Airbnb's Belinda Johnson to step down as COO, join board

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Now I've independently. They confirmed that that Belinda Johnson has been telling people for a few months now that family sort of sort of reasons to pile up for her to have a good rhythm district of want to spend more time away from the airbnb sort of executive team. She is at being added to the board. I should add. Add the board of directors. So she staying sort of within the trump which which I guess would be. Well I don't know I guess you can speculate one way or the other but at the very least it wasn't any sort of falling out that precluded certainly not release certainly not a falling out between her and Brian Jet Ski. I think he would sort of burn the place down before getting rid of her. It's that tight of a bond however I will say that. It's very clear if you just look at what we've reported sort of around around the sort of a large number of losses. The company has been taking on in the first half of this year. It went from a company in the first half of last year. Where was losing about one hundred hundred and fifty million to now losing about four hundred million in the first half of this year some of that is planned losses asses but I think it's also becoming clearer that the companies getting bigger more complicated and will need to sort of really figure out how to get? Its spending Dang under control if it's going to go into public offering with the story of you know we are a rare example of a money-making he making we. We've seen the markets react unfavourably to companies like we work and others that are just losing massive amounts of cash. I'll be Uber Brin lift. Haven't had a great time in the market so airbnb struck me as the one that could tell a slightly different narrative if you want to back a tech company. That isn't just an money. Inferno were were your guys girls totally and I think it's what investors I think will be trying to understand is will airbnb will be able to level up and be a company that was more than just one that had a great business model great you know sort of customer demand and you know in the first decade of its life and be able to sort of add to that efficiently and add more business lines execute dude on sort of policy goals execute on experiences and China and all the other kind of things they wanna add onto the core business. That just means that this is getting more complicated. And there's just going to continue to be I think Sort of a question of of the right leadership going forward right so so. You mentioned a couple of initiatives and I do want to circle back to that at the end of of this chat because firstly you did mention policy stuff so that's been like you know Ongoing Stumbling Block AIRBNB. It seems to flare up every every couple of months when when certain politicians and cities yeah work to regulate them ban and whatever it is. What's what's the latest on the AIRBNB Policy Front? Yeah you're right. This is something they've they've been you know. Number one or number two risk for AIRBNB for years is nothing new I think what investors and other folks are getting antsy about as airbnb gets closer to going the public is where is it. How's IT faring? In New York. That's one of the biggest tourist destinations in the world can make their if you can make get in New York Concrete really made it. That's how they say it you make it here. You've done it boy. Yeah and I think one worrying sign was the fact that it lost the AIRBNB spent big to try to win sort of ballot referendum in Jersey City earlier this month and lost in a pretty significant landslide slide and and that loss essentially restricts their business in a key market you know adjacent to New York and New York itself is long been in sort word of this regulatory gray area in Airbnb hasn't been able to win over hotel unions and other sort of sort of opponents in New York so you know it's all it's going to be an issue for AIRBNB. They have wins. They have losses. I think right now what I think people are going to want to understand is are they winning more than they're losing or are they losing more than they're winning and that was a blend of Johnson Sort of place you oversaw. She oversaw the policy team. I haven't I've been able to independently. Say that. You know if she sort of any kind of policy related losses. Wait her way in her. Her but I think the question we we should raise the question and we should be watching this going forward and I imagine it'll be interesting to see the effect that the presidential title campaign has next year and the kind of rhetoric coming out of I would imagine mostly the democratic side depending on who the nominee is about the relationship between government and tech. And if we're seeing being what we've seen in the past couple of months which is a lot of people kind of on the left taking a very adversarial approach tech companies. You know taking pride. In the fact that Amazon John pulled out of going to New York and You know the fact that Amazon loss to kind of embarrassing battle in in Seattle for a town council position or city council position You know that could affect airbnb to write. You know like if we're seeing a climate that's very pro regulation and an anti tack than Airbnb is kind of line to the street that they've got this regulation poses a figure it out just seems kind of weak it could you know they benefit from the fact that their relationship with the labor force if you will is not as contested as like an uber you know they the people that they rely on to has sort of put their homes on AIRBNB are like a little bit more middle

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