Whatnot

“When you want to build a new marketplace, you either have brand new, unique supply that no one else has. Or you have better pricing that no one else has. That's Timu. Or you have just a much better fun experience, and that's what not. If you deliver something …”

“Specifically what not. Which is actually making shopping more of an entertainment product and less of a transaction product.”

“If you look at a lot of what's happened, again, in e-commerce over the past 20 or 30 years, is it got so efficient, and one of the ways to make it so efficient is to obscure who you're buying from, and obscure the ability for people to, like, build brands and …”

“If you looked at what not last year, we did, you know, over a billion in sales, and so far this year, we've done over a billion in sales, and we don't, we take a small fraction of that.”

“Most people don't, like, you know, greater than 80% of people don't purchase on a given day. They're just there watching, having fun.”

“And so golf on whatnot is having a huge surge, you know, that's growing hundreds of percent year over year, and we have all these golf shops selling, and so that's, you know, another, another fun category that I've been buying it, and the team's been investin…”

“I mean, women's fashions, women is now our biggest category.”

“If someone goes over top on, I don't know, building an AI avatar, people aren't gonna come back to them. Right. Yeah. It's not good business. Because the core of whatnot is you visit a shop, you know the shop owner, and then you know the people who frequent th…”

“I think anything that someone would build a retail shop around would work on whatnot.”

“Tens of millions of people use whatnot every year.”

“Users don't give a shit about the market. They don't care about the market at all. They care about whether they're gonna enjoy the thing. It provides value. And so there, there's this counterintuitive thing, which is if you build, try and build a market, it of…”

“Trust and safety in particular on whatnot is about 40% of employees.”

“And so I think that, that value prop means if you're a business you know, selling consumer goods I think you're eventually gonna get into live commerce. I don't think you're gonna be able to ignore it.”

“Now, maybe we'll launch in some more countries. We'll do some cool stuff like cars. You know, eventually we'd like to get into liquor, beer, and wine.”

“Logan got ahold of the guy who had whatnot. And he, the guy goes, I'll sell it to you for a Bitcoin. So, I was an early Bitcoin investor, so I had Bitcoin. And Bitcoin back then was worth 10,000 dollars, so not like what it's worth now. And Logan haggled him d…”

“The biggest businesses on whatnot are probably doing upwards of a hundred million dollars in, in revenue, and, you know, with, like, very strong EBITDA margins, 2030, 40, Plus percent.”