Video - Inside the sharing economy: Airbnb fight heats up in NYC

One sign of a disruptive company is when the start-up clashes with the regulatory establishment.

The debate surrounding the legality of Airbnb—the home-sharing start-up that has turned into a global phenomenon—reached New York’s City Hall this week. At a city council oversight hearing Tuesday, groups on both sides argued whether the short-term rental business is good for the region.

Airbnb and advocates argue the rental service has brought in millions in economic activity. “Most of our guests are international—they’re coming and spending money here,” said New York City Airbnb host Lee Thomas.

I was at the city council meeting and testified. It wasn’t pretty.