Airbnb CEO Brian Chesky originally predicted that a fully redeveloped app — with AI at the center — would already have been released. Now, he's saying it'll take years.
The moderation in Airbnb's growth in the second quarter, which ended June 30, is obviously not because stock markets have nosedived in the past week. It's tough to keep a company growing at a rapid clip at scale.
Booking.com has been working on building up its U.S. supply of short-term rentals for several years, relying on relationships with property managers. Perhaps it needs to take on the more labor-intensive task of focusing on individual hosts. It won't be easy.