TIVP010: Airbnb (ABNB): A Silicon Valley Gem w/ Shawn O’Malley

The Intrinsic Value Podcast - The Investor’s Podcast Network

In today’s episode, Shawn O’Malley (@Shawn_OMalley_) breaks down Airbnb (ticker: ABNB), a dominant and disruptive business in the hospitality industry. Airbnb has changed how the world travels, convincing millions to spend a night in a stranger’s home, similar to how Uber convinced the world to ride in strangers’ vehicles. Shawn explores how Airbnb got its start, the business’s economics, and whether the company is an attractive investment at current prices.

In this episode, you’ll learn the secret sauce behind Airbnb, how it stacks up against the competition, what Airbnb’s flywheel looks like, how the company plans to grow, the best ways to think about valuing its shares, plus so much more!

Prefer to watch? Click here to watch this episode on YouTube.

IN THIS EPISODE, YOU’LL LEARN

00:00 - Intro

03:06 - Airbnb’s surprising origin story

07:56 - How Airbnb’s co-founder has continued to lead the company

23:47 - Which concerns pose the biggest downside risks for Airbnb investors

25:12 - How Airbnb is navigating regulatory controversies in cities across the world

28:25 - What impact has Covid had on the business, and why it may have made Airbnb stronger

41:00 - Airbnb’s plans for growth and continued disruption of the hospitality industry

41:20 - What underpins Airbnb’s flywheel for success

47:56 - How to think about Airbnb’s valuation and Shawn’s decision on Airbnb for The Intrinsic Value Portfolio

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

• Get smarter about valuing businesses in just a few minutes each week through our newsletter, The Intrinsic Value Newsletter.
• Check out The Story of Airbnb w/ Clay Finck | YouTube Video.
• Aswath Damodaran’s blog post on ABNB.
• Leigh Gallagher's book, The Airbnb Story.
• Check out the books mentioned in the podcast here.
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