01:43:38 · Jordi Hays, John Coogan, Brian Chesky, Feross Aboukhadijeh
[01:43:38] S1: Chad is saying [01:43:39] S0: Overdesigned. Overdesigned. We'll see. Herman Miller Herman Miller has a whole gaming division, I suppose. Anyway, you gotta remember this is from Will DePue. You gotta remember that there's some guy out there who's the Michael Jordan of steel processing. He's on a generational run right now. Everyone sees their niche as the center of the world. So many greats you'll never hear of. The Michael Jordan of steel processing, we gotta find him, dig him up, get him on the show. We've had the Michael Jordan of acquiring rare parcels of land in Montana on the show. [01:44:10] S1: We gotta have him back. We should He's gotta be pretty excited for this upcoming round of IPO. [01:44:16] S0: Data center build outs? [01:44:17] S1: A lot of [01:44:17] S0: I don't know. [01:44:19] S1: Anyway Lot of those IPO. [01:44:20] S0: We can come back to the land the land strategies because we have our next guest here Brian Chesky from Airbnb back on the show. Only a few weeks since we talked to you last. Welcome back. Thank you so much for taking the time. How are you doing? [01:44:33] S8: Hey guys. How are doing? Great to see [01:44:35] S1: you. We're not in I'd be better if we were in a blimp [01:44:37] S7: right now. [01:44:37] S0: It'd be better if we were in a blimp, but Coming soon. Show closer to hanging out on a blimp together. Give us the update. What's going on in Airbnb world?
01:44:37 · John Coogan, Brian Chesky, Steve Wozniak
[01:44:37] S0: It'd be better if we were in a blimp, but Coming soon. Show closer to hanging out on a blimp together. Give us the update. What's going on in Airbnb world? [01:44:46] S8: So we announced a few things. The first thing we announced is a whole bunch of new services Mhmm. Probably starting with grocery delivery. A lot of people love that Airbnb's have kitchens. So now when you book an Airbnb, you can have groceries waiting for you in your Airbnb. [01:44:58] S0: Oh, that's great. [01:44:59] S8: A number of people tell us that if you go to Rome, it's hard to get an Uber. So now there's gonna be someone that can welcome you at the airport and pick you up and take you to Airbnb. We also announced finally car rentals. Oh. A long time coming. And so now you can get a car rental on Airbnb. Right. And we also announced that we have now boutique and independent hotels. If you book a boutique or independent hotel, we are creating a price match guarantee. [01:45:22] S9: Mhmm. [01:45:22] S0: So if you [01:45:23] S8: see a lower price anywhere else, we will give you the difference back in Airbnb credit, and we'll give you another 15% towards the next booking of anything on Airbnb. Mhmm. So those are just a few of the things that we announced. Really, the basic idea is just continue to listen to customers, continue to listen to our guests, listen to our hosts, and just keep them expanding and perfecting the service, and trying to make Airbnb a bit of an ecosystem Yeah. Of other developers and other apps.
01:45:23 · Brian Chesky, John Coogan, S2
[01:45:23] S8: see a lower price anywhere else, we will give you the difference back in Airbnb credit, and we'll give you another 15% towards the next booking of anything on Airbnb. Mhmm. So those are just a few of the things that we announced. Really, the basic idea is just continue to listen to customers, continue to listen to our guests, listen to our hosts, and just keep them expanding and perfecting the service, and trying to make Airbnb a bit of an ecosystem Yeah. Of other developers and other apps. [01:45:46] S0: Yeah. This feels like the fruition coming to reality of, like, a lot of the pitch that you gave last year. What was involved in actually getting to this point? How much of this is predicated on new software development, new product initiatives versus partnerships with existing areas? Like a lot of these feel like they touch the real world. So it's not just an extra line of code or an extra panel or button in the app. [01:46:13] S8: Yeah. I mean, it's a good question, guys. The app that most people see is maybe something like 20% of Airbnb. There's also a host app. But again, most of the work about Airbnb is what happens in the real world. [01:46:25] S2: Mhmm.
01:46:25 · S2, Brian Chesky, John Coogan
[01:46:25] S2: Mhmm. [01:46:25] S8: And I think I said last time that we spend a lot of time imagine like you're living in a one story house and then suddenly a bunch of people want to move into your house and you have to add like a second, third, fourth floor. Yeah. But you didn't build the foundation for a four story building. And so what we had to do over the last few years was kind of rebuild the foundation. It really was only built for homes. It was not built to do other things. Amazon had this problem in the late nineties. They were built on ISBNs for books. And they had to basically take their website and turn it into a bunch of primitives. So we basically already done that work. To give you an example, it took us sixteen years to finally expand beyond homes. It took us two years to develop service experiences. It took us eight months to develop groceries, and it took us only two months to develop luggage storage, airport pickups, and car rentals. So basically, looking at the time to launch from conception to launch, we can now have an idea and put it into a market sometimes within like a couple weeks to a month. And what that should mean is instead of announcing one or two things a year, eventually we can announce dozens of things a year. [01:47:24] S0: Yeah. I
01:47:24 · John Coogan, Jordi Hays
[01:47:24] S0: Yeah. I [01:47:25] S1: Sorry. Cars. Why obviously, a hard thing to do, but I'm sure people have been asking this to for for, you know, a decade now. Yeah. Why did you choose at some point not to maybe listen to your customers? Why are you why are you making those why was, like, why was now the right time? Because it just feels like such such a, you know, such an obvious thing. I'm booking a trip somewhere, you know, give me one click to to add a car. Obviously, there's more that needs to happen on the back end, but why?
01:47:56 · Brian Chesky
[01:47:56] S8: Yeah. Another great question. And I asked myself that, like, why didn't we do certain things sooner? And if I could, I would have. You know, I remember that one of my early investors said starting a company is like jumping off a cliff and assembling the airplane on the way down. Never realized when I started a company that never realized I thought if you hire thousands of people, suddenly you have all these extra people to do all these extra things. Yeah. But when you're when we are in hyper growth, we basically just had most of the people just trying to keep the lights on. And we really struggled in the 2,000 during our hottest moment to really expand beyond our core business. We tried in 2012, didn't really work. Tried in 2016, didn't really work. We finally thought we cracked it in 2019. And then suddenly the pandemic hit. We lost 80% of our business in eight weeks. We said, oh, man. We don't have time to do this right now. We got to go back to our core business. So we've kind of had three different starts. And we tried it before, we just never really were able to stick the landing. I think this time we finally can. So yeah, people have been asking for us for more than a decade, in fact, fifteen years. 2011, we began thinking about it. And now, I hope I'm happy to say that, hopefully, going forward, we won't have to wait fifteen years for another service. So we'll be they'll be coming really fast now.