Nilay Patel

Like it's not actually so easy to just rip out the floor.

but here we are, we're going to rip out the floor.

And now you're fully virtual tours, like generated 3D tours that maybe show you reality and maybe don't.

How are you guarding against that?

Because this is, I think, the other big threat to your demand.

Oh, I think reality shows that that dynamic has not played out, right?

I mean, you see it everywhere.

Every listing I see now has at least over HDR-ed photos.

It feels to me like the counter incentive to don't lie about the photography has not actually resulted in the photography being more accurate.

Would you ever do the opposite and penalize the fake imagery?

Like a lot of platforms are having to consider this, right?

What's your point of view?

Yeah, all those assets are really complicated.

I feel like I could do another full hour on just what technology we're using to create virtual tours.

Let me ask you on that, right?

Like every sort of view of a database with its own custom extensions, and this is just, again, very reductive, very abstract,

There's always the opportunity to sort of extend the standard, to build the proprietary version, to capture audience by saying, you can only get this here.

It sounds like Showcase is one of those examples.

How broadly do you think about that dynamic, right?

There's the public database and then there's, we're going to add to it.