Create the Market

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In 2007, two roommates in San Francisco could not afford rent. So they put an air mattress in their living room and charged strangers to sleep there during a conference. That idea became Airbnb — a company now valued at over $80 billion, operating in 220 countries, with more than 6 million listings worldwide. Without owning a single hotel. What Airbnb did was not improve hotels or create a better hostel. They created an entirely new market. They challenged a social contract — can we trust strangers to host us? — and proved the answer was yes, if you gave people the right tools. The disruptive lesson: do not just fight for market share. Create market space. If you only play by the rules that already exist, you will always be chasing the leader. When you make new rules, you can be the leader.