Why you’ll own nothing by 2030, not even your pets / Money Magazine

Imagine a world where you didn’t own “stuff”, but instead chose to rent or share everything with your community. That includes your car, kitchen utensils, caravan, space and even your pets. Welcome to the future, with experts predicting that by 2030 we will become an “asset light” society.

“We have now become an experiential society,” says Morris Miselowski, an Australian business futurist.

“Whilst post-war baby boomers saw value in the assets they owned, Millennials are putting more value on new experiences to boost happiness over owning assets.

“This is due to the rising cost of living and also, along with the rest of society, we now have more choice than previous generations.”

Centuries ago before monetisation, communities would trade their assets and services to survive,  Miselowski says.

This concept has been revived in modern day with the rapidly growing sharing economy or, what some might know as the gig economy.

Still in its infancy, the sharing economy is already worth $2.6 billion helping 92,400 people make an income in NSW alone.

“Already we are seeing a massive change in the way we consume,” says Steve Orenstein, co-founder of The Sharing Hub, Australia’s first sharing economy accelerator.

“Traditionally we have been a consumerist society that’s about passive consumption; however individuals are now being empowered to make and save money through the sharing economy.”

With Uber and Airbnb paving the way for the sharing economy in Australia, there are some homegrown platforms that have become increasingly popular in Australia.

“Pet sharing platforms like Mad Paws, that connects pet sitters and dog walkers with pet owners, has become a popular way for people to make money, while owners can seek more affordable care. Also Zoom2u is another ‘service’ sharing economy where instead of couriering people, you can deliver parcels to make up to $2000 a week,” says Orenstein.

With space coming at a premium, it has also become a tradable commodity with Spacer.com.au helping Australians to make money off their spare garage, driveway and attic, along with Camplify, that is also helping people make money by renting out their idle caravan, motorhome and campervan so Australians can enjoy more affordable road trips.

The future, what’s next? 

With more Australians choosing to share to become more efficient, culturally over the next 12 years this is set to evolve. This includes the start of us living in multi-generational homes, more of us becoming digital nomads and becoming citizens of the world.

“Centuries ago families would live in multi-generational homes. With the cost of living rising, homes will soon be built to home different generations, so grandparents, children and grandchildren all live under one roof. This will also include a working area, as more of us don’t see the need to commute to work, saves costs and is more convenient,” Miselowski says.

Part of this experiential society is based on happiness.

This includes instead of being stuck at a desk, more of us working in environments that suit our personal preferences to boost productivity.

Mainly only civil servants will need to have 9 – 5 jobs in the future, while more of us work flexible hours to become citizens of the world, where we own less to live more.

10 ways the world will have changed by 2031 / live on Hong Kong 3, ABC WA, ABC FNQ

Gen A’s (born 2002 – 2025) beginning Prep this week, will finish high school in 2031 and emerge into a world that will be so different to today’s that they might as well be living on Mars (and they might be).

In this weeks on air segments I chatted about 10 significant ways the world will have changed by 2031, and what we can do now to get them, ourselves and our businesses ready for the very near world ahead:

  1. Gen A won’t use technology, they will BE technology – tech will be so ordinary, ubiquitous and built into every surface and object that we will speak to it, play with it, and engage with it as if it were another human being and just like today where we pay no attention to the miracles of electricity and gas, tech will be the same just there with us more interested in what it can it do for us, then what it is.
  2. Gen A’s mission will be to create seamless lives – moving between one activity, action, adventure, purchaser or activity will soon be barrier free. Discovery,  Selection, Purchase / Engagement / Use and interaction all occur effortlessly across a myriad of spaces and places as all barriers, hurdles and hiccups seemingly melt away.
  3. Gen A’s will hold employers to ransom as they negotiate for their worth – working 9-5 will have all but disappeared, instead task oriented activities will abound, each paying / costing different amounts, each contributing to a person’s overall income, each requiring negotiation, agreement and sequencing, much of it done by AI.
  4. Gen A’s won’t buy, they’ll shop – routine purchases will be exactly that, routine, completed in the background without any human interaction, but the thrill of the chase, the finding of the unusual and the sport of human shopping will not disappear, so for all things unusual or just for a fun few hours with friends, we’ll still head off to visit our favourite bricks and mortar shop or mall.
  5. Gen A won’t pay for things, they will pay for what things dothe days of owning things as the only way of getting to use them will have long gone, instead we will pay for the end experience through digital contracts that monitor our usage and charge accordingly
  6. Gen A’s won’t own homes, but will have ready access to multiple houses– long-term house leases, new breeds of timeshare and crowd-shared short-term accommodation will be the norm as we grapple to find enough space to cram in our growing population.
  7. Gen A’s won’t own cars, but will be extremely mobile – car ownership is set to fall over the next decade and even the lure of driverless cars won’t be enough to entice many to own a car, instead we will apply a mobility approach, where transport ,appropriate to our immediate needs, self assembles, delivering cars to our doorstep, bikes to our paths, buses to our journey and walking routes for the last metres, all seamlessly orchestrated for us by our technology and the intimate unique knowledge of where we need to be and when and how we prefer to do it.
  8. Gen A’s won’t die of diseases of the body, but rather of the mind – many of today’s incurable diseases of the body will be tamed or better managed over the next few decades, allowing our body to live on to 100 and beyond, but the lesser researched and explored medical areas effecting the brain – dementia, Parkinson’s and others – will become more prevalent and it will take more research, effort and time to understand and manage these.
  9. Gen A’s will live to see the 22nd century – wonder what they’ll see and do and how antiquated what we do today will seem in 2118.
  10. Gen A’s will, by proportion, be the smallest cohort generation we have ever seen – world birth rates will begin to decline over the next decades and Gen A will be the first cohort whose parents don’t need to or want to have multiple children to ensure survival of the family, by the end of the 21st century it is believed that 80% of the world population will be considered “middle class’ and have readier access to work, food, water, sanitation and ongoing education.

It’s a fascinating world ahead and Gen A will need to create it much of it, as they re-imagine what living, being, having, owning, loving and thinking is in the latter 2/3 of the 21st century.

Take a listen now to and then I’d love to hear about your dreams, foresight’s and fears of 2031 and beyond.

ABC Far North Qld – 22nd January 2018 (7 mins 46 secs)

Hong Kong Radio 3 – 16th January 2018 (15 mins 50 secs)

ABC WA Drive – 15th January 2018 (6 mins 50 secs)