Tax Officer: Gentlemen, make your case for a bailout.
Airbnb: I am asset-light, I do not own properties; I deserve support to continue to serve our members via our apps.
Hilton Hotels: I own lands and properties across America; every big city mayor feels my impacts.
Tax Officer: Airbnb, we do not bail out apps; Hilton, text me your account number.
Political leaders must work hard to ensure that all companies can thrive, post Covid-19. But one thing they must not do is being played by digital startups (like aggregators in video below) which have preached the sermons of asset-light, only evolving now to claim they misspoke. Consistency is very important in markets.
With a steep decline in business due to the coronavirus pandemic, Airbnb is asking the federal government to provide financial support and tax breaks for its hosts.
First reported by ThinkPol.ca, Airbnb’s letter addressed to deputy prime minister Chrystia Freeland dated March 17stated the cost of the COVID-19 pandemic to the travel industry is akin to the Sept. 11 attacks, and “among the most vulnerable are non-traditional workers,” such as their hosts who hold more than 170,000 properties across the country.
Post Covid-19 will bring the age of evolution where Uber drivers become Uber “non independents” and Airbnb hosts the same, flipping the old-age sermon of asset-light.