seemed to be how the consumer had deemphasized ownership. Instead of focusing on ownership, consumers seemed to prefer sharing or renting. From luxury watches to clothing, experiencing, not owning, assets seemed to be on the rise. Citing a more experiential$-$based economy, Chesky believed Airbb guests desired a community and a closer relationship with the host.

Nevertheless, local and national hotel and motel operators criticized Airbb for what they claimed were unfair $($and$,$ potentially illegal$)$ business practices stemming from its business model and were lobbying local, state, and federal government agencies to force the company's renters to comply with the same tax, rental, and lodging regulations with which they were forced to comply, including taxation of revenues, fire codes and occupancy limits$,$ laws to prevent discrimination, laws covering the sale of alcohol, and others.

Based on the information provided, which of the following is NOT a type of macro$-$factor that supported the launch of Airbnb or is influencing Airbnb's business in $2016?$

o Technological

o Environmental

o Socio$-$cultural

o Legal and regulatory

o Economic