Earlier quoted context omitted.
So, you're mad at Airbnb because the government isn't regulating it properly?
Because it's only illegal because it's not regulated "properly?"
Ahead of IPO, Airbnb achieves profitability for second year in a row
231–240 of 241 posts
Re: Ahead of IPO, Airbnb achieves profitability for second year in a row
#232Amazing what a company can do when they ignore regulations and simply extract wealth out of our communities. 80% of their profit comes from huge corporate listings yet they advertise themselves as a "home-sharing" site. Nonsense.
They aren’t “extracting wealth” from communities any more than Booking.com does. In fact, AirBnB creates wealth. A person renting out a room on AirBnB is economically better off than if they didn’t.
Building something creates wealth. Changing the channel through which payment occurs doesn't create wealth. The host's revenue comes from displacing hotels; the guest's savings come from increased rent for other tenants. If you consider the negative externalities imposed on neighbors, there'd be a stronger argument that AirBnB destroys wealth.
Re: Ahead of IPO, Airbnb achieves profitability for second year in a row
#233Earlier quoted context omitted.
I grew up there and my dad owns a real estate brokerage. I can confirm that this is pretty common, and it's a great example of Airbnb making a market that has existed longer than I've been alive (vacation rentals in a resort city) orders of magnitude more accessible to the average person. I've seriously considered (to the point of starting to model it) buying something that can credibly be called "walking distance" t…
Wow, didn't realize how inexpensive homes are there (vs LA, SF at least. I see 2 bedroom/2 baths for under $200k..tempting!
Re: Ahead of IPO, Airbnb achieves profitability for second year in a row
#234Earlier quoted context omitted.
Wow, didn't realize how inexpensive homes are there (vs LA, SF at least. I see 2 bedroom/2 baths for under $200k..tempting!
Compared to some of the most expensive housing in the USA? I'd bet more 2bd 2ba homes are sold <200k in the USA than the other way around by a long shot.
Re: Ahead of IPO, Airbnb achieves profitability for second year in a row
#235Earlier quoted context omitted.
Good hotel still have pools, can be located outside of downtown, and sometimes even in-room kitchens (if that's what you want). They also have maid service, room service, and a front desk. The only advantage you get from an AirBnB is a unique facade, paired with having to clean up after yourself and possible fire and health code violations.
Good hotels also overcharge for parking, have slow, sketchy WiFi, charge $10 for a bottle of water and every person you encounter requires a gratuity. I like hotels but they can be annoying and everything in the hotel is overpriced and designed to squeeze your wallet. There is no excuse for a bottle of water that costs $10 when the same bottle at the 7-11 outside sells it for $1.99. Even worse are hotels that charge…
I'll admit that gratuity is annoying, but that's a cultural problem with the US, not something specific to hotels. We just happen to live in a country where every person who serves you is expecting a tip. And to be fair, if I was staying at an AirBnB that for whatever reason had housecleaning or other service, I'd probably have to leave a tip there too.
Re: Ahead of IPO, Airbnb achieves profitability for second year in a row
#236Earlier quoted context omitted.
Demonstrating compliance with the law can be and often is a legal requirement itself.
There aren't any laws here for Airbnb to comply with. That's my point: the regulations are on the hosts. If the Government wants to regulate Airbnb, they need to pass legislation that requires Airbnb to do something. Exactly as they did with YouTube via DMCA.
It seems premature to claim whether Airbnb is subject to more laws like this or not. Many cities have enacted new regulations or sued Airbnb over failures to comply with existing laws, and it seems like a complex legal issue still in the midst of being hashed out.
[0]: https://www.sfchronicle.com/business/article/Airbnb-loses-th...
Re: Ahead of IPO, Airbnb achieves profitability for second year in a row
#237Earlier quoted context omitted.
There aren't any laws here for Airbnb to comply with. That's my point: the regulations are on the hosts. If the Government wants to regulate Airbnb, they need to pass legislation that requires Airbnb to do something. Exactly as they did with YouTube via DMCA.
You are just incorrect. For example, Airbnb was required to comply with host registration and caps on short stay rentals in San Francisco (e.g. discussed in [0]). Airbnb is legally required to demonstrate its own compliance, separately from what laws govern hosts themselves. It seems premature to claim whether Airbnb is subject to more laws like this or not. Many cities have enacted new regulations or sued Airbnb ove…
Re: Ahead of IPO, Airbnb achieves profitability for second year in a row
#238Earlier quoted context omitted.
You are just incorrect. For example, Airbnb was required to comply with host registration and caps on short stay rentals in San Francisco (e.g. discussed in [0]). Airbnb is legally required to demonstrate its own compliance, separately from what laws govern hosts themselves. It seems premature to claim whether Airbnb is subject to more laws like this or not. Many cities have enacted new regulations or sued Airbnb ove…
Dude, that was my entire point. Airbnb was required, via legislation, to do something, thus they are doing it. Advocating that they do something without being required to is what I'm commenting on.
Re: Ahead of IPO, Airbnb achieves profitability for second year in a row
#239They're often considered similar businesses, but intuitively it seems to me that, long-term, Airbnb will be valued higher than Uber and other ridesharing companies. Home rentals seem to be simpler market to operate in than coordinating real-time supply and demand between drivers & riders. Additionally, Uber seems to be facing issues on the driver side of the business - they have a $650 driver acquisition cost & a 12%…
Re: Ahead of IPO, Airbnb achieves profitability for second year in a row
#240Earlier quoted context omitted.
There are many jurisdictions where this is an extremely dangerous assumption. Knowingly facilitating illegal transactions is often a crime.
Do you have a case where Airbnb is being charged with doing that?
https://www.pacermonitor.com/articles/2018/08/02/airbnb-host...