4 ms·

What a really amazing turn-around from a few months ago. AirBnB was lauded as one of the few unicorns that were actually profitable and doing a good job justif

What a really amazing turn-around from a few months ago. AirBnB was lauded as one of the few unicorns that were actually profitable and doing a good job justifying their valuation. With that said, they were a bad faith actor in many cities and caused rents to go up significantly [1], so I'm not sad they're taking it on the chin. [1] https://www.forbes.com/sites/garybarker/2020/02/21/the-airbnb-effect-on-housing-and-rent/#22c2361f2226 https://www.forbes.com/sites/garybarker/2020/02/21/the-airbn...

amiga_500 7y ago
Many? Can you name a city that they didn't exploit regulations to get an edge? They just marched in and started setting up illegal mini-hotels. When this blows up I'd love to know how that came to pass. Did every mayor in every big city really just decide not to act? There has to have been carrots and sticks here.
- krrrh 7y ago
  It increased the value of homes, and homeowners have more political power than non-homeowners in most American cities just by numbers.
  - amiga_500 7y ago
    Most home owners hate airbnb in their area, so I disagree.
ergocoder 7y ago
To be fair, the crisis directly impacts their business. This is like saying "Apple was lauded as the best company last week. But a meteor hitting earth today completely wipe out human and apple. What a really amazing turnaround" When we laud a company, it, of course, doesn't include an extraordinary pandemic.