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00:00Lawyers for Facebook Google and Twitter will appear on Capitol Hill tomorrow to answer questions about Russian meddling in the US presidential election. Amazon is not part of that probe but increasing scrutiny of the tech industry in Washington could raise antitrust questions for the e-commerce giant. Joining us now for more insight is Shay Hong. He is the CEO and founder of box. Great to have you in New York. Thank you for having me back. So what do you think about this. Do you think that needs to be more regulatory oversight of these big tech firms. We'll talk about that before we dig down to it. It's interesting because I have my real view and the view that I want to say now and then it will come and bite me in about later on that's all I got really. Tell us what you think. Well I do think so to a certain extent right. I think as you're looking at kind of the position of Amazon for example the fact that they can just put a simple press release out there or file a simple trademark application and have an entire market react with billions of market cap loss I think there's something to that. And whether that's needs to be corrected by the market sentiment in general whether most folks in the market will eventually just see oh you know this more bark than bite or whether that's a legislative action we'll see in the future do you see any kind of evidence that a company like Amazon is engaging in anti-competitive behaviour. I don't see outside of potentially what they've done in the past with some of the acquisitions and it's well documented and and in and Brad's book The Everything Store in terms of kind of their past acquisition practices. But in general currently now it's really a conundrum because what you would say is that they try to lower prices they try to inject more competition to the marketplace yet they have an ability to move markets solely by by themselves so right now in a vacuum potentially no. But when you look at the swirl of events and and their M.O. kind of in the past and now TBD. Right. And right now in fact about 55 percent of all product searches began on Amazon which has surpassed Google. That's been something that's a lot of attention unwanted attention on Amazon. How do you raise your company's profile box profile in this kind of environment when Amazon dominates. What's really interesting is that yes they they are dominant. But there's still some market share left for for for the rest of us especially in places like B2B and so for us. Boss we ship toilet paper a large format only anywhere in the US but the reality is a big part of our business is actually now business the business. So take for example the green here at Bloomberg or down in the beautiful atrium here. There's just hundreds of different snacks for everyone here to eat and to enjoy. Certainly the folks who have stock that pantry aren't going on Amazon and clicking like skinny pop chips like 400 times you know. And so I think for us it's really finding those niches where Amazon is not as strong and really going after it. It's interesting I read something the eat said about actually some of your best customers in what you called the breadbasket regions of America populations with 50 thousand people maybe even less at times to just to go back to exactly what you were saying that you think that insulate it from the likes of Amazon because logistically they they don't really care about going to those to a certain extent but to your guys point for it it just offers more opportunity for folks like us because there is quite a lot of opportunity out there whether it's here in the cities or especially out in those rural areas that you mentioned because you look at our business for example there's 30 million folks in the US that don't live within 30 minutes drive of a Costco. And so those folks it's whether they like Costco or not it doesn't even matter because though the brand is ubiquitous the locations are not. And so that's how Scarlet Fu your point that's how we've been able to grow so quickly we went from forty thousand dollars in sales in 2013 to my garage and last year trailing cleared over nine figures in about a thirty six month span. So absolutely there's opportunity but can't take our eye off Amazon .

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