michael jaconi is our guest. health move our apps. there is a thing about e-commerce.or joining us. first of all, the turnaround in ebay seems to be working. looking back to your experience, are they going at it the right way? michael: thank you so much for having me. i'm not the ceo, but the director of the division. the experience there, what we were amazed by was the power of the market dynamic. ebay relying on it sellers is really the blood of the system there. you have immediate scale. you see amazon dipping more into their marketplace business, and this is because it enables a beautiful scale dynamic where anyone anywhere can list and sell products, and that empowerment was something i knew that we pursued, but i know it is fueling a lot of the ebay growth and success. caroline: apologies there. you are ahead of loyalty i believe. michael: yes. caroline: let us know about how you see the off-line to online world. our some of the players getting it when it comes to online retailing? michael: you are seeing an evolution where people are starting to recognize that t