This interview with Air BnB’s Chip Conley has some interesting insights for crowdsource sites. Here are some of his insights:
On government involvement:
For Airbnb, we’ve needed to engage our hosts and guests to have a voice in how legislators look at regulating short-term rentals. In many places including San Jose and San Francisco, this type of citizen advocacy has led to new laws that allow homesharing. The key is to be vocal with your local elected representatives as many of these legislators have no idea how much support there is for the sharing economy.
On how companies can be successful:
For a sharing economy company to have a chance of succeeding, there needs to be the potential for a sizable marketplace utilizing slack resources that people previously hadn’t valued and the existing set of competitors need to be ripe for disruption by the fact that they’re not providing a great value proposition.
On why hotels shouldn’t be afraid of Air BnB:
For example, for every $1 spent with Airbnb, only 5 cents of it is coming from what would have gone to hotels.