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

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

#41

Post by meesterdude »

rishav_sharan wrote: post #22

I actually do this. I have rented 2 king size beds, a sofa, a 200l fridge, 40 inch led tv, small ac and a dining table for around $120 per month. In return i get complete peace of mind, free maintenance and the ability to update my furniture for no reason other than i want to. I personally am pretty happy with renting most of this stuff but will be buying my own dtuff once i have my own house

Conversely, all of craigslist I bought a leather recliner couch for $50, a 40 inch TV for $250, and a dining table for $125. That's $425/yr vs $1440/yr, and I bought those 3 years ago - which would be $4320 @ $120 * 36 months.

It's a good option for certain lifestyles, but can equally become surprisingly expensive if not manged.

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

#42

Post by theamk »

lscharen wrote: post #20

“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

Not really. Manna is about minimum wage workers suddenly losing all law’s protections and safety nets; and this article focuses on people like “founder of a holistic wellness-focused tech start-up in Los Angeles”

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

#43

Post by QuadrupleA »

Not sure about furniture and clothing, but Joymode sounds interesting - kitchen gadgets, game consoles, VR headsets etc. Things someone might want to try, but could just sit around unused once the initial excitement is over. REI also, for outdoor gear - I've got backpacking stuff that sits in the basement doing nothing most of the year.

It's much easier to acquire things than unacquire them - selling on craigslist, carting things off to goodwill, or lugging them around during a move is a hassle. Being able to just tell a company you're done, and they'll come pick it up, has a definite appeal. Guess it comes down to doing the math on actual costs and disposal/move/recycle effort.

One of my random interests last year was stargazing and astronomy - I bought a cheap telescope because I wasn't sure how long-term interested I'd be, and after a few weeks of heavy use it's been mostly sitting around. Might have been better value to rent a more expensive one while my time & interest were high.

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

#44

Post by arcticbull »

mc32 wrote: post #19
arcticbull wrote: post #18

Earlier quoted context omitted.

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...

Indeed, and the difference with the "craigslist" model is I'm incentivized to keep the value of my goods as high as possible to maximize my return. Rental, I'm incentivized only to keep it in "good enough" shape the owner will take it back. Maybe some sort of value-share program where you get a rebate on your rental fees the better condition you keep your stuff? Aligned interests, and still automated.

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

#45

Post by Retra »

dawhizkid wrote: post #38
mehrdadn wrote: post #27

Earlier quoted context omitted.

Sorry but do you find this ends up being wasteful at all? I don't know how many of/how much these items can be reused, but it feels like it would promote far faster consumption than ownership.

How did you come to that conclusion? The effect is the complete opposite...instead of a lot of people that move frequently (i.e. younger people) and buy/toss a lot of cheap Ikea furniture every year, you rent high end, long-lasting furniture that is delivered/removed for reuse.

When I moved frequently I bought an inflatable bed or cot. I didn't buy a king sized bed and throw it out every two years. That's insane.

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

#46

Post by zwkrt »

theamk wrote: post #42
lscharen wrote: post #20

“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

Not really. Manna is about minimum wage workers suddenly losing all law’s protections and safety nets; and this article focuses on people like “founder of a holistic wellness-focused tech start-up in Los Angeles”

Hire do you think these startups intend to get their hockey stick growth?

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

#47

Post by Bombthecat »

chrisco255 wrote: post #26

Renting an apartment vs owning a house is not necessarily a bad financial move. Depends on a number of factors. For instance, if you anticipate moving within a certain time frame, between closing costs, mortgage fees, commission, etc...it can cost more to own in the first 3-5 years, especially if prices are stagnant. Also, there are hidden costs of home ownership not necessarily factored in for, like repairs, mainten…

Especially in Germany, where there is a new law coming out every five to ten years where you need to isolate your house or build solar or replace your old gas heater etc etc etc. Its all in the name of environment protection. But makes owning a house more of a risk then anything else..

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

#48

Post by Barrin92 »

chrisco255 wrote: post #26

Renting an apartment vs owning a house is not necessarily a bad financial move. Depends on a number of factors. For instance, if you anticipate moving within a certain time frame, between closing costs, mortgage fees, commission, etc...it can cost more to own in the first 3-5 years, especially if prices are stagnant. Also, there are hidden costs of home ownership not necessarily factored in for, like repairs, mainten…

Renting anything really isn't a bad move. There's not much upside to owning something that depreciates in value. Instead of buying a sofa for 2000$ renting one for 50 and putting the rest of your money into some productive financial asset is actually perfectly reasonable.

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

#49

Post by whatshisface »

theamk wrote: post #42
lscharen wrote: post #20

“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

Not really. Manna is about minimum wage workers suddenly losing all law’s protections and safety nets; and this article focuses on people like “founder of a holistic wellness-focused tech start-up in Los Angeles”

These companies don't want to be seen as secondhand shops for poor millennials, they want to be seen as trendy lifestyle outlets for rich people that poor millennials want to emulate. That's branding 101. The reality is something else...

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

#50

Post by outside1234 »

bitcoinmoney wrote: post #32
pembrook wrote: post #11

Earlier quoted context omitted.

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 b…

400k/year doing what?

A lot of things. Remember, this doesn't include their health insurance or a 401k and they will also have to pay self employment tax.
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