Their customer service is HORRENDOUS. I Think it’s also mostly because they outsource to countries were the people, even though they might mean well, have absolutely no idea what customer service means or have a very different concept of it (which is just to apologies without really practically solving the problem or making things right. Their making things right is just being polite and apologizing).
But AirBnB knows this. They make exorbitant amount of money yet offer shi**y service. Why hasn’t another company taken over yet?
Because in order to make something like Airbnb, you need to get a lot of hosts and guests. Hosts won’t sign up unless there are guests and guests won’t sign up unless there are hosts.
These kinds of marketplaces are very difficult to get any traction.
1st mover advantage
No. It’s the network effect.
No the network effect is what makes it difficult, the first mover advantage is what makes it near impossible for a competitor to compete, here.
If there’s nothing, the platform can start to exist without strong network and grow.
But if there is a paltform with the network, why would anyone use a different network?