Sarah Nassauer

Have you talked to him since recently?

Have you gloated to him a little bit?

That was 2016, the Jet.com acquisition.

It was $3.3 billion that they spent, and they put the founder of that company, Mark Lurie, at the head of their US e-commerce operations and brought in a bunch of folks who were Jet employees as executives to run their e-commerce operations.

While Jet itself did not survive in any way, and I think there's a lot of debate about whether or not it made sense to make that acquisition, it's clear that it changed the culture internally.

It made it clear that this was a priority.

And you did start to see their e-commerce sales grow pretty quickly.

And that also sort of like changed the narrative, right, around like, well, maybe Walmart can grow online.

Maybe they are going to actually try to figure this thing out.

So that was another important inflection point.

It's the country's largest grocer.

One of the key ways that Walmart grew so fast over the last 10 years is by figuring out how to sell groceries online.

Like you can order online and you can pick them up in the parking lot or have them delivered to your home.

And you pay the Walmart store price for those groceries.

And that has been a massive success.

You know, in some ways, it's a very, very different place.

The company has grown online.

It's still much smaller than Amazon online, right?

But it's grown, and it's grown strongly from a massive base.

It's gotten more high-income shoppers to shop there more often, which is a big transition it's never really pulled off in the past.