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Airbnb S-1

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Re: Airbnb S-1

#181

Post by firekvz »

Airbnb was cool when it was a place to share with hosts and rent a bed and a breakfast during my trips, allowing me to save some money and meeting some cool people.

now it’s just a boring business of terrible managed apartments with really bad amenities and problems that make you lose time and totally diverges you from the whole concept of hassle-free vacation/renting.

My last 5 airbnbs were apartments fully setted up to be rented in Airbnb just for the money and not for the experience and good service, every single one of them were so much problematic to check-in/check-out, I was charged insane cleaning fees even tho the places were not clean and were never cleaned, I had to deal with people putting cameras around totally disrupting your privacy, I had to deal with overcrowded apartments (some guy decided to rent every room in his place and sleep in the living room without mentioning it anywhere in the listing), I had to deal with last minute cancels that almost made me sleep in the street, etc.

Worth mentioning that all of those bad experiences came from places that were marked as "superhost" and had quite a lot of reviews.

Aand lastly, Airbnb decided to just void a 500$ giftcard that I got in 2018 and I tried to use early 2020 and they said it was invalid, I just lost the money.

Airbnb it’s just death for me

Re: Airbnb S-1

#182

Post by newguy1234 »

pathseeker wrote: post #172
newguy1234 wrote: post #139

Earlier quoted context omitted.

Easiest solution is to force new hosts to provide a "surety bond" to basically be an honest host. Maybe make them pay 10-25k lump-sum in cash. After a certain amount of guests have visited the offering then the money can be returned. If the host is a scammer then the money can be used to reimburse the guests for their troubles. The risk vs rewards under this system would discourage bad hosts from joining the platform…

>Maybe make them pay 10-25k lump-sum in cash. After a certain amount of guests have visited the offering then the money can be returned. This is so detached from reality. It would wipe out probably 99% of listings from people not doing it professionally.

The lump-sum fee is just an example number. It could be less for smaller rentals but the point is still there. You need to force new hosts to "prove" they're going to be honest and have a penalty for those who aren't honest. This same concept is used in the cryptocurrency world where you need people to have trust. One example I can point to is Storj where they withhold earnings from people who don't perform per the agreed terms (in this case keeping your storage node running 24/7).

It is okay if certain people are excluded because you only want people hosting that are SERIOUS about doing it. If you can't do the surety bond then you simply aren't ready to be a host. It really is that simple.

Re: Airbnb S-1

#183

Post by cheriot »

seanmcdirmid wrote: post #168
SilasX wrote: post #159

Earlier quoted context omitted.

I had that exact experience in the famously non-corrupt Netherlands (2017). It’s not a China thing.

Does the Netherlands have a rule that you register with the local public security bureau for wherever you are staying? I really don't see AirBnB working in China because of that.

Small, family run hostels in China manage to figure it out. AirBnBs in middle income countries operate much more like hotels than the empty apartments they're known for in the US and Europe.

Re: Airbnb S-1

#184

Post by toomuchtodo »

pathseeker wrote: post #174
beambot wrote: post #122

Earlier quoted context omitted.

It's much more tax efficient for Chesky to get loans against his equity in lieu of cash compensation -- especially if he believes that the equity will grow dramatically in value due to an IPO.

I've heard this before, but what advantage does the loan have? Doesn't the CEO still pay just as much tax when he/she sells the stock to pay down the loan? Is it just to allow the stock a chance to appreciate?

It's to capture future possible growth and defer taxes into the future.

Re: Airbnb S-1

#185

Post by chrisseaton »

firekvz wrote: post #181

Airbnb was cool when it was a place to share with hosts and rent a bed and a breakfast during my trips, allowing me to save some money and meeting some cool people. now it’s just a boring business of terrible managed apartments with really bad amenities and problems that make you lose time and totally diverges you from the whole concept of hassle-free vacation/renting. My last 5 airbnbs were apartments fully setted u…

Why don't you use an hotel?

Re: Airbnb S-1

#186

Post by [deleted] »

11thEarlOfMar wrote: post #165

In my view, AirBnb made the travel pie substantially larger. More people can afford to travel when rooms in far away places can be rented for small amounts. If the choice is not traveling at all vs. putting up with the friction of finding the property and getting the key, reviewing the house rules and then stripping the bed and taking out the trash before you check out, many people will choose the convenience hit and…

[deleted]

Re: Airbnb S-1

#187

Post by toomuchtodo »

Marciplan wrote: post #130
beambot wrote: post #122

Earlier quoted context omitted.

It's much more tax efficient for Chesky to get loans against his equity in lieu of cash compensation -- especially if he believes that the equity will grow dramatically in value due to an IPO.

Hi! Random q, but where could I read more on this specific topic? :)

For public securities, margin or a pledged asset line. If it's private equity (structured lending), you'll need to speak with a banker who can structure a deal specifically for you based on an illiquid PE holding.

Re: Airbnb S-1

#188

Post by dillondoyle »

xoxoy wrote: post #116
aliston wrote: post #84

The seesaw in revenue over the last 3 quarters is insane: 841M, 334M, 1.3B in Q1, Q2, Q3. They even posted a profit last quarter. I've gotta say, the S1 looks appealing considering how few profitable silicon valley companies there are these days. On the other hand, I have a hard time interpreting whether this is truly a profitable company since the numbers are all over the place. It also looks like Q3 tends to be the…

It’s similar to what you see in the broader stock market - I mean we closed at all time highs today. But Q3 was likely an anomaly since they saw a lot of tailwinds from greater demand for homes in driving distance for easier summer vacations plus Covid was only concentrated in a few hot spots over the summer. Now Covid is more widespread plus there’s naturally less leisure travel in the winter and still very little r…

Plus a home has less exposure for COVID than a hotel.

I would also guess that long term bookings are up

Re: Airbnb S-1

#189

Post by firekvz »

chrisseaton wrote: post #185
firekvz wrote: post #181

Airbnb was cool when it was a place to share with hosts and rent a bed and a breakfast during my trips, allowing me to save some money and meeting some cool people. now it’s just a boring business of terrible managed apartments with really bad amenities and problems that make you lose time and totally diverges you from the whole concept of hassle-free vacation/renting. My last 5 airbnbs were apartments fully setted u…

Why don't you use an hotel?

I will the next time.

Re: Airbnb S-1

#190

Post by BMorearty »

firekvz wrote: post #181

Airbnb was cool when it was a place to share with hosts and rent a bed and a breakfast during my trips, allowing me to save some money and meeting some cool people. now it’s just a boring business of terrible managed apartments with really bad amenities and problems that make you lose time and totally diverges you from the whole concept of hassle-free vacation/renting. My last 5 airbnbs were apartments fully setted u…

My experience has been really different from yours. After my first stay in an Airbnb five years ago I learned I needed to be more careful about reading the reviews and the descriptions. Since then I’ve only had positive experiences. The places I stay in are usual run by an individual, not a manager (and when it is a manager it’s clear up front). The service has been fantastic and the places have been beautiful. My last stay was amazing. With my family at a house in San Juan Bautista, with a private lake, the last week before my kids went back to school.
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