Thinker, Professor in Digital Marketing, Innovation & Entrepreneurship. (Urban Dad, Indie Rock, Food & Wine, Video Games, Science & Science Fiction IRL. Shhh!)
New York, NY
Joined February 2009
- Tweets3.5K
- Following2K
- Followers1.9K
- Likes146K
Jeremy Kagan 🇺🇸 retweeted
I have spoken out against anti-Muslim hate in the Michigan Senate race. I will speak out just as loudly when the target is Jewish people.
Let me state a little-known fact: ISRAEL GETS LESS THAN 0.1 PERCENT OF THE FEDERAL BUDGET. That’s less than one tenth of a percent!
But there is an ad running that tells voters they can’t afford groceries because the United States gives so much money to Israel. In reality, the United States spends money in and on countries all around the world – but this ad singles out the Jewish state. The ad is as dangerous as it is dishonest.
You can disagree with how the United States spends money abroad. But telling hungry families that the Jewish state is the reason they are suffering is wrong and shameful.
Blaming Jews for people’s problems is an old story. Anybody who has read the last century of history knows where it leads. It is a dark pathway.
This ad is anti-Jewish hate and should come down immediately. Abdul El-Sayed should denounce it today.
Jeremy Kagan 🇺🇸 retweeted
If @AbdulElSayed truly means what he says about treating the Jewish community as he would treat his own children, then he would immediately condemn this dangerous ad as outrageously antisemitic and demand that it be taken down.
If not, then he’s full of shit.
New low for normalized Jew-hate in the American Democratic Party. Very sad:
Painting your political opponents as puppets of Jews, as this El-Sayed ad does, and as crazed baby-killers and money-grubbing villains who are the root cause of every bad thing not just in the world, but in your life—from wars to the price of eggs to the reason you can’t have free healthcare—is not just low-grade Jew-hate. It’s pure Third Reich stuff, translated directly from the original German.
Do you remember when Jewish Democrats in Michigan explained that they would vote for El-Sayed despite his open disdain for Jews, since there are many other important issues they need him to fight for? That anything was worth it to “defeat MAGA”?
Well, here’s El-Sayed’s answer to them: Don’t worry, all those issues we agree on, like healthcare, inflation, and climate change, I’m going to make them about Jews too! I will tell the public that the Jews are the reason they can’t have those things.
Jeremy Kagan 🇺🇸 retweeted
Walled Gardens for the best, Hedged Gardens for the rest.
Pinterest just opened its ad inventory to Amazon, Google and Yahoo's DSPs, three days before earnings.
On Monday, Pinterest made Programmatic Deals generally available across the Americas and Asia Pacific. Buyers can now access display and video inventory through Amazon DVA+, Google DV360 and Yahoo DSP, with Magnite as the primary SSP. PMPs and preferred deals are live; programmatic guaranteed is in testing.
Ad Revenue Grows, But Revenue per Impression Stalls
In Q2, Pinterest grew ad impressions 16%. Ad pricing grew just 1%. Revenue rose 18% to $1.2 billion, but Q3 guidance calls for slightly slower growth of 13% to 15%. ("Ad pricing" is Pinterest's blended average price per ad: ad revenue divided by impressions, across every buying model (CPC, CPM and others) and every region. )
With 640 million monthly users and over 80 billion searches a month, Pinterest has plenty of engagement. Its challenge is getting advertisers to pay more for it.
The quickest way to attract buyers is to plug into the platforms they already use. Most trading desks live in DV360 and Amazon. This distribution deal lets Pinterest tap into that ready-made demand.
The international opportunity
In Q2, Pinterest generated $8.30 in quarterly ARPU in the US and Canada, versus $1.35 in Europe and $0.23 elsewhere.
Programmatic offers a relatively inexpensive way to monetize international users without building a sales operation in every market. My bet is that international markets offer the greatest upside.
Curiously, Europe is absent from Monday's launch, despite management discussing third-party demand testing there on its Q2 earnings call.
Winners, losers and risks
Magnite is an obvious winner. Pinterest inventory is also available through Magnite Orchestration, its infrastructure for buyer and seller agents.
Amazon benefits too. A Moroccanoil campaign bought through Amazon Ads and Magnite reportedly delivered 15% incremental reach, just 1% audience overlap and 63% more new-to-brand buyers. Company-reported figures, so to be taken with a grain of salt, but directionally compelling ones for media planners nevertheless.
The Trade Desk is conspicuously absent from the named DSP partners.
But the additional distribution comes with a price: Once inventory becomes accessible through multiple DSPs, buyers can compare their price and performance against other media. PMPs and preferred deals give Pinterest some control over pricing and access, but buyers will still demand competitive economics.
