Zillow and Redfin earnings reflect slumping real estate market | Boring leadership

Bill Gates at Jeff Bezos’ engagement party | Amazon’s three-layered AI strategy ADVERTISEMENT [GeekWire]( SPONSOR MESSAGE: The Global AI Hackathon will bring together developers and hackers on Aug. 19th in Seattle to build generative AI applications that address real world problems and push the boundaries of what is possible with AI: [Apply now to come hack with us.]( TODAY'S TOP STORIES State of real estate: Earnings reports from Zillow Group and Redfin this week reveal insights into the real estate market — and how a limited housing supply and climbing mortgage rates are impacting their businesses. - Zillow expects a 15-to-20% year-over-year decline in industry transaction dollar volume for the third quarter. “We continue to expect it will take time to normalize to higher sales levels,” Zillow CEO Rich Barton (above, right) wrote in a shareholders letter. - Redfin CEO Glenn Kelman (above) provided a glimpse of hope. “Most economists once viewed a recession as unavoidable, and now see it as unlikely,” Kelman said. “When rates come down, the housing market will be poised to grow again.” [Read the story](. Amazon’s three-layered AI strategy: On the latest episode of the GeekWire Podcast, we look at how Amazon is positioning itself in the emerging era of generative artificial intelligence, assessing recent comments from Amazon CEO Andy Jassy on the company’s AI strategy. [Listen here]( or subscribe to GeekWire in [Apple Podcasts]( [Google Podcasts]( [Spotify]( or wherever you listen. Q&A with Amazon renewable energy leader: Amazon's experience reveals the sizable and relatively quick progress that a corporation can make in greening its electricity use. But the company's efforts also highlight the significant structural and political challenges that must be overcome if businesses and governments are to cut carbon emissions more quickly and dramatically. [Read more](. Hot Links: - Flood of down rounds: Startups in need of cash are raising new rounds at severely diminished valuations. ([The Information]( - Boring leadership: In contrast to Elon Musk and Mark Zuckerberg, the CEOs of Alphabet, Amazon, Apple, Microsoft, NVIDIA, and Uber are getting praise for their more measured approach. ([Financial Times]( - “Another dark day for the sport”: That’s the take from James Newell, managing director at Seattle venture firm Voyager Capital and a former University of Washington football player, on the disintegration of the Pac-12. ([Twitter]( - Not your typical engagement party: Bill Gates and girlfriend Paula Hurd were spotted on Jeff Bezos’ yacht in Italy. ([People]( Thanks for [subscribing]( to the GeekWire newsletter, and have a great weekend. — GeekWire Managing Editor Taylor Soper, taylor@geekwire.com. SPONSOR MESSAGE [How Medical Debt Impacts Your Credit Score]( Money Hacks is a financial education series from GeekWire and BECU, the member-owned, not-for-profit credit union. Get financial tips from Stacey Black, BECU lead financial educator, and find other resources to help you manage your money. [Learn more with Money Hacks.]( LATEST HEADLINES [Amazon renewable power leader on AI’s energy strain, a political dust-up in Oregon, and more]( [Amazon’s three-layered AI strategy, how AI startups can stand out, and hope for AI and humanity]( [Zillow and Redfin earnings reports reflect slumping real estate market]( GEEKWORK: TODAY'S TECH JOBS - [Submittable: Senior Software Engineer (Back End) – Data]( - [City of Newport: Systems Administrator I or II]( - [Submittable: Senior Software Engineering Manager]( - [Submittable: Staff Front End Software Engineer – Employee Engagement]( - [Submittable: Senior Software Engineer (Backend) – Employee Engagement]( - [NTTA- North Texas Tollway Authority: Sr ETL & Data Modeling Developer]( - [University of Washington Information School: Assistant Professor, Teaching Track – Information Management / Information System]( - [MedBridge: Software Engineer III (Back end)]( - [Submittable: Senior Machine Learning Scientist]( - [University of Washington Information School: IT Support Manager]( [FIND MORE JOBS ON GEEKWORK]( [HIRING? BUY A FEATURED LISTING TO APPEAR HERE]( [About GeekWire]( [Contact Us]( [Advertise]( Copyright © 2023 GeekWire LLC, All rights reserved. You are receiving this email because you opted to receive emails from GeekWire LLC.  Our mailing address is: GeekWire LLC 123 NW 36th St, Suite 203 Seattle, WA 98107  [change email frequency or address]( | [unsubscribe](