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Welcome to Hochatown, the town created by Airbnb

Economic Times

Economic Times · 1y ago

Welcome to Hochatown, the town created by Airbnb

The tiny town of Hochatown, located in Oklahoma, was created almost entirely thanks to Airbnb. Last year, the residents successfully fought to incorporate the area, which attracts as many as 50,000 visitors on weekends. Before the pandemic, there were around 400 cabins for rent on Airbnb, but now there are over 2,400. This surge in popularity has brought significant tax revenue to the town, but it has also led to challenges such as over-supply and potential pricing pressure for hosts. Nonetheless, Airbnb remains optimistic about the economic benefits brought to small towns through tourism.

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J&K Emerging As New Agritech Startups’ Hub: MoS Jitendra Singh

Inc42 · 1y ago

J&K Emerging As New Agritech Startups’ Hub: MoS Jitendra Singh

Jammu and Kashmir is emerging as a hub for agritech startups in India, with the town of Bhaderwah in the Doda district being the foundation for these initiatives. The region is nationally recognized as the birthplace of the "Purple Revolution" and has inspired other Himalayan states like Uttarakhand, Himachal Pradesh, and Nagaland. Lavender farmers from Bhaderwah have created over 3,000 successful startups, contributing to India's economic growth and PM Modi's vision of a developed India by 2047. The agritech sector in India is projected to have a market opportunity worth $24 billion by 2025, attracting significant investments.

Airbnb acquires AI startup GamePlanner

Economic Times

Economic Times · 1y ago

Airbnb acquires AI startup GamePlanner

Airbnb has acquired GamePlanner.AI, a 12-person startup founded by Adam Cheyer, co-founder of Apple's Siri voice assistant. The deal, reportedly valued at just under $200 million, expands Airbnb's AI capabilities with GamePlanner.AI's technology. Airbnb CEO Brian Chesky highlighted the transformative impact of AI, and the acquisition aligns with the trend among travel companies, including Booking and Expedia, to integrate AI for enhanced customer experiences and itinerary suggestions. Airbnb did not disclose specific details of the acquisition.

Australian court fines Airbnb $10 million for misleading accommodation pricing

Economic Times

Economic Times · 1y ago

Australian court fines Airbnb $10 million for misleading accommodation pricing

The Australian Federal Court has ordered Airbnb to pay a total of A$30 million ($20.2 million) in penalties and compensation after admitting to misleading consumers on accommodation pricing. Between January 2018 and August 2021, Airbnb Ireland misled consumers by displaying prices in US dollars without clarifying that prices were not in the local currency. This resulted in customers being charged more than expected and deprived of an informed decision-making process. Airbnb has apologized for the issue and worked with the Australian Competition & Consumer Commission (ACCC) throughout the process.

Airbnb agrees to pay $621 million to settle a tax dispute in Italy

Economic Times

Economic Times · 1y ago

Airbnb agrees to pay $621 million to settle a tax dispute in Italy

Short-term rental platform Airbnb has agreed to pay 576 million euros ($621 million) to settle a tax dispute in Italy. The settlement comes after Italian prosecutors claimed that Airbnb owed approximately 779 million euros ($840 million) in unpaid short-term rental taxes. However, Airbnb has stated that it will not seek to recover the money from its hosts. The company is also working on implementing tools for hosts to have their taxes automatically withheld and paid to the Italian tax authorities. Italy is an important market for Airbnb, with many hosts using the platform to rent their properties.

Airbnb entices hosts with discounted EV chargers

The Verge

The Verge · 1y ago

Airbnb entices hosts with discounted EV chargers

Airbnb is teaming up with ChargePoint to offer hosts discounted options for purchasing and managing home EV chargers. Hosts can buy the charging packages through a dedicated online store, with prices starting at $399 and discounts of up to 36% on select ChargePoint models. Airbnb has seen a growing demand for rentals with EV charging equipment, with searches for EV chargers increasing by over 80% from 2022 to 2023. Listings with chargers are also booked for more nights and generate higher income. To further appeal to guests, Airbnb has introduced a listing editor for hosts to easily add amenities like EV charging stations.

Airbnb Bans All Indoor Security Cameras

Wired · 1y ago

Airbnb Bans All Indoor Security Cameras

Airbnb has announced that it will ban hosts from using indoor security cameras to watch their guests. Previously, Airbnb had allowed hosts to install cameras in common areas with the requirement of disclosure. However, hidden cameras have been a concern for guests, leading to privacy issues. Following the rule change, hosts will have to remove indoor cameras and disclose any outdoor monitoring devices before guests book. Airbnb will enforce this policy and penalize violators. The company aims to prioritize safety and privacy for its users.

Airbnb asks New York City to reconsider regulations on short-term rentals

Economic Times

Economic Times · 11m ago

Airbnb asks New York City to reconsider regulations on short-term rentals

Airbnb has asked New York City to reconsider its regulations on short-term rentals, claiming that they have resulted in higher prices for travelers without making any impact on the housing market. The company argues that local law LL18, requiring hosts to be permanent occupants of the units they rent out and register with the city, has failed to address the housing crisis effectively. Airbnb states that the number of listings allowing stays under 30 nights has dropped by 83% since the law's implementation, but the vacancy rates for apartments in the city remain unchanged. The company also points out that hotel rates in New York City have increased more compared to the rest of the U.S. By rolling back parts of the law, Airbnb believes the city can boost accommodation supply, support hosts, and benefit local businesses reliant on tourism revenue.

Airbnb CEO Brian Chesky plans to fix ‘fundamentally broken’ company. Here's how

Livemint

Livemint · 1y ago

Airbnb CEO Brian Chesky plans to fix ‘fundamentally broken’ company. Here's how

Airbnb CEO Brian Chesky is working on fixing the core issues of the company in response to recent challenges. The improvements are focused on addressing pain points for guests, including affordability, customer service, and listing verification. Chesky acknowledges that Airbnb needs to prioritize fixing its foundation before creating new features. The company is using AI for quality control, such as verifying listings and preventing unauthorized house parties. Chesky hints at upcoming developments, including a loyalty program, and discusses the future of Airbnb in New York. The CEO believes that the company is nearing a turnaround and promises more updates in the future.

Navigating the Airbnb Debate: Insights for Founders

Internet

Internet · 7m ago

Navigating the Airbnb Debate: Insights for Founders

Sam Altman discusses the ongoing conflict between Airbnb and San Francisco politicians, who blame the platform for rising housing costs. He reflects on Airbnb's origins as a solution for affordable housing, highlighting that many hosts rely on their earnings to cover rent and mortgages. Despite claims that Airbnb exacerbates the housing crisis, data shows that only a small percentage of units are rented through the platform. Altman argues that the real issue lies in insufficient housing supply and urges policymakers to focus on increasing construction rather than scapegoating innovative solutions like Airbnb, which can benefit both hosts and visitors.

Honda successfully launched and landed its own reusable rocket

The Verge

The Verge · 1m ago

Honda successfully launched and landed its own reusable rocket

Honda's research and development subsidiary successfully launched and landed a reusable rocket, reaching an altitude of 890 feet and landing within 14 inches of its target. This achievement marks Honda's first successful rocket landing. The test took place in Taiki Town, Japan, a location developed as a "space town" with public and private partnerships. While still in the research phase, Honda aims for a suborbital flight by 2029 to support its growing satellite needs.

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