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Citing revenue declines, Airbnb cuts 25% of workforce

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Re: Citing revenue declines, Airbnb cuts 25% of workforce

#731

Post by ryandrake »

TylerE wrote: post #704
eru wrote: post #692

Earlier quoted context omitted.

Many contracts still come with a notice period. So many people have contractual rights to a notice period. No requirement by law, yes. Most contracts with a notice period still allow the company to just pay it out and send you home on the spot.

A very small percentage of US workers have any sort of contract

Moreover, as a condition of employment, many (most?) US workers must sign an “employment agreement” which is essentially a legal document written by the company, for the company. It’s like an employment contract except with terms that only benefit the company.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#732

Post by manigandham »

adrianN wrote: post #729
manigandham wrote: post #723

Earlier quoted context omitted.

Sure, because nobody has ever taken a loan to start a business before. And VC funding doesn't exist. And mortgages are a falsehood. And companies are never bootstrapped either. I guess eventually owning a factory is just impossible right?

Yeah and I could become a rock star if I started playing the guitar. Getting loans is hard, especially if you're one of the working poor. Starting a company that doesn't die after a few years is harder. When you're one of the 40% of Americans who can't cover an unexpected $400 expense, if you company fails you're fucked. The social safety net in the US is a joke.

Yes, it's a trade-off. Less regulation and more freedom and flexibility at the cost of more social risk and personal responsibility. That's the American way.

I was simply stating that truth, not defending it nor saying other realities can't exist. But there is always a trade-off. What part of that is so controversial?

Perhaps things have changed and the balance needs to be shifted now. That's a great discussion to have, but let's actually have a discussion then.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#733

Post by ryandrake »

2019-nCoV wrote: post #639
lonbigtech wrote: post #630

Earlier quoted context omitted.

London isn’t more expensive than SF. And I have colleagues who make £450k+

> London isn’t more expensive than SF. Zurich is. > And I have colleagues who make £450k+ Just as there are American devs pocketing 7 figures annually. Again, the number of European devs making >$100k is a fraction of a percent. You can be making $100k in the US after a 6 month bootcamp or in AU/CA with a couple of years experience.

If you've read salary threads, you’d know that everyone on Hacker News makes $1.5 million per year as an entry level software engineer, owns three houses and a Ferrari, and has a supermodel significant other.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#734

Post by andruby »

fourmyle wrote: post #701
acituan wrote: post #689

Earlier quoted context omitted.

But your healthcare would be very cheap, if not free, wouldn't be tied to your employment; education cost would be minuscule compared to US; kids would benefit from the first two factors too; minimum annual vacation would be 4 weeks, mandated by law. Sticker price doesn't tell the whole story. I'm not saying that the total benefit is lower, but the cost of earning that $175k is definitely much higher than the cost of…

Health care is about $500 a month for someone in their 30s in the USA who is healthy. That doesn’t make up $125k.

Sending your kids to school all the way up including university costs about ~€10K per kid in Europe. How much would it cost in the US? ~$150K? I think that would make up another large chunk of price difference.

And: it’s available for every parent. Not just those in nice tech jobs.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#735

Post by concerned_user »

eanzenberg wrote: post #715
virtualritz wrote: post #676

Earlier quoted context omitted.

Pardon my frankness but that's BS. What are you referring to here? How much money buys you? Aka: costs of living? How much you make, converting EUR to USD? What industry? IT? I worked in a leadership position at a multi-national in Berlin for almost five years. I know the salaries the engineers had in CA & Chicago vs Germany. US was maybe 20% more max. In terms of what it buys you ... not so much. See below. Cost of…

It’s worth making 4x in the states and paying less taxes to boot. Forget cost of living, only rent is more expensive so tack on an extra $2k a month if you don’t want to live with roommates.

While you are young and healthy sure, but if something happens to you or when you get older, not so much.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#736

Post by eatbitseveryday »

adwn wrote: post #680
rhizome wrote: post #519

Earlier quoted context omitted.

Polio didn't stop. Smallpox is not extinct.

> Smallpox is not extinct. I beg to differ: "Through the success of the global eradication campaign, smallpox was finally pushed back to the horn of Africa and then to a single last natural case, which occurred in Somalia in 1977. A fatal laboratory-acquired case occurred in the United Kingdom in 1978. The global eradication of smallpox was certified, based on intense verification activities in countries, by a commis…

Smallpox is not extinct:

https://en.wikipedia.org/wiki/Smallpox_virus_retention_contr...

