Flock somehow stumbled into a business model that both the left and right politically-leaning groups in the US can join together in hating. That's not easy to do!
It's going to be difficult saying no in other situations where the surface product of the business isn't hated by left or right groups in the US. I hope people don't need that strength.
This article takes the view of the consumer, "Why do so many people pay to store items they almost never use?". But in actuality, the interesting part of this is why is there so much supply of self-storage businesses?
The answer is: cash flow. Self-storage businesses are the almost perfect solution for someone with a good size (but not enormous) bucket of money that they want to put to work generating cashflow:
1. Cheap build out (cheap land, cheap facilities)
2. Almost entirely hands-off (no employees, automated entry)
3. Low liability (low risk of customers suing you)
4. Low overhead (just pay for taxes, electricity, minimal maintenance)
5. Reliable monthly cash flow
The abundant supply of these businesses, I suspect, tends to generate demand: it's easier to pay $80/month to store your junk than spend the time and emotional labor of picking through what you want to keep and what you want to get rid of. That ends up being captive long-term revenue.
You are missing the biggest benefit of a self storage business - the appreciation of the underlying real estate. When you dig into the financials of the major self storage businesses you'll see they are essentially REITs that have better cashflow. They can pick an up-and-coming area, do a minimal build-out with low annual overhead, and then down the road when the facility would be needing overhauls and maintenance the underlying property has typically appreciated so much that it dwarfs all other associated revenue streams and makes sense to sell and raze the existing structure. Great business model if you have a long enough timeline.
This is also why some startups trying to revolutionize the self storage model had extreme headwinds - if you are renting the underlying properties and trying to make the storage business profitable you are at an extreme disadvantage to the larger players who can subsidize operating costs with portfolio appreciation.
This same concept is also true of McDonalds historically - they own the land, lease it to franchisees, and realize the appreciation themselves. McDonalds are fairly economically valuable, so the capital gains by the time they're cleared and resold as development often dwarfs the value of the franchise fees.
The whole reason why the Catholic Church doesn't allow priests to be married anymore was because it used to be that the individual churches were mostly the property of the priest, and would be passed down generationally (with some restrictions). The church phased in the ban on marriage so that over time, the churches would all in up in the estate of a priest with no heirs, where they'd become the property more formally of the Catholic Church proper. Today the Catholic Church is the single largest landowner in the world, with about 170 million acres.
More recent religious organizations have taken note of that, with LDS owning about 2.4M acres.
Your comment dragged me into a rabbit hole, which is always a welcome surprise.
From my readings, one can always debate whether this reason for celibacy is whole or not (of course, more holy reasons were given, like purity of the ritual among others), but avoiding inheritance from father to sons was certainly a big factor. By barring heirs from the equation, it solved the whole dispute over inheritance. Yet, when it comes to clerical office and priesthood, "property" is not quite right, since it's mostly about usufruct and benefices, moreso. Which can be significant assets, that goes without saying, hence the Church did everything it could, for holy and not-so-holy-reasons, that traditional generational transmission does not apply. No next generation, no problem.
Quite importantly to the Roman Catholic Church, they wanted to avoid dynasties of priests that would grow in importance and out of their control, so they did whatever they could (ban marriage and fatherhood) so that a mis-aligned priest would only be a temporary nuisance to the Institution.
A lot went into this short burst of investigation, like the fact that early Churches were private property of land-owners, building churches for indulgences and power, reinforcing their ties with the Church, and I may dig deeper. Thanks for your comment again, if you have some references you recommend, I'd appreciate you share them!
I don't understand what you mean. Do you mean I or the GP used LLMs?
If you mean I did, yes, I have, to begin with, to get an overview and links. But to do any of the reading or to write my comment? No. What's wrong with that?
That does not sound correct. Priests in Eastern rite Catholic churches get married, but they do not own the land in which their parish chirch stands and they do not pass that land on to their children. Note that the Catholic Church itself does not own that land, either. As I understand it, in most cases the parish land is owned by a Catholic episcopal See or eparchia, as in Latin rite Catholic Churches, in which the diocese owns the land.
Cashflow from renting to a franchisee must be fantastic. You pick the locations and the decor. If the business does well you prosper, but if the business does poorly you're insulated from the downside, the rent is due either way! If the franchisee can't hack it you repossess the building and rent it to some other suc^H^H^Hfranchisee.
It's actually hilarious sometimes. The business models that generate most scorn and incredulity on HN are the straightforward ones. They convert labor pretty much directly to a very basic product with a clear demand by society, that can't possibly be profitable, are we sure it's not actually a front for Real Estate or AI or Tax Evasion?
I'm sure real estate is the primary business model of McDonald's but franchisees wouldn't be paying the rent and fees if the restaurant model itself wasn't very profitable.
Most restaurants in Europe generate an average of 250k in net cash flow per average restaurant, that's few years of work before ROI.
It's very easy to lose money running a McDonald's (or any restaurant) if you do not keep a very close eye on all your controllable expenses. Most franchisees need multiple stores to cover all the overhead and actually be profitable.
McDonalds's Corp, the landlord, is in a better position but they also don't want to see stores fail, it's bad for their image.
They don't have to ever sell the properties. Property can be assessed by a third party and then function as collateral against a low-interest loan, which is real money.
