[krn]

> Our two junior team members were enthusiastic

> The three "old guys" didn't get it

I think that's the main reason why they passed on Airbnb. The VCs themselves were too far away from the initial target market, and could neither relate with the "airbed and breakfast" user base, nor see how it could scale.

[jamestimmins]

I imagine that if the same group debated the appeal of staying in hostels the outcome would have been similar.

[jonny_eh]

Those two lines should cause a VC to immediately invest. Unfortunately, the opposite is the result.