Our previous company focused on pricing strategies for car sharing, and we decided to replicate that success in the car rental market, which is outdated.

Scaling negative margin businesses, like those seen in ride-sharing, has become more challenging due to rising interest rates and investor reluctance to fund such models.

Starting a business with low margins creates a negative feedback loop, making it harder to raise funds and sustain operations, as seen with FlightCar's struggles during its early days.

The automotive industry is evolving, and we need to adapt to the changing landscape, especially with the rise of intelligent machines.

The automotive industry is evolving, and we need to adapt to the changing landscape, especially with the rise of intelligent machines.

In industries with extreme competition, like the airline industry, where products are essentially commodities, margins can be driven down to unsustainable levels, leading to a brutal business environment.

The automotive industry in China is highly competitive, with numerous companies innovating rapidly, driven by government consolidation efforts.

Airbnb operates as a technology company, facing challenges like international regulations, safety, and trust, while also needing to provide a world-class user experience.

The worst revenue increase we experienced was 5%, while the best was a sixfold increase in a specific luxury car rental case.