Parts is (Not) Parts: The Life Cycle Problem for Heavy Equipment
About this episode
The episode discusses how transaction costs influence ownership and rental decisions in the heavy equipment industry.
Send us Fan Mail We trace how Alex Schuessler, the once and once-again President of SmartEquip--also a scholar of expressive choice!--built a platform that makes machines more profitable by erasing the friction between parts, service, and uptime. The rental economy, Japan’s utilization model, and IoT diagnostics reveal why transaction costs, not price tags, decide who should own and who should rent. • rental vs sharing and why property rights matter • how serial-number specific data kills er...
People in this episode
Host: Michael Munger
Guest: Alex Schuessler
Mentioned in this episode
Organizations: SmartEquip, IoT
Places: Japan
More episodes of The Answer Is Transaction Costs
- Are Transaction Costs Really Just Human Distance
- Adam Smith's Wealth of Nations Episode 10: Always Contemporary
- Adam Smith's Wealth of Nations Episode 9: Spending, Taxing, and Debt
- Adam Smith Episode 8: A Nation of Shopkeepers
- Money Killed Barter; Can a Platform Bring It Back?
- Adam Smith Episode 7: The Errors of Mercantilism--Bullion, Balances, and Bounties
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