Not that I think McDonald's will ever really find themselves in a pinch, but if they did, they would additionally be able to liquidate selected properties for cash. When you are rich enough, the promise of having money in the future is just as good as actually having money. It doesn't work like that for most of us, but that's the nature of risk assessment in finance.
Still looks good enough on financial statements if you’re ig enough to care about them, and it makes for great collateral in the process of buying the next one.
Did I say that? Since they failed, they were obviously bad business. But they were a rational thing to attempt to do - taking on a massive loan to speculate on land and using a (potentially) high cashflow, quick to setup, easy to market business to offset the high initial interest rates. i.e. the same thing being discussed in this thread
FWIW “Gambit” without elaboration strongly invokes the “the bankrupcies were on purpose” to me, so, did you say it? Strictly no, but it was very suggestive.
AFAIK, Trump used investor money and rented his brand - he would have upside if the business succeeded, but had no downside for him - he was paid anyway.
As for the suckˆHˆHˆHˆHinvestors, they had a bad day.
Eh. I wanted to be provocative because I've heard a lot of educated but economically naive people assume 'highly leveraged hotel-casino project' is dumb a priori, even though it's (an example of a) a sensible and common business strategy available to the wealthy. I didn't mean to imply bankruptcy was intentional though.
As to whether Trump did this better or worse than others, I have no idea as I haven't studied it but would assume the latter given the outcome.
A certainty though - plenty of undeserving people you would consider contemptible have successfully played this hand many a time. Yet more reasons to tax land
A rational thing for a competent person to attempt. Given the theoretical structural advantages of the idea, the 6 failures are even more embarrassing than failing at something that was actually a bad idea.
Well it's not like it didn't work out very well for Trump. Idk if it's 4D Chess but a huge part of the expense that lead to bankruptcy was licencing of the Trump brand. Can't pay all the other vendors because we first had to pay to license the name. OK, bankruptcy.
That's the answer, it's a way to squat on land. Another way I know of is a golf course. It's more maintenance but it's a way to generate some cash to offset property taxes and then wait for a decade or two and sell.
I had an acquaintance who had a couple of driving ranges for golf for that exact purpose. He said it kept the property taxes lower than if he had built nothing on them. His only goal was to be break-even until he sold.
Yeah, came here to post something similar. I used to hang around in real estate circles, and two businesses come up often: Self storage and car wash. These are two things people just can't get enough of.
(Car wash usage doesn't go down even during a recession, apparently).
There's aesthetic reasons (I'm proud of my car, I like it to look nice), and practical reasons (Leaving mud, grit, salt etc, will wear and corrode my car faster).
Where I live, summer rain doesn't really clean the car (if that's what you care about), and in the winter you are shortening your cars life by years if you don't try and get the salt off regularly.
When I bought my 8 year old car, it was from the Midwest and the mechanic I asked to check it out said "Don't buy - it's got a good amount of rust because of the salt they use". I asked whether it means the car is less safe. He said "No, just more repairs and potentially costlier repairs. I said "Over the remaining life of the car, how much extra would it cost?" In today's dollars, the answer was $2000.
I bought the car. It easily lasted another 7 years before it died in a collision.
My car prior was a purely Midwest car, and I rarely washed it. It happily lasted 16 years. I passed it on to someone else, and he used it for a few more years.
I'm 62, and grew up near Detroit. I remember cars developing major rust holes after just a few years. The rusting also affected the inside of the engine compartment, and it did make repairs more difficult. There was an industry of aftermarket rustproofing shops, that were a scam. Every teenager with a car (which was still rare) learned how to patch rust holes with Bondo.
My first car, the frame rusted out and had to be welded back together.
Toyota and Honda put a stop to that. They did a number of things: Better steel alloys, better coatings, painting the bodywork before it could start rusting, eliminating places in the body where water could accumulate, etc.
Today, you rarely see totally rusted out cars on the road.
The bodies are better, but I can assure you, the frames and suspension parts are not. They still rust out here in the salt belt after 10-15 years, depending on the brand and how often you drive them. If Michigan instituted mandatory annual car inspections, it would take about half the (still working, not unsafe) cars off the road.
Yeah my wife and I inherited her parents' Highlander from Boston when they moved back to their home country. The drive shaft literally fell out on the road because the brackets holding it on rusted out. Was lucky I had enough momentum to pull over.
The old days the cars would rust and take the frame with it (I've literally had them get so bad they basically folded up) - modern vehicles will stay pretty darn decent until the first time the paint gets broken, then it'll begin - but the unibody usually lasts quite a long time.
I live in New York, which is heavy handed with salt. Paints and alloys are better, but there’s basically a 250k and about 10 year lifespan for a car that lives upstate.
The frame, exhaust and suspension generally get corroded and start to fail. You see a lot of 200k Civics and Accords, but few 250k.
You really notice it when traveling to California. Last time I was in SFO with my son, he counted 78 Porsche 911s and about 100 “old” (80s or older) cars on the roads.
No, I watch video of cars coming into the shop and the models from the Midwest are usually in pretty rough shape due to all the corrosion from the salt on the roads. And brand doesn't seem to matter.
