Caroline Hyde

We've already announced deals with Perplexity and more recently with ChatGBT.

where brands on Shopify can sell directly in those conversations.

No links, no redirects, just sort of this very seamless experience directly in the chat.

And so I think we're going to see a lot more of that.

Now, what permutation eventually wins?

We're not sure yet, but we'll be ready for it.

But the other side of it is really interesting, which is that brands, the merchants themselves are using AI to support them on the biggest shopping season weekend of the year.

So we have something called Sidekick, which is the AI assistant built into Shopify, which knows everything about merchant stores, knows everything about Shopify.

And we've seen over 100 million conversations with Sidekick.

So merchants are able to do things like design, copyright, market, create these incredible analytics dashboards where they can decide where to spend in a much more sophisticated way.

And so it's giving smaller merchants a real leg up against the bigger guys because this AI empowers them.

I want to go back to tariffs, Harley, but with a slightly different way of asking the question.

You can look at overall spend, but the question we're asking ourselves in the Bloomberg newsroom is, are consumers still spending and getting less in return?

So what are the data sets that you're tracking that evidence that impact of tariffs, either through a diminished spend or same level of spend, but you just get less for it?

We actually measure both consumer confidence, but also consumers' appetite to spend at checkout.

And so far, I mean, as we speak right now, Ed, $2.5 million are going through checkout every single minute.

So we've operated through all types of macro environments, and our focus is always the same, which is support merchants.

And I think what we're seeing, though, is that, you know, whether during the pandemic, for example, we introduced tools like, you know, contactless delivery back in 2020.

Well, now we're creating tools to help merchants navigate cross-border tariffs and navigate sort of some global uncertainty to make sure they have everything they need.

So we're not complacent about this.