*Airbnb 4 Hour Company Podcast Episode Just Released*
The Synopsis podcast released an in-depth company episode on Airbnb ($ABNB)
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This is a new company episode podcast announcement.
We are announcing the release of our latest company deep dive episode on Airbnb. At 3 hours and 44 minutes, it is our most in-depth episode yet! We now have in-depth company episodes on Axon, CoStar Group, Constellation Software, Floor & Decor, Meta, Copart, Evolution, Porsche AG, Coupang, Etsy, RH, and Dream Finders Homes! We research each company for hundreds of hours prior to recording, so we can confidently say these are the most comprehensive podcasts you will find on each of these companies!
Find it on Apple, Spotify, or wherever else you listen to your podcasts.
Company Background.
Having started as a means to pay rent, Airbnb quickly turned into one of the world's largest accommodations provider. In a matter of just a decade, Airbnb was able to host more guests than Hilton could in 100 years.
However, despite their large impact in how tens of millions of people traveled and millions more monetized their unused properties, they struggled for years to turn a profit.
That is until founder Brian Chesky decided to do something drastic and reshape the business—in the midst of Covid no less. In the matter of just a few years he took the business from losing $4bn a year to generating $3bn annually in free cash flow. With Airbnb having a firm grasp on the Alternative Accommodations segment, they are preparing to enter into new businesses and new verticals. Tune in for all of this and more!
Airbnb Show Notes.
In this Company episode of The Synopsis we draw on our 108-page research report on Airbnb; the company that pioneered the sharing economy and become a Silicon Valley poster child for what a succesful start-up can become!
We hope you enjoy!
(0:00) — Airbnb Intro
Section 1: Business History
(5:33) — From RISD to SF
(19:05) — Cereal Boxes, Y Combinator
(34:12) — Early Airbnb Experience, Competitors, International
(43:10) — First Disaster
(47:21) — Toshi Hotels, Regulation
(52:50) — Covid, Pulling the IPO
(1:01:50) — IPO
*~*~*
Section 2: Industry and TAM
(1:05:27) — Business, How do they Make Money?
(1:18:13) — Experiences
(1:22:31) — Margins and Cost Structure
(1:25:26) — TAM Discussion
(1:39:21) — Categories of Competition
*~*~*
Section 3: Competitors and Competitive Differentiation
(1:42:16) — Booking Competition
(1:52:21) — Merchant vs Agent Business Model, OTAs
(2:02:17) — Booking’s Alternative Accommodation Push, Booking vs Airbnb
(2:12:25) — Expedia, VRBO
(2:25:47) — Other Competitors
(2:30:47) — Comparing all Competitors, Network Effects, Differentiation
(2:45:26) — Competitive Advantages
(2:54:28) — Airbnb Negatives
*~*~*
Section 4: Other Bets, Capital Allocation, Valuation
(2:58:33) — New Services, Super App
(3:13:25) — ROIC and Free Cash Flow
(3:20:04) — Capital Allocation, Stock Awards
(3:27:44) — Growth Drivers
(3:35:42) — Valuation
(3:37:11) — Risks and Conclusion
Available on all podcast players today!
We also now have company episodes on Axon, Constellation Software, Perimeter Solutions, Floor & Decor, Meta, Copart, Evolution, Porsche AG, Coupang, Etsy, RH, Dream Finders Homes, and CoStar Group. Just look for the episodes with “Company.” at the begining of the title.
For more on Airbnb, you can purchase our extensive research report, or become a Speedwell Member to gain access to all of our content.
*At the time of this post, one or more contributors to this podcast has a position in Airbnb. Furthermore, accounts one or more contributors advise on may also have a position in Airbnb. This may change without notice.
Great episode!