Navigating Crisis Through Focused Strategy

In the face of losing 80% of its business within eight weeks during the pandemic, Airbnb adopted a focused strategy that proved pivotal for its survival and subsequent growth. The CEO, Brian Chesky, emphasized the necessity of concentrating efforts, which included laying off nearly 2,000 employees and halting new projects to return to the company’s core competencies of home rentals and experiences. Drawing parallels with Apple's revival in 1997, Chesky's leadership involved getting intimately involved in every aspect of the business and enhancing its product offerings with over 150 upgrades in the past year. This strategy, alongside effective communication and a commitment to maintaining momentum, positioned Airbnb for a historically productive period as the crisis subsided.