FinTech is retreating... We shouldn't!
Just got this email:
"Thanks for requesting an offer on ....... from Opendoor.
Given the uncertainty surrounding the impact of COVID-19 across our markets and concern for the health and safety of our customers and employees, we are temporarily pausing the purchase of homes. When the situation changes, we'll reach back out. Thank you so much for your understanding during these unprecedented times."
They are operating on low margins and can't handle the uncertainty. But we can. With their massive advertising they were picking up most of the low hanging fruit. There will be some vacuum created by their departure, even though it may be temporarity.
I'd say we ought to get busier.