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Speaker 1: Today I'm speaking with Harley Finkelstein, the president of Shopify,

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Speaker 1: one of the most influential companies in modern commerce. I

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Speaker 1: saw Harley last in December of twenty twenty one. Boy,

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Speaker 1: that time is flown by. When we spoke together in

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Speaker 1: Shopify's New York City space with a group of aspiring entrepreneurs,

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Speaker 1: an audience reflecting what Shopify does so well. Harley is

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Speaker 1: an entrepreneur in his own right. He was one of

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Speaker 1: the earliest merchants on Shopify, long before he helped lead

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Speaker 1: the company itself. Today he's at the center of a

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Speaker 1: platform powering millions of businesses around the world and shaping

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Speaker 1: how people buy, sell, and build. I'm especially curious to

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Speaker 1: see and hear his perspective on where e commerce is

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Speaker 1: headed and how artificial intelligence may transform the way we shop.

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Speaker 1: Welcome to the podcast.

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Speaker 2: Thank you for having me, Marth. It's pleasure.

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Speaker 1: So when we last spoke in twenty twenty one, you

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Speaker 1: talked about democratizing and that effect on technology entrepreneurs. What

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Speaker 1: has changed in the year since twenty twenty one is

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Speaker 1: only three three years or no, having saved twenty one

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Speaker 1: doing my meth wrong, It's like five years ago. Five

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Speaker 1: years ago. I can't believe it is five years. It

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Speaker 1: seems like yesterday.

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Speaker 2: Yeah, so you somehow look younger, Oh, Sue.

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Speaker 1: Thank you, you don't look any old.

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Speaker 2: Okay, well, thank you. That's very sort of kind of you.

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Speaker 1: So what's changed?

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Speaker 2: A couple of things.

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Speaker 3: I think before we go to twenty twenty one, let's

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Speaker 3: go like back to like two thousand and one. Okay,

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Speaker 3: In two thousand and one, to start a business was

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Speaker 3: incredibly difficult, mostly because it was so expensive. Is before

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Speaker 3: shopley existed. This is before modern commerce existed.

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Speaker 1: Did Amazon exist to A twenty one?

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Speaker 2: They did, but they were very small. They were very small.

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Speaker 3: There are late nineteen nineties they were created, but they

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Speaker 3: were very very small. But modern retail didn't exist then.

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Speaker 3: And so in twenty twenty one, if you wanted to

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Speaker 3: start a business to sell incredible cosmetics on the internet,

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Speaker 3: you were spending a million dollars to do so.

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Speaker 2: And I think.

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Speaker 3: Shopify is dot a good job of making the starting

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Speaker 3: much easier. But the difference between twenty twenty one and

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Speaker 3: twenty twenty six is that I think there's no longer

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Speaker 3: a barrier on starting. There's also no longer a barrier

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Speaker 3: on scaling. And if you look at companies on shop

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Speaker 3: liy today that are doing one hundred million dollars a year.

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Speaker 2: Some of them didn't even exist in twenty twenty one.

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Speaker 1: How many companies are doing one hundred million.

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Speaker 2: On I don't know the exact number, but a lot,

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Speaker 2: a lot.

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Speaker 3: I don't know, one hundred thousands, I'm not sure really, Yeah, yeah,

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Speaker 3: I mean we have millions of stores on the platform

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Speaker 3: we power, but fourteen percent of US e comm So generally,

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Speaker 3: if you're not buying something on like Amazon dot Com

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Speaker 3: and you're buying it online, there's a good chance it's

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Speaker 3: on Shopify. But I think this idea that there's no

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Speaker 3: barrier to scale is a really important one because if

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Speaker 3: you think about the history of I'll give you a

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Speaker 3: couple of examples. On Shopify, we have all these incredible

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Speaker 3: modern brands like yours, but also Alo your ELM Biosciences.

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Speaker 2: It's a good plug. I was gonna say helm, but yeah,

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Speaker 2: I have.

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Speaker 1: To fill it in correctly on this podcast. You know,

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Speaker 1: it's free advertising exactly.

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Speaker 2: It's great idea and it's your podcast.

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Speaker 1: And ELM Biosciences has been successfully using Shopify and very

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Speaker 1: nice these and we're so happy. I know, yes, and

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Speaker 1: you're making your vendors very happy well.

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Speaker 3: And also I get text support text from you every

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Speaker 3: now and then. Lately there's been fewer of those, which

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Speaker 3: means we're doing a very good job, which I'm happy about.

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Speaker 2: But a lot of people think about the.

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Speaker 3: Modern brands, the Aloes, the Vori's, or the on runnings

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Speaker 3: that you shopify, but also like Hunter Douglass uses shopify

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Speaker 3: that was created in nineteen nineteen, Mattel uses shop Play

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Speaker 3: nineteen forty five. The reason I bring up those older

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Speaker 3: names is because it used to take decades or even

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Speaker 3: close to a century to build one hundred or two

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Speaker 3: hundred billion dollar business, and now we're seeing it happen

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Speaker 3: much a much faster clip. But my point is that

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Speaker 3: the ability to start and scale, I think has never

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Speaker 3: happened at this particular pace, even some of the more

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Speaker 3: established brands, like a gym Shark, for example, which is

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Speaker 3: now competing with Nike as a company, that's like starting

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Speaker 3: in twenty twelve out of a dorm room and now

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Speaker 3: they're a multi billion dollar company. So I think the

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Speaker 3: biggest change is that consumers have a different relationship with

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Speaker 3: the brands they buy from, and that's allowed them to

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Speaker 3: grow so much bigger, faster.

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Speaker 1: So you see so many companies early on in the

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Speaker 1: company's career, right what surprised you the most in the

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Speaker 1: last say five years, Which company has really knocked your

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Speaker 1: stocks off?

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Speaker 2: There's some really interesting ones.

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Speaker 3: I mean, you know, I think companies that go into

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Speaker 3: a space that had an existing tam total nesimal market

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Speaker 3: but like completely blowed out out of the water. Emma

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Speaker 3: for example, at Skims, I mean, shapewear is not nothing new,

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Speaker 3: but they were able to attract a much larger demographic

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Speaker 3: and audience to the shape or industry immediately, immediately and fast.

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Speaker 3: So there's brands like that that I think are are

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Speaker 3: mind blown. Kith is another one here in New York City.

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Speaker 3: Amazing what Ronnie has done is he's he's not only

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Speaker 3: created this new brand, but he's revived old brands in

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Speaker 3: collaboration companies like Disney or Salomon. So these are some

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Speaker 3: of the brands I find to be really compelling. But

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Speaker 3: I also find some of the can I just.

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Speaker 1: Say one things, if you hear sirens and you hear

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Speaker 1: noise like that, we're sitting on the fifteenth floor of

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Speaker 1: a New York City office building, and the noise on

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Speaker 1: the streets is unbearable most of the time, so just

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Speaker 1: please put up with it, and oh bear with its.

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Speaker 1: Real life, they have to bear with it every single day.

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Speaker 1: So we might stop for a second right here, Just

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Speaker 1: wait till these really loud sirens go by. Hold on,

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Speaker 1: keep those thoughts. We're talking about extraordinary companies that have

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Speaker 1: made it big in the last five years.

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Speaker 2: On chopify.

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Speaker 1: I think they're going yes, okay.

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Speaker 3: So a brand like Kith, for example, which is not

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Speaker 3: necessarily a novel. You know, streetwear is not new, but

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Speaker 3: the way they've done it, the way that they've created

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Speaker 3: these experiences. You go into their stores and you're not

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Speaker 3: sure if it's a retail store or an ice cream

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Speaker 3: shop because they sell both ice cream and they sell

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Speaker 3: products as well. Brands like that I think are are

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Speaker 3: doing incredibly well. But I'm also fascinated by more than

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Speaker 3: some of the older brands that are reinventing themselves. Birkenstocks,

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Speaker 3: for example, seventeen seventy six was created, Birkenstock still has

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Speaker 3: this incredible audience now.

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Speaker 2: So the idea of those.

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Speaker 1: I'm trying to get my daughter out of those Birkenstocks.

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Speaker 2: She loves them.

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Speaker 3: Oh loves yeah, I mean, and and somehow they're cool.

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Speaker 3: I mean, it's it's remarkable.

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Speaker 1: And the big you're in gloppier. They are the art,

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Speaker 1: that's right.

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Speaker 3: So it's not just the newer brands that are taking off,

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Speaker 3: it's also the more established ones. But I want to

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Speaker 3: say something that my team and I in preparation for

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Speaker 3: this interview, we kept referring to it as the Martha model.

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Speaker 3: And I'll tell you what our version of the Martha

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Speaker 3: model is, which is that everyone's talking about influencer brands

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Speaker 3: right now. And I remember in business school we studied

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Speaker 3: brand promotion from the eighties and they used to use

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Speaker 3: these examples of like Brad Pitt used to do these

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Speaker 3: like partnerships with like Colgate Toothpaste, and maybe he did

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Speaker 3: have nice seat that felt a little bit like a

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Speaker 3: marketing campaign. And I think the difference now is these

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Speaker 3: influencer based brands that we are watching get really, really big.

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Speaker 3: They have a completely different approach to building. And what

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Speaker 3: I mean by that is they have an empathy for

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Speaker 3: the customer and for their audience that is way more

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Speaker 3: like what you've done over your career, meaning you didn't

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Speaker 3: just go and put your name or brand on different things.

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Speaker 3: First you understood there are people that look to you

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Speaker 3: for inspiration, look to you for understanding and knowledge, and

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Speaker 3: then you effectively figured out what can I provide them

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Speaker 3: a value that is very different than the Colgate brad

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Speaker 3: Pitt example where they just said we need a big

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Speaker 3: celebrity to put our name on this.

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Speaker 1: So one of authenticity exactly, yes, And it's so.

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Speaker 3: Deep and it carries through when we look at one

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Speaker 3: of my favorite stores on Chafe's Road Beauty, and what

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Speaker 3: Road has done, what Hailey Beeber has done with that

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Speaker 3: case where you could put your lipstick in the back

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Speaker 3: of it. That didn't necessarily just come from a random

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Speaker 3: idea that came from thousands of conversations with people out

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Speaker 3: there saying what could I do to make your life better?

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Speaker 1: And that is so important and what we did at

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Speaker 1: the magazine early on, and I'm glad you point out

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Speaker 1: that Martha Stewart had something to do with cards of

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Speaker 1: thinking we would show how to make something a craft project,

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Speaker 1: for example, and then light bulb went off and we thought, gosh,

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Speaker 1: these people are not going to spend the time making

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Speaker 1: this product. Let's make the product for them, and then

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Speaker 1: they will see that we cared enough to give them

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Speaker 1: that instant gratification in a product that's right so and

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Speaker 1: that that really did change our business tremendously. Well.

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Speaker 3: If you think about the history of retail, the way

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Speaker 3: it typically worked was to go back three hundred years,

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Speaker 3: like to the baker and the cobbler. First she made

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Speaker 3: the bread, and then you went to sell the bread.

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Speaker 3: First she made the shoes, and then you went to

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Speaker 3: go sell the shoes. For the first time the history

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Speaker 3: of retail, that's being flipped. First, what people are doing

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Speaker 3: is they're building an audience. They're building a real connection

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Speaker 3: with people that they feel they can inspire or they

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Speaker 3: can teach something to. Once they actually have the audience,

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Speaker 3: then they're creating a product around it. That's a very

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Speaker 3: different sequence of events than how it was normally done.

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Speaker 3: And I think, again, I'm not just saying this because

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Speaker 3: you're sitting next to me and because I like you.

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Speaker 3: It's actually I believe you effectively created this new model.

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Speaker 3: And now there are some brands and some celebrities that

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Speaker 3: do it very poorly. They're still just putting their name

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Speaker 3: on some random Chuchka. But there are other celebrity brands

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Speaker 3: that we're watching that have a deep connection and those

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Speaker 3: are becoming billion dollar companies.

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Speaker 1: Well, yeah, that's what Kim Kardashian. I mean, she needed skims,

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Speaker 1: that that body.

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Speaker 2: Why I'm not saying she needed it.

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Speaker 1: Well, no, they know that body needed skims. I mean

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Speaker 1: it was the well, it was the perfect body for her. Yes,

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Speaker 1: that's right to display the skims. And she does it

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Speaker 1: so well even now. I mean she has not given

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Speaker 1: up on that. Every time a new product comes out,

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Speaker 1: she's in it first. That's right, and you all get

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Speaker 1: jealous and you have to buy it because you want

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Speaker 1: to see if it'll actually do that for you. But

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Speaker 1: it really works.

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Speaker 3: But even if you think about like I remember when

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Speaker 3: I was a kid, the first concert I went to

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Speaker 3: I was thirteen years old. The band was a Canadian

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Speaker 3: band called the Tragically Him. I remember walking up to

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Speaker 3: the merch stand where they sold the T shirts, and

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Speaker 3: the T shirts were really crappy merch merch like these

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Speaker 3: like crappy T shirts that with drug company, not merk,

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Speaker 3: no merchandise. And it was this shitty T shirt with

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Speaker 3: all the tour dates printed on the back. We recently

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Speaker 3: did a partnership with Drake for his tour and when

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Speaker 3: you went to the merch stand there, it was collaborations

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Speaker 3: with like Canada Goose. So it wasn't these crappy t

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Speaker 3: shirts with these bad screen pretty beautiful, it was these

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Speaker 3: beautiful jackets for a thousand dollars from Canada Goose. So

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Speaker 3: I I think what's happening now is that the idea

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Speaker 3: of celebrity or influencer brands, when done really well, has

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Speaker 3: the opportunity to build iconic, generational companies in a way

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Speaker 3: we've never seen before.

