Brian Chesky

This is from August 1st, 2008. By the way, so let me give the context of this email. So Joe Nate and I were trying to raise money. For everyone trying to raise money, I want you to know that Airbnb was trying to raise $150,000 at a $1.5 million, I think, post-money valuation.

This is from August 1st, 2008. By the way, so let me give the context of this email. So Joe Nate and I were trying to raise money. For everyone trying to raise money, I want you to know that Airbnb was trying to raise $150,000 at a $1.5 million, I think, post-money valuation.

Exactly. And here's one of many rejection letters. Hi, Brian. Apologies for the delayed response. We've had a chance to discuss internally and unfortunately don't think that it's right for fill-in-the-blank investment firm from an investment perspective. The potential market opportunity did not seem large enough for a required model. Now, I want you to just put this perspective.

Exactly. And here's one of many rejection letters. Hi, Brian. Apologies for the delayed response. We've had a chance to discuss internally and unfortunately don't think that it's right for fill-in-the-blank investment firm from an investment perspective. The potential market opportunity did not seem large enough for a required model. Now, I want you to just put this perspective.

Airbnb handles nearly as much money as the entire GDP of the country of Croatia today. One in about every $1,500 spent in the world, about $1 spent on Airbnb. That's a pretty large market. And our business is pretty much the same idea as the idea that we proposed that person who said our market opportunity wasn't large enough. So there's probably a myriad of lessons in that, aren't there?

Airbnb handles nearly as much money as the entire GDP of the country of Croatia today. One in about every $1,500 spent in the world, about $1 spent on Airbnb. That's a pretty large market. And our business is pretty much the same idea as the idea that we proposed that person who said our market opportunity wasn't large enough. So there's probably a myriad of lessons in that, aren't there?

And I think that It's a reminder that the world doesn't just change, or at least it doesn't just transform towards our dreams, ideals, and ambitions that require certain types of people. We might call them entrepreneurs, inventors, all sorts of people in different domains, that believe the world could be a little different than the one that they live in.

And I think that It's a reminder that the world doesn't just change, or at least it doesn't just transform towards our dreams, ideals, and ambitions that require certain types of people. We might call them entrepreneurs, inventors, all sorts of people in different domains, that believe the world could be a little different than the one that they live in.

They have the audacity to believe that they can do it. And they have the ability to convince other people to go on that journey with them. But along that journey, everything's going to be different. You're going to get lost. You're going to be cold. You're going to have like obstacles. Things are going to attack you. You're going to fall down pits.

They have the audacity to believe that they can do it. And they have the ability to convince other people to go on that journey with them. But along that journey, everything's going to be different. You're going to get lost. You're going to be cold. You're going to have like obstacles. Things are going to attack you. You're going to fall down pits.

And the question is when people are cold and they're shivering and they're not sure what to do and you're running out of resources and rations, can you find your way up that mountain? Do you know why you're going? Can you invent all these different apparatus? Like there's a stream you can't figure out. You can build a bridge to cross the stream with the limited resources you have.

And the question is when people are cold and they're shivering and they're not sure what to do and you're running out of resources and rations, can you find your way up that mountain? Do you know why you're going? Can you invent all these different apparatus? Like there's a stream you can't figure out. You can build a bridge to cross the stream with the limited resources you have.

Can you recruit people along the way? And can you beat the drum? And when people are tired and they say, I want to sleep, you say, yes, we're going to rest, but we got to go just 500 more steps. I know it's right over the edge. I think we can do a little bit better. And can you push people outside their comfort zone? Not enough to hate you, but enough to feel like a trainer.

Can you recruit people along the way? And can you beat the drum? And when people are tired and they say, I want to sleep, you say, yes, we're going to rest, but we got to go just 500 more steps. I know it's right over the edge. I think we can do a little bit better. And can you push people outside their comfort zone? Not enough to hate you, but enough to feel like a trainer.

You're like three more reps and you don't want to do it. And then that very moment, they're not your friend, but at the end of the workout, you're like – Thank you for pushing me that hard. This is that kind of person. And can you take divergent ideas that no one's ever seen before and just continue to reformulate them? Could you store these ideas in your head, a thousand competing ideas,

You're like three more reps and you don't want to do it. And then that very moment, they're not your friend, but at the end of the workout, you're like – Thank you for pushing me that hard. This is that kind of person. And can you take divergent ideas that no one's ever seen before and just continue to reformulate them? Could you store these ideas in your head, a thousand competing ideas,

and just reformulate them in your mind. It turns out this stuff is difficult, but you can work your way up there. Most people watching this have the skillset to be an entrepreneur. Not everyone has the skillset or the desire to run a giant company. I don't think everyone needs to do that, but a lot of people have the skill set to do something, to start something.

and just reformulate them in your mind. It turns out this stuff is difficult, but you can work your way up there. Most people watching this have the skillset to be an entrepreneur. Not everyone has the skillset or the desire to run a giant company. I don't think everyone needs to do that, but a lot of people have the skill set to do something, to start something.

This is what you need to get up the mountain. And the problem is, imagine we got up the mountain and then somebody was dropped from a helicopter, having never walked up the mountain, and you tell them, okay, now you lead this group up the next mountain. Can you imagine how hard it'd be for that person to drop from the sky?

This is what you need to get up the mountain. And the problem is, imagine we got up the mountain and then somebody was dropped from a helicopter, having never walked up the mountain, and you tell them, okay, now you lead this group up the next mountain. Can you imagine how hard it'd be for that person to drop from the sky?