NEWSWIRE: 2/26/18
- Fully 71% of employed Millennial pet owners would take a pay cut if it meant they could bring their pet to work, with 21% saying they would take a pay cut of 20% or more. Millennials who view their pets as part of the family will spare no expense to keep them around at all times. (Zulily)
- NH: Millennials desperate for close companionship (but not yet ready to start families) are becoming one more positive for an industry that is already being pushed by a vigorous lineup of social and demographic drivers: pet care. (See: "Mars Takes Dog Food to the Bank.") Though the largest single player (Mars) is privately held, there are plenty of public ways to go long on this trend. (See: "Pet Care: The Four-Legged Bull Market.")
- A growing number of startups specializing in end-of-life planning are struggling to attract Boomers (who plan to live forever) and the Silent (who don’t want to talk about death). The resistance is best summed up by one 87-year old: “I’m not going to be around, so what do I care?” (The Boston Globe)
- NH: A lot of Boomers came of age criticizing their (G.I.) parents' obsession with building and preparing and saving--and their inability to live in the "now." Even as they enter their senior years, it's hard for them to change course. Their collective pessimism about America's future, to be sure, suggests that at some level they understand this trend will have to reverse. But at the moment, thinking about posterity either in their own personal lives or in their collective public choices (e.g., federal borrowing) doesn't come easy for them. The key will be persuading Boomers to derive some genuine meaning and satisfaction from such sacrifice. Abraham Lincoln once wrote (appropriately, in his 1842 "Temperance Address"): "Few can be induced to labor exclusively for posterity; and none will do it enthusiastically. Posterity has done nothing for us; and theorize on it as we may, practically we shall do very little for it, unless we are made to think, we are, at the same time, doing something for ourselves."
- Facebook has rolled out Messenger Kids for Android, an app that lets parents monitor who their kids are talking to via backdoor access through their own Facebook account. The app is a compromise for parents who believe their kids are too young to be chatting and sharing personal information online. (TechCrunch)
- NH: This is a plus for parents who are searching for a safe way to allow their preteen kids to engage in social media. It's a minus for those who think that early exposure to social media simply habituates their kids to excessive social media use as they grow older. To them, Messenger Kids is pretty much a gateway drug.
- Google has launched a new ad blocker for its Chrome browser—but not everyone is happy. Many critics say that the process by which Google determined which types of ads are “unacceptable” was self-serving (the types of ads that Google uses on its Search page and YouTube videos are conspicuously absent from the banned list). (The Wall Street Journal)
- NH: To be sure, digital advertisers and their online platforms have a collective self-interest in trying to rid digital platforms of the worst kinds of ads--those that ruin the user experience. But I think it's fair to say that Google is also playing an aggressive defensive strategy by dealing its own ads in while appearing to "do something" about too many ads. It could not afford to leave Chrome entirely defenseless while users everywhere are adopting third-party ad blockers. Of course, even those third-party blockers (like best-seller Adblock Plus) play a double game by whitelisting advertisers who pay to play. As a Forbes columnist, btw, I was delighted to find Forbes blacklisted by the new Chrome ad blocker on account of its godawful "prestitial Web ads. Let's hope we no longer see those!
- Fully 88% of Millennials say social media breeds a tendency to compare one’s wealth with others, compared to 71% of Xers and 54% of Boomers. Furthermore, 61% of Millennials say that this comparison makes them feel inadequate about their own lives—a figure that underscores the mental health risks of spending too much time on social media. (Allianz)
- NH: I have long attributed the rise of the so-called "experience economy," at least in large part, to the fact that social media enables experiences (like a meal or vacation) to be put on public display in a way that used to be possible only for things (cars, jewelry, homes). The force of Thorstein Veblen's socially competitive "conspicuous consumption" thereby becomes as operative for experiences as for things. This survey of Millennial attitudes seems directly supportive of this thesis. (See: "The Immaterial World.")
