The displacement of renters by large-scale operators who turn apartment buildings into de facto hotels has hit urban areas like Greater Los Angeles hard.
This week Capital & Main launches an ongoing project focusing on the broken economics of what is, according to one recent MIT analysis, America’s most expensive state.
Co-published by The American Prospect
Uber? That’s so 2015. A new report finds that we don’t know as much about the sharing economy as we think we do.
Co-published by Fast Company
It’s not easy being nobody, especially when you used to be somebody. But times are tough; jobs are scarce. When you’re falling straight down the financial cliff face, you reach out to grab hold of anything available to stop your descent and there, just before you land in a homeless shelter or move in with your sister, is Uber.
Juan and Manuel Salvador Orozco Cadena, a pair of fishermen from Baja California, Mexico, pushed off from Punta Lobos on the morning of November 4, 2015. Earlier, the Orozcos had repaired the transmission of their outboard motor, but then it broke down again. As night closed in, the brothers floated helplessly in their open panga 30 miles off the Pacific Coast, making intermittent contact by cellphone, before being rescued by the Mexican coast guard.
At the same moment the Orozcos had first pushed off into the sea, Airbnb executives 1,200 miles away were celebrating the defeat of a San Francisco ballot initiative aimed at regulating the short-stay rental titan. What could possibly be the connection between two Mexican fishermen adrift in the ocean and a company valued by Wall Street estimates at $25.5 billion?
The answer is Chip Conley, a good-looking, 55 year-old fit guy with a shaved head and a charismatic smile whose official full-time job is Head of Global Hospitality for Airbnb.