Winner Take All

The episode kicks off with a look at inflation and some real estate data  that may hint as to whether or not the FED's rate hikes are working  effectively. Next, we take a look at Elon Musk announcing that he is  backing out of the Twitter deal and I discuss if I think this  transaction will ever actually happen. Also covered, Amazon striking a  deal with Grubhub that could net the eCommerce giant a 15% stake in the  delivery platform and a look at the livestream shopping landscape in the  West. The show ends with discussion on Thrasio, an Amazon seller  aggregation business that is struggling with the current economic slowdown.    Originally Aired: 07/15/22  #Amazon #Podcast #Inflation —

It's the first official day of the recession in the U.S. and we kick off  the episode looking at what this means and why the media doesn't seem  to be paying attention. Next, in a move predicted on WTA pre pandemic,  Pinterest has finally made a change at CEO. Will new CEO Bill Ready be  able to finally tackle commerce on the platform? Also covered, venture  capital firms hurting as startup valuations continue to drop and Netflix  announcing they will offer an advertisement supported subscription  tier. We close out the show looking at news that TikTok's U.S. user data  is being accessed from China, something the platform had claimed was  not happening.   #Podcast #NetflixAds #businessnews

We're back and broadcasting from Minnesota for the summer! The show  starts with a look at rising inflation in the U.S. as we question how  the Federal Reserve is measuring and reacting to the tumultuous economic  environment. Next, a look at how startup valuations are falling and the  changing relationships between VCs and early stage startups. We also  have some new research from Applico on B2B tech acquisitions and whether  distributors or manufacturers are leading investment into new digital  business models. Also covered, Freightos' SPAC deal, Revlon going  bankrupt, Materiel Bank making an acquisition, historic data on M&A  deals during downturns, and what the definition of a "centaur" startup  is.   #B2BPodcast #marketplace #podcasts  —

The episode opens up with a look at Airbnb's decision to exit the  Chinese market, a move that I see as part of a larger exodus of foreign  tech companies who've been unwelcome in China and continuously managing  complicated relationships with the Chinese government's regulators.  Next, as we see foreign companies exiting China, the government has  pledged to now support its domestic tech enterprises. Is this the end of  China's "crackdown on tech" or just more posturing? Also covered in  this episode, SoftBank's LatAm division leaving to start a new outside  venture and Ford CEO Jim Farley's comments on taking Ford's EV sales  direct-to-consumer, potentially cutting out Ford's vast American  dealership network.   #podcast #Airbnbstock #techindustry  

My Modern Monopolies co-author Nick Johnson joins the episode and our  discussion starts with Sequia Capital's presentation to growth startups  urging founders to focus on profitability and positive cash flows. Also  covered, how some VC may have over extended during the current downturn  and an explanation on open vs. closed marketplaces.   #podcast #startupnews #marketplaces  —

We start the show with a look at how Australia's law requiring big tech  companies to pay for news sharing has been going 1+ years in. Next, we  share some Applico data on M&A activity among B2B distributors and  adjacent competitors looking to disintermediate incumbents and disrupt  the traditional supply chain. The second half of the show covers some  washy data on market outflows coming out of China and why Carvana has  gone from a rising tech star on Wall Street to a sputtering linear auto  business down over 90%.   #Podcast #B2B #chinastocks

The episode opens up looking into the tumultuous market conditions as of  late and Netflix's reporting that subscriber numbers are declining.  Next, Elon Musk has announced the Twitter deal is on hold pending  verification on the number of fake/bot users. I discuss what these means  for the deal price and if this could be the end of this transaction.  Also covered, Nike files a lawsuit against sneaker marketplace StockX  and Walmart's marketplace sees a huge influx of Chinese sellers. We wrap  up with JP Morgan's accidental "uninvestable" rating given to Chinese  internet stocks, WhatsApp employees speaking out against Facebook, and  India cracking down on Amazon and Walmart abusing legal loopholes.   #Podcast #BusinessNews #NFLX —

It's a special edition of the show focused on news in the B2B industry.  First, we take a look at both Amazon and Home Depot making announcements  that they'll be launching funds to invest in B2B technology startups. I  break down what these companies have invested in so far and explain why  this should be a wake up call for traditional distributors in B2B. Also  in this episode, a look at a top HVAC distributor and a top IT  distributor embracing marketplace and tech investment.   #VCInvesting #B2B #Distribution   —

The episode starts with SEC documents that reveal what the breakup fee  is between Elon Musk and Twitter. We discuss if the size of this fee is a  signal on how serious each side is on making this deal happen. Another  story concerning the Twitter buyout, we look at what Amazon founder Jeff  Bezos has to say about the transaction and Elon's business ties with  China. We also dig into eCommerce fulfillment, looking at news that  Walmart's marketplace fulfillment service has grown 500% and Shopify  making a potential acqusition to bolster services for its sellers. We  close out the episode looking at how tech protectionism in India has  fostered growth of domestic TikTok competitors.   #Podcast #technews #twitterupdate   —

We start off with an update on Elon Musk's attempts to purchase a  majority share in the social platform Twitter. With the Twitter board  now instituting a poison pill strategy to ward off hostile takeover  attempts, it would appear things are getting tense. I still think Elon  can make a purchase of Twitter happen but it's going to have to be done  the hard way. Next, a look at Chinese netizens voicing dissent on the  social platform Weibo. We close out the episode with a look at  Andreessen Horowitz's 2022 top 100 marketplaces rankings.   #podcast #ElonMusk #twitterupdate  —

The episode starts with a detailed look at the saga between Elon Musk  and Twitter. At the time of recording, Elon had rejected an offer to  join Twitter's board and was holding an almost 10% stake in the social  platform. Next, a look at the Etsy seller strike over the craft  marketplace's increases to its take rate. Is this a classic example of a  dominant platform squeezing its producers or does Etsy need this  increased revenue to spend on platform improvements? The show closes  with a look at luxury fashion platform Farfetch making a $200 million  investment into luxury department store owners Neiman Marcus Group.   00:00 - Subscribe and fight big tech! 00:37 - The Elon Twitter takeover 17:56 - Etsy sellers on strike 26:48 - Farfetch invests in Neiman Marcus   Originally Aired: 04/12/22  #Farfetch #ElonTwitter #TwitterBuyout

