Airbnb CEO Brian Chesky took to the stage in downtown Los Angeles on Tuesday, outlining an ambitious expansion for the company that aims to redefine how users interact with its platform, moving beyond accommodation to a comprehensive hub for travel and local activities.

The announcement centered on a new ‘Airbnb Services’ initiative and a significantly relaunched ‘Airbnb Experiences’.

Chesky began by reflecting on Airbnb’s origins 17 years ago, a time when the concept of staying in a stranger’s home was met with considerable doubt.

He recounted how, in 2008, seven investors famously rejected the nascent company, declining what would have become a 10% stake for $150,000.

Despite this early skepticism, Airbnb burgeoned into a globally recognized brand and a publicly-traded Fortune 500 company, now boasting an $84 billion market capitalization.

Drawing parallels to that foundational period, Chesky positioned the company’s latest move as another pioneering step, intended to broaden the very definition of “Airbnb-ing.”

He envisioned a future where users rely on the platform for a cohesive vacation experience, a marketplace for “unforgettable, once-in-a-lifetime moments.”

Examples cited included making pasta with a Roman chef, dancing with a K-pop star in Seoul, exploring Notre Dame with a restoration architect, or even wrestling with a luchador in Mexico City.

The company’s new tagline, “Now you can Airbnb more than an Airbnb,” encapsulates this broader ambition.

The idea is for users to initially book services like a massage while on vacation through Airbnb, and eventually extend this behavior to booking services such as makeup artists and hair stylists even when at home.

This positions Airbnb as an emerging ‘superapp’, aiming to encourage more real-world engagement.

“Somewhere along the way, something drifted, and we started spending more time looking at screens and less time in the real world,” Chesky told the audience.

Enthusiasm tempered with questions

The announcement, delivered with Chesky’s characteristic ‘founder mode’ energy, garnered a mixed reception.

Zynga founder Mark Pincus reportedly praised Chesky’s presentation as ‘Steve Jobs-esque’.

However, other observers expressed reservations about whether users would adopt Airbnb for daily, non-travel-related services and questioned the platform’s proposed marketplace pricing.

The strategic rationale behind the expansion touches upon addressing existing user needs and tapping into a significant market. If a drawback of Airbnb stays is the lack of hotel amenities, providing access to local services offers a direct solution.

The travel experiences market itself is a vast and fragmented industry.

McKinsey has estimated this global market to be worth over $1 trillion, currently dispersed among a few large online platforms and numerous smaller operators, indicating substantial room for consolidation.

This isn’t Airbnb’s first foray into the experiences sector; the current Airbnb Experiences offering is a relaunch of a previous initiative.

Airbnb Finance Chief Ellie Mertz explained the earlier version’s trajectory: “We launched Experiences many years ago,” Mertz said in an interview. “We started to scale it.

The pandemic hit, we put it on the back burner, and haven’t really done anything with it until this point.

Mertz detailed that the intervening “multi-year pause” allowed Airbnb to reimagine the Experiences product with more flexible pricing, enhanced vetting for quality control, and a redesigned app for easier discovery and booking.

“The current year is about launching,” she stated.

We want to get these products and services into our consumers’ hands… Our ambition is to drive these businesses such that they are on a standalone basis material contributors to our top line. What Brian and I have said in the past is the ambition is that we could build these businesses into billion dollar revenue streams over an order of magnitude, in a three-to-five-year period.

Generating such revenue—an additional billion dollars would be a notable contribution to Airbnb’s $11.1 billion revenue from last year—will require significant effort and investment in fostering new consumer habits.

‘Airbnb Originals’ and curated star power

To spearhead this push, Airbnb is launching ‘Airbnb Originals’—premium, curated experiences often involving celebrities.

Rapper Megan Thee Stallion, for example, was present at the launch event as Chesky highlighted an “Original” experience developed with her: a day spent with the star in a specially designed anime house.

The goal is to create deeply memorable, once-in-a-lifetime events.

The financial arrangements for these celebrity partnerships were not disclosed by Airbnb, though such collaborations are typically resource-intensive.

This highlights a potential challenge: integrating these high-touch, curated offerings into a business model traditionally built on the scale and decentralized nature of the sharing economy.

While the appeal of booking unique experiences or local services through a trusted platform like Airbnb is clear for consumers, the ability to curate and scale “singular, intimate experiences” globally while maintaining quality presents a complex operational hurdle.

Despite potential criticisms and the inherent difficulties in scaling “magic,” the company’s new direction mirrors the audacious, perhaps even “cock-eyed,” vision that initially propelled Airbnb from a questioned startup to an industry leader.

The early skepticism surrounding these new ventures might, in an ironic twist, signal another transformative phase for the company.

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Indian equity benchmarks, the Sensex and Nifty, commenced Thursday’s session on a weaker footing, succumbing to selling pressure in prominent blue-chip banking stocks and reflecting a subdued sentiment across broader Asian markets.

The initial downturn set a cautious tone for the day’s trading.

