The Future of Ownership: Having More, Owning Less

General Motors (GM) will begin testing a car-sharing program that will allow owners of GM vehicles to rent out their cars when not in use. Cars today sit unused 95% of the time according to The Economist. By putting their cars on GM’s Maven platform, car owners will be able to share the rental revenue that GM collects. GM’s Maven unit already rents out its own vehicles through services like Zipcar and also lends cars to Uber and Lyft drivers. Facilitating a peer-to-peer sharing service would allow GM access to more rental vehicles and establish an additional stream of revenue without owning and maintaining more cars. With its move away from its business model as an automobile manufacturer and toward that of mobility provider, GM may do for their vehicle owners what Airbnb has done for homeowners. General Motors may exit the industrial economy and enter the sharing economy.

 

GM’s self-driving unit, Cruise Automation, has developed driverless Chevrolet Bolts with an application that converts them to robo-taxis in a ride-hailing fleet. Last September, Daimler AG of Germany and SK Holdings of South Korea led a financing round for Turo, another company which allows car owners to list and rent their vehicles. Toyota Motors (TM) bought into car sharer Getaround last year. Elon Musk, writing about Tesla’s intention for self driving cars said, “You will also be able to add your car the Tesla shared fleet just by tapping a button on the Tesla phone app.” Musk continued, “This dramatically lowers the true cost of ownership to the point where almost anyone could own a Tesla.”

 

Owning a car in the 21st century may become as antiquated as owning a horse became in the 20th century. In the next decade, 80% of vehicle sales will be to fleet management companies rather than individual consumers according to Jaime Moreno, CEO of Mormedi, a strategic design consultancy. “You don’t need to own cars to live in the city anymore,” Mr. Moreno said in reference to car subscription programs like Porsche Passport and Book by Cadillac.

 

But it is not just traditional family cars that are being shared. Anything that can be described digitally—apartments, office space, equipment—can be “tokenized” on a distributed ledger and shared securely through a smart contract mechanism. ShareRing, a start-up on the scene intends to be the “Amazon of the sharing economy.” With its custom application, ShareRing will enable access to any asset available to rent, borrow or share, anywhere in the world. Its distributed ledger—ShareLedger—creates a “dual-token” mechanism. One token—SharePay (SHRP)—is the base currency that allows users to pay each other for the use of tokenized assets. The other—ShareToken (SHR)—is the “digital utility token” to be written to ShareLedger and traded like other cryptocurrencies. This allows blockchain rental agreements for shared assets to be based upon a stable cryptocurrency.

 

ShareRing has one significant advantage over its car-sharing competition. In 2013 Tim Bos, the ShareRing Chief Executive, launched Keaz, a telematics platform for car-sharing companies that now realizes revenue of over $200,000 per month. Behind Mr. Bos’s leadership, ShareRing has raised $3.8 million from its Pre-Token Sharing Event. BYD Auto of China, the world’s largest maker of electric vehicles, will be a foundation customer for ShareRing.

 

Mobike, a Chinese dockless bike-sharing start-up, is considering expansion into car-sharing by leveraging its experience partnering with local governments. The yellow bikes of Ofo, another Chinese bike-sharing firm, number over 10 million in 200 cities worldwide. Ofo bikes need not be returned to a docking station, but can be left anywhere at the end of the rider’s route, because the bikes are locked and unlocked with a smart-phone payment application. Mobike, whose bikes are orange-and silver, insists that their business is so healthy that if they stopped their expansion today, “their balance sheets would be a sea of black.” Beyond dependence upon rental revenue, Ofo and Mobike could in time turn their bike networks into data generators. Their bikes are tracked by satellite, so they could indicate the relative popularity of shopping and dining destinations. Fairbike, a Dutch designer, intends to incorporate blockchain technology and smart contracts into bike-sharing. By establishing each bicycle as an individual identity, a Fairbike can't be stolen, because it owns itself.

 

But bicycle sharing was once a radical idea and an illegal practice. “The first bicycles were freed on July 28th, 1965 according to The Economist. Provo, a Dutch anarchist group, proclaimed on posted flyers, “The asphalt terror of the motorized bourgeoisie has lasted long enough.” Provo painted three black bicycles white and left them unlocked on the street. The police impounded the bikes, and then whacked the Provo leader with a truncheon during his arrest for painting another bike white.

