{"id":9602,"date":"2023-06-13T18:36:14","date_gmt":"2023-06-13T18:36:14","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/jason-scot-show-episode-306-apple-wwdc-announcement-generative-ai-and-holiday-first-look\/"},"modified":"2023-06-13T18:36:14","modified_gmt":"2023-06-13T18:36:14","slug":"jason-scot-show-episode-306-apple-wwdc-announcement-generative-ai-and-holiday-first-look","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/jason-scot-show-episode-306-apple-wwdc-announcement-generative-ai-and-holiday-first-look\/","title":{"rendered":"Jason &#038; Scot Show Episode 306 Apple WWDC announcement, Generative AI, and Holiday First Look"},"content":{"rendered":"<p> <p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/>\n<\/p>\n<div>\n<p>A weekly podcast with the latest e-commerce news and events. Episode 306 covers Apple\u2019s WWDC announcements, the latest news in Generative AI, and a first look at Holiday 2023.<\/p>\n<p> <span id=\"more-30490\"\/><\/p>\n<p><meta charset=\"utf-8\"\/><strong>Subscribe<\/strong>:<\/p>\n<figure><iframe loading=\"lazy\" style=\"border: none;\" src=\"http:\/\/html5-player.libsyn.com\/embed\/episode\/id\/27116046\/height\/360\/width\/640\/theme\/standard-mini\/autoplay\/no\/autonext\/no\/thumbnail\/yes\/preload\/no\/no_addthis\/no\/direction\/backward\/no-cache\/true\/\" width=\"640\" height=\"360\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">?<\/span><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">?<\/span><span style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">?<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">?<\/span><\/iframe><\/figure>\n<p>Apple previewed a new mixed reality headset called the Apple Vision Pro at it\u2019s Worldwide Developers Conference (WWDC) this month. Apple calls the new category spatial computing and we speculate about how it may or may not be a big deal.<\/p>\n<p>We also discuss the latest Echo hardware from Amazon, which is mostly disappointing.<\/p>\n<p>We discuss the rapidly evolving generative AI space and some of the commerce use-cases.<\/p>\n<p>And we take a first look at Holiday 2023.<\/p>\n<p><strong>Don\u2019t forget to like our\u00a0facebook page, and if you enjoyed this episode please write us a review on itunes.<\/strong><\/p>\n<p>Episode 306 of the Jason &amp; Scot show was recorded on Thursday, June 8th 2023<span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2 id=\"chapterT\" class=\"chapter\">Transcript<\/h2>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[0:23]<\/small>\u00a0<span title=\"0:23 - 0:38\" data-start=\"00:00:23.135\" data-end=\"00:00:37.941\" data-spk=\"0\" data-label=\"Jason\">Welcome to the Jason and Scot show this is episode 306 being recorded on Thursday June 8 2023 I\u2019m your host Jason retailgeek Goldberg and as usual I\u2019m here with your co-host Scot Wingo.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[0:38]<\/small>\u00a0<span title=\"0:38 - 0:43\" data-start=\"00:00:37.930\" data-end=\"00:00:43.079\" data-spk=\"1\" data-label=\"Scot\">Hey Jason and welcome back Jason Scott show listeners\u00a0<\/span><span title=\"0:43 - 0:57\" data-start=\"00:00:42.929\" data-end=\"00:00:56.948\" data-spk=\"1\" data-label=\"Scot\">well it\u2019s been about a month our weekly pot has become a monthly cut pod because our lives have gotten pretty busy here in this postcode world I know you\u2019ve been traveling a lot what else is new with you.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[0:57]<\/small>\u00a0<span title=\"0:57 - 1:03\" data-start=\"00:00:57.099\" data-end=\"00:01:03.186\" data-spk=\"0\" data-label=\"Jason\">Yeah yeah it\u2019s finally feels like summer which I\u2019m very grateful for,\u00a0<\/span><span title=\"1:03 - 1:14\" data-start=\"00:01:03.198\" data-end=\"00:01:14.146\" data-spk=\"0\" data-label=\"Jason\">a lot of interesting stuff going on in the world of Commerce that keeps me engaged but I feel like the main reason our podcast is slow down is because you are an entrepreneurial mogul.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[1:15]<\/small>\u00a0<span title=\"1:15 - 1:24\" data-start=\"00:01:14.627\" data-end=\"00:01:24.103\" data-spk=\"1\" data-label=\"Scot\">I don\u2019t know about mobile but I\u2019ll take the entrepreneur piece yeah the day job is a occupying 100 or 99 point,\u00a0<\/span><span title=\"1:24 - 1:29\" data-start=\"00:01:24.140\" data-end=\"00:01:29.421\" data-spk=\"1\" data-label=\"Scot\">eight percent of my time and I used to be able to use speed like 97 and I could squeeze in more time so I\u00a0<\/span><span title=\"1:29 - 1:35\" data-start=\"00:01:29.307\" data-end=\"00:01:35.166\" data-spk=\"1\" data-label=\"Scot\">podcast start button but got a there\u2019s a lot of cars out there to take care of and we\u2019re doing our best to get to all of them.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[1:35]<\/small>\u00a0<span title=\"1:35 - 1:43\" data-start=\"00:01:35.232\" data-end=\"00:01:43.488\" data-spk=\"0\" data-label=\"Jason\">And we are grateful for it I feel like I\u2019m I\u2019m going back in time about six months because we\u2019ve been on such a leg but I feel remiss.<\/span><br \/><span title=\"1:44 - 1:54\" data-start=\"00:01:44.078\" data-end=\"00:01:54.142\" data-spk=\"0\" data-label=\"Jason\">There was a huge accomplishment like six months ago you were named one of the founding members of the.<\/span><br \/><span title=\"1:54 - 1:57\" data-start=\"00:01:54.335\" data-end=\"00:01:57.273\" data-spk=\"0\" data-label=\"Jason\">Marketplace Hall of Fame.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[1:57]<\/small>\u00a0<span title=\"1:57 - 2:01\" data-start=\"00:01:57.418\" data-end=\"00:02:00.680\" data-spk=\"1\" data-label=\"Scot\">I saw that yeah yeah.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[2:01]<\/small>\u00a0<span title=\"2:01 - 2:09\" data-start=\"00:02:00.621\" data-end=\"00:02:08.672\" data-spk=\"0\" data-label=\"Jason\">Here\u2019s the thing I\u2019m going to say about that I didn\u2019t know that much about it and I don\u2019t think anyone would be surprised to hear you\u2019re a founding member but like.<\/span><br \/><span title=\"2:09 - 2:16\" data-start=\"00:02:08.895\" data-end=\"00:02:15.991\" data-spk=\"0\" data-label=\"Jason\">Don\u2019t like five names and it was like Jeff Bezos Mar Quarry.<\/span><br \/><span title=\"2:16 - 2:25\" data-start=\"00:02:16.178\" data-end=\"00:02:24.554\" data-spk=\"0\" data-label=\"Jason\">And you and Jack Ma I\u2019m like I\u2019m like man you are going to be the best looking dude on that Mount Rushmore.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[2:24]<\/small>\u00a0<span title=\"2:24 - 2:38\" data-start=\"00:02:24.387\" data-end=\"00:02:38.435\" data-spk=\"1\" data-label=\"Scot\">Yeah usually I\u2019m I\u2019m kind of Groucho Marx not sure I want to be in the club but this is one I was very happy to be being is like me and like three or four other billionaires all I\u2019ll take I\u2019ll take being included in that group.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[2:39]<\/small>\u00a0<span title=\"2:39 - 2:42\" data-start=\"00:02:38.772\" data-end=\"00:02:42.179\" data-spk=\"0\" data-label=\"Jason\">Yeah yeah you don\u2019t want to be the fanciest house on the Block so.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[2:42]<\/small>\u00a0<span title=\"2:42 - 2:48\" data-start=\"00:02:42.384\" data-end=\"00:02:47.743\" data-spk=\"1\" data-label=\"Scot\">Yeah I got a yeah I\u2019m I\u2019m excited I\u2019m punching way above my weight on that list for sure.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[2:48]<\/small>\u00a0<span title=\"2:48 - 2:59\" data-start=\"00:02:47.606\" data-end=\"00:02:58.500\" data-spk=\"0\" data-label=\"Jason\">Yeah well so anyway congratulations on that for sure I know and westerners would appreciate it and then while I\u2019m thrilled for summer I\u2019ve been a little down about one bit of news.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[3:00]<\/small>\u00a0<span title=\"3:00 - 3:01\" data-start=\"00:02:59.612\" data-end=\"00:03:01.114\" data-spk=\"1\" data-label=\"Scot\">What is it Jason.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[3:01]<\/small>\u00a0<span title=\"3:01 - 3:08\" data-start=\"00:03:01.126\" data-end=\"00:03:08.246\" data-spk=\"0\" data-label=\"Jason\">Disney click closed the Star Wars Hotel before you and I got to go there.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[3:08]<\/small>\u00a0<span title=\"3:08 - 3:23\" data-start=\"00:03:08.259\" data-end=\"00:03:22.848\" data-spk=\"1\" data-label=\"Scot\">Yeah I know we could have done a live stream when this thing was announced I was excited and then I saw the price and then I saw the promo video and then I saw the reviews and you could just tell they had totally the totally whiffed on the whole thing it was.<\/span><br \/><span title=\"3:23 - 3:31\" data-start=\"00:03:23.161\" data-end=\"00:03:31.459\" data-spk=\"1\" data-label=\"Scot\">It was it wasn\u2019t just kind of a hotel you stayed at you had to just do that thing alone you didn\u2019t have to but it was so expensive.<\/span><br \/><span title=\"3:32 - 3:38\" data-start=\"00:03:32.247\" data-end=\"00:03:38.268\" data-spk=\"1\" data-label=\"Scot\">You\u2019re paying like two or three thousand dollars a night which I don\u2019t know this gonna be some.<\/span><br \/><span title=\"3:39 - 3:43\" data-start=\"00:03:38.683\" data-end=\"00:03:42.901\" data-spk=\"1\" data-label=\"Scot\">Someone in California makes these decisions I guess I don\u2019t understand the\u00a0<\/span><span title=\"3:43 - 3:50\" data-start=\"00:03:42.823\" data-end=\"00:03:49.985\" data-spk=\"1\" data-label=\"Scot\">the tolls of the everyday American or even the higher in Star Wars hand that\u2019s a that\u2019s a big ask and\u00a0<\/span><span title=\"3:50 - 4:05\" data-start=\"00:03:49.884\" data-end=\"00:04:05.344\" data-spk=\"1\" data-label=\"Scot\">you know I\u2019m not in the cosplay so I think they had this if we kind of put on our marketing hats they had death by a Thousand Cuts so you had to be a Star Wars fan number one number two you had to be willing to spend 5K on this fancy hotel experience number three had to be in the cause playing\u00a0<\/span><span title=\"4:05 - 4:11\" data-start=\"00:04:05.177\" data-end=\"00:04:11.311\" data-spk=\"1\" data-label=\"Scot\">and then number for the experiences that people that try to gave it you know at best a.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[4:11]<\/small>\u00a0<span title=\"4:11 - 4:12\" data-start=\"00:04:11.011\" data-end=\"00:04:12.135\" data-spk=\"0\" data-label=\"Jason\">Yeah mediocre.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[4:12]<\/small>\u00a0<span title=\"4:12 - 4:26\" data-start=\"00:04:11.835\" data-end=\"00:04:26.184\" data-spk=\"1\" data-label=\"Scot\">Yeah it felt very Star Trek e which is definitely a problem for Star Wars fans and you know it had a lot of kind of fun Spacey kind of vibe but like not enough Star Wars so yeah but you know.<\/span><br \/><span title=\"4:27 - 4:37\" data-start=\"00:04:26.785\" data-end=\"00:04:36.658\" data-spk=\"1\" data-label=\"Scot\">I\u2019ll say kudos to them for trying but it was an expensive mistake and I\u2019m sure they can repurpose the real estate it\u2019s not like they\u2019re gonna I\u2019m not shedding a tear.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[4:36]<\/small>\u00a0<span title=\"4:36 - 4:38\" data-start=\"00:04:36.358\" data-end=\"00:04:38.172\" data-spk=\"0\" data-label=\"Jason\">Real estate has been depreciated I\u2019m sure.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[4:38]<\/small>\u00a0<span title=\"4:38 - 4:43\" data-start=\"00:04:37.872\" data-end=\"00:04:43.087\" data-spk=\"1\" data-label=\"Scot\">I think they\u2019ll be okay but yeah you know it is bummer because I was kind of hoping it would work,\u00a0<\/span><span title=\"4:43 - 4:50\" data-start=\"00:04:43.268\" data-end=\"00:04:50.394\" data-spk=\"1\" data-label=\"Scot\">I\u2019ve done some other Star Wars experience you\u2019ll stuff that was really fun there was there\u2019s this group in the UK\u00a0<\/span><span title=\"4:50 - 4:54\" data-start=\"00:04:50.299\" data-end=\"00:04:54.162\" data-spk=\"1\" data-label=\"Scot\">and they go create movie scenes and industrial areas it\u2019s really weird\u00a0<\/span><span title=\"4:54 - 5:06\" data-start=\"00:04:54.018\" data-end=\"00:05:06.319\" data-spk=\"1\" data-label=\"Scot\">the way it\u2019s described is called like underground movies or something like that they did a Star Wars experience that was like amazing where they had a Cantina I guess galaxies Edge is kind of like yeah.<\/span><br \/><span title=\"5:07 - 5:11\" data-start=\"00:05:06.686\" data-end=\"00:05:11.162\" data-spk=\"1\" data-label=\"Scot\">As when I mean I haven\u2019t been yet but I\u2019m actually going to go this summer so I\u2019m excited about that all.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[5:11]<\/small>\u00a0<span title=\"5:11 - 5:12\" data-start=\"00:05:11.084\" data-end=\"00:05:12.352\" data-spk=\"0\" data-label=\"Jason\">Yeah it\u2019s really good you should.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[5:12]<\/small>\u00a0<span title=\"5:12 - 5:16\" data-start=\"00:05:12.286\" data-end=\"00:05:15.669\" data-spk=\"1\" data-label=\"Scot\">Yeah everyone says it\u2019s good so that\u2019s on my list.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[5:15]<\/small>\u00a0<span title=\"5:15 - 5:21\" data-start=\"00:05:15.477\" data-end=\"00:05:20.836\" data-spk=\"0\" data-label=\"Jason\">Yeah I\u2019m in the same boat like it I don\u2019t feel like I\u2019m disappointed that I missed it because I feel like.<\/span><br \/><span title=\"5:21 - 5:26\" data-start=\"00:05:21.197\" data-end=\"00:05:26.431\" data-spk=\"0\" data-label=\"Jason\">It sounds poorly executed in poorly conceived but the high-level concept of a.<\/span><br \/><span title=\"5:27 - 5:36\" data-start=\"00:05:26.714\" data-end=\"00:05:36.346\" data-spk=\"0\" data-label=\"Jason\">Experiential Star Wars Hotel experience I was super excited about and I hope the fact that this does didn\u2019t work isn\u2019t going.<\/span><br \/><span title=\"5:37 - 5:43\" data-start=\"00:05:37.109\" data-end=\"00:05:43.370\" data-spk=\"0\" data-label=\"Jason\">Like slow down future future ideas on that space because it could have been cool if they did it really well.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[5:44]<\/small>\u00a0<span title=\"5:44 - 5:47\" data-start=\"00:05:43.906\" data-end=\"00:05:46.940\" data-spk=\"1\" data-label=\"Scot\">Yeah yeah I don\u2019t put salt down.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[5:47]<\/small>\u00a0<span title=\"5:47 - 5:50\" data-start=\"00:05:47.036\" data-end=\"00:05:50.455\" data-spk=\"0\" data-label=\"Jason\">Onto something more reliable Apple announcements.