We dive into new tech regulations in this episode, begining with a look at the EU's troublesome new Digital Markets Act. This new EU regulation aims to curb the power of gatekeeper tech companies but unfortunately the set definition for a "gatekeeper" is much too broad and I think this one will cause much more chaos than good. Next, we look at some comments from the U.S. on how tech companies may be regulated before the end of 2022. We close out with a look at why GameStop is refusing to pay Boston Consulting Group $30 million.   00:00 - Get subscribed and fight big tech 01:17 - EU's Digital Markets Act 09:09 - How Will The U.S. Regulate Tech in 2022? 13:19 - GameStop's Consulting Bill   #Regulation #TechLaw #BigTech —

The episodes kicks off looking at Uber's decision to integrate taxis  onto the platform in NYC and San Francisco. Next, a look at Pinterest's  failed attempts to add commerce to its platform and the company's  spectacular failure to acquire Verishop. We also cover two stories on  Instacart, looking at the delivery platform deciding to slash its  valuation by 40% and a new suite of SaaS tools being offered to grocers.  The episode closes with our announcement of Dot Foods acquisition of Morsum. #Instacart #RideSharing #Podcast —

The episode starts with a look at the European Union banning Russian  media from spreading on the web. While I've supported businesses right  to cease business with Russia, I think an outright ban on information is  a more complicated issue. Next, discussion on the SEC asking for more  information from Chinese companies and some signs that the tech  crackdown from Chinese regulators may be easing. We end the episode with  a look at the FED announcing they will raise interest rates by 25 basis  points.   00:00 - Get subscribed and fight big tech 01:27 - Russian Media Ban 07:16 - SEC Looking at Chinese Stocks 15:46 - FED Raises Rates #InterestRate #ChineseStocks #Russia —

I dig into the auto industry with Applico Managing Director Nick  Johnson! We start off with a big announcement concerning Applico Capital  and the LatAm auto market. Next, Carvana's purchase of ADESA is  analyzed as Nick and I breakdown why the digital enabled car retailer  might want to own a B2B auction provider. We finish off the episode  looking at how some auto manufactures are leaning towards direct to  consumer sales.   00:00 - Subscribe and Fight Big Tech 00:29 - Investing in Curbo 05:43 - Carvana Acquires Auction Company ADESA 11:54 - Automakers Go Direct #Automakers #Carvana #Applico 

We dive right into the episode with Alex discussing why he decided to  sell his "beloved" mfers NFT. He details if this venture into the NFT  world was profitable and if he would recommend others try out the  "investment". For our second topic, a look at Elon Musk supplying the  Ukraine with Starlink internet equipment so that the nation can access  internet while in conflict with Russia. Also covered, eBay's declining  market share has now sunk below 5% and what companies are pulling out of  the Russian market.   Originally Aired: 03/03/22 #eBay #NFTs #Podcast —   📚 Grab a copy of the Amazon Best Seller Modern Monopolies: https://amzn.com/B017RC8CBC   ❓ Are you part of a large enterprise interested in spinning out a platform business? Connect with us here: https://resources.applicoinc.com/wta-contact/   At Applico, we identify untapped, intrinsic assets that give existing  enterprises an enormous advantage to spin-out new tech companies.  WisdomTree licensed Applico's Platform Insights Data Product to aid in  the creation of the PLAT ETF.

The Federal Reserve has broken our American economy and I sit down with Chris Leonard to discuss his new book that details how our monetary system ended up here teetering on ruin. Chris is a New York Times best selling author and his new book The Lords of Easy Money: How the Federal Reserve Broke the American Economy is a "fascinating and propulsive story about the Federal Reserve" and how quantitative easing and political posturing have put America's monetary system in peril.  I talked to Chris about how the United States Federal Reserve has printed an astronomical amount of money under FED Chairs Ben S. Bernanke, Janet Yellen, and Jerome Powell. We dig into why the Federal Reserve was originally created and how the institution has changed over the years to become, as meme lords would put it, the folks who make the "money printer go brrr". Chris offers his insights into why a crash is all but imminent for the American economy and what role inflation plays in accelerating this in 2022.   See more 👀 of our interviews with founders, economists, scholars, and business mavens on this playlist: https://www.youtube.com/playlist?list...  00:00 - Subscribe and Fight Big Tech 00:39 - How has the FEDs money printing recently been unprecedented? 03:19 - How the FED has jumped the shark from its original thesis 06:56 - Becoming a lender of last resort to everyone 09:32 - How the FED does quantitative easing 16:14 - Purchasing corporate junk debt 19:20 - The Federal Reserve is now a backstop for the Federal Deficit? How does that work?! 24:37 - Is it even possible to avoid a crash now? 30:32 - The FEDs failed attempts to normalize the economy 32:33 - Have Americans lost confidence in the FED? 37:27 - Has the FED lied and set us up for ruin with its short term actions? 46:19 - When will the U.S. economy crash happen? 48:24 - What should Americans do with their money? 50:16 - Is China's manipulation of its monetary system worse than the U.S.? 53:56 - Closing remarks   #FederalReserve #Inflation2022 #MoneyPrinting—

This episode of Winner Take All starts by looking at Peloton, a downtrodden exercise equipment and "media" company that activist investors are peddling to everyone from Disney and Netflix to Berkshire Hathaway. Alex comments on why he thinks the business is in decline and criticizes Peloton for claiming to have Network effects. Next, discussion on why music isn't profitable for Spotify, how the company's cash flow is not as it appears, and the controversy surrounding its marquee podcaster Joe Rogan. The episode closes with news of Facebook stock being wiped out in the biggest one-day drop in stock market history. NOTE: We forgot to record the outro so sorry for the abrupt ending. We promise to tell you to "have a nice day" at the end of the next episode. 00:00 - Subscribe and Fight Big Tech 00:22 - Will Peloton go out of business? 07:34 - Music is bad business for Spotify 15:07 - Facebook Stock Plummets #PelotonStock #Spotify #FacebookStock

