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Airbnb S-1

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Re: Airbnb S-1

#431

Post by H8crilA »

azylman wrote: post #425
H8crilA wrote: post #364

Earlier quoted context omitted.

Okay, so how would you model that? Can you be precise? What's the lifetime revenue generated by $1 of ad spend? This number is critical, because if that number is too low then the equity is, mathematically, worthless. It's not about patience, it's about whether you're compounding a number that's >1 or a number that's <1. I just cannot tell.

Yes, companies have ways to do this with a decent amount of precision and accuracy based on existing user behaviors. They can often even be detailed enough to know that LTV differs depending on the channel that the customer was acquired by (e.g. organic vs. Facebook ads vs. search ads) and tailor their ad spend accordingly. I don't know what AirBnB's numbers are, companies aren't required to disclose this and they gu…

Yeah but as an investor why would you buy this stock, and at which price level if so? My point of view is that of an investor - how would I know if they're compounding up or down. Is it a zero? Is it great? All you're saying is "trust the management".

I am not saying they're doing a bad job, I am merely saying that it looks difficult to tell. Remember, the management has a huge incentive to sell you the stock regardless of the future value of the business, it's your job to figure out if it is a good idea.

Re: Airbnb S-1

#432

Post by quickthrower2 »

mrgordon wrote: post #298
kevindeasis wrote: post #248

Earlier quoted context omitted.

im not familiar with this, i havent read much about early employee stock options, what does this mean?

The stock options were written to expire after ten years and the ten year expiration date was coming up. Airbnb wanted to IPO to ensure these early employees got properly rewarded for their huge contributions. I’m not sure exactly why they couldn’t just grant replacement options but I believe this would cause issues with the cost basis / additional tax and they probably can’t issue equivalent options to some of those…

Do they need an ipo to exercise them? What about private sale of shares?

Re: Airbnb S-1

#433

Post by garmaine »

mcntsh wrote: post #400
littlecranky67 wrote: post #375

Earlier quoted context omitted.

Race and religion are definitely not required (=optional for you to give) when you register for permanent residency in Germany. Source: I am a german who completed the form multiple times after moving.

AFAIK there's a direct connection between the church you are apart of and the government via Kirchensteuer. As it relates to ethnicity, you're right. I can no longer edit my original comment though.

I think you can say “no religion” though and then not pay your tithing taxes, no? There’s no requirement that if you are Jewish you register as such (but then, your synagogue misses out on money).

Re: Airbnb S-1

#434

Post by pjanoman »

adaisadais wrote: post #412

I’m a millennial and I love using Airbnb. That being said I struggle to understand what the competitive advantage / moat is for Airbnb. Outside of brand / name recognition I don’t know any reasons why someone would pick Airbnb over VRBO or another service. Is there some sort of data play that they are making? Why would I invest in Airbnb when I could buy into a REIT or some other real estate asset? Would love some el…

I'm not extremely well-versed in this issue, but it seems like investing in Airbnb is completely different than investing in real estate itself. I feel like the comparison is similar to investing in Amazon versus investing in a company that sells its products on Amazon. Betting on real estate means betting on the value of the home/land increasing, while betting on Airbnb means betting on the company + the future of the market of renting homes.

I did some initial research on Airbnb vs. VRBO, and they do seem like very similar companies. However, VRBO started in 1995, while Airbnb started in 2008. VRBO had a head start, and yet has only 2 million listings in comparison to Airbnb's 7 million[0]. The faster growth of Airbnb in comparison to VRBO might be one reason you'd want to invest in Airbnb over VRBO, especially in an America that allows monopolies to thrive under certain conditions.

[0]: https://www.cnet.com/news/airbnb-vs-vrbo-which-is-the-best-v...

Re: Airbnb S-1

#435

Post by kirillzubovsky »

hantusk wrote: post #392
dustinmoris wrote: post #376

Personally I think AirBnb had its time. To me AirBnb is like a hotel, except: - No gym, sauna and other SPA facilities included - No breakfast buffet, restaurants or room service available - No room upgrades available - No early check in/late check out available - No 24/7 access available - No reception desk 24/7 available where I can ask for good recommendations, learn a bit more about the place without feeling awkw…

Wow, totally opposite my view. As a family we always want to stay somewhere with a kitchen and a private lounge area - hotel suites are cost prohibitive to this, and a lot less charming. When finding chalets or cabins/lodges for outdoor trips, Airbnbs are often much better located. To me it is not so much hotels they need to replace, but a streamlining of booking vacation houses to the point where it is almost as con…

