Airbnb grew rapidly, serving 9 million guests in 5 years, while starting a successful startup requires hard work and dedication, as shown by the speaker's journey.
Airbnb experienced hockey stick growth in their first year and continued to grow exponentially, servicing their first four million guests in four years and an additional five million in the last nine months alone.
Starting a successful startup is like training for the Olympics, it takes hard work, dedication, and multiple attempts, as demonstrated by the speaker's journey of starting programming at 12 and publishing work on the internet at 14.
Someone offered to pay $1,000 for a program, which led to a successful business that paid for the speaker's tuition.
Airbnb started as a search engine for rooms, but shifted to handling payments upfront and making it as easy to book someone's home as a hotel; Socialcam founders faced challenges in showing progress to angel investors.
Airbnb was launched in 2008 for South by Southwest as a search engine and classifieds for rooms, with about 12 people putting up properties and Brian having a great experience staying in one.
The host's hospitality wore off when Brian forgot to bring the money, leading to the idea of handling payments upfront to focus on hospitality upon arrival.
The new vision was to make it as easy to book someone's home as a hotel with a motto of three clicks to book it.
Michael, CEO of justin.tv, offered to introduce Socialcam founders to angel investors but required them to make progress and show results before doing so, leading to weekly progress updates and a difficult time for the founders.
Starting a company can be tough with slow progress and miscommunication, facing rejection from investors, and struggling to find a solution for the lack of hotel rooms during the Democratic National Convention.
Starting a company can be stressful and partnerships may not always be smooth sailing, as seen in the example of a co-founder's slow progress and miscommunication.
The speaker's team pitches to angel investors, but faces rejection and vague responses until they improve their presentation.
The speaker and his team adjust their revenue projections for a pitch to investors, but ultimately put fundraising on hold due to lack of interest.
The Democratic National Convention in Denver will be held at a stadium with 80,000 capacity but only 17,000 hotel rooms are available, motivating the need for a new solution.
A startup hustled to list 800 properties for booking, gained attention, but faced a trough of sorrow before being called "cockroaches" by PG for their determination.
They had three months to create a platform for booking properties, hustled to get 800 properties listed, and locals used it to make extra money.
A startup gains a lot of attention and clicks after offering 800 available properties for a historic event, but the hype dies down quickly and they are back to square one.
The trough of sorrow is a demoralizing period where hard work seems to be irrelevant, and during the financial crisis, it seemed like the end of the road, but before quitting, giving it a hundred percent is necessary.
PG didn't like their idea during the interview, but he was impressed by their determination and perseverance, calling them "cockroaches" - people who will never give up.