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☆ Don't feel too sorry for Gen Z — they're outpacing boomers on income and millennials on home ownership
▼ + stars: | 2024-05-02 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. But things might not be as bad for Gen Z as they seem. Members of Gen Z are projected to spend more on housing costs like rent, mortgages, insurance, and utilities after inflation between the ages of 22 and 30 than millennials did, a recent RentCafe analysis found. Related storiesYet Gen Z's typically higher earnings mean they'll only spend an estimated 30% of their income on housing compared to 36% for millennials. AdvertisementSuccess may be short-livedIt's worth digging into why Gen Z is doing well financially.

Persons: —, Gen Z, Z, boomers, Gen, millennials, They've, lockdowns, Zeds Organizations: Service, Business, Reserve, millennials

☆ Forget Recession, New York City Is Entering a Wild New Gilded Age
▼ + stars: | 2024-04-04 | by ( Linette Lopez | ) www.businessinsider.com time to read: +16 min

In a country roiled by recession worries, those at the top of New York City — for better or worse — couldn't give a single gilded shit. For New York City, a brush with death called for a time of decadence. "New York City's restaurants and bars are experiencing an uneven pandemic recovery nearly four years after COVID-19 struck our city," Andrew Rigie, the executive director of the New York City Hospitality Alliance, said. AdvertisementIf a pandemic can't defeat New York City, a little inflation certainly isn't going to do it. And what that looks like is the affluent in New York City eating caviar, and poorer Americans eating cereal.

Persons: Steve Jobs, it's, Jennifer Saesue, Saesue, Fish Cheeks, Z, bistros, James Murphy, us Carbone, Casas — Cruz, Cipriani, Jean, Georges Vongerichten, Bongo, Andrew Rigie, Corey Mintz, we're, WK Kellogg, Gary Pilnick, Gary Pilnick's Organizations: Grand Prospect Hall, New, New York City, Apple, Mastercard, Chefs, Casas, Soho House, Bangkok Supper, Village, IBA, Hospitality Alliance, Nationwide, National Restaurant Association, Nasdaq, The University of Michigan Consumer, UBS, New York Locations: New York City, New York, Rome, Xinjiang, New, Manhattan, Coqodaq, Las Vegas, York, Bangkok, Hell, TouchBistro, Brooklyn, The Bronx

☆ I shopped like Gen Z and saved $456 on dupes I found at Five Below
▼ + stars: | 2024-03-06 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

The discount store Five Below is known for its "dupes" or duplicates of high-end products. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Its cheap products align with the dupe culture that's popular among Gen Z. Dupes — short for the word "duplicates" — look like high-end products but have much lower price tags. As Business Insider's Jennifer Ortakales Dawkins put it, Gen Z "prefers knockoffs more than other generations" and is obsessed with getting things at a bargain. I'm technically a Zillennial — falling between millennials and Gen Z — so I took inspiration from younger shoppers on a recent visit to Five Below.

Persons: —, Z, Jennifer Ortakales Dawkins, I'm Organizations: Service, — Locations: Pennsylvania, millennials

☆ Declining boomer ownership will free up 9.2 million homes by 2035, Freddie Mac says
▼ + stars: | 2024-02-28 | by ( Aruni Soni | ) www.businessinsider.com time to read: +3 min

Declining boomer ownership will free up 9.2 million homes by 2035, a Freddie Mac report found. The 32 million homes owned by boomers will drop to 23 million by 2035, when the oldest members of the group are pushing 90. A new report from Freddie Mac estimates that declining homeownership for the group will free up 9.2 million homes by 2035. The generation accounts for about 21% of the total US population, but they own 38% of American homes, Freddie Mac found. The 32 million homes owned by the generation as of 2022 will drop to 23 million in 2035, when the oldest boomers will be close to 90 years old.

