00:34:23 · John Coogan, Jordi Hays, Harley Finkelstein, Andrew Megalaa
[00:34:23] S1: Yeah. The big thing is measurements. I mean, for me, like, I... I'm six foot eight tall and, like, have specific proportions, but I've [00:34:30] S0: given my [00:34:31] S1: agent Yeah. Flex, Sean. [00:34:32] S4: Flex. You know that. [00:34:33] S1: But I've given my agent, like, every possible measurement, and so it can go. And sometimes it can look for this particular size and then translate. Maybe it's in centimeters and needs to get over to inches or something. It can do imperial metric trans... Translations, but some bits are different. And so vending that to the agent in, okay. Here's our sizing. Here's how we benchmark against European standards, but then also here's almost like a three d model of this item. Here's here's the exact measurements, and then the agent can translate that to match the human that's on the other end. [00:35:10] S4: One of my favorite Shopify merchants is a company out of New York called Gold Belly. [00:35:13] S5: Do you
00:35:13 · Harley Finkelstein
[00:35:13] S4: guys know Gold Belly? Yeah. They're amazing. So I live in Canada now, but I love... I mean, you know, grew up in The US, so I love getting, like, Katz's Deli delivered to to Montreal, and stuff like that. It turns out that some products are easy... Can go over the border easily from Canada... From The US to Canada. Some cannot. Goldbelly needs to be specific to say, like, this type of fish doesn't... Like, because of some duties and and tariffs doesn't work, but this type of fish does work. Again, that was something that you probably thought about in in, you know, in your, you know, it's some sort of, line in your checkout where, like, hey. Like, this won't work there. Now you actually have to merchandise your products to be able to say this ships cross border. Again, very, very new. I I think what's also interesting is on the call today, I got most of the questions were really about, AgenTic, of course. But it's interesting because the reality of what most merchants on Shopify need right now is actually like point of sale. It is international. It is like B2B functionality. It's sort of like the basic stuff. And so I think at Shopify right now, we're in a very interesting time where we're, we're sort of operating in two realities, which is building the future of commerce that people are excited by like AgenTik and at the same time, like actually powering like full stack proper infrastructure for physical retail or for, you know, for, for things like that. It's, it's it's fascinating to see how different types of demographics care about different things right now. And as shop... We're 14% of US ecom. We have to sort of do both.
00:36:39 · John Coogan, Harley Finkelstein, Jordi Hays
[00:36:39] S1: Yeah. The only reason why Katz has a huge line. We drove by Katz's Deli in New York, and it was it was a line down the block, and now we know Amazing. [00:36:46] S4: Great spot. [00:36:47] S1: It's a great spot. [00:36:50] S0: Question on agent monetization. So I'll give you the two situations. If I go to my preferred agent and I say, hey. I want this rain jacket. Please, like, go per... Go buy it for me and make sure that it shows up at my house. Right? The the the merchant is not gonna have any desire to, like, pay any type of referral for that because the demand was already created. Like they did... They they figured out how to reach me and convince me to buy their product some way or another. Right? Attribution is hard, but that they created the demand. I was on their website. I I found the product. In John's case where the agent did the research, did all this discovery based on John's preferences, and then John goes and buys that product, and effectively like created the demand for that product, there's a very strong argument in my view, that the merchant should pass back some of that revenue to the agent for basically generating that lead. But... Yeah.
00:37:45 · Harley Finkelstein
[00:37:45] S4: I mean, that may happen eventually. Right now, the current economics remain completely unchanged. For Shopify merchants, like a gentic transaction carry the same fees the online store transactions do. If the transaction flows through Shopify payments, the same economics apply. So from a merchant perspective, nothing really changes. If you look across like Muse or Instinct or Google AI mode or Microsoft Copilot and ChatGPT, you know, like Shopify merchants default to Shopify payments. So the merchant should have, you know, it shouldn't make any difference whatsoever. Where it may eventually go, and I think I talked about this last time I was on the show is what happened to the gentic ads? Because I think ultimately, gentic advertising will be one of the ways why these, how these agents actually monetize sending customers to your store. And I think the advantage in agentic channels is actually relevant. So I sort of see a time we've already integrated ChatGPT ads, for example, we announced in Q3 that all Shopify merchants can use the ChatGPT ads app to create managed campaigns right on there as well. But we're not assuming that agentic shopping stays ad free. What we're trying to do is making sure our merchants participate in it. So there may be a time where John buying his coat, if he actually, you know, does the search, has a conversation with his personal agent and it shows them two different things and he clicks on the one that actually is sort of in the sponsored bar that that merchant has to pay some sort of commission to the Yeah. To to the application.
00:39:13 · Jordi Hays, Harley Finkelstein
[00:39:13] S0: To me... [00:39:13] S4: That hasn't happened. I think it's gonna be like Google where you've always had ads, but most people click on the organic searches because it feels more legitimate. It feels more Yeah. Organic. [00:39:22] S0: But I guess but I guess what I'm what I'm getting at is like, I still think that in some ways, I think it would be relatively fair and I don't think merchants would have a big issue if agents are creating all this demand. As long as they're showing... As long as they're willing to pull from the entire Shopify product catalog and they're not just picking and choosing. Right? Like if it's something that... A switch you can toggle on on or off. But... [00:39:45] S4: So I think if it's merit based, think you're right. I think consumers... I think merchants are used to paying for traffic, paying for for customers. I think if it's done, I think right now, best I can tell, the AI applications wants to get as many consumers using these AI applications as much as they can. So John having an amazing experience with the raincoat means he's probably gonna come back for the next time. I think right now that is what their focus is. [00:40:08] S0: Yeah. Absolutely. Well, great stuff. Thank you for coming on. Appreciate it. Great. Thanks for having me. Road to road to BFCM. BFCM. It's gonna be a ban. It's upon us. It's upon us. Yeah. I can't wait. I can't wait. Awesome. Cheers, dude.
00:40:08 · Jordi Hays, John Coogan, Bridgit Mendler
[00:40:08] S0: Yeah. Absolutely. Well, great stuff. Thank you for coming on. Appreciate it. Great. Thanks for having me. Road to road to BFCM. BFCM. It's gonna be a ban. It's upon us. It's upon us. Yeah. I can't wait. I can't wait. Awesome. Cheers, dude. [00:40:24] S1: Talk to you soon. Goodbye. Let us tell tell you about Cisco critical infrastructure for the AI era. Unlock seamless real time experiences and new value with Cisco. We have Bridgit Mendler from Northwood Space back on the show. We talked like a month ago. Think the new founder. Always a joy. Bridgit, welcome to the show. [00:40:45] S0: Out of control. Out of control. [00:40:47] S6: You know, we gotta we gotta keep the regular cadence of conversations. Know. So I gotta I gotta keep doing things. [00:40:53] S1: Yeah. I know. Give us the round. Give us the details. With the gongs warmed up, I want Jordi to... [00:40:58] S6: Right on. Yeah. We just finished our $375,000,000 series c fundraise. So that's... Yes. Thank you. Thank you very much. [00:41:10] S1: And and talked last time, but what what what was what the key unlock? Is it is it technology milestone, financial milestone? What really unlocked this particular fundraise?