Kaz Nejatian

speaker

603 appearances 1 recordings 1 series first heard Jan 2026 last heard 23 Jan

Kaz Nejatian’s voice in public audio — every appearance, attributed to the second.

Trend

recordings per month · last 12 months

Recordings per month over the last 12 months — 1 in all, peaking in Jan 2026 with 1.

Appearances

newest first · ▶ plays the moment

The Pomp Podcast · Opendoor CEO: Housing Is Broken (Here’s the Fix) | Kaz Nejatian · 23 Jan 2026 podcast

Look,

I've always been more fascinated by the first derivative of the business model rather than the core business model.

I think it's actually the most interesting companies in the history of the world are built on the first derivative.

Let me give you an example.

The Union Railroad, Pennsylvania Railroad.

People are like, hey, they lay down rails, they make money from freight.

No, they make money from selling the land around the stations to towns and businesses.

Right?

First derivative business model.

McDonald's.

McDonald's with Coke or land.

Even better, Google with ads.

Like iSearch, the first derivative of the search is ad interest.

The first derivative business model is almost always the more interesting one for large businesses.

Apple App Store.

This is a very real thing, right?

So the question is, when I got to Shopify, Shopify had a business that was mostly SaaS, great business, just generally great business.

But the first derivative of that business model is transactions that occur on Shopify stores and work they create.

So if you're in a small business,

and you sell something, you need someone to underwrite the transaction payments, you need someone to fund it for you, you need someone to pay the taxes, you need someone to calculate your shipping rates, all that stuff.

Showing 141–160 of 603 · page 8 of 31