Nilay Patel

disaggregated first.

Like I think food delivery is much closer.

Getting Ubers is much closer, but it's coming for you as well.

Have you thought about it?

Well, sure, but if you think about Zillow's entertainment, I'm walking down the beach, and now instead of opening Zillow to see how much that house costs, I just ask Gemini or Siri or whatever, and I get an answer, and I get some transaction listing from the public database.

That means I'm not opening your app.

And then maybe I'm less likely over time to open your app when it's time to do the other thing.

Yeah, well, I'm curious about vertical searching.

Who really knows where that's going?

I think that's wide open because the models just keep getting better.

That's right.

And so you see those opportunities open up and close down really fast.

It sounds like you're saying, when you say it's more durable, that...

Serving the enterprise customer, the business customer, to actually make the money is where the growth is.

And maybe it's not in the consumer experience.

And I wonder about that because it echoes things I've heard from so many people, right?

The consumer experience of using the internet is maybe consolidating.

Maybe it'll all just be chatbots.

It'll be AI-powered browsers.

Who knows what's going to happen?