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Speaker 1: Yeah. Well, you're very astute, and rightly so, because you

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Speaker 1: are selling these brands to a huge audience. How many

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Speaker 1: customers does Shopify have overall?

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Speaker 3: I mean last year we did about four hundred billion

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Speaker 3: dollars worth of products. I think something a neighborhood of

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Speaker 3: six hundred million consumers have bought off a shop of

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Speaker 3: ice store, maybe more. It is quite remarkable. And again,

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Speaker 3: if you think about your favorite brands, whether they're online

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Speaker 3: brands or offline brands. We read a story yesterday and

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Speaker 3: soho do you know the brand to covis Yes?

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Speaker 2: Oh my god.

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Speaker 3: So Tocobs is an incredible company in Austin, Texas. They

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Speaker 3: make cowboy boots.

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Speaker 2: Walk into their store and it's in Soho.

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Speaker 3: You're in New York City. It doesn't feel like New

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Speaker 3: York City. There's a smell the floorboards, there's a bar

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Speaker 3: where they're serving bourbon.

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Speaker 2: These aren't gimmicks, right.

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Speaker 3: There was a period of time in retail where everyone

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Speaker 3: had a DJ in their stores that felt gimmicky. This

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Speaker 3: feels more authentic. And watching these stores get built on

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Speaker 3: Shopify is a great It's one of the great honors

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Speaker 3: of my career.

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Speaker 1: That sounds great. I have to stop in there next

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Speaker 1: toemlement are very cool. Yeah, so you're doing so well.

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Speaker 1: You have so many different companies using Shopify. What Shopify's

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Speaker 1: challenge is coming up?

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Speaker 3: Well, I think a couple of things are changing now,

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Speaker 3: literally in the last couple of weeks. One of them

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Speaker 3: is that, well, actually, let me take a step back.

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Speaker 3: So retail was always very single channel. It was always

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Speaker 3: physical retail. In fact, I don't know if you just

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Speaker 3: take a guess, but do you know, if you think

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Speaker 3: about all retail in the United States, how much of

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Speaker 3: it do you think is done online now?

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Speaker 2: Yes? As a percentage.

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Speaker 1: Oh, it's a percentage probably twenty percent.

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Speaker 2: Wow, good guess eighteen percent. Yeah, and that's okay your home.

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Speaker 3: Sorry's so most people think e commerce is much larger

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Speaker 3: than actually it is. We're less than twenty percent in

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Speaker 3: the US.

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Speaker 1: Well, because the little store on the corner where you

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Speaker 1: get your milk, that's our little grocery store, right, fish letters,

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Speaker 1: I'm not buying that on shopify groceries.

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Speaker 3: But then you look at things like travel, for example,

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Speaker 3: it's entirely online. You can't walk into travel agency anymore.

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Speaker 3: So we're about twenty percent. So if you think about retail,

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Speaker 3: initially it was only brick and mortar, and then around

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Speaker 3: the early two thousands it bifurcated. It was online and offline.

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Speaker 3: And if you listen to executives from very large social retailers,

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Speaker 3: they would say, we're an online retailer or we're an

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Speaker 3: offline retailer, and then eventually they would say, well, actually

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Speaker 3: we are an omni channel. We're online and we're off

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Speaker 3: and that's better, and that's certainly better. The current iteration, though,

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Speaker 3: I think, is that the best retailers on the planet

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Speaker 3: are channel agnostic, meaning they actually don't care if you

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Speaker 3: buy online or offline. Social media now.

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Speaker 1: Has commarces you buy from them as.

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Speaker 3: Long as you buy from them exactly. And the first

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Speaker 3: time I saw that was a brand that was basically

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Speaker 3: an up and comer on on Shopify. You may know,

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Speaker 3: it's called Figs. They make these scrubs, hospital scrubs. Yeah,

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Speaker 3: I remember meeting with Trina from Figs and they were

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Speaker 3: building these stores near hospitals so that healthcare workers can

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Speaker 3: go down and buy them.

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Speaker 1: And with the pit all those everybody wants every cool

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Speaker 1: doctor or healthcare workers wearing.

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Speaker 2: Figs right now.

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Speaker 3: But what I'm realizing now more than ever is that

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Speaker 3: the best entrepreneurs behind these incredible brands, they are completely agnostic.

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Speaker 3: You know, we have an integration on roadblocks for example,

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Speaker 3: so for some brands, if you want to sell inside

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Speaker 3: of roadblocks, we enable that. And then this past week

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Speaker 3: we announced that millions of stores on Shopify will now

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Speaker 3: be accessible through CHATGBT.

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Speaker 2: What does this all lead to.

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Speaker 3: It means that in the next literally couple of weeks,

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Speaker 3: Agentic will become something that will basically everyone will have

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Speaker 3: a personal buyer or concierge, a personal shop er in

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Speaker 3: their pockets. With with Agentic and so every surface area

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Speaker 3: that exists, whether it's social media or it's physical or

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Speaker 3: online or agentic, will be a place where you can use.

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Speaker 1: The leader in this in the country. Which companies are

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Speaker 1: leading in this.

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Speaker 3: I mean, part of the role we're trying to play

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Speaker 3: with Shopify is that we want to make it so

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Speaker 3: that when you're ELM selling on Shopify, you can sell

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Speaker 3: anywhere you want.

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Speaker 2: We make it really easy.

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Speaker 3: So we're trying to be the leader at that. We're

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Speaker 3: also trying to be the launch partners for Gemini and

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Speaker 3: chat GBT and Microsoft is copilot now, so that your team,

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Speaker 3: who I got to meet earlier today says we want

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Speaker 3: to sell everywhere where our consumer might be spending their time,

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Speaker 3: and right from shoplay you can do that.

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Speaker 1: And which companies are investing in this in the biggest way?

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Speaker 3: Oh, I mean, I think there's some of the larger

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Speaker 3: retailers like Walmart's doing a good job. Obviously you've heard

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Speaker 3: Amazon that they've talked.

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Speaker 2: About it as well.

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Speaker 3: But actually I think the advantage is for people like you.

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Speaker 3: It's for ELM and some of the smaller brands that

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Speaker 3: actually are much more nimble, like I can have a

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Speaker 3: conversation with your team after this interview, and I can

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Speaker 3: show them three different ways to get found on chat GBT.

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Speaker 2: So here's the thing about.

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Speaker 1: And I guess what, we have those people right here waiting.

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Speaker 2: They're they're all wait, they're all literally in the room

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Speaker 2: right now. But I will say this.

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Speaker 3: The one thing about agentic commerce that is so unique

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Speaker 3: is that it's merit based. When you think about a

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Speaker 3: personal shopper that you have at a store, there's always

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Speaker 3: an incentive for them to sell a particular product commission,

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Speaker 3: higher price on commission. The cool part about agentic when

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Speaker 3: done right, is it's one hundred percent based on ag

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Speaker 3: agentic A G, E, N T I C. Yeah, so

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Speaker 3: let's talk about what agentic commerce is. So agentic commerce

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Speaker 3: is you're using one of these agentic applications Chat GBT, Gemini,

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Speaker 3: which is a Google product or a Microsoft copilot, and

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Speaker 3: you have a conversation with them and the way that

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Speaker 3: I'd like to think about it is like having a

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Speaker 3: conversation with a friend or having a conversation with your hairdresser,

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Speaker 3: where you say, I'm looking for a particular product, here's

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Speaker 3: the price that i'd like to spend based on all

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Speaker 3: of our chat history what do you think I should

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Speaker 3: I should buy? And it's going to be merit based.

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Speaker 3: It's going to show you products that it believes you want. So,

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Speaker 3: for example, if you're doing research on you know, Mount

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Speaker 3: Mountain climbing boots, and they know that you like light

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Speaker 3: boots not heavy boots, the products that's going to surface

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Speaker 3: to you are going to be light boots, not heavier boots.

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Speaker 3: Some people prefer heavier ones to light ones. So the

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Speaker 3: idea that this application knows everything about you and it

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Speaker 3: can surface products that it knows you're going to purchase.

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Speaker 3: That is a major turning point at AI.

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Speaker 2: And that's all AI based.

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Speaker 1: That is AI. So AI is going to help you

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Speaker 1: and your platform tremendously in the next couple of years.

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Speaker 3: Yes, so if you're a merchant like you, you're going

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Speaker 3: to find new customers. But if you're just a consumer

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Speaker 3: and you're listening to this show you, everyone now has

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Speaker 3: the opportunity to have a personal shopper in their pocket

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Speaker 3: that knows every product on the planet, knows everything about you,

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Speaker 3: and can objectively surface to you incredible product.

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Speaker 2: I think it's going to be a really exciting thing.

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Speaker 1: I have to upload my preferences to to my to

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Speaker 1: my agent.

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Speaker 3: Are you currently having conversations with your eight with an agent?

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Speaker 3: You are, then I think it already has most of

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Speaker 3: the information I need.

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Speaker 1: I started to have very bad conversations, one of them.

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Speaker 2: What's what's going on there? Grock? Okay?

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Speaker 1: I don't like Grock? Why not too personal?

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Speaker 2: Okay?

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Speaker 1: Meaning what too invasive?

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Speaker 2: Okay? I was asking questions that shouldn't have been, asking.

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Speaker 1: Improper, improper requests and all of that. And I had

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Speaker 1: my grandchildren listen to it. It was they were laughing,

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Speaker 1: but they were also very upset.

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Speaker 2: Why you have a fourteen year old grandaughter, I believe,

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Speaker 2: and a.

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Speaker 1: Fourteen year old boy, and they're they're very anti AI.

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Speaker 3: Really Yeah, So I'm a no optimist. I actually think

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Speaker 3: the stuff is going to make everything way better.

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Speaker 1: Well, I hope so, and I hope so. I mean,

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Speaker 1: I hope so too.

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Speaker 2: Yeah, But a.

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Speaker 1: Lot of children are still, you know, they're questioning it.

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Speaker 1: They are so because it's a little it's RAUNCHI is

399
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Speaker 1: not the right word exactly, but it's I think invasive

400
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Speaker 1: is a good word.

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Speaker 2: But you have to believe.

402
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Speaker 3: The reason I like this term techno optimist is that

403
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Speaker 3: I think you have to be optimistic that things are

404
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Speaker 3: going to.

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Speaker 1: Get better, better, very way better.

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Speaker 2: Way faster.

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Speaker 1: You know.

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Speaker 3: I remember when the iPad iPod first came out. I

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Speaker 3: gave it to my mom as a gift, and she

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Speaker 3: didn't She found that the turning thing on it wasn't

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Speaker 3: in work properly was as intuitive, and she she never

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Speaker 3: used it again. And I told her, I was like,

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Speaker 3: I was like, just take your time on it. The

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Speaker 3: next generation is gonna be way better. But she wasn't.

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Speaker 1: She was My mom adopted everything she did. Oh yeah,

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Speaker 1: she took she took lessons on the computer. And I

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Speaker 1: just met somebody who taught her how to use how

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Speaker 1: to use her her Apple computer. Oh amazing, and he

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Speaker 1: remembered that she was a real good student's ninety.

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Speaker 3: Well, my grandparents are still in our lives in their

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Speaker 3: nineties and the idea of having FaceTime with their great

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Speaker 3: grandchildren is mind blowing. I mean, it's such a it's

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Speaker 3: such an amazing They.

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Speaker 1: Can do it daily or hours, whatever they want.

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Speaker 2: And wherever we're traveling. But this idea of techno optimism, I.

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Speaker 1: Think is really I think we should we should highlight

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Speaker 1: that word techno optimism. And I think we should all

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Speaker 1: pay attention to that because I think that is a

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Speaker 1: trend that needs to take.

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Speaker 3: Place, because if you see, if you see something you

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Speaker 3: don't like right now and you give up in the technology,

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Speaker 3: you may miss the biggest wave in the history of

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Speaker 3: the world.

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Speaker 2: And that's how I miss.

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Speaker 1: And I mean so many people have already missed. They

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Speaker 1: have already missed being shopify.

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Speaker 2: That's right.

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Speaker 1: I was in Spain trying to sell a product in

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Speaker 1: a department store. That department store, the biggest department store

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Speaker 1: in Spain, was totally anti technology, anti technology.

441
00:18:44,720 --> 00:18:46,320
Speaker 2: Wow, how is the experience for you?

442
00:18:46,960 --> 00:18:50,680
Speaker 1: It was shocking. I was shocked at an avant garde

443
00:18:51,080 --> 00:18:54,679
Speaker 1: country like Spain because they're they're manufacturing the most beautiful stuff.