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[5:51]<\/small>\u00a0<span title=\"5:51 - 5:56\" data-start=\"00:05:50.792\" data-end=\"00:05:56.242\" data-spk=\"1\" data-label=\"Scot\">Yeah this was exciting so I\u2019d love to get your take on the Apple Vision Pro\u00a0<\/span><span title=\"5:56 - 6:03\" data-start=\"00:05:56.212\" data-end=\"00:06:02.714\" data-spk=\"1\" data-label=\"Scot\">so first of all the the earlier announcements I was kind of like I was getting a little concerned because they\u2019re like you know\u00a0<\/span><span title=\"6:03 - 6:08\" data-start=\"00:06:02.654\" data-end=\"00:06:07.990\" data-spk=\"1\" data-label=\"Scot\">coming up the biggest new feature in Mac OS is a really\u00a0<\/span><span title=\"6:08 - 6:14\" data-start=\"00:06:07.852\" data-end=\"00:06:13.800\" data-spk=\"1\" data-label=\"Scot\">cool screen saver and then the phone had a new sleep display mode I\u2019m like,\u00a0<\/span><span title=\"6:14 - 6:23\" data-start=\"00:06:13.891\" data-end=\"00:06:22.712\" data-spk=\"1\" data-label=\"Scot\">we\u2019ve kind of jumped the shark if this is the big new OS features there were some other ones and I\u2019m being a little bit facetious but there were there were to say there were minor tweaks which is kind of a\u00a0<\/span><span title=\"6:23 - 6:24\" data-start=\"00:06:22.670\" data-end=\"00:06:24.232\" data-spk=\"1\" data-label=\"Scot\">Fair assessment I think.<\/span><\/p>\n<p><small>[6:24]<\/small>\u00a0<span title=\"6:24 - 6:35\" data-start=\"00:06:24.407\" data-end=\"00:06:35.241\" data-spk=\"1\" data-label=\"Scot\">And then they finally gave us that one more thing that we\u2019ve been waiting for and I went and our crack staff of interns went into the Jason and Scot show vault\u00a0<\/span><span title=\"6:35 - 6:45\" data-start=\"00:06:35.085\" data-end=\"00:06:45.222\" data-spk=\"1\" data-label=\"Scot\">and you and I and 2016 gave a talk at an in our F \/ shop dot-org event where we were asked to talk about the future of retail\u00a0<\/span><span title=\"6:45 - 6:54\" data-start=\"00:06:45.084\" data-end=\"00:06:53.598\" data-spk=\"1\" data-label=\"Scot\">and in there I remember I pulled up the presentation we talked about drones and 3D printing and then we talk about a rvr\u00a0<\/span><span title=\"6:53 - 7:00\" data-start=\"00:06:53.401\" data-end=\"00:06:59.535\" data-spk=\"1\" data-label=\"Scot\">and at that point in time Facebook they\u2019re used to this company called Facebook\u00a0<\/span><span title=\"6:59 - 7:08\" data-start=\"00:06:59.434\" data-end=\"00:07:08.399\" data-spk=\"1\" data-label=\"Scot\">now you may know them as meta they they had just acquired Oculus and we were speculating would Apple enter the game and\u00a0<\/span><span title=\"7:08 - 7:18\" data-start=\"00:07:08.249\" data-end=\"00:07:17.755\" data-spk=\"1\" data-label=\"Scot\">turns out we were right but like many of our predictions we were maybe a little early if I\u2019ve done the math on this right we were about seven years ahead,\u00a0<\/span><span title=\"7:18 - 7:25\" data-start=\"00:07:17.815\" data-end=\"00:07:24.840\" data-spk=\"1\" data-label=\"Scot\">but I think the wait has been worth it because they definitely swung for the fences on this one and you know the\u00a0<\/span><span title=\"7:25 - 7:37\" data-start=\"00:07:24.660\" data-end=\"00:07:36.936\" data-spk=\"1\" data-label=\"Scot\">the feature sets and the user interface no one none of us have experience to have read the reviews of folks that have sounds like it I can\u2019t wait to get my hands on one and I\u2019m definitely ordering one so excited to hear what you think.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[7:37]<\/small>\u00a0<span title=\"7:37 - 7:51\" data-start=\"00:07:37.279\" data-end=\"00:07:50.835\" data-spk=\"0\" data-label=\"Jason\">Yeah yeah so maybe half a step back Apple tends to do two big events a year they and they do as software announcement and they do a hardware announcement this is normally the software announcement where they detail all the.<\/span><br \/><span title=\"7:51 - 7:57\" data-start=\"00:07:51.130\" data-end=\"00:07:56.784\" data-spk=\"0\" data-label=\"Jason\">New releases of the various operating systems for all the devices and they do sometimes,\u00a0<\/span><span title=\"7:57 - 8:06\" data-start=\"00:07:56.832\" data-end=\"00:08:06.266\" data-spk=\"0\" data-label=\"Jason\">launch devices at this which they did again they launched a number of new configurations of Max and then in like September they announced.<\/span><br \/><span title=\"8:07 - 8:12\" data-start=\"00:08:06.531\" data-end=\"00:08:11.608\" data-spk=\"0\" data-label=\"Jason\">The hardware which is up you know generally includes a new phone for October.<\/span><br \/><span title=\"8:12 - 8:27\" data-start=\"00:08:12.029\" data-end=\"00:08:26.967\" data-spk=\"0\" data-label=\"Jason\">So you don\u2019t necessarily expect a huge new hardware product at this announcement and I was I was kind of with you most of the OS and announcements were very incremental the new.<\/span><br \/><span title=\"8:27 - 8:34\" data-start=\"00:08:27.400\" data-end=\"00:08:34.328\" data-spk=\"0\" data-label=\"Jason\">Computers were all like like very very incremental there is like.<\/span><\/p>\n<p><small>[8:35]<\/small>\u00a0<span title=\"8:35 - 8:39\" data-start=\"00:08:34.822\" data-end=\"00:08:38.667\" data-spk=\"0\" data-label=\"Jason\">The new 15-inch the the MacBook Air is now a 15 inch.<\/span><br \/><span title=\"8:39 - 8:45\" data-start=\"00:08:38.926\" data-end=\"00:08:45.427\" data-spk=\"0\" data-label=\"Jason\">So that\u2019s maybe going to be an appealing laptop for people that want to pretty powerful laptop that\u2019s super light.<\/span><br \/><span title=\"8:46 - 8:57\" data-start=\"00:08:45.902\" data-end=\"00:08:56.935\" data-spk=\"0\" data-label=\"Jason\">But I will say there\u2019s a number of small enhancements in the OS has that I\u2019m looking forward to like they their incremental but they did you know call out a number of sort of pain points where like.<\/span><br \/><span title=\"8:57 - 9:03\" data-start=\"00:08:57.157\" data-end=\"00:09:02.607\" data-spk=\"0\" data-label=\"Jason\">The autocorrect on the keyboard can often be very annoying and they\u2019re going to use a large language model too.<\/span><br \/><span title=\"9:03 - 9:07\" data-start=\"00:09:02.836\" data-end=\"00:09:07.168\" data-spk=\"0\" data-label=\"Jason\">Um what you keep your curse words and proprietary language a lot easier and,\u00a0<\/span><span title=\"9:07 - 9:20\" data-start=\"00:09:07.265\" data-end=\"00:09:19.619\" data-spk=\"0\" data-label=\"Jason\">a few little bits like that and then yeah to your point like at the end they go and one more thing and as I assume most of our listeners know that\u2019s magic language at Apple,\u00a0<\/span><span title=\"9:20 - 9:32\" data-start=\"00:09:19.751\" data-end=\"00:09:32.454\" data-spk=\"0\" data-label=\"Jason\">that\u2019s that\u2019s the language Steve Jobs used before he pulled the first iPhone out of his jeans pocket or the first MacBook Air out of the manila envelope\u00a0<\/span><span title=\"9:32 - 9:41\" data-start=\"00:09:32.389\" data-end=\"00:09:40.729\" data-spk=\"0\" data-label=\"Jason\">and you know that language has been used to introduce a lot of apples game-changing products and it frankly hasn\u2019t been used very much.<\/span><br \/><span title=\"9:41 - 9:50\" data-start=\"00:09:40.951\" data-end=\"00:09:50.097\" data-spk=\"0\" data-label=\"Jason\">In the in the modern era so the mere fact that they started the innocent reduction with an one more thing tells you that Apple thinks this is a.<\/span><br \/><span title=\"9:51 - 9:54\" data-start=\"00:09:50.650\" data-end=\"00:09:54.465\" data-spk=\"0\" data-label=\"Jason\">In extra big deal and.<\/span><br \/><span title=\"9:55 - 10:02\" data-start=\"00:09:54.724\" data-end=\"00:10:02.139\" data-spk=\"0\" data-label=\"Jason\">I\u2019m with you like I will I\u2019m embarrassed to say somewhere in some ways I will probably buy one I think there\u2019s a bunch of.<\/span><\/p>\n<p><small>[10:03]<\/small>\u00a0<span title=\"10:03 - 10:09\" data-start=\"00:10:02.770\" data-end=\"00:10:08.545\" data-spk=\"0\" data-label=\"Jason\">Cool things about it like the the hardware achievement is is pretty impressive so this is a.<\/span><br \/><span title=\"10:09 - 10:22\" data-start=\"00:10:08.984\" data-end=\"00:10:22.329\" data-spk=\"0\" data-label=\"Jason\">They would be pissed at me describing it this way they invented a new term they call this spatial Computing but it\u2019s a it\u2019s an AR VR headset and it kind of looks like ski goggles.<\/span><br \/><span title=\"10:23 - 10:38\" data-start=\"00:10:22.630\" data-end=\"00:10:37.550\" data-spk=\"0\" data-label=\"Jason\">And you know a lot of people had predicted this and their renderings that weren\u2019t too far off but the hardware is beautiful as you would expect from Apple it has a bunch of Premium finishes it is not an accessory that talks to a computer a phone it\u2019s a.<\/span><br \/><span title=\"10:38 - 10:44\" data-start=\"00:10:37.743\" data-end=\"00:10:43.523\" data-spk=\"0\" data-label=\"Jason\">Computer that you wear in your face and in fact I think it has to M2 chips in it.<\/span><br \/><span title=\"10:44 - 10:55\" data-start=\"00:10:43.782\" data-end=\"00:10:54.959\" data-spk=\"0\" data-label=\"Jason\">And in the specs are really high each eye has more than a 4K screen so very high resolution VR headset and the latency,\u00a0<\/span><span title=\"10:55 - 11:05\" data-start=\"00:10:55.097\" data-end=\"00:11:04.778\" data-spk=\"0\" data-label=\"Jason\">it has this Mode called pass-through mode which means there\u2019s cameras in front of it and it can feel like a transparent visor because.<\/span><br \/><span title=\"11:05 - 11:20\" data-start=\"00:11:05.042\" data-end=\"00:11:19.608\" data-spk=\"0\" data-label=\"Jason\">The the cameras see outside and then you know project that onto these two 4K screen so it makes it feel like you\u2019re seeing through the visor and it\u2019s in full color at 4K with less than 12 millisecond latency which is.<\/span><\/p>\n<p><small>[11:20]<\/small>\u00a0<span title=\"11:20 - 11:27\" data-start=\"00:11:19.897\" data-end=\"00:11:27.474\" data-spk=\"0\" data-label=\"Jason\">Other VR headsets have a pass-through mode like the Oculus has a black-and-white pass-through mode but the latency is.<\/span><br \/><span title=\"11:28 - 11:35\" data-start=\"00:11:27.757\" data-end=\"00:11:34.601\" data-spk=\"0\" data-label=\"Jason\">As much there\u2019s a lot more lag and so that creates like all these like motion artifacts and stuff.<\/span><br \/><span title=\"11:35 - 11:42\" data-start=\"00:11:34.787\" data-end=\"00:11:41.511\" data-spk=\"0\" data-label=\"Jason\">That this is all very premium high-end Hardware which seems,\u00a0<\/span><span title=\"11:42 - 11:51\" data-start=\"00:11:41.686\" data-end=\"00:11:51.198\" data-spk=\"0\" data-label=\"Jason\">pretty cool and so the experiences seem cool everyone I\u2019ve read you know just got to actually try it thanks though I.<\/span><br \/><span title=\"11:51 - 11:57\" data-start=\"00:11:51.396\" data-end=\"00:11:56.678\" data-spk=\"0\" data-label=\"Jason\">On your face experience was vastly better than any other a rvr.<\/span><br \/><span title=\"11:57 - 12:08\" data-start=\"00:11:57.117\" data-end=\"00:12:07.656\" data-spk=\"0\" data-label=\"Jason\">They had experienced and then they also you know brought in Bob Iger from Disney and who announced that they were doing a bunch of proprietary content for the platform which is a.<\/span><br \/><span title=\"12:08 - 12:12\" data-start=\"00:12:07.891\" data-end=\"00:12:11.526\" data-spk=\"0\" data-label=\"Jason\">Another exciting thing right because the these headsets are only as good as the.<\/span><br \/><span title=\"12:12 - 12:23\" data-start=\"00:12:12.092\" data-end=\"00:12:23.070\" data-spk=\"0\" data-label=\"Jason\">The content you have for them so all that to me was super favorable the things that they\u2019re rightly getting knocked on is you just talked about the price of the Disney hotel being unrealistic\u00a0<\/span><span title=\"12:23 - 12:32\" data-start=\"00:12:22.926\" data-end=\"00:12:31.633\" data-spk=\"0\" data-label=\"Jason\">they didn\u2019t really even mention the price in this announcement but they released it afterwards and it\u2019s the base price is going to be over 3500 bucks\u00a0<\/span><span title=\"12:32 - 12:38\" data-start=\"00:12:31.507\" data-end=\"00:12:37.774\" data-spk=\"0\" data-label=\"Jason\">and if you\u2019re blind like I am you\u2019re going to have to then buy some prescriptions Iceland\u2019s is that screw into it.<\/span><br \/><span title=\"12:38 - 12:42\" data-start=\"00:12:37.979\" data-end=\"00:12:42.413\" data-spk=\"0\" data-label=\"Jason\">And so it\u2019s an expensive device.<\/span><\/p>\n<p><small>[12:43]<\/small>\u00a0<span title=\"12:43 - 12:56\" data-start=\"00:12:42.942\" data-end=\"00:12:56.156\" data-spk=\"0\" data-label=\"Jason\">It also has kind of mirror battery life like the there\u2019s a small battery on the device but in order to get a two-hour battery they make you put a battery pack the size of an iPhone in your pocket and connect it via a cable,\u00a0<\/span><span title=\"12:56 - 13:05\" data-start=\"00:12:56.318\" data-end=\"00:13:04.911\" data-spk=\"0\" data-label=\"Jason\">to the headset and that gets you two hours which frankly isn\u2019t even enough time to watch a lot of movies that are out these days.<\/span><br \/><span title=\"13:05 - 13:09\" data-start=\"00:13:05.128\" data-end=\"00:13:08.582\" data-spk=\"0\" data-label=\"Jason\">People have talked a lot about it being really heavy.<\/span><br \/><span title=\"13:09 - 13:21\" data-start=\"00:13:08.769\" data-end=\"00:13:21.370\" data-spk=\"0\" data-label=\"Jason\">On your face because of all this like you know metal hardware and premium materials that it feels pretty pretty meaningful on your face and then the biggest weird thing to me.<\/span><br \/><span title=\"13:22 - 13:28\" data-start=\"00:13:21.677\" data-end=\"00:13:27.926\" data-spk=\"0\" data-label=\"Jason\">In the announcement they made multiple they took multiple occasions to talk about.<\/span><\/p>\n<p><small>[13:28]<\/small>\u00a0<span title=\"13:28 - 13:37\" data-start=\"00:13:28.341\" data-end=\"00:13:37.144\" data-spk=\"0\" data-label=\"Jason\">How important what they called presences right so they talked like there\u2019s a lot of new features and all the OSS around FaceTime.<\/span><br \/><span title=\"13:37 - 13:44\" data-start=\"00:13:37.360\" data-end=\"00:13:43.772\" data-spk=\"0\" data-label=\"Jason\">And making it a more useful meeting thing and and all of those features were around making you feel like you were.