Thread by @BowTiedMagpie

*A STORY ABOUT IGNORING THE NOISE & THE NAYSAYERS*

When Airbnb was in its infancy I started a business connecting service providers to Airbnb hosts.

Going by the media headlines at that time, you would have thought that was an idiotic idea.

And yet, I persisted.

A thread 👇

FUD was everywhere:

"Government won't let it happen, they will quash Airbnb."

"Why would anyone use Airbnb over hotels."

"Airbnb is for party people, they will trash the place."

"Body corporates won't allow it."

"Local councils won't allow it."

Etc

However,

I knew Airbnb was going to be big for one reason only.

*Incentives*

Owners/hosts could make more money, & have flexibility e.g. rent out only in peak season.

Guests could get bigger/cheaper places, experience new things & stay at places that suited their lifestyle/personality.

Government actually loved it. If you rented your places through Airbnb,. government was collecting more income tax plus tax on cap gains for using the property for business purposes.

Sharing economy also created new and grew existing businesses/ancillary services = tax revenue.

Sounds familiar? Same thing is happening now in crypto with the FUD.

And yet, this too shall pass. The technology, benefits to everyone involved inc. the government far outweigh any drawbacks.

No matter the FUD, if the wind is favourable nothing can stop progress.