a16z Analysis Argues AI Shopping Assistants Threaten Marketplace Ad Revenue
a16z shares a piece by Alex Immerman and Santiago Rodriguez arguing marketplaces earn most from browsing and ad revenue, which AI shopping assistants could bypass. The post cites 2025 ad revenue to operating income ratios for Amazon, DoorDash and Instacart.
Original post · 1 min read
Ad revenue vs operating income (2025):
- Amazon retail: 2x
- DoorDash: 1.9x
- Instacart: 2.2x
AI assistants don't need to rebuild Amazon's warehouses to hit Amazon's profits.
Full piece from @aleximm and @santiago__rdz on who gets paid when AI does the shopping: a16z.news/p/who-gets-paid-when-ai-does-the-sho…
Alex Immerman @aleximmWho Gets Paid When AI Does the Shopping? — No one wants to be disintermediated. It happened to Yelp and Tripadvisor with Google. It happened to everybody, with Apple. As a general rule, marketplaces want to own the customer relationship and

