Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
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Re: Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
#2How? What are they spending their money on? They need to put people on leave and "pause" their business as quickly as possible!
Re: Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
#3Weren't they already losing money prior to this? Seems like a lot of companies are attributing losses to the Coronavirus masking the actual problem behind it all.
Re: Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
#4It's kind of frightening to think of the broader economic impact it would have on the whole real estate market if Airbnb went belly up. Aren't there a ton of cases where people are mortgaging multiple homes and paying them off with the revenue they generate? That cash just dried up over night and there doesn't appear to be any incoming federal support.
Edit: Look, I'm all for affordable housing, but when viewing this within the context of a looming recession and potential financial crisis I can assure you that the last thing you want to do is add in a potential amplifier to a housing market crash. Houses may get cheaper, but everyone is going to suffer in very difficult to imagine ways. Corporate debt markets are looking scary as hell right now. If you threw a housing market meltdown at it right now, we could easily be looking at something much much worse than what we saw in '08.
Re: Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
#5It will be interesting to see what happens to all these VC-backed companies that have been losing money for years and are still not profitable.
When the VC money runs out not even government bailouts will help. Helping money-losing companies to lose more money isn't in the interest of a government unless they are essential to the rest of the economy or national security.
Maybe the bay area will be hit much harder than other companies.
Re: Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
#6It's kind of frightening to think of the broader economic impact it would have on the whole real estate market if Airbnb went belly up. Aren't there a ton of cases where people are mortgaging multiple homes and paying them off with the revenue they generate? That cash just dried up over night and there doesn't appear to be any incoming federal support. Edit: Look, I'm all for affordable housing, but when viewing this…
Our new reality is getting scarier.
Re: Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
#7Weren't they already losing money prior to this? Seems like a lot of companies are attributing losses to the Coronavirus masking the actual problem behind it all.
I also wonder this, isn't Airbnb your typical venture capital company.
Re: Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
#8How? What are they spending their money on? They need to put people on leave and "pause" their business as quickly as possible!
They’re losing revenue due to the massive amount of recently cancellations.
Re: Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
#9Makes me wonder if they will start to offer "trip protection" or the like. The economics of it checks out.
Re: Airbnb Racks Up Hundreds of Millions in Losses Due to Coronavirus
#10Absolutely nobody find I surprising that China claims no new cases? I'm beginning to wonder if they're lying...
(For Chinese two cent army, look up tiananmen square)