Spencer Rascoff

My title might be CEO and your title might be CTO and your title might be CMO, but we're a leadership team together. So... We all should feel responsibility for things. So yes, I think it's a little bit more as CEO, but I'm not sure it's that different, at least the way we ran the company. There, see, I just did it.

My title might be CEO and your title might be CTO and your title might be CMO, but we're a leadership team together. So... We all should feel responsibility for things. So yes, I think it's a little bit more as CEO, but I'm not sure it's that different, at least the way we ran the company. There, see, I just did it.

I just said subconsciously the way we ran the company, not the way I ran the company.

I just said subconsciously the way we ran the company, not the way I ran the company.

So about five years earlier, maybe four, four years earlier, when I was still CEO of Zillow, I moved from Seattle to Los Angeles. I've been in Seattle for 15 years and I wanted to be in Los Angeles because my parents were there. My wife's parents were there. And we needed to move closer to home where we both grew up, which is Los Angeles.

So about five years earlier, maybe four, four years earlier, when I was still CEO of Zillow, I moved from Seattle to Los Angeles. I've been in Seattle for 15 years and I wanted to be in Los Angeles because my parents were there. My wife's parents were there. And we needed to move closer to home where we both grew up, which is Los Angeles.

So for several years, for three or four years, I was commuting from LA to Seattle every single week. That was hard. That was very exhausting. And so by 2019, I started the company. I'd taken it public. I'd got its profitability. I got it to 20 billion market cap. I had launched these new businesses and felt like I accomplished everything I hoped to accomplish there. And I was tired of commuting.

So for several years, for three or four years, I was commuting from LA to Seattle every single week. That was hard. That was very exhausting. And so by 2019, I started the company. I'd taken it public. I'd got its profitability. I got it to 20 billion market cap. I had launched these new businesses and felt like I accomplished everything I hoped to accomplish there. And I was tired of commuting.

So it seemed like a good time to retire from that role. So that's why I stepped down in 2019. And it was a seamless transition because my co-founder, who had been chairman all that time, just stepped in as CEO. So easy squeezy.

So it seemed like a good time to retire from that role. So that's why I stepped down in 2019. And it was a seamless transition because my co-founder, who had been chairman all that time, just stepped in as CEO. So easy squeezy.

You know, I stayed on the board for about a year and then started starting new companies at that point. And once I started starting new companies, it didn't really make sense for me to stay on the board of Zillow. The pandemic, I was gone from Zillow by the time that was in full swing. So I can't really speak to how Zillow managed through it.

You know, I stayed on the board for about a year and then started starting new companies at that point. And once I started starting new companies, it didn't really make sense for me to stay on the board of Zillow. The pandemic, I was gone from Zillow by the time that was in full swing. So I can't really speak to how Zillow managed through it.

You've heard now two of my companies, Hotwire, which had a crisis two years in, and then Zillow that had a crisis two years in with the financial crisis. My next company, Picasso, also had this crisis, which was the pandemic. So we started Picasso right before the pandemic. And Picasso is co-ownership of luxury vacation homes, like a NetJets for vacation homes.

You've heard now two of my companies, Hotwire, which had a crisis two years in, and then Zillow that had a crisis two years in with the financial crisis. My next company, Picasso, also had this crisis, which was the pandemic. So we started Picasso right before the pandemic. And Picasso is co-ownership of luxury vacation homes, like a NetJets for vacation homes.

And the idea for Picasso is that people co-own the home with other families that they don't necessarily know. So when the pandemic happened, I said, oh my God, it's happening again for a third time because are people really going to be willing? I mean, just remember how people were afraid of germs back then. We weren't even accepting packages.

And the idea for Picasso is that people co-own the home with other families that they don't necessarily know. So when the pandemic happened, I said, oh my God, it's happening again for a third time because are people really going to be willing? I mean, just remember how people were afraid of germs back then. We weren't even accepting packages.

You'd leave your groceries at your front door or at the garage for six hours or your Amazon packages. in order to let the cooties wash away. So are people really gonna own a house together with strangers? Like, oh my God, you know, people are never gonna accept that health risk. So I was pretty worried about the impact, very worried that it would have on Picasso.

You'd leave your groceries at your front door or at the garage for six hours or your Amazon packages. in order to let the cooties wash away. So are people really gonna own a house together with strangers? Like, oh my God, you know, people are never gonna accept that health risk. So I was pretty worried about the impact, very worried that it would have on Picasso.

It turned out that the pandemic and the quarantine was very good for Picasso. Again, silver lining, just like Hotwire had, just like Zillow had. The silver lining was demand for second homes went through the roof when people started working from home and people wanted a place to get away from their primary residence. So Picasso had a rocket ship start.

It turned out that the pandemic and the quarantine was very good for Picasso. Again, silver lining, just like Hotwire had, just like Zillow had. The silver lining was demand for second homes went through the roof when people started working from home and people wanted a place to get away from their primary residence. So Picasso had a rocket ship start.