01:52:45 · John Coogan, Thibault Sottiaux, Jordi Hays
[01:52:45] S1: We have three day weekend and then everyone can test out the latest and and and integrate it into the workflows. Yeah. [01:52:51] S4: It's just, you know, open a chat with the app, like, using it, latest voice. We also demoed it in Yeah. Livestream this morning, and it's very sort of super enjoyable, like magical experience when you first experience it, but also like, you know, on the fifth time as well. It's going to be part of like, you know, day to day experience, you know, of like how you work with these systems. We don't have it yet in the desktop app, but this is something that we're working towards, and when you experience it, it's like a modern day Jarvis, right? It's like you know, you just talk to it, you just walk in your room, and you know, suddenly it's just like doing things on your computer, you know, with the same level of like precision and power, you know, that you currently have over text. [01:53:31] S1: Yeah. It's amazing. Congratulations. Thank you so [01:53:35] S0: much. Hopefully, [01:53:36] S1: you can get some sleep. I'm sure it's crazy. [01:53:37] S0: Big days to come. [01:53:38] S1: Back to the one of five war rooms, whichever one you'll go to next. Have a great rest of your day. Congratulations. And we'll talk to you soon, Tiva. [01:53:45] S0: Cheers.
01:53:45 · Jordi Hays, John Coogan, Sean Frank
[01:53:45] S0: Cheers. [01:53:46] S1: Have great one. Goodbye. Let me tell you a route. Railway. Railway is the all in one intelligent cloud provider. Use your favorite agent to deploy web app servers, databases, and more while Railway automatically takes care of scaling, monitoring, and security. And while we bring in Sean Frank, I'm also gonna tell you about Cisco. Critical infrastructure for the AI era. Unlock seamless real time experiences, a new value with Cisco. Sean, how are doing? Welcome to [01:54:10] S6: the show. Great to see you guys. [01:54:11] S1: First time first time in the actual studio. [01:54:12] S6: Right? Second. Second. I did the Shopify episode. [01:54:14] S1: Oh, that's right. That's right. He took [01:54:16] S0: the time out of his Black Friday. [01:54:18] S1: That was great. Yeah. But we we yeah. We bounced around a lot. It was a it was a big it was a big day. That was good one, though. [01:54:23] S6: Hopefully, we'll do it again. [01:54:24] S1: Yeah. Another And and Black Friday was a record for you. Right? Was successful. [01:54:29] S6: Yeah. Yeah. Huge [01:54:30] S0: Have you have you had a Black Friday that wasn't a record? [01:54:32] S6: No. Every year it's gone up. [01:54:33] S1: Every year. [01:54:34] S6: And it's not gonna fall this year. [01:54:35] S1: Yeah. Up only over here at the Ridge Wallet. Ridge broadly. Right? The portfolio is growing still? [01:54:41] S6: Yeah. The wallet business is it's a great business. Yeah. It's like a 100,000,000 plus a year. Yeah. But the growth is now like all the other stuff we [01:54:48] S1: do. Okay.
01:54:48 · John Coogan, Sean Frank, Jordi Hays
[01:54:48] S1: do. Okay. [01:54:48] S6: So we have, like, a travel line. [01:54:50] S1: Have Luggage. [01:54:51] S6: We do, like, 10% of all men's wedding rings in America. So we have, a huge 10%. [01:54:55] S1: Yeah. Yeah. [01:54:56] S0: It's Double digits of the TAM. [01:54:57] S6: Yeah. It's, like, a very boring monopoly. We sell a ton of, like, men's wedding rings. [01:55:01] S0: And they're coming for it all. [01:55:02] S6: Oh, yeah. Soon. [01:55:04] S0: You won't be able to get married. They're actually going for regulatory capture. You won't be able to get married if you're not planning to use a ridge ring. [01:55:11] S6: Yeah. Because I'm I'm like a big pronatist now because I'm like, get married. Yeah. Oh, [01:55:16] S1: So you're behind all of that. Every time I see some podcaster What's the style? About the the fertility crisis, it's you. Yeah. You're behind it funding it all. [01:55:24] S6: And the big thing now is, like, the tech business for us. Yeah. So, like, we do, like, phone cases, that type of stuff. Yeah. Yeah. It's, like, twelve months old, it's, like, already, like, a $100,000,000 a year. So Wow. Just adding a bunch of new random little little widgets to sell. [01:55:36] S1: That's insane. Okay. So take me through the demand generation side of the business. Like, what is actually changing? Obviously, there's AI generated advertising, AI enhanced targeting. There's all sorts of different stuff. But, like, from your day to day, from the platforms you're advertising on, like, what has been the most material change over the last twelve months?
