Keith Rabois on his home-buying disruptor Opendoor, the political storm, advice for founders, & the rules of innovation at LAUNCH Festival; bonus: Cyan Banister on investing with purpose at LAUNCH Angel Summit.
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Timestamps
1:35-3:12: Jason asks Keith how he splits time between Khosla Ventures and his new company, Opendoor, which values and sells your home for you.
3:13-4:53: Keith gives some details on the number of homes in Opendoor’s inventory and what fees they charge customers.
4:59-7:21: Who’s funding this operation? Keith explains where the early capital came from and who invested in Opendoor later, even in the midst of market woes.
7:22-9:17: Jason asks Keith how Opendoor works with real estate agents.
11:30-12:52: Jason and Keith gripe about how real estate agents currently operate.
12:53-14:53: Keith explains how Opendoor is shaking up the sales side of the housing market.
15:06-16:23: Jason and Keith discuss the possibility of a “try before you buy” concept where prospective buyers rent the home for a few months.
16:49-18:36: How many homes will Opendoor be holding once it really takes off? Keith breaks down all the variables in the company’s growth.
18:37-20:45: Jason asks Keith how San Francisco can fix its insane housing market.
23:15-24:21: Would Opendoor ever come to San Francisco? Keith says yes, but it’s not a priority.
24:22-25:23: Jason wonders if Keith should Airbnb homes in the Opendoor stable while they’re finding a buyer.
25:24-28:43: Jason asks Keith what he thinks of the Zenefits fiasco, and his friend David Sacks’ ability to clean it up.
29:40-31:33: Keith shares his best advice for entrepreneurs in 2016.
31:34-32:35: Keith lays out the perks of being an investor.
32:36-37:47: Jason asks Keith, a professed member of the GOP, what he thinks of Trump’s odds for the presidency.
37:48-39:30: Is it the end of the two-party system in America? Will Congress have to pick the president? Could Michael Bloomberg still sneak in? Jason and Keith continue their political discussion.
40:23-41:34: Cyan explains how her business and life partner Scott helped her become an angel investor in Topsy, SpaceX, and more.
41:36-42:14: Cyan underlines the importance of having a business partner who complements you.
42:15-43:34: How do you find new companies for your portfolio? Cyan says you should start with alumni and networking events.
43:38-46:00: Cyan explains why she and Scott continue to invest, and shares two stories of personal encounters with Uber and Postmates which made her proud to be an investor.
46:01-47:18: Where should the rest of your money go? Cyan preaches the virutes of philanthropy.
