Airbnb Leaders or experts in tech - I understand everything is business but please explain why there was a layoff in recent past during pandemic if company valuation was supposed to be in billions.
What exactly was the thought process?
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Always remember that companies optimize for shareholder value first. Company mission, goals and employees come after that. When all these align, lifeโs good for all. When thereโs any misalignment, every goal will change except the first goal.
Chesky learning about the valuation, mentions it would be at $30 a share due debt financing. Their debt financing is actually quite bad (very high interest rate).
Even if not, that gives them a good excuse to do a cleanup of the workforce.