One more rule written in blood. How much abuse has it taken to reach this point? Incalculable.<p>This is how you do it. Come in as a "disruptor," ignore all the rules the establishment has already learned the hard way, and make shitloads of money for as long as you can without pesky old oversight or constraints.<p>Eventually, you wind up with the same rules the establishment had, if not more. Your catalog gets clogged with cottage enterprises that game your algorithms to steal your customer equity. While you're neck-deep in customer complaints and bad press, you're reduced to a clearinghouse for someone else's business -- little more than a classified ad service. You lose, your customers lose, and -- unless, god forbid, they get organized -- your original suppliers lose. Everyone loses except the scalpers and the scammers. Except now you've run out the competition, and consumers have little other choice.<p>In this example, why use AirBnB when all you get is either a Sonder that is more hassle and no better than a hotel, one of a dozen apartments leased by the same weirdo, a retirement-home-in-waiting in a bland suburb, or a sketchy individual's greasy rathole?<p>In the end, welcome to niche status. You do actually have a unique product (in this case, places for big groups to stay for several days), but the market for that isn't big enough for perpetual "growth," so you're on track to be acquired by a hedge fund, rolled together with your former competitors, soaked with debt, and then put out to pasture. But your founders are long gone, booking corporate speaking engagements between yacht voyages. Some "vice president" decides your labor pool stays cheapest if you disincentivize things like career development. Eventually everything is parceled out altogether. What's left of the value of your brand gets smeared over commodities. "Welcome to AirBnB, powered by Motel 6 (an SV Capital Partners, LLC experience)."