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Airbnb
- lolizbak 16y agoIt's always good when VCs publicly reflect on missed opportunities. As a reminder, here is the incredible (and fun) list of Bessemer anti-portfolio : http://www.bvp.com/portfolio/antiportfolio.aspx http://www.bvp.com/portfolio/antiportfolio.aspx
- coffeejunk 16y agoworth watching is Brian Chesky talk at Startup School as he goes a bit more into detail: http://www.justin.tv/startupschool/b/272180383 http://www.justin.tv/startupschool/b/272180383 they also have a dedicated site for the cereals (and a song!!): http://www.airbnb.com/obamaos http://www.airbnb.com/obamaos
- Straubiz 16y agoA very compelling story! Raising your first $ has rarely seemed so easy.
- tuhin 16y ago1. The story about Obama' Os makes it seem so easy to raise $32k. Of course it does not always pan out the same way. 2. A VC/firm accepting their mistake and missed opportunity publicly is amazing indeed. 3. The best lesson was making sure the same is not repeated, aka Box on the table.
- netcan 16y agoI have the opposite take on #1. If someone makes it look easy, watch em. Roger Federer makes tennis look easy, so easy you wonder why everyone doesn't just do what he's doing. The court looks smaller, the ball looks slower.
- tuhin 16y agoActually what you are suggesting was actually the take away and not that you don't do it since it does not always pan out this way. That while it looks easier you should also know it is not always this easy. So when someone is making it look easy learn all you can but with a pinch of salt
- dtran 16y agoIt is interesting that you chose the "He (Federer, Jordan, Ronaldo, Hank Aaron, etc.) makes it look so easy" analogy because you generally know if he's making it look easy during games/matches, it's only because he's practiced it a million times before. I would argue that he can make that shot or that swing so effortlessly when it matters most because he's practiced it so many times more so than because of natural talent or anything else. We tend to focus on how naturally talented he is because hard work is unglamorous, but talent really just gets you to that level of competition - from there, it's mostly just focus, hard work, determination, and of course some lucky bounces that separate the 10-time champions from the draft-day busts. Sure, a startup can't quite practice shots the same way those guys can, but notice that it's usually the same startups that you hear pulling off these amazing hacks/hustles that are also crushing every feature/product launch, are always in the press, etc. Reminds me of that Nike ad campaign showing players making their amazing, signature plays not under bright lights but alone at dawn over and over: "There are no cinderellas."
- OasisG 16y ago1. The story about Obama' Os makes it seem so easy to raise $32k. Of course it does not always pan out the same way. I don't think he meant that it was easy. I think he meant the exact opposite, which is why it's so impressive.
- expertio 16y agoIf you are interested, we are also on our way making Airbnb for individual's expertise. http://expert.io http://expert.io But it is just like the Airbnb story, start from nothing is always difficult.
- romland 16y agoHm, this was a perfect scenario where I wished the colour of the links would be as "grayed" out as the rest of the down-modded comment. I ended up clicking it and, well, it's what you'd expect. I don't mind the odd guy sneaking in a shameless plug here and there, but this was just a bit too forced and you just made yourself look silly. :/
- fedd 16y agoha ha! and check the initial post's comment thread: the same comment caught Mr Wilson's attention. so not that silly...
- bl4k 16y agopost it as a separate thread and a show hn
- 16y ago
- vizzah 16y agoI tried Airbnb several times, looking to find an apartment in London, Barcelona, NYC.. but it was only a waste of time for me, unfortunately. The idea is great, but there are just too many people renting their properties who simply have no idea what they are really doing and how to do it responsibly. I was receiving answers like 'Sorry, my flat is not available - it is a very short notice" from the renter, who's calendar was 'available' for my dates weeks in advance. From others I heard "This property isn't available, but I will offer you this and that", which were not even comparable. Then I came to the realization to avoid dealing with those who maintain multiple listings, as it's their main trick to lure guests with one available property and then try to market what they have really available. All in all, there are just too many time wasting opportunities on Airbnb right now. I would rather pay a bit higher to deal with someone definitely reliable and who does it professionally. I think it will take few more years for Airbnb renters to pass the natural selection and earn enough reputation to be easily discoverable among those who rent their flats out to get a payday advance..
- martharotter 16y agoI am trying it for the first time, I just reserved an amazing-looking houseboat for a week in Amsterdam while I'm there for the Mobilism conference. Can't wait! However I had tried it before in Paris and New York, and many people's places looked like they usually cater to couch surfers and are now doing the same but charging (often the same amount as a reasonable hotel!). I think Airbnb has done a good job of curating certain lists (there's a collection of treehouse apartments/houses, for example, and cool, design-y places in London) and I'll probably look at those more than the regular area searches.
- mseebach 16y agoI tried it once in DC, and it was perfect. First or second property we contacted agreed, and the host was a very pleasant guy. Later we tried it for London, which was a train-wreck (contacted many properties, got shady, if any, responses, the one we picked and agreed with eventually just backed out with no warning). I'm going to Paris next week, and we've a studio flat booked through AirBnB - first one contacted. It's got good reviews, so I'm optimistic. Gut-feeling says that AirBnB works once it has critical mass in an area - but until it has that, it's a mess. I'm not sure what they could do about it, it's really a chicken-and-egg problem. Perhaps it'll solve itself in time, as more areas develop critical mass.