I talk with Christopher Bedford, a founding partner at RightForge, about  building a new internet infrastructure company in the shadow of big  tech. RightForge is an internet infrastructure provider that claims to  be a first of its kind company operating infrastructure while being  committed to American ideals online. RightForge is positioning  themselves to be a key player for enabling independent free speech  platforms to operate outside the gargantuan grasp of big tech providers  like Amazon (operator of AWS). With many questions being raised around  what constitutes free speech online and when platforms should or  shouldn't be allowed to take action against users, RightForge seems  positioned well for users who lean towards wanting a more open internet  and are concerned about being deplatformed at the infrastructure level.   I chatted with Chris about his experiences building a new internet  infrastructure provider in an already mature and established industry,  what inspired him and his partners to found the company, and the  American ideals he sees as a guide to how RightForge should operate and  find its niche. I think an overall theme here is looking at why  independent platforms may be the future and why RightForge is needed the  facilitate new tech entrants build around free speech and American  ideals.   See more 👀 of our interviews with founders, economists, scholars, and  business mavens on this playlist: https://www.youtube.com/playlist?list=PL_K104J9GHJaQENCpllXso5Rf-t-Uc_x5   00:00 - Subscribe and Fight Big Tech 00:23 - What is RightForge and why was the company founded? 03:41 - What clients are using RightForge today? 05:55 - Why are alternatives to big tech needed? 11:16 - Who would've thought you could start a infrastructure company in 2022! 16:15 - Has big tech lost control? 20:08 - What challenges come with building a company that doesn't falter on American ideals? 24:57 - The market for RightForge 28:32 - Will this come back to bite big tech? 30:26 - Closing thoughts   Originally Aired: 02/21/22 #independentplatforms #platformbuilding #freespeechplatforms—

I start the show with a look at the epic Twitter battle between (now former) Bolt CEO Ryan Breslow and Y Combinator. Are Breslow's claims anointing Y Combinator and Stripe as mob bosses of  Silicon Valley accurate? Next, a story that DoorDash engineers are outraged at the company policy requiring all employees to do a food delivery once per month. We wrap up looking at Robinhood's stock price being in the basement (time to fire Vlad maybe?) and Sonos beating Google via its patents.   00:00 - Subscribe and Fight Big Tech 00:26 - Silicon Valley mob bosses? 14:06 - DoorDash engineers make deliveries 17:09 - Time for Robinhood to fire Vlad 19:34 - Sonos beats Google   Originally Aired: 02/0122 #YCombinator #Robinhood #Sonos

Nick and I welcome Jonathan A. Knee onto the show, author of The Platform Delusion: Who Wins and Who Loses in the Age of Tech Titans. Knee is Professor of Professional Practice and Co-Director of the Media and Technology Program at Columbia Business School and also a Senior Advisor at Evercore Partners.   At a quick glance, The Platform Delusion appears to stand in opposition to Nick and I's book, Modern Monopolies. Tim Wu describes Jonathan's new book as "a jolting and often hilarious exposure of our delusions that teaches, once again, that the fundamentals of business may not have changed quite as much as you think they have." When we really dig down into Knee's "Core Tenets of the Platform Delusion" and discuss why platforms like Amazon and Google have become so dominant, we find a lot more alignment between Modern Monopolies and The Platform Delusion than one would initially think.   One area we differ on is whether or not big tech companies are monopolies. We've often criticized U.S. antitrust regulator's focus on consumers while big tech runs rampant taking advantage of producers on platforms e.g. Amazon third-party sellers. For more on this topic, see our recent video on the FTC reshaping its anti competition arguments to take monopsony power into account.   See more 👀 of our interviews with founders, economists, scholars, and business mavens on this playlist: https://www.youtube.com/playlist?list...  00:00 - Subscribe and Fight Big Tech 00:55 - Modern Monopolies vs The Platform Delusion 02:05 - The misuse of the word platform 05:48 - Do all platforms have network effects? 11:36 - What variables drive a successful platform? 20:17 - Netflix has no network effects 21:26 - Why does everyone claim to be a platform? 25:24 - Amazon not a monopoly? 29:21 - Does Amazon have a monopoly over third party sellers AKA producers? 33:31 - Should antitrust law consider sellers as a customer to Amazon? 42:36 - Are antitrust regulators approaching this correctly? 45:01 - Big tech taking advantage of suppliers 49:04 - Big tech platforms as utilities 56:02 - Tech censorship 57:57 - Thanks for watching.  Make sure to subscribe!  #Interview #MBA #BusinessNews p—

I sit down with Salih Hudayar, Prime Minister of the East Turkistan Government-in-Exile. The East Turkistan Government-in-Exile claims to be the sole representation of East Turkistan and its people on the international stage. East Turkestan is an area annexed by the People's Republic of China in 1949 and is officially recognized as the Xinjiang Uygur Autonomous Region despite The East Turkistan Government in Exile's calls on the U.S. and other governments to recognize East Turkistan.   I talked with Salih about his journey establishing the East Turkistan Government-in-Exile and the ongoing humanitarian crisis in the Xinjiang region. We spoke about how platforms and big tech have impacted communications and organization of the Uyghur people in both positive and negative ways. Hudayar gives us some examples of the double standards he's seen when using monopolized tech offers such as Facebook ads and we comment on a short list of tech companies that have been deemed unsafe for use by political figures like Salih, some examples being Zoom and TikTok.   Despite the extremely serious nature of what is taking place in East Turkistan/Xinjiang, we do find some reasons to be optimistic and hopeful about progress. Salih notes that Google translate has added the Uyghur language and we speak about the growing population of Americans, and citizens globally, who have become familiar and supportive of Prime Minister Hudayar's mission for East Turkistan. 00:00 - Subscribe and Fight Big Tech 00:31 - What and where is East Turkistan? 03:50 - How does a Government-in-Exile start? 06:13 - How has media/tech coverage been on what's happening in Xinjiang? 07:52 - Is your voice being muted by big tech? 09:03 - Facebook's double standard 09:32 - Why do you avoid using Zoom? 10:04 - Censorship on TikTok 11:21 - Experience with 50 cent army bots 12:57 - The information war 15:51 - Positive moves from big tech 18:33 - Boycott of 2022 Beijing Olympics 22:25 - Support from the people 28:08 Enes Kanter Speaking out 29:35 - How can viewers/listeners help? 31:32 - Does this come directly from the top? 35:25 - Thank you for joining us!   See more 👀 of our interviews with founders, economists, scholars, and business mavens on this playlist: https://www.youtube.com/playlist?list...  Originally Aired: 02/04/22 #Interview #LeastWatchedOlympics #Uyghurs—

The FTC has reshaped its arguments against big tech monopolies and will  now look at potential regulation with monopsony power in mind. Alex and  Nick discuss how this new angle being used by U.S. competition  regulators at the Federal Trade Commission, lead by Biden-appointed FTC  chairwoman Lina Khan, has the potential to actually prove big tech  platforms like Amazon and Google are monopsonies.   How the FTC Is Reshaping the Antitrust Argument Against Tech Giants: https://www.wsj.com/articles/how-the-ftc-is-reshaping-the-antitrust-argument-against-tech-giants-11643432448   Originally Aired: 01/31/22  #Monopsony #BigTech #Antitrust  —   📚 Grab a copy of the Amazon Best Seller Modern Monopolies: https://amzn.com/B017RC8CBC   ❓ Are you part of a large enterprise interested in spinning out a platform business? Connect with us here: https://resources.applicoinc.com/wta-contact/   At Applico, we identify untapped, intrinsic assets that give existing  enterprises an enormous advantage to spin-out new tech companies.  WisdomTree licensed Applico's Platform Insights Data Product to aid in  the creation of the PLAT ETF.

