 What's up everybody, Ricky Krooth here, so today Zillow stock went down almost 15%. It literally crashed today on their earnings report. So their earnings report was actually better than expected. The reason it went down is because of their future guidance. So their earnings was $600 million and they had a $585 million expected revenue. So it was higher than expected, but they're still at a loss. They still do not make money. They're not profitable. So their earnings per share was a negative $0.14, which was better than expected, negative $0.15. So they're still losing money, which I think is crazy. But let's talk about why the stock fell so much, their future guidance. So they pulled back their future guidance, expecting to make less money later than what they previously said that they would make. And the reason that Zillow said that was because their transition of their premier agent program. Their premier agent program has always been pay for the advertising up front for the leads, and then Zillow gives you the leads, and then you work the leads and whatever happens, happens. Well, they're flipping that model, and you're gonna start paying Zillow a referral fee on the back end once the deal is closed. And so this is very interesting, and they're in this transition period right now. And Zillow says that after they get through the transition period, then they'll be back to business as normal with the agent business, buying leads. So what I think is very interesting is, right now if you buy Zillow leads, you get the leads and then you basically do whatever you want with the leads. Under this new program, it's gonna be called Premier Flex. You have to actually check in with Zillow every week and give them a progress report on all the leads that you're working through Zillow. You have to also open up a dot loop for that particular prospect. And you have to give Zillow updates every week. So how much work is this gonna be? You still have to sift through all the leads that they're gonna give you to find the ones that are gonna buy. And then we're gonna pay Zillow a huge referral, which I hear is 35% on the back end. So I find this new business model of what they're gonna do with agents leads, very interesting. And to be honest with you, I think it's very speculative of what that business model is gonna produce. I think it's gonna be hard to find agents that are gonna check in and give Zillow progress reports on all the leads that they're working for Zillow every week. And I think it's really funny that they're changing their business model, which what does that tell us? That the previous business model didn't work. So now they're trying to flip it into something else to try to see if that's gonna work. Well, if the first one doesn't work, and then the second one actually involves agents doing more work for less money, then how is it gonna work? The more and more I look at Zillow, the more and more I look at everything out there in the industry, I realize there is absolutely no threat in sight to real estate agents. It's crazy. Now let's talk about their instant offer business. Okay, their instant offers business is doing very well. They posted $249 million in revenue there, still at a loss as a company, as a whole. But what I find very interesting in Steve Eisman who bet on the subprime market to collapse, he bet short on it, they did a movie on it, The Big Short. And he has been betting against Zillow for a while now. He's seen all this coming because of their growth has slowed down. And he's recognizing what they're doing and the direction they're heading in and it's not a recession proof situation. Because now they're switching their business model of how they give leads to agents, okay, not good, right? And then they're buying properties to flip these properties and where they're gonna give those listings to premier agents for 35% referral fees, okay? So they're gonna own so much property. If the market does crash, if the market dips in any kind of way, if it goes downhill, that's gonna put Zillow in a very, very bad position. And Steve Eisman said it right here that Zillow would get crushed in a recession. And I absolutely by seeing what they're doing, I absolutely believe it. So that's why their stock went down so much today that I'm telling you all this just to give you what information I have just to let you know. I don't see a threat out there that's gonna take real estate agents out. They're just another real estate company. They're getting into the real estate business in a way as far as these referrals go. But anyway, I'm about to get on these live calls with Joe Rosen right now. I'm really fired up about it. So if you guys need anything whatsoever, please reach out. Let me know what in the world I can do for you. Let's go.