 

But cars and bikes are just the start of the sharing economy. Many farmers in Africa walk for a week to take a single cow to market and accept whatever price is offered. Moovr, an Uber for cows, hopes to connect truck drivers with these farmers. Nairobi does not have an ambulance dispatch system. Flare, an Uber for ambulances, uses a smart-phone application for dispatch, much like cab-hailing companies link with riders. Lifebank intends to deliver blood to cities without blood banks. Nigerian entrepreneurs are proposing a tractor-sharing service, while a Kenyan group wants to link idle trucks with goods to be shipped. “The really cool thing about what we’re doing is that it is cloud-based and smart-phone driven,” says Caitlin Dolkart, a co-founder of Flare. James Middleton, co-founder of Moovr, sums up the sharing economy in Africa: “Just as Africans skipped past fixed phone lines straight to mobile phones, they can skip past owning a vehicle straight to the shared economy.”

General Motors (GM) will begin testing a car-sharing program that will allow owners of GM vehicles to rent out their cars when not in use. Cars today sit unused 95% of the time according to The Economist. By putting their cars on GM’s Maven platform, car owners will be able to share the rental revenue that GM collects. GM’s Maven unit already rents out its own vehicles through services like Zipcar and also lends cars to Uber and Lyft drivers. Facilitating a peer-to-peer sharing service would allow GM access to more rental vehicles and establish an additional stream of revenue without owning and maintaining more cars. With its move away from its business model as an automobile manufacturer and toward that of mobility provider, GM may do for their vehicle owners what Airbnb has done for homeowners. General Motors may exit the industrial economy and enter the sharing economy.

 

GM’s self-driving unit, Cruise Automation, has developed driverless Chevrolet Bolts with an application that converts them to robo-taxis in a ride-hailing fleet. Last September, Daimler AG of Germany and SK Holdings of South Korea led a financing round for Turo, another company which allows car owners to list and rent their vehicles. Toyota Motors (TM) bought into car sharer Getaround last year. Elon Musk, writing about Tesla’s intention for self driving cars said, “You will also be able to add your car the Tesla shared fleet just by tapping a button on the Tesla phone app.” Musk continued, “This dramatically lowers the true cost of ownership to the point where almost anyone could own a Tesla.”

 

Owning a car in the 21st century may become as antiquated as owning a horse became in the 20th century. In the next decade, 80% of vehicle sales will be to fleet management companies rather than individual consumers according to Jaime Moreno, CEO of Mormedi, a strategic design consultancy. “You don’t need to own cars to live in the city anymore,” Mr. Moreno said in reference to car subscription programs like Porsche Passport and Book by Cadillac.

 

But it is not just traditional family cars that are being shared. Anything that can be described digitally—apartments, office space, equipment—can be “tokenized” on a distributed ledger and shared securely through a smart contract mechanism. ShareRing, a start-up on the scene intends to be the “Amazon of the sharing economy.” With its custom application, ShareRing will enable access to any asset available to rent, borrow or share, anywhere in the world. Its distributed ledger—ShareLedger—creates a “dual-token” mechanism. One token—SharePay (SHRP)—is the base currency that allows users to pay each other for the use of tokenized assets. The other—ShareToken (SHR)—is the “digital utility token” to be written to ShareLedger and traded like other cryptocurrencies. This allows blockchain rental agreements for shared assets to be based upon a stable cryptocurrency.

 

ShareRing has one significant advantage over its car-sharing competition. In 2013 Tim Bos, the ShareRing Chief Executive, launched Keaz, a telematics platform for car-sharing companies that now realizes revenue of over $200,000 per month. Behind Mr. Bos’s leadership, ShareRing has raised $3.8 million from its Pre-Token Sharing Event. BYD Auto of China, the world’s largest maker of electric vehicles, will be a foundation customer for ShareRing.

 

Mobike, a Chinese dockless bike-sharing start-up, is considering expansion into car-sharing by leveraging its experience partnering with local governments. The yellow bikes of Ofo, another Chinese bike-sharing firm, number over 10 million in 200 cities worldwide. Ofo bikes need not be returned to a docking station, but can be left anywhere at the end of the rider’s route, because the bikes are locked and unlocked with a smart-phone payment application. Mobike, whose bikes are orange-and silver, insists that their business is so healthy that if they stopped their expansion today, “their balance sheets would be a sea of black.” Beyond dependence upon rental revenue, Ofo and Mobike could in time turn their bike networks into data generators. Their bikes are tracked by satellite, so they could indicate the relative popularity of shopping and dining destinations. Fairbike, a Dutch designer, intends to incorporate blockchain technology and smart contracts into bike-sharing. By establishing each bicycle as an individual identity, a Fairbike can't be stolen, because it owns itself.

