This generation and entitlement

[Yasa]

I was really hoping for a rant about kids with your loud music and your Dan Fogelberg, your Zima, hula hoops and Pac-Man video games, don't you see? People today have attention spans that can only be measured in nanoseconds.

[bizaro86]

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.

Maybe I'm just part of my generation, but time off is way more important to me than a bigger bonus. That seems unbelievably obvious to me, but people (of a certain age ) are always blindsided by that.

[Shades]

Originally Posted by Yasa

I was really hoping for a rant about kids with your loud music and your Dan Fogelberg, your Zima, hula hoops and Pac-Man video games, don't you see? People today have attention spans that can only be measured in nanoseconds.

I got bored after reading "I was" and stopped

[kirant]

Originally Posted by Yasa

I was really hoping for a rant about kids with your loud music and your Dan Fogelberg, your Zima, hula hoops and Pac-Man video games, don't you see? People today have attention spans that can only be measured in nanoseconds.

tl;dr.

[Cowboy89]

Originally Posted by bizaro86

Maybe I'm just part of my generation, but time off is way more important to me than a bigger bonus. That seems unbelievably obvious to me, but people (of a certain age ) are always blindsided by that.

I'm Gen Y and I can certainly attest that there's an income effect where the marginal effort and time it takes to make more money seems less worthwhile than for pervious generations. I think that's a healthy mentality provided that you have the means to support yourself and what you want to do.

One thing though that I have noticed is that when there are tough times, job losses, etc, some in Gen Y have a tough time coming to terms with having to cut back on vacations, taking on jobs that pay the bills but aren't the 'dream job' etc. Then again this might not be unique to Gen Y, we're about to find out how the Baby Boomers handle this kind of adversity when they realize that their real estate isn't a retirement plan.

[Knalus]

The tech guy that I heard about that seems to me to be the most inspired is Elon Musk, one of the guys behind PayPal. I never would have heard of him, if it weren't for his further business ventures. He took his payday from PayPal, and funneled it into SpaceX. It's a business again, but considering that he's doing what he can to help get mankind into space, it's great to see that sort of thing. That, along with his electric car business, Tesla, isn't so much "philanthropy" per se, but in my mind is more effective in trying to make the world a better place.

[chemgear]

Originally Posted by bizaro86

Maybe I'm just part of my generation, but time off is way more important to me than a bigger bonus. That seems unbelievably obvious to me, but people (of a certain age ) are always blindsided by that.

Originally Posted by Cowboy89

One thing though that I have noticed is that when there are tough times, job losses, etc, some in Gen Y have a tough time coming to terms with having to cut back on vacations, taking on jobs that pay the bills but aren't the 'dream job' etc.

Some people are really vocal about (family) time versus money - and perhaps rightfully so. But in my personal experience, I've noticed that the loudest portion of the vocal crowd seem to spend that time on vacations and toys they can't afford; and are eyeballs deep in debt.

Something about a cake and eating it.

[Cowboy89]

Originally Posted by chemgear

Some people are really vocal about (family) time versus money - and perhaps rightfully so. But in my personal experience, I've noticed that the loudest portion of the vocal crowd seem to spend that time on vacations and toys they can't afford; and are eyeballs deep in debt.

Something about a cake and eating it.

Sometimes people treat the phrase "Carpe Diem" as a blank cheque to anihilate their future.

[Weiser Wonder]

Yeah I don't think some people are capable of thinking about 5, 10 years down the line. A friend of mine told me how she was thinking about taking out a loan to get a boob job. It was really hard to not make the "are you ######ed?" face after she said that.

[burn_this_city]

Originally Posted by fotze

But not anyone here, we are all awesome and prudent and do the right thing.

Everyone except me.. But I'm atoning for my sins by spending 2 years in Fort Mac purgatory.

