from the horse's mouth
$Opendoor Technologies (OPEN.US)$ I've been saying that this is a real estate company and I get all kinds of kickback oh no it's a software company it's a SaaS...
I said this company is 100% depending upon a real estate cycle and I get everybody telling me how wrong I am and I've proven my case quite extensively
so why don't you listen to the horse speak that would be kaz in an interview just done listen to how he describes his company that he runs.
drop da 🎤
after you listen read my follow-up directly below in the first comment
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37+ yrs in the trenches, raised 100mil for start ups, syndicate ipo's, yrs on trading desk
opinion not financial advice
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10baggerbamm OP : follow up
in his own words
he does not believe in a business plan..
this should scare the living hell out of you if you are an investor
he thinks fast action is superior to well thought out
I've told everybody that his changing from the prior approach of low balling the piss out of people and operating on big margins which was the prior CEO's approach and it failed because they were in a down Market and now the new plan is huge volume because they want to be Amazon pay more for houses ...they spin it by saying oh we're helping sellers
and I've proven to everybody the ramifications of paying more in a market where rates are higher for longer that the surrounding houses in immediate area as they are marked down they become the comparables that an appraiser uses and that a bank underwrites to when they evaluate the collateral that would be the house.
so working on skinny margins now is going to result in massive losses of their inventory
Kaz does not have a business plan... he does not come from the real estate industry and I'm sure this guy's bought and sold a lot of houses and he owns more houses than me go ahead say it all right he's richer than me fine I'll agree to that.. but the reality is a CEO that does not plan to succeed
they plan to fail
and this CEO in his own words does not believe in a well thought out business plan
Sam Bankman : meme stock baggies in denial. Financials are trash. All this has going for it so far is some promises from management about “we are gonna figure this out together guys”![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
10baggerbamm OP Sam Bankman : if they were smart they would acquire a direct lender that already has 50 licenses in place for the United States already has all the operations and compliance setup has the warehouse line set up is functioning right now and just needs volume in order to go with their foot to the floor and start printing money.
you see that's what KAz should be doing is using their inflated stock price to acquire one of these low priced direct lenders and that vertically integrates their operation it is one step further along the way where they're able to capture a hell of a lot more revenue than their current business model..
but what do I know I just started investing yesterday