We’re changing from a nation of consumers to a nation of renters. The confluence of US and European economic depression, global migration into cities, and exponentially improving technology is causing us to abandon the concept of owning a finite number of things. Instead, we’re now open to paying for partial access to everything.

The impact on business could not be greater. Every single product that can be shared will be shared. Portable assets like DVDs and video games were shared first, but more expensive, less portable assets like houses, cars, jewelry, and laundry machines are next. As technology improves, everything in between (drills, plungers, and inflatable beds) will also be shared, and that sharing will be enabled by the Internet.

If you’re skeptical, look at your own assets. Your virtual assets (music, e-books, online currency by way of points) and the number of subscription services you use (Netflix, cloud-based services) are probably double what you owned and used last year. You paid for collections of 0s and 1s instead of physical products, and often your ownership of those products is contingent on owning hardware to view those products (like your ipod), so you’re effectively borrowing those things. If you’re reading this blog and you live in a city, you probably use Zipcar, a subscription service for access to cars. kamagra medicine

In the near future, businesses that successfully shift from selling to lending will win.