How Does Opendoor Build a Huge Business?

After a run-up to $18, IPO B closed the week at $14.60. The bear case is that Opendoor isn't profitable and may never be. It's too capital intensive; most people won't want to sell their houses online. But of course it's done well in a rising market, waiting till we see a downturn. Zillow laid off 35% of its workforce, just another overfunded soft bank house of cards.