In 2009, Airbnb was close to going bust. Like so many startups, they had
launched but barely anyone noticed. The company’s revenue was flatlined
at $200 per week. Split between three young founders living in San
Francisco, this meant near indefinite losses on zero growth. As everyone
knows, venture investors look for companies that show hockey stick
graphs, and according to co-founder Joe Gebbia, his company had a
horizontal drumstick graph. The team was forced to max out their credit
cards.
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