No profit no revenue. The engineers are young and some of the experienced ones don't recognize the possibility of a layoff because they think they are the best of the best. Airbnb has about 1 more year before anyone starts using it widely. Just need to sustain for a year.
Not sure where the idea of our engineers being young originates. Kind of weird. So many engineers in my org have babies
Yes so late 20s, early 30s? max mid 30s? Many were probably studying BS/MS when the last recession hit? They haven't gone through mass layoffs of 08 is my point so they think layoffs won't happen at Airbnb.
The problem is, the Airbnb hosts have been hit hard. It exposed the platform and since its a single revenue source company it shows that hosts can no longer depend on Airbnb for a family income. This will mean that more people are going to be very cautious with future Airbnb investments.
They will be cautious but it is not like there are a lot of alternatives out there that will give you a better output.
Not really. There was other ways to make money. Think about it, no one is using an Airbnb in an economic downturn. The cleaning costs and other expenses really kill the intensive. Also many of these Airbnbs were bought with borrowed money (banks, family, friends etc) and that will ensure that when these hit the market now to be sold because the owner is solvent, they won't be able to pay back.
If you join now and you get a lot of RSU based in current low valuation, it might be worth the risk. They will survive this and if you survive with them, it will be worthwhile
The valuation is still 31 billion. They haven't faced a down round just yet.
Not sure if they have a lot of cash reserved. If not, they will need to a fund raising to survive then you will have the current valuation.
Hahahahahaha
Still an amazing product tho. Nice experiences and good for exploring. Just not the environment for it rn. But your bank is full so it should help, hopefully.
How many engineers do you have in total?
Would be interesting if Airbnb does lay offs with 're hire' gaurantees in 6 months.
Any company did it before?
Nope but these are extraordinary circumstances and this isn't a financial crisis but a health crisis. New problems call for new solutions. The company's business isn't flawed. Also this will be the blue print for future health crisis.
Op, what did you hear?
I think OP is referring to recent chatter on internal Airbnb channels about impending layoffs.
Lime valuation slashed by 80%. Just in case you were wondering what will happen to unprofitable businesses.
I wouldn't say Lime was profitable before all this started.
Also, Lime is allowed to operate in SF right now AFAIK but since no one is using them they took the bikes away.
The scooters are off the streets. Lime not operating.
Yes the scooters are off the streets because Lime took them away
Probably planning steps; Lock down source and infra to handle disgruntlement. How to execute a large lay-off. How much time can salary cuts buy them. Who will take severance vs cuts.
They chilling
lmao