This Week in Startups Managing a recession, housing market insights & more with Redfin's Glenn Kelman + OK Boomer | E1616
Nov 18, 2022
Glenn Kelman, CEO of Redfin, shares his candid insights on navigating economic downturns and the intricate dynamics of today's housing market. He addresses the challenges of layoffs and emphasizes the emotional burdens leaders face during tough times. Meanwhile, Shannon Almeida, co-founder of Volv Media, discusses innovating news for Gen Z with a TikTok-inspired format, highlighting how their platform utilizes AI for concise delivery. Together, they offer a mix of practical advice and thought-provoking observations on resilience and media consumption.
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Episode notes
Revealing True Commitment
- Downturns reveal true commitment within a company, separating those driven by purpose from those driven solely by financial gain.
- This difficult period can strengthen the company's overall mission and resilience.
Embrace Austerity
- Embrace austerity and hard work during downturns.
- Recognize that it can be beneficial to operate leanly and efficiently.
iBuying Challenges
- Redfin closed its iBuying business due to changing market conditions.
- The increased cost of capital made iBuying less appealing to consumers and less profitable.
