AirBnB is a YC company, so I can see why this is relevant. But the biggest threat to their business model isn't hotels, or the behavior of hosts. It's that they

AirBnB is a YC company, so I can see why this is relevant. But the biggest threat to their business model isn't hotels, or the behavior of hosts. It's that they're still in the 'disrupt' phase and none of their status quo has been tested in the courts. If there is alleged discrimination, some wronged party will eventually file suit, and the courts will decide whose rights are more pertinent. If there is alleged skirting of regulations, some wronged party will eventually file suit, etc. Until these threads play out, they're growing, but after, they could crumble overnight. This uncertainty is the biggest threat to their business.