Kaz Nejatian explains Opendoor's cost structure and operational turnaround to host Shane Parrish.
Opinion
Nejatian: Non-founder-led companies become hosts for professional consulting leeches
“Where the founders are no longer there, there's no large shareholder that cares a lot about the company. So over time, many of these companies essentially become hosts for professional leeches whose job it is to suck the company dry while making management loo…”
Opinion
Nejatian: A culture of 'suicidal empathy' is killing top tech companies
“There is a level of suicidal empathy that people have developed that is just deadly. It is killing our best companies because people are assuming that everyone is thin-skinned, and they're assuming that people are offended by facts.”
Opinion
Nejatian: Remote work generally fails, with Shopify being a rare exception
“First of all, I don't think remote works. Generally, it only works for Shopify, and that's because we built more software to make remote work than anyone reasonably thought we could. And I think the jury has fully come back on this topic, that companies that a…”
Insight
Nejatian: A/B testing primarily serves as a safety blanket for tech management
“What, for most tech companies, AB tests have done have been the safety blanket for management.”
Assertion Not checkable as stated
Nejatian: Opendoor's top external expense was millions to a consulting firm
“And usually for tech companies, like, your largest expense to an external vendor ends up being, like, your cloud provider. But for Opendoor, number one was millions of dollars written to a very large consulting firm.”
Disclosure
Nejatian mandated Opendoor return to office within one week or exit
“So Open Door had gone fully remote. So at nine a.m. That Monday, I told the entire company, hey, Open Door is going to be back in the office next Monday. If you don't plan to be in one of these offices, we appreciate your help, but you're no longer with us.”