- New research shows that 45- to 49-year-old U.S. Xers have 5% less median real disposable household income than Boomers did at the same age—while 30- to 34-year-old Millennials have 5% less than Xers did at the same age. These figures illustrate how, thoughout the high-income world, generational progress in living standards is slowing down or even (in some countries) reversing. (Resolution Foundation)
- NH: These numbers come from a very readable report, Cross Countries: International Comparison of Intergenerational Trends, sponsored by the Resolution Foundation. This foundation, in turn, is the brain child of David Willetts, a policy U.K. academic and former Conservative MP and cabinet member who has been an outspoken critic of generational unfairness to the young. In 2010, he wrote a widely reviewed blast against his own generation: The Pinch: How the Baby Boomers Took Their Children's Future--and Why They Should Give It Back.
- A new study found that singles were more likely to express a preference for a short-term fling after being shown photos of luxury items. The study exhibits the human tendency to adjust mating preferences to changing circumstances—opting for the security of monogamy during tough financial times, and vice versa. (Evolution and Human Behavior)
- NH: This is an intriguing (if disturbing) look at the impact of "framing" on life choices. Show people images of fast cars and bling and they will more likely want a short-term affair; show them images of danger or family and they will more likely opt for a lifelong relationship. Another example of such framing are studies showing that judges are more likely to issue stricter sentences to guilty defendants after discussions or readings that remind them of their own mortality.
- Millennial “love coach” Samantha Burns promises to help her peers cope with modern-day relationship problems like “ghosting” and text-message breakups. As she puts it, “Many people hire an accountant to do their taxes, a personal trainer to lose weight, or a financial adviser to invest their money, so why not work with someone who can show you how to create a thriving love life?” (The Boston Globe)
- A new study finds that children who are exposed to gender-stereotyped toy images are less open-minded about whether kids should play with toys designed for the opposite gender. The study will likely serve as fodder for parents who want to raise inclusive, well-rounded children. (Sex Roles)
- NH: This study actually cuts both ways. Yes, it does show that kids exposed to more flexible-gendered images of kids playing with toys are less likely to be judgmental regarding boys or girls playing with the "wrong" sort of toy. But it also corroborated the findings of other studies which show that such exposure did not change these kids' own toy-playing preferences. Afterwards, in other words, boys were still as likely to want to play with boy toys and girls with girl toys. (See: "All Toys Allowed for Today's Kids.")
- In the wake of the school shooting in Parkland, Florida, late-wave Millennials are calling on Congress to pass legislation for stricter gun laws. The activism of today's kids focuses on the demand that adults do more to protect them from violence. (CNN)
- NH: Boomers protested in favor of less paternalism and protection so they could have more freedom in exchange for greater risks and dangers. They certainly got what they wanted, leading ultimately to the entirely hands-off child raising experience for Gen Xers. Millennials are protesting in favor of the opposite--more paternalism, more protection, more rules. And yes they too will end up getting a lot more of what they are asking for.
DID YOU KNOW?
Parenting’s Digital Divide. Today’s new moms and dads have plenty of tech at their disposal, from smart monitors that analyze sleep patterns to smart apparel that tracks vital signs. (See: "Strollers Get 'Intelligent.'") But how much digital assistance is too much? That’s the question asked by Raya Ramsey Rockwood in The Wall Street Journal. Rockwell, herself a new parent, documents her role reversal from a tech-skeptic (“real parents” should be able to do it themselves) into a tech-believer (parents shouldn’t be ashamed to enlist the help of devices). In many ways, the divide is generational: Boomer and Xer parents trusted their prescriptive baby books and—above all else—their intuition, while today’s Millennial parents don’t mind trusting high-tech devices. Rockwell isn’t ashamed, saying that if she could do it all over again, she’d “slide [her] credit card with wild abandon.” But she does strive for a happy medium: “I think we can find an equilibrium, using digital tools and resources to free up time and simplify the tedium so we can pick our heads up and be present.”
