The thing that matters is what gets meaningfully better for the customer. Last month, JD.com launched Joybuy across markets including the U.K. and Germany, stepping directly into competition with Amazon, Temu, and AliExpress. At first glance, it looks like more of the same, right? Another marketplace. Another app. And another wave of low-cost competition entering an already saturated space (two if you count your smartphone app Library). But I think the underlying model is different in a way...