Persons: Freddie Mac, —, Meredith Whitney Organizations: Service, American Consumer Survey

☆ Opinion | Toxic Beauty Standards Can Be Passed Down
▼ + stars: | 2024-02-24 | by ( Alexandra D Amour | ) www.nytimes.com time to read: +2 min

Our generation came of age during the ’90s toxic diet culture. Millennials weren’t taught to fear aging; we were taught to fear fat. And if you had a mother who internalized diet culture and projected it onto her children, the damage could also happen from within the family. Researchers have found that mothers who encourage weight loss or food restriction or even express dissatisfaction with their body weight may lead to their daughters’ becoming more likely to have eating-related problems. As my generation grew up and became more conscious of the impacts of diet culture, we began to openly celebrate and encourage body positivity.

Persons: Millennials weren’t, Z, —, I’ll Organizations: Walgreens

☆ A 21-year-old went viral at a 'Shark Tank' casting call for her phone case organizer that viewers called dumb — but here's why she's doubling down
▼ + stars: | 2024-01-24 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +5 min

21-year-old college senior Abby Rosilier made several TikToks at a "Shark Tank" casting call in Vegas. But while many viewers criticized her invention — a sheet of acrylic adorned with custom hooks where customers can store and display their smartphone cases — Rosilier is doubling down. Advertisement"We were pitching the Rack, but selling part of Abby Rose too with it," Rosilier told BI of the "Shark Tank" pitch. Nevertheless, Rosilier told BI she and her brother "did so good" when it came time to present. Advertisement"I have never had that level of hate on my business account ever," Rosilier told BI.

Persons: Abby Rosilier, Rosilier, —, she's, Abby Rose, it's, Zach Organizations: Service, Las Locations: Vegas, Las Vegas, San Antonio , Texas

☆ Go to the office 4 to 5 times a week if you're young and want to score a promotion, says a corporate leader
▼ + stars: | 2024-01-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Read previewJunior employees should show up at the office more often if they want to score promotions, says a corporate leader. "If you're asking me my opinion on how you succeed in your career," Kevin Ellis, the chair of PricewaterhouseCoopers UK, said. With AI now a part of the workplace, face time and getting people together in the office is important, he added. Companies have been struggling with how to manage remote work following the COVID-19 pandemic. That's because, as my colleague Amanda Goh wrote last year, the generation still can't make up its mind about going into the office.

Persons: —, Kevin Ellis, Ellis, Jamie Dimon, Goldman Sachs, David Solomon —, Gen Z —, Amanda Goh Organizations: Service, Business, PricewaterhouseCoopers, Bloomberg, Economic, JPMorgan Chase Locations: Davos, Switzerland

☆ Millennials and Gen Z are giving up on one of their core values and investing more like boomers
▼ + stars: | 2024-01-11 | by ( Cork Gaines | ) www.businessinsider.com time to read: +9 min

Preference for environmental, social, and governance — or ESG investing plummeted in 2023 among millennials and Gen Z. The survey examined the support for environmental, social, and governance (ESG) issues and investing across different age groups. Investments receive an ESG rating, and ESG investors pick assets that align with their views on these subjects. AdvertisementIn the survey, preference for ESG investing among millennials and Gen Z — aged between 18 and 41 — plummeted significantly compared to the year before. Tim Paradis and Alex Nicoll of Business Insider explained in December just how controversial the topic of ESG investing has become.

Persons: Z, Gen Zers, Tom Grill, Amit Seru, Seru, David F, Tim Paradis, Alex Nicoll, ESG, Paradis, Nicoll, Sara Eisen, Eisen Organizations: Service, Stanford University, Hoover Institution, Rock Center, Corporate, Investments, Stanford Graduate School of, Stanford Graduate School of Business, United, Investment, Republican, Business, Europa Press Locations: United States

☆ While some are making fun of Gen Alpha's 'brainrot' memes, Gen Zers are reminding each other of the ridiculous memes they grew up with
▼ + stars: | 2023-12-04 | by ( Kieran Press-Reynolds | ) www.businessinsider.com time to read: +3 min

As Gen Alpha memes dominate the internet, many have ridiculed them for being too inane. Gen Zers are now reminding each other their memes have been equally as ridiculous as "Skibidi Toilet." Older generations — particularly Gen Z — worried they were falling out of touch since they didn't understand its nonsensical humor. Three of the most popular TikToks over the last few weeks feature chaotic montages recalling popular Gen Z memes. The TikToks feature hypothetical quotes on-screen about people saying Gen Alpha "is literally watching brainrot," and then include a statement insinuating that what Gen Z watched wasn't any better.

