Jon Quast

eBay ad revenue is now 18% of its total revenue.

Booking saw 11% advertising revenue growth in 2025.

These are digital platforms with large user bases.

They have scale, and they are enjoying this advertising revenue boom.

Amazon, you could throw this in here as well.

I think this trend is something that is going to continue.

Businesses have these bases of users that it can sell this advertising slot to.

When it comes to the debate of the financials of an insurance company, I will trust Matt and Tyler to provide much more important commentary than I. But let me put this out there from just a layperson's perspective.

I think that if you're listening to this and you say, I'm not sure about Lemonade's financials, one thing that I would look at is its net promoter score.

I don't know how recent this is, but at one point it was 70.

If you know how the net promoter score works, that is incredibly high.

The insurance industry as a whole

kind of averages in the negative when it comes to net promoter score.

Maybe you look at it today and you're like, the numbers don't attract me so much.

Gap profits do make a difference to me.

I am more interested in Progressive.

But I don't think this is a company that you should take off of your watchlist entirely, because it does seem like its customers really do love it.

It has 3 million now, almost, and it's growing fast.

I think that at the very least, you keep it on the watch list and keep an eye on Lemonade because it seems to be doing something that its customers actually love.

When it comes to buy now, pay later, I'm not a user myself, and it's tempting to just wave my hands at a company like Klarna.