Pinterest Inc Q1 2023 Earnings Call Transcript

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

Question: Lloyd Wharton Walmsley - UBS Investment Bank, Research Division - Analyst : I'm going to stick with this. The Amazon partnership and general partner monetization theme and perhaps drag you into the weeds here, Bill. But we talked to a lot of investors about this, who just don't understand the basic nuts and bolts of it. So to the extent you can elaborate more about how the Amazon partnership will work with the other like retail media network partnerships? How they'll work from a nuts and bolts perspective? Like is this Amazon kind of deploying their advertisers' budget on Pinterest? Is it also Amazon deploying their own budget or all of the kind of clicks kind of drive people back to Amazon? Anything you can share to just help explain at a basic level, how it's going to work in practice? And then the second one related to this is just like thinking about the geographical benefit of this and other partnerships. I guess our impulse has been to think that you all have been kind of slow to migrate the ad business outside the U.S., and there's a lot of markets where you have a lot of engagement already, but you just don't have a big ad business yet. Is there any reason to think you can't leverage these partnerships to get kind of like a U.S. market share level of digital and other international markets on the back of these? Are we right to think that's one of the big benefits of these partnerships?