444
00:18:55,080 --> 00:18:57,200
Speaker 1: They have Zara and they have Zara Home, and they

445
00:18:57,200 --> 00:19:00,000
Speaker 1: have so many different companies there, and they could not

446
00:19:00,440 --> 00:19:03,560
Speaker 1: they did not want to put anything online shopping. Yeah,

447
00:19:03,960 --> 00:19:06,080
Speaker 1: you know, and that department store is in big trouble now,

448
00:19:06,560 --> 00:19:07,360
Speaker 1: just like Macy's.

449
00:19:07,520 --> 00:19:09,399
Speaker 3: You know, there's that term that I brought up earlier,

450
00:19:09,480 --> 00:19:12,280
Speaker 3: TAM total addressable market. The one thing that model total

451
00:19:12,359 --> 00:19:14,760
Speaker 3: total addressable market. So, for example, if I have a

452
00:19:14,760 --> 00:19:17,159
Speaker 3: store here in New York, city and it's on a

453
00:19:17,160 --> 00:19:19,040
Speaker 3: city block. I'd say it's in Soho, for example, on

454
00:19:19,080 --> 00:19:21,040
Speaker 3: Spring Street. The people that can buy from my store

455
00:19:21,119 --> 00:19:23,160
Speaker 3: have to walk into my store. So there's a there's

456
00:19:23,160 --> 00:19:25,200
Speaker 3: an addressable market of people that live in the area

457
00:19:25,240 --> 00:19:27,800
Speaker 3: that will buy from me. The greatest part about digital

458
00:19:28,280 --> 00:19:31,800
Speaker 3: commerce online commerce is that your tam is global. That

459
00:19:31,880 --> 00:19:34,119
Speaker 3: the second you hit the launch button, you're not selling

460
00:19:34,160 --> 00:19:36,440
Speaker 3: to Soho or New York or even the United States.

461
00:19:36,480 --> 00:19:37,600
Speaker 2: You're selling globally.

462
00:19:37,880 --> 00:19:39,879
Speaker 3: And you think about all these little stores in Spain

463
00:19:40,040 --> 00:19:42,000
Speaker 3: or let's say, are all over Europe.

464
00:19:42,240 --> 00:19:44,320
Speaker 2: These artisans they make beautiful things.

465
00:19:44,800 --> 00:19:46,560
Speaker 1: Now they're available everywhere.

466
00:19:46,600 --> 00:19:48,560
Speaker 2: That's exactly right, and now I love to it.

467
00:19:48,600 --> 00:19:49,919
Speaker 3: And they can take a video and put it on

468
00:19:49,960 --> 00:19:52,399
Speaker 3: Instagram and they can show them making the product and

469
00:19:52,400 --> 00:19:54,520
Speaker 3: they can engage their their consumer inside.

470
00:19:54,600 --> 00:19:56,680
Speaker 1: Just bought that. I just bought that new peel Or

471
00:19:57,280 --> 00:20:00,040
Speaker 1: three for thirty nine to ninety five. I bought it

472
00:20:00,080 --> 00:20:04,280
Speaker 1: amazing and it came yesterday. It's not exactly what it was, okay, yeah,

473
00:20:04,480 --> 00:20:06,800
Speaker 1: but it works first, but you have to learn how

474
00:20:06,800 --> 00:20:09,320
Speaker 1: to go that way instead of this. Okay, so it's

475
00:20:09,720 --> 00:20:10,680
Speaker 1: it's not.

476
00:20:10,600 --> 00:20:12,080
Speaker 2: Into it too. You should make I mean you should

477
00:20:12,080 --> 00:20:12,919
Speaker 2: make a better version of that.

478
00:20:13,400 --> 00:20:14,720
Speaker 1: Yeah, it could come this way, that's right.

479
00:20:14,800 --> 00:20:16,080
Speaker 2: Yeah, both ways.

480
00:20:16,080 --> 00:20:18,640
Speaker 1: They should have No, they should have one of each,

481
00:20:18,760 --> 00:20:20,800
Speaker 1: that's right. But I don't want to do that because

482
00:20:20,840 --> 00:20:24,000
Speaker 1: people people get confused, and I know the reason why.

483
00:20:24,080 --> 00:20:27,200
Speaker 1: But that's what I try things all the time.

484
00:20:27,200 --> 00:20:27,800
Speaker 2: But that's the best thing.

485
00:20:27,840 --> 00:20:30,080
Speaker 3: Would you just said that story about like a little

486
00:20:30,080 --> 00:20:32,240
Speaker 3: store in Spain or a store you know story they

487
00:20:32,880 --> 00:20:35,000
Speaker 3: and it's a mean shame on them for in fact,

488
00:20:35,040 --> 00:20:36,399
Speaker 3: if you're that department or you should call me.

489
00:20:36,400 --> 00:20:38,600
Speaker 2: Because you should be online. But think about that.

490
00:20:38,640 --> 00:20:41,439
Speaker 3: The idea that today, in twenty twenty six, you can

491
00:20:41,480 --> 00:20:43,600
Speaker 3: start a business. This is not a pitch for Shopley,

492
00:20:43,680 --> 00:20:45,720
Speaker 3: but you could use any platform. I think shop a

493
00:20:45,840 --> 00:20:47,520
Speaker 3: is by far the best. You can start a business

494
00:20:47,520 --> 00:20:49,879
Speaker 3: for thirty nine bucks. And not only can that store

495
00:20:50,040 --> 00:20:52,280
Speaker 3: sell billions of dollars, but you can sell to a

496
00:20:52,320 --> 00:20:56,920
Speaker 3: global audience immediately. That was impossible even ten years ago.

497
00:20:57,280 --> 00:20:58,040
Speaker 2: And now this.

498
00:20:58,160 --> 00:21:00,600
Speaker 3: Idea that and if it doesn't work, it's okay, thirty

499
00:21:00,640 --> 00:21:03,240
Speaker 3: nine dollars, you can try something else. So the cost

500
00:21:03,280 --> 00:21:05,240
Speaker 3: of failure is about as low it's ever been. The

501
00:21:05,280 --> 00:21:07,160
Speaker 3: ability to scale us as high as has ever been.

502
00:21:07,560 --> 00:21:09,680
Speaker 3: In many ways, this is sort of the golden age

503
00:21:09,720 --> 00:21:12,719
Speaker 3: of entrepreneurship and most people still don't realize it.

504
00:21:12,880 --> 00:21:23,679
Speaker 1: Well, you're you're right. I totally agree with that. You

505
00:21:23,720 --> 00:21:25,520
Speaker 1: started your first business at seventeen.

506
00:21:25,640 --> 00:21:25,960
Speaker 2: I did.

507
00:21:26,160 --> 00:21:28,600
Speaker 1: What did that early experience teach you that you still

508
00:21:28,800 --> 00:21:29,840
Speaker 1: refer to today?

509
00:21:30,119 --> 00:21:30,280
Speaker 2: Oh?

510
00:21:30,359 --> 00:21:33,080
Speaker 3: Man, it's a great question. So I started that business

511
00:21:33,080 --> 00:21:35,199
Speaker 3: out of necessity. I had to support myself and my

512
00:21:35,240 --> 00:21:37,720
Speaker 3: mom and sisters. My dad wasn't around at that point.

513
00:21:37,800 --> 00:21:38,840
Speaker 1: Had you been to college?

514
00:21:38,880 --> 00:21:41,080
Speaker 2: I was in college at the time you were, Richard.

515
00:21:41,440 --> 00:21:43,520
Speaker 3: I went to high school in South Florida and bot Ratone,

516
00:21:43,880 --> 00:21:45,199
Speaker 3: and my parents didn't have a lot of money. So

517
00:21:45,200 --> 00:21:47,320
Speaker 3: I went to McGill University in Montreal. That's a great

518
00:21:47,400 --> 00:21:49,480
Speaker 3: university school and it was cheap. Yeah, I was born

519
00:21:49,520 --> 00:21:52,719
Speaker 3: there and I started selling T shirts universities across Canada.

520
00:21:53,040 --> 00:21:54,960
Speaker 3: My dad wasn't there, and I had to pay for

521
00:21:55,000 --> 00:21:56,960
Speaker 3: my mom. I had to pay for tuition, helped my mom.

522
00:21:57,200 --> 00:22:01,400
Speaker 3: So it was there were faculty of faculty of science,

523
00:22:02,240 --> 00:22:06,080
Speaker 3: just promotional products for universities across Canada. What I love

524
00:22:06,080 --> 00:22:08,720
Speaker 3: about entrepreneurship generally, when I loved about that experience, was.

525
00:22:08,880 --> 00:22:12,080
Speaker 3: Entrepreneurship doesn't care about what your last name is, doesn't

526
00:22:12,119 --> 00:22:14,640
Speaker 3: care about how much experience you have. It just cares

527
00:22:14,640 --> 00:22:17,719
Speaker 3: about are you creating value for your customers exactly? And

528
00:22:17,760 --> 00:22:21,159
Speaker 3: if you create value, nothing else matters. It is the

529
00:22:21,160 --> 00:22:24,560
Speaker 3: most democratizing thing that humans can do. It's the reason

530
00:22:24,640 --> 00:22:28,080
Speaker 3: why I like talking about Staples being on Shopify, but

531
00:22:28,080 --> 00:22:30,399
Speaker 3: I'm even more excited to talk about Danny from Alo

532
00:22:30,920 --> 00:22:33,879
Speaker 3: or Ben from Jim Shark or Martha from ELM, because

533
00:22:33,920 --> 00:22:36,520
Speaker 3: you all have built something from nothing and now you're

534
00:22:36,560 --> 00:22:41,880
Speaker 3: scaling it. So being seventeen years old, I didn't necessarily

535
00:22:42,080 --> 00:22:46,280
Speaker 3: I don't recommend having to pay your sister's tuition or.

536
00:22:46,200 --> 00:22:48,840
Speaker 2: Paying the bills. I have seventeen that so I did

537
00:22:48,880 --> 00:22:49,080
Speaker 2: it too.

538
00:22:49,359 --> 00:22:52,159
Speaker 1: But it's character building, it is sure, it is that,

539
00:22:52,240 --> 00:22:54,640
Speaker 1: and it teaches you business from the ground totally.

540
00:22:54,720 --> 00:22:56,439
Speaker 3: So I had to figure out, like what does a

541
00:22:56,440 --> 00:22:57,600
Speaker 3: P and L look like? I have to figure out

542
00:22:57,600 --> 00:22:59,080
Speaker 3: how to do marketing. I to figure out how to

543
00:22:59,119 --> 00:23:02,119
Speaker 3: register a business. So doing that and my wife who's

544
00:23:02,160 --> 00:23:04,480
Speaker 3: in the room right now, Lindsay, who's also an entrepreneur,

545
00:23:04,600 --> 00:23:06,199
Speaker 3: we talked to our kids all the time of an

546
00:23:06,359 --> 00:23:08,520
Speaker 3: entrepreneurship because we want to make it something that they

547
00:23:08,600 --> 00:23:10,800
Speaker 3: consider as not just the thing you do when you

548
00:23:11,000 --> 00:23:12,760
Speaker 3: don't have any choices, but it's the thing you do

549
00:23:12,880 --> 00:23:13,960
Speaker 3: to find your life's work.

550
00:23:14,520 --> 00:23:17,160
Speaker 1: You were actually one of the first merchants on shopify,

551
00:23:17,200 --> 00:23:20,600
Speaker 1: so Shopify existed before you came up. That's right, Yeah, okay,

552
00:23:20,760 --> 00:23:22,119
Speaker 1: what made you go to Shopify?

553
00:23:22,400 --> 00:23:22,560
Speaker 2: So?

554
00:23:22,640 --> 00:23:24,960
Speaker 3: I had this teacher business in college, and then I

555
00:23:25,000 --> 00:23:27,239
Speaker 3: went to law school, not to become a lawyer, but

556
00:23:27,240 --> 00:23:30,359
Speaker 3: to become a better entrepreneur. And the teacher business I

557
00:23:30,400 --> 00:23:33,080
Speaker 3: had in college required that I went to go visit universities.

558
00:23:33,119 --> 00:23:36,560
Speaker 3: It was very it was a relationship business. In law school,

559
00:23:36,600 --> 00:23:38,679
Speaker 3: you actually have to attend classes on college where you.

560
00:23:38,680 --> 00:23:40,359
Speaker 2: Can just go to the example you do. So I

561
00:23:40,359 --> 00:23:40,760
Speaker 2: needed a.

562
00:23:40,760 --> 00:23:42,920
Speaker 3: Business that would run virtually, and I ended up moving

563
00:23:42,920 --> 00:23:44,840
Speaker 3: to Ottawa, Canada to go to law school. A mentor

564
00:23:44,840 --> 00:23:47,800
Speaker 3: of mine was teaching law there and I didn't have

565
00:23:47,840 --> 00:23:49,760
Speaker 3: any friends and never been to Autawa before, but I

566
00:23:49,760 --> 00:23:51,520
Speaker 3: started hanging out with a group of entrepreneurs at a

567
00:23:51,560 --> 00:23:54,080
Speaker 3: local coffee shop every Friday night. We called ourselves the

568
00:23:54,119 --> 00:23:57,040
Speaker 3: Young Entrepreneurs Club. And one of those entrepreneurs was Toby,

569
00:23:57,359 --> 00:23:59,480
Speaker 3: who built Shopify and he built it for himself. He

570
00:23:59,560 --> 00:24:01,960
Speaker 3: was trying to say snowboards on the internet, couldn't find

571
00:24:01,960 --> 00:24:04,560
Speaker 3: good software. So he built the software and quickly realized

572
00:24:04,600 --> 00:24:07,439
Speaker 3: that the software business was more valuable than the snowboard business.

