you know, regulators to figure out.

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<v Speaker 1>I think Walmart's days in this in the line in

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<v Speaker 1>sorry scrutinized spotlight fire, Yeah, has sort of passed, which

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<v Speaker 1>has been you know, I report in the book Andy

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<v Speaker 1>Jasse has been angered by that over the years, like

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<v Speaker 1>white like they're the biggest retailer revenue, Like what's up?

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<v Speaker 1>And they've had to explain like it's our turn now, right,

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<v Speaker 1>it's our turn. And so we'll be interested to see

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<v Speaker 1>what happens with the FTC. Will that lawsuit eventually happened?

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<v Speaker 1>And sorry, I think, guy, Well, I.

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<v Speaker 3>Was just gonna ask about the employees, because of course

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<v Speaker 3>the two of them competing is good for consumers in

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<v Speaker 3>the sense that it lowers prices.

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<v Speaker 1>But I can't.

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<v Speaker 3>Imagine how they would how that would benefit their employees.

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<v Speaker 3>And I know they each try and put a positive

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<v Speaker 3>spin on things like paying a fifteen dollars minimum wage

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<v Speaker 3>or you know.

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<v Speaker 1>They have college college education program. Yeah, they both sort

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<v Speaker 1>of match each other with over the years.

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<v Speaker 3>But they do, I mean, make a bigger margin on

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<v Speaker 3>the backs of these employees, right, I mean, the whole

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<v Speaker 3>point of a business like this is to kind of

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<v Speaker 3>squeeze costs in places like labor to make more money

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<v Speaker 3>for the shareholders.

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<v Speaker 1>Yeah, and they both drive drive people really hard. I

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<v Speaker 1>have a chapter in the book that's all about how

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<v Speaker 1>in the last five years Walmart has recruited a lot

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<v Speaker 1>of warehouse leaders and other logistics leaders from Amazon and

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<v Speaker 1>how they sort of imported the Amazon way and culture,

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<v Speaker 1>which not surprisingly did not always go well. And I

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<v Speaker 1>think as they add automation, the companies will say we've

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<v Speaker 1>taken away some of the most menial work, some of

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<v Speaker 1>the toughest work. But what often happens at the same time,

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<v Speaker 1>is the work speeds up. So we see all these

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<v Speaker 1>states investigating Amazon. It's not because it's not because the

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<v Speaker 1>you know, one one act in the work is really difficult.

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<v Speaker 1>It's because of the repetition and the speed, and so

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<v Speaker 1>I think it's a big issue. And they say they're

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<v Speaker 1>you know, they're constantly improving safety and the like. But

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<v Speaker 1>there's a lot of investigations and evidence that proves otherwise.

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<v Speaker 2>There's a lot of stuff things and I kind of

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<v Speaker 2>mix them together. But yeah, Jet dot com, Yeah, and Walmart. Ye,

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<v Speaker 2>talk to us about some of the kind of interesting developments.

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<v Speaker 2>We've got about two minutes and then we'll come back

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<v Speaker 2>and talk some more. But were these pivotal experiences.

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<v Speaker 1>Yeah, So, so Amazon bought diapers dot com the parent

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<v Speaker 1>company was Quizzy way back around twenty ten, stole it

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<v Speaker 1>from Walmart. Mark Laurie, that entrepreneur spent a few years

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<v Speaker 1>at Amazon, starts Jet dot Com. Maybe started working on

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<v Speaker 1>it while he was at Amazon. Not totally clear. Wasn't

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<v Speaker 1>really working out, but a lot of attention and Walmart

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<v Speaker 1>was needed a big you know, influx of talent make

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<v Speaker 1>the biggest act of in e commerce at the time.

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<v Speaker 1>Three point three billion mark LORI comes in. You know,

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<v Speaker 1>some successes, some failures, but the metabolism of the online

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<v Speaker 1>sales at Walmart picks up and then they both compete.

