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Airbnb CEO Addresses Company Challenges.
In 2023, Airbnb is facing some big problems. The boss, Brian Chesky, talked about these problems in an interview.
Chesky talked about how customers want different things. Some want cheap places to stay, while others want to make more money by renting out their places. He said this happened because Airbnb grew very quickly without building a strong base first.
He said it's like they built a house with only four pillars when they needed ten.
Chesky said they need to fix this before they can do new and exciting things. He wants to make sure the listings are good, the customer service is great, and the prices are reasonable.
What You Need to Know:
Chesky started Airbnb in 2008. He talked about how Airbnb has had problems with being consistent and reliable.
This happened because Airbnb grew too fast, but they didn't make their foundation stronger.
Chesky said it's important for hosts to set the right prices, especially in places with lots of hotels.
Airbnb is also using AI to check if listings are real. It looks at pictures and compares them with other information to see if they're real or fake.
Background:
A while ago, Airbnb had problems when hosts on Twitter said they were making less money and were worried about short-term rentals.
Airbnb was also slower than another company, Vrbo, at making a loyalty program. This made customers unhappy.
In New York City, there are now strict rules for short-term rentals, which hurt Airbnb's business.
Also, because of COVID-19, more people started working from home. This changed how people used Airbnb.
In September, Chesky had to deal with guests who wanted lower prices and better places to stay, while hosts worried about not getting enough bookings and not making enough money.