I've always lived in the midwest. Every car I've ever owned has been a car from the midwest, and has been driven in the midwest.
The salt from the road is driven by car tires into a briny mist that coats everything. It blocks vision through windows. It accumulates in chunks that can be kicked (like mud also can, except corrosive). It wicks its way into tiny crevices and betwixt layers and infects every part of the car that can be infected, and once there it rots everything that it can rot.
And I don't mean just the bodywork; that part has been getting better with improved processes and paint.
But stamped control arms often rust away while the ball joints and bushings are still in good form. Electrical connections rot. Frames and frame-like components often have scaly holes in them. Every exposed engine part corrodes; uncoated steel turns black, red, or brown; galvanized and aluminum parts turn white and kind of fuzzy (and stuck). Our junkyards are full of rusted-out hulks of cars with drivetrains that still work properly, even if they're ugly.
Fixing things when they break is tedious and time-consuming, and the most-sane approach to any repair on a car that's more than a few years old is to go into it with an expectation everything that doesn't crumble from rust is instead frozen with rust.
The work itself unilaterally causes a person a learn new facets of their verbal and mechanical vocabulary that they never even knew possible, and is arduous in ways that would test the emotional stamina of a Buddhist monk.
With enough cleaning and care (and just rinsing things off by driving in the rain), a car that is from the midwest can be largely saved. Getting rid of all of the salt slows the process down very dramatically.
But a car that is regularly driven in the midwestern winter is in the midst of a fairly quick process of being returned to the earth.
It's just a fact that is plain and that we live with every day. We do work to prevent it; on a warm-ish day in January, cars will line up around the block to get into a car wash and have a chance to dry out before ice freezes every orifice closed.
But it's not fear, I don't think. Just as we accept the sun coming up every day and disappearing over the opposite horizon every night, we accept the rot as something that will inevitably consume the most expensive machine that we own and that this will happen on a schedule that we play very little part in controlling.
Coincidently I was thinking about car wash just few days back, One was bought in 2014, never car washed seems fine so far. Another was bought in 2022 again no wash so far and no plan to.
I used to think everyone does it, I will do at some point but that point never came. Inside we vacuum and wipe every few months. Washed mats once in an year or so but car body wash rain takes care of it.
Watch the channel Auto Parts City on YouTube, I assure you it is not overblown. It's a junkyard owner. A ton of cars come through there that run fine and could otherwise be very serviceable, but the frame/body are crumbling from rust, so they have to be crushed. We're talking cars that are 10 years old. And yes, it even includes Toyotas and Hondas. (In fact they're more likely to end up crushed for that reason than another car is, since a Nissan or Hyundai's transmission and engine won't last long enough for rust to really end its life.)
From a certain perspective, maybe some people don't care if they would be getting rid of the car in like 5 years, but if you do want to keep a car 15 years and you live in "salt country" I would strongly suggest doing something about the salt regularly.
Selection bias. Cars that were not treated for salt, and didn't die, didn't end up in the junkyard for stories to be told.
My first car spent its first 15 years in the Midwest. No garage. Very irregular car washes (perhaps once a year when I owned it). It lasted about 20 years total. When I lived there, I didn't know anyone who had to give up a car due to rust. There definitely was rust, but not something that caused the car to break down.
I saw rusted out cars and trucks all over the place when I visited northern Minnesota and the UP of Michigan last year. Even late-model cars that couldn't have been more than 5-10 years old had rusted out rocker panels.
Yeah, those are good points I hadn't really thought of much. Thanks! I guess it's less of a priority for me because I bought my car for $1000 and it came with Michigan rust already. Lol.
Or a garden hose, bucket of soapy water, and a sponge. At least if you have a house with a garden hose. Many apartment complexes offer the amenity of an area for washing cars though.
Not sure if it's the same in Canada, but where I am from the problem is the oil (lubricant and fuel) from the car and at car washes the runoff gets treated by letting it go through an oil trap.
The trapped oil gets disposed of separately, the treated oil-free water goes to the sewer.
AFAIK the regulations were put into place to prevent untreated water from going into storm drains and into the water system, so presumably the cities are fine if you pour it down into the bathtub drain and let it go to the waste water treatment plants.
I appreciate the sentiment, but is the gunk on the car not the gunk that would have washed down the drains in the first place? Clearly there are plenty of nasty cleaning agents, but one supposes that safe ones might be used (I actually spent a while considering exactly this, and it's possible but not super easy getting an environmentally friendly car cleaner). I guess the issue is it's hard to tell from mere drive-by observation what cleaner is being used.
Yeah that could be a concern depending where you live. Where I live, water is cheap and abundant. And I've never measured, but I would guess I use maybe 10 gallons to wash a car. 2 gallons in the bucket, and just a light wetting followed by soapy sponge and then a rinse, using a nozzle to create a high velocity spray. The water doesn't run at all unless I'm spraying it on the car.
Water is cheap and abundant where I live, too. If we have a problem with water in any normal year, it is usually that we have to deal with a surplus of it. (We put drainage tiles under our farm fields to get rid of excess water and generally don't even bother with irrigation systems at all.)
But car washes are interesting systems and one of the things that makes them interesting is that the water they use is (often) recycled. The same water gets reclaimed and re-used to wash cars over and over again.
