Subject: Airbnb
2 days ago
- Fred Wilson publicly admitted missing Airbnb, a rare move for a VC.
- Paul Graham published email exchanges showing efforts to convince Fred to invest.
- Airbnb began as AirBedAndBreakfast, funded by selling cereal.
- Paul Graham argued Airbnb could become as big as eBay, focusing on accommodation market.
- Fred Wilson was initially skeptical, but his junior team was enthusiastic.
- The emails reveal investors' behind-the-scenes debates and gradual interest.
- Airbnb evolved from sofas to small hotels, proving its scalability.