The Future Challenges for Gen Z: Scott Galloway's Insights

Young Americans, particularly Gen Z, are facing tough economic, social, and political challenges, and there is a need for forward-leaning investments, increased vocational certification, and a shift towards income-based affirmative action to address these issues

Questions to inspire discussion 

• What are the economic challenges facing young Americans?

  —Young Americans are economically worse off than their parents, leading to dissatisfaction and a broken social compact.

• How has the pandemic affected wealth transfer in the US?

  —The pandemic has been an ultimate intergenerational wealth transfer, with major economic policies transferring wealth from young to old.

• What is the impact of stimulus money on real estate prices?

  —Stimulus money has caused real estate prices to soar, making it harder for two-thirds of Americans to afford a home.

• What is the speaker's stance on higher education?

  —The speaker criticizes higher education for focusing on increasing compensation while decreasing accountability and artificially constraining supply.

• What is the speaker's view on affirmative action?

  —The speaker advocates for a shift towards income-based affirmative action to address discrimination and create more opportunities for a diverse range of students.

Key Insights

• 💔 For the first time in our 275 year history, a 30 year old man or woman isn't doing as well as his or her parents economically.
• 😡 Seniors who vote have elected a group of people that is a cross between the golden girls and the walking dead, neglecting the well-being of the younger generation.
• 📉 "Some people think that kids are over educated, that they're loaded up on student debt, they get skills that they can't use in the workplace."
• 💸 The student loan debt is one of the only forms of debt in the United States that is not dischargeable under bankruptcy, which haunts young people for the rest of their lives.
• 🔥 The youth are gonna, they're getting screwed. They're going to rise up, draw a line between this dissatisfaction and what we're seeing on college campuses right now where students are, you know, encamped, uh you know, against the war in Gaza, demanding divestment, doing things that are making their parents crazy.
• 🔥 Gen Z weaponizes new mediums to challenge the status quo, turning minor problems into rage.

#Relationships #ScottGalloway #Sociology #Education #GenZ

XMentions:@profgalloway @HabitatsDigital  

Clips 

• 00:00 🔮 Young Americans are economically worse off than their parents, with major economic policies transferring wealth from young to old, causing dissatisfaction and a broken social compact.
  • Young people in America are economically worse off than their parents, leading to dissatisfaction and a broken social compact.
  • Major economic policies in the US are transferring wealth from young to old, with social security being a $1.4 trillion transfer of wealth from young people to the wealthiest generation, and the pandemic being an ultimate intergenerational wealth transfer.
  • The market was flooded with stimulus money, causing real estate prices to soar and making it harder for two-thirds of Americans to afford a home, while the rich benefited from the stock market boom fueled by debt.
• 03:00 💡 Higher education is in trouble as the industry prioritizes higher compensation and limits supply, while Harvard could admit more students without sacrificing quality, and the admissions process is about giving unremarkable people a chance to be remarkable.
  • Higher education is facing tough times as the industry focuses on increasing compensation while decreasing accountability, and artificially constraining supply.
  • Harvard's endowment has increased significantly, but they could admit more students without decreasing the quality of their freshman class.
  • The admissions process for higher education is not about who gets in, but about giving unremarkable people a chance to be remarkable.
• 05:39 🚨 Gen Z faces tough future due to housing scarcity, political decisions, high rates of depression; importance of voting, forward-leaning investments, and electing younger, moderate leaders emphasized.
  • The speaker discusses the impact of housing scarcity and political decisions on the well-being of the youth in America, expressing concern about the high rates of depression and anxiety among the younger generation.
  • The speaker emphasizes the importance of voting and making forward-leaning investments for the future of children and the next generation.
  • Adopt ranked choice and final five voting, elect more moderates, and have a younger, elected populace of leaders.
• 08:50 🔮 Older generations don't understand the challenges of Gen Z in a tech-driven world, with lack of investment leading to education and opportunity issues.
  • Older generations do not fully understand the challenges and pressures facing young people in today's technology-driven world.
  • Elected representatives in America are not representative, big companies have too much power, and young people are not being invested in, leading to a lack of opportunity and education for the next generation.
  • The speaker argues against using $750 billion for a student loan bailout and suggests investing in public universities to address the underlying issue of rising education costs.
• 11:21 💡 Public universities should increase acceptance rates to prevent student debt, cut college costs using technology, and offer vocational certifications to address societal pressure to attend college.
  • Public universities should increase their acceptance rates to prevent students from being forced into second-tier schools and accumulating massive debt, which is often the result of societal pressure to attend college.
  • Cut college costs by 2% annually using technology and scale, double freshman seats at elite publics, and offer 20% vocational certifications and degrees.
  • Young men with renovation skills can earn between $90,000 and $130,000 within two years.
• 13:50 🔮 Gen Z faces a shortage of tradespeople and a need for increased vocational certification, while dissatisfaction and anger on college campuses is not leading to widespread protests.
  • 11% of UK LinkedIn profiles and 12% of German profiles list "apprentice," while in the US, there is a stigma against vocational careers, leading to a shortage of tradespeople and a need for increased vocational certification.
  • Young people are expressing dissatisfaction and anger on college campuses, but the majority of students are not actively involved in protests.
• 16:03 🔥 Young people are using new mediums to turn minor issues into rage, with disproportionate outrage and lack of historical context, potentially influenced by external forces.
  • Young people challenging the status quo and using new mediums can turn minor issues into rage, similar to how anger in a relationship is often about broader issues, and this is currently manifesting on college campuses.
  • The speaker discusses the conflation of the civil rights movement with the situation in Gaza and the perception of Israel as the ultimate oppressor, highlighting the disproportionate outrage and lack of historical context.
  • Israel's actions have tarnished its image, and the CCP may be using TikTok to sow division in America.
  • Young people under 25 support Israel more than not, but there is a disproportionate amount of videos being served on Instagram reels about the Uighur genocide and free Tibet, which raises questions about the control of the medium.
• 19:46 🚨 Gen Z is facing tough issues with diversity and inclusion, shifting from race-based affirmative action to a focus on income and dual-income parent homes to address discrimination and create more opportunities.
  • The president and CEO of the Hispanic Association on corporate responsibility in Washington DC meets with the head of the Hispanic in London.
  • The speaker discusses the issues facing Gen Z and emphasizes that they are not a simulation.
  • The anti-diversity and inclusion backlash has evolved from a positive place to a point where it is now causing its own issues, with a shift in focus from race-based affirmative action to a focus on income and dual-income parent homes.
  • Diversity and inclusion have led to advantages for certain groups, but there are still many issues to address, such as the mistreatment of people of color, women, and LGBTQ+ individuals.
  • Affirmative action should be based on need and adversity, not physical observable characteristics, in order to address the issues of discrimination and create more opportunities for a diverse range of students.

-------------------------------------

Duration: 0:25:4

Publication Date: 2024-06-05T11:38:21Z

WatchUrl: https://www.youtube.com/watch?v=tFk5gGbSBas

-------------------------------------