It sure looks like a bubble.
Maybe not the entire stock market, but consider this: Airbnb, an Internet middleman that connects travelers and people with rooms to rent, was recently valued at more than $10 billion.
That’s an impressive price tag for a company that’s “a lot like a hotel chain without the hotels,” as Jay Ritter, a business professor at the University of Florida, succinctly put it. Airbnb has few fixed costs and plenty of room to grow, he said, and it could end up dominating its field. Still, at $10 billion, Airbnb would be worth more than the entire Hyatt hotel chain.
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