573
00:24:07,920 --> 00:24:10,320
Speaker 3: And so I needed a tool that would allow me

574
00:24:10,400 --> 00:24:12,679
Speaker 3: to take my T shirt business online. And so I

575
00:24:12,720 --> 00:24:15,359
Speaker 3: became I was store number. The number was one hundred

576
00:24:15,359 --> 00:24:17,840
Speaker 3: and thirty six on Shopify. Oh great, and now we

577
00:24:17,840 --> 00:24:19,960
Speaker 3: have millions, of course, but one hundred and thirty six

578
00:24:20,000 --> 00:24:23,000
Speaker 3: on Shopify. I moved my store online and I spent

579
00:24:23,320 --> 00:24:25,840
Speaker 3: the rest of law school building this online store. And

580
00:24:26,600 --> 00:24:29,040
Speaker 3: it was an amazing experience. Like I remember hitting the

581
00:24:29,119 --> 00:24:32,359
Speaker 3: launch button sitting in tax law class, and immediately I

582
00:24:32,440 --> 00:24:35,040
Speaker 3: was selling globally and I was competing with like Walmart

583
00:24:35,119 --> 00:24:37,080
Speaker 3: selling T shirts. And so it was after I finished

584
00:24:37,119 --> 00:24:39,000
Speaker 3: law school I called Toby and said, the only thing

585
00:24:39,040 --> 00:24:40,160
Speaker 3: I want to do with the rest of my life

586
00:24:40,240 --> 00:24:42,280
Speaker 3: is helped you build this company, because I think that

587
00:24:42,480 --> 00:24:45,240
Speaker 3: it was Toby's still there, Toby there, yeah, and we've

588
00:24:45,240 --> 00:24:47,440
Speaker 3: been Our partnership has been almost two decades long now,

589
00:24:47,440 --> 00:24:49,480
Speaker 3: and he runs the products out of companies. One of

590
00:24:49,520 --> 00:24:52,320
Speaker 3: the greatest product engineers on the planet, and I'm the

591
00:24:52,320 --> 00:24:53,040
Speaker 3: storyteller and.

592
00:24:53,200 --> 00:24:54,480
Speaker 1: You're still launching products.

593
00:24:54,560 --> 00:24:55,480
Speaker 2: We're still launching products.

594
00:24:56,080 --> 00:24:57,240
Speaker 1: Firebilly Team.

595
00:24:57,280 --> 00:24:58,600
Speaker 2: Oh wow, what is.

596
00:24:58,560 --> 00:25:02,439
Speaker 3: Fire That's an interesting shadow. So uh yeah, So do

597
00:25:02,480 --> 00:25:04,639
Speaker 3: you drink tea? I do drink tea, and I have

598
00:25:04,720 --> 00:25:06,800
Speaker 3: high anxiety, so I can't drink coffee in the afternoon.

599
00:25:06,800 --> 00:25:07,320
Speaker 1: Oh okay.

600
00:25:07,480 --> 00:25:10,560
Speaker 2: So actually, my wife, who is as mentioned.

601
00:25:10,280 --> 00:25:12,200
Speaker 1: Not finding out a lot about horror.

602
00:25:12,240 --> 00:25:13,880
Speaker 2: That's right, Well, we'll get into the anxiety sect.

603
00:25:13,920 --> 00:25:15,800
Speaker 3: But but Lindsay, who's in the room, has a high

604
00:25:15,880 --> 00:25:18,439
Speaker 3: end gift basket business, and in your gift basket she

605
00:25:18,440 --> 00:25:20,240
Speaker 3: actually put some fire Belly tea, so you have some

606
00:25:20,440 --> 00:25:23,840
Speaker 3: in there as well. So during the pandemic, I was

607
00:25:23,880 --> 00:25:27,000
Speaker 3: at home like everyone else, and my anxiety was spiking

608
00:25:27,200 --> 00:25:29,240
Speaker 3: because I'm an extrovert and I need to be around

609
00:25:29,240 --> 00:25:31,960
Speaker 3: people and I wasn't and so I was compensating for

610
00:25:32,040 --> 00:25:35,320
Speaker 3: that by drinking way too much coffee. And my best friend,

611
00:25:35,440 --> 00:25:37,760
Speaker 3: his name is David. He created a company called David's Tea,

612
00:25:37,880 --> 00:25:40,960
Speaker 3: a very large tea company. He started curating these boxes

613
00:25:41,000 --> 00:25:43,320
Speaker 3: of really high end tea for me and it was

614
00:25:43,359 --> 00:25:44,240
Speaker 3: like really high and.

615
00:25:44,280 --> 00:25:46,080
Speaker 1: Side tried book.

616
00:25:46,080 --> 00:25:48,240
Speaker 2: We never knows good oh so buckleed.

617
00:25:48,320 --> 00:25:50,200
Speaker 1: Yeah, I'll check it out. It's actually bookwet.

618
00:25:50,200 --> 00:25:52,640
Speaker 3: It's actually bucketting that that's the brand. Also, no, no, okay,

619
00:25:52,640 --> 00:25:54,600
Speaker 3: it's actually it's literally buckweed.

620
00:25:54,720 --> 00:25:57,240
Speaker 1: Yeah, and it is. It's toasted buckweed. Oh.

621
00:25:57,240 --> 00:25:57,640
Speaker 2: Interesting.

622
00:25:57,680 --> 00:26:01,359
Speaker 1: It is a delicious try an infusion. So it's not

623
00:26:01,440 --> 00:26:03,240
Speaker 1: really gi it doesn't give um a tea play.

624
00:26:03,359 --> 00:26:05,760
Speaker 3: But so fire Belly was basically this is it real

625
00:26:05,800 --> 00:26:08,040
Speaker 3: t it's real, real tea. He goes to the farms

626
00:26:08,160 --> 00:26:10,480
Speaker 3: in Japan and he finds it. And I also, I

627
00:26:10,520 --> 00:26:13,040
Speaker 3: love the idea of being a merchant myself. I mean

628
00:26:13,160 --> 00:26:14,639
Speaker 3: the ability for me to talk to you and your

629
00:26:14,640 --> 00:26:17,200
Speaker 3: team about all the cool products that we're building a shopify.

630
00:26:17,440 --> 00:26:19,879
Speaker 3: I mean I know this product well because the president

631
00:26:19,880 --> 00:26:22,520
Speaker 3: of the Shopify, But actually I'm also a merchant, and

632
00:26:22,560 --> 00:26:25,679
Speaker 3: the idea that I can have real empathy uber merchant

633
00:26:26,040 --> 00:26:30,120
Speaker 3: doing to me is amazing. So on the weekends when

634
00:26:30,119 --> 00:26:32,520
Speaker 3: I'm not with my my wife and children, I'm Dave

635
00:26:32,560 --> 00:26:34,440
Speaker 3: and I are running this little tea company called Firebelly

636
00:26:34,440 --> 00:26:35,119
Speaker 3: t dot com.

637
00:26:36,480 --> 00:26:37,320
Speaker 1: How big is that? Now?

638
00:26:37,520 --> 00:26:38,600
Speaker 2: We did a few million dollars here.

639
00:26:38,640 --> 00:26:42,399
Speaker 1: Wow, So AI is certainly changing the way that we

640
00:26:42,520 --> 00:26:45,280
Speaker 1: are shopping. But how is it not in theory, but

641
00:26:45,320 --> 00:26:47,760
Speaker 1: in our daily lives. What's it doing to us?

642
00:26:48,119 --> 00:26:50,160
Speaker 3: I think it's making us if you use it properly.

643
00:26:50,200 --> 00:26:52,240
Speaker 3: I think it's making us much smarter. I know that

644
00:26:52,280 --> 00:26:55,160
Speaker 3: there's this theory out there that it's making us lazy.

645
00:26:55,240 --> 00:26:57,119
Speaker 3: You know how you know that that's saying that, like

646
00:26:57,200 --> 00:27:00,119
Speaker 3: alcohol just makes people be their real self. Like, if

647
00:27:00,119 --> 00:27:01,680
Speaker 3: you're a jerk in real life and you get drunk,

648
00:27:01,720 --> 00:27:04,320
Speaker 3: you're going to be a jerk. I've heard that saying before,

649
00:27:04,359 --> 00:27:06,960
Speaker 3: and I think in many ways, AI has the opportunity

650
00:27:07,000 --> 00:27:09,920
Speaker 3: to make ambitious people aren't more effective. What I mean

651
00:27:09,960 --> 00:27:12,080
Speaker 3: by that is what used to take me two and

652
00:27:12,119 --> 00:27:14,080
Speaker 3: a half hours of research I can do now in

653
00:27:14,119 --> 00:27:15,159
Speaker 3: like two and a half minutes.

654
00:27:15,560 --> 00:27:15,840
Speaker 2: Now.

655
00:27:16,040 --> 00:27:17,440
Speaker 3: I think there is a way for you to become

656
00:27:17,520 --> 00:27:19,400
Speaker 3: lazy by it. I mean there are people out there

657
00:27:19,440 --> 00:27:21,520
Speaker 3: who you read something, read an article, you're like, I

658
00:27:21,600 --> 00:27:24,320
Speaker 3: know this wasn't written by them. I think that's back

659
00:27:24,359 --> 00:27:27,320
Speaker 3: to your point about authenticity. That's not the point. The

660
00:27:27,359 --> 00:27:30,359
Speaker 3: point is that AI is like, it's like a superpower

661
00:27:30,359 --> 00:27:31,200
Speaker 3: for an entrepreneur.

662
00:27:31,520 --> 00:27:32,560
Speaker 2: Well, I'll give you an example.

663
00:27:32,840 --> 00:27:34,800
Speaker 3: We have an AI product inside a shop like called

664
00:27:34,840 --> 00:27:39,119
Speaker 3: simjim simulation simjim. What simjym does is it simulates what

665
00:27:39,160 --> 00:27:42,439
Speaker 3: would happen if you launch a particular campaign, so before

666
00:27:42,480 --> 00:27:45,000
Speaker 3: you actually launch a marketing campaign and spend one hundred

667
00:27:45,040 --> 00:27:45,600
Speaker 3: thousand dollars.

668
00:27:46,200 --> 00:27:47,960
Speaker 1: It's a gym that you don't have to know to.

669
00:27:49,680 --> 00:27:53,320
Speaker 3: What you could look like if you actually But simjim

670
00:27:53,400 --> 00:27:55,639
Speaker 3: is an AI tool built into Shopify that allows you

671
00:27:55,680 --> 00:27:59,280
Speaker 3: to simulate actual campaigns. We have another product called Sidekick

672
00:27:59,400 --> 00:28:01,840
Speaker 3: inside a shop which knows everything about your business and

673
00:28:01,880 --> 00:28:04,960
Speaker 3: everything about Shopify. So instead of like you have a

674
00:28:04,960 --> 00:28:07,040
Speaker 3: great team here, but you can also you yourself can

675
00:28:07,040 --> 00:28:08,919
Speaker 3: go to Sidekick and you can say, I want to

676
00:28:08,960 --> 00:28:11,760
Speaker 3: know what is the name the first name of my

677
00:28:12,160 --> 00:28:14,840
Speaker 3: number one customer, and I want to know what that

678
00:28:14,880 --> 00:28:17,080
Speaker 3: customer bought last, and now I want to know what

679
00:28:17,160 --> 00:28:20,440
Speaker 3: the customer is going to buy next. And this tool, Sidekick,

680
00:28:20,440 --> 00:28:22,520
Speaker 3: which is built in the Shopify, will tell you.

681
00:28:22,480 --> 00:28:23,040
Speaker 2: All of that.

682
00:28:23,160 --> 00:28:25,840
Speaker 3: Wow, that is why I think this idea that like

683
00:28:25,880 --> 00:28:28,960
Speaker 3: it is rocket fuel for entrepreneurs or ambitious people.

684
00:28:29,240 --> 00:28:31,399
Speaker 2: I use in my personal life. I noticed nearby as

685
00:28:31,440 --> 00:28:32,280
Speaker 2: a pre Nova.

686
00:28:32,080 --> 00:28:33,880
Speaker 1: Scan right downstairs.

687
00:28:34,320 --> 00:28:36,440
Speaker 2: I love you go every year my birthday.

688
00:28:36,640 --> 00:28:37,000
Speaker 1: You're right.

689
00:28:37,040 --> 00:28:38,360
Speaker 2: I go every year on my birthday.

690
00:28:38,600 --> 00:28:41,040
Speaker 3: I have lots of cancer in my family, so my

691
00:28:41,040 --> 00:28:43,080
Speaker 3: wife and I do pre Nova all the time, and

692
00:28:43,120 --> 00:28:45,720
Speaker 3: whenever I get the results from it, obviously they give

693
00:28:45,760 --> 00:28:48,000
Speaker 3: me the results that it's scanned by doctors.

694
00:28:47,600 --> 00:28:50,440
Speaker 1: And I always feel better, of course.

