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

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other initiatives, has caused and will continue to cause us to incur
significant ongoing expenses and may result in fewer listings and
bookings or reduced Host and guest retention, which could also
materially adversely affect our business. As we operate a global
platform, the timing and implementation of these measures will vary
across geographies and may be restricted by local law requirements. We
have invested and plan to continue to invest significantly in the trust
and safety of our platform, but there can be no assurances that these
measures will be successful, significantly reduce criminal or fraudulent
activity on or off our platform, or be sufficient to protect our
reputation in the event of such activity.

Furthermore, we have established community standards, but those
standards may not always be effectively enforced, communicated to, or
consistently understood by all parts of our community. For example,
while we require and communicate to Hosts and guests to make certain
commitments with respect to diversity and belonging when they join
Airbnb, these standards and requirements are not always well understood
by all parts of our community. As a result, Hosts and guests may be
surprised or disappointed when their expectations are not met.

*Growing focus on evolving environmental, social, and governance issues
("SG" by shareholders, customers, regulators, politicians, employees,
and other stakeholders may impose additional risks and costs on our
business.*

ESG matters have become an area of growing and evolving focus among our
shareholders and other stakeholders, including among customers,
employees, regulators, politicians, and the general public in the United
States and abroad. In particular, companies, including Airbnb, face
heightened expectations with respect to their practices, disclosures,
and performance in relation to climate change, diversity, equity and
inclusion, human rights, energy and water consumption, human capital
management, data privacy and security, and supply chains (including
human rights issues), among other topics.

We are committed to maintaining strong relationships with all of our key
stakeholders, including our Hosts, guests, the communities within which
we operate in, employees, and shareholders and we have taken and
continue to take steps to serve each of our stakeholder groups. We also
endeavor to maintain productive relationships with regulators and other
constituencies with whom we engage. Notwithstanding our commitments to
stakeholders and intentions with respect to other constituencies, if we
fail to meet evolving investor, regulator, and other stakeholder
expectations on ESG matters, if we are perceived not to have responded
appropriately or in a timely manner to ESG issues that are material, or
perceived to be material, to our business (including failing to pursue
or achieve our stated goals, targets and objectives within the timelines
we announce, failing to satisfy reporting and disclosure expectations or
requirements, or if there are real or perceived inaccuracies in the data
and information we report), if we fail to accurately report ESG-related
data, or if we fail to fully understand, reflect, disclose, mitigate or
manage risks associated with environmental or social matters, we may
experience harm to our brand and reputation, adverse press coverage, a
reduction in our attractiveness as an investment, greater regulatory
scrutiny and potential legal claims, greater difficulties in attracting
and retaining customers and talent, increased costs associated with our
legal compliance, insurance, or access to capital, and as a consequence,
our business, results of operations, financial condition, and/or stock
price could be materially adversely affected. We also expect to incur
additional costs and require additional resources to monitor, report,
and comply with our various ESG commitments and reporting obligations.

*We rely on traffic to our platform to grow revenue, and if we are
unable to drive traffic cost-effectively, it would materially adversely
affect our business, results of operations, and financial condition.*

We believe that maintaining and strengthening our brand is an important
aspect of our efforts to attract and retain Hosts and guests. In
particular, we rely on marketing to drive guest traffic to our platform.
We have invested considerable resources into establishing and
maintaining our brand. As a result of the COVID-19 pandemic, we
realigned our organizational priorities to further increase our focus on
individual Hosts and brand marketing, while reducing performance
marketing.

Our brand marketing efforts include a variety of online and offline
marketing distribution channels. Our brand marketing efforts are
expensive and may not be cost-effective or successful. If our
competitors spend increasingly more on brand marketing efforts, we may
not be able to maintain and grow traffic to our platform.

We have used performance marketing products offered by search engines
and social media platforms to distribute paid advertisements that drive
traffic to our platform. The remainder of our traffic comes through
direct or unpaid channels, which include brand marketing and search
engine optimization ("EO". A critical factor in attracting Hosts and
guests to our platform is how prominently listings are displayed in
response to search queries for key search terms. The success of home
sharing and our brand has led to increased costs for relevant keywords
as our competitors competitively bid on our keywords, including our
brand name. Our strategy is to increase brand marketing and use the
strength of our brand to attract more guests via direct or unpaid
channels. However, we may not be successful at our efforts to drive
traffic growth cost-effectively. If we are not able to effectively
increase our traffic growth without increases in spend on performance
marketing, we may need to increase our performance marketing spend in
the future, including in response to increased spend on performance
marketing from our competitors, and our business, results of operations,
and financial condition could be materially adversely affected.

other initiatives, has caused and will continue to cause us to incur

significant ongoing expenses and may result in fewer listings and

bookings or reduced Host and guest retention, which could also

materially adversely affect our business. As we operate a global

platform, the timing and implementation of these measures will vary

across geographies and may be restricted by local law requirements. We

have invested and plan to continue to invest significantly in the trust

and safety of our platform, but there can be no assurances that these

measures will be successful, significantly reduce criminal or fraudulent

activity on or off our platform, or be sufficient to protect our

reputation in the event of such activity.