<\/span><br \/><span title=\"13:44 - 13:50\" data-start=\"00:13:44.030\" data-end=\"00:13:49.570\" data-spk=\"0\" data-label=\"Jason\">More together with the people you are FaceTiming with and when they first show this,\u00a0<\/span><span title=\"13:50 - 14:00\" data-start=\"00:13:49.589\" data-end=\"00:13:59.732\" data-spk=\"0\" data-label=\"Jason\">this apple Vision Pro experience the first thing they show is video conferencing with other real people and how their faces are floating right in front of you and it you know it\u2019s this great presence experience.<\/span><br \/><span title=\"14:00 - 14:02\" data-start=\"00:14:00.087\" data-end=\"00:14:02.322\" data-spk=\"0\" data-label=\"Jason\">Except for anyone wearing.<\/span><br \/><span title=\"14:03 - 14:11\" data-start=\"00:14:02.544\" data-end=\"00:14:11.005\" data-spk=\"0\" data-label=\"Jason\">This bloody device because guess what you don\u2019t get is a picture of the person wearing the device wait what what you get is a.<\/span><br \/><span title=\"14:11 - 14:17\" data-start=\"00:14:11.342\" data-end=\"00:14:16.719\" data-spk=\"0\" data-label=\"Jason\">Uncanny valley like semi-realistic Avatar of the person.<\/span><\/p>\n<p><small>[14:18]<\/small>\u00a0<span title=\"14:18 - 14:24\" data-start=\"00:14:17.585\" data-end=\"00:14:24.092\" data-spk=\"0\" data-label=\"Jason\">And it just feels like very incongruity us that they\u2019re both saying presents a super important and then they\u2019re partitioning,\u00a0<\/span><span title=\"14:24 - 14:37\" data-start=\"00:14:24.159\" data-end=\"00:14:37.132\" data-spk=\"0\" data-label=\"Jason\">anyone wearing this device sort of away from real people and so I that to me is worrisome I got to be honest when I add up all the pros and the cons it feels like people like you and I will buy it,\u00a0<\/span><span title=\"14:37 - 14:43\" data-start=\"00:14:37.247\" data-end=\"00:14:43.243\" data-spk=\"0\" data-label=\"Jason\">but I kind of suspect that this is going to be more like an apple Lisa than the first Macintosh.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[14:44]<\/small>\u00a0<span title=\"14:44 - 14:50\" data-start=\"00:14:44.115\" data-end=\"00:14:50.400\" data-spk=\"1\" data-label=\"Scot\">It you know but you gotta start somewhere and this is by setting the goalposts hi it\u2019s easier to go down than up\u00a0<\/span><span title=\"14:50 - 15:00\" data-start=\"00:14:50.208\" data-end=\"00:15:00.165\" data-spk=\"1\" data-label=\"Scot\">so you know I can imagine several iterations and maybe it\u2019ll take another seven years but at some point I think they\u2019ll solve all those things and they\u2019ll get the cost way down but.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[15:00]<\/small>\u00a0<span title=\"15:00 - 15:12\" data-start=\"00:15:00.316\" data-end=\"00:15:11.967\" data-spk=\"0\" data-label=\"Jason\">100% if you look at this as like the entree into a new form of computing I\u2019m totally with you right and and I get I wish I owned one of the a police\u2019s\u00a0<\/span><span title=\"15:12 - 15:18\" data-start=\"00:15:11.829\" data-end=\"00:15:17.964\" data-spk=\"0\" data-label=\"Jason\">but and it did pave the way for the Macintosh so so I\u2019m all down for it I don\u2019t think,\u00a0<\/span><span title=\"15:18 - 15:24\" data-start=\"00:15:18.120\" data-end=\"00:15:23.606\" data-spk=\"0\" data-label=\"Jason\">if you\u2019re a retailer at home and you\u2019re going like hey do I have to invent some new Commerce experience for the.<\/span><br \/><span title=\"15:24 - 15:33\" data-start=\"00:15:23.859\" data-end=\"00:15:33.269\" data-spk=\"0\" data-label=\"Jason\">For the Apple Vision Pro like the answer is no right like and what like unless maybe your Louis Vuitton and you want to get a good press release about being a first mover\u00a0<\/span><span title=\"15:33 - 15:41\" data-start=\"00:15:33.215\" data-end=\"00:15:41.441\" data-spk=\"0\" data-label=\"Jason\">you know it\u2019s unlikely that there\u2019s going to be 100 million people sitting in their house wearing this thing on their face all day and wanting to shop on it.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[15:42]<\/small>\u00a0<span title=\"15:42 - 15:49\" data-start=\"00:15:41.616\" data-end=\"00:15:49.109\" data-spk=\"1\" data-label=\"Scot\">Yeah I saw so to last comments on this one I saw One reviewer who\u2019s really into a rvr\u00a0<\/span><span title=\"15:49 - 16:03\" data-start=\"00:15:48.995\" data-end=\"00:16:02.888\" data-spk=\"1\" data-label=\"Scot\">and it was interesting framing he basically said Facebook is going down this path of VR is a social experience and you\u2019re using it for meetings and for meeting people which aligns since their social network right and that\u2019s part of their DNA\u00a0<\/span><span title=\"16:03 - 16:19\" data-start=\"00:16:02.690\" data-end=\"00:16:18.757\" data-spk=\"1\" data-label=\"Scot\">where\u2019s apples kind of more saying we\u2019re heading into a world where we\u2019re more alone and you\u2019ll you know your increasingly you\u2019ll be working for home alone and remote and your you\u2019ll you know you\u2019ll be interacting with your family with this mask on it\u2019s kind of a\u00a0<\/span><span title=\"16:19 - 16:25\" data-start=\"00:16:18.530\" data-end=\"00:16:25.404\" data-spk=\"1\" data-label=\"Scot\">I don\u2019t buy this framing but it\u2019s kind of an interesting you know the way it\u2019s set up today is very different view of things\u00a0<\/span><span title=\"16:25 - 16:38\" data-start=\"00:16:25.206\" data-end=\"00:16:37.914\" data-spk=\"1\" data-label=\"Scot\">and then you know then the conclusion was you know for society I hope it\u2019s the Facebook silly should be good or else we\u2019re all going to be ready player one like sitting in little tiny you know compartments never interacting with each other at a human level and.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[16:38]<\/small>\u00a0<span title=\"16:38 - 16:47\" data-start=\"00:16:38.089\" data-end=\"00:16:47.475\" data-spk=\"0\" data-label=\"Jason\">Yeah no I agree and then ironically like apples Imaging everyone sitting at home except for Apple employees who will get fired and they said.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[16:46]<\/small>\u00a0<span title=\"16:46 - 16:48\" data-start=\"00:16:46.400\" data-end=\"00:16:48.004\" data-spk=\"1\" data-label=\"Scot\">Yeah.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[16:48]<\/small>\u00a0<span title=\"16:48 - 17:00\" data-start=\"00:16:47.854\" data-end=\"00:16:59.673\" data-spk=\"0\" data-label=\"Jason\">Yeah another framing I heard which makes some sense is like they talked about meta really thinking of their device as a gaming platform and it\u2019s kind of priced at parity with gaming platforms and the,\u00a0<\/span><span title=\"17:00 - 17:14\" data-start=\"00:16:59.692\" data-end=\"00:17:14.438\" data-spk=\"0\" data-label=\"Jason\">Partnerships that are leaning into a really gaming Partnerships and it comes with very sort of gaming friendly controllers and things like that and apple is really thinking of this as a compute platform and I think on an implied in their announcement is they Envision a future when.<\/span><br \/><span title=\"17:15 - 17:21\" data-start=\"00:17:14.684\" data-end=\"00:17:20.735\" data-spk=\"0\" data-label=\"Jason\">You know we don\u2019t we don\u2019t own clamshell devices with keyboards that we used hitter.<\/span><br \/><span title=\"17:21 - 17:28\" data-start=\"00:17:21.144\" data-end=\"00:17:28.379\" data-spk=\"0\" data-label=\"Jason\">Get our work done and that we\u2019re more likely to sit in a comfortable chair with one of these things on our face and be much more productive.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[17:28]<\/small>\u00a0<span title=\"17:28 - 17:42\" data-start=\"00:17:28.475\" data-end=\"00:17:41.611\" data-spk=\"1\" data-label=\"Scot\">Yeah another thing that was interesting this got obscured by the announcement was I\u2019ve heard a fair amount of Buzz about this roller coaster experience in Japan and I think it\u2019s a Nintendo theme park and what you yes.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[17:39]<\/small>\u00a0<span title=\"17:39 - 17:43\" data-start=\"00:17:39.394\" data-end=\"00:17:43.417\" data-spk=\"0\" data-label=\"Jason\">Super Mario Kart and I think they did they just did it in.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[17:43]<\/small>\u00a0<span title=\"17:43 - 17:44\" data-start=\"00:17:43.167\" data-end=\"00:17:44.411\" data-spk=\"1\" data-label=\"Scot\">Yeah.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[17:44]<\/small>\u00a0<span title=\"17:44 - 17:48\" data-start=\"00:17:44.167\" data-end=\"00:17:47.932\" data-spk=\"0\" data-label=\"Jason\">Universal Studios in Los Angeles I believe may not have it.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[17:48]<\/small>\u00a0<span title=\"17:48 - 17:53\" data-start=\"00:17:47.824\" data-end=\"00:17:52.830\" data-spk=\"1\" data-label=\"Scot\">Okay well Apple acquired the company that built this experience for Nintendo and.<\/span><br \/><span title=\"17:53 - 18:02\" data-start=\"00:17:53.473\" data-end=\"00:18:01.669\" data-spk=\"1\" data-label=\"Scot\">Yeah so you know kind of putting that together you see all right you got Bob Iger on stage and that was like content on the device\u00a0<\/span><span title=\"18:01 - 18:08\" data-start=\"00:18:01.447\" data-end=\"00:18:08.243\" data-spk=\"1\" data-label=\"Scot\">but think about this killer you know imagine you go to your next Generation Galaxy Edge experience in your writing some kind of a ride\u00a0<\/span><span title=\"18:08 - 18:14\" data-start=\"00:18:08.069\" data-end=\"00:18:13.603\" data-spk=\"1\" data-label=\"Scot\">and now they throw some AR part on top of that experience that that would be pretty cool.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[18:14]<\/small>\u00a0<span title=\"18:14 - 18:24\" data-start=\"00:18:13.597\" data-end=\"00:18:23.530\" data-spk=\"0\" data-label=\"Jason\">Yeah I guess so to other random things I thought were mildly interesting normally apple is pretty good about dropping these announcements and then having like.<\/span><br \/><span title=\"18:24 - 18:33\" data-start=\"00:18:24.342\" data-end=\"00:18:33.126\" data-spk=\"0\" data-label=\"Jason\">Pretty quick of the ability thereafter and so one weird thing they\u2019re announcing this and June and it\u2019s not going to be available in told 2024.<\/span><br \/><span title=\"18:34 - 18:43\" data-start=\"00:18:33.626\" data-end=\"00:18:43.180\" data-spk=\"0\" data-label=\"Jason\">Um which I you know that feels a little unusual for me and then not surprising at all but like very noticeable.<\/span><br \/><span title=\"18:43 - 18:52\" data-start=\"00:18:43.444\" data-end=\"00:18:51.544\" data-spk=\"0\" data-label=\"Jason\">Three words that were not mentioned ever in this announcement were artificial intelligence VR or the metaverse.<\/span><br \/><span title=\"18:52 - 18:57\" data-start=\"00:18:52.296\" data-end=\"00:18:57.283\" data-spk=\"0\" data-label=\"Jason\">So they kind of invented their own terms and I think they very intentionally avoided.<\/span><br \/><span title=\"18:58 - 19:12\" data-start=\"00:18:57.704\" data-end=\"00:19:12.119\" data-spk=\"0\" data-label=\"Jason\">A variety of stigmas that are attached to some of those those other terms and then I guess the last thing in my head you know there\u2019s this company and I think they still exist and they have raised billions of dollars.<\/span><br \/><span title=\"19:13 - 19:20\" data-start=\"00:19:12.841\" data-end=\"00:19:20.292\" data-spk=\"0\" data-label=\"Jason\">On a lot of hype around a really high-end AR headset it\u2019s this company called magically.<\/span><br \/><span title=\"19:21 - 19:24\" data-start=\"00:19:20.689\" data-end=\"00:19:24.378\" data-spk=\"0\" data-label=\"Jason\">And I think like if there\u2019s any loser in this whole Space.<\/span><\/p>\n<p><small>[19:26]<\/small>\u00a0<span title=\"19:26 - 19:37\" data-start=\"00:19:25.742\" data-end=\"00:19:36.672\" data-spk=\"0\" data-label=\"Jason\">Like if there was any hope of magically surviving think I think this you know this seems like a better product in every way than what magically was promising and wasn\u2019t able to deliver.<\/span><\/p>\n<p><small>[19:46]<\/small>\u00a0<span title=\"19:46 - 19:50\" data-start=\"00:19:45.572\" data-end=\"00:19:50.469\" data-spk=\"0\" data-label=\"Jason\">Yeah I\u2019m sure there\u2019s some IP that\u2019s that\u2019s interesting to someone I hope so they spent a fortune.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[19:48]<\/small>\u00a0<span title=\"19:48 - 19:55\" data-start=\"00:19:48.318\" data-end=\"00:19:54.928\" data-spk=\"1\" data-label=\"Scot\">Yeah I think they\u2019re done they yeah they missed their window and they had these really cool early demos but.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[19:55]<\/small>\u00a0<span title=\"19:55 - 20:05\" data-start=\"00:19:54.628\" data-end=\"00:20:04.663\" data-spk=\"0\" data-label=\"Jason\">Yeah I actually got one we\u2019re like literally the it was kind of like old-school Oculus like there\u2019s a you know a refrigerator size computer that was Tethered to the.<\/span><br \/><span title=\"20:05 - 20:10\" data-start=\"00:20:05.126\" data-end=\"00:20:10.149\" data-spk=\"0\" data-label=\"Jason\">To the screen but it definitely it was not 4K with 12 second latency.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[20:10]<\/small>\u00a0<span title=\"20:10 - 20:20\" data-start=\"00:20:10.065\" data-end=\"00:20:19.649\" data-spk=\"1\" data-label=\"Scot\">Nothing yep and so this is where Apple wins because they can they built their own silk and they built a chip for that latency it\u2019s called the R1 or something and\u00a0<\/span><span title=\"20:20 - 20:28\" data-start=\"00:20:19.583\" data-end=\"00:20:27.569\" data-spk=\"1\" data-label=\"Scot\">so they basically said alright we need to create Hardware that can have this under eight millisecond latency and they just did it and you know that\u2019s not everyone can do that.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[20:28]<\/small>\u00a0<span title=\"20:28 - 20:38\" data-start=\"00:20:27.588\" data-end=\"00:20:37.760\" data-spk=\"0\" data-label=\"Jason\">Not many yeah so I thought that was interesting again like you and I will be able to have our little Avatar meetings after this maybe we\u2019ll be able to record the podcast in it.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[20:38]<\/small>\u00a0<span title=\"20:38 - 20:41\" data-start=\"00:20:38.037\" data-end=\"00:20:40.999\" data-spk=\"1\" data-label=\"Scot\">Yeah people can watch us look at each other with goggles.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[20:42]<\/small>\u00a0<span title=\"20:42 - 20:50\" data-start=\"00:20:41.529\" data-end=\"00:20:50.253\" data-spk=\"0\" data-label=\"Jason\">I feel like if there\u2019s two people that would whose attractiveness would be improved by the goggles and might be us we have faces for podcasting.