How to build a ‘totally legit’ Airbnb in the ‘Real’ United States
The real estate industry is going crazy with demand for the “airbnb of the future,” with thousands of listings flooding the site in the United States, as the government and hotel industry alike try to figure out how to regulate it.
The government’s regulatory crackdowns on online hosts have been the biggest hurdle to the nascent business model, but Airbnb’s new CEO and the new U.S. Attorney General, the head of the Justice Department’s civil rights division and a top executive at a major tech company are making waves as the first people to tackle the issue directly.
“It’s like a tidal wave of demand that’s not stopping,” said Jason Le, Airbnb’s chief executive officer, in a keynote address at the Real Estate Institute of America conference in Las Vegas.
“We’re on the cusp of a new wave of real estate innovation that will change how we live, work and play in the 21st century.”
Airbnb is the second-largest U.K.-based company by annual revenue, behind only Amazon, and Le said the site is set to double its workforce by 2020.
Le, whose company is a wholly owned subsidiary of eBay, will lead the company as chief executive, along with the CEO of its largest competitor, TripAdvisor.
Le is also a partner at the venture capital firm Andreessen Horowitz, which has backed a slew of startups in the Airbnb space.
Airbnb, which makes its money by renting out its apartments, has raised more than $100 million in venture capital funding and has more than 6,500 active listings across the U.Y.A. that have attracted millions of guests in the past year.
It has nearly 10 million active users worldwide, according to its data, making it the largest online property management service in the world.
Le said Airbnb’s success will hinge on how it can make the site more attractive to businesses and tourists, as well as on its ability to keep up with demand from more and more people.
“A lot of people say Airbnb is like the next Apple,” Le said.
“But Airbnb is more like the cloud of the internet, where we are in a world of ever-growing connectivity.
There is more demand, and you can connect to it faster and faster.”
Le added that Airbnb will be able to tap into its users to help it build its business.
“What I see as a threat is the cloud,” he said.
Airbnb has been the subject of a wide-ranging investigation by the U,N.
and state governments over concerns about safety, security and privacy.
The U.N. Office for the Co-ordination of Human Rights found that its “illegal and discriminatory practices” violated the rights of hosts and users alike.
“The business model of Airbnb is based on an incredibly unsafe and degrading working environment, including abusive, unsafe and discriminatory working conditions, as documented in dozens of reports and independent investigations,” the U.,N.
said in a report last year.
Airbnb also faced scrutiny from the Federal Trade Commission after the agency said it found “unlawful anti-competitive conduct.”
In its first annual report in October, the FTC said that Airbnb violated its terms of service and privacy policies by failing to “proactively and comprehensively investigate” allegations of misconduct.
Airbnb did not immediately respond to a request for comment.
The SEC report found that the company did not conduct due diligence on hosts and that it “failed to provide hosts with clear and timely information on the safety and security of their properties, or provide the hosts with an opportunity to resolve complaints against them.”
Airbnb did, however, offer the FTC a 30-day grace period to correct any errors and make changes to its policies and procedures.
Le has said the company would “continue to improve safety and quality” and would take steps to improve its customer experience, which includes “improving the tools that hosts use to report unsafe and abusive behavior.”
Airbnb also faces regulatory scrutiny in New York State, where lawmakers are considering new rules that would require companies to disclose the names of customers who rent their properties.
Airbnb said it was not aware of the report.
“If they want to be a leader in this industry, they need to address the issue of anti-consumer conduct and how they are protecting customers,” Le told CNBC.
Airbnb is a leading provider of virtual and offline housing, and it has long struggled to attract customers.
It is a popular destination for millennials and older people who are looking for a place to live without spending a fortune on rent.
“They have an advantage because they’re willing to pay a premium to stay in a place they want,” Le added.
“There is a huge amount of demand for Airbnb right now.”
Airbnb’s growth comes as Airbnb has faced growing pressure from regulators and consumers in the U.
“In its first quarter, Airbnb reported $2.9 billion in revenue, up 3.3 percent from a year earlier, according the company.
The company said it expects the same increase in revenue for the full year. “