I didn't look very deep at all, but one car wash chain suggests[1] a reclamation rate of 70%. Not perfect, but way better than 0.
You can probably match that efficiency at home by using an electric pressure washer. Mine does 1.2 GPM, which means an entire car wash is only a few gallons.
That's surprising. I once tried an automated car wash just to see what all the hullabaloo was about and I think the rain actually does a better job. Worst $5 I've ever spent...
Yes. In the same way that dishwashers are an order of magnitude more water-efficient than washing by hand. (But consume a kilowatt of electricity heating the water and running the pump, which is the part that everyone always leaves out.)
You heat the water when you wash dishes by hand too, don't you? It's not very hygenic to do dishes with just cold water.
Given that by hand you use much more hot water than the dishwasher would, you're using more electricity (or gas). Since a little pump doesn't use much at all, it's mainly just the drying heat that matters. Though nobody is forced to use the drying cycle - if one enjoys drying dishes by hand, they can still use the dishwasher to do the washing.
You're assuming an absence of solar hot water heaters - the world isn't homogenous.
eg. Our household conserves water (we track every litre we bring up to the tanks and filter) and we don't have a dishwasher - hot water is heated by the sun and run-off goes to the grey water tank for the garden.
No I'm not. I don't care how you heat your water. I'm saying you (should) heat it either way, and you use more of it when hand-washing so if you do pay to heat it, you pay more by handwashing.
And in your case, you use more water because you hand-wash, than you would if you used a dishwasher. You use slightly less energy because of the pump but also a lot more of your time, so... obviously how you relatively value those different things is up to you.
Our concern here, and that of many people in the area, is total water usage per household - and to a large degree water usage for washing, showers, and toilets is a small fraction of the total usage - and one that can be ignored as most people have grey water capture (as do well planned and infrastructured cities).
Water used inside the house runs out to water food, shade, animals, etc. and that use can be deducted from the water that is required for those uses.
Energy is no great cost, it comes from the sun - both as electricity via panels and directly as heat via solar hot water systems.
In my house you don't heat the water but it's been sitting in a metal water tank at equitorial latitude for hours so is generally quite warm for evening dishes.
Is it safe? Not for a restaurant where the temps need to get to parasite killing temps to pass muster.. but if I had to guess, the odds of getting killed by a bad-tempered cow outweigh it by 10x.
When my water heating was electric, switching to a dishwasher consistently led to lower electric bills compared to a year prior (confirmed for 12 whole months).
I live next to a college. The Sororities will hold car washes. Of course, they ask us to get out of the car first, so that Cheerleading movie w/ Kristen Dundst lied. :-)
I think I may have an autistic affinity for washing machines, but I would LOVE to own a laundromat. I feel like this would fit into the self storage/ car wash category.
There's a guy Investment Joy on YouTube who you would probably enjoy watching, then. Just a pretty normal guy who runs a few small businesses. I think he has at least one car wash and a laundromat among other things. He talks about the various costs and problems, too.
Ha, I watched some guy on Youtube who bought a carwash. It's seems like a decent way to basically make some money with not a ton of work. Plus, you can get a lot of money as cash too, makes it easy to not report as income, which I bet a lot of their owners do.
Or, you jack up prices to pay for the renovations. Self storage out in the middle of nowhere is cheap, but self storage in a urban location that's easily accessible is not.
Both are correct. The decision will come down to what the cash flow and demand actual is and what they expect the future land to be worth. Sometimes you just let it go down to a low tier of maintenance, avoid all R&M and ride it out until you’re ready to cash in. The appreciation is collateral for future developments to so the model scales well.
As long as home ownership declines, storage facilities will continue to flourish. There may be a blip when all the boomer downsizing demand evaporates as their kids will trash the junk.
$80/month that becomes $120/month and then $200/month within a year or two, and they mail you a postcard to tell you about it. I guess that's another nice perk of the business.
This literally just happened to me for a storage unit we got to store a bunch of baby stuff while deciding if we’re going to have another kid.
Started at $87/month for a 5x10 unit. Plenty of space, and I added a six-foot-tall shelving unit ($50 from Home Depot) to keep it organized and access stuff when needed.
We’ve had it for maybe 18 months now, and I just realized it’s $204/month for the last 6 months.
It’s at the top of my list to eliminate this storage unit within the next few months.
We also had a 12 month personal limit on how long we’d keep it, but life happens.
The other perk is they charge “mandatory” insurance fees. It is easy to opt out if you prove you have insurance but at least the facility I am using makes it seem like it is hard.
They will also "accidentally" re-add the insurance fees. I had a storage unit for about a year while sorting through my brother's estate, and without fail every 3 months the insurance fee would get added back on. I was so glad when I was able to cancel that lease, it was maddening to have to keep calling about the same issue.
My son's college did the same thing. Every term, the billing for tuition and fees would include (a very expensive) fee for heath insurance. I would have to declare again that he was covered on my plan as a dependent and he didn't need the school's plan.
I'm convinced they do this because the kids using student loans aren't paying attention.
I know someone in the biz, so two other ways people are making money:
1) Buying land and getting it rezoned for storage and then selling it on -- it's getting harder to get permits to build storage as people get sick of them, so there is a whole economy in knowing how and where to build them and only dealing with the paperwork.
