Economics/Class Relations

The death of ownership

May 18, 2023
Hi, Insiders. This is Lisa Ryan, an executive editor on Insider’s audience team. That phone you just bought — are you sure you own it? What about that new car? Companies are using sneaky software, confusing legalese, and onerous subscriptions to take away your ability to actually own the stuff you buy. That’s today’s big story.

 

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THE BIG STORY

Death of ownership

Tyler Le/Insider

 

Companies are radically redefining what it means to “own” something.

As more devices in our lives run on software, manufacturers have started to exert more control over their products — even after the customer has purchased them.

Some companies force customers to use their repair services, disabling the product if customers try to fix it themselves. Others require people to pay for ongoing subscriptions to access what used to be considered basic features of the product.

Companies are just beginning to monetize this control, with dystopian methods and the assistance of America’s unbalanced copyright laws. But there are ways that consumers and policymakers can push back.

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This edition was curated by Lisa Ryan, and edited by Hallam Bullock, Bob Bryan, Shona Ghosh, and J.R. Stacey. Get in touch: insidertoday@insider.com.

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