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CEO David Risher asserted that Lyft's customer-obsessed innovation strategy remains unchanged, calling it an 'imperative' in tech. While acknowledging competitors use a 'photocopy strategy,' he pointed to Lyft's results—market share at a 2.5-year high and strong driver preference—as proof of success. He concluded that in a vastly underpenetrated market, being the innovation leader is the winning long-term approach.

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CEO David Risher confirmed Lyft Media is on track to hit its $100 million run rate target by year-end, supported by strong ad performance metrics and new formats. He explained that the 'sponsored rides' feature, which allows retailers to pay for a user's ride to their store, is currently in an early but encouraging experimentation phase with a few partners. He reiterated his conviction in the concept's potential.

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CEO David Risher acknowledged that this is an ongoing journey. He stated that after getting basics like pricing right, the company has innovated with features like Women+ Connect and Price Lock. He believes Lyft's biggest competitor is 'inertia' and that the next step is to be more vocal about its differentiated, faster, and more innovative service. He noted that while brand surveys show customers 'like' Lyft, the goal is to make the reasons for choosing Lyft clearer to consumers.

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CEO David Risher affirmed the commitment to an asset-light model, explaining that Lyft's role, via its Flexdrive subsidiary, is in fleet management (e.g., managing SLAs with maintenance partners) rather than direct operations. On rider behavior, he reiterated the long-term growth model is a mix of new riders and increased frequency, emphasizing that there is significant room for new rider penetration.

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CEO Brian Chesky linked the long-term vision to AI, explaining Airbnb's plan to become an "AI-native" application. He described starting with high-stakes customer service AI, which has already reduced human agent contacts by 15% in the U.S. The next step is to expand this AI globally and then integrate it into travel search next year, fundamentally changing travel planning on the platform.

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CEO Brian Chesky confirmed the focus is on growing transaction volume and network effects over increasing take rates. The top priorities are perfecting the core service based on user feedback and expanding internationally. He noted that while there are future opportunities to increase monetization, especially on the host side, the immediate goal is to grow market share and unit volume.

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CFO Ellie Mertz explained that localization timelines vary, highlighting Brazil as a two-year success while noting Japan is starting from a lower base. She clarified the $200-$250 million investment will primarily impact the marketing and product development lines to fund team build-outs, product awareness, and increased headcount for new business support.

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CEO Brian Chesky responded with an emphatic '100%.' He positioned Experiences as a key strategy to evolve Airbnb from an infrequent travel app to a more frequent, potentially monthly or weekly, use case. He confirmed the new services are being designed for both travelers and locals to use in their hometowns, which he believes will significantly increase engagement and broaden the app's utility.

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CEO Jeff Stibel explained that the immediate win is bifurcating customer types, sending lower-intent users who need more handholding to Formation Nation's effective onboarding process. He noted that while there is a significant opportunity to introduce subscriptions to the Formation Nation base, they are careful not to break a model that already works well. COO & CFO Noel Watson added that they have already started to increase marketing spend for Formation Nation and that realizing LTV opportunities would certainly expand what they can do on the acquisition front.

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CEO Jeffrey Kip explained the international revenue decline was driven by a strategic shift in the Canadian business to a higher-ROI, lower-revenue online acquisition model, and regulatory impacts in Europe (Digital Services Act) that created temporary conversion headwinds. Regarding monthly active pros, Kip stated that while the gross number will continue to decline into 2026 due to winding down unprofitable legacy acquisition, the capacity per pro is increasing. He anticipates the raw number of pros will begin growing by 2027, driven by the rollout of online pro enrollment in the U.S.

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CEO Paul Abbott asserted that sales cycles are not elongating. He explained that difficult economic conditions typically trigger a 'flight to quality,' which strengthens GBTG's value proposition of providing savings and control, leading to an acceleration in new sales performance, as seen in Q1.

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Co-President and CBO Alex Norström confirmed that the outperformance from the Q4 Wrapped campaign led to some expected churn in the subsequent one to two months, impacting Q1 MAU. He also noted that strong conversion of free users to paid subscribers, particularly in emerging markets where conversion rates are typically lower, positively impacts the premium tier but reduces the ad-supported MAU count.

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CEO Jamie Iannone declined to comment on specific partnership economics but highlighted that the Klarna partnership is driving incremental GMV by enabling higher average order values, which are 3-4x the market average. He framed it as part of a broader financial services strategy that creates synergies, such as eBay Balance, which encourages sellers to spend on the platform at a zero cost of payments, and Seller Capital, which helps small businesses grow.

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CEO Glenn Fogel agreed that cost savings from AI are realized faster, while revenue gains will be slower but represent a huge opportunity. CFO Ewout Steenbergen provided concrete examples of current impact, noting that AI efficiencies in customer service are already offsetting rising payment costs in the S&O expense line and that a meaningful portion of the $150 million in 2025 transformation savings is from GenAI.

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CEO Matt Goldberg attributed Viator's growth to a strong focus on product enhancements designed to improve the customer experience and drive repeat bookings. He highlighted improvements in product matching, catalog organization, user experience, and a rapidly growing mobile app channel. Goldberg emphasized that these efforts, combined with leveraging AI and enhancing the operator experience, are key to achieving long-term double-digit growth and margin expansion.

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CEO Sundar Pichai confirmed that Cloud customers are seeing tangible ROI from GenAI, leading to strong momentum. CBO Philipp Schindler acknowledged PMax's broad success but highlighted the Demand Gen product as being specifically powerful for inspiring consumers and driving action in the mid-to-upper funnel, effectively addressing that marketing objective.

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