Airbnb: Room To Breathe

From “I’m Not Happy About Our Growth” (December 2025):

“I see a few long-term opportunities that will help Airbnb to achieve the growth required to justify its mid-20’s EV/EBIT multiple [at ~$117 per share]… With that said, I also get the sense management is navigating the public market challenge of focusing on the long-term while living in the short-term [slowing revenue growth and EBITDA margin pressure from certain investments].”