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Masters of Scale

Airbnb's Brian Chesky: "We died and were reborn." A special Rapid Response

Masters of Scale

WaitWhat

Startups, Business, Mindset, Management, Bob Safian, Entrepreneurship, Diversity & Inclusion, Reid Hoffman, Jeff Berman

4.64.4K Ratings

🗓️ 16 March 2021

⏱️ 47 minutes

🧾️ Download transcript

Summary

Headlines last April predicted death for Airbnb. How could it survive a pandemic that stopped their core business cold? As the business cratered (in 8 weeks, they lost 80% of revenue), CEO Brian Chesky realized: It was a moment to step back, rethink and do more than anyone expected. So after putting a planned IPO on hold, he and his team started planning Airbnb's "illogical rebound." In this special Rapid Response interview with Bob Safian, Brian shares candid, never-before-heard stories about the advice he got from Barack Obama, and about the eye-popping December 2020 IPO at a valuation that left even him speechless. He speaks truthfully about the uncertainty, the anxiety, and the loneliness entrepreneurs are feeling as they fight for the future of their teams, their companies, and their vision.

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Transcript

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0:00.0

The year this gun buy has been one of the most defining years of my life.

0:06.0

In eight weeks we lost 80% of our revenue.

0:09.0

It's like a car going 80 miles an hour and slamming on the brakes.

0:12.0

There's no way that ends well.

0:15.0

The press articles, the headlines of Airbnb last April,

0:19.0

involved will Airbnb exist?

0:22.0

Is this the end of Airbnb?

0:24.0

These were headlines.

0:26.0

I always felt like a crisis is an opportunity to do

0:29.0

less than its expected of you, what is expected of you, or more than its expected of you.

0:35.0

And the problem with most people managing crisis is they usually make one of two choices

0:39.0

to do less than expected or as much as expected.

0:42.0

And those are almost always the wrong answers, almost always a crisis is a stage,

0:47.0

is a spotlight.

0:48.0

It's your moment to demonstrate your values and it's easy to demonstrate your values

0:52.0

in our culture and good times.

0:54.0

The culture is what you do in the darkest of days.

1:01.0

That's Brian Cheskey, CEO of Airbnb.

1:05.0

Last spring, Brian came onto this podcast as his business was cratering,

1:10.0

offering a raw in the trenches view of the pandemic's early devastation.

1:15.0

I'm Bob Safian, former editor of Fast Company, founder of the Flux Group

1:20.0

and host of Master's of Scale Rapid Response.

...

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