At Amazon we were always building “Minimum Lovable Products” to remind us that people needed to have a positive emotional response to the first evolution.

For any competitor to dislodge AirBnB, it would need to be an order of magnitude better.

And here is the tricky part:

An order of magnitude better for people who don’t have issues with AirBnB today.

People who complain tend to think their experiences are the norm, because they can easily find so many other people complaining. But that it just an outcome of scale. Majority of their customers are most likely using it infrequently and relatively happy with the service.

Outcompeting any service like this takes a lot more than just fixing problems. You need to significantly up the ante on the value generation side as well.