The steady advance of technology is making ownership of assets less attractive and economic growth ever harder to measure.
"Teenagers don't really want to own anything," Christian Lanng, chief executive of business-to-business software company Tradeshift, said at the Credit Suisse Asian Investment Conference last week.
"American teenagers don't want cars. It's not on their top-10 list of things they want when they turn 18 for the first time in 30 years," he said, citing conversations with a car company. "Why own a car when I have an Uber app and I can get a car in three minutes? It's a very silly thing to own," he added, noting that most cars spend about 94 percent of their time parked.
How to measure?
But doing away with materialism and an ownership model isn't just tough for automakers -- there's no added value for the sale of a manufactured good to measure for gross domestic product (GDP) or worker productivity.