It's not surprising at all. All of these review-driven P2P marketplace businesses end up with the same problem. After the initial phase of early adopters that offer generally high quality products, a flood of fake or low-quality listing tries to squeeze money out of the platform. These people are not listing their homes on Airbnb, they are trying to make a living by extracting as much money from the platform as they…
This is a useful way to think about how markets/platforms evolve. I have yet to use Airbnb. But it seems that the target customer has changed. I have been aware of them since they first showed up on Hacker News. They were pitched as renting an airbed where hotels are not a useful choice. That target customer is a demographic that I had aged out of before they started. If they were still marketing only to very young p…
Well, clearly it doesn't.