Jon Quast

I wouldn't go that far.

I wouldn't say that I'm convinced of the Trade Desk's long-term ability to compete right here in a changing landscape.

I would also lean value here with PayPal.

But as you point out, what is kind of interesting right now with PayPal is there are so many players in this space.

It kind of feels like it is a pioneer, but it kind of feels a little bit stodgy at this point.

And so it's like, is PayPal losing its relevance?

I mean, it's single-digit revenue growth.

That said, it still is a

free cash flow machine, and it is reducing that outstanding share count by a material amount that can move the needle over the long term.

If it can just hold on to what it has and maybe even grow a little bit from here, I think it does work out okay for shareholders.

That's so good.

I think if you look at, yeah, hims and hers, the business, if you're looking at the stock and saying, oh, I want to buy shares because it's so cheap, I don't think that's the right thesis.

I think that you have to say, do I understand what this business is attempting to do?

Do I understand the risks and the hurdles that it's going to have to climb over to get there?

I think that needs to be your fundamental approach to hims and hers.

So I would say that if you're looking at the valuation, that's leaning more towards trap.

You really do need to understand this business because it's not a no-brainer.

It's not a for-sure thing to happen.

I wish there was.

I really do.