Marketmaking is the liquidity-providing function in e.g. stock markets which makes transacting in them quick and cheap. It's one of the reasons why you can buy or sell a share of Google without having to pay $10,000, talk to someone on the phone, and hire an appraiser for Google.
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Now you might sensibly think "Well you can do that because shares in Google are fungible with each other" and OpenDoor's crazy idea is "Look, if you squint at them a little bit, houses in Phoenix aren't strictly fungible but they're close enough that the error bar is just noise."
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What other industries need improvement in their market making?
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Hiring.
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James, thank you very much! ML is short for market liquidity here? Thank you for helping me to learn, I appreciate that. Where do you get info about current rent prices in the US? Here they are published, but 4 years old and wildly inaccurate.
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I would guess "machine learning" rather than "market liquidity."
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market making in houses depends on opendoor being able to absorb these houses onto their balance sheet at least for a little bit. thats kind of tough without a lot of capital.
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Raising capital and running an efficient capital markets operation is something they are VERY good at
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If that model were viable/legal on the US it’d be more prevalent. “I’ll pay you $20/hr for 18 months, and train you free, after that you can do whatever.” But feels too close to indentured servitude if you don’t let people leave.
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