. >> when someone walks up to me with their new hammitt and says i love it, it's the new shiny ferra ferrari, the new shiny boat. >> what have you done with all the money? >> it's gone right back in. it's an opportunity to build something that will last way beyond my lifetime. >> no matter what kind of business you're in, i can promise you one thing. you're going to deal with tough times. and a lot of times it might be something that's completely out of your kroechlt spencer is the chief operating officer of zillo. he was one of the co-founders of hotwire.com. you're on the other sierkd at least for now. >> knock on wood. >> first of all, thank you for stopping by. >> thank you for having me. >> so the audience knows, you started hotwire and 9/11 started and people stopped buying and then there was the recession and people stopped buying homes. both companies survived. >> maybe i'm unlucky. >> or lucky because you're on the other side of both of them. >> you're right. these exogenous cases happened in both. what we did with hotwire in 2001, zillow in 2008 is, first of all, make sure the comp