Persons: Zers, —, Z —, Alpha, Gen, Snoop, Gen Z, Y'all, Zers didn't, @aymj13, Knuckles Organizations: Alpha, Service Locations: yolo

☆ Washington's secret weapon is a beloved Gen Z energy drink with more caffeine than God
▼ + stars: | 2023-11-26 | by ( Lauren Vespoli | ) www.businessinsider.com time to read: +8 min

Celsius, the suddenly-ubiquitous energy drink, is a favorite of Gen Z — and Capitol Hill. "I love to take meetings in front of the Celsius vending machine," he told Business Insider. "It's a way better alternative to coffee, honestly," Robertson told Business Insider. "Capitol Hill is full of young, energetic career-oriented people who by and large care about fitness," he told Business Insider. Stanford said these young workers are part of a new consumer group that's helping drive the overall growth of the energy drink market.

Persons: Z, —, Matthew Hoekstra, Gen Z, Brent Robertson, Roger Marshall, Victoria Knight, Knight, she's, Robertson, Hoekstra —, Matthew Hoekstra Florida, Anna Paulina Luna, w3O2gsMYXP —, Eric Garcia, Rayburn, Dirksen, — Doug Andres, @DougAndres, curt, Duane Stanford, Stanford, Hoekstra, John Parra, Garcia Organizations: Capitol, Service, Republican Kansas, Capitol Press Corps, PepsiCo, Vibe, Caucus, The Independent, Republican House, Cannon, Beverage, Essential Energy, Republicans Locations: Washington, Rayburn

☆ Gen Z is lonely. Going back to the office may be the cure for some.
▼ + stars: | 2023-10-31 | by ( Aaron Mok | Lakshmi Varanasi | ) www.businessinsider.com time to read: +12 min

The solitude of remote work seemed to particularly hit Gen Z workers — who began their careers as workplaces went from in-person to virtual — hard. With companies asking — and in some cases mandating — their employees return to the office, Gen Z workers who are going in regularly have said they have a renewed sense of confidence in their jobs. Since Fitchett's employer started mandating employees go to the office, Fitchett said he finally feels a sense of ease at his job. Don't expect a full-scale return to the office quite yetThere's more that goes into a worker's preferences than loneliness, and Gen Z workers are mixed about returning to the office full time. For her — and many other Gen Z workers — the solution may come in some form of flexibility.

Persons: Ben Fitchett didn't, Fitchett, Ben Fitchett, Ben Fitchett Young, Aaron Terrazas, —, Cigna, Hubert Palan, Z, Covid —, Palan, Vivek Murthy, it's, Mansoor Soomro, Soomro, Gen, Juanita Garcia, Garcia, who've, Zers, Anita Pan —, Anita Pan, Pan, Ricky Yean, Zers —, Yean, Bianca Wu, Bianca Wu Bianca Wu, Wu, wouldn't Organizations: Company, Teesside University, Starbucks, Flow, Dell Locations: New Zealand, Los Angeles, New York, Washington , DC, Bay

☆ Gen Zalpha doesn't really care for sex on TV — they're here for 'nomance' and on-screen friendships
▼ + stars: | 2023-10-27 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Teens and young adults are over romance and sex in TV shows and movies, per a new survey. 51.5% of those surveyed want to see more "nomance," or content based on friendships and platonic relationships. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementAdvertisementTeens and young adults are over romance and sex in TV shows and movies — what they really want to see on screen is a lot more "nomance." And younger people are also having less sex than their parents did at their age, per UCLA's California health interview survey.

