March 15, 2014
News
By Dr. Yossi Sheffi, LinkedIn Influencer
In October 2007, Brian Chesky, a recent college grad, gave up his job hunt in Los Angeles to stay with a friend in San Francisco.[i] Unemployed, Chesky couldn't help his friend pay the rent — until the roommates came up with an idea.
A large conference for industrial designers had come to San Francisco and overwhelmed the local hotel market. Many hotels were sold out; the few rooms that remained were being offered at exorbitant prices. With the addition of inflatable mattresses and a meal of eggs and bacon, the two turned their apartment into a bed and breakfast at $80 dollars a night. They called the service “Airbed and Breakfast” and made enough money to pay their rent.
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