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☆ What is ‘founder mode?’ The meaning behind the latest Silicon Valley buzzword
▼ + stars: | 2024-09-11 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —The battle over “founder mode” versus “manager mode” is one of those manufactured dramas that only a small segment of the world cares about — like going to Davos or Cannes or the Vanity Fair Oscar Party. The idea is that a founder knows their company the way a parent knows their child. Graham doesn’t really define founder mode because every founder and every firm is different. I’ll offer another: Ray Dalio, the founder of Bridgewater, one of the world’s biggest hedge funds. The most successful “founder mode” guys (they’re almost all male, as far as I can tell) seemed to always have a trusted manager by their side.

Persons: CNN Business ’, Paul Graham, Graham, ” Graham, Brian Chesky, Chesky, Steve Jobs, It’s, Graham doesn’t, Jobs, Jeff Bezos, Elon Musk, Nvidia’s Jensen Huang, Ray Dalio, narc, Rob Copeland, ”, Rich Hagberg, Ashley Herd, Jessica Lessin, “, Tim Cook Organizations: CNN Business, New York CNN, Bridgewater, New York Times, LinkedIn Locations: New York, Davos, Cannes, Silicon Valley

☆ Travel isn’t dead. It’s just taking a vacation
▼ + stars: | 2024-08-19 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +5 min

New York CNN —CEOs of many of the biggest US hotel and travel companies are coming off a bit like doomsayers these days with their warnings about the declining health of consumers and their waning appetite for travel. Gary Hershorn/Getty ImagesMuch of the revenue growth that travel companies reported in recent years resulted from inflation, said David Tinsley, a senior economist at Bank of America Institute. “It was always going to be tough to expect travel spending to be showing the kind of momentum it showed 12 months ago,” he told CNN. “I don’t think the current situation is particularly bleak — it’s reasonable to see more normalization playing out,” he said, referring to travel spending getting back on par with pre-pandemic trends. Still, it’s not hard to see why this mixed picture is prompting travel companies to tread carefully.

Persons: —, ”, Brian Chesky, “ It’s, Ellie Mertz, Chris Nassetta, Airbnb’s Mertz, haven’t, Jan Freitag, ” Freitag, Walt Disney, Gary Hershorn, David Tinsley, Tinsley, “, Steve Hafner, it’s Organizations: New, New York CNN, Conference, Bank of America Institute, CNN Locations: New York, ”

☆ Customers didn’t stop spending. Companies stopped serving
▼ + stars: | 2024-08-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

It’s called a sector rotation, and it happens all the time as part of the natural course of a business cycle. The US economy is still pretty strong, growing at an annualized rate close to 3% in the most recent quarter. But it’s not as if Americans have stopped going to restaurants — they’re just being a bit more discerning when they do. Instead, they’re going to Texas Roadhouse, where they can sit down and have some service with their meal. Or they’re swinging through Chipotle, which saw sales shoot up 11% last quarter at stores open at least a year.

Persons: CNN Business ’, they’ve, that’s, it’s, they’re, ”, Mark Hoplamazian, Marriott’s, Disney, Hugh Johnston, — they’ve, Pete Werner, wouldn’t Organizations: CNN Business, New York CNN, Wall, Texas, Disney, CNN, Bloomberg Locations: New York, —, Texas

CNN —For years, Airbnb has known some of its hosts have used hidden cameras to secretly spy on guests, invading their most private and intimate moments. A CNN investigation found the use of hidden cameras is a persistent problem in the industry. The Airbnb representative testified that the company generated 35,000 customer support tickets about surveillance devices in the preceding decade. An Airbnb spokesperson told CNN that a single report could create multiple tickets. Airbnb makes “every effort” to support police investigations of hidden cameras, the company told CNN in a written statement.

Persons: Airbnb, ” Airbnb, “ I’ve, ”, Kim van Sparrentak, “ Organizations: CNN, European Union, EU Locations: United States

☆ Why the Fed is stressed about presidential elections
▼ + stars: | 2024-07-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —Federal Reserve Chair Jerome Powell sent investors mixed messages on Tuesday during his semiannual testimony to Congress. Powell is stressed about the election: Powell was asked by multiple senators about White House politics, which he dodged. While the Fed head noted that policy decisions are data dependent, “elevated inflation is not the only risk we face,” he said. The September Fed meeting will be “live”: Powell noted multiple times that every Fed policy decision is made “live” using the latest available economic data – in other words, decisions aren’t made in advance. About 75% of investors think the Fed will cut rates, and about 25% think they’ll remain the same.

