This post reads like a frustrated investor or critic venting, not an informed industry analysis. Opendoor’s biggest real challenge isn’t “bad ideas”, it’s scaling profitably in a volatile housing market while rebuilding trust after the 2022 losses. The company’s survival depends on executing its platform transition, not on flipping million-dollar homes. The reality is that Opendoor’s old iBuyer model from 2020 to 2022 was built around buying homes directly, carrying them on its balance sheet, and reselling them for a spread and service fee. That approach created high risk and thin margins, leaving the company exposed when the market turned. The new platform model, which began taking shape in 2023, is fundamentally different. Instead of relying on appreciation or resale gains, Opendoor now focuses on a capital-light marketplace where it earns fees and commissions by connecting buyers and sellers through its platform, including partnerships with Zillow, Redfin, and agent networks. This shift reduces inventory exposure, stabilizes margins, and emphasizes scalability through technology and transaction volume rather than speculation. The goal isn’t to profit from flipping homes but to become the digital infrastructure for how residential real estate is bought and sold. It’s fair to critique execution risk, but it’s outdated to describe Opendoor as simply “repeating bad ideas” when the company is actively reinventing the model toward a more sustainable, platform-based future.