Astrascalla - Radical Innovation



Why Airbnb Will Take Over The World With Remote Work


Lately, we have increasingly been feeling that Airbnb is in an ideal position to leverage the future of how we work.


This is why Astrascalla will be building a position in Airbnb’s stock in the next coming months.


What follows is our investment thesis, backed by three different arguments which we think will come true in the next 2 decades:


1. full remote work is inevitable given the popularity of English and the advantages for both employees and employers of working remotely

2. transportation will get better and better

3. the rise of web3 will make salaries paid in crypto the norm



english


Ask anyone what the internet’s language is, and they will answer you that it’s English.


Most of the activity on the internet is done using English, and it’s becoming more and more a necessity to speak English if your job requires even just a slight use of the internet.


And not just your job, also online education which is a very strong incentive to learn a language.


This is already something which happened in the past with the arrival of the printing press.


People were strongly incentivized to learn the most popular national language at that time as all the books were published in that language.


This is because it was more profitable for publishers (as opposed to publishing books in all the dialects which existed at the time) to do so.


This led to the rise of French, Spanish, Italian…


And the same is now happening with English where eventually most of the education available online will be in English, which will form a very strong incentive to learn it.



remote work


For employees, remote work enables way more freedom and not having to commute every day to work.


On top of that, it enables employees to work for any company in the world, without being limited to the local opportunities.


For employers, remote work means they can hire the best of the best anywhere on the planet, without being limited by the local pool of “talent”.


Remote work will also kill worker unions as it’s very difficult to unite against someone if you don’t know the other people you have to unite with.


It is possible using a DAO, but it will be very difficult.


Especially when the employer can just hire someone else anywhere on Earth, and there will always be someone.


On top of being able to hire top talent and the death of worker unions, remote work enables cheaper employment (as you can hire a software engineer without having them to be in an expensive place like San Francisco).


Finally, employers don’t have to pay for office buildings, car leasing and maintenance employees anymore as everyone works in remote.


And this is without mentioning how easier remote work makes it for companies to be based in tax heavens.


OK, so now that we have established that full remote work is basically inevitable, let’s talk about transport.



transport


Not much has changed for transport in the past 4 decades, we are probably even slower than we were before 2001.


Some like Peter Thiel even talk about stagnation.


You have to arrive 2 - 3 hours before taking a plane for security checks, trains and cars aren’t really faster than they were before…


But this is fortunately changing. Soon, we will have self-driving cars thanks to Tesla, supersonic commercial planes thanks to Boom Supersonic and ultra-rapid trains thanks to Elon Musk’s Hyperloop.


Now we have established that transportation systems will soon get infinitely better, let’s talk about crypto.



crypto


The most basic use case for crypto is payments. It’s so simple, and it works incredibly well.


The thing about crypto payments is that unlike banks which tend to be very national, crypto is international (and may eventually become interplanetary!).


Where you live or who you are really doesn’t matter, making crypto ideal for cross-border payments.


A consequence of that is the fact that it will become incredibly easy for employers to pay you no matter where you are.


In fact, it’s likely that some employers will even adopt crypto just to be able to handle the payroll of their international workforce.


This is without mentioning the speed of blockchain transactions, the lack of third parties these require, and the possible use companies can make of their funds in the DeFi ecosystem.


Cross-border wire transfers are also notoriously expensive, something which won’t be the case with a scalable crypto payroll solution.


Finally, on-chain payroll gives anybody timeless proof that the payment did in fact take place without requiring any kind of administration.



where the world is going


OK, so let’s recap:


1. we know the world will eventually go full remote for internet workers

2. we know transportation systems are getting better and better

3. we know salaries will eventually be fully paid in crypto

The consequence caused by the above three points are that eventually internet worker will work remotely, and will be able to do so from pretty much anywhere in the world.


There won’t be any barriers for remote work anymore.


Let’s assume we are in 2030 and you are an internet worker, why wouldn’t you work in remote from the best places to live in on Earth?


Smart individuals like Pieter Levels have already figured this out with communities like NomadList grouping thousands of nomad remote workers.


How will all these new nomads have a home to sleep in when enjoying their life working in remote from all these places on our planet?


You guessed it, Brian Chesky’s Airbnb will help them.



conclusion


Airbnb will not only become the platform (which it already is) you use when going on vacation somewhere, it will also become the platform you use when deciding where you go next in your nomad life.


It will maybe eventually even become the platform you use to actually travel to that place.


Finally, as Ryan Hoover correctly mentions: “Airbnb isn’t just a travel service. It’s eating into rent and potentially home ownership.”



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