{
  "generatedAt": "2026-10-08T17:44:57Z",
  "disclaimer": "Analysis and opinion, not investment advice.",
  "kind": "person",
  "slug": "alex-immerman",
  "name": "Alex Immerman",
  "role": null,
  "url": "https://deepstack.ltd/people/alex-immerman/",
  "api": "https://deepstack.ltd/api/v1/entities/people/alex-immerman.json",
  "summary": "Alex Immerman appears in Part 9 of The Buildout. Part 9: Habit Was the Moat. Agents Are Draining It.. Argued in Part 9 (The inertia businesses), Part 9 (The rails and the atoms).",
  "parts": [
    {
      "part": 9,
      "headline": "Habit Was the Moat. Agents Are Draining It.",
      "url": "https://deepstack.ltd/stories/habit-was-the-moat/"
    }
  ],
  "numbers": [],
  "mentions": [
    {
      "part": 9,
      "section": "The tollbooth shifts",
      "excerpt": "Alex Immerman says Shopify, Toast and Square collect software and payments revenue whichever agent brings the order.",
      "url": "https://deepstack.ltd/stories/habit-was-the-moat/"
    }
  ],
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    {
      "part": 9,
      "question": "whose-margin-pays",
      "side": "inertia-businesses",
      "sideLabel": "The inertia businesses",
      "claim": "AI assistants don't need to replicate Amazon's warehouses to pressure Amazon's profits; they only need to become the place where the customer decides what to buy, illustrated by Amazon banning Muse while Shopify, which lacks a comparable scaled ad…",
      "date": "2026-09-29",
      "url": "https://www.a16z.news/p/who-gets-paid-when-ai-does-the-shopping",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/habit-was-the-moat/",
      "sidesUrl": "https://deepstack.ltd/sides/habit-was-the-moat/"
    },
    {
      "part": 9,
      "question": "whose-margin-pays",
      "side": "inertia-businesses",
      "sideLabel": "The inertia businesses",
      "claim": "Even if incumbents keep their fulfillment advantage, that doesn't guarantee they preserve their profit pool: in 2025 Amazon generated $69 billion in advertising revenue versus $34 billion in operating income ex-AWS, and at an assumed 70%…",
      "date": "2026-09-29",
      "url": "https://www.a16z.news/p/who-gets-paid-when-ai-does-the-shopping",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/habit-was-the-moat/",
      "sidesUrl": "https://deepstack.ltd/sides/habit-was-the-moat/"
    },
    {
      "part": 9,
      "question": "who-collects",
      "side": "rails-and-atoms",
      "sideLabel": "The rails and the atoms",
      "claim": "Shopify, Toast and Square get paid whichever agent brings the order.",
      "date": null,
      "url": "https://www.a16z.news/p/who-gets-paid-when-ai-does-the-shopping",
      "linkVerified": true,
      "storyUrl": "https://deepstack.ltd/stories/habit-was-the-moat/",
      "sidesUrl": "https://deepstack.ltd/sides/habit-was-the-moat/"
    }
  ],
  "coverage": {
    "creators": 0,
    "claims": 68,
    "texts": 7,
    "asOf": "2026-10-08"
  },
  "lastUpdated": "2026-10-08"
}