A short monologue by Adam Sand arguing that consumer behavior is shifting from ownership to renting, describing this as a major wealth transfer. He cites examples like ride-sharing, Airbnb-like lodging, Facebook displacing news publishers, Netflix disrupting media, and public interest in Bitcoin to illustrate changing ownership norms.
So we're dealing with the greatest wealth transfer in human history. We're turning from a nation of owners into a nation of renters. And you can see that in our consumer buying behavior. If you look at all of this, what is the common thread? If you told people 20 years ago that you were going to get into some stranger's car and then you were going to ride to some stranger's house where you were going to pay them money to sleep in their basement, you would have. People would have said, you're insane. Facebook took out all the major news publishers and created this huge content aggregation platform. And everybody. If I asked them if you could go back 20 years and tell yourself one thing, the answer is always the same. There's going to be this thing called bitcoin, and you should buy 10 of them. Who would have thought about Netflix, right? And this guy's trying to change everything. So your customer is buying things differently. You're no different.
