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That is so true. You can see a lot of SV startups think if it works in the US, then it works in Asia. AirBnb is a great example something that does not work.
by 20andup 10y ago
That is so true. You can see a lot of SV startups think if it works in the US, then it works in Asia. AirBnb is a great example something that does not work. When a 5 star hotel cost $50-70 only, people aren't going to pay the same price for someone else's home.
- aianus 10y agoAirbnb certainly works in Asia. Lots of Americans use it to find month-to-month whole apartment rentals. It's safer than paying a wad of cash to some random local landlord.
- 20andup 10y agoAmericans are using it, but that's a very tiny slice. The local market isn't using it and that's where the bulk of the money is. Using your logic, that would mean Airbnb is working the US, because Chinese people are using it in the US. Also, you are literally paying the same local landlord plus service fees to Airbnb. It is known that the exact same apartment can be listed +10% more on Airbnb. Look at all the medium size indie hotels that are popping up all around Asia, and you can see that the local people still prefer hotels.