Jonathan Snow, DMD

Just spent 10 hours straight at KeyBank’s Emerging Technology Summit with institutional investors in big tech. The #1 obsession? Agentic Commerce. The biggest DTC shopping shift in history. My POV and what's on everyone's mind 👇

This is obv a huge deal, came sooner than expected. Real question now is.. how good is it? The examples shown here are very good. But cherrypicked & could have had human intervention. If the vids provided to brands are anything close to this, it's a major breakthrough.

@nickgraynews @pitdesi @zachware @SamHollander_ I’ve already saved $2k+ in last 6mo with Repriced. Def check it out

@pitdesi @zachware @SamHollander_ ok cool! will do. have you looked at this one? x.com/iamdansnow/sta…

@pitdesi do you still like and recommend Autopilot for flight savings? I remember you rec'd it - and my friend @zachware said he's been using it and likes it - was going to include in my newsletter

Who's at SXSW this weekend in Austin? (msg me if so) Avenue Z is taking the stage with Profound to debut the first live AEO and AI Search audit for brands, revealing how ChatGPT, Gemini & more interpret and recommend companies in realtime. AI is reshaping product discovery & influencing consumer buying decisions. 💥 If you’re attending, come join us and see how frequently & in what context your brand shows up in LLMs.

@dennishegstad I was in SF last week. Saw even crazier things on receipts

Why am I being charged w 4% wellness tax at the proper hotel bar 😂

@JonahLupton They should 100% buy SNAP

Several weeks ago $APP mentioned they were looking to build their own social media/networking platform.. however details are very light so it's still unclear what their actual gameplan might be. Am I crazy to think they should just buy $SNAP ? Before I get into the numbers... I am well aware that $SNAP founders own 90% of the voting shares (so an acquisition or activist could get blocked very easily), the SBC situation is egregious, the company has too many employees, the margins kind of suck, the product has not evolved fast enough, the user base skews much younger. With all that said... I still think this makes sense for $APP if they are serious about owning a social media asset which gives them direct access to the supply side. $SNAP still has a massive audience... 475M DAUs, 650M WAUs, and 950M MAUs. $SNAP reaches 80% of people between the ages of 16-25 years old in the US and many parts of Europe. $SNAP is still expected to do $6.7B revenues this year with $1.05B of ebitda and $873M of net income. $SNAP is currently trading at 9x NTM ebitda and 12x NTM net income. Using CY2026 estimates... $SNAP currently generates $1.2M revenues/employee, $200k ebitda/employee, $166k net income/employee $APP currently generates $8.9M revenues/employee, $7.5M ebitda/employee, $6.9M net income/employee. $SNAP has a market cap of $8B $APP has a market cap of $155B $APP could pay a 55% premium for $SNAP... costing them just 8% of their market cap $APP could layoff 1/3 of the employees, improve the adtech stack, and boost margins dramatically over the next few years... obviously I'm oversimplifying this. Using some base case assumptions... fast forward to CY2028 and the combined company could be doing $24-26B of revenues with blended ebitda margins in the 50-60% range... with a 22-28x ebitda multiple... $300-350B company. Am I crazy to think this makes more sense than $APP building their own social media platform? **We do have a very small position in $SNAP which we started this week, just in case a deal like this actually did come to fruition.

@laurenbalik I must say your account is highly entertaining 😂

Even if you don't believe me, odds are I must know something. Applovin's $APP new report released today on 3/11 may not be what it seems. Yes, the report has nice data visuals to support the idea that audiences are more than just women, and that the audiences are half male. However, we must take it one step deeper. $APP is naked. I am not afraid I'm afraid. 🙏

Just read the Kantar mobile gaming report. What surprised me most: the audience. AppLovin has been rumored to skew to an "older female" audience. In reality, the survey revealed: - 52/48 split Female:Male - 47% of users are < 35 years old Yes, the survey was only 2500 ppl deep, but representative enough to draw conclusions. Other interesting findings: - 70% make most household purchase decisions (vs only 60% in gen pop) - 71% say ads in mobile games are positive experience (I guess they aren't scammy ads after all 🤔) - 38% purchased a product w/in 3 months of seeing a mobile game ad. 71% of them purchased same day - 71% shop online weekly, 77% spend $100+/mo online Overall, mobile gaming audience apparently has higher spending power/autonomy, are more educated, and more employed than the general population. Gamers are fairly representative of the US adult population, not just a niche audience as some previously thought. The mobile gaming saga continues!

