Clause 16 in the new ToS is effectively a trap door underneath that "seat at the table". Airbnb "in its sole discretion" still gets to make all the rules, decisions, and basically do whatever it wants. Hopefully this will change with the class action lawsuit. Tend to think the only way AIRB will begin treating hosts as proper partners instead of servants is through legal challenges in the courts. Hosts can read about the class action suit here
https://community.withairbnb.com/t5/Hosting/Host-initiates-class-action-lawsuit-over-COVID-19-cancel...
As for the endowment fund.... 9.2 million shares of nothing, is still nothing and pretty much meaningless unfortunately. Just a pie in the sky PR exercise and imo, a poor excuse to hosts. AIRB will still have 100% control of this illusory fund if or when it ever materialises with the magical $1b. And why the company might want such a thing when it seems many of the basic needs of hosts should be automatically covered in ordinary operating expenses and systems applications is a mystery.
As for the IPO - there won't be any share offer directly to hosts. AIRB (the NASDAQ ticker/symbol when it launches) is expected late November to mid December (possibly next week, see Bloomberg link below). FYI the company is hoping to raise $3b in the IPO and has high interest debt of $2b to pay off immediately. Funny how Booking got their loans @ 4% but AIRB had to cough up 10% - that speaks to the level of risk investing in the company.
Here's the latest info on IPO launch date
https://www.bloomberg.com/news/articles/2020-11-10/airbnb-is-said-to-push-back-ipo-filing-to-avoid-e...
It is a considerable concern that the company doesn't currently hold host/guest money in escrow accounts, but instead seems to use these funds for its own operational and (some rather crazy) project purposes. Rather like a giant Ponzi scheme, spending today based on projected cash flow (that isn't actually your own money, but guest/host money) from future bookings. Not even from future fees that would rightfully be within AIRB's gift. Not exactly an ethical business practice and one that needs to stop pdq. That's something of a worry for all hosts if the company is in fact strapped for cash, unable to live within its own means (18% take on bookings) and you as a host have reasonable expectation of getting paid for services you have provided.
And something else to keep in mind
It would indeed be a wonderful thing for authentic local hosts to have some meaningful equity in that seat at the table and for the company to be well grounded in good business practices. Let's hope it does actually happen.