Brian Chesky Living on Airbnb: Gimmick or Great Idea?
Airbnb (NASDAQ: ABNB) was a big comeback story in 2021, fully recovering from pandemic declines and gaining 13% in share price for the year. It's down 14% so far in 2022, but shares are still fairly expensive, trading at 98 times forward-one-year earnings.
How will things go in 2022? Probably pretty well. And just to prove it, or at least to prove that the company is committed to getting things right, Airbnb announced last week that CEO Brian Chesky will be "living on Airbnb." Can this move the needle on unlocking more value for the company and investors?
Airbnb has been the ultimate travel industry disruptor. Its model, which features a platform connecting hosts and travelers, seems simple enough. But it's completely different than the centuries-old hotel and resort model that dominates the industry. What's more, it's what I'll call universally disruptive, which means it's able to continuously change. That's why even though its first gig was offering a mattress on the floor of an apartment, it's now moved past offering vacation rentals to providing long-term stays.
Source Fool.com