- rucx 16y agoi think that Airbnb's cereal story doesn't only demonstrate the value of having a hustler in the founding team of a startup, but also the value of understanding (pop) culture for IT startups, as this cereal idea only worked because they caught the right cultural wave at the right time with the right approach. So at least for B2C startups, marketing/branding is an important contributor to success from an early stage on.
- jedbrown 16y agoWhat does this story actually show? Did they have some a priori guarantee that one of the batches would sell out? If so, why not do a small amount of research to figure out which one?
- pclark 16y agoDropbox and Airbnb are two of the most revolutionary products (alongside the iPhone, 802.11b, etc) I have ever used. These two companies, amongst others, are the answer to when people challenge that no "world altering company" will come from a startup accelerator. Dropbox has literally changed how I (and dozens of my friends) use computers. Airbnb has opened the door to affordably travel the world. I was going to go to Barcelona for a weekend surfing trip in a week or two, and flights were £100 (from London) and hotels were £75+ per night. With Airbnb, I found an amazing apartment for £30 a night. That is a huge. Traditionally, you have a hotel room - but that is just a room with no kitchen, meaning eating when travelling almost requires you to eat out, hugely expensive. With Airbnb I can find an apartment with a kitchen, and purchase local produce for lunches and such. Being able to request wifi in apartments is an insanely great feature if you're able to remote work. I find the Airbnb website pretty bad if I am honest (incidentally, I them tons of feedback on it a few days ago) but I hope they are going to fix it. Asking me where I want to travel and only giving my a search box is mediocre, the benefit of Airbnb is that I can travel to places I have never even heard of, for less than traditional holiday resorts. A lot of the best startups are the ones were you can use assets to brutally destroy the present market incumbents, and Airbnb is a perfect example of using a hotels largest advantage (erm, hotels) as their weakness. Airbnb will obliterate all present hotel companies eventually. I'd bet money that Airbnb will be the largest exit of all batches Pre-2010 (which is when various friends' startups (and myself) were accepted, and well, we're competitive like that)
- nupark 16y agoDropbox and Airbnb are two of the most revolutionary products (alongside the iPhone, 802.11b, etc) I have ever used. I can't speak to Dropbox, but Airbnb isn't really a revolutionary idea from the user perspective (although they get a lot of play here for being a YC company). http://www.vrbo.com/ http://www.vrbo.com/ has been around since 1995. They were purchased in 2006 by HomeAway, who just filed for a $230 million IPO. VRBO's model is different, in that they provide a classifieds service rather than actually handling the transaction directly; on the other hand, I've had much better luck finding good temporary apartment rentals in NYC using VRBO. I'm not saying that AirBNB isn't useful -- or that there isn't some value in them handling transaction directly, but rather, that they're not really that revolutionary, and should they succeed in bridging the gap from "rent an air mattress" to "rent unlicensed privately managed hotel rooms," they'll likely find themselves falling afoul of local regulations and the neighborhood's ire. The "Three Big Myths About Illegal Hotels" are a good read: http://www.frommers.com/articles/6912.html http://www.frommers.com/articles/6912.html
- yannickmahe 16y agoA sidenote to the story, I find it funny that they sold the Obama O's easily but not the Captain McCain's. Could selling themed cereal be an accurate predictor of an election's results?
- metageek 16y agoMore likely an indicator of whether the candidate's supporters have a sense of humor.
- lurker14 16y agoCheerios / O's are also a much more popular cereal product than whatever Captain McCains are.
- _harry 16y agoCaptain McCains were/are Captain Crunch.
- yannickmahe 16y agoAt 40$ a box, I don't think taste is really the issue.
- nnash 16y agoIt's a novelty item. You aren't intended to open the box and eat the cereal, the popularity of the cereal wasn't what was important to the buyers.
- joshbert 16y agoIf you watch Fred's interview with Chris Dixon, you can see the honest regret of not having invested in AirBnB. My sincerest congratulations to the guys over at AirBnb for all of their success. It is truly a remarkable startup.
- listic 16y agoThe story about Obama O's had me excited. I start imagining myself in such postition and thinking if I would be able to pull such a stunt and the objections keep popping in my head. I wonder if it's just my fears or maybe the situation in USA is so different? Please say if the following is true in your home country: 1. You cannot go to presidential nominating convention (or similar political event). 2. You cannot engage in unauthorised commercial activity (sell stuff) at presidential nominating convention (or similar political event). 3. You cannot engage in unauthorised commercial activity (sell stuff) without proper license, cash register. 4. You cannot sell food without proper license (stating your right to sell food), certificate(stating origin of your food; who's made your "Obama O's"? Are they safe?).
- rbranson 16y ago1. You are mostly right, but in genuine US style, the other events surrounding the convention have sort of grown to become larger than the convention itself. It's likely they were selling these at some kind of event or area not directly affiliated with the convention. 2. I'm sure this is the case, but they were likely able to circumvent this rule by not selling in an area directly controlled by the convention. 3. You don't need some kind of license for selling most goods, but food is basically a controlled substance. If it's pre-packaged, the packager is regulated, not the retailer. 4. Non-perishable food is regulated mostly at the packaging & handling level. EDIT: They could have also claimed that it was art and not for consumption, which is a way to skirt the labeling requirements.
- richcollins 16y agoIt is a story of pure unadulterated hustle I see it more as a story about creativity. They could have "hustled" selling something that wasn't novel, completely wasting their time. I don't think that most entrepreneurs lack "hustle" they lack creativity. It's much harder to develop, and some people don't have a talent for it no matter how much they try.