Make Europe Great Again - Starting from Tourism and Data Sovereignty
#95 Angelinvesting.it - From idea to Series A - Weekly Newsletter
Dear Reader,
Many Europeans, almost without noticing, pay a tax to Airbnb every time they go on vacation. Not a government tax that funds public services - but a private tax that flows to Silicon Valley. Tourists pay it when booking. Property owners pay it through reduced rental income.
I believe we can and must change this status quo. But first, let me share how I came to this realization...
Recently, I attended a wedding in Florence and booked via Airbnb. Soon I caught myself thinking: how is it possible that I, an Italian, am going on holiday in Italy, staying in an Italian house owned by another Italian, but sending my money to America? What the fuck!
How Did We Get Here?
It started in the 90s, when the internet transformed our world into a vast digital village. Like any village, it needed marketplaces where buyers could meet sellers - but at an unprecedented scale.
This led to the birth of digital platforms: eBay for goods, Skyscanner for flights, Airbnb for vacation homes, Booking for hotels. American entrepreneurs, backed by venture capital, brilliantly capitalized on this opportunity.
But there's a hidden paradox in this model - one that becomes intolerable once you notice it. In an era where information can flow freely and without cost, these marketplaces charge a toll for accessing information that sellers want to share freely.
The End of a Romantic Era
In the world of Clinton and Obama, when we dreamed of globalization and saw it happen before our eyes, this quite weird arrangement (Europeans paying American companies to access European properties) had its social-philosophical foundation. America or Europe, who cares, we're all human beings - that's globalization, baby.
It was a romantic philosophy that I once believed in, but one that hasn't stood the test of time. In today's world of resurgent nationalism, what logical foundation remains for two Italians having to pay Americans just to go on vacation in Tuscany?
Europe needs to keep up with the times and stand up for its citizens. This means helping their citizens valorize their assets and properties, and - equally important - maintaining control of tourism, a sector that is both relevant and strategic.
The good news is: this goal is achievable.
The Solution: OpenTourism
The answer lies in three simple but powerful steps:
Collect the Data - Create a national registry of all short-term rental properties. Simple, transparent, verified.
Make Data Accessible - Build a public API that makes this registry available to everyone. When information flows freely, monopolies crumble.
Let Market Forces Work - Enable anyone to build platforms using this open data. Watch as competition drives innovation up and fees down.
Beyond Tourism
This isn't just about vacation rentals. It's about recognizing that many US tech monopolies stand on feet of clay. Their power often relies on controlling access to information that should be public.
Europe can pioneer this change. By embracing transparency and true free markets, we can rebuild sectors where artificial barriers have created unnecessary costs for our citizens.
The Colosseum stands in Rome. The Uffizi adorns Florence. Our cultural heritage remains firmly European. It's time our digital infrastructure reflected this reality.
Have a great weekend.
Go build something extraordinary.
Simone
P.S. Airbnb's average fees are roughly 15%. Beyond discovery, marketplaces like Airbnb are important for enabling trust, insurance, and customer support. I am not advocating for them to disappear, but I believe if data becomes available and competition flourishes, the 15% could drop to 5%. This would mean billions of euros staying in European citizens' pockets.
So true! We Europeans need to wake up! Investing and risking more is our only chance!
Wow Simone, great post!