False economy What’s in it for me? Understand what makes the

Airbnb has grown from one man’s idea into a 
powerhouse in the hospitality industry.
Just as climbing into a stranger’s car went from 
being unthinkable to routine, so has paying to 
sleep 
in 
a 
stranger’s 
house 
become 
commonplace. Nowadays, thanks to Airbnb, 
many tourists see this as a perfectly acceptable 
way to find accommodation.
Airbnb arose from necessity and humble 
beginnings. One of the company’s founders, 
Brian Chesky, was busy working on other 
projects and simply couldn’t afford to pay his 
rent. So he decided to instead sleep on a 
friend’s sofa and pay him just a bit.
That’s when a lightbulb went off in his head. 
Hosts could rent out spare rooms in their houses 
and apartments, making some money while 
visitors saved on accommodation costs 
compared to hotels.
For guests, another attraction is the authenticity 
of staying at an Airbnb. They can connect with 
locals and see and experience things that most 
tourists miss.
The founders felt this notion was particularly 
inspirational, and Airbnb’s slogan became 
“Belong anywhere,” implying you’ll always feel at 
home, wherever you go.
Eventually, Airbnb grew into a major player in 
the travel industry, and in August 2016, the 
company had its biggest night on record, with 
1.8 million guests staying in Airbnb rooms all 
over the globe. That’s more than all the rooms of 
the entire Marriott Hotel Group, the world’s 
largest hotel company!

---

Almost no one had predicted this.
In fact initially, no investor wanted to go near the 
concept, fearing that safety issues would 
discourage people from using the service.
But, even though there have been a few 
mishaps, broadly speaking Airbnb has proved 
that we can trust in our fellow humans after all.
Clearly, Airbnb and Uber have brought 
consumers some great innovations. But it hasn’t 
always been a smooth path.