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| DealBook Conference Live Updates: Airbnb Plans to Verify Every Listing | DealBook Conference Live Updates: Airbnb Plans to Verify Every Listing |
| (32 minutes later) | |
| Airbnb plans to conduct a comprehensive review of every property listed on its platform, as part of a series of initiatives to give customers “peace of mind,” said Brian Chesky, the company’s chief executive. | Airbnb plans to conduct a comprehensive review of every property listed on its platform, as part of a series of initiatives to give customers “peace of mind,” said Brian Chesky, the company’s chief executive. |
| By the end of next year, Airbnb will have checked the accuracy of the photographs and addresses on each posting, as well as verified that listings meet safety standards and that the hosts are who they say they are, Mr. Chesky said. | |
| “We’re going to make sure we can stand behind every single listing, every single host,” he said. “We want to give peace of mind to our guests.” | “We’re going to make sure we can stand behind every single listing, every single host,” he said. “We want to give peace of mind to our guests.” |
| In addition, the company will guarantee refunds to guests who check in to an Airbnb that does not match the listing on the website, and establish a hotline to address concerns from neighbors. | In addition, the company will guarantee refunds to guests who check in to an Airbnb that does not match the listing on the website, and establish a hotline to address concerns from neighbors. |
| “About two million people a night stay in Airbnbs and most without incident,” he said. Still, he added, “It’s hard to prevent every bad thing happening.” | “About two million people a night stay in Airbnbs and most without incident,” he said. Still, he added, “It’s hard to prevent every bad thing happening.” |
| — David Yaffe-Bellany | — David Yaffe-Bellany |
| “Thank God we went public when we did,” said Dara Khosrowshahi, the chief executive of Uber, at the DealBook conference on Wednesday morning. | “Thank God we went public when we did,” said Dara Khosrowshahi, the chief executive of Uber, at the DealBook conference on Wednesday morning. |
| Uber, the most prominent tech company to go public in 2019, has gone through a dramatic transition in the past two years, from the founder’s ousting to its rocky initial public offering in May. | Uber, the most prominent tech company to go public in 2019, has gone through a dramatic transition in the past two years, from the founder’s ousting to its rocky initial public offering in May. |
| In recent months, Mr. Khosrowshahi has launched into a belt-tightening operation to cater to company investors’ appetite for a clearer path to profitability. Uber laid off more than 1,000 workers in three rounds of job cuts, removed top executives and saw board members leave. Under pressure to deliver profits, the company is on a “strong path” to execute its goals, Mr. Khosrowshahi said. | In recent months, Mr. Khosrowshahi has launched into a belt-tightening operation to cater to company investors’ appetite for a clearer path to profitability. Uber laid off more than 1,000 workers in three rounds of job cuts, removed top executives and saw board members leave. Under pressure to deliver profits, the company is on a “strong path” to execute its goals, Mr. Khosrowshahi said. |
| “Fundamentally, the ride-sharing business is upscale, is global, is an attractive business, and is only going to get better in a competitive market,” he said. | “Fundamentally, the ride-sharing business is upscale, is global, is an attractive business, and is only going to get better in a competitive market,” he said. |
| Wednesday represented a milestone in the arc of Uber’s story, as the company’s post-initial public offering lockup expired — meaning that shares held by early investors became eligible to trade on the market. | Wednesday represented a milestone in the arc of Uber’s story, as the company’s post-initial public offering lockup expired — meaning that shares held by early investors became eligible to trade on the market. |
| As Uber shares become available, and more risk-averse investors sell their stocks, Mr. Khosrowshahi said the company was “going to find alternative investors who believe in the story and believe in the numbers.” Asked about WeWork, the troubled office-space company that faced a remarkable implosion of its plans to go public in late September, Mr. Khosrowshahi said Uber’s business challenges were fundamentally different. | As Uber shares become available, and more risk-averse investors sell their stocks, Mr. Khosrowshahi said the company was “going to find alternative investors who believe in the story and believe in the numbers.” Asked about WeWork, the troubled office-space company that faced a remarkable implosion of its plans to go public in late September, Mr. Khosrowshahi said Uber’s business challenges were fundamentally different. |
| — Davey Alba | — Davey Alba |
| Mr. Khosrowshahi defended the company’s position that it would not reclassify its drivers as employees in light of a recently passed bill in California. | Mr. Khosrowshahi defended the company’s position that it would not reclassify its drivers as employees in light of a recently passed bill in California. |
| “92 percent of our drivers work less than forty hours a week,” he said. “I think this law is misguided and we’re going to fight it.” | “92 percent of our drivers work less than forty hours a week,” he said. “I think this law is misguided and we’re going to fight it.” |
| On Wednesday, Bloomberg reported that 96,000 drivers represented by the New York Taxi Workers Alliance sued Uber in federal court for not repaying taxes it deducted from drivers’ cut of fares. | On Wednesday, Bloomberg reported that 96,000 drivers represented by the New York Taxi Workers Alliance sued Uber in federal court for not repaying taxes it deducted from drivers’ cut of fares. |
| — Davey Alba | — Davey Alba |
| Dennis Muilenburg, Boeing’s chief executive, said that he has considered stepping down in the wake of two fatal accidents involving the company’s 737 Max jets. | Dennis Muilenburg, Boeing’s chief executive, said that he has considered stepping down in the wake of two fatal accidents involving the company’s 737 Max jets. |
| “I’ve thought about it,” Mr. Muilenburg said at the DealBook conference Wednesday morning, during a discussion about how he has handled the fallout from the crashes, which killed 346 people. Mr. Muilenburg said he decided to remain in his position because he feels responsible for getting the company through the crisis. | |
| “I don’t see running away from a challenge, resigning, as a solution,” Mr. Muilenburg said. “These two accidents, they happened on my watch on Boeing. And I feel obligated, I feel responsible to stay on.” | “I don’t see running away from a challenge, resigning, as a solution,” Mr. Muilenburg said. “These two accidents, they happened on my watch on Boeing. And I feel obligated, I feel responsible to stay on.” |
| Mr. Muilenburg said he decided to give up “tens of millions of dollars” in bonus and stock pay until the plane is flying again after meeting with families of victims of the crashes. | Mr. Muilenburg said he decided to give up “tens of millions of dollars” in bonus and stock pay until the plane is flying again after meeting with families of victims of the crashes. |
| “I felt it was important for me to forgo those bonuses and send a message of responsibility,” Mr. Muilenburg said. During recent Congressional hearings, lawmakers assailed Mr. Muilenburg for not taking a pay cut since the accidents. | “I felt it was important for me to forgo those bonuses and send a message of responsibility,” Mr. Muilenburg said. During recent Congressional hearings, lawmakers assailed Mr. Muilenburg for not taking a pay cut since the accidents. |
| When asked why the company believed the plane was safe to fly even though employees had voiced concerns, Mr. Muilenburg said that he would have responded to the first crash differently “if back then we knew everything that we know now.” | When asked why the company believed the plane was safe to fly even though employees had voiced concerns, Mr. Muilenburg said that he would have responded to the first crash differently “if back then we knew everything that we know now.” |
| “We tried at every step to make the best decisions based on the data we had,” Mr. Muilenburg said. “But we could have done better.” | “We tried at every step to make the best decisions based on the data we had,” Mr. Muilenburg said. “But we could have done better.” |
| — Natalie Kitroeff | — Natalie Kitroeff |
| Makan Delrahim, the chief of the Justice Department’s antitrust division, said that reining in America’s technology giants should be left to the nation’s federal competition officials rather than beefed-up regulation. | Makan Delrahim, the chief of the Justice Department’s antitrust division, said that reining in America’s technology giants should be left to the nation’s federal competition officials rather than beefed-up regulation. |
| Other countries, including Australia and Britain, have either set up or are creating regulatory agencies focused on digital markets, as a way to respond more quickly to allegations of anticompetitive practices and other abuses by these companies. | Other countries, including Australia and Britain, have either set up or are creating regulatory agencies focused on digital markets, as a way to respond more quickly to allegations of anticompetitive practices and other abuses by these companies. |
