u/Itsyournamebackwards

I'm back with a new piece. Some of you probably read already my previous deep dives on Opendoor like the Singularity Scaler thesis (it's happening) and the Opendoor 3.0: The $1,000 Blueprint.

What we are witnessing today, I believe, is a new era of executives who departed Shopify to write their names in technology company history. This group I coin the Shopify Mafia: Kaz Nejatian (CEO), Giang LeGrice (COO), Lucas Matheson (President), Morgan Brown (Chief Growth Officer), Margaret Syms (Chief Information Security Officer), Fahd Ananta (Product lead buy-side). What the Shopify Mafia is building at Opendoor is not a real estate company with better software, as the market may view it, but it is the financial infrastructure layer for the largest asset class on earth.

I believe Opendoor is reaching an inflection point. For the first time in its public company history, we see a flywheel that is self-activating through improved COGS, a non-linear jump in acquisitions, and improving inventory health that shows homes moving faster rather than sitting on the balance sheet. From a startup narrative, I call this product-market fit. As I have written in my deep-dives before, I treat Opendoor as a late-stage VC investment in the public market: a high-beta stock, which strongly bets on management and company vision but is priced on the past. The better you understand that, the more alpha you capture.

14 days ago I posted my Singularity Scaler thesis in this community. Today I'm publishing the third piece in the trilogy. After my June 8 post, literally a day later, Eric Jackson shared his thoughts following his visit at Opendoor's Toronto office earlier that week and published his own $500 case.

We arrived to the same thesis via different sources. This is the architectural follow-up neither piece had room for: full three-layer breakdown, revenue models per business model, SOTP through 2032-33, and the governance model that keeps Opendoor a software company rather than a landlord. Happy to discuss any of it here.

I don’t know much about space but think that this is a potential bear case that’s barely addressed while hyped by the richest man on earth and a few others…

Opendoor has the potential to become a trillion-dollar company over the course of the next 10 years by redefining global real estate transaction markets, built on a unique, growing data moat.

I wrote this deepdive that goes beyond the day to day, quarter on quarter. I tried cracking the code on why the company is hiring certain top tier talent and is moving into certain direction. I tried to understand Kaz’ his vision. How optionality is baked into it and what the evolution of Opendoor looks like.

I’m long since May 2025, first purchase at $0.73. I’ve been averaging up ever since. It will be a wild ride. Enjoy the read.

I was wondering if other fitgirls here experience the same: I’m eating clean and lift well and have seen substantial results in my body development but I struggle now with finding pants that fit well because my butt is bigger and my waist is slim.

A lot of times when I’m trying new clothes they don’t fit well around my waist but good on the butt. Is it just a me thing or do others recognise it? Where do you buy clothes?