Persons: —, Zalpha, there's, Stephanie Rivas, Lara, Hiral Kotecha, Vivek Murthy, " Rivas, Kotecha, Z Organizations: Service, UCLA, Alpha Locations: America, California

☆ Hey managers, we should be answering Gen Z's questions, not just complaining
▼ + stars: | 2023-10-21 | by ( Tim Paradis | Diamond Naga Siu | ) www.businessinsider.com time to read: +8 min

It's easy for older workers to complain about Gen Zers as being lazy or entitled. Yet some Gen Z workers are questioning norms that need to be reconsidered, experts tell Insider. AdvertisementAdvertisementWe've all heard the complaints about Gen Z and how they're rattling older managers . People older than Gen Z created the social platforms some Gen Zers are sounding off on. 1 thing she hears from older workers is that Gen Zers ask too many questions.

Persons: Gen Zers, —, Gen, Gen Z, Zers, TikTok, Kenneth Matos, Matos, who's, Xer, " Matos, Rebecca Fagan, she's, Fagan, Maia Ervin, Ervin, it's, millennials, they're, Z Organizations: Service, Boomers, KPMG, Gen, JUV Consulting Locations: Zaria

☆ How do you climb the corporate ladder? ‘Put your hand up,’ says CEO whose company has raised $280 million
▼ + stars: | 2023-10-12 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

Members of Gen Z — or those born between 1997 and 2012 — are eager to climb the corporate ladder. Whether you're part of Gen Z or not, there are all sorts of ways to reach the heights of leadership. If you ask Ryan Simonetti, CEO of hospitality company Convene, which has raised more than $280 million in funding, it's about taking on projects beyond the scope of your role — especially when your company is in a bind. When an opportunity to take on new and pressing work arises, "put your hand up," he says. The people who've raised their hands at Convene have consistently continued learning, says Simonetti, "and that's created opportunities for them professionally."

Persons: Gen Z, —, Ryan Simonetti, There's, there's, who've, that's Organizations: CNBC, Fast, Innovation

☆ Apple has a stunning stranglehold over Gen Z — and it'll pay off for decades to come
▼ + stars: | 2023-10-11 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Researchers found many teens have the iPhone and the Apple Watch — and also use Apple Pay. Still, Apple Music doesn't lead the way: More teens use Spotfiy, the survey says. The report says 42% of teens were found to have used Apple Pay, the tech company's cash transfer app. And 34% of teen respondents said they own an Apple Watch. An incoming call on on Apple Watch, the most popular watch brand among teenagers.

Persons: Piper Sandler, Spotfiy, —, Gen, Piper, Max —, Hiroshi Lockheimer, Lockheimer, Thomas Haigh, doesn't Organizations: Apple Watch, Apple, Service, Casio, Garmin —, YouTube Music, Amazon Prime, Street Journal

☆ Trust in AI tools like ChatGPT is high among Gen Z — but Gen X and boomers aren't convinced, study finds
▼ + stars: | 2023-10-03 | by ( Aaron Mok | ) www.businessinsider.com time to read: +5 min

Most Gen Xers and boomers in a Salesforce study reported not using generative-AI tools like ChatGPT. Out of all the respondents who said they didn't use generative AI, 68% were born between 1946 and 1980. And 88% of nonusers ages 57 and above said they weren't using generative AI because they didn't know how the technology would affect their lives. AdvertisementAdvertisementFrom firsthand experience, Rogers said he believed that AI technology could make a positive impact on the lives of people about his age. AdvertisementAdvertisementIn fact, the Salesforce research suggested that older nonusers were open to using AI under certain circumstances.

