Brian Chesky is no stranger to big lifts. The 38-year-old former bodybuilder and Airbnb CEO has, in the space of 11 years, hauled his property rental dream from a single air mattress to a multi-billion dollar startup success story. But as hosts rage and debt piles up, the huge weight of the coronavirus pandemic might be too much for Chesky to bear.
In Prague, officials are using the pandemic to try and regain control over the burgeoning short-term rental market that has decimated the supply of housing available to local residents. Other cities may soon follow suit.
Hosts are calling it the Airbnb apocalypse. But it’s more akin to an enema. Airbnb maintains that it’s “powered by local hosts”, but the reality is quite different. Yes, there are many hosts on Airbnb who live in the properties they list on the platform. But, in many markets, including the entire of the United States, the number of “professional” hosts seemingly outnumbers those listing on Airbnb to earn a bit of extra cash from their cosy spare room.