Prominent investor Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management on Tuesday criticized Airbnb Inc. ABNB following his experience during the Palisades fire, declaring he will “never use Airbnb again.”
What Happened: In a social media post, Gerber contrasted his positive hotel experience with what he perceives as Airbnb’s poor customer support.
“I was a bit sad to leave our home at the hotel as they were so good to us. The staff and hotel was amazing,” Gerber wrote. “Unlike Airbnb – when things go bad, the hotels are there for you while the hosts all try to screw you.”
What Happened: The critique comes as Gerber and his family recover from the devastating Palisades fire, with the investor noting he was among the first families to return home after eight weeks. “Palisades fire week 8. I’m back home!” he shared, highlighting the emotional journey of rebuilding.
In a recent initiative, Airbnb co-founder Joe Gebbia is investing $15 million in prefabricated homes for Los Angeles fire victims through his company Samara. The project aims to provide 40-50 fire-resistant homes to lower-income residents in Pacific Palisades and Altadena neighborhoods.
The company currently trades at a 40% premium compared to industry peers, with a forward price-to-earnings ratio of 32.362.
Analysts maintain a consensus price target of $145.87, suggesting an 18.23% potential upside.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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