The property technology sector has faced significant setbacks due to higher interest rates, a capital market retraction, and a shift in venture capital focus towards artificial intelligence. Brendan Wallace, co-founder of Fifth Wall, described the last few years as an 'extinction event' for many companies in the sector. Despite this, there are signs of recovery, such as the successful IPO of ServiceTitan and the emergence of new unicorns like Bilt. However, climate-related property tech is increasingly challenged by a political shift away from sustainability in the U.S. While national policies may be anti-climate, local governments continue to seek ways to raise capital through initiatives like carbon taxes. Wallace remains optimistic about the long-term potential of property tech, emphasizing the need for decarbonization in an industry responsible for a significant portion of carbon emissions.