5/11/2023

speaker
Michal Kofman
CEO

you'll see that. You'll obviously see that in active buyer probably first before spend per buyer. In terms of your question about AI, you're right. It's very hard to understand what categories or how categories might be influenced. I think that there's one principle that I've shared in my opening remarks, which I think is very important, and this is how we view this, which is that AI technology is not going to displace our sellers, but sellers who have better grasp and better usage of AI are going to out-compete those who don't. And this is not really different than any meaningful advancement within technology. And we've seen that in recent years. Every time when there's a cool new technology or device or form factor that sellers need to become professional at, those who become professional first are those who are actually winning. And we're seeing the same here. So I don't think that this is a different case. It's just different professions, which, by the way, is super exciting.

speaker
Elliot
Moderator

Our next question comes from with JP Morgan. Your line is open.

speaker
Wes
JP Morgan (on behalf of Doug)

Hey, this is Wes on for Doug. Thanks for taking the questions. You know, active buyers have been relatively stable. Could you maybe just parse out kind of what you're seeing in different cohorts, rather, you know, larger businesses versus small or higher value versus lower value? And then secondly, on margins for the year, you know, how should we think about seasonality of expenses? Would you be pulling back on marketing and things like that? Thanks.

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