The man who co-created the legendary club Studio 54 built a massive luxury hotel that’s trying to kill Airbnb. PUBLIC, created by hotelier Ian Schrager, is a luxury 367-room hotel in New York’s Lower East Side where rooms sell at $150/night, so to keep costs to the minimum so it has fewer staff than a regular hotel.

In this Business Insider video, Schrager discusses how the only way to defeat a new idea is with another new idea.

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