Whatnot

“And the average person watches 80 minutes.”

“A lot of why you collect is not necessarily for the object, but to sort of hang out and talk to people about your interests.”

“I mean, it was pretty much came out of nowhere, and then was doing hundreds of millions of dollars in sales on whatnot. It still is, I think.”

“And I did the first live stream because we, you know, we gotta like make sure it works. And I sold 5000 dollars worth of Funko Pops in two hours.”

“So the one, the future category I'm most excited about, it's still early innings, is food and drink.”

“Our initial pitch was basically A social commerce like marketplace for Funko Pops, which are like little vinyl dolls. And that was it. You can, that's what's in the YC application. And we didn't have any idea we were going to do video.”

“Although we had no idea. Yeah. We literally had no idea.”

“Like, say, TikTok, amazing product, but people are going there to, like, watch videos, not necessarily shop, and I think that pattern's really hard. So we've always believed there's opportunity for a player who's purpose built to be world class at shopping and…”

“I don't think we've ever grown under, like, you know, top line sales. I mean, revenue's probably never grown under 90% a year. In the entire history of the business.”

“I would say the dominant sort of theme in, in fashion is probably like old season inventory or overstock.”

“You know, our trust and safety and customer, Experience team's probably our biggest team at the whole company, so we do take this stuff, like, very seriously.”

“And so the handful of people who are in the tippity top tier, You know, you're looking at operations with like a hundred plus employees at this point. So pretty big.”

“So unlike any given day, the vast majority of people who are watching do not purchase anything.”

“Almost the first three or four years of the business, we basically just focused on collectibles and enthusiast categories which we sort of broaden out maybe like if you're into cars and things like that. And it was fundamentally because these categories, peopl…”

“In core ranking systems I haven't seen anything yet that's, like, much better than the state-of-the-art machine learning models. So I'd say we're, at least in core ranking systems, probably not a lot of LLMs.”