With the current stock price a bit boring and we all feel frustrated, at least I felt better compiling this - alot has happened in Kaz first 108 days! This is a recap of what @nejatian has done since he joined as CEO 10th of september, only 108 days ago. Its actually too many things to put in here so look att this as a recap, not a complete list: Since Kaz Nejatian took over as CEO of Opendoor on September 10, 2025, he has implemented a series of radical changes to transform the company into what he calls "Opendoor 2.0." He has focused on introducing a "founder mode" mentality, significantly cutting costs, and making AI the core of the business model. Here is a summary of the key activities and strategic decisions Kaz has undertaken since his start: 1. Strategic Shift: AI-First Kaz, formerly the VP of Product and COO at Shopify, has redefined Opendoor as an AI company rather than just a real estate firm. Default to AI: He has ordered all teams to prioritize AI in their processes. Among other things, AI is now used to perform approximately 750 home valuations per week. Faster Valuations: Through AI, the time for a home assessment (from data collection to finished price offer) has been cut from nearly a full day to approximately 10 minutes. 2. "Founder Mode" and Organizational Changes Kaz has emphasized that the company has left "manager mode" to return to a more innovative and fast-paced culture. Significant Staff Reductions: In collaboration with Chairman Keith Rabois, an extensive restructuring has begun. The number of employees has decreased from approximately 1,400 in September to about 1,100 in November, with goals for even greater efficiency (Rabois has mentioned the company might eventually need as few as 200 employees). End of Remote Work: Kaz has reintroduced office requirements to foster innovation and collaboration. 3. Financial Measures and Shareholder Value To stabilize the stock and show confidence, Kaz has carried out several financial maneuvers: Personal Stock Purchase: On November 12, 2025, Kaz personally bought 125,000 shares for just over $1 million. Distribution of Warrants: In November, he announced a unique distribution of transferable warrants to existing shareholders. This was done to "reward loyal shareholders" while simultaneously creating difficulties for short sellers. Capital Injection: Upon his appointment, the company secured $40 million in financing from Khosla Ventures and co-founder Eric Wu. 4. Operational Expansion and Product Development Despite cost-cutting, Kaz has chosen to expand the company's digital reach: Nationwide Coverage: In December, Kaz announced that Opendoor now covers nearly every zip code in the United States through its digital services. Crypto Payments: As part of modernizing transactions, Opendoor can now accept USDC (a stablecoin) as a payment method for home purchases. Inventory Clearing: Since mid-September, the priority has been to sell off the old inventory of houses purchased under the previous management's strategy to free up capital for "Opendoor 2.0." 5. Communication and Transparency Kaz has changed how the company communicates with the market: "Financial Open House": Instead of traditional earnings calls, he introduced a format where results are streamed directly to investors on platforms like Robinhood with interactive Q&A. Focus on Unit Economics: He has been clear that the goal is to reach break-even by the end of 2026 by focusing on margins per house rather than just volume. 6. Key recruitments: 1. The "Shopify Mafia" (Key Hires) Kaz has brought over several former colleagues specializing in product and technology to accelerate the AI transition: Siddharth (Sid) Sharma: A former high-ranking executive from Shopify whom Kaz recruited to lead the product strategy and the integration of AI into valuation models. He is seen as Kaz’s right-hand man in building "Opendoor 2.0." The Engineering Team (AI & Infrastructure): Kaz has hired a small, elite team of AI engineers (some from Shopify and others from the OpenAI/Anthropic sphere) who work directly under him to automate the pricing engine. 2. Financial Leadership New CFO Structure: While Christy Schwartz has remained in the role of Interim CFO, Kaz has brought in external advisors with ties to Khosla Ventures to manage the new warrant structure and the financial instruments launched in November. 3. The Board (Strategic Additions) In Kaz's case, "hiring" also involves the board, where he works extremely closely with: Keith Rabois: Although Rabois was already involved, he took on a much more active role as Executive Chairman when Kaz started. Together, they function as a "leadership duo" to push through the tough personnel cuts. Kaz's Recruitment Philosophy It is important to note that Kaz is currently firing more people than he is hiring. His philosophy, shared in internal meetings, is: "Density over headcount": He wants fewer but significantly higher-performing employees ("A-players"). In-house AI Expertise: He has essentially stopped the recruitment of traditional real estate agents and administrators, focusing instead exclusively on hiring people who can build or operate AI tools. In summary, he has primarily hired product managers and AI developers from the Shopify ecosystem to reshape Opendoor's technical core. On 6th of October Morgan B was hired: Super excited to share that @morganb is joining us as 's Chief Growth Officer. Morgan is widely respected as one of the best growth leaders in software. He literally wrote the book on growth that every smart marketer has on their desk. One step at at time, we are tilting the world in favor of homeowners. This is a relatively big step! October: Buyer Peace of Mind Guarantee Launched new buyer benefits, including a 100-day home warranty and a 7-day home test drive allowing buyers to move in early and walk away if they don't love the home. On 22 th of December Coinbase Canada CEO Lucas M was hired: Opendoor team upgrade. Welcome @lucmatheson to Opendoor. As our President, he will lead financial planning and our tokenization efforts. I’ve known @lucmatheson for almost 7 years. He was frequently the smartest person in the room when I worked with him at Shopify and his work leading at Coinbase is so obviously exceptional. I am so happy that he has agreed to join our mission. Lucas M: "There has never been a better time to bring home ownership into the digital frontier." Tokenization underway? Expansion on zip codes where Open is buying homes, Dec 22th: Kaz saying: First pic took 10 *years* of work without AI. Second pic took 10 *weeks* of work with AI. See image below. Dec 23rd: Acquisition of Homebuyer.com. Dan Green is joining Opendoor as Director of Mortgage Growth. Dan founded Buyer Peace of Mind Guarantee, and now he’s bringing that expertise in-house to help us build a better mortgage experience. Image showing zip codes where Open now can buy homes.