Dan Caplinger

It's going to come from my holdings of the high tech stocks that are profiting from all this stuff.

So in many ways, it's a career hedge in a way that before I kind of shied away from it as a career concentration.

Yeah, that seems to me to be how retail has evolved, is that retail has figured out that in many ways, they can't do things based on their traditional model.

They need to take advantage of these intermediary platforms that expand their visibility, widen the scope of their products.

I mean, I've got

local retailers here who do business across the country, even across the world.

But they wouldn't have been able to do that if they didn't have Shopify, if they didn't have Amazon, if they didn't have relationships with these bigger intermediaries.

And yeah, they give up money in order to have exposure to that.

So far, it's been profitable for them, or at least more profitable than just having the local business.

I worry over the long term if take rates continue to go up, if Amazon, eBay, Shopify keep trying to get bigger fractions of that dollar.

Is there a point where their retail partners, the folks in the trenches, finally decide, you know what?

You're not leaving enough for us.

We're going to get out of that.

It's like, are they killing the golden goose as a result of that?

I don't think we're there yet, but I do look for that as a potential future risk.

You know, I think I kind of share Asit's thoughts about this.

It's easy for me, easy for a lot of people to focus on things that aren't going well.

You know, prices are up, housing's expensive, lots of things are challenging today.

But even in those tough times, what I kind of fall back on, what I see a lot of other people falling back on too, is just how much support you can get when you're going through a tough period.

It seems like