
Airbnb reportedly built an internal hedge fund that makes $5M per month - jaredtking
https://venturebeat.com/2018/02/07/airbnb-reportedly-built-an-internal-hedge-fund-that-makes-5-million-per-month/
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reverend_gonzo
> former CFO Laurence Tosi, who had previously worked Blackstone Group as CFO,
> took Airbnb’s cash flow and created an internal hedge fund.

> According to Bloomberg, Tosi “quietly built a hedge fund within the
> company’s finance department. He used a portion of capital from the balance
> sheet to buy stocks, currencies, and fixed-income securities, mimicking the
> treasury fund he ran at Blackstone. The side project represented 30 percent
> of the company’s cash flow last year and made about $5 million a month for
> Airbnb, the people said.”

For what its worth, its easy to make money in a low volatile, bull market. I'd
be really interested to know how that fund does in the upcoming weeks.

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thisisit
Original source is the bloomberg article which was discussed here:

[https://news.ycombinator.com/item?id=16322070](https://news.ycombinator.com/item?id=16322070)

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throwaway2016a
Aside from the implication in the article (that this activity skewed the
company's profits) is this normal for companies?

If so, if I am a investor in such a company (hypothetical, I'm not an
investor) would I be concerned that the company is taking market risks with
their money instead of investing in things like marketing and R&D?

I mean, clearly it works for them (so far) but any investment is risky. As an
investor I would assume that if I wanted to invest in the market I would have
put it in a full-time hedge fund or wealth management company.

