Gen Z and Financial Nihilism: Is It Really Different This Time?

Introduction

Generation Z, born between the late 1990s and mid-2010s, has emerged with a distinct perspective on work and life. They challenge traditional work norms, seek purpose and freedom, and exhibit skepticism toward institutions and systems. In this blog post, we delve into the phenomenon of financial nihilism among Gen Z, examining the impact of economic crises, social media, and their drive for social change. Join us in exploring whether this generation's approach to work truly signals a departure from the past.

What I read today:

The key insights, tips and lessons from Kyla’s "Gen Z and financial nihilism on changing times" are:

Generation Z (born between the late 1990s and mid-2010s) has a different relationship with work than previous generations. They question the traditional 9-to-5 working day and seek greater freedom and meaning in their professional activities.

Generation Z has lived through a lot of economic downturns and crises, including the dot-com bubble, the 2008 global financial crisis and the COVID-19 pandemic. These events have shaped their relationship to the world, to work and to themselves.

Generation Z is sceptical of institutions and systems. They have seen trust in governments, banks and companies shaken and tend to question these structures.

Social media has a big impact on Generation Z. Online spaces offer community, but also a sense of hyper-individualism and superficiality. Consumerism and self-expression on social media shape the identity of the younger generation.

Generation Z has developed a strong awareness of social and ecological problems. They are frustrated by political stagnation, growing inequality and the lack of action against climate change. This has an impact on their behaviour in terms of work, consumption and social engagement.

The younger generation is looking for fulfillment and meaning in work. They strive for a work-life balance and are willing to explore alternative career paths to realize their personal goals and values.

Generation Z has grown up with technology and has a high level of digital literacy. They use online platforms to inform themselves, communicate and realize their potential. The influence of technology and algorithms on their behaviour and perception is significant.

The younger generation is eager to change the world of work and society as a whole. They are looking for alternative working models, social justice and sustainability. Their quest for change can influence the way we think about work and the economy.

Here are my notes on it:

- A study reveals that resignation and the feeling of being passively exposed to crises dominate the daily lives of many people.

- Over 85% of respondents believe that a decline in prosperity is likely, and over 60% see no way out of the crisis.

- The study examines how to engage people who feel like they are falling and highlights the need to address their concerns.

- The majority of respondents (74%) feel passively exposed to the crises, while only 24% take an active approach to dealing with them.

What I saw today:

My notes on it:

Factors supporting Ethereum's potential growth:

• VanEck predicts a $50,000 price for Ethereum by 2030 based on its revenue model, decreasing coin supply, and involvement in blockchain activities.

• Ethereum's revenue model primarily relies on transaction fees, and its decreasing coin supply over time may contribute to price appreciation.

• Ethereum's involvement in various blockchain-related activities and its first-mover advantage could support its potential growth.

Potential challenges and risks:

• Regulatory risks and potential competition from other layer-one rivals could threaten Ethereum's dominance.

• VanEck's growth assumptions, particularly regarding the metaverse investment thesis, may be considered aggressive and have faced recent challenges.

Potential drivers of price movements:

• Ethereum's burning model, decreasing supply, and increased staking could drive significant price movements in the future.

• The significant amount of Ethereum being staked and the potential impact of liquid staking in the next market cycle could lead to price fluctuations.

Ethereum price predictions:

• While a $50,000 price prediction for Ethereum by 2030 seems ambitious, there is speculation about the possibility of reaching $25,000, which would still be a significant increase from current prices.

Growth of Ethereum layer 2 solutions:

• Ethereum layer 2 solutions such as Arbitrum and Optimism are attracting users and daily transactions that surpass Ethereum itself. This growth may impact Ethereum's future trajectory.

Investment opportunities:

• The Mantle Network is highlighted as a potential investment opportunity with the potential to attract massive cash flow.

• Tokenization of real-world assets on the Ethereum blockchain, including treasury products, presents investment potential.

• The interest of financial institutions like BlackRock in blockchain technology suggests the possibility of future investment opportunities and a potential BlackRock Ethereum ETF.

What I listened to today:

What I liked today:

What I learned today:

Random Thoughts:

Currency systems reflect the balance of power in the world: they do not change it.

That’s it for today! ☺️