EP222 - RBC Mark Mahaney on Amazon Episode 222 is an interview with Mark Mahaney, Managing Director at Royal Bank of Canada (RBC). RBC is Canada’s biggest bank, and one of the largest in the world based on market capitalization. Mark is one of the top internet analysts in the world, being ranked #1 by Institutional Investor Magazine numerous times. His research on the e-commerce space are all must reads. In this interview, we discuss his new research note on Amazon, raising their price target to a Street-high $3,300 based on the impact of Covid-19 on it's business. In this broad ranging interview, we discuss Covid-19, Amazon's retail business, it's ad business, amazon web services, logistics, as well as competitors, Shopify, eBay, Etsy, and Chewy. http://jasonandscot.com Join your hosts Jason "Retailgeek" Goldberg, Chief Commerce Strategy Officer at Publicis, and Scot Wingo, CEO of GetSpiffy and Co-Founder of ChannelAdvisor as they discuss the latest news and trends in the world of e-commerce and digital shopper marketing. Transcript Jason: [0:24] Welcome to the Jason and Scott show this is episode at 222 being recorded on Tuesday June 9th 2020 I'm your host Jason retailgeek Goldberg and as usual I'm here with your co-host Scot Wingo. Scot: [0:39] Hey Jason and welcome back Jason Scott show listeners today on the show we are really excited to have someone that is ripped from the headlines. While we were doing our little pre-show I Got a notification that Amazon had an all-time high right now at 2 5 5 2555 eight five five so that's interesting number and here we are in episode 2 2 2 I don't know what all that means I'm sure there's some some conspiracy theory in there and that's because yesterday one of the top internet analysts put out a comprehensive internet Report with some really juicy survey data and as part of the outcome of that he raised his price Target to a street high of $3,300 for Amazon so we've been trying to get on the show and it worked out that because of this report we were able to get him on here real quick so we're really excited to have rbc's managing director Mark mahaney as our guest welcome mark. Mark: [1:31] Hey good to be here thank you Scott. Jason: [1:33] Mark we're thrilled to have you and obviously Scott and I are both super familiar with you and and read all of your stuff but for some of our listeners that may not be as familiar with you can you give us the kind of. The quick highlights of your career and what you do for RBC. Mark: [1:50] Well I'm the oldest and longest lasting internet analysts on Wall Street I say that when I walk into Starbucks I still don't get a discount. But it is true I started in 98 the first week was his company called the eBay that called the office that where I worked at Morgan Stanley and was trying to get through to the lead analyst and they wanted somebody to understand and listen to the story and so I did my best to try to understand it way back then shortly thereafter. I met Scott Wingo so you know both of those were key events in in my life and I've tried to understand. Internet stocks for the last 20 20 22 years now. So that's that includes the e-commerce giants like Amazon and eBay and some smaller named Stitch fix and chewy online ad names like Google and Facebook Snapchat Pinterest and then a bunch of interesting one off so the travel names like booking in Expedia Netflix Spotify like media subscription names like that so I've got a group of there six of us in San Francisco we do our best to stay on top of each of these stocks it's a fascinating industry and that's what that's the day job. Jason: [3:01] Fun fact understanding eBay is really difficult but understanding Scot Wingo is even more challenging. Mark: [3:11] Yes. Scot: [3:12] Yeah and he hasn't Mark you haven't aged at all. Mark: [3:15] That's right same you and me we both actually look younger. Scot: [3:18] Absolutely yeah I think we can agree on that so let's dig in this report you put