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[20:47]<\/small>\u00a0<span title=\"20:47 - 20:54\" data-start=\"00:20:47.063\" data-end=\"00:20:54.255\" data-spk=\"1\" data-label=\"Scot\">Yeah yeah I can yeah I\u2019m kind of wondering can you change your eyes you know so those are all simulated so.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[20:54]<\/small>\u00a0<span title=\"20:54 - 21:02\" data-start=\"00:20:53.955\" data-end=\"00:21:02.007\" data-spk=\"0\" data-label=\"Jason\">You have to be able to write like if I can buy blue contacts why can\u2019t I have yeah because that that is true for those that didn\u2019t see the announcement\u00a0<\/span><span title=\"21:02 - 21:08\" data-start=\"00:21:01.911\" data-end=\"00:21:08.136\" data-spk=\"0\" data-label=\"Jason\">it can look like the glasses are clear because you can see the where\u2019s eyes through the glasses but it\u2019s because,\u00a0<\/span><span title=\"21:08 - 21:15\" data-start=\"00:21:08.155\" data-end=\"00:21:14.975\" data-spk=\"0\" data-label=\"Jason\">there\u2019s cameras inside the glasses and there\u2019s always screens on the outside of the glasses and so they\u2019re they\u2019re renderings of your eyes.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[21:16]<\/small>\u00a0<span title=\"21:16 - 21:20\" data-start=\"00:21:15.678\" data-end=\"00:21:19.530\" data-spk=\"1\" data-label=\"Scot\">Yeah I want to I\u2019m going to do a Terminator ice that\u2019s what I\u2019m going for.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[21:20]<\/small>\u00a0<span title=\"21:20 - 21:25\" data-start=\"00:21:19.602\" data-end=\"00:21:25.244\" data-spk=\"0\" data-label=\"Jason\">Yeah I\u2019m extra weary about Terminator references in our current AI climb.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[21:25]<\/small>\u00a0<span title=\"21:25 - 21:28\" data-start=\"00:21:24.944\" data-end=\"00:21:28.032\" data-spk=\"1\" data-label=\"Scot\">That\u2019s a good Segway.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[21:28]<\/small>\u00a0<span title=\"21:28 - 21:31\" data-start=\"00:21:28.435\" data-end=\"00:21:30.971\" data-spk=\"0\" data-label=\"Jason\">Nice I like it.<\/span><br \/><span title=\"21:31 - 21:46\" data-start=\"00:21:31.332\" data-end=\"00:21:46.432\" data-spk=\"0\" data-label=\"Jason\">Yeah so there\u2019s lots of AI news like we could do a month of AI shows it feels like the only thing I talk about it work but there\u2019s one particular subset of all this AI That\u2019s often called generative Ai and I\u2019m going to even say\u00a0<\/span><span title=\"21:46 - 21:51\" data-start=\"00:21:46.276\" data-end=\"00:21:50.644\" data-spk=\"0\" data-label=\"Jason\">focusing very specifically on the\u00a0<\/span><span title=\"21:51 - 21:58\" data-start=\"00:21:50.603\" data-end=\"00:21:57.507\" data-spk=\"0\" data-label=\"Jason\">image generation Ai and there\u2019s tons of cool stuff that I think you and I have both been playing with.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[21:58]<\/small>\u00a0<span title=\"21:58 - 22:08\" data-start=\"00:21:58.012\" data-end=\"00:22:07.842\" data-spk=\"1\" data-label=\"Scot\">Yeah I\u2019m big into mid-journey and then everyone\u2019s done chat G PT but then the big\u00a0<\/span><span title=\"22:08 - 22:17\" data-start=\"00:22:07.825\" data-end=\"00:22:16.628\" data-spk=\"1\" data-label=\"Scot\">the big thing that\u2019s helped me is once it became where you could do the links I\u2019ve been able to I do a lot of writing and I\u2019ve been able to\u00a0<\/span><span title=\"22:17 - 22:24\" data-start=\"00:22:16.544\" data-end=\"00:22:23.833\" data-spk=\"1\" data-label=\"Scot\">accumulate all my writing in a file and then feed it in and say Here\u2019s my style analyze this so that it goes to,\u00a0<\/span><span title=\"22:24 - 22:35\" data-start=\"00:22:23.875\" data-end=\"00:22:35.484\" data-spk=\"1\" data-label=\"Scot\">then I taught to start writing in my style and then that has been a huge game-changer for me that\u2019s the first one gives you like a decent draft and then you\u2019re kind of find yourself editing a lot but like having it\u00a0<\/span><span title=\"22:35 - 22:45\" data-start=\"00:22:35.388\" data-end=\"00:22:44.810\" data-spk=\"1\" data-label=\"Scot\">where you can now upload new information either from the web or in a file or a PDF is a been a big game changer for me it\u2019s it gets it more like you know\u00a0<\/span><span title=\"22:45 - 22:46\" data-start=\"00:22:44.660\" data-end=\"00:22:46.325\" data-spk=\"1\" data-label=\"Scot\">95% weather.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[22:47]<\/small>\u00a0<span title=\"22:47 - 22:55\" data-start=\"00:22:46.674\" data-end=\"00:22:55.494\" data-spk=\"0\" data-label=\"Jason\">Oh yeah I think I\u2019ve mentioned this before but like there\u2019s a small subset of the writing I do that I get to partner with a copywriter so I\u2019ll like,\u00a0<\/span><span title=\"22:56 - 23:01\" data-start=\"00:22:55.609\" data-end=\"00:23:00.536\" data-spk=\"0\" data-label=\"Jason\">give outlines or dictate things to a copywriter in the draft I get back\u00a0<\/span><span title=\"23:01 - 23:13\" data-start=\"00:23:00.512\" data-end=\"00:23:12.632\" data-spk=\"0\" data-label=\"Jason\">is almost always will written but not remotely in my voice and so it takes me a long time to edit it and give I give the same raw inputs to chechi BT that that I\u2019ve trained.<\/span><br \/><span title=\"23:13 - 23:18\" data-start=\"00:23:13.005\" data-end=\"00:23:18.269\" data-spk=\"0\" data-label=\"Jason\">To know my writing style what I get back is is way closer to use them.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[23:19]<\/small>\u00a0<span title=\"23:19 - 23:23\" data-start=\"00:23:18.780\" data-end=\"00:23:23.028\" data-spk=\"1\" data-label=\"Scot\">Does your copywriter listen to this podcast.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[23:23]<\/small>\u00a0<span title=\"23:23 - 23:25\" data-start=\"00:23:22.848\" data-end=\"00:23:25.221\" data-spk=\"0\" data-label=\"Jason\">Hopefully she does not.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[23:25]<\/small>\u00a0<span title=\"23:25 - 23:27\" data-start=\"00:23:25.222\" data-end=\"00:23:26.796\" data-spk=\"1\" data-label=\"Scot\">Okay good.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[23:27]<\/small>\u00a0<span title=\"23:27 - 23:41\" data-start=\"00:23:26.658\" data-end=\"00:23:41.374\" data-spk=\"0\" data-label=\"Jason\">Yeah yeah no I you know again there\u2019s a whole we again we could do another podcast about whether AI is gonna create or destroy jobs or both but I think like a lot of things there are things that we used to pay people to do that are it\u2019s going to be harder to make a living doing,\u00a0<\/span><span title=\"23:41 - 23:51\" data-start=\"00:23:41.386\" data-end=\"00:23:51.120\" data-spk=\"0\" data-label=\"Jason\">but there\u2019s going to be lots of new jobs to write and those copywriters like ought to be the first ones learning how to write good prompts for these for these things,\u00a0<\/span><span title=\"23:51 - 23:59\" data-start=\"00:23:51.289\" data-end=\"00:23:58.716\" data-spk=\"0\" data-label=\"Jason\">the image ones I\u2019ve been playing with image generators to I use mid Journey,\u00a0<\/span><span title=\"23:59 - 24:04\" data-start=\"00:23:58.818\" data-end=\"00:24:03.836\" data-spk=\"0\" data-label=\"Jason\">you know there\u2019s an open source one that you can kind of run on your local hardware stable diffusion,\u00a0<\/span><span title=\"24:04 - 24:13\" data-start=\"00:24:03.992\" data-end=\"00:24:12.885\" data-spk=\"0\" data-label=\"Jason\">that has a lot less constraints it\u2019s not quite as high quality of rendering is mid-journey but I\u2019ll tell you the new thing that\u2019s been fun for me is\u00a0<\/span><span title=\"24:13 - 24:27\" data-start=\"00:24:12.765\" data-end=\"00:24:27.211\" data-spk=\"0\" data-label=\"Jason\">Adobe announced a generative AI model called Firefly and they already built it in one of their products so the the if you own Photoshop CC you can download a Photoshop beta and it has this feature that they call.<\/span><\/p>\n<p><small>[24:28]<\/small>\u00a0<span title=\"24:28 - 24:31\" data-start=\"00:24:27.902\" data-end=\"00:24:31.369\" data-spk=\"0\" data-label=\"Jason\">Excuse me generative Phil and,\u00a0<\/span><span title=\"24:31 - 24:43\" data-start=\"00:24:31.496\" data-end=\"00:24:43.225\" data-spk=\"0\" data-label=\"Jason\">generative Phil is a legitimate Game Changer there\u2019s a bunch of use cases that used to be super time-consuming for designers that that this beta version already like.<\/span><br \/><span title=\"24:44 - 24:54\" data-start=\"00:24:43.676\" data-end=\"00:24:53.789\" data-spk=\"0\" data-label=\"Jason\">Makes Child\u2019s Play and one of the sort of unfortunate thing mid-journey generates really beautiful images the one thing it doesn\u2019t do is,\u00a0<\/span><span title=\"24:54 - 25:05\" data-start=\"00:24:53.958\" data-end=\"00:25:05.489\" data-spk=\"0\" data-label=\"Jason\">trademark images or copyright images or text right so very often you might generate an image in mid Journey but then you had you\u2019d have to hand it to a good Photoshop artist to put the\u00a0<\/span><span title=\"25:05 - 25:13\" data-start=\"00:25:05.375\" data-end=\"00:25:12.609\" data-spk=\"0\" data-label=\"Jason\">spiffy logo in it or to put you know and actual image of Scot Wingo in it or something like that.<\/span><br \/><span title=\"25:13 - 25:24\" data-start=\"00:25:13.151\" data-end=\"00:25:23.978\" data-spk=\"0\" data-label=\"Jason\">And Adobe Firefly is really good at that use case so like I\u2019ve actually done a bunch of kind of Blended image where I made an image in mid journey and then,\u00a0<\/span><span title=\"25:24 - 25:28\" data-start=\"00:25:24.081\" data-end=\"00:25:27.662\" data-spk=\"0\" data-label=\"Jason\">I refined it in the Photoshop beta and it\u2019s,\u00a0<\/span><span title=\"25:28 - 25:38\" data-start=\"00:25:27.801\" data-end=\"00:25:38.430\" data-spk=\"0\" data-label=\"Jason\">it\u2019s super fun but man like you know if I\u2019m any kind of designer or graphic artist like I want to get good at this stuff right away because it,\u00a0<\/span><span title=\"25:39 - 25:43\" data-start=\"00:25:38.521\" data-end=\"00:25:42.841\" data-spk=\"0\" data-label=\"Jason\">I\u2019m not saying is going to eliminate jobs but it\u2019s going to change the kind of jobs people need to be good at.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[25:43]<\/small>\u00a0<span title=\"25:43 - 25:55\" data-start=\"00:25:43.364\" data-end=\"00:25:55.424\" data-spk=\"1\" data-label=\"Scot\">Yeah there\u2019s been a lot of really cool use cases of the generative AI feature in Photoshop where people would start like with them Nirvana cover you know the little baby swimming naked and then expand it\u00a0<\/span><span title=\"25:55 - 26:04\" data-start=\"00:25:55.298\" data-end=\"00:26:04.173\" data-spk=\"1\" data-label=\"Scot\">ever bigger than you can like see the rest of the scene what the computer imagines and they\u2019re starting to it with memes to it\u2019s pretty wild to watch some output of that it\u2019s\u00a0<\/span><span title=\"26:04 - 26:08\" data-start=\"00:26:04.156\" data-end=\"00:26:08.374\" data-spk=\"1\" data-label=\"Scot\">it\u2019s like it\u2019s a little scary wow it could be,\u00a0<\/span><span title=\"26:08 - 26:15\" data-start=\"00:26:08.476\" data-end=\"00:26:14.647\" data-spk=\"1\" data-label=\"Scot\">how real it is it feels like it is it\u2019s not real obviously because no one knows what\u2019s in that rest of that frame.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[26:15]<\/small>\u00a0<span title=\"26:15 - 26:24\" data-start=\"00:26:14.708\" data-end=\"00:26:24.472\" data-spk=\"0\" data-label=\"Jason\">Yeah there\u2019s a real world use case where Nike and Tiffany announced a collab product and everyone saw it and thought it was awful.<\/span><br \/><span title=\"26:25 - 26:38\" data-start=\"00:26:25.386\" data-end=\"00:26:38.377\" data-spk=\"0\" data-label=\"Jason\">Right like that it just like is just a very like not inspiring combination of Nike shoes with Tiffany branding and a bunch of people then you know went and use these generative AI models to create.<\/span><br \/><span title=\"26:39 - 26:50\" data-start=\"00:26:38.576\" data-end=\"00:26:49.548\" data-spk=\"0\" data-label=\"Jason\">Way better looking shit Tiffany Nike shoes and that really happened and then last night I actually watched the Nike are movie which is the movie about the.<\/span><\/p>\n<p><small>[26:50]<\/small>\u00a0<span title=\"26:50 - 26:52\" data-start=\"00:26:50.017\" data-end=\"00:26:51.663\" data-spk=\"0\" data-label=\"Jason\">Both of the Air Jordans with them.<\/span><br \/><span title=\"26:52 - 27:04\" data-start=\"00:26:52.066\" data-end=\"00:27:03.975\" data-spk=\"0\" data-label=\"Jason\">Matt Damon and Ben Affleck in it awesome movie by the way especially if you grew up in the 80s like there was a lot of fun nostalgia.<\/span><br \/><span title=\"27:04 - 27:14\" data-start=\"00:27:04.312\" data-end=\"00:27:14.245\" data-spk=\"0\" data-label=\"Jason\">But in this movie The they get a meeting with young Michael Jordan and his family who are going to come to Beaverton to talk about.<\/span><br \/><span title=\"27:15 - 27:22\" data-start=\"00:27:14.552\" data-end=\"00:27:22.255\" data-spk=\"0\" data-label=\"Jason\">In doing a Nike endorsement and and Nikes though Dark Horse like Jordans not interested in Nike and so the\u00a0<\/span><span title=\"27:22 - 27:36\" data-start=\"00:27:22.129\" data-end=\"00:27:35.992\" data-spk=\"0\" data-label=\"Jason\">the the team after they booked this meeting on Friday afternoon they go to the the one Nike designer in the basement and they say Hey by Monday I need a prototype and a rendering of the world\u2019s greatest basketball shoe and this,\u00a0<\/span><span title=\"27:36 - 27:41\" data-start=\"00:27:36.088\" data-end=\"00:27:41.202\" data-spk=\"0\" data-label=\"Jason\">this guy had a weekend to invent the Air Jordan which he did right and\u00a0<\/span><span title=\"27:41 - 27:54\" data-start=\"00:27:41.088\" data-end=\"00:27:53.827\" data-spk=\"0\" data-label=\"Jason\">and history is made like you know it made 40 billion dollars for Phil Knight and a couple billion dollars for Michael Jordan so great success but you imagine that if that kind of thing were to happen today,\u00a0<\/span><span title=\"27:54 - 27:59\" data-start=\"00:27:53.983\" data-end=\"00:27:59.205\" data-spk=\"0\" data-label=\"Jason\">um there\u2019d be a team rendering,\u00a0<\/span><span title=\"27:59 - 28:10\" data-start=\"00:27:59.374\" data-end=\"00:28:10.171\" data-spk=\"0\" data-label=\"Jason\">a hundred different concepts in these generative AI models and that it have like a way wider variation of interesting ideas to consider.