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<v Speaker 1>Recently in healthcare on an acquisition called pill Pack, Walmart

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<v Speaker 1>thought it had it. I have a great anecdote in

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<v Speaker 1>the book. CEO of Walmart, Actually here's the Amazon deal,

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<v Speaker 1>announced that they bought pill Pack instead, tries to convince

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<v Speaker 1>the entrepreneur that he should back out of the Amazon deal,

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<v Speaker 1>even though I mean it's kind of crazy. The deal

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<v Speaker 1>is public to the world, and it just shows like

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<v Speaker 1>in some key areas where they're trying to get first

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<v Speaker 1>mover advantage, they've gone head to head, and more often

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<v Speaker 1>than not it seems Amazon has one.

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<v Speaker 2>We want to get back to our our guest, excuse me,

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<v Speaker 2>business journalist Jason Delray his new book out Winter Sells

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<v Speaker 2>All Amazon, Walmart, and the Battle for Our Wallets. He

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<v Speaker 2>is still with us here in our Bloomberg Interactive Broker studio.

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<v Speaker 2>Tell us about meeting because you did for this book.

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<v Speaker 2>The CEO of Walmart, mister McMillan.

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<v Speaker 1>Yeah, So I went down to Bentonville, Walmart's hometown, met

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<v Speaker 1>Doug McMillan in the what they call the home office.

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<v Speaker 1>I guess they have a new one being built. So

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<v Speaker 1>this is the original. And it's been about ninety minutes

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<v Speaker 1>with him. We had a sixty minute interview planned went

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<v Speaker 1>a little over which I was I was happy about,

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<v Speaker 1>although they did not My original pitch was to trail

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<v Speaker 1>him for a week. That did not really work out,

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<v Speaker 1>and that's not something that Walmart really does much of.

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<v Speaker 1>And so Doug, you know, I was really interested in

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<v Speaker 1>getting to know him a little bit. He's been at

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<v Speaker 1>that he's a Walmart wifer, but they saw him as

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<v Speaker 1>a CEO kind of bridge generations, like, you know, they talked.

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<v Speaker 1>He talks about how he you know, he had an

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<v Speaker 1>early Palm pilot and like was into tech and tech

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<v Speaker 1>forward and they made him CEO about nine years ago,

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<v Speaker 1>and so his challenge has been just massive and so

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<v Speaker 1>it was interesting getting his thoughts on it to both

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<v Speaker 1>you know, help reinvigorate the store business, which when he

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<v Speaker 1>first came on board was struggling, while also trying to

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<v Speaker 1>just you know, get internal buy in that Amazon could

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<v Speaker 1>be an existential threat, which is how he called what

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<v Speaker 1>he called it to his executives and also board members

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<v Speaker 1>in those first couple of years as CEO, and you know,

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<v Speaker 1>he sees a lot of progress there, but he told

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<v Speaker 1>me he's still dissatisfied with the speed of transformation, the

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<v Speaker 1>speed of change in some parts of the organization. I

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<v Speaker 1>thought he might have one more year in him, maybe

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<v Speaker 1>at ten years he would step aside, But there was

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<v Speaker 1>some good reporting recently that he's going to stay on

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<v Speaker 1>board a couple more years as they try to really

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<v Speaker 1>make sure that this new digital DNAs is infused throughout

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<v Speaker 1>the organization, which you know, let's be real, it's one

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<v Speaker 1>of the biggest companies in the world. Not an easy

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<v Speaker 1>thing to turn that ship.

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<v Speaker 3>I wonder what I wonder what happens if the US

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<v Speaker 3>further d keuples from China, because both of these stores.

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<v Speaker 3>I have to be fair, I haven't spent a lot

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<v Speaker 3>of time in a Walmart, but I do spend a

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<v Speaker 3>lot of time on the Walmart app and on the

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<v Speaker 3>Amazon app, and I often try and look for products

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<v Speaker 3>that are made in America or I just noticed that

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<v Speaker 3>all of my choices are made in China, like everything.

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<v Speaker 1>And the brand name is it's something you can't exactly.

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<v Speaker 3>So, but do they do they make an effort to try,

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<v Speaker 3>and I wish Amazon would have a made in America section,

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<v Speaker 3>but they don't.

