Jon Quast

I think it's valuable.

And so this isn't the most headline grabbing company out there.

It's not a no brainer.

I'm not saying it's a no brainer, but I find Mobileye very interesting for a variety of possible futures here.

I think the third-party aggregators are here to stay.

So your Ubers, your DoorDashes, your Instacarts, I think they're here to stay.

There is a possible future in which the new technology comes online and disrupts them.

I concede that point, but I do believe that they're here to stay.

I'll use Airbnb as an example here.

If you own a short-term vacation rental, you can go direct to the consumer.

You can have your own website.

You can have your own mailing list.

You can do all of this.

And many of your vacation property owners do have systems in place to collect this consumer data and to bypass Airbnb so that they can make more money and not give Airbnb its take rate.

However...

By and large, these properties remain on Airbnb because that is where the consumer is.

That is where the traveler is.

And as much as you try to get away from it, you can't avoid it, even if you're a really good property.

And so I really see that being kind of your trajectory of where the space is going.

Yeah, I think that everyone's going to want to try to move away from the third party aggregators, but getting away from it in practical terms, I don't think they're going to be able to.