1161 - Airbnb CEO Says Platform is Fundamentally Broken—His Solutions Might Scare Investors by Moriah Costa
BiggerPockets Daily
English - December 19, 2023 07:00 - 8 minutes - ★★★★★ - 284 ratingsInvesting Business Entrepreneurship real estate success financial freedom financial independence wealth wholesaling money landlord realestate real estate investing Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Airbnb CEO Brian Chesky has admitted that the short-term rental company is in over its head and needs “to get our house in order.” The company scaled very fast, very quickly, and did not build up its systems to match, he said.
“To use a precise metaphor, it’s kind of like we never fully built the foundation. Like, we had a house, and it had four pillars when we needed to have 10,” Chesky told Bloomberg.
The platform recently rolled out several new features to patch up the cracks in its foundation, but will it be enough to keep the short-term rental site going? Or is it a signal of bigger changes to come for the industry that could trickle down to real estate investors?
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Airbnb CEO Brian Chesky has admitted that the short-term rental company is in over its head and needs “to get our house in order.” The company scaled very fast, very quickly, and did not build up its systems to match, he said.
“To use a precise metaphor, it’s kind of like we never fully built the foundation. Like, we had a house, and it had four pillars when we needed to have 10,” Chesky told Bloomberg.
The platform recently rolled out several new features to patch up the cracks in its foundation, but will it be enough to keep the short-term rental site going? Or is it a signal of bigger changes to come for the industry that could trickle down to real estate investors?
Learn more about your ad choices. Visit megaphone.fm/adchoices