Citing revenue declines, Airbnb cuts 25% of workforce • Hacker News Board

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

#931

Post by john117 » Fri, May 08, 2020, 10:57 AM UTC

bryanrasmussen wrote: post #730

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.

googling Silicon Valley programmer wages I got https://www.glassdoor.com/Salaries/san-jose-computer-program... Which basically the average Silicon valley wage is the wage I am making now. However that is with quite a bit of seniority, I've noticed offers from Germany are generally lower than what I make but Germany costs less. If I were starting out right now I would probably make 60% of what I make now. My guesstima…

Those wages are severely off. Glassdoor is no longer used in the United States to research wages for tech. An average engineer at a top tech company makes well over 250k USD per annum.

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

#932

Post by IkmoIkmo » Fri, May 08, 2020, 4:07 PM UTC

afjl wrote: post #406

r00fus wrote: post #373

Earlier quoted context omitted.

> Or professional airbnb companies which purchased real estate that's only economic with large revenues, financed with leveraged mortgages, many of these companies are set to collapse in a 3-month shutdown, let alone a 6-month low-activity industry. A lot of these will be folding and selling their properties. I wonder how this is or will impact the real-estate market? Are enough people going to foreclose without inte…

I think it's highly unlikely...but I'd be very happy to be wrong, too. These highly-leveraged "new" companies and individuals make up only a portion of AirBnB-rented homes, which themselves are only a small portion of the entire housing market. There was a very recent interview or article with AirBnB's CEO where he (I'm sure he was fudging the numbers a bit) said only 1/3 of AirBNB homes are actually owned by these k…

Yes that's of course what the CEO wants to say, because professional airbnb = hotel company not playing by the hotel regulations/license rules, plus it's pushing out locals. So he downplays that and wants to make it seem as if airbnb is majority-driven by mom n pop folk, who make available a free room or their home some of the time to supplement income a bit, harmless.

In reality, a typical person (like me) would rent out their space about 10 days a year, while an airbnb company aims for 365. Could very well be that 2/3rd of listings are average-joes and 1/3rd are professional.

But in terms of nightly stays, it could still be about 20 professional to 1 average-joe. And those nightly stays ultimately reflect the revenue that drives the economics of these properties, airbnb's business and the impact on the local market.

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

#933

Post by manigandham » Sat, May 09, 2020, 12:09 AM UTC

LunaSea wrote: post #921

manigandham wrote: post #887

Earlier quoted context omitted.

You don't have to keep working. Workers compensation, life insurance, long-term care policies all exist. There's really not much different in what's available, only who's responsible for it. In America, you earn and keep more and it's up to you to allocate properly (or not). In other countries, the government does it all for you to ensure there's a base level of support for everyone.

It's not a question of availability it's a question of price. If you need to pay for a very expensive medical insurance then you can only afford it while employed which you won't be if you have health issues that prevent you from doing so or get fired.

That is not how it works at all. America has both public funded (federal Medicare, state-level benefits, etc) and private insurance (either personal or group policies through your employer).

There are plenty of choices for continued care and coverage, as long as you plan for it. That's the major difference. It requires you to actively plan for your retirement and old age. Other countries just do that for you in exchange for a heavy tax.

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

#934

Post by fourmyle » Sat, May 09, 2020, 2:03 AM UTC

acituan wrote: post #928

fourmyle wrote: post #912

Earlier quoted context omitted.

$100k/yr savings over 10 years is $1M. Were you assuming someone would blow the money?

To give one idea, nursing home room cost is 100k/year. Considering the possibility of chronic conditions, specialized treatments and overall increase in healthcare usage, in the span between 70-90 it is very easy go over >2M.

My parents put up grandma with Dementia in PA for about $50k a year in nice place. Are you drawing figures from movie star nursing homes in LA or something? Do you think the average American just puts a bullet in their head after 70? The household income in this country is about $60k a year. Your math is ludicrous.

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

#935

Post by manigandham » Sat, May 09, 2020, 4:47 AM UTC

jashmatthews wrote: post #826

manigandham wrote: post #800

Earlier quoted context omitted.

Amazon 2019 revenue is $280B, which is greater than every company you listed and tied with Volkswagen. Valuation reflects market sentiment and potential but perhaps I should have left it out. The real focus is the "world-changing" aspect of the products produced. What have been the recent global innovations produced by those German companies? Anything turned into a household name?

Every Apple iPhone and Watch uses Bosch's gyroscope and accelerometer tech. They're also the market leader in smaller EV tech used in electric motorcycles, bikes and scooters. It all goes out to consumers without them knowing. Even Tesla use Bosch parts. That's why they're called a "hidden champion".

The whole is greater than the sum of the parts. It's what you do with that internal tech that matters.

We've had gyroscopes for a century. The iPhone is innovative because it used that to implement a new device that changed mobile computing.

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

#936

Post by shuckles » Sun, May 10, 2020, 11:47 PM UTC

r00fus wrote: post #898

shuckles wrote: post #526

Earlier quoted context omitted.

The USA's unemployment rate in March 2020 (4.4%) was lower than the EU's unemployment rate in January 2020 (6.2%) according to a very casual Google search. I'm curious how you're drawing this. Are you saying the EU has lower unemployment today than it did in January?

It's amusing you post pre-COVID numbers for both regions. Best comparison would be April numbers for both EU and US. The US is around 20% now [1]. The US short-term unemployment numbers are way up, because the US didn't do enough to help small businesses weather the storm, so they laid off their workforce. In contrast the EU supported their businesses and workers and consequently people are taking leave instead of un…

If you meant "these days" as specifically in response to the COVID-19 crisis, we don't have basis for a useful comparison. As another commenter pointed out, the US is delivering economic relief primarily in the form of expanded unemployment coverage whereas Europe is taking a myriad of business support measures. Whether one is better than the other is not obvious yet it's effectively what unemployment numbers would reflect.