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
Any somewhat touristic city that didn’t implement some drastic restrictions has been fucked. In those places you can make from 2 to 10 time as much with airbnb as you can with a normal tenant so it becomes the obvious choice for a property owners. the only way to fix supply is regulation.