"The OpEx Was Just Honestly Stupid" — Kaz Nejatian on What He Found Inside Opendoor

In this episode, Kaz Nejatian, CEO of OpenDoor, discusses the company's transformation, clarifying its identity as a market maker focused on velocity and attached services rather than a traditional asset manager. He details the strategic shift from excessive operating expenses to a disciplined, cash-flow-funded approach, driven by a lean engineering team and the pervasive use of AI across the company. Nejatian outlines OpenDoor's ambitious vision to create a simplified "checkout" experience for real estate, bundling essential services to disrupt the fragmented market and better serve the average homeowner.