A Strategic Finance Lab podcast on hedging, crypto risk, using revolving credit facilities and keeping duration short.
Healthy skepticism and sharp critical thinking are governing principles for Airbnb treasurer Brian Moore. In this episode of NeuGroup’s Strategic Finance Lab Podcast, available on Apple or Spotify, he explains how a critical—but not negative—approach provided the framework for deciding whether Airbnb should start accepting cryptocurrency from guests who use its booking platform.
- The decision, for now, not to accept crypto like bitcoin came down to the costs relative to other currencies and the relatively low volumes of derivatives available to hedge a digital asset. Managing currency risk is a core competency of Airbnb treasury: the company accepts more than 40 currencies and pays hosts in more than 60. Under Mr. Moore’s leadership, the treasury team created a foreign exchange cash flow hedging program.
- In addition to discussing his approach to hedging (remain agnostic on rates, don’t try to time the market), he discusses with NeuGroup Insights editor Antony Michels his view—especially relevant in the wake of recent bank collapses—of when corporates should use revolving credit facilities (don’t wait too long).
Prior to joining Airbnb in September 2021, Mr. Moore most recently served as treasurer at pharmaceutical distributor McKesson and built a new treasury department at Dover Corporation, a global manufacturer.
- Outside of work, in addition to spending time with his family, Mr. Moore loves to ski and play the electric guitar. He was in several rock bands a couple of decades ago and is currently putting together a new group that he hopes will play some gigs this year. It has no name yet—we’d like to suggest “The Healthy Skeptics.”
