Topic

ABNB

A collection of 21 issues

Airbnb Model Update

I first published my Deep Dive on Airbnb three years ago. The stock has been largely flat since then whereas its closest peer Booking’s stock price tripled during the same time. Now that I have started buying Airbnb stock this year, I thought about updating the model and then

Airbnb's Evolution

How does Airbnb make money? Let’s go through an illustrative example first assuming an individual host lists their home at $100 per night. If a host lists their home at $100/night, Airbnb charges the host ~$3 to cover the payment processing costs; hence, the host receives $97 for

My Experience on Airbnb Experience

A few months ago, Airbnb has made a big splash about re-launching “Airbnb Experience”. While I stayed at 17 different Airbnb homes over the last 7 years, I have never booked an Airbnb Experience before. So a few days ago, I went to the Airbnb app and looked for experiences

How people use ChatGPT and its implications, Portfolio Change

There was a lot of chatter about an NBER working paper “How People Use ChatGPT” yesterday. Unlike most survey work or academic paper looking into this question, what differentiates this paper is it is written by people at OpenAI. As you can imagine, there is a treasure trove of interesting

Airbnb's untapped monetization lever(s)

Brian Chesky had an interesting session at GS Communicopia last week which made me think Airbnb has quite a few untapped levers of monetization. While it’s unlikely that they will tap all these levers anytime soon, I think it’s worth thinking through these potential monetization pathways which can

Airbnb's unique demand driver

Traditional travel accommodation is still quite search driven. You go to Google or an OTA website/app and insert some details from the dropdown menu (destination, travel dates, number of guests, budget etc.) to pick your accommodation. But ever since going public, Brian Chesky has been highlighting that they would

Digital Advertising Snapshot, Corpay 2Q'25, Portfolio Change

Digital Advertising Snapshot As is the tradition in every earnings season, I am sharing my digital advertising Snapshot after 2Q’25 earnings. Three key takeaways: 1. For the nine consecutive quarters, Meta has outpaced Google in terms of incremental share. If Meta’s guide is any indication, that will almost

Airbnb 2Q'25 Update

Airbnb had a decent quarter. While nights booked decelerated to 7%, both Gross Booking Value (GBV) and revenue increased by double digit rate. Q2 started with a lot of economic uncertainty from tariffs but demand on Airbnb accelerated from April to July. However, the company cited impending hard comps for

MBI Daily Dose (July 06, 2025)

Companies or topics mentioned in today's Daily Dose: Inflection Point for AI adoption in enterprise, Airbnb and host experience I listened to this AlphaSense interview of Head of Generative AI Strategy at Cerebras (free trial link here). The expert forecasts that within the next 6–12 months enterprises

MBI Daily Dose (July 05, 2025)

Companies or topics mentioned in today's Daily Dose: Student loan, Progress in AI, AGI implications for rise and fall of nations, Traveling Apollo published a presentation titled “The pause on reporting delinquent federal student loans to credit rating bureaus has ended: Implications for consumer spending”. This is, unfortunately,