Ryan Cohen

It's something that is going to happen fast, fast, fast because I'm putting leverage on this thing and I don't want to run a leverage business.

So I'm not going to run it hard.

I'm going to pay down the leverage and I'm going to increase earnings.

They're spending $5.5 billion on operating expenses on an $11 billion business that

has no inventory, and it's asset-light.

So there's 11,500 employees, and it doesn't make sense.

You don't need...

Yeah, and Twitter is a good example.

I mean, what really happened at Twitter was that the advertisers, you know, I don't know what the situation is now, but they pretty much conspired against him.

And, you know, it had nothing to do, my understanding is it really had nothing to do with the cost cuts, more of just the advertisers conspiring against him because of the

demented political landscape and the fact that people apparently are against freedom of speech and so like you look at the usability of the platform and the teams the engineering teams are much smaller and they're innovating a lot faster so it's actually the opposite the more people you add the more you slow things down and the fewer people you have of the more

It's like a startup.

You've got to always be in startup mode and you build big teams and nothing gets done anymore.

Yeah.

I mean, I think about all of the things that can disrupt the business in the future and

I think that eBay is the kind of business where the future of the business model is more certain than most tech businesses.

And that's why it's done so well.

And there's been such a lack of innovation, yet it hasn't been able to be disrupted.

So I would expect that to continue to be the case.

Yeah, I mean, I'm gonna, I'm gonna do whatever we need to do to protect our investment and to improve the business.