The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
As both a host and a guest through Airbnb, I know the impact that the sharing economy is having on the local communities served by this amazing organization. Last year I spent 3 weeks on the island of Kauai, a trip that I would not otherwise be able to afford without Airbnb. Everyday on the island I was eating out and exploring the different tourist offerings. I spent at least $3000 in that time, and that doesn't include the payout sent to my host, who undoubtedly spends his disposable income locally. Hotels may claim that this type of trip takes money from their industry, but let me assure you that this trip would never have happened without reasonably affordable lodging. The money given to my host will also better preserve the local culture on that island, in a more significant way than any payout to the hotel chains, who by and large, do not care about culture as much as they care about profits for their company. This is simply a matter of fact, and not an indictment of the hotel industry. As a host, I know that my guests spend a great deal of money in Hermosa Beach, and when I receive a payout, my income also gets pumped into the local economy. Please tell me there is a single downside to this arrangement, and I will gladly hear it. Thank you for your time and consideration.