This morning, Airbnb announced that they will serve "everyone
stakeholders, ”not just investors. To call it “the right thing to do
community, ”the home-sharing giant wrote in a statement
that the stakeholder base will include guests, hosts, communities,
shareholders and employees.
In other words, Airbnb is sending messages to companies
should no longer promote only the interests of shareholders.
“These principles inspire behavior that leads to thinking
not just about near-term actions, but longer-term horizons, ”Airbnb says
reader. They encourage us to think about all our stakeholders and instill
accountability. And they call for our creativity. ”
Airbnb is a rare type of unicorn: The company has been there
generally well liked by the audience, driven by a CEO who has done things differently
than the uber-aggressive founder types that started companies around the same
But the road to a first public offering has also been
full of obstacles. A company whose business is built on mutual trust between
hosts and guests, now Airbnb is facing a crisis of reliability. My colleague
Aric Jenkins recently
reported on the challenges in the company when trying to implement
Security is changing and considers the requirement as the ultimate one-stop shop journey
With Airbnb under even more scrutiny in the public markets
after the collapse of WeWork and the overwhelming performances of Uber,
Lift and Slack, it makes changes. Today it also announced changes to it
compensation program by taking into account factors such as progress on guest safety
when calculating employee bonuses.
Following the scandals led by WeWork & # 39; s governance practices,
It is only natural that other startups on the road to listing will place a larger one
focus on corporate governance, employee rights and inclusive cultures. I
would not be surprised if Airbnb's actions became the new norm.
HOUSEKEEPING : As a reminder, Term Sheet did not win
be in your inbox Monday for your MLK vacation. I still want to be around, so feel free
free to tweet at me here .
Have a great weekend and see you next week!