Generations X, Y, & Z

The economy is in the toilet but it's a good time to be an Xer.

Labels: 2008 Presidential election, Baby Boomers, financial crisis, Generation X, Generation Y, second careers

Much attention has been given to Generations X and Y, the current teen and young adult population ranging in ages from 13 to 43, who entered the world with substantially different wants, needs, values, and interests than their Baby Boomer and older predecessors.

But what generation will come next, and how are they likely to be different?

A number of different traits have been ascribed to Generation Z, currently ages 12 and younger. As the Zs approach teen status, we will begin hearing more about them.

But we can begin to draw conclusions about this generation based on what's happening in society -- as well as the most popular toys that arrive each holiday season.

First, society.

Generation Z has grown up in a world with widespread equality of the sexes at work and at home, and where single-parent or same-sex parent families are commonplace, as are two-income families.

Members of Generation Z are already very active consumers, with a high degree of influence over their parents' purchasing decisions. From Baby Gap to salons for kids, to Dora the Explorer canned corn and Disney themed SpaghettiOs to Chuck E. Cheese - Generation Z has been marketed to and raised with a prominant purchasing position from the time they were infants.

While Baby Boomers are being accused of being overly nurturing and attached helicopter parents to their Generation Y children, Generation X is being accused of parenting from a place of guilt and fear.

As children, Xers observed skyrocketing divorce rates among their parents and an influx of women entering the workforce. As a result, they were the first generation of latchkey children -- evidently an characteristic we don't want to define us or our children.

Many Xer moms checked out of their careers to raise their children themselves, partaking in organized playdates, early childhood education classes, and enrolling their children in organized sports and activities at a very young age.

Xers are very active in their children's lives and very protective of their children, with some going so far as to not allow their children to play outside.

By the same token, Xers have befriended their children, allowing them to stay up late, sass their parents, and giving them certain indulgences -- like pop, manicures, having their own televisions, DVDs, and computers and iPods, and going to the movies and nice restaurants -- which were once opportunities reserved for older children and adults.

You only have to watch a single episode of Nanny 911 to realize that Xers are struggling with the parenting role and detest the idea of being disciplinarians. Perhaps we didn't have enough parent involvement as latchkey children or we felt our parents didn't do enough for us.

In any case, whether we realize it or not, today's parents are trying desperately to skip the inconveniences of childhood and raise little adults who are well-educated, well-rounded, talented, and mature for their age. (I know, because I'm an Xer parent myself.)

Yet, when we were children, we could leave the house after breakfast and come home at dinner, and we could play outside and actually get dirty -- two concepts that are inconcievable for our own children.

And let's not forget the influence of technology on the next generation. Zs are already highly connected, having had lifelong use of communications and media technologies such as DVDs, iPods, cell phones, and social networking and gaming sites like Club Penguin, Build-A-Bearville, and Webkinz.

Which leads me to the toy list. Undoubtedly, Generation Z will be the most tech-savvy and virtually-minded generation in history, considering that nearly every toy out there has a virtual component to it.

It used to be that stuffed animals, dolls, games, scooters and bikes topped children's wish list. Today's children wish mostly for technology. Just take a look at a few of the top toys for 2008:

• Tickle Me Elmo Live does a lot more than its predecessor to provide your child with continuous hours of entertainment with its life-life advanced technology and interactive abilities.
  
• Playskool Dance Cam - This kid-friendly camera console plus into your TV and the camera projects your little one onto your TV screen so they can dance along to kid-friendly tunes and adorable preschool characters.
  
• LEGO Mindstorms NXT -- This robotic intelligence toy with built-in sensors will react to commands given. It comes with a quick-start guide, building instructions and tips and tricks to help you build a robot ready-for-action within 30 minutes.
  
• Bakugan Battle Brawlers - Voted the hottest new toy by Time magazine and Newsday, the plastic balls (the Bakugan Battle Brawlers) are rolled across game cards and open to reveal monsters ready to take one another on when two players land on the same card. Trading cards that help trigger the magnetic latches that open the spheres also help determine the strength and strategy of the brawlers.
  
• Webkinz - The stuffed animal that comes alive online in Webkinz World and its backpacks, purses, and accessories are expected to sell out this season.
  
• Nintendo Wii - The family-friendly social gaming system sold out last year. Sales of the Nintendo Wii Fit, featuring more than 40 activities and exercises, is expected to top 3 million this year.
  
• Nintendo DS Lite -- The handheld gaming system revolutionized handheld gaming in 2007 and remains in high demand. Its two ultra-bright screens feature 3D graphics and wireless communication, so you can challenge your friends anywhere, anytime.

