sassbayc t1_iv6w3eu wrote
Reply to comment by [deleted] in NYC proposes strict Airbnb registration rules to take effect in January by Eriosyces
it’s a $70B company lol
another example of a small vocal minority online not representing how most people think and act
TheObliviousPickle t1_iv6xq2y wrote
Market cap isn’t 70b. At least come with correct stats if you aim to make a point. It’s 60b and shares have plummeted over 50% this year. It is indeed dying.
Effective-Offer6879 t1_iv729gv wrote
Most things plummeted
[deleted] t1_iv9peo1 wrote
[deleted]
The_CerealDefense t1_iv7245m wrote
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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