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This pretty much sums up the state of things

From @packyM and Not Boring
This is one of the more important takes time I have seen, period

It should be read and understood by everyone in the DTC ecosystem

Read the whole post here

notboring.substack.com/p/shopify-and-…
More amazing truthiness
I shared this graphic a while back. It's a visualization of where the profits go for DTC brands, that lines up closely with the concepts in the article:
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