Brian Chesky

I think that what we're going to probably have in the future are more standardized quality tiers. And so there's going to be a standard to list on Airbnb. And then there's probably going to be like maybe, depending upon the vertical, different levels of certification or quality. And the quality could be based on their expertise in the real world.

I think that what we're going to probably have in the future are more standardized quality tiers. And so there's going to be a standard to list on Airbnb. And then there's probably going to be like maybe, depending upon the vertical, different levels of certification or quality. And the quality could be based on their expertise in the real world.

I think that what we're going to probably have in the future are more standardized quality tiers. And so there's going to be a standard to list on Airbnb. And then there's probably going to be like maybe, depending upon the vertical, different levels of certification or quality. And the quality could be based on their expertise in the real world.

Or it could be based on what customers are saying in Airbnb. For example, we have this tag, this designation called Guest Favorite. It's 2 million of the best homes in Airbnb based on ratings, reviews, and customer service tickets. So I think we're going to do more and more of that. But yeah, that's probably where we're going to go.

Or it could be based on what customers are saying in Airbnb. For example, we have this tag, this designation called Guest Favorite. It's 2 million of the best homes in Airbnb based on ratings, reviews, and customer service tickets. So I think we're going to do more and more of that. But yeah, that's probably where we're going to go.

Or it could be based on what customers are saying in Airbnb. For example, we have this tag, this designation called Guest Favorite. It's 2 million of the best homes in Airbnb based on ratings, reviews, and customer service tickets. So I think we're going to do more and more of that. But yeah, that's probably where we're going to go.

It's all going to play over the next 24 months.

It's all going to play over the next 24 months.

It's all going to play over the next 24 months.

I think it's a little bit different because you don't have the consolidation of inventory in the same way, right? Like let's take YouTube. Mr. B's video can get one or 200 million views. You can't have an Airbnb, a single Airbnb be that popular. So the entire marketplace is significantly more long tail. We're in 100,000 cities. Not one city represents even 1% of our business in Airbnb.

I think it's a little bit different because you don't have the consolidation of inventory in the same way, right? Like let's take YouTube. Mr. B's video can get one or 200 million views. You can't have an Airbnb, a single Airbnb be that popular. So the entire marketplace is significantly more long tail. We're in 100,000 cities. Not one city represents even 1% of our business in Airbnb.

I think it's a little bit different because you don't have the consolidation of inventory in the same way, right? Like let's take YouTube. Mr. B's video can get one or 200 million views. You can't have an Airbnb, a single Airbnb be that popular. So the entire marketplace is significantly more long tail. We're in 100,000 cities. Not one city represents even 1% of our business in Airbnb.

So I think generally there has been this move towards a little more consolidation of inventory via professional property managers, but it's not been that much. Again, for the last four years alone, 90% of our hosts are individuals. That number has remained pretty much unchanged.

So I think generally there has been this move towards a little more consolidation of inventory via professional property managers, but it's not been that much. Again, for the last four years alone, 90% of our hosts are individuals. That number has remained pretty much unchanged.

So I think generally there has been this move towards a little more consolidation of inventory via professional property managers, but it's not been that much. Again, for the last four years alone, 90% of our hosts are individuals. That number has remained pretty much unchanged.

I think many of the new products and features we're launching are going to enable more and more people to allow more and more long-tail inventory onto the platform. That's generally where we're pushing. Does it benefit Airbnb to have less consolidated inventory on the platform? It probably does because they're less likely to cross list.

I think many of the new products and features we're launching are going to enable more and more people to allow more and more long-tail inventory onto the platform. That's generally where we're pushing. Does it benefit Airbnb to have less consolidated inventory on the platform? It probably does because they're less likely to cross list.

I think many of the new products and features we're launching are going to enable more and more people to allow more and more long-tail inventory onto the platform. That's generally where we're pushing. Does it benefit Airbnb to have less consolidated inventory on the platform? It probably does because they're less likely to cross list.

But that would be a bummer if we did that and it was misaligned with a customer. But it turns out that there's a chart I've put out before. It literally shows the number of properties you manage in your five-star rating. And quite literally, it is a perfect curve downward slope. The highest rated Airbnb hosts manage one property. The second highest are managed two, down to 1,000.

But that would be a bummer if we did that and it was misaligned with a customer. But it turns out that there's a chart I've put out before. It literally shows the number of properties you manage in your five-star rating. And quite literally, it is a perfect curve downward slope. The highest rated Airbnb hosts manage one property. The second highest are managed two, down to 1,000.