In this issue:

• iBuying is as Hard as it Looks

• Tech Realignment

• Faces

• After High Take Rates

• Broader Blacklists

iBuying is as Hard as it Looks

Zillow's sudden and expensive exit from the instant-offer market—laying off 25% of staff, writing down $304m in Q3 and another $240m-$265m next quarter—is in one sense more admirably bold than their decision to get into i…