MemGPT/example-sec-filings · Datasets at Hugging Face

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•there have been shootings, fatalities, and other criminal or violent
acts on properties booked on our platform, including as a result of
unsanctioned house parties;

•there have been incidents of sexual violence against Hosts, guests, and
third parties, and we have seen higher incident rates of such conduct
associated with private room and shared space listings;

•there have been undisclosed and hidden cameras at properties; and

•there have been incidents of Hosts and guests engaging in criminal,
fraudulent, or unsafe behavior and other misconduct while using our
platform.

The methods used by perpetrators of fraud and other misconduct are
complex and constantly evolving, and our trust and security measures
have been, and may currently or in the future be, insufficient to detect
and help prevent all fraudulent activity and other misconduct; for
example:

•there have been incidents where Hosts have misrepresented the quality
and location or existence of their properties, in some instances to send
guests to different and inferior properties;

•there have been incidents where guests have caused substantial property
damage to listings or misrepresented the purpose of their stay and used
listings for unauthorized or inappropriate conduct including parties,
sex work, drug-related activities, or to perpetrate criminal activities;

•there have been instances where users with connected or duplicate
accounts have circumvented or manipulated our systems, in an effort to
evade account restrictions, create false reviews, or engage in fraud or
other misconduct;

•there have been incidents where fraudsters have created fake guest
accounts, fake Host accounts, or both, to perpetrate financial fraud;
and

•situations have occurred where Hosts or guests mistakenly or
unintentionally provide malicious third parties access to their
accounts, which has allowed those third parties to take advantage of our
Hosts and guests.

In addition, certain regions where we operate have higher rates of
violent crime or varying safety requirements, which can lead to more
safety and security incidents, and may adversely impact the adoption of
our platform in those regions and elsewhere.

If criminal, inappropriate, fraudulent, or other negative incidents
continue to occur due to the conduct of Hosts, guests, or third parties,
our ability to attract and retain Hosts and guests would be harmed, and
our business, results of operations, and financial condition would be
materially adversely affected. Such incidents have prompted, and may in
the future prompt, stricter home sharing regulations or regulatory
inquiries into our platform policies and business practices. In the
United States and other countries, we have seen listings being used for
parties in violation of Airbnb' policies which have in some cases
resulted in neighborhood disruption or violence. Further, claims have
been asserted against us from our Hosts, guests, and third parties for
compensation due to fatalities, accidents, injuries, assaults, theft,
property damage, data privacy and data security issues, fraudulent
listings, and other incidents that are caused by other Hosts, guests, or
third parties while using our platform. These claims subject us to
potentially significant liability and increase our operating costs and
could materially adversely affect our business, results of operations,
and financial condition. We have obtained some third-party insurance,
which is subject to certain conditions and exclusions, for claims and
losses incurred based on incidents related to bookings on our platform.
Our third-party insurance, which may or may not be applicable to all
claims, may be inadequate to fully cover alleged claims of liability,
investigation costs, defense costs, and/or payouts. Even if these claims
do not result in liability, we could incur significant time and cost
investigating and defending against them. As we expand our offerings and
tiers, or if the quantity or severity of incidents increases, our
insurance rates and our financial exposure will grow, which would
materially adversely affect our business, results of operations, and
financial condition.

19

*Measures that we are taking to improve the trust and safety of our
platform may cause us to incur significant expenditures and may not be
successful.*

We have taken and continue to take measures to improve the trust and
safety on our platform, combat fraudulent activities and other
misconduct and improve community trust, such as requiring identity and
other information from Hosts and guests, attempting to confirm the
location of listings, removing suspected fraudulent listings or listings
repeatedly reported by guests to be significantly not as described, and
removing Hosts and guests who fail to comply with our policies. These
measures are long-term investments in our business and the trust and
safety of our community. However, some of these measures increase
friction on our platform by increasing the number of steps required to
list or book, which reduces Host and guest activity on our platform, and
could materially adversely affect our business. Implementing the trust
and safety initiatives we have announced, which include limited
verification of Hosts and listings, restrictions on "arty"houses,
restrictions on certain types of bookings, and our neighbor hotline, or

•there have been shootings, fatalities, and other criminal or violent

acts on properties booked on our platform, including as a result of

unsanctioned house parties;

•there have been incidents of sexual violence against Hosts, guests, and

third parties, and we have seen higher incident rates of such conduct

associated with private room and shared space listings;

•there have been undisclosed and hidden cameras at properties; and

•there have been incidents of Hosts and guests engaging in criminal,

fraudulent, or unsafe behavior and other misconduct while using our

platform.

