Noah Kann reacts to eBay (EBAY) earnings, highlighting the acquisition of Depop from Etsy (ETSY) for $1.2 billion. He notes Depop is popular with Gen Z, whose buying power is only growing. “Sometimes, buying talent and buying a marketplace is a better way to penetrate a new area.” Ebay’s ad revenue is higher as well, and he sees further upside there, stressing that companies selling physical goods need multiple revenue streams.