Jeremy Wacksman

backwards from the customer outcome and from consumer choice.

It's kind of in our DNA and it's in our business.

Again, as we talked about earlier, more volume is better for Zillow.

Therefore, that's why we focus on transparency.

So that tends to align us well with avoiding any regulatory scrutiny.

I'm sure there will be a point.

And we definitely have various individual legal challenges we can talk about.

But from like, how do we think about regulations that we build?

We think about, okay, let's build something that's pro-transparent, pro-consumer.

And there's going to be places where we want to innovate.

And innovation is going to be stuff that hasn't been thought about from regulatory frameworks.

But if we can show our work and explain why we want to do what we want to do, we think that'll end up being a good conversation, regardless of administration.

Yeah, we have conversations with both types of administrations over the 20 years we've been here because housing, as you said, is such a kind of fascinating database.

The other challenge is you asked about DOJ, FTC.

It is more of a local issue.

A lot of times these things play out at the state regulator level or state associations and even local markets.

And when we get back to macro, lobbying for supply, that's a county level challenge.

We have.

And I mean, you kind of started to answer the question.

It'd be easier for me to cop out and say, well, our category is different, but we do think our category is different.