99% of What We Buy, We Don't Actually Want to Own, Says TerraCycle CEO

99% of the things people buy, they don’t actually want to own, said Tom Szaky, the founder and CEO of waste management company TerraCycle Inc., at Calcalist’s Mind the Tech conference in New York Thursday.

For daily updates, subscribe to our newsletter by clicking here.

When customers buy a cup of coffee from Starbucks or a disposable water bottle, the customer will have to manage the packaging in addition to the drink or product itself, and the container will ultimately end up getting thrown out, Szaky said.

The company’s most recent venture, Loop, aims to reduce waste by offering a reusable and returnable delivery service for consumers that picks up empty packages, then washes and reuses them. Loop will be launching in France and the U.S. next month. Among the brands already on board are Procter & Gamble, Unilever, PepsiCo, Nestlé, and Danone.

In Israel, the company recently launched a shampoo bottle that is made up of 25% recycled ocean plastic, Szaky said.