Persons: Xers, —, Gen Xers, Zers, Chris Rogers, Rogers, he'd, he's, Priscilla O'Kesson Organizations: Service, University of Oxford's Institute, Population Ageing, Spectrum Locations: San Francisco, UK, Australia, India, Oklahoma City, Oxford

☆ The American nuclear family is officially over
▼ + stars: | 2023-09-16 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

The American nuclear family is officially dead, according to a new analysis from the Pew Research Center — even if some Americans haven't accepted it. In 1970, nearly 70% of American adults ages 25 to 49 were living with a spouse and at least one child. "Family living arrangements are becoming more and more diverse in their composition," Carolina Aragão, one of the authors of the Pew report, told Insider. While married adults with kids are still the most common family arrangement, "they are far less common than they were in the past." AdvertisementAdvertisementBut even as the American family changes, it doesn't mean Americans feel good about it.

Persons: haven't, that's, they're, Z, who's, That's, Aragão, Pew Organizations: Pew Research, Service, Pew Research Center, Pew, Census Bureau, Black, Hispanic Locations: Wall, Silicon, Carolina, United States

☆ World's youngest self-made billionaire: Success comes from taking these 2 common traits 'to the extreme'
▼ + stars: | 2023-06-23 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

It may be hard to believe that Austin Russell, the world's youngest self-made billionaire, has anything in common with others his age — but he insists that he does. The company, which Russell founded 11 years ago as a teenager, develops hardware and software meant to power self-driving cars. But rather than focusing on technological expertise or business acumen, Russell credits his journey so far to two traits common among younger generations: energy and passion. "People in their 20s have a lot of great energy," Russell tells CNBC Make It. Building such a company takes more than just passion and energy, Russell admits.

Persons: Austin Russell, Russell, Thiel, Gen Xers, they're, Forbes, —, Warren Buffett Organizations: Technologies, Thiel Fellowship, Stanford University, CNBC, Benz, Volvo Locations: Orlando , Florida, Luminar

☆ Marketing leaders are urged to be bold and align with purpose — as long as it's true to the brand
▼ + stars: | 2023-06-21 | by ( Julia Hood | ) www.businessinsider.com time to read: +5 min

Insider convened a panel of leaders from Diageo, Mastercard, and Goodby, Silverstein & Partners at Cannes Lions. The speakers said it's important to understand your brand's context in order to decide what purpose initiatives it should align with. Marketing leaders were urged not to let external pressures — like those recently faced by Bud Light and Target — keep them from taking risks and aligning with purpose. Goodby spoke about how important it is to understand the brand "context" when creating these kinds of campaigns. "Every brand has a context ... and the context of your brand has to be taken into account," he said.

Persons: Bud Light, Raja Rajamannar, Cristina Diezhandino, Jeff Goodby, Silverstein, Jasmine Enberg, Joi, Marie McKenzie, McKenzie, Gen Z, Diageo's Diezhandino, Goodby, Rajamannar, Intelligence's Enberg, Enberg Organizations: Diageo, Mastercard, Silverstein, Partners, Cannes Lions, Morning, Cannes Lions International, Insider Intelligence, BMO Locations: Spain

☆ Gen Z is good business: Alex Cooper's new media company shows the allure of targeting young consumers
▼ + stars: | 2023-06-17 | by ( Alexandra York | ) www.businessinsider.com time to read: +5 min

Gen Z has some $360 billion in global spending power — something brands want to tap into. That's a large chunk of Gen Zers and Zillennials, the subgeneration between millennials and Gen Z. "Signaling to the Gen X crowd, 'Hey, we're a Gen Z media company. You're a company that doesn't know Gen Z and you want to sell to Gen Z. "It's really to attract the corporate partners, the advertisers, and to say 'We're the gateway to the Gen Z audience.'"

Persons: Alex Cooper, Cooper, Matt Kaplan, Z, —, fiancé Matt Kaplan, Kaplan, Gen Z — Cooper, Gen, That's, Jared Watson, University's, Zers, Kitty, Watson, hadn't, we're Organizations: Spotify, Service, Entertainment, Pew Research, University's Stern School of Business, Variety, Media, Gen, Companies Locations: New, millennials, Pennsylvania

☆ 10 Things in Tech: Bernstein's brutal letter to Andy Jassy, the price of our AI future, and Reels vs. TikTok
▼ + stars: | 2023-06-08 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +4 min

But now, let's find out why a major Wall Street research firm has hit out at Amazon. Andy Jassy, who leads Amazon Web Services, will replace Jeff Bezos as Amazon CEO and leaves an opening for a cloud new leader. A top Wall Street firm wrote a brutal open letter to Amazon CEO Andy Jassy. Meta's short-form video service, Reels, is starting to make headway against TikTok, according to a new survey by Morgan Stanley. Amazon is reportedly plotting an ad tier for Prime Video, according to a report in the Wall Street Journal.

