Jeremy Wacksman

So that's most of Zillow.

So most of our for sale business is how we think about it.

We think about for sale and rentals.

So most of the buyers and sellers that are using the Zillow brand that you see, and most of the agents that are talking to them, and most of the loans and home loans that you're getting in our residential real estate is kind of the most mature part of it.

And I don't say mature in terms of market share and growth, but in terms of how long we've been at this.

We also have...

startups, acquired businesses, smaller businesses that we intentionally run more independently for some period of time until we need to think about how to better integrate them.

Rentals is a great example.

We have a rentals marketplace that's now north of 20% of our company, but that was largely a startup inside of Zillow for a long time and it operated and still operates relatively independently with a GM of rentals and had a lot of its functional teams fully owned.

And as it's matured and now, you know, it's going to be our next billion dollar business, that's one of our goals, is we are starting to intentionally think about, okay, well, how do we fold some of that back into the functional expertise capabilities?

StreetEasy here in New York, which I know you all know well, that was something we acquired and

maintained its independence and have continued to maintain its independence because there's not a lot of value.

And there's actually a lot of more value in keeping it independent and thinking about New York because it's such a unique market.

So we don't have a one size fits all, but broadly speaking, we have kind of a functional business matrix that we look at.

Does it make sense for the next thing we're doing?

We are approximately, don't get my count exactly, approximately 7,000 people.

How's that distributed?

We think about it as like, I guess maybe chop it into like fixed and variable headcount would be one way to think about it.

And, you know, fixed is largely product engineering, marketing, design, and shared services.

And then variable is sales, operations, support, and things that grow with revenue.