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Owning nothing is now a luxury, thanks to a number of subscription startups

nytimes.com

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Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#11

Post by pembrook »

whatshisface wrote: post #5

This seems dangerous, like people are going to spend 100% of their paycheck every month and get everything taken away from them if they go a week without a job.

Or on the flipside, I've got some contractor/consulting buddies who regularly pull down $200/hr bouncing between Tech companies in the Bay Area and Seattle and big banks in NYC.

Not owning anything allows you to go where the work is and keep your net worth in assets that produce actual income (like index funds and bonds), instead of sitting around collecting unemployment during a dry spell because you're encumbered by your depreciating assets.

I'm sure some people will use this as a way to temporarily live beyond their means...but it's not like Credit Cards don't enable this behavior already. The US is the land of the free of course, where we allow the weak to be preyed upon.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#12

Post by m463 »

whatshisface wrote: post #5

This seems dangerous, like people are going to spend 100% of their paycheck every month and get everything taken away from them if they go a week without a job.

On the other hand, what about people with lots of credit card debt?

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#13

Post by iscrewyou »

anbop wrote: post #6
mherdeg wrote: post #2

If the business model for CaaStle does not work out, but I can accurately predict when they will go out of business, should I sign up to rent a bunch of stuff that month and hope I get to keep it after the shutdown?

Sure, but don’t underestimate the appetite of VCs to keep funding these businesses, leaving you renting a lamp for $20/month or whatever.

And after they extract a $100 for the lamp, sure, you can keep it if we go under.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#14

Post by jfoster »

whatshisface wrote: post #5

This seems dangerous, like people are going to spend 100% of their paycheck every month and get everything taken away from them if they go a week without a job.

It's actually not that different than before. Clothes wear, smartphones get outdated, people are already used to renting their home & car, etc.

There's not many things you only ever buy one of.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#15

Post by RickJWagner »

"Many young American urbanites have resigned themselves to a life of non-ownership, abandoning the dream of their parents and grandparents and great-grandparents before them, often out of financial necessity. But renting isn’t just a matter of necessity these days. It’s become almost posh."

They're doing it wrong.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#16

Post by mc32 »

jfoster wrote: post #14
whatshisface wrote: post #5

This seems dangerous, like people are going to spend 100% of their paycheck every month and get everything taken away from them if they go a week without a job.

It's actually not that different than before. Clothes wear, smartphones get outdated, people are already used to renting their home & car, etc. There's not many things you only ever buy one of.

I guess, but it makes things even more disposable, more consumerist. More detrimental to the environment.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#17

Post by rhexs »

m463 wrote: post #10

This might be more interesting if there was more competition and prices were more inline with the cost of purchasing. It might be I don't understand the costs though. Is renting furniture or clothing like leasing a car, or is it more expensive (or less expensive)?

A decent couch from crate and barrel probably goes for 800-1200 or so. At 50/month for a couch, you’d pay the cost to buy it outright in two years. It would also be interesting to see what they charge for any stains/damage. Is “normal wear and tear” a thing or do they use the landlords definition of “anything I think I can get away with”.

Math looks a bit better if you do long distance moves constantly.

Not a frugal option in any sense, but if you have plenty of disposable income and value minimalism and simple moves, sure, why not.

Edit - Couch pricing a bit off (looks like they’re around 1500-2000, but I doubt they’re renting things at that quality and I’m sure furniture has some fantastic bulk pricing) Probably paid off in 2.5/3 years of renting.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#18

Post by arcticbull »

mc32 wrote: post #16
jfoster wrote: post #14

Earlier quoted context omitted.

It's actually not that different than before. Clothes wear, smartphones get outdated, people are already used to renting their home & car, etc. There's not many things you only ever buy one of.

I guess, but it makes things even more disposable, more consumerist. More detrimental to the environment.

I could make a case for the opposite -- consumers tend to buy something new at the store then throw it out a couple of years later. I can imagine these types of companies buying more durable goods so they can rent them out to multiple people back to back instead. I see it as almost automating the craigslist model.

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#19

Post by mc32 »

arcticbull wrote: post #18
mc32 wrote: post #16

Earlier quoted context omitted.

I guess, but it makes things even more disposable, more consumerist. More detrimental to the environment.

I could make a case for the opposite -- consumers tend to buy something new at the store then throw it out a couple of years later. I can imagine these types of companies buying more durable goods so they can rent them out to multiple people back to back instead. I see it as almost automating the craigslist model.

Time will tell, of course.

You might be right... but I’m pessimistic here. Renters and leasees take less good care of the items they let or rent. The clothes will have a faster velocity to the waste dump, etc. manufacturers and purveyors will cater to this increased velocity...

People are worried about drinking straws. Imagine all the new plastic items to cater to this new usage pattern...

Re: Owning nothing is now a luxury, thanks to a number of subscription startups

#20

Post by lscharen »

“It is quite likely that, when you lived in America, you leased everything. You never owned anything, but someone else did and you had to pay for every single thing you used. That's another form of resource ownership that concentrates wealth.”

   — Manna, Chapter 5
   — https://marshallbrain.com/manna1.htm
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