Masters of Scale Rapid Response: Airbnb’s Brian Chesky: "Crisis is pushing us back to our roots"
Apr 13, 2020
Brian Chesky, the Co-founder and CEO of Airbnb, shares insights on navigating the pandemic's impact on travel. He likens the situation to being hit by a torpedo as Airbnb had to make swift, significant changes. Chesky discusses their innovative pivot to virtual experiences and a hefty fundraising round to support hosts. He emphasizes returning to Airbnb’s roots as a scrappy, adaptable startup focused on core values and fostering community connections. Hope and resilience shine through as he reflects on the future of travel.
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Pessimistic Planning
- In a crisis, be pessimistic and be wrong rather than optimistic and be wrong.
- Secure enough resources to weather a long storm.
Prioritizing Health
- Airbnb gave full refunds to guests during the pandemic, prioritizing health and safety over financial models.
- This resulted in significant income shortfalls for hosts who rely on Airbnb.
Employee Generosity
- Airbnb employees donated over $1 million in travel coupons to support hosts affected by the pandemic.
- Chesky and Gebbia, inspired, added $9 million to create a host relief fund, later increased to $17 million.