Tyler Crowe

But at the first glance of the results that I looked at, I was like, they're pretty good, right?

Matt, what did they say?

The one thing I did notice on that EPS miss was it looked like it retired some, I can't remember if it was preferred shares or convertible debt, which on a GAAP basis doesn't look good.

But overall, when you're doing those things, it's a good idea.

Again, I'm not 100% plugged into the expectation games for Shopify, but I thought the numbers looked fine.

John, what was said on the conference call that made the market go, hey, wait a minute, what's this?

To follow up, I want to toss this to both of you.

No.

1, are you Shopify investors?

If so, was any of this thesis between the numbers and between what they said in the conference call, is this thesis-altering stuff or just market jitters?

Or maybe if you're not a Shopify investor, does this make you more or less likely to buy?

As the host who doesn't spend as much time with Shopify, I'm going to default to you guys on this one.

After the break, we're going to take a look at Moderna's bridge over troubled water here.

Earlier this week, we learned that the FDA refused to consider Moderna's recent flu vaccination for approval.

Based on some of the reporting from the Wall Street Journal, the decision wasn't without controversy.

And this is the second time in a year that the current administration has kind of come down against Moderna.

Back in May, the Department of Health and Human Services canceled a $590 million contract to develop an mRNA vaccine against avian flu after issuing the contract five months prior.

Now, I bring this up, both the flu vaccination refusal to consider and the avian flu grant cancellation, because these vaccines were what management considered their bridge treatments that it would use to fund its earlier stage vaccinations for things like cancer and rare diseases, where it really wants to go with its mRNA technology.

And without it, it will have to rely on the revenue it gets from its current commercial products, which are its COVID vaccines.

And it has, I think, one flu vaccine right now.