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Let's talk about this potential bubble forming in the airbnb market and how resilient is the company's business model in economic down This is actually a stock and real estate question because we can talk about Airbnb stock, which has not performed at extremely high levels. And we can also you know, I'm investing in Airbnb hasn't worked out. Yeah, I brought Airbnb a long time ago.
You said it.
Yeah, it's a little bit. It's not it's not a lot of Yeah, it's it's oh, it's not a lot of money. That's why I looked over like, what it's not a lot of money.
But yeah, it hasn't. It hasn't worked out. I'll tell you that much.
We're pressure in you don't call me on this one.
I forgot, I forgot.
But yeah, Airbnb is currently at one hundred and thirty two dollars. I think it debuted in twenty twenty at one hundred and thirty nine dollars.
Then it got all the way up to two hundred and nineteen twelve.
And then yeah, it's just been kind of like moving sideways dropping ever since.
It's about to be back to where ibo that Airbnb?
We speaking of investments, we got, Wow, we got somebody. Actually I'll talk about that later. Airbnb is a very interesting company because it's it's revolutionized the world really and you know, has given hotels really a run for their money. It's really the uber of hospitality, and you know where anybody can now like how uber anybody could have became a cab driver. Now anybody, you know, you can just
rent your house or rent your apartment. Brilliant idea. It's actually one of the best ideas that I think I've ever heard of. But like all good things, there's going to be challenges, and uh, the hospitality lobby extremely strong, and they have attacked them and they have they have successfully caused them.
Lots of issues. A lot of cities have.
Banned airbnb's, a lot of buildings have been airbnb, a lot of regulation. You can only airbnb half the year, you can't sublease the Airbnb is. They've they've faced a lot of issues. So academics actually even posted it. I got the screen beach his radar. So yeah, let's talk about it. Let's talk about it. You want to go over to the cities, Okay, So these are the cities.
Top ten cities for Airbnb collapse. Orlando, Florida down thirty to thirty four percent, Panama City down thirty four percent, Seattle, Washington, down thirty five percent, Lakeland, Florida down thirty five percent.
New Orleans down thirty seven percent, Breakridge, Colorado, down thirty seven percent, Denver, Colorado, down thirty eight percent, Nashville down thirty nine percent, Southbury, Maryland thirty nine percent, Asheville, North Carolina forty two percent, San Antonio, Texas forty three percent, Myrtle Beach, South Carolina down forty five percent, Austin, Texas, down forty six percent, Phoenix, Arizona, down forty seven percent, And the number one is Severnville, Tennessee is down forty
seven Who is paying sixty two hundred dollars to stay in Sarahville, Tennessee.
What's around there?
That must be I don't know what'sn't that's.
Going on over there, but all right, somebody let us know if.
A our journalistic integrity said this data is cute, which it can be. My larger point that I do want to address though, versus the stock, and then we can go to the business model. I don't think the Airbnb stock is dead, but I think it has been severely affected, like you said, by legislation. So number one, like, if you don't have legislation on your side, you definitely don't want to be attacked. If it's not going to be
in your favor. Airbnb is a great idea that it's probably poorly executed and as a beneficiary of a ton of funding, but the management team isn't reflective of the amount of funding that they were receiving.
Stock is on the up and up a little bit.
Everything is bounced up this year just because hedge funds and pension funds have to rotate money, so that's not really an indicative of their performance. I think they need to change some of these rules, Like, yes, it was an innovative idea to disrupt, but also when you try and disrupt the market, the existing players that are there are going to push back heavily. Hotels of justed incredibly well. And let's be honest, Airbnbs are not the safest thing
to be in. So if there's a chance of something that, like if you have a prominent rapper like Pop Smoke Die in one of your properties, And on top of that, if I get one in Atlanta, I gotta pay a two hundred and fifty dollars cleaning fleet fee.
I'm like Brian going on vacation a fucking mop No, I'm sorry.
There has to be fundamental changes in their business in order to make Airbnb viable Uber, Airbnb, vrbo. Some of those businesses come at the tail end of the last cycle of social media or web two point zero.
The business models just are not as strong. I don't like the stock.
The stock should hit one forty then slide back to somewhere around between one ten and one hundred. It probably won't be back to two nineteen in a long time. It's one of the stocks that got affected by inflation. Now, could they make an adjustment, some changes in management restructuring.
There's a lot that they can do.
There's some people probably from HG and Hilton that they probably should hire to run the company or add to their board that could give them a stronger push. But overall, I don't like the stock. And for those that have been doing Airbnb for a while, as there's still ways to because I know Matt gonna cook the substante shot out the MG. Are there still ways to be profitable in airbnbes, but at scale.
Once again, same with colleges.
The premise of just renting apartment anywhere and you can lease it and make money is not as promising or lucrative as was once proposed in twenty eighteen, twenty nineteen, and twenty twenty, and for that reason.
I do not like.
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An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from El Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy Noman, the United States
Secretary of Homeland Security under President Trump. Attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fine nearly one thousand dollars a day. Imprisoned and deported, you will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.
Do what's right, leave now. Under President Trump, America's laws, border and families will be protected.
