Warren Buffett just dropping his annual Saturday morning knowledge in the form of an annual letter to Berkshire Hathaway shareholders.
And he’s also giving major love to one of the hottest startups in the world: Airbnb.
For an investor who has traditionally shunned new technology plays, it is a surprise to hear Buffett talking this way.
Buffett — ever the penny-pinching CEO — extolled Airbnb for attendees of his annual conference, taking place this later this year in Omaha. Airbnb is also reportedly in the midst of raising a fresh round of capital that will value the home rental startup at nearly $US20 billion, according to TechCrunch.
Here’s what he had to say:
“We get terrific help at meeting time from literally thousands of Omaha residents and businesses who want you to enjoy yourselves. This year, because we expect record attendance, we have worried about a shortage of hotel rooms. To deal with that possible problem, Airbnb is making a special effort to obtain listings for the period around meeting time and is likely to have a wide array of accommodations to offer. Airbnb’s services may be especially helpful to shareholders who expect to spend only a single night in Omaha and are aware that last year a few hotels required guests to pay for a minimum of three nights. Those people on a tight budget should check the Airbnb website.”
Here’s a look at Airbnb’s offerings in Omaha. There are a few hundred rooms available, at as little as $US30 a night, right now. That’s a big discount compared to what hotel chains in Omaha charge during his big conference: