Live commerce is 30-40% of all commerce in China but single digits in the US because the Western experience is fundamentally broken.

0:00If you look at e-commerce today, you have to know exactly what you're looking for. >> Live commerce is over a third of all commerce in Asia. Is that right? >> 30 [music] to 40% of all commerce is live commerce in China. >> What is it in the US today? >> Single digits really. The experience is really broken. Transactions weren't integrated well. Shipping wasn't payments, discovery, CX, and we just

0:20thought we could build a better one of those. >> I want to start all the way back when you were a kid. Your first online sale was a a [snorts] holographic Pokemon card. >> At [music] that point in time was when like eBay was getting started and I was like, "Wait, you can make money from Pokemon cards? Like I love Pokémon cards and I can make money from doing it." The

0:38first one sold for 10 bucks. [music] That's probably the true origin stories of whatnot. >> Users spend 95 minutes a day on the platform. >> Yeah, about 95 minutes. >> It's incredible. >> Users don't give a about the market. They care about whether they're going to enjoy the [music] thing. It provides value and that's the experience that makes it fun and keeps you coming back. >> What are the most exciting things that