SHOP 全部观点

Meta launched new devices this week, and Shopify gave them the green light to move forward.

Two days before the Connect conference , the CEO of Shopify described it as an easy and fun way to shop and complete purchases using Muse. This tells me that Muse will no longer just recommend a product, but will complete the purchase process through the Shopify platform without even touching the checkout page, which is kind of crazy, Robert.

Another name associated with this platform is " Shopify". I'm interested to know your opinion, you know , on how Shopify finds itself in this awkward period of software and infrastructure turmoil, but perhaps not as quickly as some had anticipated.

Yes, of course. I mean, I think Shopify is stuck in a debate about whether it will be excluded from mediation or whether it will benefit? Um, I think I'm leaning towards the beneficiaries camp at least in the short term because they have built pathways that allow AI agents to shop efficiently.

They have built this huge catalog that all their merchants can access, which is specially structured data for artificial intelligence so that it can understand what the merchant is actually selling and the payment process is very seamless.

I mean, artificial intelligence will provide these opportunities, but it has to do so in an effective way. He doesn't just want to browse everything on the internet. That will take a very long time.

Yes , so Shopify gives AI agents the ability to connect quickly and process things quickly.

I'm actually working on an updated podcast on Shopify. So, that'll be be coming out in about uh a month or two.

All right. Now, an hour and 40 minutes down and two companies to go. Um, how about we do we do Shopify first? It's a company that was covered a while ago on the podcast.

Um so especially here chat if you know something that we don't know if we're not up to date with this company uh please tell us otherwise Sean do you have an intuition let's say where to put Shopify.

Um I think when we covered it quality is good price was too high. Um I would need to check on the spot basically what we're talking in terms of where the stock has been going. Year to date we're down 7 and a half% that's not too much. 12 months, 6% up.

Um, so we're still trading at a pretty hefty valuation.

Um, interesting Shopify integration.

Shopify by the way is another great stock that thing is is continue to be just very expensive. Uh but is just a tremendous business model. It really really is a phenomenal business model. Um I just wish it were cheaper.

I'm going to have to keep going pretty soon. It's uh se look at this. Look at look at Shopify. Just this is probably the last stock we'll take a look at. 73 times earnings, 12 times revenue. free cash flow yield 1.3%.

But let's just look at some charts for Shopify. Look at this revenue curve. Really, really um fantastic. Maybe these guys can continue to go. I mean, what's neat about this business is they have fees associated with all the money that rolls through, right?

These guys host websites for online businesses. Um, they have tremendous back-end integr integrations and checkout optimizations and membership uh optimizations that make running a business at scale easy for small entrepreneurs.

And now even at even at midsize and large companies can use use Shopify. uh they take a fee. They use Brainree as their merchant processor uh and they get merchant processing fees on every dollar.

So think of them as like an American Express or a Visa that um takes a small percentage of all the dollars flowing through. That's a great business model. If you have trillions of dollars flowing through your network and you're getting fractions of a penny as that cycles through, you don't have to do a lot.

You don't have to sell the goods. That's what your customers do. They sell the goods and you just take a small small rip off all the money that runs through your infrastructure.

And what you have to do is maintain the infrastructure.