Nilay Patel

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.

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.