695
00:28:50,920 --> 00:28:53,520
Speaker 3: But then I also put all that data right into

696
00:28:53,560 --> 00:28:56,920
Speaker 3: my own health file, inside of my own AGENTICA, inside

697
00:28:56,920 --> 00:28:59,560
Speaker 3: of chat gibt. This idea that I'm able to create

698
00:28:59,560 --> 00:29:02,480
Speaker 3: this file system, but everything in my life that I

699
00:29:02,480 --> 00:29:04,760
Speaker 3: can update, that I can look back on, that I

700
00:29:04,800 --> 00:29:07,200
Speaker 3: can do analysis on. I think that again back to

701
00:29:07,200 --> 00:29:09,800
Speaker 3: the techno optimism point. I think you can use AI

702
00:29:09,880 --> 00:29:12,440
Speaker 3: both as an entrepreneur to make your business bigger, but

703
00:29:12,480 --> 00:29:14,760
Speaker 3: as a human being to make your life better if

704
00:29:14,800 --> 00:29:16,560
Speaker 3: you use it really well. And the way I think

705
00:29:16,600 --> 00:29:18,160
Speaker 3: you should talk to it is talk to it like

706
00:29:18,200 --> 00:29:21,640
Speaker 3: you do your your hairdresser, your barber, ask for advice,

707
00:29:21,880 --> 00:29:23,760
Speaker 3: but obviously have strong opinions. I'm not going to go

708
00:29:23,840 --> 00:29:25,960
Speaker 3: dye my hair blue, but I often will have a

709
00:29:25,960 --> 00:29:27,479
Speaker 3: conversation with my barber to say, what do you think

710
00:29:27,520 --> 00:29:30,400
Speaker 3: I should do right now? Summer's coming so that a

711
00:29:31,240 --> 00:29:32,720
Speaker 3: buzz cut and I don't really want to go.

712
00:29:33,040 --> 00:29:34,200
Speaker 2: I don't really want to go too short.

713
00:29:34,320 --> 00:29:37,680
Speaker 1: I think if you would trust AI to tell you that.

714
00:29:37,880 --> 00:29:39,800
Speaker 3: No, and I use but I would use AI to

715
00:29:39,800 --> 00:29:41,720
Speaker 3: to Last night, Linds and I went to this amazing

716
00:29:41,760 --> 00:29:43,040
Speaker 3: restaurant called Orsh.

717
00:29:42,920 --> 00:29:45,520
Speaker 2: Oh, yes, amazing, like so great.

718
00:29:45,840 --> 00:29:46,600
Speaker 1: I haven't been there yet.

719
00:29:46,600 --> 00:29:47,080
Speaker 2: Oh it's great.

720
00:29:47,080 --> 00:29:49,920
Speaker 3: And we met Eugene, who's the owner, who's this amazing entrepreneur.

721
00:29:50,000 --> 00:29:52,040
Speaker 3: But before I went, I asked chat GBT what I

722
00:29:52,080 --> 00:29:54,320
Speaker 3: should order it Orsh. Now I could read the reviews,

723
00:29:54,440 --> 00:29:55,800
Speaker 3: but all the reviews are going to have a little

724
00:29:55,800 --> 00:29:57,440
Speaker 3: bit of a bend to it. Yeah, I go to

725
00:29:57,480 --> 00:29:59,280
Speaker 3: chat GBT, I'm going to Orsh with my wife to

726
00:29:59,360 --> 00:29:59,719
Speaker 3: date night.

727
00:29:59,720 --> 00:30:01,040
Speaker 2: What did you What should we order? What do we

728
00:30:01,080 --> 00:30:01,320
Speaker 2: have us?

729
00:30:01,360 --> 00:30:03,720
Speaker 3: And we had the shrimp pasta which was amazing. We

730
00:30:03,760 --> 00:30:06,880
Speaker 3: had Brendzeno, which was amazing. It's so delicious. But I

731
00:30:07,000 --> 00:30:09,280
Speaker 3: use it on a daily basis for everything. And even

732
00:30:09,320 --> 00:30:12,120
Speaker 3: before coming here to do your show, I had all

733
00:30:12,120 --> 00:30:14,000
Speaker 3: my notes of all the things I've seen, Like I

734
00:30:14,040 --> 00:30:15,920
Speaker 3: have a Martha file in chat GBT. I have a

735
00:30:15,960 --> 00:30:18,080
Speaker 3: file everyone I do podcasts with. And over the last

736
00:30:18,120 --> 00:30:20,320
Speaker 3: couple of weeks, I've been feeding at different things and

737
00:30:20,360 --> 00:30:22,760
Speaker 3: then it explained to me, Hey, here are some reminders

738
00:30:22,760 --> 00:30:24,760
Speaker 3: of conversations that Martha and you have had.

739
00:30:24,640 --> 00:30:25,080
Speaker 2: In the past.

740
00:30:25,200 --> 00:30:28,960
Speaker 3: Great, So it's incredible and accessible to everybody.

741
00:30:29,200 --> 00:30:31,320
Speaker 1: Yeah, we were having a debate in our own office

742
00:30:31,400 --> 00:30:33,600
Speaker 1: of how much can you use AI and how much

743
00:30:33,640 --> 00:30:37,360
Speaker 1: can it help you. I totally believe that everyone should

744
00:30:37,400 --> 00:30:40,840
Speaker 1: be using AI. Me too, And you have to find

745
00:30:40,880 --> 00:30:46,160
Speaker 1: the AI that is best for you because everybody communicates differently. Yeah,

746
00:30:46,240 --> 00:30:48,760
Speaker 1: but you can trust it up to a point. Can't

747
00:30:48,760 --> 00:30:51,440
Speaker 1: always trust it one hundred percent, not yet anyway, But

748
00:30:51,520 --> 00:30:53,320
Speaker 1: I think it's I think it's an important tool.

749
00:30:53,360 --> 00:30:54,680
Speaker 2: Yeah, me too. I'm glad to hear you say that.

750
00:30:54,680 --> 00:30:55,840
Speaker 2: I'm also glad that you know.

751
00:30:55,920 --> 00:30:58,800
Speaker 3: We at Chopla we have this term called reflexive AI usage,

752
00:30:58,800 --> 00:31:00,760
Speaker 3: which means that we want people to think about it

753
00:31:00,800 --> 00:31:03,280
Speaker 3: as part of their daily workflow, not as I finished

754
00:31:03,280 --> 00:31:04,720
Speaker 3: my work now I'm just going to do one last

755
00:31:04,800 --> 00:31:07,120
Speaker 3: check with AI, but rather to incorporate as part of

756
00:31:07,120 --> 00:31:07,760
Speaker 3: your day to day.

757
00:31:07,880 --> 00:31:10,640
Speaker 1: I was looking for incandescent light bulbs and it told

758
00:31:10,680 --> 00:31:11,800
Speaker 1: me where to go exactly.

759
00:31:11,880 --> 00:31:12,360
Speaker 2: Amazing.

760
00:31:12,480 --> 00:31:14,400
Speaker 1: Yeah, because you're not allowed to buy, you're not supposed

761
00:31:14,400 --> 00:31:16,800
Speaker 1: to be buying incandescent light bels. Okay, but all my

762
00:31:17,080 --> 00:31:19,760
Speaker 1: houses in habit it has to be yeah, yeah, well,

763
00:31:19,800 --> 00:31:22,600
Speaker 1: actually I don't like those orange things and you like to.

764
00:31:22,680 --> 00:31:24,520
Speaker 2: Yeah, you have a particular taste for them.

765
00:31:24,560 --> 00:31:26,520
Speaker 3: I would also say that what's happening now, though, is

766
00:31:26,560 --> 00:31:28,520
Speaker 3: now you're you're gonna be able to check out right

767
00:31:28,520 --> 00:31:31,240
Speaker 3: from an in a browser inside of one of those

768
00:31:31,320 --> 00:31:32,600
Speaker 3: agentic applications, right.

769
00:31:32,480 --> 00:31:33,760
Speaker 2: So you don't even have to leave it anymore. And

770
00:31:33,760 --> 00:31:34,880
Speaker 2: Shopify is powering all that.

771
00:31:34,920 --> 00:31:38,000
Speaker 1: Okay, oh good, yeah, okay, well we're definitely going to

772
00:31:38,200 --> 00:31:41,000
Speaker 1: look into that. Oh boy, you have you're giving so

773
00:31:41,080 --> 00:31:44,959
Speaker 1: many ideas to us. Well, Shopify is a very you're aggressive,

774
00:31:45,280 --> 00:31:45,920
Speaker 1: very aggressive.

775
00:31:46,000 --> 00:31:48,360
Speaker 3: That's good, Yeah, ambitious aggressive. We want to you know,

776
00:31:48,480 --> 00:31:50,400
Speaker 3: we want more people to build companies and we want

777
00:31:50,440 --> 00:31:51,280
Speaker 3: them to build it with us.

778
00:31:51,560 --> 00:31:55,520
Speaker 1: And you've you really are a promoter of conversation driven commerce.

779
00:31:55,520 --> 00:31:57,800
Speaker 3: Oh yeah, I mean that's that's ultimately what the personal

780
00:31:57,800 --> 00:31:59,800
Speaker 3: shopper is is. You can say I have a wedding

781
00:31:59,840 --> 00:32:02,840
Speaker 3: coup it's in this place. You know my preferences. I

782
00:32:02,840 --> 00:32:05,480
Speaker 3: don't really like wearingything too heavy. Here's my price point,

783
00:32:05,520 --> 00:32:07,600
Speaker 3: here's what it needs to be delivered. What should I buy?

784
00:32:08,000 --> 00:32:10,280
Speaker 3: And you have a conversation back and forth, No, not that,

785
00:32:10,360 --> 00:32:12,680
Speaker 3: but this, Well that's too expensive, but I like this instead,

786
00:32:12,800 --> 00:32:15,080
Speaker 3: and then eventually it brings you the product that actually

787
00:32:15,240 --> 00:32:16,160
Speaker 3: you should purchase.

788
00:32:16,720 --> 00:32:18,120
Speaker 1: I'm looking at two pieces.

789
00:32:18,240 --> 00:32:20,800
Speaker 2: Where do you live Canada? Montreal's Oh that's right, live

790
00:32:20,800 --> 00:32:21,320
Speaker 2: in Montreal.

791
00:32:21,760 --> 00:32:22,560
Speaker 1: So nice up there.

792
00:32:22,600 --> 00:32:24,400
Speaker 2: I love it there. Oh you have so so happy there.

793
00:32:24,440 --> 00:32:25,400
Speaker 1: It's such a beautiful play.

794
00:32:25,520 --> 00:32:26,520
Speaker 2: We just moved there a couple of years ago.

795
00:32:26,560 --> 00:32:30,080
Speaker 1: Realized, as AI reshapes commerce, what's the biggest opportunity for

796
00:32:30,160 --> 00:32:33,000
Speaker 1: small business and what is the biggest risk.

797
00:32:33,720 --> 00:32:34,640
Speaker 2: Let me start with risk.

798
00:32:35,040 --> 00:32:38,440
Speaker 3: The risk is that I think underestimating the opportunity is

799
00:32:38,440 --> 00:32:40,640
Speaker 3: probably the biggest risk. You know, your team was mentioned

800
00:32:40,640 --> 00:32:42,600
Speaker 3: to me that they're thinking about their own AI strategy.

801
00:32:42,800 --> 00:32:45,600
Speaker 3: That's what you have to be doing, deep curiosity. Where

802
00:32:46,000 --> 00:32:48,120
Speaker 3: the risk is thinking this is going to be a fad.

803
00:32:48,560 --> 00:32:50,520
Speaker 3: This is not a fad. This is steady.

804
00:32:50,160 --> 00:32:52,200
Speaker 1: Stay and look.

805
00:32:52,280 --> 00:32:53,800
Speaker 3: You know, if you go back to the early days

806
00:32:53,920 --> 00:32:56,400
Speaker 3: we call social commerce, which is commerce that happen on

807
00:32:56,760 --> 00:32:59,320
Speaker 3: Instagram for example, or a TikTok or on a social

808
00:32:59,320 --> 00:33:02,520
Speaker 3: media platform. The understanding was that you would go there

809
00:33:02,560 --> 00:33:05,200
Speaker 3: to check out. Well, it turns out that Instagram is

810
00:33:05,240 --> 00:33:06,720
Speaker 3: not a place where you check out, it's actually the

811
00:33:06,720 --> 00:33:09,160
Speaker 3: place where you go to discover new brands. So that's

812
00:33:09,200 --> 00:33:11,880
Speaker 3: how that that the final literation of social commerce is

813
00:33:11,920 --> 00:33:15,640
Speaker 3: more about discovery AGENTIC or agent. The AI based commerce

814
00:33:15,720 --> 00:33:17,959
Speaker 3: is really more of a discovery and you can actually

815
00:33:18,080 --> 00:33:20,240
Speaker 3: check out directly on there as well, So you have

816
00:33:20,240 --> 00:33:22,240
Speaker 3: to have a curiosity of where it's going. So I

817
00:33:22,240 --> 00:33:25,000
Speaker 3: think the biggest risk for people is that they underestimate it.

