The Internet, though, has enabled the bundling of services into broad subscriptions, as well as the unbundling of services into niche subscriptions, possible for a wide variety of businesses to offer.

Like everything else, this concept is being tested brutally by the Covid-19 pandemic. Rent the Runway, the fashion rental service, has had to rethink its plans as fewer Americans commute to offices or attend fancy events. Joymode, which rented out thousands of products, from electronics to margarita machines, closed. Uber rides — which were... See more