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by jakelarkin 2678 days ago
financial illiteracy is a real problem in journalism. You can't really judge how egregious/successful these guys were without knowing the annualized NET revenue of this business.
1 comments

I'm sure that will be a hot topic during the trial
And we don't even know if those numbers have been released to the public yet. (they probably haven't since expenses take a while to compile, whereas deposits into a bank account are easy to count)

Eevenue is a useful measurement of how large the operation was.

There is some information about profit in the article:

>The rent for one apartment was $3,225, but it was on Airbnb for $250 a night. Hypothetically, Mr. Beckman could cover a month’s rent by filling it with tourists for about two weeks. In just a few months, Mr. Beckman had booked more than 500 guests and generated about $84,000 from the building at 78 East 119th Street, according to the city’s lawsuit.