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<v Speaker 1>For a while. Yeah, and I thought, and I know

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<v Speaker 1>Amazon now has like a small a small business badge,

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<v Speaker 1>which I think there's been some reporting that's proven to

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<v Speaker 1>not always be completely accurate.

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<v Speaker 3>Small business from China.

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<v Speaker 1>And listen, Amazon made this bet back in about twenty thirteen,

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<v Speaker 1>the twenty fifteen that they were going to go all

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<v Speaker 1>out courting Amazon sorry Chinese suppliers and sellers, and you know,

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<v Speaker 1>they went growth, growth, growth, and they knew there would

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<v Speaker 1>be some trade offs, and they've just kind of lived

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<v Speaker 1>with it. I thought Walmart had an opportunity on their website,

0:12:13.080 --> 0:12:16.680
<v Speaker 1>at least when they were welcoming in new sellers trying

0:12:16.679 --> 0:12:20.400
<v Speaker 1>to build that marketplace business to take a different path.

0:12:20.480 --> 0:12:23.640
<v Speaker 1>Now maybe that wasn't no Chinese sellers, but maybe that

0:12:23.880 --> 0:12:27.280
<v Speaker 1>was US sellers only or something, you know, something that

0:12:27.320 --> 0:12:32.319
<v Speaker 1>would be more curated and something they could market honestly.

0:12:32.679 --> 0:12:36.679
<v Speaker 1>And they just I think mostly under Marc Luri, a

0:12:36.760 --> 0:12:40.199
<v Speaker 1>previous e commerce leader and entrepreneur, they really went after

0:12:40.720 --> 0:12:44.200
<v Speaker 1>just growth and expanding the seller base, and they opened

0:12:44.280 --> 0:12:47.040
<v Speaker 1>up to China in a big way, and you know,

0:12:48.280 --> 0:12:50.480
<v Speaker 1>I hope it doesn't blow up in some way for

0:12:50.720 --> 0:12:53.640
<v Speaker 1>you know, for either company, because that'll mean that something

0:12:53.679 --> 0:12:57.640
<v Speaker 1>bad happened for consumers on the marketplace business. But it just,

0:12:58.280 --> 0:13:02.800
<v Speaker 1>you know, there's a reason. It just doesn't seem natural

0:13:02.800 --> 0:13:06.079
<v Speaker 1>to have every product available across the world at your

0:13:06.120 --> 0:13:09.440
<v Speaker 1>fingertips without knowing a ton about the person behind it.

0:13:09.480 --> 0:13:10.920
<v Speaker 1>And that's sort of where we're at today.

0:13:10.960 --> 0:13:13.719
<v Speaker 2>But Jason, can we have a world where both Amazon

0:13:14.200 --> 0:13:19.400
<v Speaker 2>and Walmart exist? I mean, your book is Winter sells.

0:13:19.200 --> 0:13:22.599
<v Speaker 1>All y right? Right? No, So I think there was

0:13:22.640 --> 0:13:26.640
<v Speaker 1>a long period of time where some people at the

0:13:26.640 --> 0:13:29.400
<v Speaker 1>top of Walmart were concerned if they didn't start making

0:13:29.440 --> 0:13:32.200
<v Speaker 1>a dent and getting their act together, that yes, in

0:13:32.280 --> 0:13:36.040
<v Speaker 1>some key online categories, there would be one winner, and

0:13:36.080 --> 0:13:39.600
<v Speaker 1>that would be Amazon with ninety percent market share, ninety

0:13:39.600 --> 0:13:43.680
<v Speaker 1>five percent market share. I think they've done enough over

0:13:43.720 --> 0:13:48.200
<v Speaker 1>the last few years that that reality does not seem

0:13:48.679 --> 0:13:52.520
<v Speaker 1>you know, in the near term. And putting aside Amazon's

0:13:52.520 --> 0:13:55.000
<v Speaker 1>also its own struggles in the last couple of years

0:13:55.000 --> 0:13:56.360
<v Speaker 1>with cost cutting and the like.

