Airbnb's success story stands out in stark contrast to the struggles of other startups. Unlike Zillow's disastrous attempt at house-flipping, Airbnb has flourished for over a decade. Their revenue skyrocketed, tripling from $3.3 billion to nearly $10 billion. Even more impressive, they flipped profitability, going from annual losses of $4-5 billion to earning the same staggering amount. Perhaps the strongest indicator of their dominance is their resilient stock price. Unlike the post-IPO crashes
Whole home or dedicated AIRBNB should be banned… If I had a room going unused I’d AirBnb
I agree with you to some extend.
What I do not agree about is the implicit assumption that if AIRBNB is banned then every house that was used for short-term rental would become available on the long-term rental market.
The main advantage of the short-term rental (obvious higher profits aside) is the fact that the owner is sure to be able to get back the house if/when he need it. So many owners saw the possibility to use an house with AirBnB (or other similar ways) a lot more attractive than keeping it empty (paying the taxes on it) and much less risky than having a long-term rental where the tenants could be turn out to be a bad one.