How Airbnb accidentally screwed the US housing market and made $100 billion - eviltoast
Airbnb's success story stands out in stark contrast to the struggles of other startups. Unlike Zillow's disastrous attempt at house-flipping, Airbnb has flourished for over a decade. Their revenue skyrocketed, tripling from $3.3 billion to nearly $10 billion. Even more impressive, they flipped profitability, going from annual losses of $4-5 billion to earning the same staggering amount. Perhaps the strongest indicator of their dominance is their resilient stock price. Unlike the post-IPO crashes
  • cybersin@lemm.eeEnglish
    212·
    6 months ago

    Blaming AirBnB for high housing prices is like setting up a chain of dominos, and criticizing a guy who comes by and knocks it over.

    Yeah, and that’s exactly what they chose to do. They contributed to the reasons John Public can’t afford housing, and were rewarded massively for it.

    If it wasn’t him, it would have been someone else, or the wind.

    Yeah, anyone can rob a bank with poor security, but we should still punish the guy who actually robs the bank.