2) Storage unit construction is a huge business now.
You're on the nose. My parent passed shortly after I went to University. It was tough and much easier to put all of her belongings in storage for four years, then it was dealing with it then and there while renting and in between jobs.
I used to work at a company that was the industry leader in business management software for storage facility owners. I don't remember exact numbers but a lot of facilities are mom & pop type operations where people basically invested in the business as a retirement plan. It's a surprisingly stable and profitable industry. Economy good? People buy too much crap and want to store it. Economy bad? People have to move and downsize their housing and need to store stuff. Large incentive for tenants to avoid delinquency because they risk their stuff being auctioned off.
I thought the article was predominantly about supply side. There are more quotes from providers than consumers. The article mentions every point you’ve made. You’ve summarized the article bang on.
I paid around that for a 5x10 unit in a medium sized midwestern city for a year during covid when I worked fully remote and moved back to my parents' house for a year.
I disagree with the last point -- it's a pain to gather a bunch of things up, put them in vehicles (or rent a truck), find a storage facility that isn't full, rent the unit, haul your things over to the unit.. all the while ignoring that you're putting off whatever culling and disposal ceremony you should actually be engaging in.
My local town gives you two free visits to the garbage transfer station per year. Choosing storage over that seems harder.
Many things invoke "but this is a perfectly good..." I had a LaserJet monochrome printer. I knew I would never use it because I now have a color model, and if the color one broke I would replace it immediately. "But this is a perfectly good printer." It sat for a few years on a shelf before I finally tossed it. Resale nets too little to be worthwhile.
Other things represent work. This is old files in the office. My workplace was full of file cabinets with drawers of papers. It was decades of accumulated knowledge. No one would ever read them or use them. But throwing them away seemed disrespectful of all the work that went into those papers. For these things, I think of my daughter's math homework. It is extremely valuable and lots of work went into it, and there is zero reason to retain it the instant it comes home.
Other things represent memories. They embody a long friend or lost relative, or a vacation, or an occasion, or a feeling they caused when worn, used, etc. Discarding it seems to disrespect the memory. I try to keep these things to a minimum - keep representative samples, and digitize to the extent possible.
This is why discarding things is hard. I don't want storage space and have none, but I completely understand why people would rather shove apparently useless things into a storage locker. It's easier to pay to store it than to discard it. I go a step farther and say that it's worth it for folks to pay to store these things. It's worth $80/month or whatever it costs to have that stuff sitting in a storage box, even if they know they will never ever use or even look at them.
sadly, it is often true though. I learned early on that "free" usually meant "trash I don't want to deal with disposing of". There are of course people who don't do that (like myself) but that "price" is unfortunately a real signal to pay attention to
About memories - throwing away the associated item often feels like admitting that you can't go back to the moment represented by the item. It's hard to face that small grief so it's easier to keep it there.
> My local town gives you two free visits to the garbage transfer station per year.
Where I live in Norway the recycling station is open three days a week and I can take stuff there free as often as I like up to 2 000 kg of stuff per year.
It has never occurred to me that there would be a limit on the number of visits. Or have I misunderstood?
Recycling dropoff is normally free in North America. Waste that cannot be recycled is typically charged by weight for the cost of disposal at waste facilities. You can visit either as often as you like, but will pay to have your garbage disposed of. The GP lives in a place where you do not have to pay for non-recyclable waste the first two times you visit per year. This is normally done to encourage people with a large volume of waste from a single cleanup to dispose of waste properly (dumping on vacant land is a big problem in many parts of NA).
Recycling drop-off is not free for me, and neither is having recycling picked up at the house. If I need to drop stuff off at the dump, it's a flat fee per drop-off with a limit of one trailer load per drop-off. Burn barrels are also illegal in Maricopa County, so Amazon boxes just go in the trash.
US here. where I am: Recycling is free, hazardous waste is open a few days a month (also free), appliances are free, and rubbish is measured by weight (they weigh your vehicle on the way in and out). They pay you to take metal.
Without any fee beyond the required annual solid waste bill, my municipality will let me set out up to 20 (!) bags of trash per week with up to 50 lb (!) in them every week. I can throw out two tons of trash per month without having to haul anything anywhere or pay any extra fees.
Clearly this is madness, but it does make it a lot easier to throw shit out than put it in a storage unit.
Trust me, given how many people just accumulate trash because it's expensive, that's an absolutely sane and excellent policy. As a society, we want people to use trash disposal, because the alternative is expensive, painful, and disgusting.
You can literally tell which municipalities in my state have been hoodwinked by the Karens into adopting "pay as you throw". They're the ones where there's trash everywhere.
It's like these people can't think two steps ahead (I'd go so far as to say that's the defining feature of regulatory policy in this state). You just gave people a financial incentive to litter and dump.
Alaska was like this. Taking your trash to the transfer station or dump was expensive, so people throw it all over the place, trashing the highways and vacant land, or they use burn barrels and cause massive pollution torching plastic and other things. It's pretty horrifying to see such beautiful areas littered up :-(
Are you serious? Here in NH it's either once or twice a year. I call it "The real Father's Day" and plan to have a couple of podcasts or similar queued up for the wait in line.