The 30-share BSE Sensex registered an early dip, falling 106.78 points to 81,223.78 shortly after the opening bell on May 15, 2025. Similarly, the NSE Nifty declined by 38.45 points to 24,628.45.

As the session progressed, the selling pressure intensified slightly, with the BSE benchmark later trading 247.22 points lower at 81,082.80, and the Nifty quoted 67.15 points down at 24,599.75.

Several heavyweight constituents from the Sensex pack contributed to the negative momentum.

Among the major laggards were Power Grid, IndusInd Bank, Axis Bank, Sun Pharma, Infosys, Mahindra & Mahindra, Kotak Mahindra Bank, and HDFC Bank.

However, not all stocks were in the red; Tata Motors, Adani Ports, Tata Steel, Tech Mahindra, and UltraTech Cement managed to buck the trend and post gains in the early hours.

Regional ripples and global undercurrents

The weakness in Indian equities mirrored trends observed across other Asian financial centers.

Major indices in the region, including South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index, and Hong Kong’s Hang Seng, were all reported to be trading lower.

This followed a mixed closing for US markets on Wednesday, May 14, 2025, indicating a degree of uncertainty in global investor sentiment.

Market analysts are interpreting the current price action as a potential sign of consolidation.

“The market appears to be heading for a near-term consolidation phase with the mid and smallcaps outperforming,” V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, told PTI.

He further suggested that a shift in foreign fund flows might be on the horizon: “The sustained robust FII buying which lifted the largecaps is likely to weaken in the new context of trade deal emerging between US and China.”

Adding to the broader market picture, global oil benchmark Brent crude experienced a notable drop, declining 2.10% to $64.70 a barrel, a factor that often influences sentiment in import-dependent economies like India.

FII activity and previous session recap

Despite the early weakness on Thursday, data from the exchanges indicated that Foreign Institutional Investors (FIIs) remained net buyers on the preceding day.

FIIs bought equities worth Rs 931.80 crore on Wednesday, May 14, 2025.

This inflow had contributed to a positive close for the Indian markets on Wednesday, with the BSE Sensex climbing 182.34 points or 0.22% to settle at 81,330.56, and the Nifty rising by 88.55 points or 0.36% to 24,666.90.

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European markets commenced Thursday’s trading session with a keen eye on the United Kingdom, where a surprisingly robust economic performance offered a momentary bright spot.

However, underlying caution prevailed as economists tempered enthusiasm with warnings of a potential slowdown later in the year, even as corporate earnings from giants like Siemens provided individual stock focus.

The United Kingdom’s economy delivered a notable upside surprise, expanding by 0.7% in the first quarter of 2025.

This figure, released by the Office for National Statistics (ONS) on Thursday, significantly outpaced the lackluster 0.1% growth seen in the fourth quarter of 2024 and exceeded economists’ expectations of a 0.6% rise, as polled by Reuters.

The ONS attributed this growth primarily to a “0.7% increase in the services sector,” with production also contributing positively by growing 1.1%, while the construction sector remained flat.

This stronger-than-expected data will undoubtedly be welcomed in Downing Street, particularly by Chancellor Rachel Reeves.

“Today’s growth figures show the strength and potential of the UK economy,” Reeves stated in emailed comments as per media reports.

“In the first three months of the year, the UK economy has grown faster than the US, Canada, France, Italy and Germany,” she added, highlighting a rare piece of positive economic news for the Labour government, which has been under pressure to stimulate growth after months of sluggish performance.

Reeves further remarked on the government’s actions: “Up against a backdrop of global uncertainty we are making the right choices now in the national interest. Since the election we have already had four interest rate cuts, signed two trade deals, saved British Steel and given a pay rise to millions by increasing the minimum wage,” she said.

Despite the cheer, economists suggest this economic vigor might be short-lived.

Many attribute the surge not to improved underlying fundamentals but to temporary factors, including businesses front-loading activity ahead of anticipated tariff implementations and tax changes.

Deutsche Bank Economist Sanjay Raja noted this week that any first-quarter jump is likely to be a temporary phenomenon.

“By all accounts, a surprisingly stronger end to 2024 combined with some strength in domestic spending and front-running of trade ahead of Liberation Day, will have led to a bigger jump to start the year,” he said in a research note, though Deutsche Bank believes “risks are skewed higher.”

Raja elaborated on the outlook: “The bump higher in activity will likely be short lived, however. We expect GDP growth to reverse in the second quarter of 2025, before slowly edging higher through the course of the year – and eventually returning to its trend growth rate in early 2026.”

Corporate spotlight: Siemens holds firm amidst uncertainty

In the corporate arena, industrial technology conglomerate Siemens AG provided an update alongside its second-quarter results.

The German giant reiterated its financial outlook for the year, maintaining its guidance despite acknowledging “increased uncertainty in the economic environment.”

Siemens reported robust second-quarter total sales of 19.8 billion euros ($22.19 billion), surpassing analyst expectations of 19.2 billion euros.

The company also delivered a net profit of 2.4 billion euros, comfortably beating forecasts of 1.85 billion euros.