> The debate centers on whether or not the last two remnants of the virus known to cause smallpox, which are kept in tightly controlled government laboratories in the United States and Russia, should finally and irreversibly be destroyed.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#737

Post by three_seagrass »

filoleg wrote: post #511
three_seagrass wrote: post #461

Earlier quoted context omitted.

Microsoft isn't FANG, and even then, who do you think Microsoft's B2B customers serve and get their revenue from? Even those that are still B2B eventually need cash flows from consumer businesses. Hence the statement that we won't fully realize the losses until Q3. Less spending by consumers depresses all businesses, some sooner than others, but FANGs are definitely hurting.

>who do you think Microsoft's B2B customers serve and get their revenue from The cool thing about B2B, as opposed to consumer offerings, is that the contracts on those are usually multi-year. Just because the client enterprise suddenly receives less revenue from customers, it doesn't mean that they would be able to stop paying MSFT until the contract term is over. Unless this current lockdown situation lasts multiple…

That's not how B2B contracts work. They have clauses for breaking them. They are not paid out in bankruptcy. They tend to scale per variables like users or calls.

AirBnB is now paying for 7000 less exchange accounts and office licenses, and you have yet to explain how FANGs are doing well.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#738

Post by deaddodo »

virtualritz wrote: post #676
RhodesianHunter wrote: post #665

Earlier quoted context omitted.

From what I've seen 12 months pay in Germany is probably equivalent to 3.5 months pay in the US.

Pardon my frankness but that's BS. What are you referring to here? How much money buys you? Aka: costs of living? How much you make, converting EUR to USD? What industry? IT? I worked in a leadership position at a multi-national in Berlin for almost five years. I know the salaries the engineers had in CA & Chicago vs Germany. US was maybe 20% more max. In terms of what it buys you ... not so much. See below. Cost of…

They're referring to specifically the tech industry. Which is, most assuredly, higher paid in California than anywhere else around the globe (in the mean, there are obvious exceptions).

This comes from a person with EU citizenship who has shopped jobs/interviewed in multiple major cities in Europe; including Munich, Berlin, Amsterdam, London, Dublin and Prague.

It's not insignificant. We're talking 150-220k USD/yr in LA vs 75-95k EUR/yr in Amsterdam (as an example, since it paid the greatest during my search) for a similar seniority role. That's before accounting for nominal tax differences (~37% LA vs ~38-42% AMS; which is significant at that delta).

When I reviewed housing, Amsterdam wasn't significantly cheaper than LA, but it varied wildly based on where you wanted to live in both cities. LA apartments: 1200-4000USD, AMS Apartments: 930-3500EUR. The major plus in AMS being that you could live further from City Center and still reliably account for public transit. There's medical: free in AMS, $38/mo where I opted to work in LA. There's vacation time: 20-24days in AMS, flextime at my company. Etc.

I mean, there are more comparisons to be made; but those were the prime metrics I was interested in.

Re: Citing revenue declines, Airbnb cuts 25% of workforce

#739

Post by JSavageOne »

eganist wrote: post #68
ping_pong wrote: post #53

I'm shocked that 2020 revenues will come in only 50% below 2019. I don't think anyone will be travelling for the bulk of this year, especially with the looming threat of potentially getting sick in a foreign country or away from your home. It will take 5+ years for them to get back the same level of inventory/hosts/customers as they had in 2019. Many hosts will foreclose on their rented properties during 2020 or conv…

> I'm shocked that 2020 revenues will come in only 50% below 2019 This is a fair point, but it also suggests strongly that a significant minority of their business is month to month rentals, possibly in place of leasing. And hey, being frank, I wouldn't mind considering going somewhere else for a few months now that I can work remotely for a while.

As someone who's spent a significant amount of time staying in AirBnBs and other transient living, renting month-to-month on AirBnB is a terrible idea unless you're fine paying 2-3x more while AirBnB takes the difference. Also if you show up to the property and aren't satisfied with something (eg. WiFi doesn't work), or need to modify your booked dates, it is extremely difficult to get a refund because AirBnB's customer service is awful (to be fair I last had to deal with them in 2017, so maybe things have improved since then).

The smarter move is to book a 2-3 days and work out a deal with the host.

The current property I'm staying in I originally found on AirBnB for twice the price at which I'm currently paying. And I have the peace of mind of not being locked in to a place for weeks/months in advance since I don't know how long I'll stay here.

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