Good god! Why on earth would you make it difficult to dispose of hazardous waste safely?
Here in Blighty, the local tip (sorry 'recycling centre') is open throughout the week and accepts everything from used engine oil and battery acid to asbestos. Granted some of the smaller tips might not have such facilities, but they will direct you to one that will.
All free of charge for non-commercial users. (Business will have their own regulated arrangements for hazardous goods).
In Copenhagen (and I think it's similar in most of Denmark) there's a fireproof cupboard in the basement of my apartment building for hazardous waste. Houses have a small red box they can leave out if they have something.
Making hazardous waste disposal inconvenient seems like a good way to have it end up in the normal waste stream.
Oh very much so. By the time I finally got to a hazardous waste day early enough to make it tolerable, the milk crate full of various poisons and extremely flammable toxins I had would have put low-level terrorist orgs to shame. I might as well have had a glowing suitcase.
Where I live (America, but waste processing is all handled at the local level and policies differ), the landfill has a "resident convenience center" with a bunch of dropoff stations for various types of stuff, along with a big ledge you can toss things over to be sent to the landfill.
When you arrive, and attendent will ask and/or look at what you have and tell you where to put it. Sometimes the answer is "you can't dump that for free. Go to the transfer station and pay by the pound".
In theory, there is also an annual wait limit to free dumps, but they can't actually enforce it.
Donation isn't that easy if one has to find someone who actually desires each item. It requires a lot of online posts, communication, and overall effort, but this ensures that each item finds a new home that's right for it.
Best to look up what people actually need. There is a lot of this junk we collect that just gets junked by the donation groups turning into a cost center.
Donating to donation groups isn't a great donation. It's better to catalog and post each item, communicate with people who want it, and thereby find it a new home that's right for it. Granted, this is not possible for all items, especially never for clothing.
Yes, and every time this narrative comes up we seem to conveniently ignore that this is highly correlated with renting instead of buying a home and people of all ages enjoying frequent travel.
If you move often enough within a small radius, you will highly value your storage unit. It's not necessarily just a place for junk. Many people rotate their things when their apartment lease is up or even seasonally. If you live near water, you might even store a boat. Many facilities also offer RV storage. Personally, when I had roommates I would keep my most important stuff in there instead of at home.
The attacks against storage units are engagement bait for nerds about a non-story.
I think, like a lot of other communities, HN has a poser problem. People just parrot and brigade for whatever topic gets some traction with a popular opinion. They don't question how that opinion got popular and they don't care what is being said. They're trying to fit in and collect discussions and memorize talking points. These are the same people who insist AI is replacing humans... maybe their kind of human.
It happened with crypto and it happened with AI. Now that we're back to the usual boring topics it's happening to the most random trivia.
Basically any opinion from the top 100 youtubers will be parroted here on HN. In the past few years, it's been a whole lot of urban planning stuff because of the changes in the real estate market.
My theory is self storage is actually in competition with getting a bigger house.
If your family is seriously considering moving to a bigger house, and that move is going to cost you $20,000 that makes renting a storage unit for $1000/year sound like a great deal.
> My theory is self storage is actually in competition with getting a bigger house.
Obviously true. If one had a house with space for posessions, there would be no need for storage. As houses become ever smaller (for a given $/sqft) external self-storage becomes the only affordable way to gain some space.
My parents were poor but back ~70 years ago it was still achievable for a lower income family to buy a house with some space. As an engineer in Silicon Valley, the largest house I can afford is barely twice the square footage of my childhood bedroom. In such a tiny house we fit 3 people, all with hobbies and equipment, child has toys, etc. A house with enough space would be another million at the very least. So that's impossible.
So compared to that, a couple hundred a month for self-storage is a bargain. I hate it, would rather have the equity in a larger property but it is impossible to afford.
So yes, that's why storage facilities have such a boom. Housing by $/sqft is impossibly expensive.
Rebuying decorations every year is also a leak on finances. Rebuying a bunch of camping gear (more than I can comfortably store in my home) is also a leak on finances.
It's far cheaper to use a storage unit for a lot of this stuff I do routinely use than buying and selling a house just to get more storage space at home.
I'm not blind to the fact not everyone just stores junk they never use. I'm certain there's a percentage of stuff in mine that is probably better off sold or trashed. But until we stop changing decorations for the different seasons, stop a number of hobbies with bulky stuff, or move to a giant mansion I just don't have the space and could use a few more square feet of pure storage space.
So give up on hobbies and everything occasional that requires some equipment since they can’t keep it at home, so basically give up on things that make life worth living to a lot of people. Yeah nah.
Every square footage of every home costs $$$ to keep in your possession. I pay a mortgage. I pay insurance. I pay taxes. I pay maintenance costs. There were acquisition costs in the purchase of it, and there will be acquisition costs wherever I go next. Not one square inch of my home is "free".
Suddenly that simple answer isn't so simple when actually confronted with reality, unless you're willing to be homeless and just carry your possessions in your hands.
Closets, basements, and attics cost you the same regardless of whether they are full of stuff or empty. "Free" in this case means no added monthly expense beyond the bare minimum to keep your dwelling.
i think they are suggesting to rethink the need for things like seasonal decorations if you are forced to pay a life long recurring fee for the privilege.