[SeeGeeWhy]

Don't kid yourself, these guys are in it to make investments that give them huge returns, notariety, control, prestige and the thrill of starting something big. They are absolutely motivated by money and possessions and if you think otherwise, you're fooling yourself. Instead of wanting a fancy car or a fancy house, they want the next headline, or name on a charity they helped found, etc. These people are creators, and the new princes and princesses of a type of renaissance. I don't think they should apologize for what they are doing, but I think you should also be careful in putting them in the light you're putting them in... you seem enamoured to a degree. Probably because you live in silicon valley and it would be easy to get drunk on the celebrity and power that seems to exist in that world.

I think the one thing they have figured out is that every extra dollar you spend on your house is one dollar less you have to put into that next start up, which is one less board you sit on, and one less open door or one less invite to the next big party you get. The reality is that we don't really need much more than such simple things, and the rewards from living a big life do seem to be so much more fulfilling than being some nameless corporation's bitch for decades just to get a leather jacket with your initials embroidered on the inside pocket at the end of it all as a thanks. Life is short, but there is also very little limit to what can be done with it, and that, I think, is the point.

There is nothing benevolent or "morally superior" that these people are doing - not to say what they are doing is wrong, I absolutely believe society needs people like this. Society will invariably benefit from the drive of these individuals, but it is because there are a few that are unapologetically pursuing what interests them the most.

I have no idea why the media is portraying these people like they are some kind of moral beacons or somehow different from their ancestors... they're not. They all want the same things, I just think there is less buy in for the imperfect social and economic systems that we've been agreeing to for decades now. Self reliance is a powerful thing and at the core of this, I think this is what is driving them. Entitlement is expecting others to provide for you what you want, living powerfully is going out and getting it for yourself.

[Kybosh]

Originally Posted by SeeGeeWhy

Don't kid yourself, these guys are in it to make investments that give them huge returns, notariety, control, prestige and the thrill of starting something big. They are absolutely motivated by money and possessions and if you think otherwise, you're fooling yourself. Instead of wanting a fancy car or a fancy house, they want the next headline, or name on a charity they helped found, etc. These people are creators, and the new princes and princesses of a type of renaissance. I don't think they should apologize for what they are doing, but I think you should also be careful in putting them in the light you're putting them in... you seem enamoured to a degree. Probably because you live in silicon valley and it would be easy to get drunk on the celebrity and power that seems to exist in that world.

I think the one thing they have figured out is that every extra dollar you spend on your house is one dollar less you have to put into that next start up, which is one less board you sit on, and one less open door or one less invite to the next big party you get. The reality is that we don't really need much more than such simple things, and the rewards from living a big life do seem to be so much more fulfilling than being some nameless corporation's bitch for decades just to get a leather jacket with your initials embroidered on the inside pocket at the end of it all as a thanks. Life is short, but there is also very little limit to what can be done with it, and that, I think, is the point.

There is nothing benevolent or "morally superior" that these people are doing - not to say what they are doing is wrong, I absolutely believe society needs people like this. Society will invariably benefit from the drive of these individuals, but it is because there are a few that are unapologetically pursuing what interests them the most.

I have no idea why the media is portraying these people like they are some kind of moral beacons or somehow different from their ancestors... they're not. They all want the same things, I just think there is less buy in for the imperfect social and economic systems that we've been agreeing to for decades now. Self reliance is a powerful thing and at the core of this, I think this is what is driving them. Entitlement is expecting others to provide for you what you want, living powerfully is going out and getting it for yourself.

Everything they do is in the pursuit of immortality. Yes, you will die, but your name might not have to. Nobody remembers how awesome your house and car were, but people remember massive deeds or changes in ideologies.

[habernac]

Originally Posted by burn_this_city

Everyone except me.. But I'm atoning for my sins by spending 2 years in Fort Mac purgatory.

I did 15 years standing on my head. Before there was money up there.

[SeeGeeWhy]

Originally Posted by Kybosh

Everything they do is in the pursuit of immortality. Yes, you will die, but your name might not have to. Nobody remembers how awesome your house and car were, but people remember massive deeds or changes in ideologies.

