NEWYou can now listen to Fox News articles!
Rep. Alexandria Ocasio-Cortez, D-N.Y., escalated her criticism of billionaires and short-term rental companies as the debate intensified over housing affordability and economic policy.
“Take Airbnb,” Ocasio-Cortez wrote on X. “They heavily lobby politicians against passing housing laws to protect working class residents because it’s bad for their business model.”
The New York Democrat argued the short-term rental giant has expanded by benefiting from housing shortages and displacement in communities across the United States.
“Airbnb could not exist at its current scale and size without the housing market destabilizations, displacements, and exploits that are supercharging the evictions of working people everywhere from Puerto Rico to Jackson Hole,” Ocasio-Cortez said.
AOC CALLED OUT FOR CLAIM THAT BILLIONAIRES ‘CAN’T EARN’ THEIR WEALTH AS SHE DOUBLES DOWN ON REMARKS
The comments came during a public exchange with Paul Graham, a prominent Silicon Valley entrepreneur and co-founder of Y Combinator, over whether billionaires can ethically earn their wealth through innovation and business growth.
“Sure you can earn a billion dollars,” Graham said. “I’ve been teaching people how to do it for 20 years. The way you do it is to start a company that grows fast. You don’t have to do anything bad to make a company grow fast. You just have to make something people want.”
Ocasio-Cortez rejected Graham’s argument, saying rapid corporate growth often depends on accumulating political and market power.
“Someone can certainly make a billion dollars. That’s not the same thing as earning,” Ocasio-Cortez wrote.
SIX DIFFERENT WAYS THAT PROVE THE WEALTHY PAY A LOT MORE THAN THEIR ‘FAIR SHARE’
“Growing fast and disrupting markets also often means chasing and wielding market power, political influence, and scale.”
AOC argued younger Americans are increasingly locked out of homeownership because of investor activity and rising housing costs.
“Now young people are planning for a future where they will never be able to afford to own a home while others have 20 and live off renting it out to them at extortionate rates with zero protections,” Ocasio-Cortez said.
“Yes, a tiny amount of people can make billions of dollars doing that. And millions of everyday Americans are bearing the cost.”
WASHINGTON POST BLASTS RENT CONTROL AS ‘FAILED POLICY’ THAT LEAVES RENTERS ‘WORSE OFF’ THAN BEFORE
The exchange sparked criticism from investors and tech executives who defended Airbnb hosts and the broader startup economy. Michael Seibel, a partner at Y Combinator, argued many Airbnb users are ordinary homeowners attempting to supplement their income.
“The housing in Airbnb isn’t controlled by some ‘evil public corporation’ — it’s controlled by normal citizens trying to pay their bills,” Seibel said.
Ocasio-Cortez later clarified that her criticism was aimed at larger systemic incentives rather than individual property owners.
“It’s not about individual morality,” Ocasio-Cortez said. “It’s about exploiting the landscape.”
Seibel later pushed back again, questioning whether users themselves bear responsibility for Airbnb’s growth and success.
“Why are you ignoring the users of companies?” Seibel said. “Airbnb cannot survive without its users. Are they exploiting the landscape?”
CLICK HERE FOR MORE COVERAGE OF MEDIA AND CULTURE
The issue became contentious in New York City, where officials enacted short-term rental regulations in 2023 that sharply restricted Airbnb operations throughout the city.
Fox News Digital reached out to Rep. Ocasio-Cortez for comment, but did not immediately hear back.
Read the full article here