Furthermore, we have established community standards, but those

standards may not always be effectively enforced, communicated to, or

consistently understood by all parts of our community. For example,

while we require and communicate to Hosts and guests to make certain

commitments with respect to diversity and belonging when they join

Airbnb, these standards and requirements are not always well understood

by all parts of our community. As a result, Hosts and guests may be

surprised or disappointed when their expectations are not met.

*Growing focus on evolving environmental, social, and governance issues

("SG" by shareholders, customers, regulators, politicians, employees,

and other stakeholders may impose additional risks and costs on our

business.*

ESG matters have become an area of growing and evolving focus among our

shareholders and other stakeholders, including among customers,

employees, regulators, politicians, and the general public in the United

States and abroad. In particular, companies, including Airbnb, face

heightened expectations with respect to their practices, disclosures,

and performance in relation to climate change, diversity, equity and

inclusion, human rights, energy and water consumption, human capital

management, data privacy and security, and supply chains (including

human rights issues), among other topics.

We are committed to maintaining strong relationships with all of our key

stakeholders, including our Hosts, guests, the communities within which

we operate in, employees, and shareholders and we have taken and

continue to take steps to serve each of our stakeholder groups. We also

endeavor to maintain productive relationships with regulators and other

constituencies with whom we engage. Notwithstanding our commitments to

stakeholders and intentions with respect to other constituencies, if we

fail to meet evolving investor, regulator, and other stakeholder

expectations on ESG matters, if we are perceived not to have responded

appropriately or in a timely manner to ESG issues that are material, or

perceived to be material, to our business (including failing to pursue

or achieve our stated goals, targets and objectives within the timelines

we announce, failing to satisfy reporting and disclosure expectations or

requirements, or if there are real or perceived inaccuracies in the data

and information we report), if we fail to accurately report ESG-related

data, or if we fail to fully understand, reflect, disclose, mitigate or

manage risks associated with environmental or social matters, we may

experience harm to our brand and reputation, adverse press coverage, a

reduction in our attractiveness as an investment, greater regulatory

scrutiny and potential legal claims, greater difficulties in attracting

and retaining customers and talent, increased costs associated with our

legal compliance, insurance, or access to capital, and as a consequence,

our business, results of operations, financial condition, and/or stock

price could be materially adversely affected. We also expect to incur

additional costs and require additional resources to monitor, report,

and comply with our various ESG commitments and reporting obligations.

*We rely on traffic to our platform to grow revenue, and if we are

unable to drive traffic cost-effectively, it would materially adversely

affect our business, results of operations, and financial condition.*

We believe that maintaining and strengthening our brand is an important

aspect of our efforts to attract and retain Hosts and guests. In

particular, we rely on marketing to drive guest traffic to our platform.

We have invested considerable resources into establishing and

maintaining our brand. As a result of the COVID-19 pandemic, we

realigned our organizational priorities to further increase our focus on

individual Hosts and brand marketing, while reducing performance

marketing.

Our brand marketing efforts include a variety of online and offline

marketing distribution channels. Our brand marketing efforts are

expensive and may not be cost-effective or successful. If our

competitors spend increasingly more on brand marketing efforts, we may

not be able to maintain and grow traffic to our platform.

We have used performance marketing products offered by search engines

and social media platforms to distribute paid advertisements that drive

traffic to our platform. The remainder of our traffic comes through

direct or unpaid channels, which include brand marketing and search

engine optimization ("EO". A critical factor in attracting Hosts and

guests to our platform is how prominently listings are displayed in

response to search queries for key search terms. The success of home

sharing and our brand has led to increased costs for relevant keywords

as our competitors competitively bid on our keywords, including our

brand name. Our strategy is to increase brand marketing and use the

strength of our brand to attract more guests via direct or unpaid

channels. However, we may not be successful at our efforts to drive

traffic growth cost-effectively. If we are not able to effectively

increase our traffic growth without increases in spend on performance

marketing, we may need to increase our performance marketing spend in

the future, including in response to increased spend on performance

marketing from our competitors, and our business, results of operations,

and financial condition could be materially adversely affected.