CEO Brian Chesky on Airbnb’s racial reckoning and the future of travel

07/02/20 • 32 min

2020 was going to be a big year for Airbnb CEO Brian Chesky: With a valuation around $31 billion, Airbnb was going to go public on March 31. And then the pandemic hit. Within weeks, Airbnb was gutted and Brian was forced to lay off 25 percent of his staff. “It would have been so easy to just spiral,” Brian Chesky says. “But every moment is a moment for us to be doing something that’s defining, to make us better.” On this episode of Back to Biz with Katie and Boz, co-hosts Katie Couric and Bozoma Saint John talk to Brian about how he quickly pivoted his company and how travel will be forever changed. In the wake of the national anti-racism protests, Airbnb has also had to reckon with its record on discrimination. Brian Chesky shares his regrets on not doing more sooner on race and the steps the company is taking now to make the platform and the company more equitable.

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07/02/20 • 32 min

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Back to Biz with Katie and Boz - CEO Brian Chesky on Airbnb’s racial reckoning and the future of travel

Transcript Summary

In this episode, CEO Brian Chesky shares Airbnb's journey during the pandemic and their response to the challenges faced by the travel industry. The company provided financial aid to hosts, introduced online experiences, and looks to focus on community-based and authentic travel going forward, with a shift towards rural and smaller communities. Chesky discusses the temporary decline in city living due to remote work and Zoom, but also believes big cities will ultimately recover and thrive. The episode also delves into Airbnb's racial reckoning, addressing their race problem through initiatives like an anti-discrimination task force and collecting perceived race data. They are actively working on increasing diversity within their board and executive team, recognizing the competitive advantage and responsibility that comes with it. This episode offers insights into the future of travel and the company's commitment to addressing diversity and systemic racism.

Transcript

Speaker 100:00:01.560

Hi for one. I'm Katie Couric and I'm Boma st. John and this is Back to Biz with Katie and Bose Bose. I'm really excited to have Brian Chesky on our podcast today. I've known him for a long time. He's been the boy wonder as the CEO of Airbnb. Yes for sure. I mean even when I was in Silcon Valley at Apple and then at Uber, I was always impressed by what he was doing. But his backstory is so interesting for people who don't know. Brian started the c

CEO Brian Chesky on Airbnb’s racial reckoning and the future of travel Top Questions Answered

What are some predictions for the future of urban cities and creative individuals?

Expect a population slowdown in urban cities, with creative people redistributing to cheaper cities.

How will the pandemic impact society and old habits?

The pandemic will result in a societal reset, with lasting changes and a shift away from old habits.

What challenges did Airbnb face in terms of racial discrimination?

Airbnb faced a race problem with discrimination on its platform, prompting anti-discrimination measures and partnerships with civil rights organizations.

How does Airbnb measure bias and discrimination on their platform?

Airbnb has developed a way to collect perceived race data, allowing them to measure bias and discrimination on their platform.

What is Airbnb's approach to diversity in its leadership?

The company aims for more diversity in its board and executive team, acknowledging the benefits of a diverse workforce.

How does the CEO of Airbnb address diversity issues?

The CEO expresses the need for urgency in addressing diversity issues and regrets not doing more sooner.

What is the importance of demanding positive change highlighted in the episode?

The hosts emphasize the importance of demanding positive change and hope for a real moment of change in society.

Who is Brian Chesky and what is his role at Airbnb?

Brian Chesky is the CEO of Airbnb, which he started 12 years ago during a recession with his friends.

What challenges did Airbnb face during the COVID-19 pandemic?

The COVID-19 pandemic posed significant challenges for Airbnb, forcing them to change their business model and refund guests' money.

How did Airbnb support its hosts during the pandemic?

To support the hosts, Airbnb and its employees contributed a total of $4 million to help with their financial difficulties.

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