In this video, I will cover Shopify's (SHOP -2.09%) first-quarter earnings report, which beat on the top and bottom lines. I'll explain why the company sold its logistics business to Flexport and laid off 20% of the workforce, and why this was bound to happen. 

*Stock prices used were from the trading day of May 3, 2023. The video was published on May 4, 2023.