Another angle is that Airbnb also carries differentiated inventory vs. a completely commoditized good. If you are booking a guys ski trip vs a romantic weekend

Another angle is that Airbnb also carries differentiated inventory vs. a completely commoditized good. If you are booking a guys ski trip vs a romantic weekend vs family reunion you are looking for a unique property. Airbnb, as the largest player, is most likely to have differentiated inventory, and therefore, the first place someone looks. So as a two sided market place, Airbnb has more value.