818
00:33:25,120 --> 00:33:28,760
Speaker 3: The biggest opportunity is scale. That it used to be

819
00:33:28,920 --> 00:33:31,200
Speaker 3: that the brands, the online brands that we're able to

820
00:33:31,200 --> 00:33:33,920
Speaker 3: find the most about of customers have the largest ad budgets.

821
00:33:34,320 --> 00:33:36,240
Speaker 2: That's not the case in agenctive. Yeah, I know, it

822
00:33:36,280 --> 00:33:36,840
Speaker 2: doesn't matter.

823
00:33:36,960 --> 00:33:38,760
Speaker 1: That's right, it doesn't. And you don't have to do

824
00:33:38,800 --> 00:33:42,000
Speaker 1: those ads. You just have to lure them somehow.

825
00:33:41,600 --> 00:33:43,840
Speaker 3: Or you have to be able to provide enough context

826
00:33:43,880 --> 00:33:46,479
Speaker 3: to the to the agent that says, Okay, this is

827
00:33:46,520 --> 00:33:49,920
Speaker 3: not just lipstick, this is biolipstick, this is eco friendly,

828
00:33:49,960 --> 00:33:52,120
Speaker 3: this is lipstick that if it's hot, it still works.

829
00:33:52,280 --> 00:33:55,120
Speaker 3: You have to provide all these amazing attributes of your

830
00:33:55,160 --> 00:33:58,000
Speaker 3: products and feed that into the agent, which we make

831
00:33:58,040 --> 00:34:00,520
Speaker 3: really easy on Shopify, so that the agent knows to

832
00:34:00,600 --> 00:34:03,040
Speaker 3: when to recommend your product. I think there's gonna be

833
00:34:03,040 --> 00:34:06,720
Speaker 3: more billion dollar companies created in the next five years

834
00:34:06,840 --> 00:34:09,200
Speaker 3: than in the last twenty five years. And I think

835
00:34:09,200 --> 00:34:13,240
Speaker 3: it's because the technology is going to drive more people

836
00:34:13,320 --> 00:34:15,400
Speaker 3: to start and more people to scale. And on the

837
00:34:15,440 --> 00:34:17,560
Speaker 3: start side, I mean, you know, think about how many

838
00:34:17,560 --> 00:34:20,319
Speaker 3: people you know, Martha, who are amazing hobbyists who make

839
00:34:20,360 --> 00:34:22,400
Speaker 3: beautiful things. But every time you say to them you

840
00:34:22,400 --> 00:34:24,319
Speaker 3: should maybe sell that, they say, no, no, I can't

841
00:34:24,360 --> 00:34:25,239
Speaker 3: do that, not for me.

842
00:34:25,800 --> 00:34:28,680
Speaker 2: There's like this apprehension. I think that's going to change.

843
00:34:28,680 --> 00:34:30,839
Speaker 3: I think more people will find something that they're really

844
00:34:30,840 --> 00:34:33,080
Speaker 3: good at and then allow the world to purchase it

845
00:34:33,120 --> 00:34:33,680
Speaker 3: from them.

846
00:34:33,920 --> 00:34:34,319
Speaker 1: I hope.

847
00:34:34,360 --> 00:34:37,040
Speaker 2: So, I mean you've done that more than anyone of course. Yeah,

848
00:34:37,200 --> 00:34:37,960
Speaker 2: of course.

849
00:34:46,080 --> 00:34:49,520
Speaker 1: You're such an influencer too for retailers, for people who

850
00:34:49,560 --> 00:34:53,799
Speaker 1: want to sell Shopify And how do people come to you?

851
00:34:55,239 --> 00:34:56,279
Speaker 2: How entrepreneurs find us?

852
00:34:56,680 --> 00:34:59,640
Speaker 3: Well, usually usually what happens is this someone has an

853
00:34:59,640 --> 00:35:02,120
Speaker 3: idea shower in the morning, and then they go downstairs

854
00:35:02,120 --> 00:35:04,160
Speaker 3: to their mom's kitchen table or to their desk or

855
00:35:04,160 --> 00:35:06,040
Speaker 3: to a coffee shop, and they open up their laptop

856
00:35:06,320 --> 00:35:09,279
Speaker 3: and they just start building an online store. Usually within

857
00:35:09,320 --> 00:35:12,280
Speaker 3: the first couple orders tend to be from friends and family.

858
00:35:12,560 --> 00:35:15,040
Speaker 3: Your mom buys one, your rampu is one. But actually

859
00:35:15,120 --> 00:35:18,520
Speaker 3: where someone's life changes when the first stranger purchases to me,

860
00:35:18,560 --> 00:35:19,800
Speaker 3: that's when their identity changes.

861
00:35:19,920 --> 00:35:20,800
Speaker 1: That gives them a kick.

862
00:35:20,880 --> 00:35:21,719
Speaker 2: That's right, And.

863
00:35:21,719 --> 00:35:24,279
Speaker 3: Every twenty six seconds, a new entrepreneur gets their first

864
00:35:24,280 --> 00:35:26,560
Speaker 3: sale on Shopify. So we've been sitting here for I

865
00:35:26,600 --> 00:35:28,520
Speaker 3: don't know how long, you know, dozens and dozens of

866
00:35:28,600 --> 00:35:31,239
Speaker 3: entrepreneurs have started to have had their first sale while

867
00:35:31,239 --> 00:35:33,560
Speaker 3: we're sitting here, and one of those businesses is probably

868
00:35:33,600 --> 00:35:35,759
Speaker 3: going to be a multi million dollar maybe even a

869
00:35:35,760 --> 00:35:38,319
Speaker 3: billion dollar company one day. But usually the way they

870
00:35:38,320 --> 00:35:40,279
Speaker 3: come to shop play is they have an idea or

871
00:35:40,400 --> 00:35:42,160
Speaker 3: they have something in mind they want to share with

872
00:35:42,200 --> 00:35:43,799
Speaker 3: the world, and we can get them set up in

873
00:35:43,800 --> 00:35:44,239
Speaker 3: like an hour.

874
00:35:44,400 --> 00:35:46,400
Speaker 1: So tell me the history of shopify in the last

875
00:35:46,440 --> 00:35:48,760
Speaker 1: ten years. Yeah, what happened ten years.

876
00:35:48,520 --> 00:35:50,960
Speaker 2: Ago when in public a New York Stock exchange.

877
00:35:50,960 --> 00:35:53,960
Speaker 3: That's right, Yeah, I mean you know this, but like

878
00:35:54,160 --> 00:35:57,160
Speaker 3: as an entrepreneur, to take your public you know, to

879
00:35:57,160 --> 00:35:59,080
Speaker 3: have an IPO to stand at the podium at the

880
00:35:59,080 --> 00:36:00,000
Speaker 3: New York Stock Exchange.

881
00:36:00,360 --> 00:36:03,040
Speaker 2: There's nothing like it, nothing like it, never looking down.

882
00:36:03,200 --> 00:36:05,440
Speaker 3: And seeing my wife and seeing my friends and our

883
00:36:05,880 --> 00:36:08,040
Speaker 3: mentors and our boards standing there, and like.

884
00:36:08,160 --> 00:36:10,120
Speaker 1: What did you do at right after when you left

885
00:36:10,160 --> 00:36:10,759
Speaker 1: the stock change?

886
00:36:11,600 --> 00:36:12,120
Speaker 2: True story.

887
00:36:12,239 --> 00:36:14,920
Speaker 3: So we flew back to Canada, uh, and I was

888
00:36:14,960 --> 00:36:17,279
Speaker 3: flying high, just finished the road show. I think the

889
00:36:17,320 --> 00:36:20,239
Speaker 3: IPO was about a billion dollar market cap. Shop is

890
00:36:20,280 --> 00:36:22,799
Speaker 3: a lot bigger today, but it was about aillioniar market cap.

891
00:36:22,800 --> 00:36:24,120
Speaker 3: And I remember going home and feeling like I was

892
00:36:24,160 --> 00:36:26,080
Speaker 3: top of the world. And I walked into the house

893
00:36:26,200 --> 00:36:28,480
Speaker 3: and Lindsay told me to go take out the garbage.

894
00:36:28,600 --> 00:36:29,759
Speaker 3: And I said, what do you mean, I just took

895
00:36:29,800 --> 00:36:31,600
Speaker 3: the company public. I can't And she's like, well, someone

896
00:36:31,600 --> 00:36:33,200
Speaker 3: still needs to go take out the garbage.

897
00:36:33,320 --> 00:36:34,920
Speaker 1: And good girl, Lindsay.

898
00:36:35,200 --> 00:36:39,759
Speaker 3: It was a perfect, perfect reminder of as much as

899
00:36:39,840 --> 00:36:41,440
Speaker 3: you know I was flying high after the New York

900
00:36:41,480 --> 00:36:44,080
Speaker 3: Sock Exchange, that I still have to be a good

901
00:36:44,120 --> 00:36:46,440
Speaker 3: husband and still have to live a life. And and

902
00:36:46,800 --> 00:36:48,719
Speaker 3: but it was as an entrepreneur that's been you know,

903
00:36:48,760 --> 00:36:50,799
Speaker 3: doing this since I was, as you say, seventeen years old.

904
00:36:51,000 --> 00:36:53,839
Speaker 3: That was a very special moment, and I want more

905
00:36:53,840 --> 00:36:54,680
Speaker 3: companies to go public.

906
00:36:54,760 --> 00:36:56,839
Speaker 1: Take out the garbage and take up Yeah.

907
00:36:56,840 --> 00:36:59,360
Speaker 2: Actually she had to take out the f and garbage. Yeah.

908
00:36:59,480 --> 00:37:01,879
Speaker 2: It was a for me to don't get too big

909
00:37:01,960 --> 00:37:02,160
Speaker 2: from that.

910
00:37:02,239 --> 00:37:05,120
Speaker 1: Bridges and what I did the day I went public. Yeah,

911
00:37:05,840 --> 00:37:08,200
Speaker 1: I think I was worth, you know, two point six

912
00:37:08,239 --> 00:37:11,399
Speaker 1: billion dollars or something. And I drove up Madison, ave

913
00:37:11,480 --> 00:37:14,120
Speaker 1: you and I said to myself out loud. I think

914
00:37:14,120 --> 00:37:17,360
Speaker 1: I said it out loud. I could actually buy anything. Wow,

915
00:37:17,680 --> 00:37:18,280
Speaker 1: right today?

916
00:37:18,400 --> 00:37:18,800
Speaker 2: Wow?

917
00:37:18,920 --> 00:37:20,800
Speaker 1: And I didn't buy anything.

918
00:37:21,040 --> 00:37:23,760
Speaker 2: Yeah, it's amazing, but just knowing it.

919
00:37:23,600 --> 00:37:26,640
Speaker 1: Is well, knowing it, but then being so stupid not

920
00:37:26,719 --> 00:37:27,240
Speaker 1: to act.

921
00:37:27,360 --> 00:37:30,480
Speaker 2: Yeah, I was. Were you scared? No, okay, no, not

922
00:37:30,560 --> 00:37:30,919
Speaker 2: at all.

923
00:37:31,280 --> 00:37:34,760
Speaker 1: It was It was fabulous. But it's such an amazing

924
00:37:34,760 --> 00:37:36,759
Speaker 1: So what's happening is oprofice since then? I mean you've

925
00:37:36,760 --> 00:37:40,640
Speaker 1: had it's been You're the history of a modern new company.

926
00:37:40,719 --> 00:37:42,920
Speaker 3: That's right, so many years old a public Yeah, we

927
00:37:42,960 --> 00:37:45,120
Speaker 3: went public ten years ago. It's almost eleven years now.

928
00:37:45,200 --> 00:37:46,839
Speaker 3: We went public at about a billion dollars. I think

929
00:37:46,880 --> 00:37:48,560
Speaker 3: the stock today is we are about one hundred and fifty

930
00:37:48,600 --> 00:37:50,680
Speaker 3: billion dollar company today, one of the largest companies in

931
00:37:50,680 --> 00:37:53,080
Speaker 3: the world. Certainly, we're the second largest company in Canada.

932
00:37:53,280 --> 00:37:55,520
Speaker 3: The only company larger than shop Playing Canada is the

933
00:37:55,560 --> 00:37:58,120
Speaker 3: Royal Bank Wow, which is about three hundred years ago wonderful,

934
00:37:58,160 --> 00:37:58,879
Speaker 3: which is pretty cool.

935
00:38:00,080 --> 00:38:00,879
Speaker 1: In exchange too.

936
00:38:01,160 --> 00:38:03,960
Speaker 3: They were due listed now and we're actually now in

937
00:38:04,040 --> 00:38:07,839
Speaker 3: NASDAC and in TSX, the Toronto Stock Exchange. We about

938
00:38:07,840 --> 00:38:10,759
Speaker 3: eight thousand people, were about fourteen percent of US e

939
00:38:10,880 --> 00:38:14,080
Speaker 3: comm millions of stores on Shopify. But actually I think

940
00:38:14,080 --> 00:38:16,680
Speaker 3: the biggest change has been that we started making online

941
00:38:16,680 --> 00:38:20,319
Speaker 3: stores for small businesses and now we help anyone sell

942
00:38:20,400 --> 00:38:23,440
Speaker 3: anything to anyone in any channel and of any size.

