Airbnb and Booking Holdings Develop Separate AI Ventures to Hedge Core Business Risks Amid Industry Changes
📊 In October 2023, Bloomberg reported that Brian Chesky started a separate AI venture outside Airbnb while remaining CEO. Booking Holdings, after a $457 million Kayak writedown, formed a separate AI entity named Lola. Both companies hedge against potential AI shifts without affecting core businesses. The $457 million writedown relates to Google's AI-driven search changes, impacting Booking's Kayak model. These ventures allow flexibility without risking existing operations, echoing Apple's cautious approach with its generative overhaul of Siri.
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