Airbnb founder Brian Chesky compares modern startup environment to 2008

Airbnb founder Chesky said that he understood the difficulties of starting up in the middle of an economic downturn, and it builds conviction if you survive.

Tuesday May 10, 2022 , 1 min Read

Brian Chesky, Founder and CEO of Airbnb, has posted reassurances for new startup founders who may feel like the market is against them, and that they missed their chance for funding after the global bull run since 2020 seems to be coming to an end.

Chesky, who founded Airbnb in August 2008 with Joe Gebbia and Nathan Blecharczyk, said that "this moment feels similar" to early days of the American housing crisis that sparked a global financial crisis.

This moment feels similar to late 2008 when we started Airbnb
— Brian Chesky (@bchesky) May 10, 2022

Speaking directly to the entrepreneurs at the beginning of their startup journey, Chesky said that he believes that this financial environment will force you to prove your conviction in your idea. He believes that many companies are started during tough financial times.

"Lots of important companies were started during down cycles. Your conviction will be tested. Those that survive will be stronger," tweeted Chesky.

Obv this is not exactly like 2008. But I remember when we started, it felt like we somehow missed the moment… but there’s always the next moment if what you’re building is important enough
— Brian Chesky (@bchesky) May 10, 2022

Reiterating what he said, Chesky said that there will always be another moment to raise funding and grow your business, as long as you believe in your startup.

Edited by Megha Reddy