Persons: Jerome Powell, Powell, “, Donald Trump, reappoint Powell, ”, Joseph Brusuelas, Trump, Gregory Daco, Chris Larkin, Morgan Stanley, Larkin, don’t, aren’t, David Rubenstein, he’ll, Airbnb, Isabelle Chapman, Majlie, Puy Kamp, Audrey Ash, Chris Isidore . Organizations: CNN Business, Bell, New York CNN — Federal, White, “, Reserve, RSM, Federal Reserve, US Consumer, Treasury, Fed, Economics, Washington DC, Jackson, CNN, Boeing, Alaska Airlines Locations: New York, Powell, Washington, Alaska

A CNN investigation found that Airbnb consistently fails to protect its guests despite knowing hidden cameras are a persistent concern within its industry. Video Ad Feedback A woman describes the moment she realized her Airbnb host had placed a hidden camera in her room. And, while hotels can be held legally responsible for guests harmed on their property, Airbnb frequently is not. In January, CNN began reaching out to former Airbnb employees to ask about hidden camera concerns within the industry. “Less than a month for every victim,” said Wyzynajtys, the guest who found Allee’s hidden camera.

Persons: Airbnb, ”, Brian Chesky, Chloe LeBrument, “, LeBrument, … it’s, Bianca Zuniga, Goldwater, “ I’ve, Comfort , Texas David Wyzynajtys, Airbnb’s, Wyzynajtys, ” Wyzynajtys, David Wyzynajtys, Austin Steele, CNN Wyzynajtys, Jay Allee, Allee, –, Vrbo, CNN Allee, Butch Matjeka, ” Matjeka, Kim van Sparrentak, Murray Cox, Cox, Shannon Schott, “ They’re, They’re, ” Schott, Jan Schakowsky, Kyung, ’ Allee, didn’t, Airbnb superhost Peter Madden, Madden, he’d, “ I’m, ” Madden, undressed, Patricia DiCarlo, Matt Lait, Logan Whiteside, Yahya Abou, Ghazala Organizations: CNN, Social, ” CNN, Hyatt Hotels Corporation, Marriott International, Ontario Airbnb, Police, Sheriff’s, European Union, EU, Communications, Facebook, Illinois, Democratic, Airbnb’s San, Attorney, Westbrook Police, Vrbo Locations: Texas, San Francisco, London , Ontario, Ontario, Comfort , Texas, Jay Allee Kendall, Allee’s, California, Kendall, Allee, United States, New York, York, Florida, Airbnb’s, Airbnb’s San Francisco, Chesky, Melbourne, Australia, Maine, Cumberland County

☆ Video: Inside CNN’s investigation of Airbnb’s hidden camera problem
▼ + stars: | 2024-07-09 | by ( John General | Audrey Ash | ) edition.cnn.com time to read: 1 min

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☆ Sam Altman says Airbnb’s CEO gave him countless hours of advice on growing OpenAI: He was ‘almost always right’
▼ + stars: | 2024-06-28 | by ( Alex Koller | ) www.cnbc.com time to read: +1 min

OpenAI CEO Sam Altman says he leaned heavily on advice from his friend Brian Chesky — CEO and co-founder of Airbnb — after ChatGPT became a global phenomenon. Here's where you're behind, here's what you're screwing up, here's what you got to proactively do, here's what you got to think about.'" Chesky was "almost always right," Altman added. The hours of guidance impacted key areas of OpenAI's business, according to Altman: Chesky instructed him on who to hire and how to "map" out the company's strategy. More recently, Chesky told him that he was "probably not thinking enough about" the political consequences of the company's generative AI technology, Altman added.

Persons: Sam Altman, Brian Chesky, Airbnb, ChatGPT, Altman, Chesky, Altman's, Brian Organizations: Aspen Ideas, Microsoft

☆ Outside advisers urging Biden team to focus on Trump – not first-term record
▼ + stars: | 2024-06-25 | by ( Kayla Tausche | ) edition.cnn.com time to read: +5 min

“He wants the credit, but it’s not working,” one top Democrat, who recently shared these concerns with the campaign, said of Biden. Biden and Trump square off in the first presidential debate at 9 p.m. As a result, the economy has become both the biggest priority for voters and their biggest frustration with the incumbent president. You want people to know you’re doing a really good job,” one major donor told CNN. “I think Biden can’t help but talk about what a good job he’s done.”CNN’s MJ Lee contributed to this report.

