Third, since the company does not issue its own credit cards, like some other payment processors, it is not exposed to the risk of potential loan losses, making it relatively resilient to economic downturns. The company reported better-than-expected Q4 earnings results (ending Dec. 31, 2022) and the first full year of generally accepted accounting principles (GAAP) profit -- an achievement at a time when skyrocketing inflation has reduced consumer discretionary spending. Further, thanks to Airbnb's capital-light business model, the company can rapidly scale its property network with minimal capital by adding more hosts -- something impossible for conventional hotels.