In theory, the system will reduce recycling plants. The boxed collection can only be redistributed to the manufacturer and becomes a new product that does not require any other materials. (The process called closed loop recycling.)
Aldous Hicks, CEO of Lasso, believes that everyone should treat recycling like washing clothes and dishes. He said in a TEDx speech last month: “Millions of families are already practicing the exact steps we need to take.” “For example, we use washing machines to wash clothes, so we can sue them over and over again. Obviously, we have already Use technology to dispose of household items. So why not use household recycling equipment?”
Price may also be an issue. Hicks told Engadget that its prototype should be completed this quarter. The company has opened reservations on its website, but there is currently no deposit or final price. (In essence, this is a registration form for email updates.) When the final version is ready (probably in 2033), according to Hicks, the fee may be around $3,500. It was too expensive, but when they first entered the market, so were refrigerators. Hicks said in his TEDx speech: “In 1919, people paid the same price as an ordinary new car at the time.”
This price can be offset by recycling payments. Lasso claims on its website that customers can “get cash in return based on your consumption within five years of ownership.” The idea is that you can save other people money by cleaning. Currently, this is just a theoretical business model. Lasso will need to complete its product, complete a pilot program, and most likely raise more cash to realize its vision. Recycling is a huge challenge, but we are very happy that someone (even a small startup company) is considering a home solution.