Opendoor board chair Rabois says company is 'bloated,' needs to cut 85% of workforce

The problem with the company was bloated GNA. So real estate does have a roller coaster rides to it. There are phases, cycles and they happen every 5 to 10 years and you need a resilient uh cost structure that doesn't depend upon selling 6 million homes a year because it can come down to 4 million.That's basically the zone over the last 30 years. And so the bloated GNA was a real problem because as people stopped transacting as interest rates went, you know, through the roof, the company's GNA made no sense ...