As the Democrats meet in Philadelphia this week to nominate Hillary Clinton for President, there is an undercurrent of distrust for disruptive technologies like Uber and Airbnb. While Airbnb estimated that over 5k people would utilize their service this week for the Democratic National Convention, Senator Elizabeth Warren (D-Mass) recently called on the Federal Trade Commission to probe Airbnb-type rentals. A letter to the FTC that she-co-authored, said “We are concerned that short-term rentals may be exacerbating housing shortages and driving up the cost of housing in our communities.” Meanwhile Airbnb is hoping to earn goodwill from the party through a panel discussion, advertising and a party co-hosted with BET. All of this comes under the shadow of the millennial demographic who overwhelmingly support and use many aspects of the sharing economy – Uber, Lyft, Airbnb, etc.
“It’s a typical case of politicians targeting a beautifully disruptive industry in order to defend the status quo. Overregulation is destroying growth in the U.S. by discouraging innovators from even starting companies.” (Newsmax)
Further reading:
Elizabeth Warren urges probe of Airbnb-type rentals, Reuters, 7/14/16
Why Are ‘Progressives’ Fighting Against Uber and Airbnb?, Investors Business Daily, 7/26/16
Airbnb Hopes to Win Political Favor in Philadelphia, Travel & Leisure, 7/26/16
Democrats Want to Take Down Airbnb, Newsmax, 7/26/16
Airbnb and Uber to Democrats: You Need Us, Bloomberg, 7/26/16
