Nilay Patel

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?

Because you're the big platform, and they don't get to yell at you the way that I get to yell at you.

Yeah.

What about on the seller side, on the agent side specifically?

Because I know they feel constrained.

Yeah.

Zillow is 20 years old.

You're about to leave here and go ring the bell on the stock exchange.

What's next for the company?

Yeah.

Jeremy, this has been great.