Sponsored by the United States Department of Homeland Security.
Airbnb's stock So, like I said, business model Airbnb, Uber, it's kind of similar and new stock has actually performed kind of similar too. Uber has been sideways since it's open. It's went up and.
Then came back down and kind of like cardiac.
Chart yep, margin in both businesses. All right, So Uber is a bad stock. Also, are they coming to invest us?
Not currently not currently.
Uber socks piece of shit, respectfully, respectfully, respectfully.
Great innovation.
Okay, this is well, somebody is equivalent of me using nineteen ninety moves in a twenty twenty three NBA environment.
Yes, man, there's people are gonna say, like, look they weren't profitable.
They finally are profitable. Why isn't this good? Okay, I'll answer that, And now I won't even lean on my.
Two favorite cards, Apple or Microsoft if they're just not profitable and they're barely better than let's say, like when let's just take real estate, we're gonna say Airbnb is are estate company? Are they better than let's say McDonald No, not abb I'm saying Uber. Are they better than Tesla? No, we can argue, but they're different. They're different companies though Uber ubert is Uber?
Go ahead?
How many? How many times a month do you use it?
Uber time?
Exactly?
That doesn't mean that it's a good.
The problem marginal, terrible and Uber eats forget about it.
Oh boy, got a pot back on that stove.
You know what I'm saying, it's a very useful. It's a very it's a very it's very useful. Well that might be an issue, but that it's very Most people use Uber all the time.
Oh I forgot that.
Yeah, Yeah, we just we use a lot.
It's tough when you have relationships, you use Uber and so do we. And I think it's a great it's a great invention.
For not, but you bring up a good point.
You bring up a good point that maybe maybe maybe they needed a new CEO. And I don't want to advocate for anybody lose their job, but I think that the business model in Uber is very solid and very useful. The profit margin thing what you what you mentioned that could be that could be an issue.
So but half of the like, like I said, I use Uber all the time. I don't.
You haven't used Airbnb in a long time, But I use Uber all the time, and I use Uber Eats even more than I use Uber car service. So I feel that they have an opportunity to to be here for the long. I don't see them going away because like, let's think about it. If Uber goes away, nobody's catching cabs anymore.
So like we're screwed that there's no affirmative action for cabs. That's Uber, right, So think about this, right, even for somebody issues that they had from a safety standpoint, I know that was one of the issues they they've they've addressed that right. Even now, when you're in your Uber if it's not moving, you get the text messag's like are you okay? You're you're your Uber hasn't. They've adjusted
to the safety. But it was also interesting. Is the international play right Like we were watching Uber go into countries. We sat down at Afro Afro crin uh In l A and we were talking about uber Co and Naghana and Uber coming to Nigeria. So this there's still this international play that they still have room for expansion like we were in Europe it was easy, like catching the Uber was nothing, So there's still some room for growth.
I'm not so sure. I'm embarrassing. And that income is down nine point one four billion.
Dollars for this year twenty twenty two.
The income was down.
That's surprising because like I said, I don't I don't know why the income will be down.
People using it.
Yeah, some margins game and if I'm going to be super transparent, any business that is operating off really thin the margins.
Or low price they usually go through.
This series has went through this like the Circuit City failed and went under.
Because it's like.
It's all like it works for a period of time when there's an exuberance in the culture or country and spending or where there's so much money slushing around, but when things get tight.
Will the business be able to survive.
Usually no, and that's on the enterprise side or on the B two C side. It has to even in going to the episode in government contracting, just because you put it in the lowest bid does not mean you're gonna get the offer. Because you offer the lowest bid, you may not be able to fulfilled the services needed as a result. So everything, please write this down. Everything in business is really about margin. Yeah, I know, I get criticized and killed for my prices all the time
while doing a free show every week. I cannot wait till for all these be pre recorded. But you need a higher price point to be sustainable. Notice, even when Tesla beat those deliveries deliveries, right, one of the things they talked about is are we going to increase these prices back so our margins are not dramatically affected. You need that capital to be able to reinvest into the business.
So I'm glad you.
Brought up Tessa because that might be a way to help the margins, right yep. On Tournament driving, this might be away and Steve zero zero on YouTube. Yeah, I'm aware that Ubers and Ghana. I was referring to the gentleman who was integral in bringing the company to the country.
My graduates from my school being forced back drop drop might drop drop.
An illegal alien from Guatemala charged with raping a child in Massachusetts. An MS thirteen gang member from El Salvador accused of murdering a Texas man of Venezuelan charged with filming and selling child pornography in Michigan. These are just some of the heinous migrant criminals caught because of President Donald J. Trump's leadership. I'm Christy Noman, the United States
Secretary of Homeland Security. Under President Trump, attempted illegal border crossings are at the lowest levels ever recorded, and over one hundred thousand illegal aliens have been arrested. If you are here illegally, your next you will be fined nearly one thousand dollars a day, imprisoned, and deported. You will never return. But if you register using our CBP home app and leave now, you could be allowed to return legally.
Do what's right. Leave now. Under President Trump, America's laws, border and families will be protected.
Sponsored by the United States Department of Homeland Security,