Transcript
Analyst or Host (0:00)
Instacart CEO is stepping down, according to retail dive. Instacart announced Wednesday that CEO and chair Fiji Simo will be departing in the coming months from the company to become the CEO of OpenAI Applications. Simo will continue her duties at Instacart's helm and work closely to appoint her successor, who the company board expects will be an existing member of Instacart's management team, per the announcement. Simo joined Instacart as CEO in 2021 and led the company through multiple acquisitions and an expansion into use new in store technology like smart cards and digital shelf tags. Chris, what struck you most when you heard the news about Fiji's departure here?
Chris (0:43)
Yeah, about the Instacart CEO's departure. Wow. A number of things. And I would say, you know, in no particular order too, just like off the top of my head first, you know, I didn't know she'd been there for years. I looked, you know, I was surprised by that. It didn't feel like she had been there that long. I don't know if you felt the same way.
Analyst or Host (1:00)
Yeah.
Chris (1:01)
And that kind of brings me to my second point, which is, you know, secondarily, like, I still question if Instacart's in a better place than when she took over. I know that that's how they're spinning it in the media. Yeah. It's just kind of the gut feeling that I have because, you know, I don't know, I've never been bought in on the operating system for stores, maybe for the regional grocers, I guess. But there's a lot of competition in that space too. And comparatively, I still think Doordash's value proposition is much stronger in the landscape as we talked about in the show a lot. So. So I just, I just kind of question that. But I think the biggest takeaway for me coming out of the move, and this to me is the most interesting point, is she essentially saying E Commerce is so yesterday. And. And she's saying I'm jumping feet first into everything. I. Yeah. And that's a point that's really telling and that I think all of us need to come to terms with that. You have someone who is smart enough to be at Meta, you know, on the upswing, then went to Instacart, kind of, you know, quote unquote, transform them all. The transformation is, you know, debatable and is now jumping into the AI pool.
Analyst or Host (2:04)
Yeah.
Chris (2:05)
So I. I think you just have to just take that into account.
Analyst or Host (2:09)
Yeah. I mean, I, I was not Surprised at all, given her background? No, I mean, I think this makes total sense. Like the longevity if, if I, if I were her and looking at where the longevity is in, in a career, I mean, OpenAI is, is the spot, like there's, there's no turning down that job. And I do think, though, that I disagree a little bit on where Instacart is. I really do think that she helped Instacart get into a trusted position. And there's probably so much more under the covers because so many of the people that we really respect as innovators in the industry are partnering up with Instacart to do this store operations and to do some of the other things that they're kicking into place. And also, I think, you know, we interviewed David McIntosh, the Chief connected stores officer back at Grocery Shop, and he was really impressive too. And, and so as I'm thinking about the future of where Instacart's going, he would be top of my list for next CEO, I think, because I think that's where the most growth potential, especially when you start to think about retail media and connected stores and how Instacart's really going to have to position themselves for future success. But I'm curious who, if you have anybody you would like, rise to the top of that organization.