In the cutthroat world of tech startups, Kaz Nejatian is making waves at Opendoor with a radical vision to transform home buying. After nearly being delisted from Nasdaq earlier this year, the real estate tech platform experienced a surprising revival driven by passionate retail investors dubbed the “Open Army”.

Nejatian, formerly Shopify’s COO, isn’t just another corporate executive. With an annual salary of $1 and compensation tied entirely to stock performance, he’s laser-focused on reimagining how Americans buy and sell homes. His ambitious plan involves leveraging AI, reducing operational complexity, and creating a more transparent home transaction ecosystem.

The company’s strategy is bold: streamline home purchases through technology, reduce friction in real estate transactions, and make homeownership more accessible. By cutting outside consultants, reducing headcount by 20%, and mandating an AI-first approach, Nejatian hopes to turn Opendoor profitable by next year.

“If we can make buying, selling, and owning a home easier and less terrible, the world will be a better place,” Nejatian explains. His frustration is palpable - the average first-time homebuyer is now 40 years old, a statistic he finds “deeply depressing”.

Opendoor’s innovative approach includes instant online home purchases, guaranteed warranties, and a seven-day return policy in Texas. The company aims to create a platform where sellers and buyers can transact seamlessly, challenging traditional real estate models.

Looking ahead, Nejatian is betting on home tokenization - transforming property ownership into easily tradable digital assets. While this concept remains nascent, he believes it’s crucial for the future of real estate technology.

As Opendoor enters what internal teams call “Opendoor 2.0,” the company is positioning itself as a potential disruptor in a market ripe for technological intervention. With Nejatian at the helm, the company is betting that software, AI, and a relentless focus on user experience can revolutionize how we think about home ownership.