Datadoor.io

🚨 EP 4 - $OPEN HOUSE Was great to chat with @SebastianSzturo, founder of the world's largest Opendoor investor community (@DatadoorIO). Sebastian is a software engineer and spent nearly 10 yrs at Shopify, so he had some fun Kaz stories to share as well. (00:28) Datadoor community (06:05) Sebastian's $OPEN investment history (07:54) Kaz stories (11:28) Thoughts on Fahd Ananta (15:37) Default in-person (20:00) Layoffs (25:13) Sebastian's bull thesis (28:56) Importance of macro + interest rates (31:44) Ancillary services (42:30) Should agents get axed? (44:08) Bear case (48:56) Stock price and valuation

🚨 EP 3 - $OPEN HOUSE Here's @gregw134 - the man who got this whole movement started with his Wall Street Bets DD post on May 14. Great convo about his thesis 4 months ago vs. how he's thinking about $OPEN today: (01:04) Greg's current position (04:02) The impact of Greg's WSB post (05:39) Not buying houses in the summer! (07:01) Dropping out of the Russell 2000 (10:54) The Carvana comp (12:53) "Opendoor 2.0" (16:15) Money > time (17:32) Getting rid of agents (20:27) Greg's idea: TurboTax for real estate (24:35) The role of AI + expanding the buy box (28:14) How Greg thinks about valuation

How is $OPEN is going to reduce its bloated G&A? This isn't Kaz's first rodeo. est. 85% headcount reduction 1,400 → 200 employees align cost structure w/ cyclical business "The company on a tactical level just has too much of a bloated G&A. It's always had too much of a G&A that was way out of control since 2015. We need to fix that. There's 1,400 employees. There should be, like, more like 200 or 300 max. And one of the things he [Kaz] did at Shopify when he got promoted to be COO was cut their G&A as exp- as a fraction of revenue from 14% to 4%. And I think they're on target next year to be at 1%. So it's even more important for a non-software-based business to have a G&A that's in line with the cost structure that's in line with the cycles that real estate, always goes through." @nejatian @rabois

After 6 years at Shopify, I’m joining @Opendoor as CEO. Here is why: It is incredibly important that we use all of our energy and every modern tool at our disposal to build products that make home ownership easier. We must make the process of buying and selling a home less frictionful so more people do it. Home ownership isn’t just about a house. It’s about families and communities. The West has been built on the idea that ordinary people can stake a claim in their society, put down roots, and build a future. Renters move. Owners stay. That matters. Studies show homeowners vote more, volunteer more, and are more likely to invest in their communities. It’s not sentiment—it’s data. Homeowners report higher life satisfaction and health outcomes. They have higher trust in our institutions and stronger families. Ownership builds generational stability. Societies with broad-based property ownership are stronger. Alexis de Tocqueville saw it in America 200 years ago. Nothing has changed. Communities full of home owners are better communities. When people own, they maintain. Crime rates fall when ownership rises. Why? Because people guard what’s theirs. They police and take care of their neighborhoods, not out of fear, but pride. Ownership ties individuals to the fate of the community. Home ownership is about putting down roots. And these roots tie us together and make our world better. That is why the work to be done at Opendoor is so incredibly important. And that is why I believe we can build not just a successful company, but a generational company—one that empowers the promise of the West to be unlocked in the ways it was always intended. Today, Opendoor is the largest digital platform for residential real estate transactions, making it possible to buy, sell, and move at the tap of a button. We are 1% done along this journey! My experience at Shopify showed me what happens when you build a platform that unleashes innovation at scale. Shopify gave millions of entrepreneurs the tools to change their lives, their families, and their communities. That platform mindset is what I hope to bring to Opendoor—to build a platform for homeownership, one that unlocks opportunity for millions of families and strengthens the fabric of society. And that is why I am so incredibly proud that I get to support this team in our mission to use every tool at our disposal to make selling, buying, and owning a home easier. AI gives us the chance to accelerate this work in ways never before thought possible. From simplifying the process of buying and selling, to unlocking personalized pathways to ownership, AI can help millions of families access homes more efficiently, more affordably, and more transparently than ever before. This is a once-in-a-lifetime opportunity to redefine what’s possible in real estate.

Opendoor returns to FounderMode. And we just hired the absolute best executive who has a founder brain as CEO: @nejatian.

After 6 years at Shopify, I’m joining @Opendoor as CEO. Here is why: It is incredibly important that we use all of our energy and every modern tool at our disposal to build products that make home ownership easier. We must make the process of buying and selling a home less frictionful so more people do it. Home ownership isn’t just about a house. It’s about families and communities. The West has been built on the idea that ordinary people can stake a claim in their society, put down roots, and build a future. Renters move. Owners stay. That matters. Studies show homeowners vote more, volunteer more, and are more likely to invest in their communities. It’s not sentiment—it’s data. Homeowners report higher life satisfaction and health outcomes. They have higher trust in our institutions and stronger families. Ownership builds generational stability. Societies with broad-based property ownership are stronger. Alexis de Tocqueville saw it in America 200 years ago. Nothing has changed. Communities full of home owners are better communities. When people own, they maintain. Crime rates fall when ownership rises. Why? Because people guard what’s theirs. They police and take care of their neighborhoods, not out of fear, but pride. Ownership ties individuals to the fate of the community. Home ownership is about putting down roots. And these roots tie us together and make our world better. That is why the work to be done at Opendoor is so incredibly important. And that is why I believe we can build not just a successful company, but a generational company—one that empowers the promise of the West to be unlocked in the ways it was always intended. Today, Opendoor is the largest digital platform for residential real estate transactions, making it possible to buy, sell, and move at the tap of a button. We are 1% done along this journey! My experience at Shopify showed me what happens when you build a platform that unleashes innovation at scale. Shopify gave millions of entrepreneurs the tools to change their lives, their families, and their communities. That platform mindset is what I hope to bring to Opendoor—to build a platform for homeownership, one that unlocks opportunity for millions of families and strengthens the fabric of society. And that is why I am so incredibly proud that I get to support this team in our mission to use every tool at our disposal to make selling, buying, and owning a home easier. AI gives us the chance to accelerate this work in ways never before thought possible. From simplifying the process of buying and selling, to unlocking personalized pathways to ownership, AI can help millions of families access homes more efficiently, more affordably, and more transparently than ever before. This is a once-in-a-lifetime opportunity to redefine what’s possible in real estate.

For those who asked (and even those who didn’t), here’s a new hub for our community. Think strategy, FAQs, and leadership updates. Tap in 👉 community.opendoor.com $OPEN

🚨👀Wwwhhhhhhaaaatttt?!? @JohnCena John FREAKIN Cena LLLLFFFGGG💪💪💪$open #opendoorn @ericjackson