[travisleestreet]

For sure big real estate portals functionally work. People buy homes through them, even if the experience is clunky. But because they’re entrenched via massive network effects / SEO, and their actual customers are estate agents, there’s basically no incentive to innovate. That's why the top property portals are such great businesses - Rightmove in the UK has like 70% margins.

I think what you're saying is there's that there’s deeper pain further down the value chain? If so, agreed. We think there’s an opportunity to solve some of that, and that building a better product / search experience at the top of the funnel makes it easier to fix problems later in the journey.