Knock Knock. Who's There? Opendoor. Chamath Just SPAC'd The Amazon Of Housing

About: Social Capital Hedosophia Holdings Corp. II (IPOB), RDFN, Z, Includes: AIRB, AMZN, CVNA, DPZ, EBAY, EBAYL, GOOG, GOOGL, NKLA, NKLAW, PYPL, SFTBF, SFTBY, WE, YELP, ZG
by: Not Boring
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Not Boring
Growth, Tech, Writes About Business Strategy

Most people’s reaction to a company like Opendoor is, “Cool idea. Won’t actually work.”.

At least one person sees the vision. Last Tuesday, Chamath Palihapitiya announced that his SPAC, Social Capital Hedosophia II (IPOB) is merging with Opendoor to take it public at a $4.8 billion valuation.

The more I dig into Opendoor, the more bullish I get.

It’s hard to avoid SPACs. Everyone has one, Nikola (NKLA) is looking more and more like a fraud, and Chamath just launched three more. It’s easy to dismiss SPACs as a