Airbnb being valued for 10 B's. More than some of the largest hotel chains. At what point can things officially be called ridiculous?
http://online.wsj.com/news/articles/SB100014240527023038021045794510226…
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I have serous reservations about airbnb' business practice. They basically turn private residences into hotel rooms but without the proper lodging insurance or zoning code. If just one guest gets hurt/killed in an accident or fire then Airbnb along with the host would be subject to unlimited liabilities as they have no insurance. I am surprised this hasn't happened yet. Seeing how much money airbnb now has it only makes sense for some adventurous trial lawyer to line up some victims and sue them into oblivion.
How did we ever survive without zoning codes?
Airbnb comes with $1mm in insurance from Lloyd's of London.
$1mm per booking?That must cost a lot in premium, or will, as soon as they have their first major accident--with the millions of bookings worldwide they do it is bound to happen. If $1mm per year/total then it is useless given the going rate of personal injury claimants. Also the the guy renting out his apartment won't be able to carry any type of appropriate insurance because his is a residential unit and hence not eligible for commercial/hospitality insurance because of the incorrect zoning.
Zoning codes exist to protect everyone's freedom and property rights, especially in multifamily dwellings. When someone runs his apartment as a flop house/hotel out of an apartment building it creates safety, noise and other hazards for the other residents, hence infringing upon their rights.
To your point, here's a pretty dated article on this Airbnb thing:
http://www.nytimes.com/2012/12/01/your-money/a-warning-for-airbnb-hosts…
And a more recent one:
http://nypost.com/2014/03/17/airbnb-renter-claims-he-returned-home-to-a…
LOL...beyond hilarious. Someone should forward that to TPG.
"BUT THIS TIME IT'S DIFFERENT!!!!!!!!!"
These guys should cash out while they can.
http://blogmaverick.com/2014/03/19/the-back-to-the-future-arbitrage-of-…
Just going to leave this Mark Cuban piece here.
Someone posted this in the comments. It's interesting to see where start ups are being funded and within what industry. https://www.pwcmoneytree.com/MTPublic/ns/nav.jsp?page=region
I like this bubble better than the first one, but c'mon. These companies are ridiculously overvalued. Anyone with a clean looking app can get VC funding it seems. Someone took tinder and morphed it into linkedin. Basically speed networking.
What do you think about this... An app where people upload their resumes, and the community votes up or down (Like HotorNot). There's a leaderboard for the top ranked resumes, and employers can reach out to them via the contact info on their res.
6 months down the line, LinkedIn snatches it up for a cool Bil and I retire on a beach down in Martinique.
Just stole your idea and sold out for $3bn (remember, a few hours have gone by since you got valued at $1bn). Suck my butt, twinkledick
Someone might actually do it.
Also, Airbnb is now more valuable than Intercontinental Hotels Group. No bubble here amirite?
Now is the best time to start your startup - hurry and cash out while you can!
long stem
Did you guys see the airbnb equivalent for bathrooms? People letting others use their bathrooms for a fee (highest I saw was like 12$ in Toronto, maybe more in other citities.) I'm sure that company will be worth a few billion next week, and maybe the following week we will see some other ludicrous ideas, with over the top valuations.
Here's the link https://airpnp.co/
If someone has to take a shit that bad and would pay 12 bucks for it, can't imagine the mess id have to clean up, and it wouldn't be worth the money.
Lol I saw that same site a couple weeks ago. I think its a joke, but it's really funny.
I saw this on Tosh and thought it was a parody.
Uber is a good biz model and I see it putting TLCs in major cities out now biz.
As for airbnb, most of their rev stems from illegal hosting. Only a matter of time before it goes down the tunes due to a lawsuit.
http://m.smh.com.au/travel/travel-news/airbnb-guests-host-sex-party-fre…
Only increasing that valuation
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