The_CerealDefense t1_iv7245m wrote
Reply to comment by sassbayc in NYC proposes strict Airbnb registration rules to take effect in January by Eriosyces
The issue is that its valued like a tech company, which is not the business its in. And its comparable businesses are not valued the same. And they are clearly on the decline.
One of the big things they had going for them early was the cost was wildly competitive to hotels and other lodging but that advantage has dried up, because the company needs to like, actually make money, and people doing AirBnBs became professional AirBnBers and that was never the intention and its pushed rates higher.
sassbayc t1_iv72h99 wrote
yeah that explains their record Q3 quarter. made more money that at any point in their history
The_CerealDefense t1_iv73kw6 wrote
Its just fuckery with their finances. Those margins between net revenue vs net income are so high that there's no chance that it came from actual business but from screwing around with finance stuff.
taylortru t1_iv79xlf wrote
You’re just saying words you don’t understand
Kuntry_Roadz t1_iv8kqlv wrote
It's just pent up post COVID demand .
Airbnb is going down the shitter
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