Rich Barton (Zillow): “Transparency of Information is Power”

On the second day of the Kelsey Drilling Down 2008 Conference, we heard from Rich Barton, Chairman and CEO, Zillow. He exposed us to his thesis that lead to the various projects he’s been involved in in the last 10 years. Before founding Zillow, Barton founded Expedia when he was at Microsoft. His basic thesis is that transparency of information is power. This leads to a consumer revolution in various verticals, releasing things that were locked-up, especially around big financial decisions. He mentioned stockbroking, travel and real estate as three verticals that were forever altered by the arrival of the Web. He also mentioned three other companies he’s involved with in the following verticals: Legal (Avvo.com), Healthcare (Realself.com), and Employment (Glassdoor.com).

Rich Barton Zillow CEO

(picture: zillow.com)

He finished his presentation with a “Power to the people” manifesto that’s very telling in this user-generated content age:

  • Consumer crave information and power
  • If it can be known, it will be known by all (the web causes transparency)
  • If it can be rated, it will be rated
  • If it can be free, it will be free
  • Professionals who are active players in the new vertical marketplaces win
  • There can be no vertical marketplace without community
  • The digital media model rules (local is giant)

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