CB Insights recently published an article entitled “Terrible Startup Ideas”. It included the following less-than-great ideas: Personal CRM, Curated news recommendations, Personal trainer marketplaces, What are my friends up to apps, To-do list tools, and
Thanks, Doug, for the cite. Actually, though, I write that Airbnb is one of the very few good ideas I have seen for a sharing-economy platform. Unlike Uber or Lyft, it doesn't have to rely on two-sided subsidies to operate (supply and demand sides), which means it does not lose more money the bigger it gets. And it can charge BOTH sides of the market, unlike most other platforms. Airbnb's problem recently has been the pandemic and competition from conventional hotels. Still, the overnight stay business is not a great (highly profitable) business, so the profit Airbnb can earn is very limited compared to pure automated digital services platforms or software companies -- I think.
Thanks, Doug, for the cite. Actually, though, I write that Airbnb is one of the very few good ideas I have seen for a sharing-economy platform. Unlike Uber or Lyft, it doesn't have to rely on two-sided subsidies to operate (supply and demand sides), which means it does not lose more money the bigger it gets. And it can charge BOTH sides of the market, unlike most other platforms. Airbnb's problem recently has been the pandemic and competition from conventional hotels. Still, the overnight stay business is not a great (highly profitable) business, so the profit Airbnb can earn is very limited compared to pure automated digital services platforms or software companies -- I think.
Thanks for the clarification Michael.