I guess those 400K TC are now 300K?
Cut 2/3 of staff and maybe it has a chance
Airbnb is just infected due to coronavirus. It’s still young, will probably recover.
too young to die but it happens, A LOT
Good riddance
Why the hate? Hotels suck.
Residential hotels suck even more
They foolishly didn't rush the IPO to bagholders like Uber and WeWork tried to do. Now we are in down cycle, Marriott stock over 50% down, tourism revenue -90%. Frankly their CFO should be fired and sued for gross negligence
Sheesh that's an oppressive interest rate
That's the going rate for junk bonds. Compare to Carnival Cruise and other loans given out in this time period. Interest rate reflects risk. https://www.fool.com/investing/2020/04/01/carnival-boosts-its-bond-offering-after-a-red-hot.aspx
Why wouldn’t they fire everyone except for one person for the next 18 months?
Because no customer would trust them, no employee would ever work for them, no investor would ever invest in them, etc, you got the gist.
Why would a customer care? There aren’t any customers for the foreseeable future. Why would an investor be against someone reducing losses? What the hell would an employee be doing right now with zero transactions?
As much as Uber's IPO is the laughing stock, our timing is impeccable.
Are you holding your rsu?
They waited too long to IPO. Uber and Lyft wanted to get out before the next recession. Airbnb got stuck holding a big bag.
Sounds like the RSU holders got massively diluted.