Over the past several months we've onboarded some of the largest independent agencies in the world. Agencies with scaled commerce and programmatic media teams. There's a reason these agencies are the largest: they have high conviction on advertising excellence and they set that bar for their teams to the benefit of their clients. Simply put, they do great work and the reward for great work is more work. While these agencies are growing, they're finding it challenging to meet the demand of new customers with human capital alone.

This makes sense. The corpus of humans in the world with 4+ years of Amazon DSP experience, able to own a client call and drive strategy for an enterprise brand, is likely in the hundreds globally. Spread that across every agency and brand that needs this level of expertise and the supply imbalance becomes obvious.

In last week's Cherry Picked, I mentioned that for many of these large agencies that we've onboarded, they've felt this sudden and immediate need to "hire Gigi" because the demand for their expertise outstrips the supply of human capital they can create by hiring and training naturally. We, in effect, allow them to meet this demand with token capital. I stole this phrase from Satya Nadella's essay on the future of the firm in the AI driven economy. His direct quote:

"Every company is going to have to build what I think of as human capital and token capital. Human capital comprises the knowledge, judgment, relationships, ingenuity, and pattern recognition of its people, while token capital is the firm's AI capability it builds and owns."

He goes on to say:

"Companies need to turn their workflows, domain knowledge, and accumulated judgment into AI systems that improve with each use. This loop becomes the new IP of the firm. I think of it as a hill climbing machine. And unlike most assets, it compounds. Every improved workflow generates better training signal, which accelerates the accumulation of tacit knowledge unique to the firm. The companies that build this early will have an advantage that is hard to replicate, regardless of any new individual model capability."

Our customers are living proof of this. They were already winning before Gigi showed up. Better outcomes, stronger client relationships, a reputation that earned them more business than they could staff. What they couldn't manufacture fast enough was the expertise to fulfill it.

Gigi converts that existing edge into something that scales operationally, while providing a compounding learning loop and defensible IP for our customers. Every campaign run, every insight surfaced, every strategy iterated feeds back into the loop Satya describes. The institutional judgment these agencies spent years building gets encoded, compounded, and deployed across their entire book of business without adding headcount. Their advertising performance improves. Their clients get more. And the lead they had over their peers before Gigi only grows wider.

The agencies we now call our customers didn't get to where they are by accident. They built expertise, earned trust, and grew on the back of results. The human capital constraints are a natural consequence of what they've built. Demand grew faster than the supply of humans who could serve it. Gigi closes that gap, and in doing so, starts converting everything they've already built into compounding IP that allows them to widen the lead they've worked so hard to build in the first place.