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[28:10]<\/small>\u00a0<span title=\"28:10 - 28:11\" data-start=\"00:28:10.394\" data-end=\"00:28:11.475\" data-spk=\"1\" data-label=\"Scot\">Yeah very cool.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[28:12]<\/small>\u00a0<span title=\"28:12 - 28:19\" data-start=\"00:28:11.704\" data-end=\"00:28:19.437\" data-spk=\"0\" data-label=\"Jason\">So I will say we\u2019re starting to see some interesting Commerce use cases\u00a0<\/span><span title=\"28:19 - 28:33\" data-start=\"00:28:19.258\" data-end=\"00:28:32.994\" data-spk=\"0\" data-label=\"Jason\">the I have seen a bunch of clients that are using generative AI to create or refine product images and in some cases they are literally saving millions of man hours now.<\/span><br \/><span title=\"28:33 - 28:48\" data-start=\"00:28:33.277\" data-end=\"00:28:48.263\" data-spk=\"0\" data-label=\"Jason\">You know so maybe you\u2019ve got you know a huge catalog of products and they\u2019re all shot as lifestyle imagery or they\u2019re all sot on a particular background and then you now need to sell them in the new Marketplace at Sheehan that didn\u2019t exist a year ago.<\/span><br \/><span title=\"28:49 - 28:52\" data-start=\"00:28:48.504\" data-end=\"00:28:51.742\" data-spk=\"0\" data-label=\"Jason\">And there\u2019s a requirement for white backgrounds.<\/span><br \/><span title=\"28:52 - 29:01\" data-start=\"00:28:51.929\" data-end=\"00:29:01.465\" data-spk=\"0\" data-label=\"Jason\">Well you know you used to pay like an army of graphic designers to mask out all these images and change the backgrounds and now that these like generative things can do it.<\/span><\/p>\n<p><small>[29:02]<\/small>\u00a0<span title=\"29:02 - 29:10\" data-start=\"00:29:01.856\" data-end=\"00:29:09.667\" data-spk=\"0\" data-label=\"Jason\">Trivially and you imagine pretty quickly that all these images are going to be personalized right so instead of,\u00a0<\/span><span title=\"29:10 - 29:17\" data-start=\"00:29:09.800\" data-end=\"00:29:17.407\" data-spk=\"0\" data-label=\"Jason\">you know seeing that that product around some you know model family like at some you know random persons Thanksgiving table,\u00a0<\/span><span title=\"29:18 - 29:21\" data-start=\"00:29:17.570\" data-end=\"00:29:21.451\" data-spk=\"0\" data-label=\"Jason\">you\u2019re going to see that that that new food product.<\/span><br \/><span title=\"29:22 - 29:33\" data-start=\"00:29:21.650\" data-end=\"00:29:32.592\" data-spk=\"0\" data-label=\"Jason\">At your Thanksgiving table with your family sitting around it and all of these sorts of you know personalized cases as as the imagery the ability to generate imagery on the Fly gets really good,\u00a0<\/span><span title=\"29:33 - 29:38\" data-start=\"00:29:32.694\" data-end=\"00:29:38.403\" data-spk=\"0\" data-label=\"Jason\">and I\u2019ve actually never seen a couple of demos from Google of a product they first announced.<\/span><br \/><span title=\"29:39 - 29:43\" data-start=\"00:29:38.727\" data-end=\"00:29:43.318\" data-spk=\"0\" data-label=\"Jason\">Last year and then they announced that it\u2019s going to be released eminently last month,\u00a0<\/span><span title=\"29:43 - 29:53\" data-start=\"00:29:43.433\" data-end=\"00:29:52.969\" data-spk=\"0\" data-label=\"Jason\">it\u2019s called Google seen exploration in this is a cool AR use case specifically for retail so this is walk into a store\u00a0<\/span><span title=\"29:53 - 30:03\" data-start=\"00:29:52.963\" data-end=\"00:30:02.781\" data-spk=\"0\" data-label=\"Jason\">hold your phone with the camera on in front of an aisle and it recognizes all of the products on the Shelf using computer vision,\u00a0<\/span><span title=\"30:03 - 30:07\" data-start=\"00:30:02.950\" data-end=\"00:30:07.366\" data-spk=\"0\" data-label=\"Jason\">and then it overlays all the products with Google ratings and reviews.<\/span><\/p>\n<p><small>[30:08]<\/small>\u00a0<span title=\"30:08 - 30:19\" data-start=\"00:30:08.406\" data-end=\"00:30:18.591\" data-spk=\"0\" data-label=\"Jason\">So like giving you a lot of this like valuable digital information that didn\u2019t used to exist on the shelf right and you you know they talk about all the use cases like\u00a0<\/span><span title=\"30:19 - 30:23\" data-start=\"00:30:18.556\" data-end=\"00:30:23.483\" data-spk=\"0\" data-label=\"Jason\">you know you need to buy a highly rated nut free\u00a0<\/span><span title=\"30:23 - 30:39\" data-start=\"00:30:23.297\" data-end=\"00:30:39.425\" data-spk=\"0\" data-label=\"Jason\">vegan chocolate bar and you\u2019re standing in the chocolate aisle and there\u2019s a you know a thousand chocolate bars there\u2019s no way to search by that right and and with this scene exploration you know you can now do that on the fly in a store and to me that seems like a,\u00a0<\/span><span title=\"30:39 - 30:48\" data-start=\"00:30:39.497\" data-end=\"00:30:47.633\" data-spk=\"0\" data-label=\"Jason\">pretty cool use case and it\u2019s it\u2019s going to be built in the phones and then area of your in the OS in the very near future.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[30:50]<\/small>\u00a0<span title=\"30:50 - 30:59\" data-start=\"00:30:49.514\" data-end=\"00:30:59.128\" data-spk=\"1\" data-label=\"Scot\">Yeah I saw a Salesforce they\u2019ve been going at this very hard in within the Commerce Cloud they announced like 10 features\u00a0<\/span><span title=\"30:59 - 31:11\" data-start=\"00:30:58.943\" data-end=\"00:31:11.411\" data-spk=\"1\" data-label=\"Scot\">they have one where it will auto-generate your pdp\u2019s for you they have one where it will it\u2019ll generate tags so like it\u2019ll search the description and come up with sizes and colors and\u00a0<\/span><span title=\"31:11 - 31:17\" data-start=\"00:31:11.291\" data-end=\"00:31:16.735\" data-spk=\"1\" data-label=\"Scot\">and you know kind of like a variance and things out of a description to have another one,\u00a0<\/span><span title=\"31:17 - 31:24\" data-start=\"00:31:16.838\" data-end=\"00:31:24.499\" data-spk=\"1\" data-label=\"Scot\">there was no actually go create product catalog for you so if you\u2019ve you\u2019ve this was a huge thing we had a challenge with it\u00a0<\/span><span title=\"31:24 - 31:33\" data-start=\"00:31:24.403\" data-end=\"00:31:33.146\" data-spk=\"1\" data-label=\"Scot\">Channel visor is if you\u2019re selling if you\u2019re selling on Amazon and you\u2019re just matching to their Easter eysan you don\u2019t really have the rights to\u00a0<\/span><span title=\"31:33 - 31:43\" data-start=\"00:31:32.960\" data-end=\"00:31:42.880\" data-spk=\"1\" data-label=\"Scot\">that product information so then you can\u2019t just copy that and then put on eBay or something like that or your own website so they\u2019ve got this whole way that you can take that\u00a0<\/span><span title=\"31:43 - 31:46\" data-start=\"00:31:42.803\" data-end=\"00:31:46.203\" data-spk=\"1\" data-label=\"Scot\">data your your properties which aren\u2019t,\u00a0<\/span><span title=\"31:46 - 31:55\" data-start=\"00:31:46.228\" data-end=\"00:31:55.259\" data-spk=\"1\" data-label=\"Scot\">sentences create the description and then move it to other sections to a lot of really interesting things going on in the intersection of AI and e-commerce.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[31:56]<\/small>\u00a0<span title=\"31:56 - 32:07\" data-start=\"00:31:55.500\" data-end=\"00:32:06.526\" data-spk=\"0\" data-label=\"Jason\">Yeah absolutely so exciting about that and there\u2019s going to be I have a feeling we\u2019re going to be talking about significant new capabilities on an ongoing basis for the foreseeable future.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[32:06]<\/small>\u00a0<span title=\"32:06 - 32:15\" data-start=\"00:32:06.226\" data-end=\"00:32:14.993\" data-spk=\"1\" data-label=\"Scot\">I remember you\u2019d walked internet retailer and there be ten vendors there that would take your product pictures and add a white background yeah.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[32:15]<\/small>\u00a0<span title=\"32:15 - 32:23\" data-start=\"00:32:14.693\" data-end=\"00:32:22.630\" data-spk=\"0\" data-label=\"Jason\">And that win from like you know people in America doing that to people in India doing that and now it\u2019s it\u2019s an Nvidia chip doing it.<\/span><br \/><span title=\"32:24 - 32:36\" data-start=\"00:32:23.676\" data-end=\"00:32:36.163\" data-spk=\"0\" data-label=\"Jason\">Which side note like you know people keep asking who\u2019s winning the who\u2019s going to be the one to monetize a eyes are going to be open AI or meta all these small companies we also got the answer to that this quarter it\u2019s Invidia.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[32:36]<\/small>\u00a0<span title=\"32:36 - 32:39\" data-start=\"00:32:36.235\" data-end=\"00:32:39.071\" data-spk=\"1\" data-label=\"Scot\">Yeah they\u2019re gonna win yes.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[32:39]<\/small>\u00a0<span title=\"32:39 - 32:46\" data-start=\"00:32:38.994\" data-end=\"00:32:45.855\" data-spk=\"0\" data-label=\"Jason\">So for those that don\u2019t know nvidia\u2019s market cap Nvidia has a chip manufacturer famous for,\u00a0<\/span><span title=\"32:46 - 32:52\" data-start=\"00:32:45.994\" data-end=\"00:32:52.165\" data-spk=\"0\" data-label=\"Jason\">these high-performance graphic chips that were originally used for gaming and still are\u00a0<\/span><span title=\"32:52 - 33:03\" data-start=\"00:32:52.135\" data-end=\"00:33:03.162\" data-spk=\"0\" data-label=\"Jason\">and their chips have been extremely useful for training and doing refining training for all these these large language models in AI,\u00a0<\/span><span title=\"33:03 - 33:08\" data-start=\"00:33:03.258\" data-end=\"00:33:08.329\" data-spk=\"0\" data-label=\"Jason\">and their market cap briefly passed a trillion dollars,\u00a0<\/span><span title=\"33:08 - 33:18\" data-start=\"00:33:08.450\" data-end=\"00:33:18.172\" data-spk=\"0\" data-label=\"Jason\">um this month I think it dipped like just below a trillion dollars at the moment but to put that in perspective Intel\u2019s market cap is like 130 billion dollars.<\/span><br \/><span title=\"33:19 - 33:24\" data-start=\"00:33:19.218\" data-end=\"00:33:24.386\" data-spk=\"0\" data-label=\"Jason\">Like so Nvidia the game chip company is eight times more valuable than Intel at the.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[33:25]<\/small>\u00a0<span title=\"33:25 - 33:29\" data-start=\"00:33:24.687\" data-end=\"00:33:29.457\" data-spk=\"1\" data-label=\"Scot\">It\u2019s crazy yeah who knows no one had that on their bingo card five years.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[33:29]<\/small>\u00a0<span title=\"33:29 - 33:34\" data-start=\"00:33:29.380\" data-end=\"00:33:34.427\" data-spk=\"0\" data-label=\"Jason\">No I wish that was one of my year beginning predictions.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[33:34]<\/small>\u00a0<span title=\"33:34 - 33:38\" data-start=\"00:33:34.139\" data-end=\"00:33:38.194\" data-spk=\"1\" data-label=\"Scot\">Yeah anything else on a iron.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[33:38]<\/small>\u00a0<span title=\"33:38 - 33:44\" data-start=\"00:33:37.919\" data-end=\"00:33:44.041\" data-spk=\"0\" data-label=\"Jason\">No no did you Amazon 10 announcement last month you follow.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[33:44]<\/small>\u00a0<span title=\"33:44 - 33:48\" data-start=\"00:33:43.741\" data-end=\"00:33:48.152\" data-spk=\"1\" data-label=\"Scot\">Yeah yeah well it wouldn\u2019t be a Jason Scott show without some.<\/span><\/p>\n<p><small>[34:00]<\/small>\u00a0<span title=\"34:00 - 34:06\" data-start=\"00:34:00.242\" data-end=\"00:34:05.902\" data-spk=\"1\" data-label=\"Scot\">That\u2019s right time for some Amazon news Amazon has been unexpectedly quiet\u00a0<\/span><span title=\"34:06 - 34:21\" data-start=\"00:34:05.831\" data-end=\"00:34:20.715\" data-spk=\"1\" data-label=\"Scot\">so we\u2019ve got a new CEO basis is out romping around wearing crazy shirts at festivals and living the high life with his girlfriend so,\u00a0<\/span><span title=\"34:21 - 34:26\" data-start=\"00:34:20.727\" data-end=\"00:34:25.636\" data-spk=\"1\" data-label=\"Scot\">some of that out there other engage did not know that congratulations Jeff I know he listens to.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[34:26]<\/small>\u00a0<span title=\"34:26 - 34:29\" data-start=\"00:34:25.661\" data-end=\"00:34:29.007\" data-spk=\"0\" data-label=\"Jason\">If you\u2019re playing bingo it was a 2.5 million dollar diamond.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[34:29]<\/small>\u00a0<span title=\"34:29 - 34:37\" data-start=\"00:34:29.266\" data-end=\"00:34:37.378\" data-spk=\"1\" data-label=\"Scot\">Nice the one thing I saw just to highlight is a lot there\u2019s kind of a,\u00a0<\/span><span title=\"34:37 - 34:44\" data-start=\"00:34:37.498\" data-end=\"00:34:44.072\" data-spk=\"1\" data-label=\"Scot\">this bit of an economic downturn has made many of the video providers get more serious about profitability so we saw\u00a0<\/span><span title=\"34:44 - 34:56\" data-start=\"00:34:43.946\" data-end=\"00:34:56.000\" data-spk=\"1\" data-label=\"Scot\">both Netflix and Disney add an ad-supported tier and increase their prices and just as we\u2019re recording this Amazon announced they\u2019re going to do the same thing with prime so they\u2019re going to have an add to your 44 Prime\u00a0<\/span><span title=\"34:56 - 35:03\" data-start=\"00:34:55.862\" data-end=\"00:35:02.736\" data-spk=\"1\" data-label=\"Scot\">but I know you follow the devices I totally slept on this because I was so\u00a0<\/span><span title=\"35:03 - 35:07\" data-start=\"00:35:02.562\" data-end=\"00:35:06.714\" data-spk=\"1\" data-label=\"Scot\">eager for the Vision Pro tell me about the new devices.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[35:07]<\/small>\u00a0<span title=\"35:07 - 35:09\" data-start=\"00:35:07.063\" data-end=\"00:35:09.022\" data-spk=\"0\" data-label=\"Jason\">Yeah yeah.<\/span><br \/><span title=\"35:09 - 35:18\" data-start=\"00:35:09.401\" data-end=\"00:35:18.155\" data-spk=\"0\" data-label=\"Jason\">I would characterize it as disappointing they want some new Echo devices at.<\/span><br \/><span title=\"35:18 - 35:27\" data-start=\"00:35:18.390\" data-end=\"00:35:26.592\" data-spk=\"0\" data-label=\"Jason\">The in the middle of May for release on May 31st and you know I have it.<\/span><br \/><span title=\"35:27 - 35:36\" data-start=\"00:35:27.055\" data-end=\"00:35:35.840\" data-spk=\"0\" data-label=\"Jason\">An embarrassing amount of these devices controlling smart home features throughout my house and they when I first got them like.