How Boxes of Cereal Led to the Creation of Airbnb

The transcript details the early days of Airbnb, starting with the founders' initial idea, which was met with skepticism. They first experimented by turning their home into a bed and breakfast during a design conference. To fund their startup, they sold collectible cereal boxes themed around the 2008 presidential candidates. Despite initial struggles, they joined Y Combinator, which helped them grow during the Great Recession as people sought affordable travel options and ways to save money. The combination of economic conditions and growing social media comfort contributed to Airbnb's eventual success.

What was the initial reaction to the idea of Airbnb?

• It was considered a terrible idea.

• It was widely praised as innovative.

• It was ignored by everyone.

• It was immediately funded by investors.

How did the founders initially fund their company?

• By selling shares in the company.

• Through a bank loan.

• By selling collectible breakfast cereals.

• With a grant from the government.

What was the theme of the collectible cereals sold by the founders?

• Famous landmarks.

• Classic movies.

• Popular TV shows.

• 2008 presidential candidates.

What was a significant factor that helped Airbnb grow during the recession?

• The founders won a startup competition.

• People were looking for ways to save money.

• The company partnered with a hotel chain.

• The company received a large investment.

Why did Paul Graham eventually decide to let Airbnb join Y Combinator?

• He was a personal friend of the founders.

• He loved the initial idea.

• He was convinced by their business plan.

• He was impressed by their cereal sales.