0:13:56.400 --> 0:13:58.600
<v Speaker 2>But does Walmart have an advantage because it does have

0:13:58.600 --> 0:14:00.360
<v Speaker 2>stores and I think about some store or that I

0:14:00.400 --> 0:14:02.560
<v Speaker 2>shot at that. I love that I can order online

0:14:02.600 --> 0:14:03.000
<v Speaker 2>pick up.

0:14:02.960 --> 0:14:03.439
<v Speaker 1>In a store.

0:14:03.600 --> 0:14:05.040
<v Speaker 2>Do like I have a lot of flexibility.

0:14:05.080 --> 0:14:06.800
<v Speaker 3>I don't like to hang out in a store. It's

0:14:06.800 --> 0:14:08.480
<v Speaker 3>not as much fun to hang out online.

0:14:08.600 --> 0:14:11.559
<v Speaker 2>But I do wonder is there that an advantage potentially,

0:14:11.679 --> 0:14:13.240
<v Speaker 2>especially as it builds.

0:14:12.840 --> 0:14:16.080
<v Speaker 1>It should be. It should be. And as you know,

0:14:16.160 --> 0:14:19.320
<v Speaker 1>as we see labor costs up over the last couple

0:14:19.360 --> 0:14:23.160
<v Speaker 1>of years, supply chain costs, logistics cost up, you know,

0:14:23.320 --> 0:14:26.920
<v Speaker 1>returning items, like returning e commerce items. It should not

0:14:27.120 --> 0:14:29.640
<v Speaker 1>like it. The math doesn't work to do it free

0:14:30.000 --> 0:14:33.640
<v Speaker 1>by shipment, and so Amazon has failed up to date

0:14:33.680 --> 0:14:36.120
<v Speaker 1>with a real physical presence. And I think they'll keep

0:14:36.160 --> 0:14:38.760
<v Speaker 1>at it because it is an advantage for Walmart, even

0:14:38.800 --> 0:14:41.440
<v Speaker 1>if it's just to give customers, yes, place to pick up,

0:14:41.680 --> 0:14:44.480
<v Speaker 1>but a place to return. Right. I ordered trying to

0:14:44.480 --> 0:14:46.640
<v Speaker 1>get ready for this week and my book launch, ordered

0:14:46.680 --> 0:14:50.680
<v Speaker 1>like forty seven different white shirts online, and like, you know,

0:14:50.680 --> 0:14:53.120
<v Speaker 1>knowing I could just ship them back or in some

0:14:53.160 --> 0:14:55.920
<v Speaker 1>cases return to a store, but not an Amazon store.

0:14:56.360 --> 0:15:01.440
<v Speaker 3>It's interesting in terms of the fact that no one's

0:15:01.440 --> 0:15:05.160
<v Speaker 3>written a book about Amazon Walmart, and no one's really done.

0:15:05.160 --> 0:15:07.520
<v Speaker 2>Matt Brad written two books.

0:15:08.400 --> 0:15:11.360
<v Speaker 3>Well, no, Amazon, that's about Amazon. I'm talking about Walmart.

0:15:11.520 --> 0:15:11.720
<v Speaker 1>Yeah.

0:15:11.720 --> 0:15:14.120
<v Speaker 3>Are they secretive or they are? You know, is it

0:15:14.200 --> 0:15:17.560
<v Speaker 3>hard to get in there? They wouldn't, yeh, hang out

0:15:17.560 --> 0:15:19.120
<v Speaker 3>with the CEO for a week. I get that because

0:15:19.160 --> 0:15:20.360
<v Speaker 3>that's annoying.

0:15:20.400 --> 0:15:21.880
<v Speaker 1>But yeah, and they've they've.

0:15:22.440 --> 0:15:24.040
<v Speaker 2>They're very secretive.

