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> they don't solve the inefficiencies in the existing industry

I disagree. To use some examples given in the original article: how about a guest being able to rent a room in a neighborhood that doesn't have any hotels? Or a host being able to earn money renting out an apartment that would otherwise sit empty?

Which is not to say that your other points about pricing and risk are not valid, of course.

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Sometimes, but we don't know why there aren't rooms in those neighborhoods, or apartments sitting empty. If it's a genuine attempt to remove inefficiency, thats one thing, but an attempt to "beat the system"(the first part of sentence that talks about the empty rooms and location) may circumvent legitimate rules. For example HOA rules about subletting.

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