We're seeing municipalities push back in cities as big as Barcelona and Vancouver, to places remote and small as Haida Gwaii. Cities are going to regulate out

We're seeing municipalities push back in cities as big as Barcelona and Vancouver, to places remote and small as Haida Gwaii. Cities are going to regulate out the concept of people buying apartments purely to wholly rent them out 100% of the time on Airbnb. This is a very significant portion of Airbnb revenue. I have trouble seeing how Airbnb's valuation isn't going to have to be scaled back when big parts of their business are regulated out of existence.