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
Cops would rather beat up college students and the unhoused than go after landlords.
Ah, yes. We don’t have money because collecting taxes would be too expensive. Classic.
I mean, paying to sue a massive company that definitely has more (and probably better) attorneys than we do in order to collect a few thousand dollars more a year in sales tax isn’t necessarily the best use of city funds. If we were a bigger city, it would make more sense, but it would take us years just for the taxes to cover what we’d spend in attorneys fees and staff time. I don’t like that that’s the reality, but I can see why the idea isn’t popular.
Also, the police aren’t involved in regulating short-term rentals. I’m no fan of cops, but this is entirely civil and they have no part in this particular issue.
Is it not tax evasion/fraud? In the US, either can bring criminal charges. For a smaller municipality, is there no assistance available from higher government?
No clue - most of that is either a department I’m not in and don’t know much about, or it’s way over my head. I’m just a mid-level peon. And politicians are the ones who have to give us the tools to actually do our jobs and all of these companies have deep pockets. That’s the biggest impediment.
Not being corrupted is just too darn expensive.