0:15:24.320 --> 0:15:27.880
<v Speaker 1>They are secretive, I think Listen, I think they participated

0:15:27.880 --> 0:15:29.640
<v Speaker 1>in some way for a couple of reasons. I think

0:15:29.680 --> 0:15:31.800
<v Speaker 1>I showed them over the years I was going to

0:15:31.880 --> 0:15:34.280
<v Speaker 1>publish stuff that they didn't think would get out of

0:15:34.360 --> 0:15:36.720
<v Speaker 1>the company that did, and so I would continue to

0:15:36.920 --> 0:15:39.960
<v Speaker 1>And I think they wanted to tell try to tell

0:15:39.960 --> 0:15:43.480
<v Speaker 1>the story that they are finally turning a corner and

0:15:43.520 --> 0:15:46.160
<v Speaker 1>that they you know, they get how far they were behind,

0:15:46.440 --> 0:15:50.440
<v Speaker 1>and but that they can lead in some ways. I

0:15:50.440 --> 0:15:53.280
<v Speaker 1>think also, you know, for a lot of years when

0:15:53.320 --> 0:15:56.360
<v Speaker 1>they were they've seen you know, Amazon has been in

0:15:56.400 --> 0:15:58.760
<v Speaker 1>the spotlight for a lot of bad reasons in the

0:15:58.800 --> 0:16:01.040
<v Speaker 1>press and in DC for the last couple of years.

0:16:01.200 --> 0:16:04.000
<v Speaker 1>So they have some opportunity here to tell a different

0:16:04.080 --> 0:16:07.280
<v Speaker 1>story as well and sort of stand apart from Amazon.

0:16:07.760 --> 0:16:10.040
<v Speaker 2>I'm thinking of our audience just got about unfortunately, Jason

0:16:10.080 --> 0:16:13.560
<v Speaker 2>about thirty seconds left here. We talked about healthcare healthcare earlier.

0:16:13.840 --> 0:16:18.200
<v Speaker 2>Should our investment world and audience be watching these two

0:16:18.320 --> 0:16:20.080
<v Speaker 2>in terms of what they might do to healthcare?

0:16:20.360 --> 0:16:22.960
<v Speaker 1>Absolutely? I think ten years from now we may I

0:16:23.000 --> 0:16:25.240
<v Speaker 1>don't know if we're being these jobs, but if we were,

0:16:25.360 --> 0:16:27.280
<v Speaker 1>and we were back here, I think we may look

0:16:27.320 --> 0:16:29.800
<v Speaker 1>back and say the biggest impact these companies have had

0:16:29.800 --> 0:16:33.120
<v Speaker 1>in the last ten years on everyday people have is

0:16:33.240 --> 0:16:36.480
<v Speaker 1>in healthcare, whether that's physical clinics like Walmart clinics one

0:16:36.560 --> 0:16:40.520
<v Speaker 1>Medical clinics which now Amazon owns, or virtual care, or

0:16:40.560 --> 0:16:43.840
<v Speaker 1>maybe upending the insurance industry in some way. You know,

0:16:43.880 --> 0:16:47.400
<v Speaker 1>the biggest challenge to Walmart in the healthcare is they've

0:16:47.560 --> 0:16:52.000
<v Speaker 1>just churned through leaders yea, and they say there's a commitment,

0:16:52.040 --> 0:16:54.640
<v Speaker 1>but we need to see that, you know, that sort

0:16:54.680 --> 0:16:56.640
<v Speaker 1>of come through in steady leadership.

0:16:56.800 --> 0:16:57.360
<v Speaker 2>This was fun.

0:16:57.440 --> 0:16:58.720
<v Speaker 1>Good luck with the book, thanks so much.

0:16:58.760 --> 0:16:59.680
<v Speaker 2>Good luck with the white shirt.

0:17:00.200 --> 0:17:02.560
<v Speaker 1>I mean I have many, I have many at home

0:17:02.600 --> 0:17:04.520
<v Speaker 1>waiting to go back. Jason del Ray.

0:17:04.560 --> 0:17:06.920
<v Speaker 2>The book is Winter sells All Amazon, Walmart and the

0:17:06.960 --> 0:17:07.960
<v Speaker 2>Battle for Our Wallet's