Hello, welcome to your extra morning news show.

My name is Philip DeFranco,

and today we're going to be talking about the home rental revolution

and why so many cities are fighting to stop it.

And it all starts with the growth of the sharing economy,

which has just absolutely exploded over the past 10 years.

In the last decade we've seen companies like Lift, Task Rabbit, Lending Club, and Poshmark disrupting industries

ranging from taxis and temp services to banks and clothing stores.

And while each of these apps provide different things,

they all have a similar philosophy.

Allow ordinary people to monetize their goods and services by directly

connecting them to consumers.

In fact, according to Price Waterhouse Coopers, the sharing economy

could reach $335 billion in global revenue by 2025.

And to give you an idea of how big that is, that's more than Amazon, Disney, and Coca-Cola's 2018 revenue combined.

And other than Uber, there's been one sharing economy company that has been far more successful than any other.

AirB&B turned crashing on a friend's couch into a more sophisticated business.

On one side, big hotels, room prices skyrocketing.

The challenger, companies like Airbnb

that offer short-term rentals typically

at a fraction of the price are booming.

More people are using Airbnb to stay in cities all over the world.

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