Airbnb

“What a company like Airbnb, for example, did was it took that trust, which is very hard to build and develop and companies would spend, you know, hundreds of billions of dollars and lots of time on building brands. They basically digitized trust to being this …”

“Had I invested 250,000 dollars in Airbnb at the time, it'd now be worth a billion dollars.”

“So it's basically Some work that you did to discover something that most people would think is non-intuitive.”

“And I looked at all the companies that we had passed on that we should have invested in, Airbnb, Pinterest who else, PagerDuty, Anaplan.”

“Like Airbnb, if it's being built today, could be built on Bubble, Webflow, one of these tools, Squarespace, Zapier, Slack, Airtable. You could glue all this stuff together and do it without a developer and probably get to 10 to a hundred million in revenue wit…”

“There was a fight to win Europe, and a competitor called Windu that copied the Airbnb website pixel by pixel.”

“We have three billion dollars of capital on the balance sheet at Airbnb, but we have three billion dollars or four billion dollars of customer deposits.”

“We're going to raise money, and we're going to do it in a way that doesn't burden previous investors. So we're not going to raise money at a low valuation. We're going to raise debt.”

“Maybe in the early days of Airbnb, I think people forget it was much more of a listing service, and it was less of a marketplace, and if you sort of take the definition of a marketplace, you have to complete the transaction, and you just not only have to compl…”

“You have a business that went from a business that was growing 2030, 40% a year to a business that declines and you lose 80% of your revenue.”

“I invested in Airbnb when it was probably around eight people. Stripe was probably around the same size. And then Coinbase only got involved with much later when it was a billion dollar plus company.”