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If 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 o
by orthoganol 11y ago
If 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.