Argentina has been like this for a very long time. I studied abroad there in 2019 and it was exactly the same. I believe one of the reasons Brian Armstrong started Coinbase was because he saw how devastating inflation was to Argentina’s economy. Argentina was at one point a top 20 country in the world wealth wise and has obviously gone very down hill. It’s too bad, a lot of talented tech workers there.
For some reason, I just feel this price is too high for them and that it will fall in the coming 2-3 months. Then again, I think about their business model and there’s a lot to like: the don’t own any real estate and if they really wanted to, they could likely let go most of their staff and have a team of maybe 60 - 100 people run the bussiness as it mostly revolves around simply managing the app and keeping it running. I’m curious how “Moated” their bussiness will turn out to be. I don’t really see competition will cut in that much as Airbnb has such an head start and established brand. The only big question I have left is legality. My family works in the hotel bussiness and is required to do fire alarm checks and all sorts of other checks to prove that he is safe to customers. Will Airbnb one day be required to do this? Only time will tell.