Persons: Joe Biden’s, Donald Trump, “, it’s, Biden, they’ve, Biden’s, Ron Klain, Klain, That’s, Racine , Wisconsin –, Trump, – Biden, “ We’ve, ” Biden, CNN’s Erin Burnett, Bidenomics ”, “ Donald Trump, Joe Biden, he’s, Snickers, CNN’s MJ Lee Organizations: Washington CNN, White, America, Trump, CNN, Federal Reserve, ABC, Biden, Biden White House Locations: Racine , Wisconsin

☆ Airbnb undermined team that removed extremist users, whistleblower claims
▼ + stars: | 2024-06-19 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

New York CNN —Airbnb has undermined users’ safety by scaling back its work to remove extremists from its platform, a former contractor alleged in a new whistleblower complaint. “Airbnb spent much of 2023 scaling back and undermining the work of its team tasked with removing individuals affiliated with dangerous and extremist organizations from the platform,” Whistleblower Aid, the organization representing Hernandez, said in a statement. Airbnb disputed Hernandez’s claims, saying that it continues to enforce against members of dangerous or extremist organizations. And in the following years, it pointed to that pledge when removing users associated with extremist organizations. Prior to her work at Airbnb, Hernandez worked as a researcher for the Terrorism Research and Analysis Consortium, an organization that tracks terrorist and hate groups, according to Whistleblower Aid.

Persons: New York CNN — Airbnb, Jess Hernandez, “ Airbnb, Hernandez, ” Hernandez, Airbnb, we’ve, ”, Brian Chesky, “, Lauren Southern Organizations: New, New York CNN, Capitol, US Securities and Exchange Commission, Federal Trade Commission, NBC, CNN, White, Washington DC, Fox News, Terrorism Research, Consortium Locations: New York, Charlottesville , Virginia, Airbnb

☆ Airbnb’s Icons allow you to drift off in the ‘Up’ house or rest in Prince’s ‘Purple Rain’ mansion
▼ + stars: | 2024-05-01 | by ( Lisa Respers France | ) edition.cnn.com time to read: +4 min

CNN —If you have ever wanted to dream in the balloon-lifted “Up” house, party with Kevin Hart or jam with Doja Cat, Airbnb has just the thing. With Icons, we’ve created the most extraordinary experiences on Earth.”Here are some of the entertainment-focused Icons announced so far:An actual photo of the Airbnb house recreated to look like the home in the Disney/Pixar movie "Up" -- both the interior and exterior. Ryan LowryDrift off in the “Up”house - “Sleep inside one of Disney and Pixar’s most iconic homes – and yes, it floats. You’ll enjoy an unforgettable living room performance from the Grammy-winning artist, including her favorite songs and tracks from her latest album.”"Purple Rain" House - AirBnb Icons Eric OgdenStay in Prince’s “Purple Rain” house - “Prince purchased the Minneapolis, Minnesota home featured in the legendary film ‘Purple Rain,’ but it’s never been available to the public until now. Explore the home and go crazy for rare and special tracks from Prince’s world in an exclusive studio session.

Persons: Kevin Hart, Airbnb, Brian Chesky, we’ve, Ryan Lowry, ”, You’ll, Kevin, Doja, Eric Ogden, “ Prince, it’s, Khaby, Holly Andres Step, Marvel, you’re, Joy, Janhvi Kapoor Organizations: CNN, Wednesday, Disney Locations: Abiquiu , New Mexico, Minneapolis , Minnesota, Milan, Italy, Westchester , New York, Paris

☆ Airbnb wants to help renters, and not just homeowners, share their space for cash
▼ + stars: | 2024-04-12 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +4 min

CNN —Airbnb wants more renters, and not just homeowners, to be able to become hosts on its short-term rental platform. New York City, for example, has argued that short-term rental platforms like Airbnb limit available housing supply, leading to overall higher rents, and that they can be disruptive to neighborhoods. “A lot of the early laws that were made limited short-term rental to homeownership,” Theo Yedinsky, the vice president of public policy at Airbnb, told CNN. These renters, however, will still have to get permission from their landlord to host on Airbnb (Airbnb has no involvement in individual lease agreements between property owners and tenants). And many major cities, including New York, are increasingly cracking down and heavily restricting the short-term rental market.

