How did Airbnb survive early on?
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What Happened: How did Airbnb's founders keep the company alive in 2008?
By selling election-themed cereal boxes. "Obama O's" and "Cap'n McCain's" cereal raised money when investors passed. Source: Wikipedia – Airbnb
Why: Why does this story matter to investors?
It showed resourcefulness, which helped them get into Y Combinator. Paul Graham reportedly took them partly because of the cereal stunt. Source: Wikipedia – Airbnb
The Lesson: The lesson?
Scrappy survival can buy the time for the idea to work. Default alive beats perfect strategy. Source: Wikipedia – Y Combinator