Hey YouTube what's going on it's Richard founder of short-term rental University
and Airbnb super host and if you're like me you'll likely heard that Airbnb just
entered into its first worldwide sponsorship by entering into a suppose
at 500 million dollar multi-year global sponsorship for the Olympics now I
happen to love the Olympics personally I'm drawn to the Winter Olympics maybe
you like the summer it doesn't really matter the point is this Airbnb first
time ever doing a global worldwide sponsorship putting about half a billion
dollars behind the initiative now Brian Chesky the founder of Airbnb has since
tweeted that that numbers wrong could be lower or it could be higher we don't
know but he did dispute the number itself it's not exactly 500 million my
guess is it's pretty darn close but it's not exact so what is my take on it's
kind of interesting because Airbnb is going public in 2020 that's almost a
certainty because there's a lot of really high-quality employees that need
that exit and their options expire in 2020
so we're at an all-time high in the stock market we made new highs just
today it's a great time to go public they have enough demand that they don't
need to use a like traditional investment bank to get people to invest
it can probably just go direct so I predict here on camera right now that
they will go direct and they will not go the traditional route but doing this
program here puts them in like a world-class elite sponsorship it's a
huge five hundred million dollar ticket and it's right next to people like
coca-cola and Toyota and some of these other worldwide sponsors so it's a
really good idea to like bring up their image in the world right now you know
there's a lot of negativity on the Airbnb space right now between cities
and communities and Halloween parties with deaths and people trashing and
parties and you know all sorts of stuff that's like the stuff that sells those
headlines sell newspapers and they sell ads and so like there's a lot of
negativity in and around Airbnb so here Airbnb is putting half a billion dollars
to work to increase the quality of their image to increase the brand reputation
before they go public and also smartly to get a lot more hosts on their
platform in some of their most major cities and so I think it's really a
win-win I'm there's just not nearly enough hotels
for the influx of tourists and athletes and coaches and orthopedic surgeons and
you know nurses it I mean just when there's an Olympics the entire town the
entire community is a hundred percent Olympics both for weeks before during
and after so like everything is all about the Olympics and it just makes
sense that a lot of these homes that are in that area will become Airbnb ease and
lodge both you know coaches and athletes and guests and visitors and so on so
like I understand why they would do it I think it makes a lot of sense I think
the timing is perfect but interestingly I want to share with you a little bit
about what the joint statement from the committee and Airbnb said that the
partnership was intended to support the sustainability initiatives of the games
in part by including accommodation provisions that will reduce costs for
Olympic game organizers and stakeholders minimize the need of construction for
new accommodation infrastructure for the Olympic Games period and generate direct
revenue for local hosts and communities so if you stop and think about it for a
second in games past there was all sorts of initiatives to put up new buildings
and new lodging and temporary dorms and all this stuff and by redirecting and
thinking about the new world in a new light it's like wait a minute
we can use all these existing homes and all the existing infrastructure and put
money in host pockets and not build all these buildings that won't be needed you
know decades after the Olympics interestingly Airbnb expects the
sponsorship to create hundreds of thousands of new Airbnb hosts over the
next nine years as well as offer visitors a more authentic way to
experience the games and distribute the pressure that comes from an influx of
visitors now some of the cities might not really agree with that there's a lot
of community backlash and in fact one of the cities that the Olympics are going
to is Los Angeles last I checked Los Angeles has really strict guidelines
about how you can host and who can host and who can't host but I wonder if this
isn't like a early preview about how communities feel when air
B&B is actually a net positive to them they just won the Olympics it's a major
win for the city of Los Angeles on a world stage they've got all of this
stuff air B&B is a sponsor but is LA gonna say no friends you can't come stay
at air B&B is because Los Angeles is anti our sponsorship and we're not into
like hosting so you must stay at hotels I don't think so
I think somehow Los Angeles and other cities and other communities on a
go-forward basis will find ways to like asterisks carve out exceptions
oh these rules apply normally but during extenuating circumstances when there's
something and it's really good for our community suddenly we feel differently
about air B&B in fact we like it so start hosting right like how crazy is
that and we'll see I don't I don't know what Los Angeles will do and I don't
even know the rules in Los Angeles because I'm not a host there I just know
that Los Angeles is prohibitive restrictive they make it more difficult
than it needs to be if not outright like challenging or impossible but now we've
got a major sponsor coming to Los Angeles and we'll see what LA does about
it Airbnb was previously a domestic sponsor
but this will be the first time it'll be an elite worldwide sponsorship program
and the locations are Tokyo Beijing Paris Milan and Los Angeles and these
are five of Airbnb largest markets in the first place so it just makes a whole
lot of sense Airbnb co-founder Joe Gebbia said the
partnership will quote ensure that the games are the most inclusive accessible
and sustainable yet and leave a lasting positive legacy for athletes and host
communities Airbnb 'he's mission is to create a world where anyone can belong
anywhere and we are proud that the Olympic spirit will be carried by our
community right so let's stop and think about this for a few things because I
keep teaching the same words and now we're hearing them both in press
releases and from the founders and it bears underscoring so what are the words
that I keep hearing sustainability I also add repeatability and community
it's all about those things friends so as you set up your entrepreneurial
endeavors in the short term rental market and you become a host and then
you graduate to a super host and you start
to scale just remember to align yourself with what the Airbnb founding principles
are and those include sustainability and community and I always like to throw in
repeatability it's really wonderful to host somebody once in a sustainable
fashion but in order to be a successful entrepreneur you need to be able to
replicate that success and do it time and time again so please let me know
your thoughts below what will la do what do you think about this sponsorship does
this promote Airbnb in the positive spotlight that they need as they go
public and they want to raise as much money as possible go ahead and comment
below like the video and as always I'm gonna beg you to subscribe to the
channel but if you haven't liked hello hello come on Fred let's go thank you
very much