I think topics like this (definitely Cowan's style) are better left a little more open. The "thing that is happening" is a sort of etherealization of property.

I think topics like this (definitely Cowan's style) are better left a little more open. The "thing that is happening" is a sort of etherealization of property. One underlying cause is that the bits of "property" themselves are digital/ethereal. Books, songs, films... They are no longer physical, and the economic norms around them are changing to reflect that. In conjunction, I think the cultural impact of consuming more digital goods (and probably a million other things) is that people are used to this type of economy. They want the same for their car, bike, etc. I would call uber a step passed renting, or an extreme form renting. Leasing has already been the norm for a while, along with financing that is indistinguishable from leasing. The "handful of corporations" part is... more of a consequence, I think. Etherealization/digitization is proving to be very centralization (or winner-take-most) friendly. There are a bunch of drivers to this though. One big reason is centralization of wealth. Big piles of money need big investments to go into. Uber could raise money on better terms than an "uber-for-aukland," adjusting for scale. $1 of profit/revenue/DAU is simply worth less than 1/100th of $100 in profit, on the "speculative investment" market. I agree on your main points. There is a danger of becoming more of a "rentier" economy. If this trend continues (projecting trends is always speculative) we could end up with more property/wealth in corporate hands, and private individuals will only have liabilities and consumption. The big elephant in this room is the same elephant that stomped through pyramid rooms 5,000 years ago: real estate, or "land" as it was once known. This is the big ticket item, and represents most of the wealth ordinary people own if they own anything. Cars, CDs and such just don't add up to much value, not anymore.