943
00:38:23,800 --> 00:38:25,520
Speaker 3: And it was in New York a couple weeks ago

944
00:38:25,680 --> 00:38:28,040
Speaker 3: with Stefan, who's the CEO of s Day latter and

945
00:38:28,200 --> 00:38:30,200
Speaker 3: st Lotter just came on. I remember having a conversation

946
00:38:30,239 --> 00:38:31,520
Speaker 3: with Stefan saying, you know.

947
00:38:31,600 --> 00:38:34,640
Speaker 1: They were reluctant. Well they for a long time we

948
00:38:34,719 --> 00:38:37,120
Speaker 1: were doing that, I know, but they were not even

949
00:38:37,239 --> 00:38:40,000
Speaker 1: they were they were reluctant to go to go in.

950
00:38:40,239 --> 00:38:42,560
Speaker 3: Well online saty, that's right exactly, because they wanted people

951
00:38:42,560 --> 00:38:44,600
Speaker 3: to come in. And I think actually that that's changed

952
00:38:44,600 --> 00:38:46,319
Speaker 3: their stock a lot. Yeah, I don't know, but their

953
00:38:46,320 --> 00:38:48,960
Speaker 3: stock praise, but I can tell you that it was stock.

954
00:38:48,800 --> 00:38:50,040
Speaker 1: Went way down, did it?

955
00:38:50,120 --> 00:38:50,400
Speaker 2: Yeah?

956
00:38:50,440 --> 00:38:52,959
Speaker 1: And then it just and you know, in the last

957
00:38:53,040 --> 00:38:54,200
Speaker 1: year it tripled.

958
00:38:54,280 --> 00:38:54,400
Speaker 2: Well.

959
00:38:54,400 --> 00:38:59,080
Speaker 3: Steffan's an incredible CEO. Part partially it's that he is optimistic.

960
00:38:59,080 --> 00:39:01,840
Speaker 3: He's a techno optimist. He embraces all these new channels.

961
00:39:01,960 --> 00:39:03,759
Speaker 3: He wants to know what he need, calls me all

962
00:39:03,800 --> 00:39:05,600
Speaker 3: the time to say, okay, just like you do, actually

963
00:39:05,600 --> 00:39:07,200
Speaker 3: exactly what you do. He's like, what's new? What can

964
00:39:07,239 --> 00:39:09,239
Speaker 3: I do? I saw your announcement with open Ai. What

965
00:39:09,280 --> 00:39:12,399
Speaker 3: can I do with that? You have these incredible entrepreneurial

966
00:39:12,480 --> 00:39:14,880
Speaker 3: leaders that are running companies at scale, and they're taking

967
00:39:14,960 --> 00:39:17,080
Speaker 3: older companies and they're reinventing them as well.

968
00:39:17,239 --> 00:39:18,319
Speaker 2: But today, you know, we.

969
00:39:18,280 --> 00:39:20,560
Speaker 3: Have stores on Shopley that only use us to sell

970
00:39:20,680 --> 00:39:23,120
Speaker 3: on Agentic, or only use us to sell in store,

971
00:39:23,239 --> 00:39:24,200
Speaker 3: online or everywhere.

972
00:39:24,239 --> 00:39:28,000
Speaker 1: But all businesses are being disrupted. I have a good friend, Anchor, Jane.

973
00:39:28,000 --> 00:39:30,280
Speaker 1: Do you know Anchor? He built?

974
00:39:30,440 --> 00:39:32,000
Speaker 2: Okay, well built, I love built.

975
00:39:32,200 --> 00:39:36,120
Speaker 1: Yeah, it's a fantastic But he's disrupting the credit card

976
00:39:36,120 --> 00:39:39,680
Speaker 1: course history in a big way. So he again is

977
00:39:40,000 --> 00:39:43,759
Speaker 1: a techno optimist in the biggest way. Yeah, and I

978
00:39:44,239 --> 00:39:46,040
Speaker 1: watch him and talk to him about it because it

979
00:39:46,160 --> 00:39:50,160
Speaker 1: is so incredible what he's doing. There's Muragan Express watch Out.

980
00:39:50,280 --> 00:39:52,759
Speaker 3: Yeah, it's it's an incredible thing to watch these and

981
00:39:52,800 --> 00:39:54,719
Speaker 3: it's again it's I'm glad you brought up the point.

982
00:39:54,719 --> 00:39:57,000
Speaker 3: It's not just the modern companies that are innovating. Some

983
00:39:57,040 --> 00:40:00,200
Speaker 3: of the more traditional companies are bringing really innovative leadership

984
00:40:00,360 --> 00:40:02,560
Speaker 3: and they're saying, great, we have a great history, but

985
00:40:02,680 --> 00:40:05,960
Speaker 3: let's not you know. I I interviewed Jeffre Katzenberg last

986
00:40:05,960 --> 00:40:07,760
Speaker 3: week and he said, don't let your memories be bigger

987
00:40:07,800 --> 00:40:08,400
Speaker 3: than your dreams.

988
00:40:08,640 --> 00:40:09,960
Speaker 2: And I thought that was so beautiful.

989
00:40:10,440 --> 00:40:14,319
Speaker 3: That's very, very good because so many people are so nostalgic, but.

990
00:40:14,280 --> 00:40:17,960
Speaker 2: That should be. It's amazing, right, yeah, put it on.

991
00:40:18,560 --> 00:40:21,759
Speaker 3: Yeah, it's pretty cool because with Jeffrey, I want to

992
00:40:21,760 --> 00:40:23,600
Speaker 3: talk about DreamWorks, I want to talk abou Disney, but

993
00:40:23,760 --> 00:40:26,320
Speaker 3: all he wants to talk about is wonder Coat the future.

994
00:40:26,640 --> 00:40:28,960
Speaker 3: And I find the best entrepreneurs I know they have

995
00:40:29,080 --> 00:40:31,960
Speaker 3: deep respect admiration for the past, but they're always thinking

996
00:40:31,960 --> 00:40:35,480
Speaker 3: about what is next. Actually, another example is Steven Ross,

997
00:40:35,520 --> 00:40:37,840
Speaker 3: who runs a related group. I recently sat down with

998
00:40:37,880 --> 00:40:40,040
Speaker 3: Steven and I want to talk about Hudson Yards. I

999
00:40:40,040 --> 00:40:42,320
Speaker 3: want to talk about this building there in this building,

1000
00:40:42,440 --> 00:40:44,000
Speaker 3: all he wants to talk about is his new Projean

1001
00:40:44,080 --> 00:40:46,680
Speaker 3: West Palm Beach. Stephen Ross, one of the wealthiest people

1002
00:40:46,680 --> 00:40:48,680
Speaker 3: in the world, doesn't want to talk about what.

1003
00:40:48,680 --> 00:40:49,319
Speaker 2: He's done here.

1004
00:40:49,440 --> 00:40:53,640
Speaker 1: He's transforming the skyline on beach and he's eighty five

1005
00:40:53,680 --> 00:40:57,120
Speaker 1: years old. I know he isn't doing an amazing job phenomenal.

1006
00:40:57,280 --> 00:40:59,719
Speaker 3: So it's it's I'm inspired by entrepreneurs like him and

1007
00:40:59,760 --> 00:41:01,600
Speaker 3: like you, who are always thinking about what is next?

1008
00:41:01,680 --> 00:41:03,680
Speaker 3: How do I get smarter? How do I surround myself

1009
00:41:03,680 --> 00:41:06,200
Speaker 3: with energy jetic people? Who I mean that is like

1010
00:41:06,760 --> 00:41:10,440
Speaker 3: jois de vive is a term when you mentioned Montreal earlier.

1011
00:41:10,480 --> 00:41:12,080
Speaker 3: Why did Lindsay and I moved to Montreal a couple

1012
00:41:12,120 --> 00:41:14,080
Speaker 3: of years ago because we had never found a place

1013
00:41:14,120 --> 00:41:16,360
Speaker 3: that had as much duad de viv or joy of

1014
00:41:16,400 --> 00:41:18,719
Speaker 3: life as Montreal and we wanted that.

1015
00:41:18,760 --> 00:41:20,000
Speaker 2: We wanted more of that in our life.

1016
00:41:20,040 --> 00:41:21,640
Speaker 1: Oh nice, you have kids, two daughters.

1017
00:41:22,160 --> 00:41:25,239
Speaker 3: How old Zoe is seven, Bailey's nine? And are they

1018
00:41:25,440 --> 00:41:26,280
Speaker 3: they're entrepreneurial?

1019
00:41:26,400 --> 00:41:26,759
Speaker 1: Oh good?

1020
00:41:26,760 --> 00:41:29,319
Speaker 3: Oh yeah, I mean Lindsay's a entrepreneur and so am I.

1021
00:41:29,360 --> 00:41:31,400
Speaker 3: So there's there's there's a lot of entrepreneurial talk at

1022
00:41:31,400 --> 00:41:33,279
Speaker 3: our house all the time, and they're always trying to

1023
00:41:33,280 --> 00:41:34,839
Speaker 3: like make a buck and trying to figure out if

1024
00:41:34,840 --> 00:41:35,759
Speaker 3: I want this thing, what do I.

1025
00:41:35,719 --> 00:41:38,560
Speaker 2: Have to do for it? And it's it's it's amazing.

1026
00:41:39,280 --> 00:41:42,520
Speaker 1: So what are you seeing right now in consumer behavior?

1027
00:41:42,760 --> 00:41:44,680
Speaker 1: Because we're going through we're going through a pretty hard

1028
00:41:44,719 --> 00:41:48,800
Speaker 1: time worldwide. We have tarriffs to deal with, we have war,

1029
00:41:49,080 --> 00:41:52,759
Speaker 1: big war. Possibly what might surprise the people listening to

1030
00:41:52,800 --> 00:41:54,080
Speaker 1: this podcast.

1031
00:41:53,800 --> 00:41:56,160
Speaker 3: Actually in many ways, you know, I think people have

1032
00:41:56,200 --> 00:41:58,440
Speaker 3: heard of the K shaped economy, which I'll just explained

1033
00:41:58,480 --> 00:41:59,759
Speaker 3: ver a second, which is like if you think about

1034
00:41:59,760 --> 00:42:01,759
Speaker 3: the letter, there's sort of two economies. There are sort

1035
00:42:01,800 --> 00:42:03,960
Speaker 3: of the slope down and the slope up. I think

1036
00:42:04,200 --> 00:42:06,480
Speaker 3: what I'm seeing is that if you are a brand,

1037
00:42:06,920 --> 00:42:09,799
Speaker 3: whether you're a small little retailer a retail store, or

1038
00:42:09,840 --> 00:42:13,160
Speaker 3: you're a huge company. I actually think now what we're

1039
00:42:13,160 --> 00:42:15,359
Speaker 3: seeing is consumers are voting with their wallets to buy

1040
00:42:15,360 --> 00:42:19,000
Speaker 3: from brands they love they love. Look, I'm not talking

1041
00:42:19,000 --> 00:42:22,200
Speaker 3: about household goods like paper, towel or detergent. People are

1042
00:42:22,200 --> 00:42:24,880
Speaker 3: more brand agnostic they're looking for a good deal. But

1043
00:42:25,000 --> 00:42:26,759
Speaker 3: you know, I wear a black T shirt every day,

1044
00:42:26,880 --> 00:42:28,920
Speaker 3: have my entire including at the IPO, I wear a

1045
00:42:28,960 --> 00:42:31,960
Speaker 3: James Purse black T shirt. Why don't wear James Purst.

1046
00:42:31,760 --> 00:42:32,279
Speaker 2: Black T shirt?

1047
00:42:32,320 --> 00:42:32,879
Speaker 1: My daughter does.

1048
00:42:33,840 --> 00:42:36,040
Speaker 3: Yeah, so I've gotten a chance to know James. He's

1049
00:42:36,080 --> 00:42:37,560
Speaker 3: become a friend. I think there's no one in the

1050
00:42:37,560 --> 00:42:40,480
Speaker 3: world that cares more about black T shirts than James Purse.

1051
00:42:40,760 --> 00:42:42,480
Speaker 3: So every time I buy one of these T shirts,

1052
00:42:42,520 --> 00:42:45,160
Speaker 3: I'm voting with my wallet for James to continue on

1053
00:42:45,200 --> 00:42:47,800
Speaker 3: his journey. And I you know, I'm in a fortunate

1054
00:42:47,800 --> 00:42:49,440
Speaker 3: place now where I can afford to wear an expensive

1055
00:42:49,440 --> 00:42:51,320
Speaker 3: T shirt. But I think even sort of if you

1056
00:42:51,680 --> 00:42:55,240
Speaker 3: lower down the stack in terms of pricing, even consumers

1057
00:42:55,280 --> 00:42:57,879
Speaker 3: like they're still looking for deep connection what they're buying from.

1058
00:42:58,000 --> 00:43:02,000
Speaker 3: No one's looking for commoditized product. They want a deep connection.

1059
00:43:02,200 --> 00:43:04,919
Speaker 3: And this is where I think storytelling plays a massive role.