RBC Capital Markets analyst Mark Fielding commented on the results in a note to clients, describing it as a “Largely inline report, with an unchanged [financial year] guide, and overall no big changes to the equity story – even if there are a few moving parts.”

However, Fielding also cautioned, “We do note recent share price strength could create some short term downside risk.”

Shares in Siemens AG have demonstrated strong performance, rising 19% year-to-date.

Global market murmurs: Asia dips, US futures weaken

The broader global market sentiment offered a mixed backdrop.

Asia-Pacific markets mostly declined overnight, pulling back after gains in the previous session that were fueled by easing US-China trade tensions.

Japan’s benchmark Nikkei 225 fell 0.90%, and the Topix lost 0.75%. South Korea’s Kospi saw a decline of 0.29%, while the small-cap Kosdaq slipped 0.37%.

Across the Atlantic, US S&P 500 futures also slipped in overnight trading.

This followed a period where the broad market index had strung together three consecutive advances, reacting positively to the Trump administration and China reaching a temporary suspension of their tit-for-tat tariff dispute.

Futures tied to the S&P 500 were down 0.2%, Nasdaq-100 futures lost about 0.1%, and Dow Jones Industrial Average futures fell 173 points, or 0.4%.

US traders are now keenly awaiting key economic indicators, including producer price index data, retail sales, and industrial production numbers for April, all scheduled for release before the stock market opens.

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Nissan Motor Co’s new chief executive, Ivan Espinosa, is confronting an increasingly grim business landscape, with the automaker facing falling sales, an ageing vehicle lineup, and mounting pressure from tariffs and rivals.

The Japanese automaker has seen its global sales plunge by 42% since its peak in 2017, and Espinosa, who took over the role last month, has set out a cost-cutting roadmap involving 11,000 job reductions and the closure of seven plants.

But analysts warn that these measures alone may not be enough to reverse its fortunes.

Sales volume to drop further, key markets’ outlook remains grim

Nissan said on Tuesday it expects sales volume to drop another 3% in the current fiscal year to 3.25 million vehicles.

The outlook for key markets remains subdued, with China forecast to decline by 18% and both North America and Japan expected to stay flat.

Espinosa aims to accelerate vehicle development timelines and concentrate on crossover and SUV models in the US, Nissan’s largest market.

A new plug-in hybrid version of the Rogue SUV, co-developed with Mitsubishi Motors, is set to launch this fiscal year.

Another variant with Nissan’s in-house e-Power hybrid system will follow in the next fiscal period.

However, analysts remain skeptical.

“They don’t have a hybrid lineup. Their BEVs are not particularly successful,” said Julie Boote of Pelham Smithers Associates in Reuters report.

“They will have to work on new model launches, but that takes time, and there’s no guarantee they will be more successful than before.”

Tariffs and shrinking margins add to pressure

Adding to the challenges is a fresh wave of US tariffs on imported cars and parts, which could cost Nissan an estimated 450 billion yen ($3.1 billion) this fiscal year.

The tariffs threaten to erode profit margins and force price hikes in an already competitive market.

Although US sales recovered to approximately 938,000 vehicles in the last business year, the gains were concentrated in low-margin models like the Mexico-built Sentra and Versa.

Despite higher volumes, Nissan’s North American operating margin fell to negative 0.5% from 4.6% a year earlier.

The company also faces pricing pressure from incentives used to move ageing models off dealer lots.

Meanwhile, competition is heating up, especially from Chinese electric vehicle makers like BYD and domestic rivals.

Suzuki, for instance, outsold Nissan in the first quarter of 2025, raising the prospect that it may overtake Nissan as Japan’s third-largest automaker behind Toyota and Honda by year-end.

Nissan stock lags peers as analysts turn bearish

The stock market has reflected investor unease over Nissan’s future.

The company’s shares have fallen 29% so far this year, making it the worst performer among major Japanese automakers.

By comparison, the benchmark Nikkei 225 index is down 5.5%.

Of the 18 analysts tracked by LSEG who cover Nissan, none currently recommend a “buy” or “strong buy.”

Nine analysts now rate the stock “sell” or “strong sell,” up from seven three months ago.

Espinosa assumed the top job following the departure of Makoto Uchida, under whom merger discussions with Honda fell through.

That proposed tie-up would have created the world’s fourth-largest automaker by volume, but talks collapsed earlier this year.

Legacy issues continue to haunt the company

Industry observers argue that Nissan is still grappling with the legacy of former chairman Carlos Ghosn, whose aggressive push for volume growth and reliance on discounting weakened the brand and left it with an outdated product portfolio.

Now, the firm must urgently rebuild its line-up and improve profitability while managing external shocks like tariffs.

“The question is: Will they have time to turn around the business while having to deal with higher input costs?” Boote said.

Espinosa’s challenge is not only to shrink the company to match lower sales volumes, but also to rebuild consumer trust and revitalize a brand that has lost its edge in key markets.

Whether the cost cuts and product strategy will be enough remains uncertain.

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