Welcome to the Property Pods Office Sowers. This is the part of the show where we answer your

questions about business, big tech, entrepreneurship and whatever else is on your mind. If you'd like

to submit a question, please visit officehours.proptymedia.com. Again, that's officehours.proptymedia.com.

First question. Hey Scott and cheers to your team that is listening to all these questions and

audience before you do. I'm class 25 and I'm calling you from Lisbon, although I'm originally from

your wife's home country as you probably hear. Anyway, I know you're a big fan of verticalization,

so I would love to know your thoughts about the verticalization and the quick delivery grocery

market. It doesn't make sense to pivot from the asset-light model of Instacart towards the fully

integrated model that Joker and GoPath pursue and doesn't make sense for dominant grocery retailers

to buy brands like Oakley in order to gain access to their loyal customer group in a market with

increasing customer acquisition costs. I know it's a lot, but I would love to hear thoughts about

the verticalization and the grocery market. Thank you for all your work, the podcasts and the books.

Cheers class. Class from Lisbon, you are living your best life. A German and Portugal. Wow. I

spend a lot of time in Portugal. I have two good friends who have pieced out to Portugal,

two hedge fund guys, and they go surfing during the day and hang out with their family in the

afternoons and they're living their best lives. They live in Keshe-Kyse, is that what it's called?

Anyways, Portugal is becoming the new Montauk or Aspen, I don't know what the term is, but it's

blowing up. Also, some of the highest vaccination rates in the world, I think something like 83%

of the Portuguese have had a vaccination. So good for you or good on you. I'm fascinated by the

notion of verticalization. I was actually thinking about this this morning. Whoever controls

the handoff or the interface with the consumer, the end consumer has a lot of power.

You're seeing Uber is getting into delivering groceries, getting into delivering

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