1060
00:43:05,280 --> 00:43:08,319
Speaker 3: As an entrepreneur. You hear storytelling as a concept and

1061
00:43:08,360 --> 00:43:10,719
Speaker 3: some people roll their eyes. Do not roll your eyes

1062
00:43:10,719 --> 00:43:13,760
Speaker 3: at this. What consumers are buying, ultimately is the story

1063
00:43:13,800 --> 00:43:16,239
Speaker 3: behind the product. When they get the product, if they

1064
00:43:16,320 --> 00:43:19,440
Speaker 3: like it, they'll buy it again. But for that initial transaction.

1065
00:43:19,719 --> 00:43:21,800
Speaker 3: What they want to know is who is this person?

1066
00:43:22,040 --> 00:43:24,400
Speaker 3: Why did they build this thing? And in many ways,

1067
00:43:24,640 --> 00:43:28,160
Speaker 3: this idea of like a faceless founder is over. I

1068
00:43:28,200 --> 00:43:30,960
Speaker 3: mean again, this is the Martha model. You are the

1069
00:43:31,000 --> 00:43:33,600
Speaker 3: person behind every product you sell. And in many ways,

1070
00:43:33,640 --> 00:43:36,560
Speaker 3: when someone's buying a Martha product, they're buying something that

1071
00:43:36,560 --> 00:43:39,920
Speaker 3: reflects you and your brand and your story. And I

1072
00:43:39,960 --> 00:43:41,840
Speaker 3: think that is timeless. That's never going away.

1073
00:43:41,960 --> 00:43:45,000
Speaker 1: So we are in a boom for entrepreneurial behavior. But

1074
00:43:45,239 --> 00:43:48,680
Speaker 1: is this still a much tougher environment than people realize?

1075
00:43:48,840 --> 00:43:51,319
Speaker 3: I think there's more competition because it's easier now than ever.

1076
00:43:51,360 --> 00:43:54,080
Speaker 3: The barrier to entry to being an entrepreneur is so low,

1077
00:43:54,239 --> 00:43:56,080
Speaker 3: But I don't think that's a reason to discourage like that.

1078
00:43:56,120 --> 00:44:00,840
Speaker 1: Don't you techno optimist? But are you also an optimist overall?

1079
00:44:00,960 --> 00:44:03,720
Speaker 3: I would say, oh, yes, certainly. Yeah, I'm a glass

1080
00:44:03,719 --> 00:44:05,480
Speaker 3: half full person all the time. I mean, I think

1081
00:44:05,520 --> 00:44:07,360
Speaker 3: you have to be an entrepreneur. I think as an

1082
00:44:07,440 --> 00:44:08,319
Speaker 3: entrepreneur you have to be.

1083
00:44:08,320 --> 00:44:09,880
Speaker 1: A little bit of a I'm a total out.

1084
00:44:09,960 --> 00:44:10,880
Speaker 2: You have to be a little bit.

1085
00:44:10,920 --> 00:44:12,200
Speaker 1: But I'm still worried.

1086
00:44:12,400 --> 00:44:15,000
Speaker 3: Yeah, okay, that's I mean, I have you know, I'm

1087
00:44:15,040 --> 00:44:17,080
Speaker 3: the grandson of a Holocaust survivor, so I often think

1088
00:44:17,080 --> 00:44:19,880
Speaker 3: that I have like multi generational trauma in me, like

1089
00:44:20,200 --> 00:44:22,799
Speaker 3: I'm one of the ones that survived. Therefore, you know,

1090
00:44:22,840 --> 00:44:24,680
Speaker 3: back to the anxiety thing, it's because we had a

1091
00:44:24,719 --> 00:44:28,440
Speaker 3: lot of anxiety. But actually I think entrepreneurship when I

1092
00:44:28,480 --> 00:44:30,480
Speaker 3: was younger. Let me go back to my family for

1093
00:44:30,480 --> 00:44:33,560
Speaker 3: a second. My family came to North America, to Canada

1094
00:44:33,560 --> 00:44:37,000
Speaker 3: in nineteen fifty six during the Hungarian Revolution. My grandfather

1095
00:44:37,160 --> 00:44:39,839
Speaker 3: started an egg stall at a local farmer's market called

1096
00:44:39,880 --> 00:44:40,440
Speaker 3: La capy Ten.

1097
00:44:40,640 --> 00:44:42,440
Speaker 2: It was a little egg eggs stall. It still stands.

1098
00:44:42,600 --> 00:44:43,760
Speaker 1: He raised his own chickens.

1099
00:44:43,800 --> 00:44:45,680
Speaker 3: He did not he bought from farmers, local farmers, but

1100
00:44:45,719 --> 00:44:47,440
Speaker 3: he sold it and he ran this egg stall as

1101
00:44:47,440 --> 00:44:48,160
Speaker 3: his whole life.

1102
00:44:48,400 --> 00:44:49,920
Speaker 2: And towards the end of his life I asked him

1103
00:44:49,920 --> 00:44:53,000
Speaker 2: about his business. What I realized was he didn't care

1104
00:44:53,000 --> 00:44:54,880
Speaker 2: about eggs. His goal.

1105
00:44:54,960 --> 00:44:57,480
Speaker 3: His objective was survival. He was trying to put food

1106
00:44:57,520 --> 00:45:00,840
Speaker 3: on the table. He was an entrepreneur because as a necessity.

1107
00:45:01,600 --> 00:45:03,680
Speaker 3: One of the things I love about today is there's

1108
00:45:03,680 --> 00:45:05,319
Speaker 3: still a lot of reasons become entrepreneurs, but there are

1109
00:45:05,360 --> 00:45:09,000
Speaker 3: more people today they're becoming entrepreneurs based on passion, meaning

1110
00:45:09,040 --> 00:45:11,040
Speaker 3: they go to a job they don't love, but on

1111
00:45:11,160 --> 00:45:13,160
Speaker 3: nights and weekends they're tinkering on something.

1112
00:45:12,960 --> 00:45:15,360
Speaker 1: They're working on something else. I wrote that in my

1113
00:45:15,400 --> 00:45:19,759
Speaker 1: book Passion is number one important quality to be an entrepreneur.

1114
00:45:20,160 --> 00:45:22,160
Speaker 1: So when you match passion a good idea first, and

1115
00:45:22,200 --> 00:45:24,120
Speaker 1: then the passion has to be there, but it's not.

1116
00:45:24,360 --> 00:45:26,200
Speaker 3: But then you have scale, then you can take it

1117
00:45:26,360 --> 00:45:29,520
Speaker 3: and grow. I mean, you know, when you were doing it,

1118
00:45:29,600 --> 00:45:31,120
Speaker 3: the amount of work you had to do to become

1119
00:45:31,120 --> 00:45:32,680
Speaker 3: who you are today was excrucion.

1120
00:45:32,840 --> 00:45:35,359
Speaker 1: I'm still doing it. I'm building.

1121
00:45:36,960 --> 00:45:38,600
Speaker 2: Your office here. It's it's remarkable.

1122
00:45:38,600 --> 00:45:40,880
Speaker 1: I'm building that, and now I'm building something else. I'm

1123
00:45:40,920 --> 00:45:44,040
Speaker 1: building a software plot so amazing, it's so much fun.

1124
00:45:44,160 --> 00:45:47,040
Speaker 2: So the idea. But when you started, though, you were unique.

1125
00:45:47,680 --> 00:45:48,719
Speaker 2: No one else was doing this.

1126
00:45:49,040 --> 00:45:53,040
Speaker 1: And now because I was in a unique situation of

1127
00:45:53,640 --> 00:45:57,640
Speaker 1: taking a tried and true subject matter living and making

1128
00:45:57,680 --> 00:46:01,239
Speaker 1: it something something exciting that people were going to pay

1129
00:46:01,280 --> 00:46:03,600
Speaker 1: attention to, living was just taken for granted.

1130
00:46:03,719 --> 00:46:07,520
Speaker 3: Well, you turned elevated hosting into intellectual property, and that

1131
00:46:07,600 --> 00:46:11,000
Speaker 3: idea of taking hosting and turning to IP is so

1132
00:46:11,280 --> 00:46:13,520
Speaker 3: unique and now again a lot of people are doing

1133
00:46:13,520 --> 00:46:15,279
Speaker 3: it and not everyone's doing it well. But today it's

1134
00:46:15,360 --> 00:46:18,640
Speaker 3: more accessible, and that accessibility means is consumers. There's more

1135
00:46:18,680 --> 00:46:20,879
Speaker 3: interesting products in the market today. I think it makes

1136
00:46:20,880 --> 00:46:21,520
Speaker 3: for a richer world.

1137
00:46:21,560 --> 00:46:24,279
Speaker 1: When you meet a founder and you meet lots of them,

1138
00:46:24,640 --> 00:46:26,680
Speaker 1: let's signals tell you if they're going to make it

1139
00:46:26,760 --> 00:46:26,960
Speaker 1: or not.

1140
00:46:27,320 --> 00:46:29,520
Speaker 3: I look for grit as much as possible. Grits, I

1141
00:46:29,520 --> 00:46:32,960
Speaker 3: think is you can't teach grit. You can inherit it

1142
00:46:33,200 --> 00:46:36,040
Speaker 3: over time through your experiences. But I look for grit

1143
00:46:36,200 --> 00:46:37,480
Speaker 3: And one of the ways I look for grit is

1144
00:46:37,480 --> 00:46:39,719
Speaker 3: I ask them why why did they start? What is

1145
00:46:39,719 --> 00:46:42,399
Speaker 3: their story? Are they doing this because they think it's cool?

1146
00:46:42,440 --> 00:46:44,640
Speaker 3: Are they doing it because like they have? Like I

1147
00:46:44,640 --> 00:46:47,320
Speaker 3: love people with chips on their shoulders, something to prove,

1148
00:46:47,960 --> 00:46:50,120
Speaker 3: and I think people that are something to prove they

1149
00:46:50,160 --> 00:46:52,759
Speaker 3: may not necessarily be the most fun dinner guests all

1150
00:46:52,800 --> 00:46:55,040
Speaker 3: the time, but they make incredible entrepreneurs.

1151
00:46:55,400 --> 00:46:58,319
Speaker 1: Well, on that note, Harley boy, you have filled us

1152
00:46:58,480 --> 00:47:01,759
Speaker 1: with so many good ideas and your enthusiasm for your

1153
00:47:01,800 --> 00:47:06,279
Speaker 1: business for other people's business is really exciting. It really

1154
00:47:06,320 --> 00:47:06,719
Speaker 1: really is.

1155
00:47:06,800 --> 00:47:09,640
Speaker 3: And break the alter of entrepreneurship, and it's it's an

1156
00:47:09,640 --> 00:47:10,520
Speaker 3: honor for me to sit here with you.

1157
00:47:10,560 --> 00:47:11,759
Speaker 2: Martha. You're truly at the top of that.

1158
00:47:11,840 --> 00:47:13,800
Speaker 1: It's so great to see you again. And I appreciate

1159
00:47:13,840 --> 00:47:18,680
Speaker 1: your perspective tremendously in this very fascinating time in the

1160
00:47:18,719 --> 00:47:21,120
Speaker 1: retail game because it is a game.

1161
00:47:21,160 --> 00:47:21,600
Speaker 2: It's a game.

1162
00:47:22,120 --> 00:47:25,560
Speaker 1: It's a game, yep, and it is the future. Yeah,

1163
00:47:25,680 --> 00:47:29,160
Speaker 1: you're you're You're really right there, and I love it.

1164
00:47:29,320 --> 00:47:31,960
Speaker 1: I love it, And good luck. Tell our listeners where

1165
00:47:32,000 --> 00:47:33,000
Speaker 1: they can follow.

1166
00:47:32,719 --> 00:47:34,360
Speaker 2: You on Instagram.

1167
00:47:34,400 --> 00:47:36,440
Speaker 3: I guess at Harley uh just I have one of

1168
00:47:36,440 --> 00:47:38,600
Speaker 3: those first name Instagram handles, which is fun. And then

1169
00:47:38,600 --> 00:47:40,879
Speaker 3: shopify dot com check us out for anyone who's thinking

1170
00:47:40,880 --> 00:47:41,800
Speaker 3: about starting a business.

1171
00:47:41,920 --> 00:47:43,600
Speaker 2: Let me know how it could be helpful. And and

1172
00:47:43,600 --> 00:47:45,080
Speaker 2: thank you for your friendship and your support.

1173
00:47:45,120 --> 00:47:47,799
Speaker 1: Marthin Well, thank you, and sell more ELM. I want

1174
00:47:47,840 --> 00:47:48,399
Speaker 1: a lot of ELM.

1175
00:47:48,400 --> 00:47:50,480
Speaker 2: Result, Yes, what's your favorite product?

1176
00:47:50,640 --> 00:47:53,480
Speaker 1: Favorite skew oh no, the all three have three only

1177
00:47:53,640 --> 00:47:55,120
Speaker 1: now we've started small.

1178
00:47:55,239 --> 00:47:56,439
Speaker 2: Yes, we started with two.

1179
00:47:56,520 --> 00:48:00,239
Speaker 1: We now have a third morek to come and and

1180
00:48:00,280 --> 00:48:02,960
Speaker 1: we are really pleased with the progress.

1181
00:48:02,960 --> 00:48:04,400
Speaker 2: Amazing. Congratulations, Thank you

1182
00:48:05,239 --> 00:48:06,160
Speaker 1: Thanks to shop a fight