Name: Can Airbnb Outperform a Potential Recession? | WSJ
Uploaded: 2022-08-04T22:10:53.000Z
Duration: 7 min 19 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

- [Presenter] This is a tiny home on Airbnb.

this listing has brought in over $20,000 for its host.

earned over $13,800 according to the company.

- The tiny home doesn't cost a lot to build,

and yet it could charge hundreds of dollars a night.

- [Presenter] Airbnb posted a profit in its second quarter,

as guests booked a record number of stays and experiences

and hosts increased prices for rentals amid high inflation,

but people didn't book as much as analysts had projected,

and the company's summer bookings forecast

- Obviously it's an incredibly dynamic period of time,

around the time of the 2008 financial crisis.

This was a time when people were really hard hit

and they were looking for a way to make an extra buck.

which let travelers book classes, tours, and outings.

- The CEO branched out into all kinds of things

forcing Airbnb to take on $2,000,000,000 in debt,

- I hope I never do a side project again in my life.

when you try to do new things as side things,

- [Presenter] Summer of 2020 was a turning point for Airbnb.

- [Rana] People started quarantining with their families.

So that's something that definitely benefited Airbnb.

- [Presenter] Local travel became its stronghold,

and people started using the platform for longer stays.

The company was one of the hottest public listings of 2020,

though with stock price has fallen since then

In August, Airbnb projected record third quarter revenue

and said it expects to post its first full year profit

- A lot of businesses have lucky moments,

but there's something to be said about getting lucky

and also being able to ride that wave and capitalize on it.

- Back then in 2008, a lot of people turned to hosting,

and a lot of people because they didn't have as much money

were looking for more affordable ways to travel

bring a lot of people who were looking for

ways to make up for lost income onto the platform.

And you can really see them capitalize on timing

- [Presenter] Airbnb redesigned its app and website

to focus on local stays during the pandemic.

Last summer, it launched a flexible search feature,

You know, we could travel during the week

So Airbnb starts noticing this trend and it says,

you know, we can sort of capitalize on this, and they do.

Airbnb launched another redesign of its search tool

that split homes into more than 50 categories

this is key to the company's future growth

When it comes to addressing safety issues on its platform,