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☆ Airbnb's ongoing battle with hotels for travelers has taken a noticeable turn
  + stars: | 2024-08-13 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, Airbnb said its struggles are tied to consumers spending less, but it's also because they're opting for hotels instead . The big storyPlenty of vacancyiStock; Rebecca Zisser/BIAirbnb took a noticeable step back in its ongoing battle with hotels. But Airbnb's struggles are also a product of travelers opting for hotels instead , writes Business Insider's Dan Latu. The death of the so-called millennial lifestyle subsidy — for which Airbnb was a key player — resulted in consumers rethinking things.
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☆ New York cannabis farms have nowhere to sell a combined 300,000 pounds of weed, valued at $750 million, as delays continue for dispensaries in the state
  + stars: | 2022-11-19 | by ( Jordan Hart | ) www.businessinsider.com   time to read: +3 min
New York cannabis farms are unsure of what to do with a combined 300,000 pounds of weed — valued at $750 million — without open dispensaries to sell the pot. Applicants for legal cannabis retail stores are still waiting to hear back from the state's Cannabis Control Board. An estimated 300,000 pounds of weed are becoming a growing concern for farmers who planted the crop in spring 2021 in hopes of cashing in on the drug's legalization in New York state. The lot is valued at about $750 million based on the average wholesale value of $2,500 per pound, according to Bloomberg. In May, Tremaine Wright, chair of the Cannabis Control Board, said the legal retail licensing process would begin over the summer and sales would begin in late 2022.
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