<\/span><\/p>\n<p><small>[35:37]<\/small>\u00a0<span title=\"35:37 - 35:44\" data-start=\"00:35:36.532\" data-end=\"00:35:44.481\" data-spk=\"0\" data-label=\"Jason\">I seem very I felt very satisfied with them like the the accuracy of the speech recognition and stuff seemed adequate like based on\u00a0<\/span><span title=\"35:44 - 35:56\" data-start=\"00:35:44.404\" data-end=\"00:35:56.061\" data-spk=\"0\" data-label=\"Jason\">my expectations at the time but I\u2019ve grown to be very annoyed by them like they really struggle to know which room you\u2019re talking to and they\u2019re inconsistent about how\u00a0<\/span><span title=\"35:56 - 36:05\" data-start=\"00:35:56.007\" data-end=\"00:36:05.134\" data-spk=\"0\" data-label=\"Jason\">semantically accurate you have to be like in in this world where Chad gbt is writing all my articles for me you know you just go I,\u00a0<\/span><span title=\"36:05 - 36:19\" data-start=\"00:36:05.237\" data-end=\"00:36:18.691\" data-spk=\"0\" data-label=\"Jason\">man the speech recognition in this Hardware has to be better and so I was kind of eagerly looking for some new Echoes that have like an llm in them it seemed like Amazon was a first mover here,\u00a0<\/span><span title=\"36:19 - 36:26\" data-start=\"00:36:18.769\" data-end=\"00:36:26.400\" data-spk=\"0\" data-label=\"Jason\">and so they did announce some new devices but they\u2019re pretty boring so they announced a new form factor called the echo pop which is.<\/span><\/p>\n<p><small>[36:27]<\/small>\u00a0<span title=\"36:27 - 36:35\" data-start=\"00:36:27.014\" data-end=\"00:36:34.513\" data-spk=\"0\" data-label=\"Jason\">I want by my count their fourth or fifth attempt to build a more premium speaker into an echo and this is like.<\/span><br \/><span title=\"36:35 - 36:42\" data-start=\"00:36:34.747\" data-end=\"00:36:42.216\" data-spk=\"0\" data-label=\"Jason\">A more affordable premium speaker which seems like a weird Niche so that wasn\u2019t that interesting I don\u2019t actually use the echoes.<\/span><br \/><span title=\"36:43 - 36:48\" data-start=\"00:36:42.613\" data-end=\"00:36:48.225\" data-spk=\"0\" data-label=\"Jason\">As speakers so much and then they launched a new Echo Show 5 which is.<\/span><br \/><span title=\"36:49 - 37:03\" data-start=\"00:36:48.671\" data-end=\"00:37:03.044\" data-spk=\"0\" data-label=\"Jason\">The the echo with the screen it\u2019s the smallest screen has 5 inch screen and then they announced some new Echo buds the echo built into the the earbuds which you and I both tried and I don\u2019t think we\u2019re very enamored by.<\/span><br \/><span title=\"37:03 - 37:04\" data-start=\"00:37:03.375\" data-end=\"00:37:04.173\" data-spk=\"0\" data-label=\"Jason\">The.<\/span><br \/><span title=\"37:05 - 37:14\" data-start=\"00:37:04.625\" data-end=\"00:37:13.596\" data-spk=\"0\" data-label=\"Jason\">The features are like oh the speaker sounds better than the old speaker the microphone is more accurate than the old microphone and it\u2019s 20% faster.<\/span><\/p>\n<p><small>[37:15]<\/small>\u00a0<span title=\"37:15 - 37:21\" data-start=\"00:37:14.708\" data-end=\"00:37:21.119\" data-spk=\"0\" data-label=\"Jason\">And so like I bought a couple of these new new Echoes to see if I you noticed a difference and it\u2019s.<\/span><br \/><span title=\"37:22 - 37:26\" data-start=\"00:37:21.570\" data-end=\"00:37:26.281\" data-spk=\"0\" data-label=\"Jason\">Like it\u2019s to me it\u2019s mostly imperceptible from the old Hardware so pretty disappointing.<\/span><br \/><span title=\"37:27 - 37:39\" data-start=\"00:37:26.696\" data-end=\"00:37:39.212\" data-spk=\"0\" data-label=\"Jason\">Um but app that announcement I will say Andy jassy said that hey the large language model for Echo is coming and you know there.<\/span><br \/><span title=\"37:40 - 37:48\" data-start=\"00:37:40.264\" data-end=\"00:37:47.956\" data-spk=\"0\" data-label=\"Jason\">It does feel like Amazon\u2019s a little behind and I don\u2019t know if this announcement was meant to apologize for that that.<\/span><br \/><span title=\"37:48 - 37:56\" data-start=\"00:37:48.220\" data-end=\"00:37:56.494\" data-spk=\"0\" data-label=\"Jason\">Status or whether there really is something that\u2019s going to be imminently announced but you know like he he doubled down on their effort to make this the,\u00a0<\/span><span title=\"37:57 - 38:06\" data-start=\"00:37:56.561\" data-end=\"00:38:05.989\" data-spk=\"0\" data-label=\"Jason\">the most useful personal assistant on Earth and you know part of that is we\u2019re going to have a robust large language model that\u2019s you know on has a,\u00a0<\/span><span title=\"38:06 - 38:16\" data-start=\"00:38:06.175\" data-end=\"00:38:16.096\" data-spk=\"0\" data-label=\"Jason\">a similar number of parameters to to open a I or bear door or Lama from from meta,\u00a0<\/span><span title=\"38:16 - 38:22\" data-start=\"00:38:16.102\" data-end=\"00:38:21.787\" data-spk=\"0\" data-label=\"Jason\">that the Amazons going to release to make these these sneakers smarter so I hope he delivers on that promise.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[38:23]<\/small>\u00a0<span title=\"38:23 - 38:30\" data-start=\"00:38:22.827\" data-end=\"00:38:29.616\" data-spk=\"1\" data-label=\"Scot\">Yeah the there if definitely feels like chat gbt started this new gear for\u00a0<\/span><span title=\"38:29 - 38:39\" data-start=\"00:38:29.455\" data-end=\"00:38:39.123\" data-spk=\"1\" data-label=\"Scot\">Innovation and feels like apple even with their big announcement there was they worked some AI in there but it just feels like.<\/span><br \/><span title=\"38:39 - 38:42\" data-start=\"00:38:39.370\" data-end=\"00:38:42.199\" data-spk=\"1\" data-label=\"Scot\">There\u2019s a lot of people speculating\u00a0<\/span><span title=\"38:42 - 38:50\" data-start=\"00:38:42.104\" data-end=\"00:38:50.191\" data-spk=\"1\" data-label=\"Scot\">do you really need a phone if we\u2019re going to head to a device where you can talk to it and these plugins at chat gbt now give it\u00a0<\/span><span title=\"38:50 - 39:02\" data-start=\"00:38:50.042\" data-end=\"00:39:01.765\" data-spk=\"1\" data-label=\"Scot\">action so you can say hey book me a restaurant reservation the things you would do on your phone you\u2019re going to be almost able to do totally by voice soon therefore will you need a phone so there\u2019s a lot of you know\u00a0<\/span><span title=\"39:02 - 39:14\" data-start=\"00:39:01.621\" data-end=\"00:39:14.288\" data-spk=\"1\" data-label=\"Scot\">that\u2019s a new would expect Amazon who was ahead on voice now feels like they\u2019re behind on a lot of this so it\u2019s be really interesting this next year to see who can kind of hang with this and you can\u2019t the R&amp;D budgets are gonna go through the roof that\u2019s for sure.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[39:14]<\/small>\u00a0<span title=\"39:14 - 39:23\" data-start=\"00:39:14.427\" data-end=\"00:39:23.193\" data-spk=\"0\" data-label=\"Jason\">Yeah and the irony is you know you go back in time and you know all the retailers in America where happily you know shipping two weeks after you place an order\u00a0<\/span><span title=\"39:23 - 39:38\" data-start=\"00:39:23.001\" data-end=\"00:39:38.360\" data-spk=\"0\" data-label=\"Jason\">in Amazon you know disrupted Everybody by saying like hey you should get your stuff in two days and then one day and then same day right and they they raised the expectations for everyone else it feels like open AI is doing that to Apple and Amazon right now on the on the\u00a0<\/span><span title=\"39:38 - 39:40\" data-start=\"00:39:38.240\" data-end=\"00:39:39.826\" data-spk=\"0\" data-label=\"Jason\">natural language models.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[39:43]<\/small>\u00a0<span title=\"39:43 - 39:46\" data-start=\"00:39:43.396\" data-end=\"00:39:46.292\" data-spk=\"1\" data-label=\"Scot\">The to the pop did not pop.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[39:46]<\/small>\u00a0<span title=\"39:46 - 39:57\" data-start=\"00:39:46.263\" data-end=\"00:39:57.121\" data-spk=\"0\" data-label=\"Jason\">It did it did not I did that in full disclosure I did not buy a pop because again like I don\u2019t I don\u2019t so much by them for their speaker Fidelity I mostly buy them to control my lights and stuff.<\/span><br \/><span title=\"39:58 - 40:05\" data-start=\"00:39:58.082\" data-end=\"00:40:05.191\" data-spk=\"0\" data-label=\"Jason\">But yeah I like I still have to repeat myself multiple times and some rooms to just turn stuff on and it\u2019s frustrating.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[40:06]<\/small>\u00a0<span title=\"40:06 - 40:17\" data-start=\"00:40:05.570\" data-end=\"00:40:16.734\" data-spk=\"1\" data-label=\"Scot\">Yeah so this one was one I wanted to bounce off of you I\u2019m a CNBC junkie and I was watching the other day and Target stock had a big Miss and the folks on,\u00a0<\/span><span title=\"40:17 - 40:24\" data-start=\"00:40:16.771\" data-end=\"00:40:23.693\" data-spk=\"1\" data-label=\"Scot\">Talking Heads were saying that in their earnings release they really called out this shoplifting as a.<\/span><\/p>\n<p><small>[40:24]<\/small>\u00a0<span title=\"40:24 - 40:38\" data-start=\"00:40:24.084\" data-end=\"00:40:38.325\" data-spk=\"1\" data-label=\"Scot\">A problem and they took a one right off of something like 500 million dollars so I\u2019m sure everyone has seen the videos where you know this is just new organized crime kind of wave going on especially in big cities where you\u2019ll see.<\/span><br \/><span title=\"40:39 - 40:44\" data-start=\"00:40:38.662\" data-end=\"00:40:43.757\" data-spk=\"1\" data-label=\"Scot\">20 people go in a store and just run out with arm full of stuff it\u2019s happening to\u00a0<\/span><span title=\"40:44 - 40:52\" data-start=\"00:40:43.643\" data-end=\"00:40:52.224\" data-spk=\"1\" data-label=\"Scot\">starting to kind of luxury then then you saw a little lemon and it happens in Apple Stores and now you\u2019re starting to see it in every day department stores and drug stores,\u00a0<\/span><span title=\"40:52 - 41:00\" data-start=\"00:40:52.374\" data-end=\"00:41:00.047\" data-spk=\"1\" data-label=\"Scot\">so I thought that was you know as e-commerce person I was thinking huh that\u2019s interesting you know I wonder if and kind of\u00a0<\/span><span title=\"41:00 - 41:12\" data-start=\"00:41:00.018\" data-end=\"00:41:12.300\" data-spk=\"1\" data-label=\"Scot\">hi Pro some high-profile store closures have followed from the so Nordstrom closed a store and like San Francisco and that\u2019s kind of thing so I was thinking is e-commerce person I was kinda thinking well this is interesting this is gonna\u00a0<\/span><span title=\"41:12 - 41:25\" data-start=\"00:41:12.126\" data-end=\"00:41:24.546\" data-spk=\"1\" data-label=\"Scot\">this is going to benefit Amazon pretty immensely because as the stores have to close due to this crime wave it\u2019s going to benefit e-commerce and then Amazon like 60% of e-commerce so they\u2019ll just get they\u2019ll just absorb a lot of that\u00a0<\/span><span title=\"41:24 - 41:34\" data-start=\"00:41:24.397\" data-end=\"00:41:34.257\" data-spk=\"1\" data-label=\"Scot\">that that so that the crime is going to have this unintended consequence of getting rid of stores which is bad for for the local environment and then it\u2019ll yeah I don\u2019t,\u00a0<\/span><span title=\"41:34 - 41:40\" data-start=\"00:41:34.336\" data-end=\"00:41:39.828\" data-spk=\"1\" data-label=\"Scot\">yeah I don\u2019t think they really want to benefit Amazon but they will so I wanted to get your hot take on them.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[41:40]<\/small>\u00a0<span title=\"41:40 - 41:49\" data-start=\"00:41:39.762\" data-end=\"00:41:49.364\" data-spk=\"0\" data-label=\"Jason\">Well first of all just to complete your thought the the brick-and-mortar retailers and the national retail Federation would actually say Amazon\u2019s double-dipping on that benefit because they\u2019re both.<\/span><br \/><span title=\"41:50 - 41:59\" data-start=\"00:41:49.827\" data-end=\"00:41:58.516\" data-spk=\"0\" data-label=\"Jason\">Selling stuff when the the stores closed in the big cities but also most of the Retailer\u2019s blame the organized crime on Amazon.<\/span><\/p>\n<p><small>[41:59]<\/small>\u00a0<span title=\"41:59 - 42:08\" data-start=\"00:41:59.099\" data-end=\"00:42:07.836\" data-spk=\"0\" data-label=\"Jason\">So the The Narrative is basically that like you know people here\u2019s who used to steal from stores,\u00a0<\/span><span title=\"42:08 - 42:12\" data-start=\"00:42:07.866\" data-end=\"00:42:11.585\" data-spk=\"0\" data-label=\"Jason\">people that needed something and couldn\u2019t afford it for whatever reason right so they.<\/span><br \/><span title=\"42:12 - 42:20\" data-start=\"00:42:12.067\" data-end=\"00:42:20.359\" data-spk=\"0\" data-label=\"Jason\">Stalled food for their family or you know items they could afford to buy that was individual shoplifting and,\u00a0<\/span><span title=\"42:20 - 42:25\" data-start=\"00:42:20.437\" data-end=\"00:42:25.244\" data-spk=\"0\" data-label=\"Jason\">employees told stuff employee shrink and there now is this\u00a0<\/span><span title=\"42:25 - 42:35\" data-start=\"00:42:25.190\" data-end=\"00:42:35.117\" data-spk=\"0\" data-label=\"Jason\">much higher occurrence of organized crime for profit where where people are stealing you know every bottle of shampoo in the Walgreens\u00a0<\/span><span title=\"42:35 - 42:36\" data-start=\"00:42:34.979\" data-end=\"00:42:36.247\" data-spk=\"0\" data-label=\"Jason\">and\u00a0<\/span><span title=\"42:36 - 42:45\" data-start=\"00:42:36.121\" data-end=\"00:42:45.242\" data-spk=\"0\" data-label=\"Jason\">one of the reasons these big retailers say that this kind of crime is much larger now is it\u2019s way easier to monetize that stuff after you steal it,\u00a0<\/span><span title=\"42:45 - 42:55\" data-start=\"00:42:45.351\" data-end=\"00:42:54.809\" data-spk=\"0\" data-label=\"Jason\">and the reason they say it\u2019s easier to monetize it is you can go sell all of this this still the merchandise pretty easily on Amazon and eBay.<\/span><br \/><span title=\"42:55 - 43:02\" data-start=\"00:42:55.374\" data-end=\"00:43:02.278\" data-spk=\"0\" data-label=\"Jason\">Um so that\u2019s controversial like the marketplace is due a lot to sort of avoid selling,\u00a0<\/span><span title=\"43:02 - 43:10\" data-start=\"00:43:02.441\" data-end=\"00:43:09.651\" data-spk=\"0\" data-label=\"Jason\">um song Goods but that one of the premises why there\u2019s more organized crime is because.<\/span><br \/><span title=\"43:10 - 43:15\" data-start=\"00:43:09.850\" data-end=\"00:43:14.927\" data-spk=\"0\" data-label=\"Jason\">It is easier to fence and monetize this stuff.