We record so other people can ask. Basic journalism. Observe and report. The first photo was produced in 1822 and the first photo editing software was developed in 1987; for a brief moment in human history, we could verify reality. Photos were shot on film, unaltered. Audio/Visual was live or recorded on tape, unaltered. Pen to paper, words will always be biased because language is human. As readers become more and more skeptical of what they’re reading, they rely on stories, gossip, and vibes.
Rich Fiction
Gen Z is rich:
Millennials were somewhat better off than Gen X—those born between 1965 and 1980—when they were the same age [as Gen Z]. Zoomers, however, are much better off than millennials were at the same age. The average 25-year-old Gen Zer has an annual household income of over $40,000, more than 50% above the average baby boomer at the same age.
Gen Z’s economic power was on display at a recent concert by Ms Rodrigo in New York. The mostly female teenagers and 20-somethings in attendance had paid hundreds of dollars for a ticket. Queues for merchandise stalls, selling $50 t-shirts, stretched around the arena. Ms Rodrigo will have no trouble shifting merchandise in other parts of the world, as her tour moves across the Atlantic. That is in part because Gen Zers who have entered the workplace are earning good money throughout the rich world. — Generation Z is unprecedentedly rich, The Economist
The writer must be obsessed with Olivia Rodrigo because she’s referenced at least three times for no reason (this is how you know it’s not AI-written). Anyway, the article explains how Gen Z reports feeling anxious and disenchanted, grappling with high costs of living and education, which casts a shadow over their financial gains. This dissonance highlights a broader societal shift, where despite being better off on paper, the emotional and psychological well-being of the youngest working generation does not necessarily align with their financial metrics, leading to a complex relationship with work and life satisfaction.
We complain about money online and in person, and telling young people to just shut up and be grateful makes them even more rebellious. We know this.
The obvious answer is social media. Every day, we are bombarded with information about how someone else is doing better than you, and keeping up with the Kardashians is impossible.
This, of course, brings me to AI.
Redefining Work
Everything that can be automated, will be automated. Last week, I wrote about how students have been using AI tools, like ChatGPT, to write their papers. I argued that, instead of forbidding it, we should accept it, and teach students how to use these tools. The same applies here. The older half of Gen Z started their careers during the pandemic, working remotely from home. Working from home makes you realize that you actually don’t need to spend eight hours straight at your desk. You can take breaks for cooking, cleaning, doing laundry, or even taking naps. The work still gets done, just on a different schedule. Now I know this doesn’t apply to service jobs like retail or waiting tables, but that’s why those jobs are done in shifts — even if you can work 8-10 straight hours, you probably shouldn’t, and your output on the tail-end of that will probably suck.
Hence, an experiment: The 4-day workweek:
Bank of America also expects the changing post-pandemic work landscape to result in a shorter workweek. The firm noted that Henry Ford “pioneered” the weekend from a typical six- to seven-day workweek in the early 1900s. Ford believed that giving his workers more days off would increase their leisure time, and, in turn, encourage them to buy more cars. His plan paid off, which led other companies to follow suit.
“If automation helps free workers from mundane and repetitive tasks the future of work might tilt towards more leisure time,” said BofA. “Just as we have labor-market policies to shape people’s working lives today, we might also need ‘leisure market policies’ to shape how people spend their spare time in a more radical future of work.” - A 4-day workweek could be coming as AI proliferates — and these companies could capitalize, CNBC
Another contributing factor to the shift away from a normal work week is the increase in part-time jobs and gig work. The latest Jobs report from earlier this month, while positive, skewed toward part-time positions. Full-time jobs decreased by 187,000 while part-time employment rose by 51,000, according to the household survey. While this number is not specific to Gen Z, it’s indicative of a structural shift in the make up of the job market, stemming from a growing mismatch the jobs that are available and the people looking for work — also known as structural unemployment. Some of Gen Z is even doing away with white-collar work altogether:
Enrollment in vocational training programs is surging as overall enrollment in community colleges and four-year institutions has fallen. The number of students enrolled in vocational-focused community colleges rose 16% last year to its highest level since the National Student Clearinghouse began tracking such data in 2018. The ranks of students studying construction trades rose 23% during that time, while those in programs covering HVAC and vehicle maintenance and repair increased 7%. — How Gen Z Is Becoming the Toolbelt Generation, WSJ
The Economist article also mentioned how America now has more than 6,000 Zoomer chief executives and 1,000 Zoomer politicians, hinting that their power is on the rise. A skeptical generation unimpressed with the hustle culture of the one before them seems eager for change. Their financial success, juxtaposed against a backdrop of existential dread, underscores a pivotal societal evolution where traditional metrics of success just don’t cut it anymore. Work will become more productive, more creative, more flexible, and more meaningful.
Thank You
Every week there’s a new article about how great the economy is doing and then another article about how the younger generation is lonely, or anxious, or depressed, or in shambles, or anything but happy. It gets to a point where you just don’t believe it anymore. Sentiment is much stronger than stats because it actually drives decisions. Even the fed, which claims to make decisions by observing the data, is pressured by the politics of it all, and a big factor in their decision is consumer sentiment. As more of Gen Z enters leadership positions, their sentiment will be the ones making decisions — so it’s probably best to give them a listen. As always, if you have any questions, want more explanations, or strongly disagree, comment below, follow me on Twitter (X), follow me on Instagram, or shoot me an email.
Disclaimer: These views are my own, and do not necessarily reflect the views of any organization with which I am affiliated with. This article is written with AI assistance.