Bit of a problem

Airbnb had a problem. Billions of dollars later it still has that problem -- but maybe also a solution. Plus 7 other things I think are worth reading.

I’m Bill Murphy Jr. Welcome to Understandably. Thanks for reading.

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I love a good origin story. Today’s is about Airbnb.

It’s also about a big announcement Airbnb had to make this week.

But let’s do the recap first. It starts with two Rhode Island School of Design classmates living in San Francisco in 2008.

One weekend, they realized that most of the city’s hotels were full, with people streaming into town for a big design conference. So, they ran an ad on Craigslist offering to rent air mattresses in their apartment for $80 a night.

Not the ‘right opportunity’

It worked out nicely. They half-jokingly called their venture “Air Bed and Breakfast.”

And they wondered if it might turn into a real business.

Of course, there’s an enormous difference between renting a room in your house and building something big. Their first months an…