> if you are forced to pay a life long recurring fee for the privilege.
I have to regardless of a storage unit or in a closet in my house. That closet in my home and that shelf in my garage isn't free either.
So then it's just a question of owning anything at all or nothing, because it all has a life long recurring fee for the privilege of continuing to own it. And yes, my family finds value in decorating for holidays as a part of celebrating, remembering, and keeping traditions alive.
Sometimes people don't just want to live in the same IKEA box 365 days a year.
My garage doesn't even have enough space for all the various vehicles my family uses near daily. It doesn't have the space for the tools I use monthly. I barely even have the space for the workbench I use every other day. I have to have an additional shed to store a lot of other tools and supplies which get used consistently.
Your standard also doesn't make much sense. Garages can vary from barely being able to fit a compact car to having like a four car garage with a workspace area. You're saying that for both instances that's just perfectly the right amount of storage space for those people? The person with the small garage just isn't supposed to have any of the same hobbies as the person with the giant garage?
I guess I could just get rid of all these tools though. Every time I need something fixed I'll just not do it myself and just pay others instead of just doing things myself. I guess I could also just give up on a ton of hobbies we have. We can just throw away our family traditions that have been passed down for over a hundred years. I'm not wealthy enough to live in a house with enough storage space with the other constraints about where I'd like to live, so I guess I just don't get to have these hobbies and traditions and heirlooms.
Or I can just spend like $500/yr and still manage to keep all these hobbies and traditions and heirlooms.
I mean if you really use all of that stuff every single year then sure I guess you need the space but my experience is that the majority of people with space issues simply have a crapload of trash they never use and never will use but don't want to throw away.
I don't have space issues because I do get rid of stuff and I don't buy much stuff but I still have a bunch of stuff I would throw away or sell before renting a storage.
No, I'm not, and I've also never rented a storage unit.
It seems hard to imagine the sums involved becoming comparable to other amounts of money lit on fire to avoid fights with family though (i.e. home renovation, travel).
Who tf is breaking the bank on subscriptions and phone bills?
Are all these comments like yours coming from college students or what? If anything else, a storage unit is one of the most valuable things to pay for if you just moved out on your own.
I'm glad you have free visits to the dump for it. I've never lived anywhere where I wouldn't have to also pay to get my trash hauled away, so it's a big pain with old mattresses or furniture honestly.
You are missing one other issue: it seems easier than it really is. There are only so many people who would use self storage. You see a full self storage place in town and thing you can get a share if you just build one. What you don't understand is demand is not elastic: if you build a second site in town you go from 100 units with 90 used (a good usage rate), do 200 units in town but still only 90 used.
Eventually price crashes far enough below retail that commercial users start filling out a lot of the space because the cost per square foot is lower than their own space.
Like you shove your winter PPE, your emergency stash of spare parts for process equipment, etc, etc, in some self storage lockers and get the same job done using less square footage with extensive compliance burden (or get more job done using same square footage).
Ironically, this might be at least partially because the internal security controls at Cloudflare for using or provisioning new domains/subdomains is so difficult and arduous that the team decided the fastest way to go to market is to get an entirely new domain. Possible bonus that the official bug bounty program won't apply either, since it's on a new domain so any vulnerabilities found won't have to be paid out (as much).
Why is this so, so common? They're subdomains. They're free. It's not hitting anybody's budget to publish a new DNS entry. If someone has permission to publish anything in your name, they probably should be able to go make themselves a subdomain.
Because they point foo.example.com to AWS. They then let whatever the CNAME is pointing to lapse. Then an attacker registers the lapsed AWS and can now put their content on your trusted domain.
So the solution is to make it even easier to let the domain records lapse by putting it outside the place where everyone would know about it, with the added bonus that now you can super easily let the domain registration itself lapse without noticing so that your customers who have been told to use it can get directly pwned by whoever grabs it?
Which you could mitigate by using a Cert-Policy in DNS and HTST, so an attacker might not get s valid certificate for your domain and at least access is sonewhat restricted.
Because web security has a lot of legacy crap. Such as cookies. Oh you added Domain=foo.com to your cookie? Now marketingvibecodedapp.foo.com can access the cookie from your main domain. What do you mean you thought adding the domain field restricts the cookie to just that domain? Lol no, it's the exact opposite, gotcha, dumbass.
Counter-argument is: do you really want some team of 90% marketers and PMs throwing up a MVP/WIP codebase for some ancillary product not related to your core business on your core domain? At a minimum you'd want a thorough security review and risk assessment, and that goes against the ethos of "ship fast and pivot as needed".
Why does the TLD matter in this case? How does your security/risk posture change if you launch on myexperiment.mycompany.com vs. www.mycompanyexperiment.website that you had to go out and newly purchase? Asking because I legit don't know.
I remember reading an article by him in the 90s where he claimed e-commerce would never take off because all internet users expect everything to be free.
If you've ever tried to integrate with Bitcoin Core (bitcoind) you know how annoying it is to either poll the legacy JSON-RPC API, or set up a ZMQ listener. Satd provides a modern, strongly typed streaming event consumption API (with gRPC and JSON websocket transports) with features like the full event firehose, narrowly-scoped watches (for wallet backends, for example), privacy-preserving prefix matching, etc.
