Topic

ABNB

A collection of 42 issues

Airbnb 3Q’26: Back in Growth Mode, but Agents Still Worry Me

When I sold Airbnb at $170s to buy more Meta at $650s couple of months ago, I admit I felt a little smart after watching Airbnb stock tumbling down while Meta skyrocketing to the Muse hype.

Why Muse May Never Need Ads

It didn’t take too long for the app layer to start to respond to Muse. Amazon, of course, already blocked Muse.

A Portfolio Change

I know I promised an Uber Deep Dive this week, but I am pushing that to next Monday. In the meantime, I wanted to share some quick thoughts on a portfolio change I made today, which I'll discuss behind the paywall.

Meta’s Trojan Horse for the Consumer Internet

When I wrote my “first impression of Muse” piece last week, I promised that I would write a follow-up piece on how I am using it after a month. I may still do that, but after using Muse for the last five days, I feel compelled to share my updated thoughts right now.

Muse Implications for Consumer Internet

Since I have received several emails and messages from readers after publishing my first impression of Muse yesterday, I want to elaborate behind the paywall a bit more on how I think agents such as Muse can have an impact on some of the consumer internet companies.

Core Memory

Programming Note: As a reminder, every Sunday, I write pieces that are predominantly based on personal experiences which may or may not be loosely connected with investing.

Airbnb Model Update (2026)

The last time I shared my updated Airbnb model was October 2025. As the stock has gone up ~50% since then, investors need to re-underwrite the assumptions today.

Why I am going to utilize options more to manage my portfolio

Back in 2021, I once responded to someone on X (formerly twitter) why I didn’t want to engage in trading options. While that choice sounded “wise” to me, reality hit me in 2022.

Airbnb 2Q'26: Widening the Gap with Booking

Airbnb reported an acceleration in nights and seats (N&S) booked, adding 14 million (+10%) N&S YoY which was the highest since 3Q’23. More importantly, Airbnb guided low double digit N&S growth even for 3Q’26 which indicates a likely sustained acceleration in the business.

Airbnb’s Cost of Market Creation and Regulatory Survival

Airbnb is one of those rare marketplaces that derive supermajority of its demand organically and hence, they have the privilege of mostly not needing to pay Google et al for traffic.