The Dark Truth About Airbnb

“Rumours of my death have been greatly exaggerated”... Hey guys, John here - good to be back! Sorry for the wait. I’ve been working on multiple videos at the same time the last couple of months, but that means I should have a couple more long documentaries ready for you very soon. And I figured a good one to start with was the crazy story of Airbnb… hope you enjoy! 😁 Also, a huge thanks to Brilliant for sponsoring - you can try it for FREE at brilliant.org/magnates - Brilliant make learning much more fun and interactive, and you can learn some genuinely really useful skills on there. You can test it out for free with the link above, and it helps support this channel too :

AirBNB was a great thing when people were renting out their own homes on a part-time basis. Once investors began buying up multiple properties for the purpose of being full-time short-term rental properties, it was disastrous for communities.

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Sometimes I watch your videos not because am interested in the topic but because it feels like a movie and just 30 seconds in am hooked already. Great storytelling and editing.

I've lived in Istanbul as an expat for 18 years. I've lost two apartments to Airbnb. I"m holding onto my present place until I can figure out if I have to leave the country, also thanks to Airbnb. The two guys who couldn't pay their rent have created this nightmare for many others. Here, rents have skyrocketed. Because of economic unrest, the dollar has multiplied many times in value. So we have more tourists than ever before. Professional Airbnb hosts rent the apartments for many times what normal people can pay, do all the repairs, and then rent out the place for Airbnb. The landlords love this. But our courts are backed up for two years, with all the evictions. Many people I know are being evicted. Most nice places are off the normal market now, all bought or rented up by Airbnb people. This is forcing Turkish residents farther and farther from the center of the city. Thriving, close-knit neighborhoods lose their local businesses to souvenir shops and cafes, the place fills up with strangers. If you live in an Airbnb building, your days are numbered. The Airbnb people don't give a damn about noise, trash or anything else. The worst ones are those who turn up their noses at a nice little hotel, rent an Airbnb, and blithely think they're experiencing "the real Istanbul" without realizing they are helping to destroy it.

It’s crazy how a company can become worth $100 Billion in Market Cap alone while hardly reporting a real profit. Their owners & founders are worth more money on paper than their company has actually made! Wow!

Just to clarify, Airbnb chooses 'not to be profitable' so they dont need to pay taxes. Uber "surprisingly" also doesn't make any money... millions people using the app, working countless hours with an app taking a cut from every transaction.... And not 'profitable' so don't need to pay tax?? Well played accountants, well played.

Airbnb could be out of of business as aspiring homeowners and renters get frustrated that there is no available long term housing in their area. My city banned it and nearly all neighboring cities either banned it or put restrictions on it. Not to mention, pressure from hotel owners will lobby to ban Airbnb.

I just came back from a two-month trip to South America, so stayed at plenty of Airbnb. Unfortunately it is no longer a platform where people welcome travelers into their homes. A lot “hosts” are real estate companies that only care about the bottom line. You run into issues you won’t normally find in a hotel such as loud construction in the building, “amenities” the host listed don’t work, cockroaches, no heater in cold weather, etc. In some countries such as Colombia, hotels are better values than Airbnb after all the various “fees” the platform and host charge.

Airbnb doesn't risk anything, they don't own the buildings, they don't have mortgages to pay, they only take a fee for renting space in your house. You take all the risk

Sedona, AZ is the perfect example of an Airbnb town. Almost no local anymore. Entire neighborhoods are now Airbnb's. It's REALLY weird.

your channel has become one of my favorite ways to learn things

Brisbane city council has said to home owners if they’re with air bnb their yearly rates for services will double, the rental market is so tight because of air bnb .

In 2015 I stayed for a week in NY and I could only afford an Airbnb. The hotels I could find for the same price looked abandoned. For people on a budget Airbnb is great, cheaper than a hotel. It's no wonder why people choose them over hotels.

I really don't understand why landlords who decided to give up long term letting in favour of short term have been refunded, they made a decision but they didn't face the consequences. That said Airbnb is a really useful service but at the same time the reduction in long term rents is a major problem, I am curious to see how it will be solved

It was my first time stayed in Airbnb in this October when I returned to Mississauga Ontario; unfortunately, I was scammed by the Airbnb host and guest, they set me up and booked a room under my account . When I realized that it was a scam and I reported this accident to Airbnb support team, but nobody were able to help me to get my money back. Ever since then I've lost my trust and confidence with Airbnb and have promised myself would never ever stay in Airbnb anymore!!!

I have stayed in airbnb that were cleaner than some hotel rooms.

It's a shame. Air B&B was such a good idea at first. But the moment someone decided to rent out their house while they were away or use it for landlording it went to Hell.

lol my Airbnb host in new York tried to borrow money from me to pay for her tuition!! she claimed that I would be getting my money back because her bf was rich!! hahaha 😂 I was like, if you have a rich bf, get him to pay for your tuition

Another well researched, high quality video. Well done and keep them coming!