Alex starts the show looking at a CNBC story that claims ultra-wealthy investors are buying platform stocks as a hedge against inflation in the United States. Next, a look at the unpaid army of moderators that run platforms like Reddit and Wikipedia. Alex analyzes how much power these users hold and whether or not platforms should be paying them. Also covered in this episode, why food delivery platforms are adding in fintech functions and reports that Joe Rogan already hates alt-tech social platform Gettr.   00:00 - Subscribe and Fight Big Tech 01:42 - Platforms companies an inflation hedge? 08:22 - Reddit mods getting paid? 21:44 - Delivery fintech models 26:18 - Joe Rogan hates Gettr   #PlatformBusiness #CNBC #Reddit

The episode starts with a look at Microsoft's massive deal to buy Activision Blizzard inc.. Alex breaks down the deal and questions Microsoft's positioning that this deal is a play towards the metaverse. Next, news that Y Combinator will change its standard deal offered to startups in the accelerator to now invest as much as $500,000. We discuss how this change may affect seed investments for YC startups and share some reactions and thoughts from Y Combinator alums that work at Applico. The show closes with a look at increased buying of inflation protected bonds.   00:00 - Subscribe and Fight Big Tech 00:19 - Microsoft Buys Activision 07:48 - Y Combinator Ups Startup Investment 22:01 - Inflation Protected Bonds   Originally Aired: 01/18/22 #Microsoft #YCombinator #Inflation

Alex starts the show with a look at the metaverse acquisitions Facebook has been making and whether or not Mark Zuckerberg can just buy Roblox. Next, Alex explains why he loves Rocket Mortgage's move to buy TrueBill, a personal finance suite for users who'd like to track spending and rid themselves of delinquent subscriptions. Also covered, why China is seeing a decline in venture capital investing and the SEC's investigation into Medallion Financial Corp..   00:00 - Subscribe and Fight Big Tech 01:09 - Metaverse Acquisition Deals 07:18 - A Great M&A Deal for Rocket Mortgage 23:55 - China VC Investing Trends Down 34:07 - Taxi Medallion Bank Gone Wrong, SEC Investigates   Originally Aired: 12/30/21 #Podcast #Business #Platforms

Applico CEO Alex Moazed breaks down platform and platform adjacent companies that are expected to go public in 2022. These companies span multiple spaces and industries including B2B, fintech/payments, food, delivery, eCommerce, buy now pay later, social media, content, and more. Moazed looks at various fundraising by these platforms, current valuations, and gives his thoughts on market fit and IPO timing.   00:00 - Subscribe and Follow the Fight Against Big Tech 00:15 - Instacart IPO 01:07 - FlipKart IPO 01:49 - Gopuff IPO 05:49 - Stripe IPO 08:18 - Plaid IPO 09:50 - Klarna IPO 11:56 - Reddit IPO 12:40 - Discord IPO 13:44 - OnlyFans IPO 14:49 -  Patreon IPO 15:18 - Turo IPO 16:40 - Farmer's Business Network IPO 18:47 - Houzz IPO 20:51 - Quora IPO   Originally Aired: 01/07/22 #2022IPO #IPO #StockMarket 📚 Grab a copy of the Amazon Best Seller Modern Monopolies: https://amzn.com/B017RC8CBC  ❓ Are you part of a large enterprise interested in spinning out a platform business? Connect with us here: https://resources.applicoinc.com/wta-...  At Applico, we identify untapped, intrinsic assets that give existing enterprises an enormous advantage to spin-out new tech companies. WisdomTree licensed Applico's Platform Insights Data Product to aid in the creation of the PLAT ETF.

Alex kicks off the episode looking at eBay's changes to how the company will be reporting gross merchandise volume and he breaks down what eBay's claimed immaterial differences between the old and new GMV numbers actually are. Reddit has confidentially filed for IPO and we take a look at how profitable of an investment Reddit could turn out to be for Advance Publications who acquired the platform back in 2006. Also covered, Amazon opening a bookstore for the Chinese Communist Party, Cathie Wood's "promise" that her ARK ETF's will return 40%, and a big milestone in the digitization of the B2B industry. Alex also shares his favorite highlights from Marketplace Pulse's fabulous Marketplaces Year in Review 2021.   00:00 - Subscribe and Fight Big Tech 00:36 - eBay's New GMV 11:54 - Reddit Going Public 17:20 - Amazon's CCP Bookshop 26:00 - Marketplaces Year in Review 2021 34:02 - a B2B eCommerce Milestone! 37:23 - ARK's 40% Return Promise   Marketplaces Year in Review 2021:https://www.marketplacepulse.com/mark...  Originally Aired: 12/21/21 #Podcast #BigTech #B2B

The show opens looking at an interview with Palantir CEO Alex Karp where he calls out Silicon Valley's reluctance to work with the U.S. government. Alex commends Karp for his criticisms and calls for big tech to have more of a backbone when it comes to supporting the U.S.. Next, discussion of The Information's exposé revealing Apple's clandestine $275 billion investment into China. The show closes with some alt tech news that includes former President Trump's SPAC DWAC (Digital World Acquisition Corp) will partner with Rumble, and a letter from Gab founder Andrew Torba calling out it's alt-tech contemporaries and stating Gab is not for sale. Originally Aired: 12/07/21 #Podcast #BigTech #Palantir —

The episode starts with analysis of a report from the Institute for Local Self-Reliance that details how  Amazon has continuously extracted increasing profits from third-party sellers on its marketplace platform. Next, Alex digs into the departure of Jack Dorsey from Twitter and looks at newly appointed CEO Parag Agrawal. Also covered, alt tech video platform Rumble announcing it will go public via a SPAC and Chinese companies delisting from U.S. exchanges. The show ends with a look at Biden confirming a band on Huawei and ZTE products in the United States. 00:00 - Subscribe and Fight Big Tech 01:58 - Amazon's Hidden Profits 14:13 - Jack Dorsey Out at Twitter 25:49 - Rumble SPAC 29:42 - Will $BABA Be Delisted? 33:53 - Huawei and ZTE Banned Originally Aired: 12/03/21 #BigTech #Podcast #TwitterCEO

