The Millennial Dream
The Millennial Dream changed the course of the future. It brought powers down and made others rise. Gone are the days where college is the only path you can take, where people only work traditional jobs, and individuals buy a home the first chance they get.
We changed all that.
Because tech, computer science, and coding are on the rise, companies are becoming more open to alternate forms of education and experience. They are accepting non-traditional schooling for those seeking to get into these fields. These companies are now more interested in “what you can do” compared to those in the past that focused on what school you came from. Talent and skills became the new name of the game. Schools are slowly coming under pressure to make a change to adapt with the times. In addition, industries that people never thought would happen are now multimillion dollar industries. These include being an influencer, vlogger, blogger, ecommerce, cryptocurrency traders, foreign exchange traders, and video gaming.
An example of this that came out recently is this article by CNBC about some of the most dominant companies in the world no longer requiring a college degree. (https://www.cnbc.com/2018/08/16/15-companies-that-no-longer-require-employees-to-have-a-college-degree.html)
Millennials are not content anymore with just a decent paying job. They want to be proud of where they work. They want their employer to do good and have missions that align with theirs. Employers need to do good for society. That was never a concern before. They want more vacations and they want to travel the world. They fight for their right in the workplace and outside of it. They are not afraid to be whistleblowers anymore. Companies that understand this are thriving. Those that do not or are afraid of these changes are losing traction. It comes back to the old saying in business, “Adapt and innovate or die.” The S&P500 will look very different 10 years from now. That is a fact.
Real estate, as we know it, is in danger. Millennials do not prioritize buying a home. They are more interested in finding a culture that they fit in with and working remotely from there. AKA, the digital nomad. In addition, it doesn’t help that at the moment real estate values are at all-time highs. They are finding more value in experiences than materialistic items and goods. The most sought-after lifestyle is that of a digital nomad. Where one can travel and live how they see fit and change the location on a dime. Individuals that have created careers or have careers that can afford this lifestyle are the new “Joneses”.
I think that this is a good thing overall. Schools need competition, companies need to change, and people need to experience more in life. There is only so much one can experience and learn while staying put. I used to believe that one can, but one trip overseas was all it took for me to understand how stupid that thinking and logic was.
Regardless of whether you like the change that is happening, the fact is that this is the new norm. At this point there is only so much that one can do. Coming full circle, “Adapt and innovate or die.”