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@Dragxito@lemmy.world to Technology@lemmy.worldEnglish • 1 year ago

How Airbnb accidentally screwed the US housing market and made $100 billion

www.arktrek.shop

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How Airbnb accidentally screwed the US housing market and made $100 billion

www.arktrek.shop

@Dragxito@lemmy.world to Technology@lemmy.worldEnglish • 1 year ago
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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
  • @GrundlButter@lemmy.dbzer0.com
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    19•1 year ago

    You don’t get to make $100 billion dollars and feign ignorance about how you got it and the damage you caused to obtain it.

    Don’t you? I can’t think of any instance of justice truly being served to billionaires, can you?

    • @eran_morad@lemmy.world
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      • @GrundlButter@lemmy.dbzer0.com
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        18•1 year ago

        Those are fair points, but I can’t help but chuckle that they were brought to justice because they stole from millionaires and other billionaires to make their ill gotten gains. Probably woulda got away with it if they just stole from the poor and middle class.

        • @eran_morad@lemmy.world
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          • @GrundlButter@lemmy.dbzer0.com
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            2•1 year ago

            Not quite as many as Madoff, but some notable folks and investors.

            • @eran_morad@lemmy.world
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