"You Will Own Nothing and Be Happy" Revisited
The Subscription Economy: Convenience at a Cost
In 2016, the World Economic Forum (WEF) envisioned a world where “you’ll own nothing, and you’ll be happy.” The essay painted a picture of a society transformed by technology and the sharing economy, where people rent goods and services instead of owning them. While the essay created discussion about future possibilities, the phrase quickly became the center of debates about consumerism, economic shifts, and societal values.
Nearly a decade later, the world seems to be moving closer to this vision. From media consumption to car ownership, the shift from ownership to access has fundamentally changed how we live, work, and connect with our communities. But is this change really making us happier? What does it mean for the future of community building?
The Rise of Subscription Living
Take a look at your own life. Chances are you aren’t buying movies, albums, or video games. Instead, you’re subscribed to Netflix, Spotify, and Xbox Game Pass, giving you access to large libraries of content. According to a report by Zuora, subscription businesses have grown revenues five times faster than S&P 500 companies over the past decade, showing a seismic shift in consumer behavior.
The automotive industry is also seeing a shift. My uncle, a lifelong mechanic, told me to lease rather than buy a car because modern vehicles are filled with electronics that require specialized expertise and tools to fix.
Even e-commerce is leaning into subscriptions. The U.S. subscription e-commerce market grew 14% between 2022 and 2023, reaching $40 billion in sales. From meal kits to clothing, consumers are choosing convenience and flexibility over ownership.
Implications for Society
While the convenience of subscriptions is undeniable, it could have substantial societal implications. Economically, it’s changing consumer spending. Instead of saving for a down payment on a house or car, people are allocating more of their income to recurring expenses, which will impact their financial resilience in the long term. Living paycheck-to-paycheck has become the norm in the U.S., and the rise of subscriptions further deepens financial constraints by locking people into recurring expenses.
Socially, the decline in ownership erodes ties to local communities. Ownership has historically anchored people to places and provided a sense of stability and belonging. For example, homeowners often have a stronger stake in the well-being of their neighborhoods than renters. If we extend this principle to other aspects of life, such as transportation or even tools and appliances, what happens when everything is temporary and transient?
The risks go beyond the individual level. Communities built on shared ownership or communal resources could face challenges in creating lasting connections if people see themselves as users rather than stakeholders, affecting civic engagement and social cohesion.
What’s Next?
As subscription models continue to expand, what other aspects of life might shift away from ownership? Housing, for one, is already exploring subscription-like arrangements, with co-living spaces offering all-inclusive packages for a monthly fee. Even fashion is moving toward rental models, as companies like Rent the Runway gain traction.
On a larger scale, this trend raises questions about autonomy and control. What happens when the subscription stops coming? When you don’t own the things you rely on, you’re at the mercy of corporations that do. Data privacy concerns, service outages, and shifting terms of use are just a few of the risks that come with a subscription-based lifestyle.
Conclusion
The idea that “you’ll own nothing and be happy” is no longer a distant vision, it’s becoming our reality. While subscription models have changed consumer behavior and offered new conveniences, they also create challenges to personal autonomy, financial stability, and community building.
As we move further into this new era, it’s worth asking: Are we truly happier without ownership? And what steps can we take to ensure that the benefits of this shift don’t come at the expense of our connections to each other and the places we call home?