Persons: CNN — Airbnb, ” Theo Yedinsky, Yedinsky, Airbnb, couldn’t, “, ”, Brian Chesky, Joe Gebbia, Glenn Youngkin, ” Yedinsky, Rahul Bhaskar, Bhaskar, ” Bhaskar Organizations: CNN, Gov Locations: New York City, San Francisco, Virginia, New York, India

☆ Vacation Rentals: How to Shrink Your Carbon Footprint
▼ + stars: | 2024-03-26 | by ( Elaine Glusac | ) www.nytimes.com time to read: +1 min

Travelers choosing to stay in a vacation home instead of a hotel may have to spend more time searching for sustainable lodgings, but ultimately they will have more control over their environmental impact. The following are steps short-term renters can take to shrink their carbon footprint. Search for sustainable rentalsThe nonprofit Sustonica validates short-term rentals based on sustainability standards, including conserving water and minimizing waste. Instead, travelers will find its logo on certified listings on platforms like Airbnb and Booking.com. Booking.com, which lists vacation homes as well as hotels, allows travelers to search for listings with sustainability certifications from more than 65 organizations doing third-party reviews of practices ranging from renewable energy sourcing to recycling.

Organizations: Homes

☆ Airbnb bans the use of indoor security cameras
▼ + stars: | 2024-03-11 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +2 min

New York CNN —Airbnb is banning the use of indoor security cameras in listings globally, the short-term rental platform announced Monday. Indoor security cameras, however, were never allowed in spaces like sleeping areas and bathrooms. Hosts who do currently have indoor security cameras have until April 30 to remove them. Outdoor security cameras, such as doorbell cameras, will continue to be permitted in Airbnb. The use of indoor security cameras in Airbnb listings has long drawn frustration from travelers using the platform.

Persons: New York CNN —, “, Downs, NBC’s Organizations: New, New York CNN Locations: New York, Juniper Downs, Airbnb

NEW YORK (AP) — Airbnb on Tuesday donated a total of $10 million to more than 120 nonprofits in 44 countries on six continents, the short-term rental giant's latest outlays in its unusual distribution of $100 million through its Airbnb Community Fund. “Airbnb has a 21st century company view,” said Janaye Ingram, Airbnb’s director of community partner programs and engagement. By supporting nonprofits that its hosts find valuable, Airbnb can get more funding to groups that help keep their communities strong, Ingram said. The board solicited recommendations for nonprofits from the hundreds of Airbnb Host Club leaders around the world. However, the Airbnb Community Fund is operated separately from that.

Persons: — Airbnb, “ Airbnb, ”, Janaye Ingram, Ingram, Brian Chesky, “, ‘, ” Chesky, Nadia Giordani, George Floyd, ” Giordani, “ We’re, Airbnb, ” Airbnb’s Ingram Organizations: Fund, Japanese, Dog Resource, Atlanta Habitat, Humanity, Stanford University Graduate School of Business, Airbnb Host Club, Corporate Purpose, Community Fund, Lilly Endowment Inc, AP Locations: Digify Africa, ” San Francisco, Airbnb, New York City, Atlanta, Minneapolis

☆ Airbnb Appoints Ellie Mertz as New Chief Financial Officer
▼ + stars: | 2023-12-05 | by ( Walden Siew | ) www.wsj.com time to read: 1 min

Ellie Mertz has been with Airbnb for 11 years. Photo: AirbnbAirbnb on Tuesday appointed Ellie Mertz, an 11-year veteran of the short-term rental company, as its new chief financial officer. Mertz succeeds Dave Stephenson , Airbnb’s CFO since 2019, who was promoted to become the company’s chief business officer, a newly created role.

Persons: Ellie Mertz, Mertz, Dave Stephenson

The income Luis earns from his Airbnb rental is paid in dollars into a digital account on US payment platform Payoneer, he said. Argentine hosts on Airbnb can receive payments to a local or overseas bank account as well as Payoneer and Paypal, options on one host's account reviewed by Reuters showed and Airbnb confirmed. Airbnb told Reuters in a statement that guidance published on its website advised hosts to register their short-term rental properties with Argentine authorities. Argentine tax authority AFIP said that it "always encourages people to declare" income. The Buenos Aires tourism department told Reuters, however, that just 570 properties were listed on the city's register of short-term rentals in June.

Persons: Luis, Airbnb, Payoneer, AFIP, Ramiro Raposo, AIRBNB, Ariel Yeger, Gaston Levy, Gustavo, Ana Maria Ianni, Ianni, Anna, Catherine Brigida, Adam Jourdan, Suzanne Goldenberg Organizations: Reuters, Argentine, Paypal, Internal Revenue Service, PayPal, AirDNA, Airbnb, Peronist, Thomson Locations: BUENOS AIRES, Airbnb, Buenos Aires, Argentina, Argentine, United States, Senate's

City councils around the United States are increasingly introducing ordinances to regulate short-term rentals, which in some cases will require hosts to obtain licenses and pay registration fees or limit the number of short-term rentals in business districts. The short-term rental company is requesting that the court blocks the enforcement of "Local Law 18". Airbnb said that in the first week of July, more than 5,500 short-term rentals are reserved to host more than 10,000 guests in New York City. The company said in the filing a previous law which went into effect in 2021 prompted 29,000 hosts to leave the short-term rental market in New York. Airbnb’s annual net revenue in New York City in 2022 was $85 million, according to the filling.

