This generation and entitlement

[Phanuthier]

I probably fight this fight a little more than I should, but I came across this article a few days ago and thought it was a great read - about how this generation is learning from last generations splurging mistakes. The last paragraph really seems to reasonate with the post-depression generation.

http://www.timesleader.com/business/...7-10-2011.html

One reason many tech prodigies avoid living large is that it takes time to adjust to a sudden increase in wealth, said Edward Wolff, an economics professor at New York University who studies income and wealth. The newly rich don’t know how long their good fortune will last, so they’re cautious, he said.

(Note: just posting a link for general discussion, not to go on a crusade)

[Table 5]

I dunno about you guys, but I have about 20 different cars to buy and 30 trips around the world I'd be planning for in the first week. Things might change after a while, but If I have 100 of millions to play with, I'm going balls out.

[MelBridgeman]

Could also be that even though Mark Zuckerwhatever is worth billions... he actually doesn't have billions and facebook can be worth nothing real fast

[Phanuthier]

Originally Posted by MelBridgeman

Could also be that even though Mark Zuckerwhatever is worth billions... he actually doesn't have billions

Did you read the article? Thats what the article says some entrepreneurs line of thinking is.

Besides the the minimalist setiment, I thought it was interesting to see social norms were more focussed on philantropy rather than materialism.

[Ozy_Flame]

For younger generations, Time is the new money. I know many who value their vacation and time off with their spouse and family than earning a larger bonus. I think this also ties in to being more cautious about spending.

[burn_this_city]

You can give money away hand over fist, and not live like a freshman. There is a balance that can be acheived.

[Phanuthier]

Originally Posted by Ozy_Flame

For younger generations, Time is the new money. I know many who value their vacation and time off with their spouse and family than earning a larger bonus. I think this also ties in to being more cautious about spending.

Not really. From what I've seen/heard from the tech side, is it doesn't matter what kind of car you drive. Its about what you do.

[blankall]

Originally Posted by MelBridgeman

Could also be that even though Mark Zuckerwhatever is worth billions... he actually doesn't have billions and facebook can be worth nothing real fast

Zuckerberg could easily raise billions in liquid assets by selling off a fraction of his stock to the highest bidder. He's stated clearly many times that he wants to hold onto the integrity of his product and obviously isn't letting his own greet get in the way.

[Table 5]

Just wait till these guys get a wife. There's no way they'd be living this lifestyle if there's a woman around. I slept on a sleeping bag the first 2 years I was in NY...not necessarily because I couldnt afford a bed, I just couldnt be bothered with shopping for one. That changed pretty damn quick once a long-term relationship came into the picture.

[Traditional_Ale]

Originally Posted by burn_this_city

You can give money away hand over fist, and not live like a freshman. There is a balance that can be acheived.

Yeah, but the genius level tech-types for the most part don't seem to be balanced people. If that lends itself to philanthropy rather than gluttony, I'm all for it.

[Ozy_Flame]

Originally Posted by Phanuthier

Not really. From what I've seen/heard from the tech side, is it doesn't matter what kind of car you drive. Its about what you do.

Uh . . . That' what I'm saying

[burn_this_city]

Originally Posted by Table 5

Just wait till these guys get a wife. There's no way they'd be living this lifestyle if there's a woman around. I slept on a sleeping bag the first 2 years I was in NY...not necessarily because I couldnt afford a bed, I just couldnt be bothered with shopping for one. That changed pretty damn quick once a long-term relationship came into the picture.

I'm surprised it wasnt a deal breaker for her when she saw you slept in a sleeping bag

[malcolmk14]

In the end, these entrepreneurs are providing free services to people. When the next cool thing comes along, something "worth" a billion today could be worth nothing tomorrow. See: myspace.

[valo403]

Originally Posted by Table 5

Just wait till these guys get a wife. There's no way they'd be living this lifestyle if there's a woman around. I slept on a sleeping bag the first 2 years I was in NY...not necessarily because I couldnt afford a bed, I just couldnt be bothered with shopping for one. That changed pretty damn quick once a long-term relationship came into the picture.

Srsly?

[Phanuthier]

Originally Posted by Ozy_Flame

Uh . . . That' what I'm saying

You mean as in, spending time/money on your family rather than earning a bonus?

[Phanuthier]

Originally Posted by valo403

Srsly?

Its actually quite common to see in the Silicon Valley as well

[J pold]

From my understanding, money only matters to a point, after that what gives people from this generation purpose is participating in meaningful work. We want a level of autonomy and the idea that we - weather you agree with it or not - are the leaders of our own destiny. If we work hard enough and apply our knowledge, we will be rewarded for our efforts.

[Table 5]

Originally Posted by burn_this_city

I'm surprised it wasnt a deal breaker for her when she saw you slept in a sleeping bag

I think when she saw that my roommate slept on a towel, I came away looking like a pretty sweet catch.

At least I know she's not in it for the money!

[longsuffering]

Originally Posted by Phanuthier

I probably fight this fight a little more than I should, but I came across this article a few days ago and thought it was a great read - about how this generation is learning from last generations splurging mistakes. The last paragraph really seems to reasonate with the post-depression generation.

http://www.timesleader.com/business/...7-10-2011.html



(Note: just posting a link for general discussion, not to go on a crusade)

I'm not sure I understand your point.

Are you suggesting that tech millionaires and billionaires are somehow representative of 'their generation'?

[Table 5]

Originally Posted by valo403

Srsly?

Well, it's not entirely true. Half way through the 2nd year, my parents visited...were so horrified at the monk-like status of our apartment that that they bought me an air mattress. So I slept on that for about another year.

With college tuition and rent to pay, spending money on a bed and furniture didn't seem like the best use of moeny, and honestly, I didn't mind. It was great and I wouldn't change it for anything.

I do love my bed now though.