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Airbnb CEO Brian Chesky Reveals Leadership Advice He Received From Former President Barack Obama



Airbnb CEO Brian Chesky sought out Barack Obama’s mentorship.

During an interview with former First Lady Michelle Obama, Chesky revealed that he sought advice from Barack after the conclusion of his presidency in 2017. He believed that Barack was well-positioned to offer guidance that could inform his leadership at Airbnb, a vacation rental company that now boasts more than 5 million hosts and over 2 billion guest arrivals, its website mentions.

“Airbnb is a community. Who’s the most famous community organizer in the world,” Chesky said, alluding to Barack while speaking to Michelle.

Chesky’s time learning under Barack Obama as a mentee involved completing various homework assignments that he said changed his life. By 2018, he says his daily routine included attending night school with Barack’s lessons and participating in weekly one-hour phone calls. While practical, he points out one piece of advice that has stood the test of time: to become more intentional.

“He literally said, ‘So many leaders are like self-driving cars. Use that analogy. They’re not intentional. They’re like a car, but they never put the destination in,’” Chesky shared on the podcast, which is also moderated by Craig Robinson, Michelle’s older brother. “‘So they’re just driving somewhere.’ And he made me really be intentional about what do I want out of my life, out of the company? I ended up writing down a whole bunch of principles. I tried to institutionalize them for the company. I think it made a really, really big difference.”

Fast forward from his sessions with Barack to 2020 when Airbnb announced it was a publicly traded company, opening at $146 a share — a 112% increase from its $68 per share price during its IPO, notes CNBC and Benzinga. This was the 10th best IPO debut in 2020, per CNBC.
Airbnb had also included an endowment fund in its IPO for its hosts, consisting of 9.2 million nonvoting shares.
“We want hosts to share in our success, not merely for a single moment in time, but for as long as Airbnb exists in the world,” the company wrote at the time, according to CNBC. “We intend the Host Endowment Fund to be a long-term investment in the future of our host community, to be shaped by hosts for hosts.”
Airbnb currently has a market cap or net worth of $79.36 billion, notes Stock Analysis.



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