By Drew Ianni
September 24, 2020
The State of the Industry with Mark Mahaney
We are always thrilled when we can talk with our friend and colleague – and one of the industry’s leading Internet analysts – Mark Mahaney of RBC Capital Markets. Mahaney has won every analyst award there is to win and his coverage across the industry is prolific. Mark and his team currently cover 23 stocks across the consumer Internet sector and he joined us as our guest at a recent CDX Digital Roundtable.
When I asked Mahaney about the macro market signals he is following and observing he noted that several of the companies in his coverage area “are big enough that they are macro signals in-and-of-themselves. When eBay talks about 20% year over year in gross sales in the month of April and they do about 50 billion to 60 billion in gross sales a year…(that’s) pretty sizable. Amazon’s even more sizable – they’re a couple of multiples higher than that and they are talking about an outlook for accelerating growth.”
Looking ahead, Mahaney noted that there are, and will be, “structural winners” as we emerge from the COVID crisis and into a new consumer economy. In discussing the shift to digital consumption which was well underway pre-COVID, Mahaney added that the current crisis has “took two years of the secular shift and jammed it into two months.”
You can view the full interview below: