ABNB 在过去 5 到 6 年间股价没有带来任何增值，但它是一家成功的企业，拥有超过 100 亿美元现金，去年现金流达 40 亿美元。AI 以及最终 AGI 推理可能为其带来长期竞争优势和新的业务线；品类扩张值得关注。
逐段跳播
第二家公司，我们以前听说过。我们都认识它。我们可能作为房客或房东从中受益过，这家公司就是 Airbnb，其交易代码是 ABNB。
The second company, we have heard of it before. We all know her. We may have benefited from it as guests or as hosts , and this company is Airbnb, and its trading symbol is ABNB.
我事先就知道，如果你就是那个要在评论区留言说“Airbnb，哦，你一定是在开玩笑吧”的人。大约6个月前我推荐 Intel 时，也有人这么说过，而自那以来其股价已经翻了一倍多。所以，我的朋友，一切都摆在明面上了。我们在评论区里乐一乐吧。
I know in advance, if you're the one who's going to land in the comments section to say, " Airbnb, oh, you must be kidding me." Someone said that about Intel when I recommended it about 6 months ago, and since then the stock price has more than doubled.
So, my friend, it's all out in the open . Let's have fun in the comments section.
我理解 Airbnb 的股东可能会感到一些沮丧。公司把股票公开上市，五六年之后，这只股票没有为股东增加任何价值。但这并不意味着它作为一家企业不成功。他们的短期房屋和房间租赁业务产生了资本，如今资产负债表上有超过100亿美元现金。
想象一下，你作为 CEO 去上班，然后说：“哈！100亿美元，我们拿它干什么？”那么，他们去年拿它干了什么？他们当年产生了40亿美元现金流。所以，这是巨大的财务实力。
I understand that Airbnb shareholders may feel some frustration. The company put its shares up for public subscription, and after 5 or 6 years, the stock had not added any value to shareholders.
But that doesn't mean it wasn't successful as a business . Their short-term home and room rental business has generated capital, and they now have over $10 billion in cash on their balance sheet .
Imagine going to work as a CEO and saying, "Ha! $10 billion, what are we going to do with it?" Well, what did they do with it last year? They generated $4 billion in cash flow during the year. So, this is enormous financial power.
现在，通过领导团队致力于在业务中发展人工智能，尽管他们并不认为 Airbnb 是一家高科技公司，但他们正非常快地意识到人工智能带来的效率和生产力提升。而当这开始转向通用人工智能，并且你确实有推理模型在像 Airbnb 这样付费开发该技术的任何公司内部运行时，这可以创造显著的长期竞争优势，而这种优势可能会在 Airbnb 开拓新业务线时体现出来。
关注这项业务活动扩展到新品类中的潜力。他们拥有全部财务资源，而且他们有一位年轻、持有公司大量股份的领导层。
Now, through the leadership team's commitment to developing artificial intelligence within their business, and although they do not consider Airbnb to be a high-tech company , they are very quickly realizing the efficiency and productivity they gain from artificial intelligence.
And when that starts to shift into artificial general intelligence, and you actually have inference models working within any company that pays to develop the technology as Airbnb does, that can create a significant long-term competitive advantage, and that advantage may show for Airbnb in developing new lines of business .
Monitor the potential for this business activity to expand into new categories. They have all the financial resources, and they have a young leadership that owns a large stake in the company.
再说一次，我理解股东在这个阶段为什么沮丧，但有些公司可能会沉寂多年，之后才变成巨大、高盈利的投资。
Again, I understand why shareholders are frustrated at this stage, but there are some companies that may remain dormant for years before they turn into huge, highly profitable investments.
如你所知，我们一直在这里反复说这些数字：“哦，Airbnb 资产负债表上有100亿美元。而且他们去年产生了40亿美元现金流。”
As you know, we've been circulating numbers here like, "Oh, Airbnb has $10 billion on its balance sheet. And they made $4 billion in cash flow last year."
这个频道对 $ABNB 的历次判断
The Motley Fool 在这只股票上共 2 条判断，这里只列相邻的几条。