| Congress is also looking at creating a new digital authority or significantly expanding the powers of the Federal Trade Commission to regulate the big companies. | Congress is also looking at creating a new digital authority or significantly expanding the powers of the Federal Trade Commission to regulate the big companies. |
| “I hope we don’t go there,” Mr. Delrahim said. Vigorous antitrust enforcement alone should be enough, he added. | “I hope we don’t go there,” Mr. Delrahim said. Vigorous antitrust enforcement alone should be enough, he added. |
| Antitrust laws, dating back a century, he said, should be nimble and flexible enough to cope with competition issues in today’s fast-moving digital markets. | Antitrust laws, dating back a century, he said, should be nimble and flexible enough to cope with competition issues in today’s fast-moving digital markets. |
| — Steve Lohr | — Steve Lohr |
| Communicating with employees is a bit like building your savings in a bank account, said Alex Gorsky, the chief executive of Johnson & Johnson: you make contributions over time and you develop a reservoir of trust, because “someday you’re likely going to need to make a withdrawal.” | Communicating with employees is a bit like building your savings in a bank account, said Alex Gorsky, the chief executive of Johnson & Johnson: you make contributions over time and you develop a reservoir of trust, because “someday you’re likely going to need to make a withdrawal.” |
| The topic of trust came up repeatedly as Mr. Gorsky spoke with Andrew Ross Sorkin at the DealBook conference in New York today. The 133-year-old Johnson & Johnson brand is under pressure as the company faces more than 100,000 lawsuits over the safety and marketing of products like opioids, transvaginal pelvic mesh implants and the antipsychotic drug Risperdal. More than 15,000 people have sued the company over its talc products, and 33,000 bottles of its baby powder were recently recalled over concerns about asbestos contamination. | The topic of trust came up repeatedly as Mr. Gorsky spoke with Andrew Ross Sorkin at the DealBook conference in New York today. The 133-year-old Johnson & Johnson brand is under pressure as the company faces more than 100,000 lawsuits over the safety and marketing of products like opioids, transvaginal pelvic mesh implants and the antipsychotic drug Risperdal. More than 15,000 people have sued the company over its talc products, and 33,000 bottles of its baby powder were recently recalled over concerns about asbestos contamination. |
| Mr. Gorsky has frequently stressed the safety of Johnson & Johnson’s baby powder. On Wednesday, he said that in some cases, “it’s important to take a stand.” | Mr. Gorsky has frequently stressed the safety of Johnson & Johnson’s baby powder. On Wednesday, he said that in some cases, “it’s important to take a stand.” |
| “When you find yourself in a situation where perhaps your products didn’t live up to the expectations, then you need to manage that, you need to deal with it in a way that’s appropriate for all stakeholders, and I think we’ve got a track record of trying to do our very best in those circumstances,” he said. “But there are other cases where, frankly, the data, the science or the headline doesn’t reflect the underlying reality.” | “When you find yourself in a situation where perhaps your products didn’t live up to the expectations, then you need to manage that, you need to deal with it in a way that’s appropriate for all stakeholders, and I think we’ve got a track record of trying to do our very best in those circumstances,” he said. “But there are other cases where, frankly, the data, the science or the headline doesn’t reflect the underlying reality.” |
| — Tiffany Hsu | — Tiffany Hsu |
| 3:20 p.m.: The Currency of Trust. David Marcus, the head of Facebook’s Calibra. | 3:20 p.m.: The Currency of Trust. David Marcus, the head of Facebook’s Calibra. |
| 3:45 p.m.: Bill Gates One-on-One. Bill Gates, co-chairman of Bill & Melinda Gates Foundation. | 3:45 p.m.: Bill Gates One-on-One. Bill Gates, co-chairman of Bill & Melinda Gates Foundation. |
| 4:35 p.m.: The Tastemaker. Gwyneth Paltrow, founder and chief executive of Goop. | 4:35 p.m.: The Tastemaker. Gwyneth Paltrow, founder and chief executive of Goop. |
| 5 p.m.: Season One: The Streaming Wars. Reed Hastings, founder and chief executive of Netflix. | 5 p.m.: Season One: The Streaming Wars. Reed Hastings, founder and chief executive of Netflix. |
| 5:30 p.m.: Hillary Clinton in Conversation. Hillary Clinton, former first lady, senator, secretary of state and presidential candidate. | 5:30 p.m.: Hillary Clinton in Conversation. Hillary Clinton, former first lady, senator, secretary of state and presidential candidate. |