Pinterest's advantage is its unusually strong intent signals. People use it to plan purchases, often before choosing a brand. Preserving the value of those signals will be critical. One thing to keep in mind: almost three quarters of Pinterest users are female, the cohort of 18- to 34-year-olds being the biggest sub-group.
What I'll watch on October 29
Pinterest reports Q3 earnings Thursday after the close. I'll be watching three things: whether ad pricing accelerates beyond low single digits, how much third-party demand contributes, and when Europe joins the programmatic rollout.
@AmazonAds, @Google, @magnite, @Pinterest, @TheTradeDesk, @Yahoo
Jeremy Kagan 🇺🇸 retweeted
Walmart’s MCP server is generally misunderstood; it doesn’t provide carte blanche catalog / transaction access and, if anything, is further support for the idea that Agentic Commerce is a Mirage.
First, Walmart is allowing third-party agents to *connect to Sparky*, its own on-platform agent. This is an agent-to-agent gateway. Walmart retains the consumer data and first-party consumer relationship. And Walmart exercises fundamental control over product discovery and recommendations if Sparky is the agent interface.
Second, autonomous checkout is permitted only under Walmart's conditions. Consumers must authorize the agent through their Walmart account and establish permissions and spending limits, which Walmart enforces. To use the Gateway, the consumer must connect their agent to their Walmart account by authenticating directly with Walmart. So Walmart continues to accumulate user-level purchase data for use in a) the product recommendations returned by Sparky and b) Walmart Connect.
Third, third-party agents are restricted from using Walmart’s data for any purpose that could possibly intermediate Walmart. From its terms:
An Agent or its Deployer must not: (a) conduct systematic or bulk scraping, collection, storage, or other use of Walmart Proprietary Data; (b) retain Walmart Proprietary Data beyond what the Permitted Purpose reasonably requires; (c) use Walmart Proprietary Data to generate content, target advertising, create synthetic data, train models, or produce commercial analytics, reporting, or data-licensing products; or (d) license, resell, syndicate, or redistribute Walmart Proprietary Data to any third party.
Walmaet’s agent gateway relegates external agents to distribution interfaces, and it preserves Walmart's first-party consumer relationship and advertising economics. This isn’t a strategic embrace of third-party agentic commerce.
I was going to publish about this last week but got sidetracked by $META earnings. Post going live tomorrow.
I wrote a few weeks ago that Amazon blocking agents would be an opportunity for Walmart. Now Walmart is building an MCP server so agents can shop there directly.
Amazon has a huge ($50B+), high-margin ads business to protect. Walmart has a much smaller ecom business, and thousands of physical stores.
Walmart also cares about being disintermediated, but even if an agent does the shopping online, people will still walk into Walmart stores to buy things.
So Walmart has another way to maintain that relationship with customers, while potentially picking up some of the purchases Amazon is turning away.
xitter.cf/jgreze/status/21049883…
xitter.cf/TechCrunch/status/2112…
Jeremy Kagan 🇺🇸 retweeted
My quick takeaways on the Anthropic S-1:
1. This is a historical moment
2. $6.6M in revenue per employee!! Hard to even comprehend how good that is but Anthropic is AI native as it gets so makes sense.
3. I always thought OpenAI would drop their S-1 first
4. Customers spend about 9x more after a year. Net Revenue Retention is approximately 900% as of Sep 30, 2026. Good SaaS companies brag about 120%.
5. Cowork is growing faster than Claude Code did. Goes to show you the demand for consumer products. Duo will probably rip.
6. 3 years ago this company did $41M in revenue. In the first six months of 2026, it did $16.3 billion. I don't think anyone has a mental model for that curve yet, I sure don’t.
7. Nearly half of revenue comes through cloud marketplaces. About 48% comes from customers buying through them. Big companies buy where their budget already lives, and the lesson for founders selling to enterprises is to get listed where your buyers already spend.
8. Their run rate formula is published: the last 28 days of usage times 13, plus subscriptions times 12, which i guess is the new ARR math for founders?
9. It looks like They're merging Cowork into Claude dot au which tells you the chat box era is ending and the "go do the work for me" era is here.
10. Thousands of Anthropic employees are about to become liquid at once, so expect the biggest wave of new AI startups and angel checks San Francisco has ever seen. Reminds me when Facebook went public but this is way bigger.
Let’s go!
11. Buried in the filing, Anthropic says the gap between what Claude can do and how widely it's used is one of its biggest growth opportunities, so the company itself is telling you the models are ahead of the market and someone has to close that gap for dentists, landlords, and plumbers.
12. Whatever happens, exciting times to be building in AI.
Anthropic has filed an S-1 registration statement with the SEC related to its proposed IPO.
