Airbnb: Room To Breathe

<p>From &#8220;<strong><a href="https://thescienceofhitting.com/p/im-not-happy-about-our-growth-rate">I&#8217;m Not Happy About Our Growth</a></strong>&#8221; (December 2025):</p><p>&#8220;I see a few long-term opportunities that will help Airbnb to achieve the growth required to justify its mid-20&#8217;s EV/EBIT multiple [at ~$117 per share]&#8230; With that said, I also get the sense management is navigating the public market challenge of focusing on the long-term while living in the short-term [slowing revenue growth and EBITDA margin pressure from certain investments].&#8221;</p>
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