<\/span><br \/><span title=\"43:15 - 43:21\" data-start=\"00:43:15.126\" data-end=\"00:43:21.086\" data-spk=\"0\" data-label=\"Jason\">But here\u2019s the thing that\u2019s super interesting about that like there for sure is this new kind of crime and it\u2019s.<\/span><\/p>\n<p><small>[43:22]<\/small>\u00a0<span title=\"43:22 - 43:35\" data-start=\"00:43:21.790\" data-end=\"00:43:34.679\" data-spk=\"0\" data-label=\"Jason\">It\u2019s much more newsworthy so when someone drives a truck through the front of an Apple store and then steals all the phones that\u2019s going to be on the local news when someone shoplifts pound of cheese,\u00a0<\/span><span title=\"43:35 - 43:42\" data-start=\"00:43:34.788\" data-end=\"00:43:42.022\" data-spk=\"0\" data-label=\"Jason\">that\u2019s not going to be on the local news right or when an employed as a fake return to embezzle 60 dollars from a shirt like that\u2019s not\u00a0<\/span><span title=\"43:42 - 43:52\" data-start=\"00:43:41.908\" data-end=\"00:43:52.466\" data-spk=\"0\" data-label=\"Jason\">as often on the local news so all of these organized crimes get put on the news and on YouTube and things like that more and and a huge problem is.<\/span><br \/><span title=\"43:53 - 43:59\" data-start=\"00:43:52.965\" data-end=\"00:43:59.070\" data-spk=\"0\" data-label=\"Jason\">Like it\u2019s much more violent people are getting hurt employees and in a few cases the perpetrators are\u00a0<\/span><span title=\"43:59 - 44:09\" data-start=\"00:43:59.046\" data-end=\"00:44:08.786\" data-spk=\"0\" data-label=\"Jason\">are getting hurt or even killed and so like there is a way higher human cost to this kind of crime and so we have heard a bunch of.<\/span><br \/><span title=\"44:09 - 44:11\" data-start=\"00:44:09.009\" data-end=\"00:44:10.697\" data-spk=\"0\" data-label=\"Jason\">Retail CEOs,\u00a0<\/span><span title=\"44:11 - 44:25\" data-start=\"00:44:10.800\" data-end=\"00:44:25.077\" data-spk=\"0\" data-label=\"Jason\">you know raising the alarm bells and they say two things like oh man our losses are going up this is having a material economic effect on our business we\u2019re closing stores partly because of this\u00a0<\/span><span title=\"44:26 - 44:40\" data-start=\"00:44:25.919\" data-end=\"00:44:40.478\" data-spk=\"0\" data-label=\"Jason\">and you know we\u2019re having to change how we do do store operations and and you know all these things they\u2019re also saying that police forces are underfunded and you know don\u2019t have enough resources to\u00a0<\/span><span title=\"44:40 - 44:50\" data-start=\"00:44:40.413\" data-end=\"00:44:50.063\" data-spk=\"0\" data-label=\"Jason\">retailers with this problem so they\u2019re there in many cases you know asking for more more Municipal support here\u2019s the thing though.<\/span><\/p>\n<p><small>[44:51]<\/small>\u00a0<span title=\"44:51 - 45:01\" data-start=\"00:44:50.574\" data-end=\"00:45:00.543\" data-spk=\"0\" data-label=\"Jason\">People have always stolen stuff from retailers there\u2019s always been a line item on every retards p&amp;l for shrink and for most public companies that\u2019s\u00a0<\/span><span title=\"45:01 - 45:06\" data-start=\"00:45:00.525\" data-end=\"00:45:06.029\" data-spk=\"0\" data-label=\"Jason\">that\u2019s a publicly disclosed number and usually,\u00a0<\/span><span title=\"45:06 - 45:18\" data-start=\"00:45:06.053\" data-end=\"00:45:18.474\" data-spk=\"0\" data-label=\"Jason\">for most retailers and it varies by the type of retailer and the the geography but usually it\u2019s one to two percent of Revenue is lost in shrink and so.<\/span><\/p>\n<p><small>[45:19]<\/small>\u00a0<span title=\"45:19 - 45:27\" data-start=\"00:45:19.051\" data-end=\"00:45:26.910\" data-spk=\"0\" data-label=\"Jason\">Target\u2019s announcement was hey we lost we potentially could lose 500 million dollars in profit this year.<\/span><br \/><span title=\"45:27 - 45:35\" data-start=\"00:45:27.265\" data-end=\"00:45:34.902\" data-spk=\"0\" data-label=\"Jason\">And their stock partly went down from because of it like I would argue their their stock also went down for some,\u00a0<\/span><span title=\"45:35 - 45:42\" data-start=\"00:45:34.957\" data-end=\"00:45:42.233\" data-spk=\"0\" data-label=\"Jason\">PR missteps they made and then also because their revenue is just soft compared to some of their competitors,\u00a0<\/span><span title=\"45:42 - 45:52\" data-start=\"00:45:42.348\" data-end=\"00:45:51.740\" data-spk=\"0\" data-label=\"Jason\">they probably went down for that shrink because 500 million dollars in profit sounds like a big deal but if you gross up 500 million dollars in profit to\u00a0<\/span><span title=\"45:52 - 45:53\" data-start=\"00:45:51.656\" data-end=\"00:45:53.248\" data-spk=\"0\" data-label=\"Jason\">product costs,\u00a0<\/span><span title=\"45:53 - 46:02\" data-start=\"00:45:53.315\" data-end=\"00:46:02.009\" data-spk=\"0\" data-label=\"Jason\">that\u2019s one point six billion dollars in shrink at Target in 2022 and they\u2019re saying it could be as high as two billion dollars in shrink in 2023\u00a0<\/span><span title=\"46:02 - 46:11\" data-start=\"00:46:01.829\" data-end=\"00:46:11.425\" data-spk=\"0\" data-label=\"Jason\">that means that shrink is 1.5 to 1.9 percent of targets Revenue which is below industry averages Walgreens,\u00a0<\/span><span title=\"46:11 - 46:25\" data-start=\"00:46:11.468\" data-end=\"00:46:25.294\" data-spk=\"0\" data-label=\"Jason\">has made all of these same complaints and last year the Walgreen CFO like in the earnings call said hey this is a huge deal like our shrink could potentially be up 52 percent from before the pandemic.<\/span><br \/><span title=\"46:25 - 46:40\" data-start=\"00:46:25.493\" data-end=\"00:46:39.758\" data-spk=\"0\" data-label=\"Jason\">Um and then he did his swing 22 year in earnings and Shrink was lower then then the last two years and he literally had to say like maybe we cried too much.<\/span><\/p>\n<p><small>[46:40]<\/small>\u00a0<span title=\"46:40 - 46:53\" data-start=\"00:46:40.221\" data-end=\"00:46:52.738\" data-spk=\"0\" data-label=\"Jason\">So I do think there is this new crime it\u2019s very serious like it is a problem and you know I have great empathy for retailers in addressing that and they shrink should be zero like a butt.<\/span><br \/><span title=\"46:55 - 47:07\" data-start=\"00:46:54.781\" data-end=\"00:47:07.208\" data-spk=\"0\" data-label=\"Jason\">It\u2019s a little bit of a fallacy to say hey there\u2019s this new material economic impact from this shrink that didn\u2019t exist before because the employee shrink is way down because the\u00a0<\/span><span title=\"47:07 - 47:16\" data-start=\"00:47:07.070\" data-end=\"00:47:16.293\" data-spk=\"0\" data-label=\"Jason\">the surveillance and the the big data and in the business process has evolved eliminated a lot of that and so the net shrink for a lot of retailers,\u00a0<\/span><span title=\"47:16 - 47:24\" data-start=\"00:47:16.354\" data-end=\"00:47:24.165\" data-spk=\"0\" data-label=\"Jason\">really isn\u2019t as significant now it might be more significant in particular stores and so some of the the closing of these stores,\u00a0<\/span><span title=\"47:24 - 47:30\" data-start=\"00:47:24.292\" data-end=\"00:47:29.567\" data-spk=\"0\" data-label=\"Jason\">seems at least partially legitimate I will say there\u2019s even controversy about that like when,\u00a0<\/span><span title=\"47:30 - 47:35\" data-start=\"00:47:29.640\" data-end=\"00:47:34.597\" data-spk=\"0\" data-label=\"Jason\">Walgreens has hey we\u2019re closing a store in San Francisco because there\u2019s too much crime,\u00a0<\/span><span title=\"47:35 - 47:45\" data-start=\"00:47:34.658\" data-end=\"00:47:45.311\" data-spk=\"0\" data-label=\"Jason\">the San Francisco Police Department rides in and goes that\u2019s weird because we got way less complaints from from Walgreens last year than we did three years ago or whatever so there\u2019s there\u2019s.<\/span><br \/><span title=\"47:46 - 47:50\" data-start=\"00:47:46.033\" data-end=\"00:47:49.848\" data-spk=\"0\" data-label=\"Jason\">Room for disputes about all this stuff but organized crime,\u00a0<\/span><span title=\"47:50 - 47:59\" data-start=\"00:47:49.957\" data-end=\"00:47:58.657\" data-spk=\"0\" data-label=\"Jason\">is definitely an increasingly serious thing that retailers have to deal with but don\u2019t immediately by all the hype that it\u2019s.<\/span><br \/><span title=\"47:59 - 48:04\" data-start=\"00:47:59.078\" data-end=\"00:48:03.501\" data-spk=\"0\" data-label=\"Jason\">That it\u2019s some you know New Economic strain that retailers have never seen before.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[48:04]<\/small>\u00a0<span title=\"48:04 - 48:12\" data-start=\"00:48:03.862\" data-end=\"00:48:12.226\" data-spk=\"1\" data-label=\"Scot\">I wonder if there\u2019s a bit of a narrative around this shrink number like I you know I\u2019m sure they\u2019re reporting it correctly\u00a0<\/span><span title=\"48:12 - 48:20\" data-start=\"00:48:12.058\" data-end=\"00:48:19.851\" data-spk=\"1\" data-label=\"Scot\">but so I wonder if it has the same store sales effect like let\u2019s say Walgreens has to closed in ten stores because the shrink is so bad.<\/span><br \/><span title=\"48:20 - 48:29\" data-start=\"00:48:20.218\" data-end=\"00:48:29.256\" data-spk=\"1\" data-label=\"Scot\">That comes out of the numbers right because it\u2019s probably a seems to work kind of metric so they probably you know now gold number would improve dramatically but.<\/span><br \/><span title=\"48:30 - 48:33\" data-start=\"00:48:29.629\" data-end=\"00:48:32.963\" data-spk=\"1\" data-label=\"Scot\">They\u2019ve shrunk their footprint like it\u2019s probably not capturing that you.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[48:33]<\/small>\u00a0<span title=\"48:33 - 48:35\" data-start=\"00:48:32.777\" data-end=\"00:48:34.790\" data-spk=\"0\" data-label=\"Jason\">Yeah no agreed,\u00a0<\/span><span title=\"48:35 - 48:45\" data-start=\"00:48:34.832\" data-end=\"00:48:44.963\" data-spk=\"0\" data-label=\"Jason\">all as a Wayne huizenga taught me 30 years ago like it any good healthy retailers should be closing and opening stores every year why there\u2019s like you can\u2019t\u00a0<\/span><span title=\"48:45 - 48:53\" data-start=\"00:48:44.910\" data-end=\"00:48:52.595\" data-spk=\"0\" data-label=\"Jason\">if you had the perfect realist real estate in one year it would not be perfect the next year right and so in many cases\u00a0<\/span><span title=\"48:53 - 49:03\" data-start=\"00:48:52.571\" data-end=\"00:49:03.345\" data-spk=\"0\" data-label=\"Jason\">like they\u2019re closing stores in economically you know unfriendly climates for them and that improves their same-store sales numbers and improves their cops right and\u00a0<\/span><span title=\"49:03 - 49:12\" data-start=\"00:49:03.291\" data-end=\"00:49:12.293\" data-spk=\"0\" data-label=\"Jason\">you know whether they did that for purely economic reasons or they did it because there was more organized crime or to put protect employees or whatever like,\u00a0<\/span><span title=\"49:12 - 49:17\" data-start=\"00:49:12.389\" data-end=\"00:49:16.517\" data-spk=\"0\" data-label=\"Jason\">um it\u2019s not wrong for these retailers to curate their,\u00a0<\/span><span title=\"49:17 - 49:26\" data-start=\"00:49:16.680\" data-end=\"00:49:26.035\" data-spk=\"0\" data-label=\"Jason\">they\u2019re fully in an economic downturn that might mean having fewer stores than last year historically the challenge with that is investors always expect you to grow.<\/span><br \/><span title=\"49:26 - 49:36\" data-start=\"00:49:26.276\" data-end=\"00:49:35.974\" data-spk=\"0\" data-label=\"Jason\">And so infect investors don\u2019t like the story of what of closing underperforming stores and having better comps if you if your overall Revenue goes down so,\u00a0<\/span><span title=\"49:36 - 49:43\" data-start=\"00:49:36.005\" data-end=\"00:49:42.969\" data-spk=\"0\" data-label=\"Jason\">you know this is yet another kind of excuse for them to reset expectations with investors I think I think that\u2019s totally fair.<\/span><\/p>\n<p><small>[49:44]<\/small>\u00a0<span title=\"49:44 - 49:51\" data-start=\"00:49:44.399\" data-end=\"00:49:51.363\" data-spk=\"0\" data-label=\"Jason\">In some cases I will tell you retailers are closing iconic stores that just feels kind of sad like the the,\u00a0<\/span><span title=\"49:51 - 50:03\" data-start=\"00:49:51.424\" data-end=\"00:50:02.570\" data-spk=\"0\" data-label=\"Jason\">Nordstrom flagship store in San Francisco is has always been a big deal that\u2019s closing I lived in Portland Oregon and they had a beautiful REI in the Pearl District which was,\u00a0<\/span><span title=\"50:03 - 50:11\" data-start=\"00:50:02.607\" data-end=\"00:50:10.887\" data-spk=\"0\" data-label=\"Jason\">like a great super friendly place to live and they\u2019re closing that store and they said partly because they didn\u2019t feel they could protect employees like.<\/span><br \/><span title=\"50:11 - 50:21\" data-start=\"00:50:11.194\" data-end=\"00:50:20.790\" data-spk=\"0\" data-label=\"Jason\">That there is something happening that feels like a bummer and there\u2019s a lot of big cities that it feels a lot less fun to go shopping.<\/span><br \/><span title=\"50:21 - 50:26\" data-start=\"00:50:21.013\" data-end=\"00:50:26.084\" data-spk=\"0\" data-label=\"Jason\">Than it did a few years ago which which is I do think a legitimate concern.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[50:26]<\/small>\u00a0<span title=\"50:26 - 50:36\" data-start=\"00:50:26.469\" data-end=\"00:50:35.560\" data-spk=\"1\" data-label=\"Scot\">Yeah so I know you\u2019re the king of all e-commerce and commerce data what are you seeing in the the reports that have come out since our last pot.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[50:36]<\/small>\u00a0<span title=\"50:36 - 50:46\" data-start=\"00:50:35.825\" data-end=\"00:50:46.214\" data-spk=\"0\" data-label=\"Jason\">Yeah well we\u2019ve slowed down a little bit on the frequency the podcast so kind of just super brief recap US Department of Commerce data comes out every month so we\u00a0<\/span><span title=\"50:46 - 50:51\" data-start=\"00:50:46.119\" data-end=\"00:50:50.979\" data-spk=\"0\" data-label=\"Jason\">we have the May report which has data through April next week we\u2019ll get the,\u00a0<\/span><span title=\"50:51 - 51:02\" data-start=\"00:50:51.004\" data-end=\"00:51:01.537\" data-spk=\"0\" data-label=\"Jason\">the May data so January through April sales for all of retail are up 2.4% from last year that,\u00a0<\/span><span title=\"51:02 - 51:11\" data-start=\"00:51:01.556\" data-end=\"00:51:10.521\" data-spk=\"0\" data-label=\"Jason\">that is down a little bit from historical averages pre-pandemic you\u2019d expect retail to be up about 4% a year so 2.4%.