Tyler Crowe

Matt, let's start with you.

Matt, I want to dig a little bit more into what you were mentioning about this being an investment-heavy phase for the company.

This is something that I found a little peculiar.

As I was looking through the press release, I was looking at the financial statements.

This is where something feels different for me, and I'm trying to figure it out.

It has lots of cash, and it also holds a lot of equity in long-term investments in other companies relative to the total balance sheet of its size.

I would expect a high amount of investments in other companies.

If it was an insurance company or something like that, going out and making investments

investing in the float but this is an e-commerce software and platform company that's looking to invest in its platform looking to you know build out better multi-channel solutions for its clients as well as you know fending off this world of ai like how does shopify fit in this world of ai and yes the company throws off a lot of free cash flow and it has more than its needs and so

holding onto equity is not a big deal, but three quarters of its balance sheet is either cash equivalents like treasuries or investments in other companies.

Now, considering the quarter, missing earnings expectations, being in this investment heavy phase, as you mentioned, it seems like something's not squaring here is either management's, I would say like distracted by, you know, side quests of owning other companies rather than dedicating and allocating that cash back into the business to build out what it wants to do.

Now, Lou, I want to start with you, and then we'll get to Matt.

That's fair.

Again, in the vacuum, less familiar, you see all these equity investments.

You're like, that doesn't make a lot of sense.

The one thing I would point out, though, is that this is a company that does use a lot of stock-based compensation.

Throwing off a lot of cash while throwing off a lot of stock-based comp, maybe start using some of that cash to pay some investors, or pay your employees and let the investors not get diluted as much.

I wouldn't argue against that at all, Tyler.

Coming up after the break, Amazon's daring move into supply and logistics.

The transportation and logistics industry kind of got rocked yesterday after Amazon announced it was launching Amazon supply chain services that would allow third-party businesses to use Amazon's existing supply chain network that it uses for its internal shipping and transportation and all that stuff, and allow those third-party businesses to basically latch on and use these services just like it was previously