The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 58 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 2 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Rabois: Opendoor launched in 2013 with $10M initial capital
“Which is actually what we did in 2013 when we funded the company. We actually only funded the company with ten million dollars, which was basically just enough to buy two cohorts of homes.”
Rabois: Opendoor negotiated its second funding round before launching
“So we wound up negotiating the second round pretty much before we actually launched the company.”
DeWahl: Higher Opendoor home offers boosted conversion but damaged profitability
“So at Open Door, for example, if we raised our offers on people's homes, we'd see a bump in conversion. So yes, we would therefore hit our growth goals, but profitability would have suffered.”
DeWahl: Startups should use lightweight tools before committing processes to code
“I think it's super important to iterate for a while in the most lightweight tools that you can get away with, because inevitably you're going to be changing the way you do things.”
DeWahl: Early Opendoor sellers were primarily motivated by buying their next home
“For example, when we were focused on building the seller product in the beginning at Opendoor, we were again, so focused on building a product that was all about selling. But when we went and started asking people to tell us about their experience selling thei…”
DeWahl: Opendoor prematurely coded unbaked operational processes during its early growth
“A mistake we made a few times early on was to commit to code some processes that just weren't fully baked yet and were continuing to evolve. And then because engineering resources are limited, which they often are, we had to Keep using these outdated systems t…”
DeWahl: Opendoor CEO Eric Wu wore target metric on his t-shirt daily
“There was a point where we were working on hitting unit profitability in our core cities, where Eric decided he would show up to work every day wearing this blue t-shirt with the single most important company metric on it, and so everyone at the company knew t…”
Felicis Ventures backs an average of two unicorns per year
“Backing, and I cannot believe I'm saying this, Dad, but an incredible two unicorns per year since founding, including Shopify, Opendoor, Flexport, Adyen, Twitch, Fitbit, and many more incredible companies.”