The show starts off with an interview of Harsh Khurana, the CEO of Cultivate, a browser extension and shopping app with a mission to help businesses that are manufacturing goods locally. Next, a look at Leaflink's expansion of its logistics offerings and a highlighting of the macro trend in which B2B marketplaces broaden via key value added services around logistics and/or financing. Also covered, Macy's partnering with Mirakl to open a digital marketplace, and a look at the various approaches B2B players are taking to offering eCommerce tools to customers.   00:00 - Subscribe and Fight Big Tech 00:20 - Interview w/ Cultivate CEO Harsh Khurana 14:08 - A Big Cannabis B2B Op 20:52 - Macy's Marketplace Finally? 26:35 - B2B eCommerce Offerings   Originally Aired: 11/23/21 #B2B #Logistics #B2BPodcast   📚 Grab a copy of the Amazon Best Seller Modern Monopolies: https://amzn.com/B017RC8CBC

Alex starts the show with a look at the CEO of Wish stepping down as the stock continues to plummet and face challenges with user retention. Next, discussion on Faire, Applico's number 1 ranked B2B marketplace, and its series G raise at a $12.4 billion valuation. Also covered in this episode, the vertical labor marketplace landscape and how the new U.S. infrastructure bill could impact the ongoing inflation concerns.   00:00 - Subscribe and Fight Big Tech 01:56 - Wish CEO Leaves 10:37 - Faire Valuation 13:50 - Vertical Labor Marketplaces 19:40 - Infrastructure Bill   Originally Aired: 11/16/21 #LaborMarketplace #GigEconomy #WishStock  📚 Grab a copy of the Amazon Best Seller Modern Monopolies: https://amzn.com/B017RC8CBC

Alex kicks off the show discussing DoorDash's $8.1 billion acquisition of Wolt, a deal that should provide valuable European inroads to the United State's top delivery app. He also discusses the EU ruling against Google's effort to appeal a $2.8 billion fine for giving preferential treatment to it's own shopping app and a Financial Times article looking at suspicious trading from Chinese tech executives. The show ends with a look at rising inflation and how companies are reacting.   00:00 - Subscribe and Fight Big Tech 01:45 - DoorDash Takes on Europe 08:40 - What DoorDash Should Buy Next! 11:13 - Google Fined Big by EU Regulators 15:24 - Insider Trading in China Exposed? 23:03 - Inflation Continues   Originally Aired: 11/12/21 #Inflation #DoorDash #Podcast

To start the session Alex focuses on how Google is dealing with South Korea's new app store laws and explains how Big Tech companies are responding and combating new regulation. Next, Alex looks at autonomous delivery company Nuro and breaks down why he sees last mile delivery as a key for unlocking the commercial autonomous vehicle market. The show closes with discussion on how B2B enterprises are having product data stolen and then used against them.   00:00 - Subscribe and Fight Big Tech 02:08 - The Next Phase of Platform War 08:20 - Unlocking The Autonomous Vehicle Market 14:31 - B2B Distributors Protecting Data   Originally Aired: 11/09/21 #B2B #Podcast #AppStore

Check out Cultivate at the links below: Chrome: https://www.wecultivate.us/get/extension/chrome?campaignId=WTA Firefox: https://www.wecultivate.us/get/extension/firefox?campaignId=WTA Safari: https://www.wecultivate.us/get/extension/safari?campaignId=WTA   Harsh Khurana, the CEO of Cultivate, a browser extension and shopping app with a mission to help businesses that are manufacturing goods  locally, joins Alex on the show. The two discuss how Khurana launched Cultivate in 2020 during a time in which small American businesses were  struggling. Harsh tells the story of how he secured funding from Shark Tank star and Dallas Mavericks owner Mark Cuban through a cold email and  him and Alex explore some ideas on why large tech platforms seem  hesitant to promote American products and manufacturers.   Originally Aired: 11/23/21 #Cultivate #MadeInUSA #SmallBusiness   00:00 - Subscribe and Fight Big Tech 00:24 - What is Cultivate 01:21 - Cold Emailing Mark Cuban?! 02:06 - One Line Pitch That Got Cuban on as an Investor 02:33 - The Cultivate Browser Extension 04:15 - Identifying Amazon Brand and Seller Origin 05:44 - Data Says Over Half of Amazon Sellers from China? 😲 06:34 - Why doesn't Amazon Promote Made in USA? 10:01 - How to Get Cultivate and Support American Made Products 11:39 - Why We Need to Bring Back US Manufacturing 12:43 - Closing Thoughts   Cultivate was founded with a mission to help businesses that are manufacturing goods locally to generate more sales, positively impact local economic growth, and in-turn, create more jobs for our families, friends, and neighbors.  —

The show starts with a look at Bushel's recent acquisition of GrainBridge and the procliamed death of grain trading platforms. Next, Alex's take on Zillow canceling its iBuyer program Zillow offers after losing over $1 billion. Also covered, Peloton's struggles as a linear exervise equipment provider, ByteDance founder Zhang Yiming leaving the private tech giant, and Yahoo terminating operations in China. The show closes with news on the FED slowing quantitative easing.   00:00 - Subscribe and Fight Big Tech 02:11 - The End of Grain Marketplaces? 12:54 - Zillow Loses Big Flipping Houses 22:26 - Peloton's Big Problem 28:00 - ByteDance Founder Ousted 30:24 - Yahoo Shutters Operations 33:03 - FED and QE   Originally Aired: 11/05/21 #AgTech #iBuying #ByteDance

Support the show and subscribe to WTA on YouTube: https://t.co/TErmfNQylT The show opens with a look at Sequoia Capital moving away from the traditional venture capital formula of funds with around a 10 year time horizon to creating a “permanent structure” that will store investor capital. Next, Alex discusses Rent The Runway going public via IPO. He looks at Rent the Runway's business and explains why he sees a lack of business model innovation at the once darling fashion startup. The second half of the show highlight's JCPenny partnering with a under the radar marketplace and Amazon's deal to partner with insurtech startup NEXT to offer coverage to sellers.   00:00 - Subscribe and Fight Big Tech 01:35 - Sequoia Fund Makes a Big Change 13:40 - I Wouldn't Touch This IPO 21:39 - Marketplaces Enabling Retailers 28:21 - Next Insurance + Amazon   Originally Aired: 11/02/21 #Podcast #Amazon #Sequoia