Another one bites the dust. Florida 📈

@TreyTitone Their partnership seems fairly meaningless at the moment without any direct placement options and virtually no measurement available

Less than a month after launching ads, OpenAI has already partnered with Criteo and is in talks with The Trade Desk. I wrote about why this is the smart short-term call, what the Netflix/Microsoft parallel teaches us about how this ends, and what Criteo and TTD should do now. 👇

@oliviaakory @aripap @eric_seufert That’s how I view it right now

@drsnow @aripap @eric_seufert So then if I’m buying Criteo am I just accepting that my efficiency gets worse because I’m buying a bunch of unmeasurable media?

OpenAI integrating with Criteo and maybe TTD. @aripap @eric_seufert we need a pod on this. My questions: 1. Do advertisers get any conversion data back through the integration? If not, how do I think about evaluating a performance ad network like Criteo? Just carve out the OpenAI spend and don’t measure it? 2. I’m reading Ari say “it may be product listing ads from their retail product, which would fit the contextual model very well.” What is Criteo’s retail product? 3. If we can buy OpenAI via DSPs I am assuming this opens up geo testing 👀

Everyone is talking about this AI slop for content created and distribution, so figured id finally ape in. The first AI creator I made within the first 7 days had: • 1,000,000+ organic views • Tens of thousands of DMs • Thousands of new users acquired for my software • $0 spent on promotion Here’s what actually worked:

ChatGPT's Instant Checkout is a goner. 6mo ago: “Buy products directly inside ChatGPT” Now: no native checkout This does not mean agentic commerce is dead. They just realized they don't want to get into the checkout game, which comes with a whole can of worms. (Just ask Meta) This is a very good thing for Shopify merchants: - ChatGPT will still be recommending products, but now should be displaying referral links directly to brand PDP's at a higher rate than it has been historically. - By giving the power back to brands to control their own checkout, it gives brands more visibility into how ChatGPT fits into the user journey (new vs returning customer or website visitor, 1st vs last click, etc). - It also doesn't rule out the possibility an agent would still be able to eventually checkout on a Shopify site. - More margin for brands now since they won't have to worry about additional 4% seller fees. Now that Instant Checkout is out of the equation, OpenAI's main monetization focus now turns to ads. This also means they better figure out how to make them performant and scalable. Brands still must be visible in AI Search in order to get recommended, this update does not preclude that.

“AppLovin only has older females” Think again!

Just spent 10 hours straight at KeyBank’s Emerging Technology Summit with institutional investors in big tech. The #1 obsession? Agentic Commerce. The biggest DTC shopping shift in history. My POV and what's on everyone's mind 👇

Axon's AI-generated end cards have been impressive, but the real hurdle is actually the full screen video ad. If they can solve for that, look out. However, I have doubts they will. Firmly believe 3rd party tools will produce better genAI assets (especially video) than any singular ad platform b/c of the ability to integrate multi-platform data for inspo & feedback loops. I believe Axon is better off eventually partnering with 3P tools to deliver on this.

Digital media company Avenue Z acquires e-commerce developer Varfaj - South Florida Business Journal bizjournals.com/southflorida/n… via @SFBJNews Miami Digital Media Acquisition and Combination MiamiAI and MiamiTech Acelerartion and Dominance @MiamiFloridaCom @eMergeAmericas @SuperGrok @Grok

@CoryOnBrand 😂

@drsnow This is all AppLovin's fault

We've probably reached peak human intelligence. Next generations will rely on AI to think for them, make decisions for them, solve problems for them. The human brain develops in response to increased thinking, learning, and experience. In scientific terms, this is called neuroplasticity. There's something to be said for learning how to do long division the old school way, finding derivatives of a function, and beating your head against the wall until you understand something. Putting your brain through the ringer and solving complex problems ultimately yields better-decision making and a more intelligent human. What's more worrisome than AI potentially "taking everyone's job" is actually that humans only get dumber and more robotic from here. Kind of a vicious cycle: People use AI more People get dumber AI takes people's jobs AI gets stronger People use AI even more & continue to get dumber AI > Human Ultimately the question is, will AI be able to make better decisions than a present-day smart human? I'm not so sure. If not, we've not only reached peak human intelligence, we've potentially reached peak universal potential.