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Think of Airbnb. In France last year, Airbnb drove $650

million worth of bookings. Their model roughly gives them

$65 million in commission.

Behind Airbnb, there s a 6.5 billion economy, just in France:

Entertainment, food, lodging, clothing, services, anything

you can think of. And what is Airbnb s move today? They ve

asked themselves, How can I capture this ecosystem,

how can I capture value here? And so they ve used their

platform model to create Airbnb Trips, where customers

can now book experiences in addition to accommodations.

Through that platform, they re growing and expanding into

adjacent categories. When we were operating in a traditional

economy, doing that seemed like a giant leap; It was

something very complicated to do. Now, doing that is very

simple. And this is a fundamental shift in the way businesses