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Market making is much closer to how we at Opendoor think of it internally. Flippers buy distressed assets at a huge discount and plow money into renovations and
by jdross 10y ago
Market making is much closer to how we at Opendoor think of it internally. Flippers buy distressed assets at a huge discount and plow money into renovations and repairs. Not really our business.
- genericpseudo 10y agoIt strikes me that maybe the best analogy for your financial model is old-school 19th-century shipping (as in; the reason London is London, more or less)? You're taking a trading risk on illiquid goods but your holding times are reasonably short (certainly under a year, presumably much less than that in hot markets). What a cool business. Congratulations.
- jdross 10y agoThanks, if you're ever in the Bay Area you're welcome to come by for lunch and learn more! I'm jd@opendoor.com
- akum 10y agoInteresting history tidbit about London. Do you have a reference/book about it?
- LordHumungous 10y agoHoly fuck this comment is LOL. Never change hacker news