With all the recent controversy around BIP-110 (which is likely failing to reach activation threshold), I implemented a comprehensive, cost-bound transaction filtering DSL for satd, the independent Bitcoin node implementation written in Rust.
- Bitcoin was and is a massive, historic accomplishment in creating digital scarcity for the first time and the long term effects are still playing out.
- Virtually all of the "crypto" or Bitcoin 2.0 schemes in the 15 years since have been scams. Essentially a way for a tech founder to mint tokens out of thin air, and then try to convince others to treat them as money so he can get a huge (fiat-denominated) exit. Stablecoins are basically the only crypto innovation of note that have achieved PMF.
Though, there’s a part of me thinking that the basic idea of creating artificial scarcity for profit is hard to separate from scamminess. It’s giving De Beers.
I do think there’s a difference between charging a price and creating artificial scarcity.
This isn’t to say that the entertainment industry hasn’t pulled some awful shenanigans. But they’re generally willing to sell to as many people as are willing to pay the price they set. For the most part they haven’t tried to place hard limits on how many total people are allowed to watch a movie and control it with some sort of limited edition resellable token. That was an innovation of the NFT folks.
> The […] tried to achieve artificial scarcity for profit. All scammers?
Yeah, I don’t really see a difference between scamming and certain types of rent seeking. So many things could fit in the blank there, not just the entertainment industry.
If:
- you’re not creating value
- you’re exploiting the value someone else has created
- you’re engaging in anticompetitive, anticonsumer behavior
- etc.
You’re rent seeking and the only reason we’re don’t use the word “scammer” is because the concentration of wealth of the western world is built on rent seeking behavior.
What are you talking about - the entertainment industry is the most famous scam industry ever, giving the most famous artists just enough money to keep them dependent and pocketing 90% of it themselves.
You are forgetting Ethereum which is the defacto main standard and driver in the "crypto industry". Most of those chains are in fact EVM based (so outside of Bitcoin, XRP or Solana).
The people in and around the Ethereum Foundation are solving very interesting problems but nobody talk about it on HN. For example I believe they are at the forefront of the use zero-knowledge proofs.
Just dig into [0].
Is the Ethereum Foundation and broader project dedicated to pumping the cryptocurrency ETH? obviously not and they are not by far the top holder of it.
The fact that the crypto is not providing real returns is actually one of the main criticism of the project.
Ethereum promised smart contracts where "code is law", but rewrote the rules of their system when a bug was found in the first popular smart contract, the DAO. That's when I lost all interest in it.
I think it’s okay. Crypto devs can’t make a hard fork each time they want to revert something, and even if they do, people decide how much it’s worth to them (by staying on the old chain, like ETC in this case).
People’s opinion is the ultimate law. If you find a loophole in a contract that gives you everybody’s money, people will just take it back.
What is the main success for an Ethereum project that solves something that can't be solved without crypto or in a hugely more efficient/better way? I'm a crypto skeptic and I've never been introduced where crypto actually solves a problem.
Read the GP comment again. I don't know if Ethereum has, is or will ever get to whatever grandiose goal they have. But the one thing that I love has done is provide intelligent people with funds to research things like ZKSNARKs and similar cryptographic constructs.
It's like war: We don't like war, we don't like people being killed, but man, the amount of technology progress made during war is good.
So, even if you hate crypto; the fact that it is enabling research in cryptographic theory (even if for stupid goals) is good.
Yes but ... most/all of this research is for solving weird self-made problems created from some flawed premise like "we need a decentralized sequencer" or "we need a hash function that can't be profitably made into an ASIC". A lot of the zk research is for "roll-ups", themselves a horrifically complex "solution" for Ethereum's inability to scale its consensus.
BTC is nifty but it is far from world-changing. Nowhere near the impact of Bretton-Woods, Nixon abolishing the gold standard, securitization of mortgages, petrodollars, ZIRP, etc etc.
Also, bitcoin alone would have never gained as much value if it wasn't for the 2019-21 defi explosion. Ethereum is integral to the cryptocoin story, period.
The first thing is false or worded poorly. Before Bitcoin became globally popular, there were many examples of digital scarcity driving significant transaction volume: Early online games with tradeable game objects, gimmicks like Million Dollar Homepage, etc.
Valve hired economist and future politician Yanis Varoufakis in 2012, when Bitcoin was well below $1000, to study "in-game economies" (i.e. digital scarcity) because it was such a big deal in their existing online games.
Bitcoin was not much in the public consciousness by then. It was trading at ~$10, mainly on MTGOX. It's likely its transaction volume was much lower than other non-crypto digital assets (and MTG cards) at the time.
You claiming that Valve hired an economist to study digital scarcity, not because of Valve's booming ingame economies, but because Bitcoin was at $10. Sure.
No, I want to insist on Bitcoin's intellectual legacy. Before ~2011, only a handful of niche nerds at the intersection of cryptography and (goldbug) economics had heard of related ideas. After ~2011, everybody had, and started building their own (like Etherium).
My opinion throughout this AI revolution of the past few years is: appetite for software is insatiable. AI tooling will 3x-10x the output and sophistication of software but will not meaningfully decrease employment over the long haul, except perhaps in legacy or not-forward-thinking organizations.
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