Opendoor CEO, Kaz Nejatian: OpenAI and Oracle, How Can Either Afford to Do This
771Jason Lemkin is one of the leading SaaS investors of the last decade with a portfolio including the likes of Algolia, Talkdesk, Owner, RevenueCat, Saleloft and more.
Rory O’Driscoll is a General Partner @ Scale where he has led investments in category leaders such as Bill.com (BILL), Box (BOX), DocuSign (DOCU), and WalkMe (WKME), among others.
Kaz Nejatian is the CEO at Opendoor (OPEN) and former COO & VP Product at Shopify; earlier he led payments at Facebook and founded the payments startup Kash (acquired in 2017).
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In Today’s Episode We Discuss:
00:00 Intro
01:36 Why Did Kaz Leave $300M on the Table to Join Opendoor
03:24 Why Does Kaz Believe OPEN Can Be a Good Business When the Market Doesn’t
04:28 How does Kaz Feel About OPEN Becoming a Meme Stock?
17:56 Kaz’s $0 Salary but $1BN Stock Based Compensation
25:06 Oracle and OpenAI Partnership: WTF is Going On?
33:14 Investor Diligence: Growth Over Margins
43:23 Microsoft's Investment in OpenAI: A Financial Perspective & Who Has the Power
47:35 How Anthropic’s Revenue Could Go to Zero Overnight?
53:50 Replit Raises $250M at $3BN Valuation and Higgsfield Raises $50M at $50M ARR
01:04:53 Why Adobe Have Failed in an Age of AI and What Incumbents Have To Do?
01:15:03 IPO Insights: Figure, Gemini, and Via All Go Public
01:23:09 Kalshi Quick-Fire Round: Adobe Up or Down by EOY? What Price Will OPEN Be EOY?
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