Alex begins the show by discussing Mark Zuckerberg's announcement that  Facebook is changing its name to Meta. He watches excerpts from  Zuckerberg's announcement at the Facebook Connect event and gives his  thoughts on the metaverse future. Next, a look at how Apple has  increased ad revenue as result of its new privacy and tracking policies.  The show ends with a discussion about inflation and why it's not  something to ignore.   Originally Aired: 10/29/21 #Podcast #Inflation #Metaverse

The episode kicks off with a look at WeWork's public debut after merging with BowX Acquisition Corp., a special purpose acquisition company valued at $9 billion. Next, the SPAC talk continues with news on Digital World Acquisition Corp, the company slated to merge with a new social media company from president Donald Trump. Alex also does an in-depth analysis of Berkshire eSupply, a entrant in the B2B marketplace space competing with Zoro and Amazon. The show closes with a look at Mindbody's recent acquisiton of ClassPass.   00:00 - Subscribe and Fight Big Tech 01:53 - WeWork Goes Public via SPAC! 07:27 - What is DWAC? 17:02 - Berkshire Takes on Amazon? 34:09 - The Future of Gyms   Originally Aired: 10/22/21 #StockMarket #SPAC #Podcast

Jacob Helberg joins Alex Moazed for a special episode detailing Helbergs  new book The Wires of War. Helberg, who previously led Google’s global  internal product policy efforts to combat disinformation and foreign  interference, discusses the current grey war between the United States  and China. The two dig into how technology is being utilized by state  agencies to shape opinion and spread misinformation. Jacob explains how  this tech-fueled war will alter the world’s balance of power and  explores ways the U.S. can combat this quickly escalating two-front  technology cold war between democracy and autocracy.   Jacob Helberg is a senior adviser at the Stanford University Center on  Geopolitics and Technology and an adjunct fellow at the Center for  Strategic and International Studies (CSIS). Helberg also co-chairs the  Brookings Institution China Strategy Working Group, where is helping  support and lead research efforts focused on China’s intentions, foreign  policy, and what the right long-term U.S. strategy should be to meet  the challenge. From 2016 to 2020, Helberg led Google’s internal global  product policy efforts to combat disinformation and foreign  interference. Helberg has a M.S. in cybersecurity risk and strategy from  New York University.   Originally Aired: 10/27/21 #China #GreyWar #Interview

Alex kicks off the episode with an in-depth analysis on the market cap of DoorDash rising above Uber despite Uber having multiple offerings outside of food delivery. The show's second topic looks at the recent exposè by Reuters detailing Amazon's abuse of seller data in Inida and the fallout this has caused between Amazon an U.S. regulators. Also covered, Microsoft pulling out of China and streamer Ninja detailing his view on what went wrong with the shuttered Twitch competitor, Mixer.   00:00 - Subscribe and Fight Big Tech 01:47 - Has DoorDash Beat Uber? 🚗 19:01 - Amazon Caught in India Stealing 🇮🇳 32:26 - LinkedIn Pulls the Plug in China 🇨🇳 37:23 - Ninja Spills the Mixer Beans ⚠   Originally Aired: 10/19/21 #Amazon #Microsoft #Uber   —   📚 Grab a copy of the Amazon Best Seller Modern Monopolies: https://amzn.com/B017RC8CBC  ❓ Are you part of a large enterprise interested in spinning out a platform business? Connect with us here: https://resources.applicoinc.com/wta-...  At Applico, we identify untapped, intrinsic assets that give existing enterprises an enormous advantage to spin-out new tech companies. WisdomTree licensed Applico's Platform Insights Data Product to aid in the creation of the PLAT ETF.

Alex looks at recent reports chronicling the growth of platforms in the second hand fashion industry. He highlights the varied niches that these platforms have been able to grow into large verticals spanning a variety of areas in the clothing industry. Next, coverage of two examples of government taking on big tech platforms starting with Australia's news media bargaining code and ending with Nigeria mandating that Twitter open a local office if the communication platform wants to operate in the African country. Also covered, Alex's article with WisdomTree outlining what could be the next FAMGA, Square's deal to acquire AfterPay, and the debacle that is Ozy Media.    00:00 - Subscribe and Fight Big Tech 00:22 - Secondhand Platforms Thriving 12:23 - Governments Fight Big Tech 23:11 - The Next FAMGA 30:54 - This Could Be Huge for $SQ! 39:09 - Ozy Media Scandal   Originally Aired: 10/13/21 #Ozy #FAANG #SecondHand  —   📚 Grab a copy of the Amazon Best Seller Modern Monopolies: https://amzn.com/B017RC8CBC ❓ Are you part of a large enterprise interested in spinning out a platform business? Connect with us here: https://resources.applicoinc.com/wta-... At Applico, we identify untapped, intrinsic assets that give existing enterprises an enormous advantage to spin-out new tech companies. WisdomTree licensed Applico's Platform Insights Data Product to aid in the creation of the PLAT ETF.

Applico CTO Tri Tran joins Alex for an opening segment looking at Procore's $500 million acquisition of LevelSet, a company specializing in lien rights management for the construction industry. Next, Alex discusses multiple articles on the current supply chain disruption in the United States. He looks at how the labor shortage has exacerbated the issues when importing goods into the U.S. as well as the letter issued by the International Chamber of Shipping bringing attention to the difficulties faced by transport workers. Also covered in this episode, continued inflation worries in the U.S., Amazon shipping more packages than FedEx, Macy's and Amazon fighting over a billboard, and Walmart expanding its ad business. The show closes out with a look at the B2B marketplace opportunities and Zoom's deal to acquire Five9 being terminated.   00:00 - Subscribe and Fight Big Tech 00:21 - Procore's Big Acquisition 08:11 - Labor and The Global Supply Chain 18:13 - Should You Be Worried About Inflation? 25:40 - Macy's Filed a Lawsuit Over This?! 26:55 - Amazon's New Dominant Category 28:50 - Where Amazon Can Be Beaten 34:15 - Why Walmart Poached an Instacart C-Suite Exec 36:48 - Zoom's Deal Fall Out   Originally Aired: 10/05/21 #Inflation #SupplyChain #Amazon

