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But in terms of us giving you customers, no, we’re not going to do that. And in fact, that is the difference between a marketplace and having an independent business. While a marketplace may rent you their customers for a period of time, they are never going to be your customers. In fact, in some cases, if the marketplace sees you’re making too much money, they may set up a white-label version of what you’re doing. So, that’s what I mean when I say we are on a different side of the table than a lot of other technology companies or marketplaces, because we only do well when these merchants do well independently.
This is really interesting. A couple of weeks ago, as people listen to this, I had on Anjali Sud, the CEO of Vimeo. I asked her, “Why aren’t you competing with YouTube?” And the answer over and over again was, “We’re not going to find an audience for the creator. We’re going to sell tools that let the creator run a business.”
You just took a little dig at Amazon there — Amazon might make a white-label version of your product if you’re too successful on Amazon. We’re going to stay away from the market acquisition business, we’re not going to find you customers. We might help you do it, but we’re going to sell you tools that enable you to better sell to those customers.
There’s a part of me that — Again, we’re in the context of all of these earnings, watching the amount of money flowing through the biggest technology platform companies — in the Ben Thompson parlance, you might call them aggregators — who are aggregating all that demand, aggregating all that audience, and then funneling it wherever they want.
Is your play that there will just be an infinite supply of small businesses that haven’t been sucked up or killed yet? Or that Bonobos, or Warby Parker, or whatever, will become big enough brands to fight back and still use your platform? Because that’s the dynamic that I see. Either you have a huge long tail, or you’ve got a couple of whales that are able to compete.
Well, look, if you look at some of our larger stores, whether it’s Fashion Nova or Tommy John Underwear, Kylie Cosmetics, or Jeffree Star — So, we certainly have some large merchants as well, but I think the more important point that you’re making, which I agree with, is that there’s going to be a place you go as a consumer if you want to buy stuff that you need. If you’re out of toothpaste, or you’re out of detergent and you want it fast, you’re going to go to the marketplace, because it’s quick and it’s easy.
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