Pinterest is on well a little bit of a a Hot streak that I don't think the market Really has caught on just yet let's talk To Pinterest SE Bill ready Bill good to See you at the milk and conference I've Seen you all around the world good to See you in California yeah yeah good to See you again seven straight quarters of What Ma acceler growth yeah as we uh Well it's you know so is a fantastic Quarter but it's really the culmination Of initiatives that we've been putting In place over the course of the last Nearly two years and you we hit an All-time high on users 518 million Monthly active users and we've Accelerated seven quarters in a row on Users across every generation and across Every geography but where we're really Winning is with Gen Z gen Z is now 40% Of the users on our platform and our Fastest growing demographic that's what People in their late 20s yeah it's what Are they doing on pictures it's fans you Know sort of uh teenagers through you Know college graduates and sort of folks Early in their career but they're coming For two primary reason reasons one we've Really improved the action ability on The platform uh Pinterest is where Jin Z Goes to shop and so Pinterest had Previously been great at window shopping But you couldn't really get to the Things that you found over the last two
Years we've really been opening the stor It's making it really easy for users to Connect to the things that they find on Pinterest and you know that led to us More than doubling the number of clicks We set to advertisers year on year in Q4 And in q1 um so that that action ability And Sho ability is really reson Resonating but then positivity is really Resonating as well we've really invested In making Pinterest a more positive Alternative to traditional social media And when you ask gen Z they will tell You that they see Pinterest as an oasis Away from the toxicity that they see on Much of the rest of social media and That's cutting through uh and it's a Great example of doing well by doing Good I want to get back to that cuz I Know that that's something you've been Very focused on literally since you Started at Pin that's right when you Talk about shopability though is that The power of your AI any new AI you're Releasing behind behind the scenes to Help people shop on the platform yeah Absolutely so AI has been a massive Tailwind for us and so you know we've Done a few things one we really lean Heavily into large language models uh Nextg AI like uh GPU serving things like That we now use models that are a 100 Times larger than the models that we Were using a couple years ago that led
To more roughly a 10 percentage Point Improvement and relevancy of the Recommendations we make to our users but We've also been doing things to design Our product to create great signal for That AI so for example we've really Leaned into human curation at scale so It's not just that users come to Pinterest to shop they come to Pinterest And curate and put together outfits put Together room designs and so when those Users say oh I'd put this handbag with This dress and this pair of shoes or to Put together a room in this aesthetic i' Choose this lamp and this sofa and this Rug that gives us really great signal to Make better and better recommend Recomendations to our users by training The AI on that really unique signal and Importantly it's helping users to do Things that help them take action in Their real life not just keep them glued To a screen but actually make their life In the real world better as well I'll Put this question to you so Warren Buffett's annual shareholder meeting he Sounded concerned on an AI after someone I guess made a video of him talking now I asked IBM does he share those concerns And says no they're fantastic what's Your views I I think like any technology You know the AI is neither good nor bad But it can be used for good or bad and So I think you know it's a totally
Appropriate conversation to be talking About what could the harms be and how do You avoid those harms and on our side of It we're trying to prove that you can Use the AI for good so we've done things Like inclusive AI uh We've launched Features uh you know like inclusive AI That we're doing that creates diversity By default in our feeds uh we're tuning The AI for positivity so uh rough a year Ago when we saw each other last at the Can Festival uh we launched the inspired Internet pledge where we committed to Measuring emotional well-being outcomes On our platform and so we're tuning the AI to serve more things that help users Come away feeling better about Themselves uh and so body positivity is An example of that where we've launched Body type AI so that people see people Are able to see a more representative Set uh they can choose the body type That represents them best see a more Representative set um of not just what The average fashion model looks like but What they look like and what real people Look like uh we've done the same thing With like uh skin tone filters and hair Pattern filters and so these are Examples where you can use the AI for Good and that's what we've been focused On is like how to use AI for good and You can also use AI to avoid some of the Bad things as well where we've used AI a
Lot to get Bad actors off the platform And build safety uh features through AI So again AI is neither good nor bad like Any technology can be used for so we're Focused on how do we use it for good and How do we also use it to avoid the harms That that could be possible you and I in The past have talked about Tik Tok What A band might be it is what it is but is The best possible thing that could Happen to the internet is something like This gets banned and doesn't exist in The US so we can go back to focusing on Other things and getting life done um You know what I would say you know uh Rather than comment on any one platform You know we're not sitting back hoping For the demise of other platforms you Know we have accelerated with Gen Z Because we're doing something really Unique in the world of social media and You know it's it's on two fronts users Come to Pinterest with intent we're not An entertainment based platform most of Social media is entertainment base the Users in a lean back entertainment Consumption mode users come to Pinterest With intent and purpose whether it's to Shop or to make or to do or to buy They're coming with some intent and Purpose and we're helping them fulfill That intent and purpose purpose so that Action ability is very different than Much of the rest of social media and the
Positivity that we're investing in Around you know making sure that we tune The AI for positivity tuning for Emotional well-being outcomes and more Positive emotional well-being outcomes You hear it from jiny users they will Tell you they come to Pinterest because They see it as an oasis away from the Toxicity of the rest of social media so Again you know is it understandable that Regulators are going to you know pay Attention governments Regulators will Can pay attention if they think there Are potential harms that totally make Sense but we're not sitting around Waiting for government action we're Focused on avoiding those harms on our Platform tuning for positivity and Giving Jin Z something that's really Great is different from the rest of Social media Before I Let You Go tell me If I have this somewh right so you have A part a deal with or a partnership with Amazon and Google do investors are they Underappreciate how those two Partnerships will change your cash flow And your earnings over the next few Years well what I would say is you know I I think you are seeing you know the Acceleration in our ad business uh Really cutting through with advertisers First and foremost do we perform for Advertisers we more than doubled the
Number of clicks we sent to advertisers In Q4 and we did it again in q1 and Actually accelerated even further Because of Amazon it is really because The action ability that we're bringing To the platform and that's through a Combination of efforts a lot of it is Retailers coming to us directly but then We've also as you noted augmented that First party demand Dem on our platform With third party demand coming from Amazon uh who we've been working with For coming up upon a year Google be Added more recently for international Markets and so that is helping to bring More shoppable actionable inventory onto The platform but it really is a Composite effect and what I would say is That when you step back from it all Pinterest is firing on all cylinders if You look at the initiatives I laid out When I came in nearly 2 years ago that We went through our investor day last September you know our strength uh has Has been broad-based you we we roughly Doubled our Revenue growth rate from Q4 To q1 uh we doubled it from H1 to H2 Last year we doubled again from Q4 to Q1 and we've accelerated user growth in Every geography with every generation And so it is really all the initiatives We've laid out around action ability and Positivity better performance for Advertisers all those initiatives are
Hitting and Performing well uh and so The strength is broad-based well Turnaround continues to pinch Uh pict see Bill ready good to see you We'll see we'll see can hopefully no Sunburn for both of us this year
