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submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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Airbnb bookings dry up in New York as new short-stay rules are introduced | Under the new restrictions, short-term renters will need to register with the city and must be present in the home for th...::Under the new restrictions, short-term renters will need to register with the city and must be present in the home for the duration of the rental

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[–] ChrisLicht@lemm.ee 16 points 1 year ago (1 children)

Life is grand during the VC subsidization stage of a company’s lifecycle.

[–] Corkyskog@sh.itjust.works 2 points 1 year ago (1 children)

Honest question, what were they subsidizing? Were they previously charging no or little costs to people hosting? I understand what the delivery and Uber like companies were subsidizing, just not familiar with AirBNB.

[–] ChrisLicht@lemm.ee 3 points 1 year ago

For these market makers, both sellers and buyers are subsidized to entice both into the market.

Check out Cory Doctorow’s “enshittification” theory.