01:55:36 · John Coogan, Sean Frank, Jordi Hays, Eric Seufert
[01:55:36] S1: That's insane. Okay. So take me through the demand generation side of the business. Like, what is actually changing? Obviously, there's AI generated advertising, AI enhanced targeting. There's all sorts of different stuff. But, like, from your day to day, from the platforms you're advertising on, like, what has been the most material change over the last twelve months? [01:55:58] S6: Well, it's a big day to be here. Right? Because the big meta announcements. Yeah. People were, like, dancing on Meta's grave, like, three days ago, and and now everyone's stoked on it. [01:56:08] S0: Now you have a 1% god candle. Totally. [01:56:12] S1: Is that specifically about the LLM or or the the image generation model? Because the image generation model seems much more impactful to the advertising business than the agentic coding capabilities. [01:56:22] S6: Well yeah. Yeah. Well, I would say the manus actually, like, really helped unlock, like, a lot of, like, stuff inside the ad account. [01:56:31] S1: Using the ad manager more [01:56:32] S6: than Got it. I think, like, it just democratized a lot [01:56:35] S1: of tools that, [01:56:35] S6: like, the best ad managers are already using. [01:56:37] S1: Yep. [01:56:39] S6: But really, we just want Meta to continue to get better. Better. [01:56:42] S2: Yeah. [01:56:43] S6: Right? Over the past three months, they've rolled out a lot of changes of, like, the actual ad algorithm. Yeah. And it was really bad for a lot of people. We just had, like, the best q [01:56:50] S1: two It was good
01:56:50 · John Coogan, Sean Frank, Jordi Hays, Bernt Øivind Børnich, Jeffrey Morgan, Eric Seufert
[01:56:50] S1: two It was good [01:56:50] S6: for you. Oh, it was awesome. [01:56:51] S1: Yeah. Interesting. [01:56:52] S6: I think they're getting So way [01:56:53] S0: so Yeah. Do you think that it was actually bad bad for some people, or they were just going through a slump in their business overall? They had, like, business problems that they wanted to blame on [01:57:04] S5: the ad changes. [01:57:06] S6: Well, dude, yeah. I mean, what's new, right? It's like, everyone so if your business is going bad, it's everyone else's fault. Yeah. But really, like, you know, they do, like, the meta performance summit every May. [01:57:15] S3: Mhmm. [01:57:15] S6: And they've just rolled out so many great changes to the ad algorithm that, like, I think you're getting better impressions with better people. [01:57:22] S2: Yeah. [01:57:22] S6: And I the more compute and AI they throw out, I think it's just gonna get better and better. And, like, we're gonna do it like a future where, like, the perfect impression at the perfect time with the perfect ad that's, like, customized to the person with AI, that's coming. [01:57:35] S1: Yeah. [01:57:35] S6: And click through rates will go up, conversion rates will go up, and CPMs will go up with it. But I think there'll be, like, a moment of arbitrage there.
01:57:35 · Sean Frank, John Coogan, Jordi Hays
[01:57:35] S6: And click through rates will go up, conversion rates will go up, and CPMs will go up with it. But I think there'll be, like, a moment of arbitrage there. [01:57:42] S1: Do do you think do you think Zuck is doing enough to actually message that to customers like you? Because Ben Thompson put out this piece on Monday, sort of an earnings call transcript that he wrote in the voice of Mark Zuckerberg, and his pitch was to investors, telling the investors, hey. Look. We are investing a lot in AI, but it's all in service of the ads business, which is great, which we do take seriously. We have taken some side quests, done some metaverse, some VR stuff. But this investment that we're making right now, you shouldn't beat us up in the public markets because it's going to come back huge. We're growing really fast on the ad side. 33% is massive at that scale, and it's gonna continue to double down. But I'm wondering if if advertisers are are receiving that signal from Meta that it is going to get better. It is some place that they should be spending more time and more dollars. [01:58:34] S6: Yeah. We're a captive audience, so I don't think he has to message to us. [01:58:37] S1: He doesn't. He [01:58:37] S6: he can talk [01:58:38] S0: to you more. Yeah.