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Mark Monchek shorts 3

Name: Mark Monchek shorts 3
Uploaded: 2023-12-05T14:30:27+00:00
Duration: 57 s
Channel: Tyler Wagner
Description: Mark Monchek explains why companies succeed or fail: it comes down to culture. Airbnb's founders saw opportunity where others saw absurdity in 2008…

5 Dec 2023 · 1 min

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Mark Monchek explains why companies succeed or fail: it comes down to culture. Airbnb's founders saw opportunity where others saw absurdity in 2008, renting homes to strangers. Now cities like New York are fighting back, trying to limit the company because it threatens hotels and affordable housing.

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Why did some of these companies drop out off the face of the earth and others rise? Well, because they had a culture of opportunity and they were willing to challenge the beliefs of the day, right? So the companies that failed were no longer willing to bring in outside opposing ideas. And the companies, let's say, let's look at Airbnb. Back in 2008, if you asked the average person, would you rent your home? To somebody that you never met and maybe would never meet, you go, you are out of your mind. That's absolutely insane. But these founders of Airbnb knew something that the public didn't know. And even the investors didn't know. It took them a while to get investment, but look how it's taken off and how it's changed the whole world right now. And now you have cities like New York City, which are trying to restrict Airbnb because they're competing with the hotel market and they're competing with affordable housing.