While the U.S. economy continues to experience overall growth, startup companies have seen a decline since the great recession in part due to a sharp drop in entrepreneurship by Millennials.
Hedgeye Demography analyst Neil Howe (he coined the term “Millennial”) recently took a deep dive into the decline in overall business dynamism in the U.S., noting the rise in mergers and monopolies and the decline in entrepreneurship in the last decade. And since many Millennials are still trying to get a foothold in the workplace, that generation would prefer something closer to a “sure thing” in their employment.
Staking what little savings Millennials have on a startup company that could fail as soon as it starts is far too risky of an investment.
“Today [Millennials] get as good a degree as they can, and they go to Silicon Valley or wherever to get hired by a Boomer or an X-er who did a startup,” Howe says in the video above.
“That’s the Millennial formula to success. I hear it all the time from them. Startups are too risky.”
Watch the full video above for more.
