Back in 2017, Shopify’s GMV was only ~10% of Amazon’s estimated GMV. Given the way Shopify is growing, it seems likely that it will be half of Amazon’s GMV by the end of next year. To go from just ~10% of Amazon’s GMV to half of Amazon in just a decade is a remarkable feat! It’s not like Amazon has been struggling to grow during this period; it’s just that Shopify has access to a reservoir of growth that is somewhat inaccessible to Amazon retail which is helping Shopify close this gap quarter after quarter