AirBnb is not just another billion-dollar Silicon Valley start-up, although with a market value estimated at $30 billion, the company certainly qualifies. No, AirBnB is a disrupter, a company that has caused a fundamental change in the hospitality industry. And like any change, this one has produced winners and losers.
The winners include almost 3,500 people across New Mexico who have turned their spare bedrooms — and second homes — into a source of income. In Santa Fe, for example, there are nearly 1,000 people renting space. In Angel Fire, the average rental is more than $350 per night.
The losers include the tax coffers of the state and local governments that collect a...
Business owners don’t need a degree in accounting, but they do need to know how to read basic financial statements and when to ask the accountants who prepare them to explain what they don’t understand.
