Josh Beck

is there some type of ceiling that you have in your mind in terms of maybe the percentage of orders

you mentioned the $50 million gross cost as you look to find relief for those investments

going to some of your points on new verticals, certainly a very nice watermark to achieve gross profit breakeven

Have there been any standout learnings when you think about the loyalty program or the fulfillment network or merchant terms

I'm curious kind of what you've learned thus far and kind of why this moment in time was the right moment to inflect upwards

are you getting into a new area where it's maybe beyond just the website? Just kind of curious on maybe if we should be thinking about a different TAM.

Do you feel like you've kind of got that at a point where this is somewhat of a stable pricing pattern moving forward? Is it still in heavy experimentation.

how do you think about kind of making sure that the website ecosystem and app ecosystem remains relevant.

these third party products is something that you're adding to the -- what is probably already a pretty big array of tests. So anything you can share on where you're looking

how much, you know, penetration, do you see in the years ahead, obviously, you've had tremendous success getting to this point.

It sounds like, you know, you're entering that phase, maybe earlier than you had planned, say, six to twelve months ago. So just kind of curious what triggered that change

could this be a trend that continues and maybe provides more ROI and benefit to the P&L?

how do you kind of think about maybe the next step down in terms of unit costs? And then just quickly on agentic

where maybe the business plan shook out versus your expectation with respect to the lower shipping threshold

I don't expect a specific answer, but I'm curious how much headroom you think you have on this utilization angle

I wanted to ask about the magnitude of short-term margin pressure that you're seeing from the strategic investments in shipping

were you able to achieve the types of utilization levels that you would like to during the 2024 holiday season or is that something that you would maybe more likely see in the 2025 holiday season

How should we think about provision growth? It certainly seems like there is a bit of a maturing of the cohorts that you brought on the last two years

any sense you can give us on maybe what are some of the specific areas you are focusing within the feed improvement.

just kind of curious specifically what drove that, and I assume that is part of the confidence in the product work

I wanted to maybe double-click on the ML talent, Steve. And maybe if you could kind of give us the short list of maybe some of the projects that the team is working on

I wanted to ask a little bit about the large advertiser category, kind of where you are with respect to wallet share and kind of how much headroom you think there is

I wanted to discuss the onboarding flows a little bit. It obviously has historically had quite a few steps and quite a few kind of tiles to choose interest.

Can you elaborate on the tailwinds in Google traffic post the May and June core updates as some internet peers have noted AI overview-related traffic headwinds? And if you could delineate between p...

regarding Hatch, can you provide more color on the margin trajectory goals for Hatch after closing

In restaurants and retail, what do you think needs to change for that advertiser base to stabilize and then improve?

maybe a follow-up on the AI strategy. It certainly seems like there's a lot of vectors.

should we think about it as something like a lead generation type of model?

same-store sales has been challenged pretty broadly. What, I guess, are you monitoring?