What could YC/Airbnb have done to prevent this? Anything you guys would do differently in hindsight?
Prevent what exactly?
Subject: Airbnb
81–90 of 146 posts
Re: Subject: Airbnb
#82Thanks for sharing PG, this is fascinating! We as entrepreneurs are generally busy trying to sell you and we rarely get to see your approach when "pitching" one of your companies. Your point by point break down of a market and how a company can grow into it is very insightful. I am taking note of your use of character validation (cereal story), peer validation (YC poll), market/community focus validation (out talking to users) and master vision for my own future investment communications. So short, subtle, and to the point, love it!
Re: Subject: Airbnb
#83Airbnb is a good startup but the founders struggled so much at first without gaining any significant traction. And even with PG's endorsement they still had trouble getting funding from a progressive-minded VC. I wonder if they (Airbnb's founders) could make it to this point without YC.
Re: Subject: Airbnb
#84I've told this story before on HN, but it's worth telling again. I rented a room in L.A. using Airbnb. The owner of the room said he made $4000 in 3 months on two rooms that would have otherwise been vacant. If you're making this much money for people you've tapped into one helluva market.
Wonder how elastic the market is. Don't know LA enough, but can assume that eventually too much demand will ruin the seemingly perfect situation. It's a luxury position. Huge profits were possible on ebay too at one point in time...
Re: Subject: Airbnb
#85Fascinating conversation. Thanks for giving insight into how these deals work... >ABNB reminds me of Etsy in that it facilitates real commerce in a marketplace model directly between two people. Interestingly enough, I still tend to side with Fred's assessment of AirBnB's future. All my experiences with it as a user have been too unreliable to expect that it can scale to truly massive usability. Selling your old guit…
I just did my first AirBNB experience (actually am still in the middle of it) and I can say that it's actually been surprisingly smooth. It's almost like a paid way to make friends. The hosts who I'm staying with are so cool, and since I'm pretty public online, it was easy for them to feel comfortable with me staying at their pad. They've set it up as much like a hotel as I could ask for. It's really great, and it's…
'It's almost like a paid way to make friends.' - love this :))
I stayed in like 4 airbn places in SV and learned: 1) That it certainly not for everyone, some ppl just dont need all this fun and pretty happy with avg hotel room. 2) If you think that its not for you, still please give it a try, there is a very serious chance that you will absolutely love it. (I was super skeptical too) 3) I dont pay Airbnb fee on second stay and just contact my 'paid friends' directly. They need to consider this and if its a problem in scale. 4) I absolutely love it and will only stay in hotel in worst case scenario if all my "paid friends" in area cant host me.
Re: Subject: Airbnb
#86Earlier quoted context omitted.
I just did my first AirBNB experience (actually am still in the middle of it) and I can say that it's actually been surprisingly smooth. It's almost like a paid way to make friends. The hosts who I'm staying with are so cool, and since I'm pretty public online, it was easy for them to feel comfortable with me staying at their pad. They've set it up as much like a hotel as I could ask for. It's really great, and it's…
Aww shucks, Thanks, Randall. We really enjoy hosting, and it seems like an even better deal for us (we get paid to make friends). About the only downside Iv'e experienced so far is that I have to wash sheets all the time (most people stay with us for 2-3 days and since we now have between 70%-100% occupancy thats a lot of sheet washing. I'm also about to go to Paris and the value proposition of airbnb there is even b…
If you're renting out your spare room 70-100% of the time, why don't you just get a roommate? Seems like it would be safer, less work, and you'd ideally have a better long term relationship.
Re: Subject: Airbnb
#87Re: Subject: Airbnb
#88Earlier quoted context omitted.
Is it terse or is it just concise? So many 'business' people think that long waffling sentences seem clever and impressive. Nothing is further from the truth.
This is neither terse nor concise. Terse and concise means you write what you mean. When the VC writes, "we are still in the data-gathering phase", he really means "I see what you are saying, but my gut says no right now. I may contact you in the future when I know more." This is longer, but it actually means something. Instead of saying that he needs more data in order to make a decision, he's said that he needs mor…
I was in data-gathering about coffee until I read that you wanted coffee too. I have asked an associate to bring in some coffee for discussion.
Re: Subject: Airbnb
#89Lesson: even pg can be rejected.
It's not the end of the world.