1. When VCs gave Airbnb that money, Airbnb wasn’t profitable. 2. VCs want to own parts of a valuable, growing business. It’s probably doing more good as Airbnb

1. When VCs gave Airbnb that money, Airbnb wasn’t profitable. 2. VCs want to own parts of a valuable, growing business. It’s probably doing more good as Airbnb shares, dollar per dollar, than any other private company.