Brian Chesky

Yeah, I mean, basically, maybe to mildly oversimplify one of the entire trends that we're doing on Airbnb, we are basically managing more of the inventory and verifying more of the users at the simplest level. So if you think about, it's really important to understand the history of where Airbnb came from. The context of starting Airbnb was eBay and Craigslist.

Yeah, I mean, basically, maybe to mildly oversimplify one of the entire trends that we're doing on Airbnb, we are basically managing more of the inventory and verifying more of the users at the simplest level. So if you think about, it's really important to understand the history of where Airbnb came from. The context of starting Airbnb was eBay and Craigslist.

In fact, I think people should recall that I think when I started Airbnb with my two friends, eBay's market cap might even been higher than Amazon. It wasn't obvious Amazon was going to be the winner. It kind of really pulled away. But eBay was the marketplace. And Craigslist was how most people found housing. It was completely the Wild West. I mean, it pretty much still is today.

In fact, I think people should recall that I think when I started Airbnb with my two friends, eBay's market cap might even been higher than Amazon. It wasn't obvious Amazon was going to be the winner. It kind of really pulled away. But eBay was the marketplace. And Craigslist was how most people found housing. It was completely the Wild West. I mean, it pretty much still is today.

In fact, I think people should recall that I think when I started Airbnb with my two friends, eBay's market cap might even been higher than Amazon. It wasn't obvious Amazon was going to be the winner. It kind of really pulled away. But eBay was the marketplace. And Craigslist was how most people found housing. It was completely the Wild West. I mean, it pretty much still is today.

There was really no management of inventory. And we thought... The internet is like an immune system. And what you should do is give community tools to moderate themselves. So flags, report suspicious behavior, but most importantly, a review system. And we built this really powerful review system where about two out of three people, after they book an Airbnb, leave a review.

There was really no management of inventory. And we thought... The internet is like an immune system. And what you should do is give community tools to moderate themselves. So flags, report suspicious behavior, but most importantly, a review system. And we built this really powerful review system where about two out of three people, after they book an Airbnb, leave a review.

There was really no management of inventory. And we thought... The internet is like an immune system. And what you should do is give community tools to moderate themselves. So flags, report suspicious behavior, but most importantly, a review system. And we built this really powerful review system where about two out of three people, after they book an Airbnb, leave a review.

And two out of three hosts leave a review. And we thought, oh, this is great. And... it turns out that that is necessary but not sufficient. And so over time, we've been in the business of managing more and more of the quality ourselves. So we're very, very hands-on on quality control. Most new services, we're actually vetting and even certifying ourselves.

And two out of three hosts leave a review. And we thought, oh, this is great. And... it turns out that that is necessary but not sufficient. And so over time, we've been in the business of managing more and more of the quality ourselves. So we're very, very hands-on on quality control. Most new services, we're actually vetting and even certifying ourselves.

And two out of three hosts leave a review. And we thought, oh, this is great. And... it turns out that that is necessary but not sufficient. And so over time, we've been in the business of managing more and more of the quality ourselves. So we're very, very hands-on on quality control. Most new services, we're actually vetting and even certifying ourselves.

And so we think reviews are important, but we don't want to put the entire burden on the user base. And again, there's a lot of ways to game things. So you've got to be very, very hands-on. But the more things you verify... The more things you inspect, the more things you certify, the fewer areas to exploit a company there is.

And so we think reviews are important, but we don't want to put the entire burden on the user base. And again, there's a lot of ways to game things. So you've got to be very, very hands-on. But the more things you verify... The more things you inspect, the more things you certify, the fewer areas to exploit a company there is.

And so we think reviews are important, but we don't want to put the entire burden on the user base. And again, there's a lot of ways to game things. So you've got to be very, very hands-on. But the more things you verify... The more things you inspect, the more things you certify, the fewer areas to exploit a company there is.

I have a theory that I'll share. In our business, it's obvious what the customer wants. The customer wants more moderation. They just do. I never heard a customer say like, you are controlling the inventory too much. You are removing too many bad listings. You are penalizing hosts that are making me unhappy. they actually call and say the opposite. Like, how dare you?

I have a theory that I'll share. In our business, it's obvious what the customer wants. The customer wants more moderation. They just do. I never heard a customer say like, you are controlling the inventory too much. You are removing too many bad listings. You are penalizing hosts that are making me unhappy. they actually call and say the opposite. Like, how dare you?

I have a theory that I'll share. In our business, it's obvious what the customer wants. The customer wants more moderation. They just do. I never heard a customer say like, you are controlling the inventory too much. You are removing too many bad listings. You are penalizing hosts that are making me unhappy. they actually call and say the opposite. Like, how dare you?

They get very upset and personal when a home doesn't work out, even if it's not our home. We're just the platform. So we are consistently held responsible by the customer for the content on our platform. And so the customer is expecting this, number one. Number two, the economic incentives are very, very clear.

They get very upset and personal when a home doesn't work out, even if it's not our home. We're just the platform. So we are consistently held responsible by the customer for the content on our platform. And so the customer is expecting this, number one. Number two, the economic incentives are very, very clear.

They get very upset and personal when a home doesn't work out, even if it's not our home. We're just the platform. So we are consistently held responsible by the customer for the content on our platform. And so the customer is expecting this, number one. Number two, the economic incentives are very, very clear.