Shopify Inc. (SHOP) Presents at Goldman Sachs Communacopia + Technology Conference 2026 Transcript

Good afternoon, and welcome to the Shopify Session at Goldman Sachs Technology and Communacopia. I'm Gabriela Borges. When I was debating with Shane from Shopify, how we could amp this presentation up a little bit, we thought it would be really fun to have Archie Abrams, Head of Growth, join us from Shopify and of course, Jeff Hoffmeister, CFO. We really thought this would set us up for a little bit of leveling up in the Shopify discussion beyond all of the good stuff that Jeff quickly shares with us. And look, it's such a great time for us because the investor questions that we've been getting have gotten much more technical and specific on Shopify's moats over the last 6 months.

I want to start this conversation with a little bit of a reflection on the culture that Tobi has built at Shopify. There was a podcast that came out, I think it was a couple of weeks ago now, where Sam Altman, he opened up talking about Tobi and how he's just such a great example of a Founder CEO who actually gets -- rolls up his sleeves and gets into the technology. And I know from speaking to you guys for a number of years now that the first principle of thinking at Shopify is pretty unique. So tell us a little bit maybe via an example from your day-to-day where this plays out in practice and Shopify essentially thinks first