It seems almost incomprehensible that a simple impromptu idea fashioned just ten years ago, has grown into a company that is now estimated at being worth US$31 billion or a higher valuation than Expedia, Hilton or American Airlines.
From the conception days of buying three air mattresses to place on the floor in a loft room to help offset their rental property in San Francisco, the three founders, Brian Chesky, Joe Gebbia and Nathan Clecharczyk are now holding shares, which individually the pundits estimate are presently worth US$3.7 billion.
The company of course is Airbnb.
Despite these staggering figures Airbnb earned ‘just’ US$100 million last year from US$2.6 billion in revenues or a return of around 4 per cent. According to Forbes its larger publicly traded competitors have margins of about 27 per cent.
The concept is a really simple one, connecting people who have vacant homes and apartments with…
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AMERIKA Today – By Peter… The Art Teacher – commentary
Great description of the USA political and economic arena as it is today…..
For me it is a spectator sport like watching a continuous soccer game. I don’t take too many definite opinions because I have read enough to know that every news media is biased. The complicating problem for the last decade at least is the false information that is put out, both published in news media, on the internet, and through social media. It is very hard to decipher what is actually the truth any more.
Overall, and very slowly, America is on the way down as the world’s reserve currency. Unless someone in America can do something about this reality Americans and likely Canadians as well are in for a comparatively hard time. Continue reading →
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