The methods used by perpetrators of fraud and other misconduct are

complex and constantly evolving, and our trust and security measures

have been, and may currently or in the future be, insufficient to detect

and help prevent all fraudulent activity and other misconduct; for

example:

•there have been incidents where Hosts have misrepresented the quality

and location or existence of their properties, in some instances to send

guests to different and inferior properties;

•there have been incidents where guests have caused substantial property

damage to listings or misrepresented the purpose of their stay and used

listings for unauthorized or inappropriate conduct including parties,

sex work, drug-related activities, or to perpetrate criminal activities;

•there have been instances where users with connected or duplicate

accounts have circumvented or manipulated our systems, in an effort to

evade account restrictions, create false reviews, or engage in fraud or

other misconduct;

•there have been incidents where fraudsters have created fake guest

accounts, fake Host accounts, or both, to perpetrate financial fraud;

and

•situations have occurred where Hosts or guests mistakenly or

unintentionally provide malicious third parties access to their

accounts, which has allowed those third parties to take advantage of our

Hosts and guests.

In addition, certain regions where we operate have higher rates of

violent crime or varying safety requirements, which can lead to more

safety and security incidents, and may adversely impact the adoption of

our platform in those regions and elsewhere.

If criminal, inappropriate, fraudulent, or other negative incidents

continue to occur due to the conduct of Hosts, guests, or third parties,

our ability to attract and retain Hosts and guests would be harmed, and

our business, results of operations, and financial condition would be

materially adversely affected. Such incidents have prompted, and may in

the future prompt, stricter home sharing regulations or regulatory

inquiries into our platform policies and business practices. In the

United States and other countries, we have seen listings being used for

parties in violation of Airbnb' policies which have in some cases

resulted in neighborhood disruption or violence. Further, claims have

been asserted against us from our Hosts, guests, and third parties for

compensation due to fatalities, accidents, injuries, assaults, theft,

property damage, data privacy and data security issues, fraudulent

listings, and other incidents that are caused by other Hosts, guests, or

third parties while using our platform. These claims subject us to

potentially significant liability and increase our operating costs and

could materially adversely affect our business, results of operations,

and financial condition. We have obtained some third-party insurance,

which is subject to certain conditions and exclusions, for claims and

losses incurred based on incidents related to bookings on our platform.

Our third-party insurance, which may or may not be applicable to all

claims, may be inadequate to fully cover alleged claims of liability,

investigation costs, defense costs, and/or payouts. Even if these claims

do not result in liability, we could incur significant time and cost

investigating and defending against them. As we expand our offerings and

tiers, or if the quantity or severity of incidents increases, our

insurance rates and our financial exposure will grow, which would

materially adversely affect our business, results of operations, and

financial condition.

19

*Measures that we are taking to improve the trust and safety of our

platform may cause us to incur significant expenditures and may not be

successful.*

We have taken and continue to take measures to improve the trust and

safety on our platform, combat fraudulent activities and other

misconduct and improve community trust, such as requiring identity and

other information from Hosts and guests, attempting to confirm the

location of listings, removing suspected fraudulent listings or listings

repeatedly reported by guests to be significantly not as described, and

removing Hosts and guests who fail to comply with our policies. These

measures are long-term investments in our business and the trust and

safety of our community. However, some of these measures increase

friction on our platform by increasing the number of steps required to

list or book, which reduces Host and guest activity on our platform, and

could materially adversely affect our business. Implementing the trust

and safety initiatives we have announced, which include limited

verification of Hosts and listings, restrictions on "arty"houses,

restrictions on certain types of bookings, and our neighbor hotline, or