NEWSWIRE: 3/14/18
- Pew Research Center has decided on its official birth years for the Millennial Generation: 1. We’ll agree to disagree: Generations typically span around 20 birth years, and cutting off the Millennial Generation at 2004 (as we do) ensures that even the youngest remember a time before the GFC and the election of Barack Obama. (Pew Research Center)
- NH: I've had a long and collaborative relationship with Pew Research. But here I part company. The social generation (referring to everyone in a society that comes of age at roughly the same time) is an ancient idea--with references going back to the Old Testament and Homer and extending through the most eminent social theorists since the early 19th century. Nearly all of these sources agree that the length of a social generation should be somewhere between 20 years (length of the phase of life, like childhood--a definition I prefer) to maybe 30 years or so (the average age of parenthood at the birth of a child). No one, however, has ever suggested a 15-year generation, meaning that a 4-year-old, a 12-year-old, and a 21-year-old can all belong to different generations. I've already argued against the 15-year Gen-X definition (1965 to 1980). And I regard Pew's new definition as just as puzzling. One strong motivation behind the recent "discovery" of ever-shorter generations is the desire of marketers and trend watchers to make news by announcing a "new" generation. (Ad Age originally defined "Gen Y" as starting in 1976!) It makes news, but does not make sense.
- Employers including Hulu are offering expectant workers a free or discounted Snoo smart crib, a device which normally goes for $1,160. In an era of stagnant wages, headline-grabbing benefits like these are a way to nab and retain top talent. (Bloomberg Business)
- NH: Welcome to the age of the in loco parentis employer, who knows better than the employee how to spend his or her paycheck. Back in the '90s, young Xers pushed employers to cash out every bit of their compensation. Xers wanted ownership of their pay, jealously guarded their consumption options, and didn't much trust their employers to make better choices on their behalf. All that is now changing. Paternalistic noncash benefits are much prized by Millennials, especially in the most cutting-edge workplaces. They regard a new benefit as a sign they are loved. Sure, an AI-actuated crib. Wow, I never would have thought of that on my own! Thank you so much! I'll pick that up at the end of my workday (after my espresso, my yoga, my fussball, and my tax prep advisor) when I head back to sleep with my infant in my spartan rental.
- Health care professionals and teachers are reporting that kids these days don’t have the hand strength or dexterity to hold pencils like they used to. Unlike previous generations of kids, Millennials and Homelanders have spent a good chunk of their childhood on their devices—which doesn’t breed the motor skills that outdoor play does. (U.S. News and World Report)
- NH: With the decline in recess, organized sports, body contact ("no touching" in school), and outdoor activity generally, young Homelanders are handicapped by a severe deficit in kinesthetic learning and the opportunity to develop both gross and fine motor skills. Learning good handwriting actually helps kids learn to read and think and suppresses learning disabilities. Later on, taking notes by hand (rather than on a digital device) is proven to boost subject matter retention. (See: "Generation Snowflake: Really? (Part 2 of 3).") In their pursuit of higher academic achievement, P-12 schools have pushed for hypertrophy of left-brained exercises ("use your words!") to the utter exclusion of right-brained activities necessary for age-appropriate development. Boys are especially disadvantaged by this trend. Mens sana in corpore sano used to be a staple of educators. What happened?
- Former U.K. Conservative Party politician David Willetts tells wealthy Boomers to pay more taxes to fund public services for future generations. While it’s unlikely that Boomers will spread the wealth through taxes alone, many Boomers are already passing down their accrued wealth to their own children and grandchildren. (BBC)
- NH: If and when Jeremy Corbyn unseats Theresa May by riding a Millennial voter tide, David Willetts can tell his Tory friends that he warned them. A similar Cassandra figure in the United States is Boston University economist Larry Kotlikoff, who has been explaining to his GOP associates for years that Boomers have to take a hit. If they won't accept lower benefits, then (he argues) we need a steep consumption tax that would disproportionately hit affluent elders. To which we can imagine Tim Ryan saying, sure Larry, I'll be sure to fight for that in the House right before the midterms!
- Fully 41% of single, employed 20- to- 36-year-olds without children would end a relationship in exchange for a promotion. High-achieving Millennials have become accustomed to deferring gratification in the name of pursuing professional and financial stability. (Comet)
- NH: Boomers came of age with "Can't buy me love" and "Live for Today" and any number of other anthems celebrating the triumph of higher Maslovian goals over crass materialism. Today, Millennials are dead serious about credentials and career paths. They don't take their eyes off the prize. A bad credit rating can stop a romance cold. (See: "Did You Know? Popping the (Credit Score) Question.") Hey, relationships come and go, but in my career I may have only one shot (feet fail me not).
- Xers spent an average of $738.87 on “drunk shopping” last year, the most of any generation and more than triple the amount ($206.11) that Millennials spent. Xers clearly need to consider the possible financial consequences before heading out for a night on the town. (Finder.com)
- NH: Let's call this the "Carrie Bradshaw indicator," right at the intersection of Xers, money, impulsivity, and wild urban living. Btw, Sarah Jessica Parker (who played Carrie on Sex in the City) turns 53 this month.
- Author Joel Kotkin says that the era of the “superstar” metro may be coming to an end. While major metro areas like Los Angeles and New York were among the quickest to recover from the Great Recession, Kotkin argues that issues such as housing affordability and shifting demographics favor “opportunity” boomtowns like San Antonio and Austin. (Chief Executive)
- NH: Kotkin is right: The hot bicoastal metro areas are becoming prohibitively expensive, triggering rising dissatisfaction from young residents. Biggest complaints: High cost of housing, inadequate schools, high taxes, unfunded pension tremors, and (in the bluest cities) overregulation of small businesses. Gen Xers are already migrating to Midwest, Mountain, and Sunbelt cities in growing numbers. When Millennials follow, they will do so en masse, picking a discrete number of winners where they can achieve critical mass. Which will these be: Denver, Houston, Columbus, Nashville, Kansas City, Charlotte, Orlando, Cleveland, even (gasp!) Detroit?
- Just 27% of Millennials approve of President Trump’s first year in office, compared to 64% who approved of President Obama’s first year. Though first-year approval ratings have dropped among every generation, Trump’s divisive brand of politics is a particular turn-off for teamworking Millennials. (Pew Research Center)
- Lego’s global revenue fell 8% YoY in 2017, the company’s first annual sales downturn in 13 years. Facing demographic headwinds in North America and Europe where fertility has stagnated, the company plans to double down on emerging markets like China and the Middle East. (Kidscreen)
- NH: This is the failure of success. Lego has done such a great job in recent years exploiting the smart-kid "maker" culture in every conceivable avenue (games, movies, songs, theme parks, apps, to say nothing of the ubiquitous toys) that the firm has created tough-to-beat comps. Sooner or later, they couldn't evade the top-line demographic brick wall--namely, fewer kids.
- BuzzFeed has launched a new sub-brand, “As/Is,” that will focus on body positivity and celebrating individuality. The brand’s inclusive, inner-beauty credo is a natural fit for Millennial readers who have learned to love themselves and others. (BuzzFeed)
DID YOU KNOW?
Planning Made Easy. It’s no secret that Millennials love to socialize with their friends. But it can be hard in today’s on-the-go world to make plans that work for everyone. Enter apps like PlanSnap, which lets users create and send a formal invite to friends in just a few clicks (similar to a Facebook event). Better yet, even friends without PlanSnap will be notified of the impending activity via phone notification. Another app, IRL, goes a step further by enabling users to send reminders to invitees about upcoming plans. Eventually, IRL will even enable users to purchase event tickets directly on the app. Microsoft’s Who’s In app, meanwhile, has a remedy for those confusing group texts in which plans often get muddled: Users simply create an event (or search from a list of pre-loaded locations or activities) and have their friends vote on the best option. Streamlining the decision-making process not only is a huge time saver—but also helps get users off of their devices and out socializing.
