This Week in Startups Zillow falls after iBuying collapse, Biden Admin’s stablecoin report + LeadIQ’s Mei Siauw | E1318
Nov 3, 2021
Mei Siauw, CEO of LeadIQ, shares her incredible journey of scaling a SaaS company from $500 to over $10 million in revenue. She discusses the challenges of maintaining a distributed team and the importance of building trust and transparency. The conversation also dives into Zillow's staggering losses after their iBuying collapse, as well as the implications of the Biden Administration's stablecoin report. Insights on navigating startup fundraising, enhancing team collaboration, and learning from customer feedback make this discussion a must-listen.
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Zillow's iBuying Failure
- Zillow's iBuying business imploded, losing billions and leading to layoffs.
- Their algorithm-based home buying proved flawed, missing critical qualitative data.
Data vs. Local Knowledge
- Real estate brokers possess valuable local knowledge that algorithms lack.
- This qualitative data can reveal crucial deal-breakers like noisy neighbors or undesirable locations.
Embrace Bold Bets
- Take bold bets in business, even if they don't always pay off.
- Zillow's iBuying failure is a learning experience, not a fatal blow.