David Rosenthal: belief

Transcript context

…I don't know how that's decided, so I shouldn’t bet on it. I think it's worth making the point that Uber is condemned as this massively evil company and yet created a way for millions of people to earn a living. Airbnb is extolled as a wonderful brand that had many hosts around the world ring a bell and create a nice video to open the IPO this morning. That's largely consistent with their brand, and yet there's a lot of potential value to it. What this comes down to—and I don't know that they would have seen various parts of it—who's this playing on the platform? I think for people that own their homes, that live in the homes, that are renting them out—either renting them out while they live there to help with income, or renting them out while they're on vacation. It's hard to see much value destruction from that. They live there, they would live there anyway. This is helping them make money. Where this gets really different and gray is property managers and people taking housing stock off the platform purely to become hotels, essentially. Yup, well put.…

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