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THIRTY-FOUR

LIFE BY SUBSCRIPTION

Want to have it all? You can when you rent it all!

Renting has had a negative astigmatism for a long time because in the past people only rented if they had to. Meaning they only rented if they couldn't buy. But things are changing and in the new world people don't want to buy, they want to rent, be everything and have everything for shorter periods of time as they experience more and more over the years.

The subscription economy is characterized by businesses offering goods and services to customers on a recurring basis, typically for a monthly or annual fee, instead of a one-time purchase. 

Surely, you have noticed there is a shift in consumer behavior; everyone wants to own everything, but they don't have the funds to. Want a Rolex, a Range Rover, or even a $10,000 dress? How about a $10,000,000 home? 

Can't afford any of it? No problem! You can rent it.

Life by subscription is sweeping the consumer market because due to social media and prevalence of luxury being pushed in everyone's face on the daily, everyone wants everything, but not everyone can afford to have it all. That is where the concept of life by subscription was birthed and is thriving.

In a subscription-based world, where you rent everything and own nothing, you can have it all.

Many people, particularly younger generations, are prioritizing experiences and access over the accumulation of possessions. Subscription-based models cater to this desire for flexibility, allowing consumers to try out different products and services without being locked into long-term ownership. This trend is also fueled by the growing demand for convenience and personalization. 

This way of living started on a small scale, such as renting a movie instead of buying it, which at the time was a revolutionary idea, but is soon to take over every industry. Right now, it seems radical that you can rent everything you once had to save up for – why buy a $10,000,000 home when you can just rent it and when you do rent it, you get access to ten of them in a year – as seen with the new program offered by the private residence of the Ritz? 

Transition To Life By Subscription:

Here is a timeline of major shifts and milestones in various industries that demonstrate the concept of moving from an ownership model to a usage model:

1. Netflix: Netflix initially started as a DVD rental-by-mail service, which later transitioned into a video-streaming platform in 2007. It revolutionized the way people consume movies and TV shows, shifting from purchasing physical media to subscribing to an on-demand streaming service.
2. Spotify: Spotify provided access to millions of songs for a monthly subscription fee, transforming the music industry by moving from purchasing individual albums or tracks to a streaming-based model.
3. Uber: When Uber was launched it provided a platform for ride-sharing services that allowed users to request rides through a mobile app. This model disrupted the traditional taxi industry and offered an alternative to personal car ownership for transportation.
4. Airbnb: Airbnb was founded, allowing homeowners to rent out their homes or rooms to travelers on a short-term basis. This platform transformed the way people book accommodations, offering an alternative to hotels and traditional vacation rentals.

The usage model is leveling up as it has become normalized. 

Remember in the beginning of Uber, people thought it was CRAZY to let a stranger pick you up? And now? Yup. Just as we used to not share personal information online because it was crazy to post your personal details, well, now that is life. The usage model has been integrated, and it now has trust. The people, the users, feel comfortable and put trust into the industry. Thus, it grows and evolves. The next level of usage, aka life by design, is coming to luxury: we can expect to see more luxurious products and experiences adopting similar usage-based models, catering to those who value access and opulence over long-term ownership.

These milestones showcase the evolution of various industries towards usage and subscription-based models, providing consumers with increased flexibility, convenience, and access to goods and services without the need for ownership.

Final Stage – Full Transition

What is the final stage of the transition to life by subscription?

No physical objects at all. 

Huh? Yes. Soon you can have a Rolex and a Gwagon and everything you ever dreamed of for pennies on the dollar. 

How? In the new reality, virtual reality, you won't need to own anything. You can simply own an image of it in your new reality.

Before you know it everything you know as a real product will be available as a digital product.

The final stage of transitioning to a life by subscription is marked by a move towards entirely virtual possessions and experiences. With the advent of advanced virtual reality (VR) technologies, individuals will have the ability to access everything they desire through VR goggles, be it in the metaverse or using devices like Apple's AR/VR products, which allow for users to not only reimagine their worlds but improve them. For example, inside of Apple Vision you can place big screen TV’s all over your house without ever needing to buy a TV again. This may not seem like a big deal but this is only the beginning, and before you know it, you will be able to have everything and anything you want inside your new world. You will be able to transform and uplevel everything from your home, to your vehicle, to your wardrobe for pennies on the dollar.

Brands such as BMW are already pioneering virtual stores in the metaverse, enabling users to “own” a BMW for a fraction of the cost. This era heralds a significant shift where the lines between digital and physical products blur, offering access to high-end items like Rolexes and luxury vehicles at a minimal cost. In this virtual reality, ownership is redefined as possessing the image or experience of an item in one's new, digital reality, eliminating the need for physical objects and embodying the ultimate expression of life by subscription.

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