 

But bicycle sharing was once a radical idea and an illegal practice. “The first bicycles were freed on July 28th, 1965 according to The Economist. Provo, a Dutch anarchist group, proclaimed on posted flyers, “The asphalt terror of the motorized bourgeoisie has lasted long enough.” Provo painted three black bicycles white and left them unlocked on the street. The police impounded the bikes, and then whacked the Provo leader with a truncheon during his arrest for painting another bike white.

 

But cars and bikes are just the start of the sharing economy. Many farmers in Africa walk for a week to take a single cow to market and accept whatever price is offered. Moovr, an Uber for cows, hopes to connect truck drivers with these farmers. Nairobi does not have an ambulance dispatch system. Flare, an Uber for ambulances, uses a smart-phone application for dispatch, much like cab-hailing companies link with riders. Lifebank intends to deliver blood to cities without blood banks. Nigerian entrepreneurs are proposing a tractor-sharing service, while a Kenyan group wants to link idle trucks with goods to be shipped. “The really cool thing about what we’re doing is that it is cloud-based and smart-phone driven,” says Caitlin Dolkart, a co-founder of Flare. James Middleton, co-founder of Moovr, sums up the sharing economy in Africa: “Just as Africans skipped past fixed phone lines straight to mobile phones, they can skip past owning a vehicle straight to the shared economy.”

 

Comments

any_mouse HRH of Aquitaine 2.0 Tue, 03/20/2018 - 14:20 Permalink

Because everyone treats rental cars as if they were their own vehicle.

A day at the beach. Sand. Fast food. Alcohol.

A weekend camping trip. Dirt, pine needles. Trash. Alcohol.

How high will it go hill topping?

Will it drift?

Spin turns?

Does GM cover liability and collision while the vehicle is rented?

Uber Rent a Car. Car owner has all of the liability and cost of ownership for a pittance of the revenue.

Peak something or other.

Not much longer to go until the Shoe Event Horizon.

In reply to by HRH of Aquitaine 2.0

roddy6667 HRH of Aquitaine 2.0 Tue, 03/20/2018 - 14:56 Permalink

Nobody comes to your house or uses keys. This is how things were done 100 years ago. They system works just like Zip cars, except that you own the car. It is rented, unlocked and locked, paid for and located by a phone app. You don't keep the car at your house. You block out the times you want to use the car so it is not available to other users. This gives you the pluses of owning a car at a much lower cost to you.

We have that already here in China.It works fine and is growing fast. Do you really need to own a car that sits idle for 22 or 23 hours a day?

In reply to by HRH of Aquitaine 2.0

roddy6667 roddy6667 Wed, 03/21/2018 - 04:10 Permalink

This is a business you run that lowers the cost of owning a car. If you are the type of person who believes their car is an extension of themselves, it is not for you. If you need a car to virtue signal certain values to convince yourself and others that you are a certain kind of person, this is not for you.

If a car is a machine that provides transportation from point A to point B and you want to pay less for that transportation, it may interest you.

In reply to by roddy6667

new game roddy6667 Wed, 03/21/2018 - 06:08 Permalink

then the business model sucks! call it what you want. i don't share well. people suck and don't take care of stuff like i do.

i would end up on the short end of this stick-nof fuking happening. health care is a form of sharing risk spread out. fuk that to.

fat slobs are fat slobs. think about some gross fuker getting in my car farting, eating, grimming up the steering wheel and i get in it next? detail the car 104 times a year? right...

In reply to by roddy6667

cheech_wizard DaBard51 Tue, 03/20/2018 - 18:09 Permalink

I knew a guy that had actually stolen a rental car... Even rented it out in his own name. Just never bothered to turn it in. Drove across the country in it.

He was clinically paranoid, and thought his wife was trying to kill him. He assumed the people at Wal-Mart were assassins hired by his wife to kill him. He eventually thought I was trying to kill him. For you people living in Phoenix (which is the last known address I have on him), I feel sorrow for the person his madness causes him to latch onto next.

