joining us now to break down the results, harley finkelstein, shopify president. ey, i remember speaking with toby and he said any time anyone talks about the share price in the office, well, everyone has to be bought doughnuts. harley: tidbits to be specific. caroline: yeah, harley, i mean, what does it feel like when you see the shares down that hard? harley: oh, i mean, we've always managed the business in a long-term way. what we actually is i came on the show and i spoke with ed about. this new shape is unlocking our potential. we're helping all different types of merchants take more and more of our products. we generate almost $2 billion of revenue that was up 23% year-to-year. and very important, this macro environment, we have a free cash flow for the quarter. it doubled from q-1 of last year. so you're seeing one of the best versions of shopify with a ton of opportunities whether it's enterprise, physical retail, international. we are very excited about what we did in q1 and the future of this company. ed: harley, the anxiety from investors about fitting m

. >> we're going to speak to harley finkelstein the forecast is the forecast i don't want people at homeo think, you know what -- >> the forecast here calls for pain >> well, what are you, mr. t >> yes, i can be i love mr. t >> mr. t was pretty great. >> jim points out some of the moves we're getting based on guidance today shopify is one good example, down 18 on -- is it gross margins down quarter on quarter? >> 50 basis points going back and forth with harley ahead of the interview because i want to know my stuff when i see a stock going down like this if you have any sort of chink in your forecast, this market is blowing you up david wasn't here yesterday for the disney blow-up >> no, but we were on air together >> you have to figure out whether it's chemical warfare, h-bomb, or conventional weapons, and i think it was a combination of all three because they mentioned the parks had a little weakness >> you came in, got the number, maybe even a better number you expected in terms of direct to consumer, but you were reminded that the biggest contributor to earnings is the parks, even th

. (♪♪) abigail: coming up, harley finkelstein the shopify president joins bloomberg tv at 11:00 a.m. it's time for our daily wall street week conversation. david westin spoke with former u.s. treasury secretary steven mnuchin at the milken institute global conference in los angeles. they spoke about the health of regional banks and tiktok. >> i've been in the banking business for a long time during the financial crisis i bought three banks and credit the largest bank in southern california. i've known new york community bank for the last 10 years. this was a merger of three institutions. then coming together, they didn't have the proper procedures for hundred million dollar bank and they ran into issues with real estate. we raised over a billion dollars of capital and a large portion of that will be to build robust reserves. we've come out with a three-year plan to restore profitability to the bank. by the end of 2026, the management team will deliver on a plan they guess the bank to 11-12% return. and 11-12% to make a well-capitalized bank. david: have you learned anything about the

harley finkelstein, the founder of shopify a lot of people use your brand without realizing you havese you have friction-less ecommerce trade. >> shopify is a global leader. our biggest market is north north america, but the second is europe on the quarterly earnings call, i talked about the gmv which grew 36% year on year. that is higher than the rest of the world. we think europe is a great opportunity to grow for shopify. we see all of the luxury brands which are beginning to digitalize it is driven by consumers. 50% of consumers expect digitally abled brands we are here meeting with the luxury houses and working with them to come on shopify. i have a big announcement coming up on stage in a little while. >> i see you as mom and pops coming on the ecommerce universe are you saying your base is broadening out >> we have the millions of stores on shopif yy. we are the second largest in north america. we are growing in europe we are more than small business. we have the larger, luxury brands coming to us. on stage in a little bit of time, i'll announce one of the greatest luxury bran

they had the story when we had harley finkelstein on, they said, don't worry about it goldman said, they'rere money that wasn't self-evident now they're spending the money and getting results, and i like that i like this call because this stock's been crushed, but a lot of the consumer product companies still use it, and their deal with amazon is very positive amazon likes them, which i always think funny, but amazon likes to be -- they're a big tent company, even as there are elements of our government thinks they're not notice how i did that? >> on that point, jim, this report that kate rooney brought us on -- actually, it was out of d.c. -- on the cfpb and affirm and all the buy now, pay laters. >> i thought that was hilarious. they want to regulate it like credit card. it's not down a lot. affirm deserves a little better. when you have no fees, why should i regulate you the same as someone who has fees? that doesn't make sense. >> we had max on, and he repeated his longstanding argument that they are smarter about delinquencies and chargeoffs and weakening consumer balance sheets than w