The episode starts off with some various stories out of China, including Pinduoduo founder Colin Huang losing billions as Chinese regulators crack down on domestic tech companies. Next, Alex looks at how the popular tech accelerator YCombinator has recently changed to incorporate larger batches of startups and a virtual based workflow. Also covered, Amazon bringing its cashierless "Just Walk Out" technology into Whole Foods and Goldman Sachs purchasing the buy now pay later company GreenSky.   00:00 - Subscribe and Fight Big Tech 00:19 - China Tech Crackdown Continues 04:34 - YCombinator's Shift 20:25 - Amazon's Black Swan? 25:59 - Why Did Goldman Sachs Buy This?   Originally Aired: 09/21/21 #YCombinator #China #Podcast

Alex opens the show with a detailed theory on how platforms and the gig-economy could be affecting the current labor shortage in the United States. He highlights a few key factors that draw correlations between tech platform disruptive innovation and the excess of job openings across the states. Next, a look at the Wall Street Journal's multiple exposé articles detailing several concerning leaks from Facebook. The show closes with commentary on the new iPhone 13 and Apple's lackluster innovation in the mobile space.   00:00 - Subscribe and Fight Big Tech 00:20 - Is Tech Contribution to Labor Shortage? 14:04 - Facebook Exposed on Multiple Fronts 20:37 - iPhone Snooze Fest   Originally Aired: 09/17/21 #Labor #Apple #Facebook

Alex starts the show with a look at data highlighting how private equity  firms have been investing in deals typical of  venture capital firms.  As a result, venture capital money has now been moving into earlier  stage investments than what we've typically seen over the past 5 years.  Next, a look at Coinbase and how its linear business model is being  adopting by more brokers as cryptocurrency continues to infiltrate the  mainstream. Also covered in this episode, TikTok's continued links to  China, hedge funds leaving China, and a look at new data released on  Amazon Business, Amazon's B2B arm. 00:00 - Subscribe for Tech & Business News Daily 00:45 - PE Crams Venture Capital 06:11 - Coinbase the New Netflix? 13:27 - Apple Court Case 23:08 - TikTok Still Linked to China 28:43 - Hedge Funds Take Money Out of China 37:40 - Amazon Business Data Originally Aired: 09/14/21 #AmazonBusiness #VentureCapital #Coinbase

We get started by looking at news that Reddit is hiring advisors to start the IPO process. Alex discusses a possible Reddit initial public offering and looks into some recent issues that arose between Reddit management and the platform's users. Next, a look at Vetcove, an under the radar B2B veterinarian supply company that's being sued by Chewy. Also covered, YouTube using a marquee strategy to bolster its YouTube Gaming platform and a new ruling in the ongoing case that Apple's app store is a monopoly. The show closes out with a look at Zoom Video's new Q2 2021 growth projections that analysts have found to be disappointing.   00:00 - Subscribe for Tech & Business News Daily 00:34 - Reddit IPO? 08:08 - Vetcove Lawsuit 18:38 - YouTube Gaming Signs Talent 21:22 - App Store Ruling 26:30 - Zoom Video Growth   Originally Aired: 09/03/21 #StockMarket #RedditIPO #YouTubeGaming

Alex kicks off the show with a look at PitchBook's new Greater China Venture Report. With a focus on the decline in first financings, he gives insight into why early stage venture investment is trending down. Next, details on China's new bans that will limit weekly video game time for minors and Uber's acquisition of transportation management software and logistics management outsourcing company Transplace. The show closes with a look at YouTube's massive revenue numbers and how much of that gets paid out to creators on the platform. Moazed compares YouTube's model to linear streaming companies like Netflix and touches on some competitors to YouTube that are embracing free speech and less aggressive moderation.   00:00 - Subscribe for Tech & Business News Daily 00:19 - Great China Venture Capital Report 10:05 - China Gaming Ban 16:11 - Uber Acquires Transplace 27:15 - Uber's Numbers Look Good! 33:42 - YouTube Pays Out $30B to Creators   Originally Aired: 08/31/21 #VentureCapital #China #UberFreight

Modern Monopolies co-author Nick Johnson hops on the episode to discuss OnlyFans backpedaling on its decision to ban explicit content. Also covered in this episode, investors selling off Alibaba stock amid the Chinese tech crackdown, Walmart's activities in India with Flipkart, and Discord's continued valuation growth after declining a $15 billion acquisition offer from Microsoft.   00:00 - Subscribe for Tech & Business News Daily 00:30 - OnlyFans Backpedals Ban 04:10 - Alibaba Investor Exodus 07:42 - Walmart's Flipkart Investment 13:05 - India Tech Regulation 18:44 - Walmart GoLocal Delivery Service 22:19 - Discord Valuation Rises   Originally Aired: 08/27/21 #Podcast #Tech #Business

Alex sits down with Randy Altschuler, the CEO and co-founder of Xometry. Xometry is a publicly traded on-demand industrial parts marketplace based in Derwood, Maryland. Xometry's platform connects customers like BMW, NASA, Bosch, Dell and General Electric with contract manufacturers, which are often small domestic machine shops. The two discuss the founding of Xometry, contraction of manufacturing in the United States, and how the team at Xometry plans to scale the platform with its growing customers.   00:00 - Subscribe for Tech & Business News Daily 00:41 - Founding Xometry 02:52 - Using AI to Price Custom Products 06:21 - Xometry GMV vs Revenue 07:51 - Xometry's $260 Billion Market 10:17 - Approach to Corporate Development 12:04 - Growth of 3D Printing 14:14 - How Xometry is Solving the Chicken and Egg Problem 16:01 - Solving Supply Chain Issues During COVID 19:24 - International Supply Chain Complications 22:52 - Xometry Impact Fund Initiatives 24:42 - What Will It Take to Bring Manfufacturing Back to the U.S.? 31:52 - Large Scale Production on Xometry 34:52 - Supporting Small U.S. Manufacturers 36:46 - Closing Remarks   Originally Aired: 08/27/21

The show opens with a look at the announcement that the platform OnlyFans will be banning explicit content, AKA the type of content the site is known for. Next, a look at China investing a fake Swiss scientist quoted in news media and Beijing gaining a board seat at tech company ByteDance. The second half of the show covers a Wall Street Journal report that Amazon will be opening brick and mortar department stores and the FTC recent opinion about Facebook's monopoly status.   00:00 - Subscribe for Tech & Business News Daily 00:19 - OnlyFans Bans NSFW 05:30 - Fake Swiss Biologist 07:41 - China on ByteDance Board 11:07 - Amazon Department Stores 19:25 - Facebook FTC Monopoly Lawsuit   Originally Aired: 08/20/21 #Amazon #Podcast #China

Alex opens up the show looking at Spotify's continued growth of its  podcasting platform and data that shows listener numbers on Spotify are  surpassing Apple. Next, Alex's reaction to Keith Rabois discussing China  on CNBC and a look at two stories concerning censorship, Apple's  announced scanning of photos on user's iPhones, and PayPal engaging in  financial deplatforming. Also covered in this episode, big tech joining  the five eyes, the rise of BRICS countries, and Cloudflare's complaints  about AWS. Originally Aired: 08/10/21 #iPhone #Privacy #Censorship

Eugene Volokh is founder and coauthor of The Volokh Conspiracy, a  leading legal blog. His law review articles have been cited by opinions  in eight Supreme Court cases and several hundred court opinions in  total, as well as several thousand scholarly articles. Eugene sits down  with Alex and Nick to discuss his recent article in the Journal of Free  Speech Law that looks at the pros and cons that could occur if the U.S.  were to treat social media platforms as common carriers. Companies  distinguished as common carriers are generally required to provide  service to the public without discrimination. 📗 READ 📗 SOCIAL MEDIA PLATFORMS AS COMMON CARRIERS?: https://www2.law.ucla.edu/volokh/carrier.pdf   Originally Aired: 08/12/21 #FreeSpeech #Interview #Podcast

Mike Matthys is co-founder of the 1st & 14th Institute, a  non-partisan champion for free speech, free press, and due process.  Matthys joins Alex on Winner Take All for a discussion on the current  landscape of online speech and what can be done to prevent censorship by  big tech arbiters like Facebook, Twitter, and Amazon. The two discuss  the 1st & 14th Institute's formation, past projects, and planned  future initiatives to ascertain a free and fair internet where all  voices are heard and decisions have the benefit of all views.   Learn more at https://www.firstandfourteenth.com/   Originally Aired: 08/09/21 #FreeSpeech #Censorship #OnlineSpeech

Alex opens the episode with a look at Netflix's recent earnings report where it was announced that a digital movie studio would move into the gaming space. Next, a look at Robinhood's tumultuous first two weeks as a public company and some promising data from alternative tech platforms focused on user privacy and free speech. The second half of the show covers Walmart's announcment it will begin to license the eCommerce tech that runs Walmart Marketplace and statistics that show a decline in VC investment into China.    00:00 - Subscribe for Tech & Business News Daily 00:56 - NFLX FY Q2 2201 Earnings 03:33 - Robinhood Goes Public! 09:41 - Alt Tech and Social Media 3.0 16:26 - Walmart to License eCommerce Tech 22:05 - VC Decline in China    Originally Aired: 08/04/21 #Podcast #VentureCapital #eCommerce

The episode starts off with a look at updated numbers from the various streaming service providers as the competitive landscape enters a new phase post COVID pandemic. Next, a look at an interesting Wall Street Journal article that details how Amazon will take equity from its suppliers. Also covered, Zipline, a startup that can deliver blood to doctors via drones, and Alex's thoughts on Gympass's recently announced series E funding round.   00:00 - Subscribe for Tech & Business News Daily 00:22 - Streaming Wars Update 05:22 - Amazon Supplier Equity 10:50 - Zipline On-Demand Blood Delivery 12:35 - Gympass vs ClassPass   Originally Aired: 07/10/21 #StreamingWars #Gympass #Amazon

The show kicks off with a look at CB Insights new State Of Venture Q2’21 Report, which details the runaway valuations of tech startups over the past year. On that thread, Alex looks at the recently IPOd platform, Xometry, and Nextdoor's plan to go public via SPAC. The second half of the show covers Etsy's next M&A move acquiring Elo7, regulatory concerns for Big Tech expanding through M&A, and Instcart's new CEO. Alex closes the episode with a message about the 4th of July.     00:00 - Subscribe for Tech & Business News Daily 00:18 - Asset Price Inflation 03:18 - IPO ASAP! 09:33 - M&A Landscape 13:56 - New Instacart CEO 17:30 - 4th of July Note   Originally Aired: 07/09/21 #CBInsights #Instacart #Xometry

Alex opens the show looking at the recent debacle surround Chinese ride sharing app DiDi's initial public offering. Investors saw $DIDI shares drop 20%+ after the Cyberspace Administration of China announced the app would be removed from app stores for illegally collect personal data. Next, a look at Shopify's announcement that they will waive fees on the first million dollars that developers make on their app store. Also covered, the slew of new suits and initiatives from various U.S. government agencies to reign in Big Tech and a recent article highlighting bias on Wikipedia.   00:00 - Subscribe for Tech & Business News Daily 00:35 - DiDi IPO 11:10 - Shopify App Developer Fees 16:05 - Antitrust Big Tech Battles 33:48 - Wikipedia Bias   Originally Aired: 07/08/21 #BigTech #DiDi #IPO

Alex kicks off the show looking at DuckDuckGo, an internet search engine that emphasizes protecting searchers' privacy and avoiding the filter bubble of personalized search results, and their recently announced $100m secondary investment. The episode also takes a look at claims that the COVID pandemic has accelerated the shift to eCommerce by 5 years, and Huawei's announcement that their mobile operating system, HarmonyOS, is now the #3 OS in the world. The show closes out with a look at Amazon's statement on its battle against fake reviews, Prime Day 2021, and Etsy acquiring peer-to-peer social shopping app Depop.   00:00 - Subscribe for Tech & Business News Daily 00:19 - DuckDuckGo $100mm Raise 05:45 - COVID eCommerce Acceleration 10:33 - Huawei HarmonyOS 15:55 - Amazon Reviews Probe 17:31 - Prime Day 2021 "Soft" 19:47 - Etsy Acquires Depop   Originally Aired: 06/25/21 #DuckDuckGo #Huawei #Depop

Applico CTO and former Munchery CEO, Tri Tran, joins the show to discuss  Instacart's playbook to build a $1 billion ad business and what this  revenue stream could mean for the delivery platform's highly anticipated  IPO. Tran discusses how he sees the online grocery and delivery  landscapes playing out over the next few years while highlighting some  of the challenges he thinks Instacart will have to overcome to