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How do you compete and how do you build a barrier around your business? I think the answer is data. I think that the sustainable advantage of a retailer or a digital-commerce business is data. What data can do is to allow you to connect this exploding inventory, exploding selection that we’re all seeing, down to be a highly relevant experience for a consumer.

While from the merchant standpoint incredible selection may seem great, from the consumer standpoint it can be overwhelming. I actually don’t want to shop in a store with a billion items for sale, I’m just looking for this. Data is the way to connect a long-tail advantage with consumers that oftentimes want simplicity.

It’s easier said than done, but you’re starting now, in the industry, to see really good examples of businesses that are using data to their advantage. It’s certainly an incredibly important part of what we’re trying to do here at eBay.