I'll just make a meta-point. The parties that are investing in AirBnb at $20B are not some retail pikers chasing a bubble. TPG for example. They're literally among the most sophisticated institutional investors in the world. I'm not going to make an appeal to authority, but I will say that dismissing parties with real expertise in a casual manner is usually poor judgement.
Furthermore, I think its almost certain that the investment research that led the teams at Fidelity and and TPG to value AirBnb at $10B+ is not 'absurd'.
So a more interesting question is 'What exactly is it that the TPG and Fidelity' see?
"is worth almost as much as say Marriot ... is absurd"
here's an example around the $10B valuation
http://qz.com/190432/airbnb-doesnt-even-own-a-bed-but-its-ba...
I'll just make a meta-point. The parties that are investing in AirBnb at $20B are not some retail pikers chasing a bubble. TPG for example. They're literally among the most sophisticated institutional investors in the world. I'm not going to make an appeal to authority, but I will say that dismissing parties with real expertise in a casual manner is usually poor judgement.
Furthermore, I think its almost certain that the investment research that led the teams at Fidelity and and TPG to value AirBnb at $10B+ is not 'absurd'.
So a more interesting question is 'What exactly is it that the TPG and Fidelity' see?