No vacancy — why New York City is still a big problem for Airbnb
When Airbnb was just two years old, it made a choice to ask for forgiveness from New York, not permission
Back then, the home-rental site had barely raised its first round of funding. Just a year had passed since its founders handed out flyers for Airbedandbreakfast.com at President Barack Obama’s inauguration.
It was 2010 and the sharing economy was about to take off. At the same time, the housing crisis continued to grow in America’s most expensive cities. In one of them, lawmakers would attempt to quell the crisis with a bill cracking down on unethical landlords
That law, in a few short years, would become the primary tool that the city of New York and the hotel industry used to fight the $30-billion company encroaching on their territory Read more...
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