I know you were being glib here and not completely serious but I'm still going to respond to the general sentiment.
Every day we do take risks by stepping out the front door, however the communities we belong to institute safeguards to help mitigate these numerous risks. We hire police officers, firemen, and construct hospitals. Living in these communities is not free, we pay taxes to support this.
AirBnB is a virtual community that also collects taxes: 3% to be exact. However, they do nothing but mitigate the risks of funds transfer, and in other cases increase the risk by handcuffing attempts at vetting.
So, yes, while I do face these horrible possibilities every day I know that the communities I belong to are attempting to minimize them -- can you honestly say that about AirBnB's community?
You're right about the financial expected value, but I think you might be disregarding the trust aspect of the transaction, which I think was why Airbnb was so successful. Buying into the brand reinforces a particularly optimistic world view that people who are likely to use Airbnb enjoy.
Plus, when you are giving your key to another person, the risk is not just monetary, but the additional emotional risk of just being violated. I think it was very telling that EJ was particularly betrayed by the lies in the ongoing email updates and not just the monetary loss.
Exactly. People (including myself who used the service) felt that it was more legit than Craigslist when in fact, they have the same financial protection.
But a nutter having your key is just a minor detail if entry is desired; and with AirBnB at least you get a cash reward for your risk.