Read more: anthropic.com/news/s1-sec
Legal disclaimer: A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This post does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Jeremy Kagan 🇺🇸 retweeted
Aquí tienes el lanzamiento de Fastlane (“Claude for Ads”). La promesa es brutal: pegas la URL de una marca, analiza los anuncios ganadores del mercado, genera miles de variantes (UGC, remixes de competidores, estáticos, memes…), los lanza en Meta, mide resultados y crea más versiones de lo que funciona. Todo en minutos.
La realidad es menos mágica de lo que vende el vídeo, pero tampoco es humo.
Lo que sí hace bien
Es de los pocos que cierran el círculo completo: investigar → crear a volumen → lanzar → medir → iterar. Para marcas de consumo que viven de Meta y no pueden producir creatividades suficientes para testear, esto comprime semanas de trabajo de un equipo junior o de una agencia pequeña. El coste de generar estáticos es bajo y el de vídeo es más alto, pero sigue siendo mucho más barato y rápido que UGC tradicional.
Lo que no hace (aún)
No es un “AGI para ads”. Las piezas siguen necesitando ojo humano (muchas se notan generadas), el lanzamiento de pago está centrado en Meta, y la estrategia de alto nivel (posicionamiento, oferta, audiencia profunda, creatividades de marca) no la resuelve sola. El sistema de créditos se acaba rápido si abusas de vídeo.
Para la gente que trabaja en publicidad
Si tu trabajo principal es producir volumen de creatividades, hacer research básico de competidores y lanzar tests en Meta, esto ya te está comiendo parte del valor.
Si tu valor está en estrategia, criterio, relación con el cliente, entender el negocio y decidir qué merece la pena testear (y por qué), esto te multiplica. Puedes hacer más con menos gente o cobrar mejor por el criterio en lugar de por las horas de producción.
Jeremy Kagan 🇺🇸 retweeted
Someone built an $18.7M ecommerce business selling compression socks to women over 50.
And it's making $3.7M a year in profit. Insane!
The founder launched in 2024, selling comfortable compression wear that helps with tired legs, swelling and everyday discomfort.
And the numbers are incredible.
> $18.7M TTM revenue
> $3.7M adjusted EBITDA
> $2M revenue last month
> 20% EBITDA margins
> 216K+ active email subscribers
All through a single Shopify store.
Pretty incredible what founders can build by finding a specific customer with a problem they're willing to pay to solve.
Now live on @acquiredotcom.
Full listing: app.acquire.com/startup/lUA8…
Jeremy Kagan 🇺🇸 retweeted
🚨 CHINA IS FACING A GENERATIONAL CRISIS, AND THE NUMBERS ARE ABSOLUTELY TERRIFYING.
China's economy is struggling so badly that millions of young people are finding it almost impossible to build a stable future.
According to The Wall Street Journal, a generation that grew up believing hard work guaranteed success is now facing unemployment, layoffs, falling wages and growing financial pressure.
And the numbers are shocking.
• Youth unemployment among 16–24 year olds has reached nearly 19%, almost double the U.S. rate of 9%.
• Unemployment among 25–29 year olds stands at 7.5%, compared with China's overall rate of around 5%.
• A record 12.7 MILLION students graduated from Chinese colleges this year, entering an already struggling job market.
• China's urban employment is estimated to be 37 MILLION JOBS BELOW where it would have been if pre-pandemic job growth had continued.
• One Chinese economist estimates that the country's broader unemployment rate could actually be around 10%, nearly double the official figure.
But unemployment is only part of the problem.
China's property market collapse has destroyed jobs in construction, real estate and related industries.
Major technology companies, including Alibaba and ByteDance, have reportedly been cutting staff.
And now AI is making the situation even worse.
According to the WSJ, some of China's biggest employers privately estimated that AI could eliminate 30% OR MORE of their existing jobs.
A study covering 700 MILLION job postings found that AI has hit hiring demand particularly hard for workers with just 1–3 years of experience.
Even entry level jobs that once helped graduates start their careers are disappearing.
Meanwhile, the number of Chinese workers in temporary and gig jobs is expected to jump from 280 MILLION in 2025 to 320 MILLION in 2026.
That would represent more than 40% of urban employment.
And the impact is already spreading beyond the job market.
Young people are delaying marriage, avoiding having children and moving back in with their parents because they cannot afford to live independently.
Some are even giving up on traditional careers altogether.
China spent decades building an economy where each generation expected to become wealthier than the last.
Now millions of young people are questioning whether years of education and hard work are even worth it.
This is a serious problem for the world's second largest economy.
Weak employment means weaker consumer spending, fewer families being formed and even more pressure on China's already struggling property market.
The biggest danger for China isn't just slowing economic growth. It's an entire generation losing confidence in its economic future.
And if millions of young people continue to struggle to find stable jobs, China's economic problems could become much harder to fix.
Jeremy Kagan 🇺🇸 retweeted
You want to know what desperate looks like?
