> Take the regulatory arbitrage away and AirBnB isn't a technical startup or a market disruptor; it's just another VRBO site with pretty CSS. Apparently a lot

> Take the regulatory arbitrage away and AirBnB isn't a technical startup or a market disruptor; it's just another VRBO site with pretty CSS. Apparently a lot of people are attracted to AirBnB for this very reason. This shows how badly regulations affect so many different kinds of markets.