Persons: Nathan Rennolds, —, let's, Andy Jassy, Jeff Bezos, Mike Blake, Bernstein, Amazon . Bernstein, Mark Zuckerberg, Bill Gates, Morgan Stanley, I'm, Zach Smith, Z, Ben Thompson, Yuvo, YouTuber Matt Mikka, Tesla, Matt Mikka, Hallam Bullock Organizations: Amazon Web Services, Amazon, Wall, Amazon ., Getty, Facebook, TikTok, Apple, Prime, Street, Health Centers, Mastry Ventures, Samsung Locations: London, TikTok

☆ Gen Z isn't afraid of unemployment — and they don't trust their employers, Suzy Welch says. Her late husband Jack Welch slashed 112,000 jobs at GE.
▼ + stars: | 2023-05-22 | by ( Grace Kay | ) www.businessinsider.com time to read: +5 min

NYU Stern professor Suzy Welch told CNBC that "funemployment" shows a shift in how Gen Z views work. Welch said in an interview with CNBC that Gen Z — those born from mid-1990s to early 2010s — isn't afraid of unemployment like previous generations. Welch told CNBC that while Gen Z isn't promoting joblessness by choice, their perspective on the issue has shifted "far away" from that of previous generations. They think: 'We're going to be together for as long as we're together, then I'm going to be funemployed, and then I'm going to move on to my next engagement.'" However, Gen Z has indicated they're more concerned about work-life balance and less willing to put up with a toxic work culture.

☆ Over half of Gen Z and millennials say they're struggling with the question of how to start a family while living paycheck to paycheck
▼ + stars: | 2023-05-17 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +5 min

A new Deloitte survey finds that over half of Gen Z and millennials live paycheck to paycheck. That also means Gen Z and millennials feel like starting a family or owning a home are out of reach. Indeed, cost of living remains the biggest concern for Gen Z and millennials, with over a third of Gen Z ranking it as a top concern, and 42% of millennials staying the same. Half of Gen Z and 47% of millennials said that they expect starting a family "to become harder or impossible." Are you a Gen Zer or millennial living paycheck to paycheck, and rethinking what your future will look like?

☆ Gen Z isn't letting the economy keep them from living their most luxurious lives. They're just buying stuff secondhand instead.
▼ + stars: | 2023-04-12 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

About a third of Gen Z choose secondhand to afford higher-end brands, according to a ThredUp report. And even increasing economic uncertainty is not deterring their pursuit of the good life — they're just buying secondhand instead. About 30% of Gen Z — those born between 1997 and 2012 — are buying secondhand items to afford higher-end brands, according to an April 5 resale report by ThredUp, an online thrift store and resale platform. Moreover, 64% of the surveyed members of Gen Z look for an item secondhand before buying it new, up four percentage points from 2021, per ThredUp's report. And while Ricci wasn't specifically referencing her habits in relation to buying secondhand items, ThredUp's report states that more than 80% of Gen Z considered the resale value of apparel before making a purchase.

☆ Should adults be financially independent by 21? Boomers think so, but Gen Z disagrees.
▼ + stars: | 2023-04-10 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Baby boomers and Gen Z kids are divided on what age adults should start paying their own bills. 68% of US parents are sacrificing savings to financially support their adult kids, Bankrate found. Part of the reason could be that parents are sick of sacrificing their hard-earned cash to financially support their adult kids. The study found that 68% of parents have made a "financial sacrifice" to help their adult kids with their finances. As a result, adult children may find it harder to achieve financial independence.

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