I-P-Whoa! Airbnb Takes Off

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 11 December 2020

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

Airbnb co-founder and CEO Brian Chesky sat down with Andrew Ross Sorkin ahead of the company’s landmark IPO. Public listings have been on a tear this year in the market’s epic recovery rally from the coronavirus-fueled rout in March. Airbnb, the company that allows users to book short-term rentals and experiences while traveling, jumped 112% during its first day as a public company yesterday. Chesky details how investors should think about regulatory risks, how the pandemic impacted the company and the possible “Roaring 20’s” to come. Steve Cakebread, who served as a CFO at Salesforce, Yext and Pandora when those companies went public, and Chip Conley, former Airbnb head of global hospitality and strategy, discuss what could be next for Airbnb and DoorDash after their big Wall Street debuts.

Transcript

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0:00.0	This is Squawk Pod. I'm C. NBC producer Katie Kramer. Today on our podcast.
0:06.2	AirB&B co-founder Brian Chesky on a landmark IPO.
0:10.3	We created a new category of travel and so therefore we're in a category of one.
0:15.0	The Home Rental Company's dramatic 2020 turnaround.
0:18.0	March happens and I feel like I'm you know the captain of a ship and all of a sudden a torpedo hit the side of the ship and then suddenly our business drops by 80% in eight weeks.
0:28.0	It's not typical to run a business, it drops by 80% eight weeks and you live to tell about it.
0:32.0	Airbnb debuted on Wall Street and the upstart is now worth more than several major
0:37.4	American hotel chains combined.
0:39.9	I want people, if we are successful many years from now to look back on this year as the defining year
0:46.8	where we did our very best to take care of all of our stakeholders no matter how hard the decisions
0:50.9	were and that we kind of persevere, we got through it.
0:54.8	Getting through it and maybe getting to the other side.
0:57.8	I think we often yearn something when it's taken away from us.
1:01.9	Travel for many is taken away from them right now.
1:04.5	Maybe something even deeper
1:05.8	that's taken away is the sense of connection.
1:08.3	It's Friday, December 11th, 2020,
1:11.0	Squack Pot begins right now. Today a change of plans. 2020's motto. A lot of
1:19.6	things have changed this year. How and where we work, how and where we live. I'm currently speaking
1:24.9	to you from my high-end studio, also known as my closet. Today we are highlighting one of the many companies
1:31.5	impacted in a surprising way by the coronavirus
1:34.2	Airbnb which allows users to book short-term rentals and experiences while traveling.
	...

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