<\/span><\/p>\n<p><small>[51:11]<\/small>\u00a0<span title=\"51:11 - 51:18\" data-start=\"00:51:10.774\" data-end=\"00:51:17.528\" data-spk=\"0\" data-label=\"Jason\">Is concerning if you look at it from before the pandemic retail sales are up year-to-date,\u00a0<\/span><span title=\"51:18 - 51:24\" data-start=\"00:51:17.558\" data-end=\"00:51:24.065\" data-spk=\"0\" data-label=\"Jason\">three thirty six percent from 2019 for example so still by historic standards that\u2019s very high\u00a0<\/span><span title=\"51:24 - 51:29\" data-start=\"00:51:23.898\" data-end=\"00:51:28.656\" data-spk=\"0\" data-label=\"Jason\">but this year feels like a meaningful slowdown in sales from last year and of course\u00a0<\/span><span title=\"51:28 - 51:38\" data-start=\"00:51:28.495\" data-end=\"00:51:38.475\" data-spk=\"0\" data-label=\"Jason\">as soon as you start talking about this people go well what about inflation so if I normalize this data for inflation year-to-date sales this year are down three percent from last year,\u00a0<\/span><span title=\"51:39 - 51:43\" data-start=\"00:51:38.566\" data-end=\"00:51:43.258\" data-spk=\"0\" data-label=\"Jason\">which historically doesn\u2019t happen even with inflation so that,\u00a0<\/span><span title=\"51:43 - 51:50\" data-start=\"00:51:43.367\" data-end=\"00:51:49.598\" data-spk=\"0\" data-label=\"Jason\">that is a real concern like it it feels very legitimate that we\u2019re seeing a Slowdown in\u00a0<\/span><span title=\"51:50 - 51:56\" data-start=\"00:51:49.562\" data-end=\"00:51:56.424\" data-spk=\"0\" data-label=\"Jason\">in consumer spending and particularly in inflation-adjusted dollars so I mentioned\u00a0<\/span><span title=\"51:56 - 52:09\" data-start=\"00:51:56.401\" data-end=\"00:52:09.494\" data-spk=\"0\" data-label=\"Jason\">retail sales since the pandemic are up 36% if you adjust that for inflation there up about 14% so less than half of all our sales growth since the pend or more than half of our sales growth since the pandemic,\u00a0<\/span><span title=\"52:10 - 52:24\" data-start=\"00:52:09.633\" data-end=\"00:52:23.886\" data-spk=\"0\" data-label=\"Jason\">has been a direct result of unusual inflation more than typical inflation and then you know people always ask us in particular about the e-commerce numbers again before the pandemic the.<\/span><\/p>\n<p><small>[52:25]<\/small>\u00a0<span title=\"52:25 - 52:32\" data-start=\"00:52:24.842\" data-end=\"00:52:32.449\" data-spk=\"0\" data-label=\"Jason\">Over the last 20 years e-commerce would average around 12 to 15 percent growth a year retail would average three to four percent growth a year\u00a0<\/span><span title=\"52:32 - 52:44\" data-start=\"00:52:32.431\" data-end=\"00:52:44.485\" data-spk=\"0\" data-label=\"Jason\">there was a weird transposition in the middle of the pandemic when people you know finally went back to stores for the first time and slow down their e-commerce bending so like for the only time in my lifetime,\u00a0<\/span><span title=\"52:45 - 52:46\" data-start=\"00:52:44.587\" data-end=\"00:52:46.197\" data-spk=\"0\" data-label=\"Jason\">20:22 size.<\/span><br \/><span title=\"52:47 - 52:55\" data-start=\"00:52:46.516\" data-end=\"00:52:54.688\" data-spk=\"0\" data-label=\"Jason\">Retail sales growing faster than e-commerce briefly that trend has reversed e-commerce is back on top of retail but it\u2019s not\u00a0<\/span><span title=\"52:55 - 53:03\" data-start=\"00:52:54.586\" data-end=\"00:53:03.419\" data-spk=\"0\" data-label=\"Jason\">back to Historic standards so e-commerce year-to-date is up about 7.4% verses 2022 still,\u00a0<\/span><span title=\"53:04 - 53:05\" data-start=\"00:53:03.510\" data-end=\"00:53:04.621\" data-spk=\"0\" data-label=\"Jason\">you know,\u00a0<\/span><span title=\"53:05 - 53:16\" data-start=\"00:53:04.718\" data-end=\"00:53:16.423\" data-spk=\"0\" data-label=\"Jason\">you remember in the pandemic people are talking about e-commerce spiking and then regressing to the mean just want to remind our listeners that\u2019s not true the US Department of Commerce revised some numbers and e-commerce growth.<\/span><br \/><span title=\"53:17 - 53:27\" data-start=\"00:53:16.628\" data-end=\"00:53:26.626\" data-spk=\"0\" data-label=\"Jason\">Has ended up being much more robust than like the Wall Street Journal reported in in in a famous article in 2022 so e-commerce is up about 89 percent since,\u00a0<\/span><span title=\"53:27 - 53:29\" data-start=\"00:53:26.639\" data-end=\"00:53:29.072\" data-spk=\"0\" data-label=\"Jason\">since 2019 and that means.<\/span><\/p>\n<p><small>[53:29]<\/small>\u00a0<span title=\"53:29 - 53:44\" data-start=\"00:53:29.475\" data-end=\"00:53:43.656\" data-spk=\"0\" data-label=\"Jason\">Above and beyond the traditional growth that I would have forecasted for e-commerce we\u2019ve sold an extra six hundred and seventy five billion dollars since the pandemic started so e-commerce still is the biggest winner in this kind of.<\/span><br \/><span title=\"53:44 - 53:54\" data-start=\"00:53:43.963\" data-end=\"00:53:53.781\" data-spk=\"0\" data-label=\"Jason\">Pandemic accelerated spending and it\u2019s you know we\u2019ll get the cue to e-commerce data and about two months it\u2019s going to be interesting to see,\u00a0<\/span><span title=\"53:54 - 54:01\" data-start=\"00:53:53.842\" data-end=\"00:54:00.800\" data-spk=\"0\" data-label=\"Jason\">how it plays out and whether you know the consumer slowdown persist through the end of the year and holiday or whether we start to get a bounce.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[54:01]<\/small>\u00a0<span title=\"54:01 - 54:13\" data-start=\"00:54:01.245\" data-end=\"00:54:13.010\" data-spk=\"1\" data-label=\"Scot\">Yeah and I know it\u2019s June and but you get paid to think about this more than I do so what when clients are saying Jason what are you thinking about holiday 23 Woody tongue.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[54:14]<\/small>\u00a0<span title=\"54:14 - 54:24\" data-start=\"00:54:13.750\" data-end=\"00:54:23.586\" data-spk=\"0\" data-label=\"Jason\">I think on the aggregate I\u2019m not expecting it to be an awesome holiday I think there\u2019s even if,\u00a0<\/span><span title=\"54:24 - 54:33\" data-start=\"00:54:23.593\" data-end=\"00:54:33.399\" data-spk=\"0\" data-label=\"Jason\">the the economy listens up there\u2019s it\u2019s going to take awhile for consumer spending to come back and I think the overall consumer spending\u00a0<\/span><span title=\"54:33 - 54:44\" data-start=\"00:54:33.382\" data-end=\"00:54:44.053\" data-spk=\"0\" data-label=\"Jason\">is going to be you know modest there will be growth but it\u2019ll be low growth and because inflation will still be unusually high like profitability is going to really be,\u00a0<\/span><span title=\"54:44 - 54:52\" data-start=\"00:54:44.198\" data-end=\"00:54:51.913\" data-spk=\"0\" data-label=\"Jason\">be strain for this holiday that being said we are likely to see some clear winners and losers so like not everyone\u2019s going to\u00a0<\/span><span title=\"54:52 - 55:06\" data-start=\"00:54:51.799\" data-end=\"00:55:05.740\" data-spk=\"0\" data-label=\"Jason\">kind of match the industry average and we\u2019ve already had a couple bankruptcies Bed Bath &amp; Beyond used to sell a lot of holiday Goods so retailers are going to fight over you know who wins that customer this holiday and so I do think.<\/span><br \/><span title=\"55:06 - 55:11\" data-start=\"00:55:05.945\" data-end=\"00:55:10.776\" data-spk=\"0\" data-label=\"Jason\">You can expect to see some retailers have a really good holiday and you know,\u00a0<\/span><span title=\"55:11 - 55:22\" data-start=\"00:55:10.896\" data-end=\"00:55:21.640\" data-spk=\"0\" data-label=\"Jason\">I hate to say this for all the small retailers out there but like at the moment the the likely narrative is the biggest best retailers in the ecosystem are likely that too.<\/span><br \/><span title=\"55:22 - 55:31\" data-start=\"00:55:21.869\" data-end=\"00:55:30.527\" data-spk=\"0\" data-label=\"Jason\">Disproportionately win holiday so like if I had to guess I would guess Amazon and Walmart are going to have a pretty good holiday at the expense of the rest of retailgeek.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[55:32]<\/small>\u00a0<span title=\"55:32 - 55:36\" data-start=\"00:55:31.790\" data-end=\"00:55:35.803\" data-spk=\"1\" data-label=\"Scot\">Got it well you\u2019re a Grinch.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[55:37]<\/small>\u00a0<span title=\"55:37 - 55:44\" data-start=\"00:55:36.567\" data-end=\"00:55:43.807\" data-spk=\"0\" data-label=\"Jason\">Yeah I want to be wrong I want to be wrong on that I want to be right on all my year beginning forecast which I can\u2019t even remember what they were.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[55:44]<\/small>\u00a0<span title=\"55:44 - 55:49\" data-start=\"00:55:44.259\" data-end=\"00:55:48.717\" data-spk=\"1\" data-label=\"Scot\">Yeah I\u2019m just kidding you get paid to tell the real.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[55:49]<\/small>\u00a0<span title=\"55:49 - 55:57\" data-start=\"00:55:48.723\" data-end=\"00:55:56.919\" data-spk=\"0\" data-label=\"Jason\">I\u2019d rather I would rather be prepared for soft holiday and then be pleasantly surprised.<\/span><br \/><span title=\"55:57 - 56:06\" data-start=\"00:55:57.178\" data-end=\"00:56:06.161\" data-spk=\"0\" data-label=\"Jason\">I almost hesitate to even bring this up because it kind of feels like it always happens but there there are now some potential new supply chain challenges.<\/span><br \/><span title=\"56:07 - 56:18\" data-start=\"00:56:06.757\" data-end=\"00:56:17.651\" data-spk=\"0\" data-label=\"Jason\">Perking up so there\u2019s there\u2019s some labor disputes our friends the teamsters the unload all the boats on the west coast of America like are threatening work stoppages and,\u00a0<\/span><span title=\"56:18 - 56:28\" data-start=\"00:56:17.801\" data-end=\"00:56:27.740\" data-spk=\"0\" data-label=\"Jason\">you know any disruption in there like has a meaningful impact on how much Goods we have available for holiday and then one I\u2019ve never heard before in my lifetime,\u00a0<\/span><span title=\"56:28 - 56:38\" data-start=\"00:56:27.776\" data-end=\"00:56:38.111\" data-spk=\"0\" data-label=\"Jason\">the worldwide drought is having a material impact on the supply chain what there is not is enough water in the Panama Canal.<\/span><\/p>\n<p><small>[56:39]<\/small>\u00a0<span title=\"56:39 - 56:42\" data-start=\"00:56:39.236\" data-end=\"00:56:42.168\" data-spk=\"0\" data-label=\"Jason\">And so it turns out the way the locks work\u00a0<\/span><span title=\"56:42 - 56:57\" data-start=\"00:56:42.054\" data-end=\"00:56:56.902\" data-spk=\"0\" data-label=\"Jason\">they have to pour a bunch of water into the canal to lift the boats and there\u2019s less water available so the water costs more so it is more expensive to take a heavy boat through the Panama Canal today than it was a month ago.<\/span><br \/><span title=\"56:57 - 57:00\" data-start=\"00:56:57.287\" data-end=\"00:56:59.888\" data-spk=\"0\" data-label=\"Jason\">Because of the price of water which.<\/span><br \/><span title=\"57:01 - 57:13\" data-start=\"00:57:00.670\" data-end=\"00:57:12.862\" data-spk=\"0\" data-label=\"Jason\">It makes sense when you hear it but it\u2019s not something you would I would have thought of and so at the moment the supply-chain wonks are are talking about like you know we might have some unanticipated,\u00a0<\/span><span title=\"57:13 - 57:22\" data-start=\"00:57:13.043\" data-end=\"00:57:22.188\" data-spk=\"0\" data-label=\"Jason\">supply chain cost as you know people have to pay for the constrain amount of tonnage that they can lift through the Panama Canal.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[57:23]<\/small>\u00a0<span title=\"57:23 - 57:26\" data-start=\"00:57:22.501\" data-end=\"00:57:25.998\" data-spk=\"1\" data-label=\"Scot\">Wow learn something everyday and I can check that off my box in it.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[57:26]<\/small>\u00a0<span title=\"57:26 - 57:36\" data-start=\"00:57:26.443\" data-end=\"00:57:35.997\" data-spk=\"0\" data-label=\"Jason\">Nice well that\u2019s probably a perfect place to end it because we have used up our allotted time but even though we\u2019ve been a little less frequent than usual,\u00a0<\/span><span title=\"57:36 - 57:44\" data-start=\"00:57:36.123\" data-end=\"00:57:43.514\" data-spk=\"0\" data-label=\"Jason\">I always look forward to catching up with you and it\u2019s been great to chat but I look forward to hearing how our listeners are doing.<\/span><\/p>\n<p><b data-spk=\"1\">Scot:<\/b><br \/><small>[57:44]<\/small>\u00a0<span title=\"57:44 - 57:57\" data-start=\"00:57:43.653\" data-end=\"00:57:57.005\" data-spk=\"1\" data-label=\"Scot\">Yeah and you know what listeners could do to help us out leave a review we would always love your feedback let us know how we\u2019re doing and if there\u2019s any topics you want to cover and we appreciate you giving us a listen.<\/span><\/p>\n<p><b data-spk=\"0\">Jason:<\/b><br \/><small>[57:57]<\/small>\u00a0<span title=\"57:57 - 58:03\" data-start=\"00:57:57.450\" data-end=\"00:58:03.308\" data-spk=\"0\" data-label=\"Jason\">Scot that\u2019s a great idea and until next time happy Commercing.<\/span><\/p>\n<\/div>\n<p><p><a href=\"https:\/\/dmsretail.com\/online-workshops-list\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-496\" src=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png\" alt=\"Retail Online Training\" width=\"729\" height=\"91\" srcset=\"https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90.png 729w, https:\/\/dmsretail.com\/RetailNews\/wp-content\/uploads\/2022\/05\/RETAIL-ONLINE-TRAINING-728-X-90-300x37.png 300w\" sizes=\"auto, (max-width: 729px) 100vw, 729px\" \/><\/a><\/p><br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A weekly podcast with the latest e-commerce news and events. Episode 306 covers Apple\u2019s WWDC announcements, the latest news in Generative AI, and a first [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1121,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-9602","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-podcasts"],"_links":{"self":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9602","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/comments?post=9602"}],"version-history":[{"count":0,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/posts\/9602\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media\/1121"}],"wp:attachment":[{"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/media?parent=9602"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/categories?post=9602"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dmsretail.com\/RetailNews\/wp-json\/wp\/v2\/tags?post=9602"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}