Blaming the price of bananas on Israel.
Consider this PAC ad just another example of scapegoating the Jewish state. At least we can thank them for a case study in antisemitism.
Jeremy Kagan 🇺🇸 retweeted
10 years? Maybe one, while the Russian occupation policy of murder, rape, torture, and kidnapping would expand immediately. Putin needs war. There’s no off-ramp, no victory other than the destruction of Ukraine. He cannot reintegrate a million soldiers back into a failed economy.
Jeremy Kagan 🇺🇸 retweeted
Hope you're proud of yourself.
Hey @grok.
Which 20th-century political party most prominently claimed its people were suffering because an out-group was draining national resources and harming them?
Jeremy Kagan 🇺🇸 retweeted
My friends were all talking about prepping so I made a survival LLM. A free app that runs an AI mdoel plus 1.5 million offline articles (medical guides, FEMA, survival manuals, wikipedia) entirely on your computer. No internet needed.
brangus.io/survival-llm
Jeremy Kagan 🇺🇸 retweeted
When I warned in a recent column that antisemitism would lead Americans to blame Israel for grocery prices, just like I saw growing up in Egypt, I thought it would take years. Not weeks.
The Strawberry Plot ideas.tikvah.org/mosaic/colu…
Jeremy Kagan 🇺🇸 retweeted
Founders Fund II is in a league of its own
a $220m fund from 2007 that has created $37.4bn
that's 183.5x per dollar at risk. The median across 408 ranked funds is 1.3x
1️⃣ Founders Fund II, 183.5x, @SpaceX
2️⃣ Bullet Time Ventures I, 53.3x, @Uber
3️⃣ Founders Fund III, 52.2x, @PalantirTech
more than 3x any other fund on the list. INSANE
Source: @JoinOdin via @hkanji
Is this skill or one SpaceX-sized bet? @foundersfund
Jeremy Kagan 🇺🇸 retweeted
😂 Everyone rediscovering commercial software development from first principles xitter.cf/hustle_fred/status/211…
4 months ago I cloned Airtable for a client in 5 days because they refused to pay Airtable $500/mo
months later, I’m still maintaining it
every two weeks it’s another edge case, a UI tweak, or a "quick 10-minute request." They’ve easily spent 10x more in headaches than the $2,000 they would’ve paid Airtable
just proving that SaaS isn't dead. Cloning isn't enough, if you want it to be same quality as original it becomes a full time job
and at this point isn't it easier to just pay?
Jeremy Kagan 🇺🇸 retweeted
On the same day you can have a massacre of 300 people in Sudan and the IDF shooting one gunman in Jenin. The Israeli shooting will be the headline in every major news site on the world, the Sudan massacre will only be reported in obscure telegram groups. Why is that?
Jeremy Kagan 🇺🇸 retweeted
Yesterday, Islamists entered a church and slaughtered over a half dozen Christians in Jordan.
Cenk Uygur? Silent.
Mehdi Hasan? Silent.
Ms. Rachel? Silent.
Jeremy Kagan 🇺🇸 retweeted
This is one of the most antisemitic things I've ever seen in a political ad, and it's for Abdul El-Sayed. The message: your life is hard, groceries are expensive, and the Jewish state is why. Total madness!
This is one of the most comical ads this election cycle. Yes, Americans are chatting at the grocery store about how they can’t buy groceries because their tax dollars “go to Israel” 🙄 😂 nevermind the fact that Israel has invested 100% of military aid in the U.S. economy since Oct 7, and has also purchased over $1 billion *additional* in arms, according to DoD. Federal military aid is also prohibited from being spent on anything other than U.S. arms, so the line about healthcare is even more comical. El Sayed and his Islamist fans like Cenk Uygur want and expect American voters to be so stupid they never check.
Not only is this ad insane, conspiratorial, and antisemitic — it is also flat out false. El Sayed isn’t for the people of Michigan, he isn’t even for America. He is for the Muslim Brotherhood.
Jeremy Kagan 🇺🇸 retweeted
Google Search Console has AI visibility data! We have been going through a very painstaking and manual process of gathering and analysing that data for a number of our tests where there was a strong AI visibility hypothesis.
Punchline: we're detecting AI visibility impacts with statistical confidence for the first time.
Ever since we rolled out experiments that focused on AI clicks the top question we've been asked is "what about visibility?".
Well...
One problem with most AI visibility tracking is that there is no way to tell whether the numbers are changing because of things you did, or just because of <gestures wildly>.
Look at the purple line in this chart - growing both before and after the website change (dotted line) - it's only by running a controlled test where a control group is unchanged (producing the pink forecast line) that we can see that there is causality. The change we made helped!
The purple bar shows the uncertainty but also the statistical confidence with credible interval.
This is a big deal!
