Zillow's Home Flipping Business Made No Sense

Zillow's Home Flipping Business Made No Sense

Send us a textZillow, the digital real estate company, said on Tuesday that it’s exiting Offers, its business that buys and flips homes, and eliminating 25% of its workforce.The announcement was attached to Zillow’s third-quarter earnings report. The company’s revenue and earnings missed analysts’ estimates.“We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated,” Zillow CEO Rich Barton said in the release. “Continuing to scale Zillow Offers would res...

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Brexit, 10 Years On: What It Actually Cost Britain

Brexit, 10 Years On: What It Actually Cost Britain

Ten years on from the 2016 Brexit referendum, the UK is about to appoint its seventh Prime Minister in a decade — so was Brexit worth it? In this video we break down the real economic impact of Brexit...

28 Kesä 37min

How to Lose a Global AI Monopoly in One Afternoon

How to Lose a Global AI Monopoly in One Afternoon

Last week, shortly after Anthropic launched its most powerful AI models, the U.S. government imposed export controls restricting foreign nationals from accessing them - and rather than try to verify t...

21 Kesä 28min

What SpaceX, Anthropic and OpenAI’s IPOs mean for investors

What SpaceX, Anthropic and OpenAI’s IPOs mean for investors

Yesterday SpaceX became the largest company ever to go public, in an IPO that values Elon Musk's rocket-and-AI conglomerate at $1.78 trillion. But SpaceX is just the first. Anthropic and OpenAI have b...

14 Kesä 39min

When a Housing Boom Turns to Bust

When a Housing Boom Turns to Bust

A three-bedroom "dunger" in New Zealand with peeling paint and boarded-up windows sold for 1.81 million dollars at the peak of the boom. A few years later, prices had fallen by as much as a third in r...

7 Kesä 27min

This Is Probably Fine!

This Is Probably Fine!

US 30-year Treasury yields just hit 5.2% — the highest level since July 2007. UK gilt yields are at levels not seen since 1998. Japanese bond yields are at record highs. Something is happening in glob...

30 Touko 30min

The Most Unprofitable IPO in Wall Street History

The Most Unprofitable IPO in Wall Street History

This week, SpaceX filed the prospectus for what is expected to be the largest IPO in history. The document is extraordinary — part financial disclosure, part science fiction, and part governance struc...

23 Touko 30min

What Trump's China Visit Actually Achieved.

What Trump's China Visit Actually Achieved.

As Donald Trump and Xi Jinping wrap up their summit in Beijing with little more to show for it than a few awkward handshakes, the media is left wondering where the big breakthrough went. But as we exp...

17 Touko 26min

The Dumbest Takeover Bid

The Dumbest Takeover Bid

GameStop — the meme stock famous for selling physical video game discs to people who no longer buy physical video game discs — has made an unsolicited 56 billion dollar offer to acquire eBay. GameStop...

10 Touko 30min

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