$16.8m follower assets
Airbnb: Headcount down 5%, revenue up 75%
Here is an extract from my full review of the Airbnb $ABNB 2022 annual report
Read the full piece here
What a business model truly. Question tho. Have we heard about how much money they had at SVB? Company hasn’t said anything which worries me but just wondering since I heard on CNBC it had money. Tagging some Airbnb bulls to see @stockopine
@christian7621 zero exposure 
@wolfofharcourt I didn’t see that tweet. Perfect thank you
@christian7621 no problem
@wolfofharcourt can’t trust CNBC lol. Happy to find another Airbnb bull on here. I usually just get to talk to @stockopine about Airbnb. So nice to get to know you. Assume Airbnb is one of your favorite positions long term. I gotta check out more of your sub stack articles now
@christian7621 you too man. It’s a fascinating business and definitely one that I can see myself holding for the long term. I really admire Brian Chesky and his approach especially how he navigated the pandemic
@wolfofharcourt I know man I say that all the time anytime I comment on the company. How they managed and navigated through the pandemic and the amount of cash they are bringing in its impressive. I truly admire him. He’s one of the best CEO’s out there I think
Airbnb is built differently!
Great write up by the way. I wondered if you have a book recommendation for $ABNB's founding story.
@joeyhirendernath Thank you for the kind words. I have't read any so if you've got any let me know
Now also service fees down please 😅
@mavix Take rate crept up marginally in 2022 so I guess we won't see that yet
love it! Perfect company showcasing a scalable business. Already is but will be even more of a FCF and profit machine in the future.
@rihardjarc fully agree Richard. I think the next big “challenge” ABNB faces is proving it is an effective capital allocator. It’s going to need to do something with all of the cash, internal reinvestment or M&A?
@wolfofharcourt I think that’s the bulls thesis and bull case for Airbnb. Everyone now knows they can print cash and have an insane amount of cash on their balance sheet. It’s next steps now. What do you see them doing. Internal reinvestment, M&A, maybe a little of both like I think. Shit maybe even a special dividend someday with all that cash. Sky’s the limit for this company. This is a tech company and ain’t nobody out there like it.
@christian7621 tend to agree with that
@wolfofharcourt lol love to shoot you a dm and talk more
@wolfofharcourt I think that’s also kinda what I’m waiting on. I’m waiting on next steps. What are you gonna do with all this money. They seem to be announcing something big this summer new website or something like that. But I’m really waiting to see what they do. Gonna turn into Apple where they just sit on a huge stock pile of cash and be in every single M&A talk then like they are lol
Really great take, @wolfofharcourt! I like how at the end you give a final score out of 5. I'm curious if you've had an 1 out of 5s?
No 1s or 5s. That could be due to biases in both directions though
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