The only way I can describe the fall of Airbnb in this COVID crisis is to liken it to someone falling down a hole. Falling frantically clawing at the sides in sheer desperation of survival with the hope to somehow cushion the blow and probable imminent death. Very few people would honestly know what it feels like to be falling out of control. What emotions and distress would be going through your mind to survive. Most likely thinking irrationally and panicking. Maybe even praying as you brace for impact. This is all understandable and human nature, but the fact will always remain that despite all the emotions and desperation, the final result may be out of your control simply because you were unprepared. I dare say, Airbnb was in this very position. Unprepared for such a large fall Airbnb desperately clawed at the sides to save themselves and will leave deep scars in doing so.
Heres a great article about the timeline of Airbnb's crash to earth. The article is written by Amber Carpenter from the US vacation rental group VRM intel and articulates the fall from grace from a 'Hosts' perspective.
The timeline shows desperation and unpreparedness. It doesn't show the real human effects on 'Hosts' who are in the vast majority of cases mum and dad investors, average families with mortgages.
In the end, the scar of Airbnb's decisions during this time of crisis will be long-lasting on many Hosts. It has shown how much reliability and control we leave in the hands of others.
It has also shown Airbnb's true colours in a time of crisis by taking a position of self-survival over 'Hosts' partnerships and business. Many Hosts will no doubt look to diversify their properties exposure and become more independent in the future.
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