The Google generation is fascinating. Children growing up in an age with unlimited access to information at the end of their fingertips. Have a question about sex? Ask google. Forgot to do your homework? Copy and paste Wikipedia.
Its incredible to believe that only twenty years ago none of this was possible. You needed to own books, actually ask real people uncomfortable questions and unless your friend let you copy their work you were screwed if you didn’t do it.
In 2014 I wrote on the massive impact of streaming services such as Netflix and Spotify were having on the power of consumers and disrupting the economy through the digital world. Since then, Uber and Air BnB have further changed the game in the subscription economy, Instagram and Snapchat have become the social currency and more and more people have traded the onerous obligations of ownership for the ease of subscription and service.
The video attached above documents how this massive shift in power from industry to consumer marks the end of the ownership economy and the beginning of the subscription economy.
Young people these days don’t dream of buying a house and a car and working for a big investment bank. They dream of travelling the world, spending on experiences rather than materials and sharing the photos online for the world to see.
Where will this lead us? It has the potential to be as detrimental as it has to be phenomenal. There’s something intimate about owning a physical book or a physical Vinyl record – preserving memories of a time. A place. And a feeling. Subscription on the other hand is highly perishable, its gluttonous, and digital storage is not as familiar as a physical item.
What do you think?