Pinterest Inc at Goldman Sachs Communacopia & Technology Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Eric Sheridan - Goldman Sachs - Analyst : <_ALACRA_META_ABSTRACT>Okay. So the Safe Harbor is behind us. July 30 does seem like a long time ago, but that was earnings, I guess. It's been a very long summer at least in my world. Bill, thank you for doing this. I really appreciate the opportunity to have a conversation. You had an investor event last year. We've been going through 2024. To level set for the audience, why don't you walk us through your key strategic priorities for Pinterest in the coming years?

Question: Eric Sheridan - Goldman Sachs - Analyst : Okay. All right. Really interesting stuff, and there's a lot that we're going to follow up on that and maybe mine from that as a jumping off point. But first, I think away from AI, the number two theme at the debate so far has been the broader macro environment. So what are you hearing from advertisers in terms of recent performance and the outlook for the second half of '24? And maybe how do you view the competitive landscape in terms of advertiser looking across places where they can allocate budget?

Question: Eric Sheridan - Goldman Sachs - Analyst : Okay. Very clear. You talked earlier in your answer on strategic priorities about engagement. Maybe talk a little bit deeper about where you've been taking engagement on the platform? At what point does increasing ad load have a negative effect on users? You talked about ads as content in your first answer. And this is a question we get a lot from investors. So talk a little bit about your efforts around engagement and then also tying content back to engagement as content.

Question: Eric Sheridan - Goldman Sachs - Analyst : Well, following up on that last point and bringing it back to your first answer. I want to talk a little bit about lower funnel drivers in the business. Can you talk about the success you've had with some of the lower funnel advertising tools? So I'm talking there about mobile deep linking, direct links, you've recently announced Performance Plus. And how should investors think about the timeline for when positive results on clicks and conversions start to translate an increased budget allocation from those efforts?

Question: Eric Sheridan - Goldman Sachs - Analyst : Okay. You've announced a number of third-party partnerships over the last 12, 18 months. Maybe pivoting to that as a topic, what are your key learnings across those partnerships? What inning are you in in terms of scaling and revenue contribution? And how do you see those partnerships evolving over time? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 11, 2024 / 3:10PM, PINS.N - Pinterest Inc at Goldman Sachs Communacopia & Technology Conference

Question: Eric Sheridan - Goldman Sachs - Analyst : Okay. Understood. I want to turn to artificial intelligence. You guys have been at the forefront of a lot of AI and machine learning. In my opinion, things like visual search and computer vision jump out. Can you walk us through how you're leveraging AI from a user and the monetization perspective and touch more on the broader long-term strategy around AI for Pinterest as platform?

Question: Eric Sheridan - Goldman Sachs - Analyst : Okay. So that's an example really interesting about how you can take AI and drive a lot of improvements in your own business. A pivot on that that's probably one of the biggest debates I get or questions I get from investors is in a world of digital advertising, you are competing with other companies that are either hyperscalers or spending money like they're hyperscalers. They're spending tens and tens of billions of dollars on AI. Maybe bring it back to the competitive landscape. So how do you see AI the propensity to spend versus bringing it back to competition and where Pinterest fits into that world view?

Question: Eric Sheridan - Goldman Sachs - Analyst : Okay. I know we're going to have a few minutes left. So I'm going to try to squeeze one more question in. You talked earlier about Gen Z as a percentage of your base. I think 40% now of your base, fastest-growing demographic. Why do you think the platform is resonating with Gen Z?

Question: Eric Sheridan - Goldman Sachs - Analyst : Okay. We are going to have to leave it there. Bill, thanks so much for being part of the conference. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. SEPTEMBER 11, 2024 / 3:10PM, PINS.N - Pinterest Inc at Goldman Sachs Communacopia & Technology Conference