New York Rejects Free Market Innovation, Passes Law Killing Airbnb


Sometimes the crony capitalism is subtle. Sometimes it is obvious. This is one of those obvious times.

I have to say that I spent a week in Brooklyn a few years ago in an Airbnb place and it was great. But I guess I won’t be staying in Hipsterville again anytime soon.

(From TownHall)

Governor Andrew Cuomo once again reminded us that liberal government means a government that rejects innovation in the marketplace. After complaints from union groups and hoteliers, the liberal governorsigned a law placing a fine of up to $7,500 on anyone who uses a home sharing site to advertise a short-term rental apartment – essentially killing the operation of Airbnb.

The reasoning for the legislation is based on debunked myths purported by hotel groups. They claim Airbnb is fostering an environment where real estate owners can potentially buy up entire properties and then operate “illegal hotels” by using room-sharing services.

The problem with this argument is that it simply isn’t true – and couldn’t be according to Airbnb’s own concessions to New York legislators.

Seriously, what is wrong with the legislators in New York?

Click here for the article.