Persons: Airbnb, Doyinsola Oladipo Organizations: Airbnb, New York, New, New York City Mayor's Office, Special Enforcement, Thomson Locations: New York City, City, United States, New York's, New York

☆ Airbnb has banned 30 listings where slaves lived or worked, but travelers and the company itself say the platform has other bias issues to address
▼ + stars: | 2022-12-23 | by ( Robert Davis | ) www.businessinsider.com time to read: +4 min

The move comes about four months after the company received backlash for listing an 1830s slave cabin in Mississippi. Some travelers and experts say the company still has work to do to reduce instances of bias and discrimination. But some say there are other bias issues on Airbnb’s platform that still need to be addressed. Airbnb defined its booking success rates as a measure of how often people from different perceived racial backgrounds can successfully reserve an Airbnb listing where the host must confirm the booking. The audit sampled 750,000 random reservation requests and found that Black travelers had a 91.4% booking success rate compared to 93.4% for Latinos and 94.1% for Whites.

☆ Airbnb has promise as the quasi-immobility firm
▼ + stars: | 2022-11-30 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, Nov 30 (Reuters Breakingviews) - Airbnb (ABNB.O) is a boon to mobile travelers - but soon might benefit from immobile, old-school renters too. But the deal, which secures buy-in from large housing managers that should otherwise hate Airbnb, makes sense in a post-pandemic era. The agreement paves the way for some of America’s largest landlords to list their empty abodes for traditional long-term leases on Airbnb. Still, Covid-19 has fundamentally changed people’s habits in a way that could benefit both Airbnb and the apartment rental firms – if they innovate. In the past, that has enabled apartment companies to hold their tenants hostage to an extra couple of months’ rent.

“There’s no such thing as a set forecast right now,” said Sophie Kelly, senior vice president of whiskies at Diageo North America, speaking at the same event. The firm, a unit of Interpublic Group of Cos.’ Mediabrands, cut its growth forecast for next year to 4.8% from an earlier prediction of 5.8% in June. Organic revenue growth is a metric that removes the effects of currency fluctuations, acquisitions and disposals. Airbnb Inc. slashed its advertising spending and invested in brand marketing, lessening its reliance on search-engine marketing. “We knew that people are changing their behavior,” said William White, Walmart’s chief marketing officer.

Airbnb users will soon be able to see the total cost of booking a stay before they check out, a reversal of the platform's longstanding policy that had peeved many users. Starting in December, guests will have the option to view the total price of a booking, including all fees, before taxes. Users will also be able to view a full price breakdown that shows Airbnb’s service fee, discounts, and taxes. The change means total price, instead of nightly price, will be prioritized in its search ranking algorithm. Guests are still charged an Airbnb service fee, a cleaning fee, an extra-guest fee if applicable, plus any taxes and deposits.

☆ Airbnb Details Road Map to Lower Cloud Costs
▼ + stars: | 2022-11-07 | by ( Belle Lin | ) www.wsj.com time to read: +4 min

PREVIEWMany companies that have shifted their enterprise-technology tools to the cloud in recent years are similarly seeking to reduce their cloud costs, especially in the market downturn. Corporate cloud spending will moderate from recent highs, analysts say, as companies seek more discipline in that spending. “That reduced a significant amount of our storage costs right off the bat,” Mr. Nagle said. Airbnb, one of Amazon’s largest cloud customers according to Amazon, also worked with the cloud provider to figure out what it was overpaying for. By putting its spending toward lower-cost cloud services it uses more often, Airbnb is allocating its cloud budget “in a smarter way,” Mr. Bala said.

☆ Airbnb Says Its Focus on Brand Marketing Instead of Search Is Working
▼ + stars: | 2022-11-03 | by ( Megan Graham | Ceo Brian Chesky | ) www.wsj.com time to read: +5 min

Airbnb Inc. said its strategy of slashing advertising spending, investing in brand marketing and lessening its reliance on search-engine marketing is continuing to pay off. Its marketing spending is now low enough that it doesn’t anticipate drastic reductions even if economic headwinds worsen next year, it said. It has also made deep cuts to its overall marketing spending. “Our brand marketing results are delivering excellent results overall with a strong rate of return, and it’s been so successful that we’re actually expanding to more countries,” he said. But the brand could be tested if its competitors ratchet up spending in a downturn, Mr. Zucker said.

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