While I'm sure airbnb accelerated the process, when I visited Venice a decade ago I rented a flat owned by somebody who lived on the mainland. It had been his grandmother's residence, but he had been renting it out to tourists for years at that point.
One of the result is less and less “true” residents. That’s what is happening with airbnb, where some people prefer to move away and dedicate their appart to tourism, even if it’s only for part of the year.
Or restaurants and other services used by everyone get tourism focused, and while money flows in, quality of life goes down.
I think that’s one case where money doesn’t solve the issue (provided it’s an issue to solve, some might argue)