No one is saying AirBnB shouldn't exist, the problem is it becoming an industry that only benefits people rich enough to buy properties in order to rent them out.
AirBnB was thought of and designed as a way for regular people to make extra cash, not to make fat cats even fatter.
It is a manifestation of the concentration of wealth, City Councils are briefed of the tremendous problem that inequality represents.
Soak the rich baby!
I think AirBnb was also a way to cut the hotels off at the knees, who were overcharging clients. Not unlike Uber, a market pressure to circumvent taxis who also rip up patrons because...they could.
Maybe a little simplistic, but if I were a taxi driver , I would be pissed to see the city do this, and help the hotel industry (who will go back to raising their predatory rates because...they can), when taxis did not get any support from the city.
There needs to be checks and balances, but the business model of AirBnb is a cheaper fare than a hotel, which also aids the condo owner make money. I don't see a problem with that. And I am not an AirBnber, I am a landlord who is at capacity and see the dire need for apartments, daily. A lot of these AirBnB places are going to be super expensive anyways, so not sure how this will help the rental market. The demand for units is insane, and unprecedented