Mark Zuckerberg, CEO of Meta, has hired three researchers from OpenAI to bolster his company’s work on artificial intelligence. This strategic move aims to guide Meta Platforms through its current AI challenges. The social-media corporation brought aboard Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai, all of whom previously held positions at OpenAI’s branch in Zurich, as per sources privy to this information. These individuals established OpenAI’s location in Zurich towards the end of last year. Prior to their time at OpenAI, they collaborated closely within Google DeepMind, which is the organization’s artificial intelligence division. A representative from OpenAI verified that the three scientists have departed from the organization. Zuckerberg has been on an intense recruiting drive To correct the company’s AI initiatives following the underwhelming reception of its most recent model, he has sometimes proposed giving researchers up to $100 million to become part o...
The real estate behemoth Compass submitted a lawsuit Compass is opposing popular home-buying website Zillow due to one of its recent regulations. They refer to this as the "Zillow ban" and argue that it breaches antitrust laws.
Zillow's new rule
Zillow announced The updated regulation introduced in April became operative on May 28.
According to Zillow, once a property listing becomes available for public viewing—whether through a brokerage’s webpage or a roadside sign—it needs to be entered into an MLS system within 24 hours and also posted on platforms like Zillow which pay for these listings.
The company stated that 'a listing advertised for any potential purchaser should be promoted to all potential purchasers' upon announcing the new regulation. Additionally, Zillow mentioned that if a listing is submitted but does not get incorporated into an MLS during this period, it won’t be published on their platform.
Compass lawsuit
Compass refers to this as the "Zillow ban" and asserts that it violates legal standards. They strive to provide their clientele with an edge by publishing property details prior to them appearing on Zillow. Compass argues that Zillow, by exerting its market control, is engaging in monopolistic practices through such restrictions on external listings.
"Protecting consumer choice is at the heart of this legal action," stated Robert Reffkin, CEO of Compass, in an official release shared with several media outlets, including CBS News No single company ought to possess the authority to prohibit agents or listings merely due to their failure to adhere to that company’s business approach.
The company asserts they are protecting their multi-faceted approach aimed at enhancing services for sellers. This strategy encompasses “private exclusive” postings, “coming soon” announcements, followed by transitioning these listings onto Multiple Listing Service (MLS) platforms.
Clear Cooperation Policy
This disagreement stems from the National Association of Realtors' (NAR) Clear Cooperation Policy, commonly referred to as the CCP. rule came into force in 2020 and mandates that agents must upload details of a listed property to their Multiple Listing Service within one working day after starting to market it.
The compass indicates that the regulation was initially suggested due to Compass adopting an inventory-focused approach. Many professionals within the sector often called it the "compass guideline" at the time.
The Compass statement indicates that Zillow believes the current regulation falls short. In 2024, Zillow submitted a request to NAR asking for an enhancement of CCP, stating, “NAR ought to broaden CCP to eliminate office exclusives.”
Further allegations
Aside from allegations that Zillow is trying to establish a monopoly, there are various additional points to consider. claims in the lawsuit.
Compass claims that Zillow colluded with rival home-listing website Redfin to implement a comparable policy, anticipated to be enforced in September. The Federal Trade Commission (FTC) has become involved as well. reportedly examining an agreement between Zillow and Redfin.
Compass further claims that Zillow suggested a quid pro quo arrangement during a recent gathering of executives from both companies. According to Compass, Zillow proposed offering financial benefits in exchange for halting their newly implemented multi-faceted marketing approach.
Next steps
In a statement to CBS MoneyWatch A representative from Zillow stated that Compass' allegations are without merit and indicated that they intend to contest the lawsuit.
Redfin hasn't made any statements regarding this lawsuit or its reference within it.
The Compass company has requested a jury trial.