Dara Khosrowshahi

It's got some wine in here.

It's got some wine in here.

So can I join you guys?

So can I join you guys?

Thank you very much. Happy to be here.

Thank you very much. Happy to be here.

I can't tell you. Yeah, that's the right answer. But it was a good board meeting.

I can't tell you. Yeah, that's the right answer. But it was a good board meeting.

Yeah, we bought Microsoft's stake. Microsoft decided it's non-core. And we bought Microsoft's controlling stake. And Expedia was a public company, but we had a control position. And then at some point, we decided, hey, let's bring in the whole thing because we loved what Rich and team were building.

Yeah, we bought Microsoft's stake. Microsoft decided it's non-core. And we bought Microsoft's controlling stake. And Expedia was a public company, but we had a control position. And then at some point, we decided, hey, let's bring in the whole thing because we loved what Rich and team were building.

Yes, yes. I mean, what could be more material than September 11th for travel?

Yes, yes. I mean, what could be more material than September 11th for travel?

Yeah, we didn't. And we knew we had the option to get out.

Yeah, we didn't. And we knew we had the option to get out.

And at the time, one of the values of an option is time value, right? You don't want to exercise an option before the last moment that you can. And Rich called, I think, Barry at the time. And he said, listen, September 11th happened. Business obviously has fallen off cliff. We think it'll come back, but I don't know.

And at the time, one of the values of an option is time value, right? You don't want to exercise an option before the last moment that you can. And Rich called, I think, Barry at the time. And he said, listen, September 11th happened. Business obviously has fallen off cliff. We think it'll come back, but I don't know.

And he said, the place is pretty unstable now because no one knows whether the deal is going to go through or not go through. There's this Mac clause. So if you want to get out, it's fine. Rich is very confident. He's a great entrepreneur. It's fine if you want to get out, but just let us know. You know, which way you want to go. God, he's good. And he's really good.

And he said, the place is pretty unstable now because no one knows whether the deal is going to go through or not go through. There's this Mac clause. So if you want to get out, it's fine. Rich is very confident. He's a great entrepreneur. It's fine if you want to get out, but just let us know. You know, which way you want to go. God, he's good. And he's really good.

I do. I can't imagine that if you're at the company, everyone's like, what's happening, right? There's a future. Companies thrive on certainty, on kind of rhythm, et cetera. And it was a tough macro position to be in. And then the micro position of what's going to happen at Expedia. So I can imagine what he was going through.

I do. I can't imagine that if you're at the company, everyone's like, what's happening, right? There's a future. Companies thrive on certainty, on kind of rhythm, et cetera. And it was a tough macro position to be in. And then the micro position of what's going to happen at Expedia. So I can imagine what he was going through.