Listen: Airbnb Asks Shareholders to Share With Other Stakeholders
"Airbnb announcing it will consider all stakeholders when it comes to corporate governance. It says not just investors. It plans to take into account. Guess we're talking about this earlier hosts communities shareholders and employees plans to actually Basis compensation on this I spoke with CEO. Brian Chessy last night and he told me I don't want to be one of those. CEO's to say we're trying to do all this great stuff but then we treat board meetings exactly like every other board meeting. They're actually planning on creating a special committee on the board just to do this. And create a stakeholder day instead of shareholder day but it's obviously would include all of these other people it's going to be. This is what he says is the future of the way businesses are gonNA operate. Of course. There's a company that's going to likely go public later this year would be the biggest. IPO of the year when it happens and interestingly to to some degree you have to argue that the traditional shareholder will be diminished. I mean it. It seems like it's going to be a three. Winning Circus says look. He says it's not you know we're trying not it's a trade off against the other but he said look the future of all these companies to do this. This is somewhat what the Business Roundtable's talked about. It seems like he's he's trying to. He's not they're not part of the practice. But very very meaningfully way every one of those stakeholders have the same influence influence or is there a pecking order. The stakeholders is how I pushed him on that and I think that he was talking about. We don't want to trade one off the other I think invariably some we're going to have to have more power than others by the way right now regulators. I would argue. Perhaps more than any other stakeholder in his company probably are the the most important doing this before the IPO. I can understand why he'd want to do that. To fend off the regulators and to Tamp down criticism. That's come through but I don't don't know if you realize how difficult it is to be a public company because of all the CEO's who have taken their companies private again who have said forget it. It's too much of a hassle. That's when they're just doing dealing with shareholders folders. I mean to suddenly say I get having your employees at the table that makes a lot of sense but to suddenly say people who have no affiliation with the company. I think they need to do a much better better job of addressing those complaints. But I don't know if you want them at the stakeholders meeting having an equal vote or host the hosts who our customers and the the customers who are customers of the House and the person who happens to live next door and then the by the way they have some really good complaints. I see all the time on twitter. That's what they should do. A Better job of addressing. But do we want to bring them all into one meeting where this is happening look just addressed the people that are calling your customer complaint lines. It's going to be very interesting to watch. I imagined by the way they will have a direct listing as supposed to an IPO. In terms of how you think this is going to happen. which would be an interesting thing? They have historically not needed additional cash to raise so smart guy. Hey guys questions sort of how this all works itself out"