Masters of Scale Airbnb's Brian Chesky: "We died and were reborn." A special Rapid Response
Mar 16, 2021
In this engaging conversation, Brian Chesky, Co-founder and CEO of Airbnb, shares his inspiring journey of navigating the company through the pandemic's turmoil. He reveals the moment Airbnb faced an 80% revenue drop and how he redefined the company's core mission. Chesky discusses valuable lessons from Barack Obama, the emotional upheaval of layoffs, and the strategic pivot that led to their astonishing IPO. He emphasizes the importance of community and principled decisions while fostering a culture of connection and belonging to overcome a crisis.
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Airbnb's Near-Death Experience
- Airbnb lost 80% of its revenue in just eight weeks during the start of the pandemic.
- Chesky likened this to a car slamming on the brakes while going 80 mph.
Crisis as Opportunity
- Chesky viewed the crisis as an opportunity to demonstrate Airbnb's values.
- He believes a crisis is a spotlight, a stage to showcase a company's true character.
Navigating Layoffs
- Treat layoffs with empathy and generosity, offering support beyond the minimum.
- Provide severance, extended healthcare, resources for job searching, and create alumni networks.