I'd agree that's part of it, but there is probably also a stronger link to just wanting to live an awesome life and realizing that there is actually a lot less holding any of us back than we are initially led to believe.

[burn_this_city]

Originally Posted by habernac

I did 15 years standing on my head. Before there was money up there.

I kind of like it to be honest, seems like the summers are nicer. I just don't like being away from home 20 days a month, and the horseflies with radar signatures.

[chemgear]

Originally Posted by Weiser Wonder

Yeah I don't think some people are capable of thinking about 5, 10 years down the line. A friend of mine told me how she was thinking about taking out a loan to get a boob job. It was really hard to not make the "are you ######ed?" face after she said that.

Whoa, whoa, there! Now to be fair, that might be the "best investment of $5,000 possible" for some people.

[bizaro86]

Originally Posted by chemgear

Some people are really vocal about (family) time versus money - and perhaps rightfully so. But in my personal experience, I've noticed that the loudest portion of the vocal crowd seem to spend that time on vacations and toys they can't afford; and are eyeballs deep in debt.

Something about a cake and eating it.

I think it depends on how you prioritize. I go on killer vacations, way above the average for my income bracket. But I compensate by not going out drinking, having 1 car for the two of us (huge savings) and not doing consumer debt/buying on credit.

You can do one thing really well, as long as you realize that will cost you other things. It has to be either/or, not both.

[speede5]

I wonder if there is anything to the fact that most of this generation is growing up with boomer parents, and have led a pretty priveledged life to begin with. Many of the things people have today and consider staples were once luxuries, cable tv, internet, cel phones, etc, yet none of this generation Y seems to have really done without.

Is it really so noble to eat KD and sleep on the floor yet have unlimited access to the world on an iphone?

Besides, if a few eclectic billionaires is a sample of this generation the theory is pretty flawed. Would have had more weight if he had used actors, rappers, and athletes, who are way more representative what happens when this generation get rich quick.

[Phanuthier]

Originally Posted by speede5

I wonder if there is anything to the fact that most of this generation is growing up with boomer parents, and have led a pretty priveledged life to begin with. Many of the things people have today and consider staples were once luxuries, cable tv, internet, cel phones, etc, yet none of this generation Y seems to have really done without.

Is it really so noble to eat KD and sleep on the floor yet have unlimited access to the world on an iphone?

Besides, if a few eclectic billionaires is a sample of this generation the theory is pretty flawed. Would have had more weight if he had used actors, rappers, and athletes, who are way more representative what happens when this generation get rich quick.

1st paragraph - good point. I grew up middle class (cable TV, et al, probably pretty spoiled) but ever since I left home, I've lived a more conservative and simpler lifestyle. Not really for any other reason than I don't need it.

3rd paragraph / SGW - I think those opinions are not true. I've been told by people who knew Zuckerburg before he was big, and he's always been a simple man. I also know a few people who have been successful in startups that don't have as big of a name in the news, their passion is more for doing something cool, a prized idea or a challenge rather than a prized possession. What you see in this news article isn't just 1 or 2 guys, there are many others out there. When you hear some of them talk, its never about status or making a legendary name or anything. They prefer a challenge over fame, be it some sort of social obligation (Buffett described this really well), another startup venture or just keeping to their own and enjoying a simple life. But I do tend to be awed by those who look for something else in life, and there are some in the music industry (Paul Brandt) and sports (Iginla, Warraner, Ference, etc) that do stuff for something besides the name. I didn't say its a majority, but its a growing trend to see it happen for sure.

[Tinordi]

Originally Posted by bizaro86

I think it depends on how you prioritize. I go on killer vacations, way above the average for my income bracket. But I compensate by not going out drinking, having 1 car for the two of us (huge savings) and not doing consumer debt/buying on credit.

You can do one thing really well, as long as you realize that will cost you other things. It has to be either/or, not both.

I do this too. We have one car, we rent instead of own, have no personal debt whatsoever, keep our expenses low and then go on one really nice vacation about once a year. Priorities I guess.