OnlyFans and AI training: why gen Z doesn’t care where our money comes from | Alice Lassman
With traditional goals such as stability and homeownership feeling out of reach, young people are focused on the present By now, we all know the shape of financial nihilism: the throw-your-money-at-anything reaction to the dissolution of the slow, linear path to wealth; the prediction markets , meme stocks , cryptocurrencies and microluxuries growing in its place. We’re left in an economic no…
The modern economy has become increasingly unreliable for young people, who are struggling to find stable employment and secure their financial future. Traditional goals such as homeownership and a leadership position in their career have become unattainable for many members of Generation Z. This has led to a growing indifference towards the ways in which they earn their money, as well as where that money comes from.
The traditional path to wealth, which involved a gradual accumulation of resources over time, has been replaced by a more unpredictable and speculative approach. Young people are turning to financial nihilism, which involves throwing their money at anything that promises immediate gratification, such as meme stocks, cryptocurrencies, and microluxuries.
This shift in attitudes towards work and money is a result of the insecurity that many young people face in the job market. Traditional employment is no longer a reliable source of income, as many jobs are now insecure and do not provide a stable foundation for building wealth. Furthermore, the high cost of living, including housing and raising children, has made it even more difficult for young people to achieve financial stability.
As a result, the concept of hope has become increasingly important for young people, as it provides the incentive to continue working long hours despite the lack of long-term prospects. However, when the production function of income breaks down, with hard work no longer translating into a stable salary, a sense of nihilism sets in.
This is the reality that Generation Z faces today, as they grapple with a rapidly changing economic landscape that leaves them feeling disconnected from traditional notions of success and financial security.
Written by urgent.news from Guardian Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
