What happens when a $350M investor decides your digital strategy isn’t good enough? CarMax is about to find out. Activist firm Starboard Value just sent a very direct message to incoming CEO Keith Barr: simplify online trade-ins, improve digital conversion, and stop letting costs eat the business alive. Their proposal includes capping SG&A at 70–75% of gross profit and even trimming vehicle prices by $100–$300 using real-time market pricing. Oh, and they’re nominating their own CEO to the board. The bigger point for dealers: the used car race isn’t just inventory anymore. It’s digital execution, pricing speed, and operational discipline. And investors are watching. Watch the full episode at the link in our bio.