I don't see how AirBnB would ever be classified as Lifestyle Business. The intent was never to make a small amount of money at a fixed scale. It was always about huge scale, which is almost always at odds with a Lifestyle Business.
Network Effect yes, Lifestyle Business no.
Further, any given investor would be wise to look at businesses like AirBnB with skepticism from a "can they actually achieve critical mass of users" point of view. Effectively 0% of these types of businesses are unicorns. Unless you personally have special knowledge or are willing to take an extreme risk, it's foolish to invest in these ideas and it amounts to literally buying a lottery ticket.
Network Effect yes, Lifestyle Business no.
Further, any given investor would be wise to look at businesses like AirBnB with skepticism from a "can they actually achieve critical mass of users" point of view. Effectively 0% of these types of businesses are unicorns. Unless you personally have special knowledge or are willing to take an extreme risk, it's foolish to invest in these ideas and it amounts to literally buying a lottery ticket.