sharing economy

Airbnb framed the legislation as an attack on the city's middle class.

In response, the startup continues to defend the middle class.

55% of Airbnb's users are renting out their entire apartments while they're gone, rather than a single room when they're present, which for most residents is a violation of state law.

But that doesn't mean it's shying away from lower Manhattan.

Millennials—what won't they pay too much for?

"If we ultimately believe there needs to be a cap or some type of additional regulation we'll do that."

Instead, Uber has agreed to submit to a four month traffic study.

"If you are found avoiding busy areas, you will not be eligible for the [$5,000] guarantee."

Both Comptroller Scott Stringer and Brooklyn BP Eric Adams are now pro-Uber.

The City Council could vote on the Uber cap as soon Thursday.