Airbnb's success story stands out in stark contrast to the struggles of other startups. Unlike Zillow's disastrous attempt at house-flipping, Airbnb has flourished for over a decade. Their revenue skyrocketed, tripling from $3.3 billion to nearly $10 billion. Even more impressive, they flipped profitability, going from annual losses of $4-5 billion to earning the same staggering amount. Perhaps the strongest indicator of their dominance is their resilient stock price. Unlike the post-IPO crashes
They are a company with zero morals and the goal to maximize profits. That’s what capitalism is for and were it’s good at.
The government needs to create rules and laws to make sure that this profit maximizing doesn’t happen on the back of ordinary people, but since corporate america is allowed to control the government through money, this doesn’t happen.
Capitalism is a tool, can we please start to use it like that again?!