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You really think that Opendoor did not make sophisticated claims to the FTC before settling? Like they somehow forgot the broker commission cost?
by proales 4y ago
You really think that Opendoor did not make sophisticated claims to the FTC before settling? Like they somehow forgot the broker commission cost?
- TuringNYC 4y ago>> You really think that Opendoor did not make sophisticated claims to the FTC before settling? Like they somehow forgot the broker commission cost? The letter, which I quoted on my comment, was pretty clear on the trade-offs or iBuy vs traditional. You're trading dollars for upfront pricing, immediacy, and certainty. The letters doesn't mention anything about that. The letter acts as if "price" is the only cost, but in real life there are many costs include hidden costs like carry. I'm also saying that the US regulatory apparatus right now is very strange and openly antagonistic to tech firms while turning a blind eye to traditional businesses are often may be far more extractive. Example 1: We're told WhatsApp is "bad" because supposedly competition. Except as a consumer, it costs me nothing, has no 2-yr plans, no mystery fees, no $90/mo bill. On the other hand, the same regulators wont say anything to a mobile phone company.