Nilay Patel

We're going to add our own proprietary information to this and say to every buyer, if you want the cool drone flyover, you're only going to get that in Zillow.

How does that dynamic work?

Because even, I don't know, you had a dispute with like Matterport, right?

Like there's these other providers that would love to be in your views.

And then there's the opportunity for you to capture that value yourself.

How do you think about the bounds?

Let me ask you one sort of last big picture question, then I want to ask you what's next broadly for Zillow.

Whenever I talk to people who use platforms, big platforms, there is this sense that they've lost agency, right?

And I think this is very true of the consumers on consumer platforms.

It is extraordinarily true.

of creators on the consumer platforms.

You ask a TikToker if they feel a tremendous amount of agency about TikTok, they do not feel that way.

I think more and more consumers do not know what the algorithms are showing them.

Real estate is a different business, a different market.

You've said many times Zillow is small.

But to many participants in this ecosystem, you're the platform.

And your rules are what makes things happen.

And as you build more software for the agents, the way your platform is designed will shape more of how they do things.

Certainly for buyers, the idea that their housing stock options are limited to what they see in Zillow feels like a constraint.

How do you give everybody in this ecosystem more of a sense of agency?