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FMI Public Speaker Series Event
Tomorrow 3.0: The Implications of the Sharing Economy

"Right now, we own stuff. I do, you do, the people across the street who can't get their car in the garage do...we own a ton of stuff. The self-storage industry in the United States has nearly fifty thousand facilities, with more than 15 billion cubic feet of space cluttered with...stuff. But people don't fundamentally want stuff. What they want is the stream of services that stuff provides over time. So if people own stuff—clothes, tools, cars, houses—rather than rent that stuff, it is because owning secures services more reliably and at lower transaction costs than renting. But this "preference" for owning is not real. It might change quickly if entrepreneurs were able to figure out a way to sell reductions in transaction costs...The future will look very different from the past and the present because in the future entrepreneurs will have figured out how to sell reductions in transaction costs. Almost everything we own will soon be a potential rental item, or we won't own it all because we'll rent it from someone else." (Excerpted from 'Tomorrow 3.0 The Sharing Economy', The Independent Review, Vol. 20, No. 3).

Dr. Munger will deliver his remarks on Thursday, April 19, 2018 in the Grand Auditorium (CR 105) of the Rawls College of Business Administration from 5:30-6:30 PM. Please visit the FMI Upcoming Events page for more information about the program.

This event is free and open to all members of the Texas Tech University community and the general public. Visitors to the university may park in Reserved Lot R-23 outside of the Rawls College starting at 5:00 PM.