Now that the dust has settled, we can ask how could the smart and savvy team at Zillow Group, armed with cutting-edge AI methods and mountains of data, lose half a billion dollars buying homes in the second half of 2021. This post identifies two Achilles’ heels that led to this debacle: the “inside information” advantage of homeowners coupled with unanticipated changes in home prices over time. It’...
from GeekWire https://www.geekwire.com/2022/commentary-how-homeowners-defeated-zillows-ai-ultimately-leading-to-zillow-offers-demise/