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Opendoor is cutting 35% of its employees

techcrunch.com

11–20 of 58 posts

Re: Opendoor is cutting 35% of its employees

#11

I feel like the amount of subliminal shitposting within an article is increasing as this goes on. What did that sentence about Florida have to do with anything? They are on a statewide lockdown.

We get a lot of grief down here in Florida, but what people don't get is that we are the way we are because the worst people from every other state retire here.

It's also because we have open laws (sunshine laws) that require things to be published publicly.

Re: Opendoor is cutting 35% of its employees

#12

I feel like the amount of subliminal shitposting within an article is increasing as this goes on. What did that sentence about Florida have to do with anything? They are on a statewide lockdown.

There was no need to mention Florida in the article. It is 100% shitpost.

Re: Opendoor is cutting 35% of its employees

#13
Can I ask a stupid question?' I kind of did a Rip Van Winkle and stopped reading Techcrunch for eight years. Back in the day I would email Alexia and she would take the story tip and write a cool article. Is TC 100% pay to play nowadays? I know so many people who submit press releases to them and they get auto-deleted. What gives?

Re: Opendoor is cutting 35% of its employees

#15
post #6
post #5

I keep seeing "SoftBank-backed ..." in TC headlines, but rarely other funds. Is it just fashionable to bash SoftBank?

Yes it is. They backed a couple hilariously bad bets in a big, public way, and people like feeling smarter than rich strangers. I would be curious, though, if there are other funds with similar scope and track records to Vision 1 that have just managed to skate under public scrutiny thus far.

> They backed a couple hilariously bad bets in a big, public way, and people like feeling smarter than rich strangers.

The two things are related. The public visions for these companies went beyond the standard startup platitudes about 'making the world a better place'. Regular people can see through that, because they don't live in an SV bubble where playing along with this sort of hubris is encouraged.

I don't think anyone thinks they're smarter than Softbank or Adam Neumann. They may just be enjoying the schadenfreude of this hubris come crashing back to earth once reality entered the picture.

Re: Opendoor is cutting 35% of its employees

#16

I feel like the amount of subliminal shitposting within an article is increasing as this goes on. What did that sentence about Florida have to do with anything? They are on a statewide lockdown.

> They are on a statewide lockdown. Apparently not. But I agree this remark is out of place.

What makes you think they aren't? The statewide lockdown was announced a while ago, and as far as I know, has not been lifted.

Re: Opendoor is cutting 35% of its employees

#17
All the ibuyer companies won't make it. Nationwide downturn in house prices and all the inventory these companies are holding are underwater. Zillow and Redfin are more than likely done. Zillow maybe holding 60,000 homes.

We never learn our lesson. GE was taken out by their financial division and high risk bets.

Re: Opendoor is cutting 35% of its employees

#18
post #17

All the ibuyer companies won't make it. Nationwide downturn in house prices and all the inventory these companies are holding are underwater. Zillow and Redfin are more than likely done. Zillow maybe holding 60,000 homes. We never learn our lesson. GE was taken out by their financial division and high risk bets.

Wait, Zillow owns homes?

Re: Opendoor is cutting 35% of its employees

#19
post #17

All the ibuyer companies won't make it. Nationwide downturn in house prices and all the inventory these companies are holding are underwater. Zillow and Redfin are more than likely done. Zillow maybe holding 60,000 homes. We never learn our lesson. GE was taken out by their financial division and high risk bets.

Wait, Zillow owns homes?

https://www.zillow.com/marketing/zillow-owned-homes/

Re: Opendoor is cutting 35% of its employees

#20
post #17

All the ibuyer companies won't make it. Nationwide downturn in house prices and all the inventory these companies are holding are underwater. Zillow and Redfin are more than likely done. Zillow maybe holding 60,000 homes. We never learn our lesson. GE was taken out by their financial division and high risk bets.

Wait, Zillow owns homes?

Yes, but only to flip, a more recent strategy
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