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Good morning, Today’s Stratechery Interview is with Eric Wu, the founder and CEO of Opendoor. Opendoor is very much in the middle of testing the thesis that homebuying can survive a market downturn. The company had huge losses in the third quarter as it sold inventory at steep discounts and discount...

Good morning,

Today’s Stratechery Interview is with Eric Wu, the founder and CEO of Opendoor. Opendoor is very much in the middle of testing the thesis that homebuying can survive a market downturn. The company had huge losses in the third quarter as it sold inventory at steep discounts and discounted the value of what it still had in stock; the company also laid off 18% of its workforce.

At the same time, Opendoor is also seeking to leverage its first-party buying product into a new marketplace called Opendoor Exclusives; from the company’s blog post:

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Great interview with @ericwu01 of @Opendoor with @benthompson