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Icy-Performance-3739 t1_iyxdyyj wrote

Reply to comment by thisisntmineIfoundit in Airbnb likely to lose more than 10K listings in NYC under tight new rules by NecessaryMistake9754

Because venture capital big piles of cash allowed uber and airbnb to artificially price their service lower than market for 5 years or so while they shut down competition then they jack the prices back up. Same with Wal mart and etc etc. Corporate raiders. Predatory vulture capitalism

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lotsofdeadkittens t1_iyxh8tp wrote

What Disney plus is doing too in the next 5-10 years we will see all these streaming services cost more than netflix

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zlubars t1_iyxyoek wrote

well yea disney streaming is losing $4B a year lol

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GrassGaurdian t1_iyxepwf wrote

Well Walmart got to end up profitable because they actually have a business

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NYKyle610 t1_iyxq7iu wrote

Walmart is profitable because they pay their staff so low, that they become subsidized by the government (food stamps and other low income benefits).

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Icy-Performance-3739 t1_iyycn8q wrote

I wish more people cared about this. We privatize the gains but subsidize the losses of these corporations. It's so annoying.

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FeistyButthole t1_iz02ru5 wrote

It's so uniquely American.

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ZA44 t1_iz05h9r wrote

Not quite, feisty butthole, Germany has a history of propping up its major corporations too.

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FeistyButthole t1_iz09nty wrote

The also have a history of employee codetermination that is not strictly using employees as a fungible commodity.

It’s a bit like comparing buttholes and navels.

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Financial_Revenue_43 t1_iz0rz95 wrote

>We privatize the gains but subsidize the losses

I've never heard it put so eloquently.

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[deleted] t1_iyylmob wrote

Walmart still has extremely low prices compared to competitors…

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socialcommentary2000 t1_iz098xz wrote

WalMart is a poor example because they always kinda sorta wanted to be a relentless logistics company that just happened to sell consumer goods.

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Pool_Shark t1_iz1ee85 wrote

That’s not the whole store though. When AirBNBs were first getting popular the hosts were people who had an extra room or were going out of town for a while and wanted to earn some money. Over time Super Hosts came about who own multiple properties that solely exist for Airbnb rentals and they maximize the prices much more than the mom and pop style leasers it started with

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Hrekires t1_iz4uvfj wrote

MoviePass and early 10s Uber were basically the greatest transfers in wealth from VC billionaires to consumers in history.

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Icy-Performance-3739 t1_iz4v5f9 wrote

So officially consumers of Uber and Movie pass. Not just general consumers in the universe. So maybe .000001 percent of humans

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Dichotopotamus t1_iyxildq wrote

That's not it at all. Competition e.g. hotels and taxis have not disappeared at all. For Airbnb its ludicrously expensive now because property owners need more money post pandemic after shutdowns crushed their income.

For Uber it's simply convenience in metro areas that don't have great public options.

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san_serifs t1_iyy1yls wrote

The interest rates on those investor mortgages are probably ratcheting up and those ridiculous cleaning fees are what is covering that.

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Round-Good-8204 t1_iyzhzto wrote

Exactly. Unfortunately, nobody cared about locking in a fixed rate at like 4% because "it could go back down, you don't know".

I don't even own a house or car or any loans in my name, and I still feel like I'm catching the back end of the fallout because now everything I need is more expensive. Even local bodegas are charging more for stuff because they need the money to cover their ridiculous mortgages.

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san_serifs t1_iyzyokd wrote

Bodega prices mostly increased because wholesale prices increased. There could be other factors for some stores, but that is the main one.

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Dichotopotamus t1_iz114va wrote

LOL why so many negative comments? It's literally basic economics. Skyrocketing inflation, lockdowns stopping Airbnb hosts revenue. Remember most of them are independent owners, not hotel chains who have the scale to manage that downturn. So Airbnb hosts have to recoup by charging crazy rates or they're going to get foreclosed. I suspect many comments here are economic illiterates or deniers. We know the type.

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