Michael Rubin

2011.

2011.

Yeah.

Yeah.

It would be wrong for me to not say, When I sold the company to eBay for $2.4 billion, I think I had screwed up a lot of pieces of the business and I had actually been a better CEO then. I think the company could have been worth $100 billion. If you think about what we built, we built one of the first e-commerce technology engines. Think about what Shopify is worth today.

It would be wrong for me to not say, When I sold the company to eBay for $2.4 billion, I think I had screwed up a lot of pieces of the business and I had actually been a better CEO then. I think the company could have been worth $100 billion. If you think about what we built, we built one of the first e-commerce technology engines. Think about what Shopify is worth today.

We built an incredible email platform. Think about what exact target that was bought by Salesforce was worth. So if you go through each of the pieces of what I built, I didn't do a great job. So I actually think I failed up. by selling it for $2.4 billion. But I think you're actually giving way too much credit to me In 2011, FedEx was nothing, okay?

We built an incredible email platform. Think about what exact target that was bought by Salesforce was worth. So if you go through each of the pieces of what I built, I didn't do a great job. So I actually think I failed up. by selling it for $2.4 billion. But I think you're actually giving way too much credit to me In 2011, FedEx was nothing, okay?

It was a completely undifferentiated e-commerce site of licensed sports merchandise. And eBay didn't want it because they're like, look, we don't want to be an inventory-owned business. It wasn't a good business. It was nothing business. When I bought it, and it's the only thing I focused on, that allowed us to think about how to really build a strategy.

It was a completely undifferentiated e-commerce site of licensed sports merchandise. And eBay didn't want it because they're like, look, we don't want to be an inventory-owned business. It wasn't a good business. It was nothing business. When I bought it, and it's the only thing I focused on, that allowed us to think about how to really build a strategy.

So the only thing I really thought when I bought the business, I had one giant fear, which is there's this little company in Seattle called Amazon. Have you heard of them? You've heard of them?

So the only thing I really thought when I bought the business, I had one giant fear, which is there's this little company in Seattle called Amazon. Have you heard of them? You've heard of them?

Amazon. I thought if I didn't completely differentiate ourselves against Amazon, we would be dead. So it was really when I bought it, it was like, how do I differentiate the business? And then the strategies kind of evolved as we've gone.

Amazon. I thought if I didn't completely differentiate ourselves against Amazon, we would be dead. So it was really when I bought it, it was like, how do I differentiate the business? And then the strategies kind of evolved as we've gone.

So yes, I know we had to be highly differentiated or we wouldn't be in business because I watched what Amazon did to Toys R Us and Sports Authority, all these other retailers we worked with. So that fear was very helpful. But I think the reality is Um, no, I didn't know what I was going to do with the business. I bought it and just like, it was just that natural compass. Like I'll figure it out.

So yes, I know we had to be highly differentiated or we wouldn't be in business because I watched what Amazon did to Toys R Us and Sports Authority, all these other retailers we worked with. So that fear was very helpful. But I think the reality is Um, no, I didn't know what I was going to do with the business. I bought it and just like, it was just that natural compass. Like I'll figure it out.

Yeah, so first, I don't think what you're saying is accurate at all. Oh, good. All right, tell me. Like, I feel like... Because you feel like you're constantly under attack. In our entire business, across the board, collectibles business, trading cards, sports betting, merchandise, there's tons of competition.

Yeah, so first, I don't think what you're saying is accurate at all. Oh, good. All right, tell me. Like, I feel like... Because you feel like you're constantly under attack. In our entire business, across the board, collectibles business, trading cards, sports betting, merchandise, there's tons of competition.

We are number one. You're number one. You're the market leader. Can I tell you something? Every day, everyone's coming to kill number one.

We are number one. You're number one. You're the market leader. Can I tell you something? Every day, everyone's coming to kill number one.