2 Comments

Great teardown of Airbnb's business model! Though I couldn't understand how the Quarterly Adjusted EBITDA in Q3-2020 is ~$500MM, when their income (loss) from operations was -19% in the same quarter.

Expand full comment

Great post Tanay. Love how easy you make to read these posts for a layman who might not be expert at financial terms. Keep up the good work.

Expand full comment