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Airbnb
Acquired
The Negative Cash Conversion Cycle
This negative cash conversion cycle is really we talked about it a lot on the pintuoduo episode to understand it sort of more at a deeper level. This doesn't work if you're not growing. And you can quickly get yourself into trouble with oh reandin money you don't have if if you're shrinking. As difficult as thogh things were, nothing is going to stop this growth. So things are working in europe. January twenty twelfth, they hit accumulative five million nights booked on the platform. Six months later, in june 20 twelveh they hit ten million nights books on the platform. There's some bumps along the way, definite stuff that's been
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