In my case it's been both. While it was just my wife and I, the adventure nature of Airbnb was fantastic. In fact, we preferred cheaper places in better location and didn't mind the occasional `wtf` because the upsides were greater. After having kids, we still prefer Airbnb because we can get bigger spaces (more bedrooms, big living rooms), but the lack of consistency is making it more difficult to choose Bnb over hotels now. Now I want less adventure and more comfort. Losing sleep because someone's bed is too soft, or the A/C is too noisy is no longer acceptable. The reality is that we could get all of that on Airbnb, but then it won't be a good deal, it will be as or more expensive than getting a hotel. So it's not so much that Airbnb has changed, but our needs have changed while our purchasing power has remained the same. Just thinking out loud...

Re: Airbnb S-1

#436

Post by mnky9800n »

hantusk wrote: post #392
dustinmoris wrote: post #376

Personally I think AirBnb had its time. To me AirBnb is like a hotel, except: - No gym, sauna and other SPA facilities included - No breakfast buffet, restaurants or room service available - No room upgrades available - No early check in/late check out available - No 24/7 access available - No reception desk 24/7 available where I can ask for good recommendations, learn a bit more about the place without feeling awkw…

Wow, totally opposite my view. As a family we always want to stay somewhere with a kitchen and a private lounge area - hotel suites are cost prohibitive to this, and a lot less charming. When finding chalets or cabins/lodges for outdoor trips, Airbnbs are often much better located. To me it is not so much hotels they need to replace, but a streamlining of booking vacation houses to the point where it is almost as con…

Vrbo.com has existed forever and works well for this I think.

Re: Airbnb S-1

#437

Post by mnky9800n »

lucideer wrote: post #378
dustinmoris wrote: post #376

Personally I think AirBnb had its time. To me AirBnb is like a hotel, except: - No gym, sauna and other SPA facilities included - No breakfast buffet, restaurants or room service available - No room upgrades available - No early check in/late check out available - No 24/7 access available - No reception desk 24/7 available where I can ask for good recommendations, learn a bit more about the place without feeling awkw…

To come at this from the opposite perspective: AirBnB's best-case "ideal" setup has always struck me as just "CouchSurfing[0] but monetised". While AirBnB has received a lot negative press for facilitating the letting of would-be residential property by large-scale professional landlords, the marketing from AirBnB's side has always favoured the "local guide, personal human experience" angle, an angle CouchSurfing has…

Couch surfing.com is basically dead these days because they've had to collect money to stay afloat. But tbh, I felt like there were a lot of pervy guys on there based on how every girl I met had some story of a guy thinking a free couch meant that she should fuck him in exchange. And couch surfing.com basically had no way to filter that.

Re: Airbnb S-1

#439

Post by garmaine »

chrisseaton wrote: post #366
mcntsh wrote: post #365

Earlier quoted context omitted.

Hmm I've never been asked this on any official form other than when I register to vote (so I can join a party), and that's optional.

Right... but why does the state want to know which party you're a member of? This doesn't get supervised by the state in other countries. It's usually a personal, private matter between you and the party.

It's for two reasons:

First we have a system of primary elections, and in many jurisdictions your party registration status determines which primary you can vote in. You have to be registered Democrat to vote Democrat, registered Republican to vote Republican, etc. The local election board is the one who oversees to vote, so they need to know your party registration in order to make sure you get the right ballot and the right ballot information (which is sent by mail beforehand). In many jurisdictions you can also "decline to state" and then in a primary election you have to tell them each time which ballot you want.

Second, it's used in state redistricting. Having this information be public allows auditors to check if redistricting is resulting in gerrymandering.

Re: Airbnb S-1

#440

Post by chrisseaton »

garmaine wrote: post #439
chrisseaton wrote: post #366

Earlier quoted context omitted.

Right... but why does the state want to know which party you're a member of? This doesn't get supervised by the state in other countries. It's usually a personal, private matter between you and the party.

It's for two reasons: First we have a system of primary elections, and in many jurisdictions your party registration status determines which primary you can vote in. You have to be registered Democrat to vote Democrat, registered Republican to vote Republican, etc. The local election board is the one who oversees to vote, so they need to know your party registration in order to make sure you get the right ballot and…

But I feel like I can keep asking ‘why’. Why does the state have its nose in political party business? Why are they running party primaries? Seems like something that should be firewalled off from the state?

In other countries parties run their own candidate selections as private business and the state can’t meddle in it, so the state doesn’t have to ask what what your affiliation is.

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