Airbnb

“At the company's expense, they refunded something like two hundred fifty million dollars to the, to users who had canceled reservations, but they gave the money to the host to keep them afloat.”

“They laid off 25% of the company in July. 1900 of 7500 employees. They cut their marketing budget by eight hundred million, and then they IPO five months later, ah, and they had raised a billion dollars at an eighteen billion dollar valuation, according to Pit…”

“Silver Lake swooped into Airbnb in April, gave him a 12% debt deal for a billion dollars, and they got warrants that, the warrants today, Are worth about 1.4 billion dollars. And this debt is probably worth three times what they put in. So in like five months,…”

“It's like a 40, it's like a 40 X or something like that.”

“When they had a whole ton of cancellations because of COVID, they ate all those deposits. They made good on that.”

“They put in debt, and then they got warrants, and the warrants ended up making them, like, I mean, Silver Lake. Forex, it's insane. They made, like, three, four billion dollars.”

“Airbnb at a billion, obviously, I actually did invest, I agreed to invest, but then I got into a huge public snafu with Chesky, because he was taking a bunch of money off the table, and then we ended up not even finalizing the investment.”

“Over the past two years, they've had DoorDash, Airbnb, Snowflake, Unity, all these incredible companies worth over three hundred billion dollars combined.”

“When that free money gets taken away, I'm not sure that you're renting castles to spend a week here and a week there.”

“Now, I think of all the three businesses, Dash probably has the biggest upside, quite just like, again, Parm's length. I don't own any of these three stocks. I'm just saying business model quality, Dash seems infinitely scalable.”

“I'm going to go with consumer comfort services. I think as austerity measures and this, whether we have a soft landing or a recession, it's clear the consumers have spent all their money. So they're going to go for small luxuries like DoorDash, Airbnb, Uber, s…”

“But if we're in a recession, that company will be under pressure in a way that has nothing to do with the internal product quality that they exhibit.”

“If you look at Google, Uber, Airbnb, and Facebook Meta, They have the same number or less employees than they did three years ago, but they're all growing in that 20 to 30% a year, which means in but two to three years, each of those companies has doubled reve…”