Standard Disclaimer: He actually said this out loud out of the blue one day in a casual conversation we were having.
"I wish my skull had slots so I could put nickels into it." This was the first time our paths crossed, and the second time was when I gave him bus fare and sent him on his way to Phoenix.

In reply to by DaBard51

DuneCreature VWAndy Tue, 03/20/2018 - 13:51 Permalink

Oh, I don't know. .... The Russians seem to be handy at the hot and 'otherwise' wife rental business. ...... Of course, they tend to be big enough and potentially mean enough to make sure you don't keep her past the rental agreement contact termination date.

I'm sure GM has a similar legal and enforcement staff working on the details of their Share-A-Cart scheme for the peons.

Me thinks FinDude85 here is a shill for the Deep State assholes that want to make sure you die broke and your bank account zeros out just as the last shovel of dirt hits the base of your tombstone. (Assuming (((they))) let you have a marker)

NWO Agenda 21/30 and Beyond types can kiss smelly ass and keep their Technocracy.

Live Hard, We May Need To Start Breeding Horses Again Or Cobble Together Our Own Cars Once The Control Freak Assholes Blow Themselves Up Fighting Over Ownership Of All The Planet Earth's Resources, Die Free

~ DC v8.8

In reply to by VWAndy

DuneCreature VWAndy Tue, 03/20/2018 - 15:27 Permalink

You too?

Yes, I've thought for decades disposable vehicles changed every year for the sake of 'style' and a couple of phony petty 'new features' was a fools errand.

Car bodies that rust out in a scant few years was a beyond stupid way to design practical transportation. ... Engines and drive trains with the half-life of a typical house mouse just as moronic.

You can build much more robust mechanical devices, and proof of that being the B-52 bomber. ... All of them still flying today were built before most of us here were born. .. They are robust and tough, with re-buildable components and easy to work on. .... Even the third generation air-frame mechanics can figure out how to keep them on the flight line (I don't know if the fourth generation will be up to the task however. .. The stupid is getting pretty deep out there anymore).

The A-10 is another aircraft they are going to regret mothballing very soon.

But, I'm getting side tracked.

Yes, we could build much, much better vehicles than we do.

Live Hard, You Know Exactly Why We Don't Build Good Tough Products Too. ............The Likes Of The FinDude85 Greedy Assholes, Die Free

~ DC v8.8

 

In reply to by VWAndy

RedBaron616 DuneCreature Tue, 03/20/2018 - 15:36 Permalink

You can build much more robust mechanical devices . . .but can the average American afford one?

The B-52s are still flying because Uncle Sam has unlimited funds to buy the parts to keep the antiques flying, but it is difficult and pricey because most of the OEMs are long gone and some of the prints go all the way back to at least the 1950s.

In reply to by DuneCreature

DuneCreature RedBaron616 Tue, 03/20/2018 - 18:37 Permalink

Sure people can afford robust vehicles. They are actually CHEAPER.

Without the yearly retooling costs drop like a rock. Materials cost roughly the same or slightly more but standardization more than makes up for that.

One last thing, the manufactures actually spend engineering effort MAKING things break on a predetermined schedule. ... Not that they will EVER admit it or tell you that. ... That info is top secret and covered well by NDAs.

Live Hard, CAD CAM, 3D Printing And New Materials Are At Our Fingertips To Reproduce Any Design We Want x10, Die Free

~ DC v8.8

In reply to by RedBaron616

VWAndy DuneCreature Tue, 03/20/2018 - 17:20 Permalink

 I had the great pleasure to help a friend restore an old Mercedes Unimog 604. What an amazing truck! Simple and robust as can be. Versatile to boot. 

  That is one industry thats been weaponized to shit. Maybe not as bad as the legal industry but yea its a weapon and its pointed at all of us.

 I drawd up a small plane to. Its should almost fly itself naturally like birds fly on instinct.

In reply to by DuneCreature

InnVestuhrr Tue, 03/20/2018 - 12:22 Permalink

IMPOSSIBLE

Here's why:

You "own" the car, rent/loan the car, the car is used to commit crimes and/or damage and/or injuries = you are responsible and will be destroyed financially.

Now how "affordable" was that rented-out car ????

