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82 U. Chi. L. Rev. Dialogue 103 (2015-2016)
Airbnb: A Case Study in Occupancy Regulation and Taxation

handle is hein.journals/uchidial82 and id is 103 raw text is: Airbnb: A Case Study in Occupancy Regulation and Taxation Roberta A. Kaplant & Michael L. Nadlertt INTRODUCTION Six years after its founding, Airbnb stands as one of the most prominent participants in the sharing economy, a group that includes compatriots such as Uber and Lyft. These compa- nies offer a variety of Internet-based platforms and applications that create new ways for people to share goods and services with one another on a previously unimaginable scale.i They also act like virtual matchmakers by lowering transaction costs and fa- cilitating arrangements that might otherwise have been too burdensome. Doing so has vast potential to benefit consumers by encouraging collaborative consumption of assets like cars and homes that are expensive to purchase but often remain idle be- cause their owners cannot make full use of them.2 Although these companies are still in their nascent stages, they are grow- ing rapidly, and their collective revenue was estimated to be in excess of $3.5 billion last year.3 Sharing-economy companies offer a wide variety of services but are united by three common traits. First, they rely on recent technological advances to satisfy age-old consumer demands in ways not previously possible.4 Second, they exist in and parallel to a wide variety of well-established industries that are funda- mentally disrupted by the sharing economy's emergent ability to t Litigation partner, Paul, Weiss, Rifkind, Wharton & Garrison LLP. tt Litigation associate, Paul, Weiss, Rifkind, Wharton & Garrison LLP. Although the authors have represented Airbnb in litigation matters, the views ex- pressed here are their own and do not represent those of Airbnb. I See Roberta A. Kaplan, Regulation and the Sharing Economy (NY L J July 18, 2014), online at http://www.newyorklawjournal.com/id=1202663656633/Regulation-and-the -Sharing-Economy (visited Feb 23, 2015). 2 See Peer-to-Peer Rental: The Rise of the Sharing Economy, Economist 9 (Mar 9, 2013); Matthew Mitchell, Uber, Airbnb, and Letting the Sharing Economy Thrive (US News & World Rep Apr 15, 2014), online at http://www.usnews.com/opinion/economic -intelligence/2014/04/15/uber-airbnb-and-letting-the-sharing-economy-thrive (visited Feb 23, 2015). 3 Tomio Geron, The Share Economy, 191 Forbes 58, 60 (Feb 11, 2013). 4 See Mitchell, Uber, Airbnb (cited in note 2). 103

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