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> AirBnB should implement the rule that you only get to list 1 rental. That would solve this problem, and allow them to stop lying to everyone about who is actu
by jgalt212 11y ago
> AirBnB should implement the rule that you only get to list 1 rental. That would solve this problem, and allow them to stop lying to everyone about who is actually renting on their platform.
That proposal is a one way train from a $25B valuation to $2.5B valuation.
Of course, if AirBnB loses a number of these key regulatory battles that too could put a serious damper on their biz. Hence, their massive lobbying efforts.
- orthoganol 11y agoIf 90% of their business comes from 'power users' and investment firms and not 'locals renting their home while they are out of town' - then AirBnB is founded on an extraordinary lie.
- sliverstorm 11y agoYes.
- x0x0 11y agoPersonally I'd bet that a majority of their revenue is attributable to units that are not owner-occupied for several reasons: * people using a dwelling limits how much hosting they can do * how hard they've fought to avoid forcing these professional landlords to obey the law (viz nyc, sf, etc); would they have fought so hard (potentially endangering their whole business, see current prop F backlash in sf) if this were a small fraction of revenue? see eg http://www.sfchronicle.com/airbnb-impact-san-francisco-2015/#1 http://www.sfchronicle.com/airbnb-impact-san-francisco-2015/... My back-of-napkin rough estimates are 40-70% of revenue is not the face of the anti-prop F campaign, ie someone earning a little extra money from the odd weekend guest.
- JonFish85 11y agoUh, of course it is. This is why they continue to resist showing any meaningful property data. I'd wager good money on the majority of their rentals also being illegal. But it props up their value and makes money cheap for them so they'll continue to fight until legally forced to do otherwise.
- untog 11y agoBut what is the better foundation: an honest 2.5B valuation, or dishonest 25B one? (calling Airbnb 'dishonest' is perhaps an exaggeration, but their advertising definitely reflects values that a lot of hosts don't represent, and they must know that)