ThorAss Tue, 03/20/2018 - 12:24 Permalink

Let's see. Bad odours, interior damage, exterior damage, mechanical damage, drug residue, extreme ickyness. You could lose not only a chunk of the value of the vehicle, you could lose the whole vehicle due to asset forfeiture. You would have to be a complete Wally to trust total strangers with your car. There already is a workable system for this. It's called car rentals. This idea is not workable.

Hikikomori Tue, 03/20/2018 - 12:52 Permalink

My 82 year old mom makes 2 - 4 trips by car per week.  She belongs to a car rental service, which has a monthly fee.  Cars are located two blocks from her home.  When she uses one, she gets billed based on mileage.  Works out great for her - she has no desire to own a car now.

Expendable Container Tue, 03/20/2018 - 12:52 Permalink

SHAME on Zero Hedge for supporting this doublespeak orwellian article which is actually doing a 'first step' promotion to the evil UN AGENDA 21 - which intents, amongst others, no private property, no cars, no airconditioning, no electric appliances, no beef, no rights, no freedoms etc as its all 'unsustainable'. A world of rules & regulations. It is intended we be permitted to use only public transport or bicycles (a hell realm safetywise and inconvenience wise).

All 'sold' to us as 'a great idea' whilst hiding the real motive of serfdom for a disarmed public by a Zionist World Order. (Not only does the NSA but also Israel has a 'backdoor' into all our computers.)  "AGENDA 21 FOR DUMMIES" https://www.youtube.com/watch?v=TzEEgtOFFlM

AGENDA 21 is a UN globalist slavery plan to be carried out at the Local level (by indoctrinated and rewarded local councils). UN AGENDA 2030 is the plan at the National level and even more tyrannical. Well explained  here:

https://www.naturalnews.com/051058_2030_Agenda_United_Nations_global_en…

Bemused Observer Tue, 03/20/2018 - 13:19 Permalink

Oh please...the sales pitch always says things like "YOU will be able to rent your car out when not in use', and "You will have more freedom and cash flow"...let me tell you how the business model will ACTUALLY work...

You will be informed of the 'Rent your car out" program at the dealership, which will allow you to knock off X amount of dollars off the retail price if you sign up. If you don't, the car will cost you twice as much. YOU won't be renting your car out, THEY will, in return for a one-time discount on the purchase price.

In essence, YOU will be subsidizing your local cab service by providing the vehicles. The car isn't really YOURS, you are just one of the approved users of that vehicle. Eventually they'll write it in the contracts that you keep the car clean, the interior vacuumed and free from odors, the oil changed.

In cities, such a thing might actually be a good plan, if you work out the kinks. City driving tends to be in short bursts, and very goal-oriented, point A to point B...no one goes 'pleasure driving' in Manhattan. Exactly the kind of use that can be well-served by something like this. In the suburbs, and out in the sticks, it's a totally different environment that favors individual transportation over long stretches, where the act of driving itself often becomes part of the experience. Out there, car ownership has a different 'flavor', and the car is seen as more of a personal possession than it is to the city owner, who sees it primarily as transportation. The bland 'sedan' is a city car...the kind available for lease everywhere. Rarely do you see the tricked-out specialty rides of the aficionado cruising up 5th Avenue...that's more of a 'burb's' or country-boy thing.

ToSoft4Truth Tue, 03/20/2018 - 13:27 Permalink

Using the car 5% of the year yields a car lifespan of about 11 years.... 

Using the car 80% of the year will yield a lifespan of about....  12 months?  

 

According to the article:

"Cars today sit unused 95% of the time"

 

According to Consumer Reports:

"the average age of all cars on the road is more than 11 years, up from about eight years in 1995"

besnook Tue, 03/20/2018 - 15:00 Permalink

let's look at the gig industries and jobs, the microhomes, home farming, sustainable living movement is all about. IT'S FUCKING HOW TO LIVE IN POVERTY!!!!!

RedBaron616 Tue, 03/20/2018 - 15:03 Permalink

Oh, sure, let me rent my car out to who-knows-who who is a lot harder on the brakes and gas than I am. Not to mention, gets in an accident. Get is just more Government Motors wish list for Big Government. If you don't have the freedom of your own transportation, Big Government can control you much easier. THAT is what this is all about. I'm not renting any car; I will own a car and it certainly won't be a GM!