Stay tuned for more information about Generation Z, the oldest of whom will hit teen status in 2009. Something tells me those assertive, tech-driven Ys will pale in comparison to the wired, smart, and sassy consumers of the future.

Labels: Generation X parents, Generation Y, Generation Z, top toys of 2008, young consumers consumers of the future

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I spoke at an event last week when the topic of the presidential elecion came up. A Baby Boomer in the audience commented on Barack Obama's campaign to reach younger voters. He went on to say that as impressive as his campaign efforts have been, he didn't think young people would actually get out and vote.

I told him it was comments like that that really offends young people. And it simply isn't true, either.

Four years ago, in the last national election, we witnessed the largest youth voter turnout in American history. And - like him or hate him - you can't ignore the fact that Barack Obama's decision to target younger voters is unprecedented and making a difference.

We are already witnessing now in 2008 how young voters are building and expanding on the foundation laid four years ago with Generation Obama (GO), a locally-based but nationally coordinated grassroots movement led by young activists with a simple goal: electing Barack Obama the next President through field work, political organizing and fundraising.

Civic engagement is a part of what it means to be a responsible citizen, and that value certainly isn't lost on younger generations.

Take for instance the Hip-Hop Summit Action Network (HSAN) which launched the "National Hip-Hop Team Vote 2008 Campaign" to get the hip-hop generation to register to vote. It is estimated that the 18- to 29-year-old segment of that generation will reach 50 million this year, representing one-third of the electorate.

Many political experts would argue the youth of today are not only rising to the occasion of responsibility, they are taking charge and will make the biggest difference in the outcome of the 2008 presidential election.

Of course, it didn't hurt Obama's campaign when Jay-Z, a seven-time Grammy Award winner, hosted free concerts to promote voter registration and while encouraging young people to get involved with the Obama campaign.

As a hip-hop artist Jay-Z has the ability to reach not just African Americans, but young people across the country who appreciate not only his talent as an artist but his entrepreneurial spirit as well. When it comes to motivating young people to vote, he's been referred to as 'one of the best in the business.'

This latest unveiling of star power by the Obama camp, dubbed "Operation Registration" underscores the nexus between hip-hop and politics. Over the years, hip-hop has evolved not only as a musical genre but a political voice for young people who feel disenfranchised by the political system.

Check out this music video for the Obama campaign:




In the meantime, John McCain is clearly going after the veteran vote. In every speech he gives, he refers to veterans and how he will take care of them. He also refers to historic events. There isn't anything wrong with his tactics, but his approach is drastically different from Obama's and in the process he seems to be struggling to relate to younger generations.





Hip hop vs. history: Both of these marketing campaigns have been fascinating to watch. I'm not sure who will win out in November, but I am certain that Obama's campaign will go down in history as the first to target younger voters and to recognize that younger generations can influence - and do care about - the future of this country.

Labels: 2008 Presidential election, Barack Obama, Generation Obama, Hip-Hop Summit Action Network, Jay-Z, John McCain, young voters

In the 1960s, students marched for civil rights. In the '70s, they protested Vietnam. In the '80s, they built shanties to fight investments in companies that operated South Africa. More recently, they've debated alcohol use and risky sexual behavior.

And now? They're all about being green, focused on saving energy, serving organic and local food, and reducing carbon emissions.

There is no green book of eco-friendly schools, but sustainability is already a campus buzzword and rapidly making it's way from trendy to top priority.

At the University of Oregon, students pushed the school to add a minor in environmental studies. At George Washington University, many students pinned green ribbons on their graduation robes or their recycled-cotton caps and signed pledges to take their commitment to environmentalism into their jobs.

Students at Williams College gathered more than 1,000 signatures last year from the 2,000-student campus to urge the administration to reduce greenhouse gas emissions like carbon dioxide, methane and nitrous oxide. The result is the Climate Action Committee, which inventories emissions and sets efficiency goals for the campus to meet.

Across the academic spectrum, Generation Y is rallying for increased environmental awareness.

The Princeton Review, which started rating colleges' sustainability this year, did a survey asking prospective students what they want from their school. Two-thirds said they would value a commitment to the environment, and nearly a quarter said it would strongly influence their choice.

What was once a fringe interest, perhaps seemingly a fad, has become fully entrenched in academic life, affecting not just how students live but what they learn and, as graduates, how they will change workplaces and neighborhoods.

In response to student demand, at least 110 colleges have either built or are building environmentally friendly and energy-efficient buildings, and more than 550 US schools have signed the American College & University Presidents Climate Commitment, requiring them to calculate their greenhouse-gas emissions, intergrate sustainability in their curriculum, and draft plans for going carbon-neutral.

Here's a sampling of green initiatives growing at colleges and universities nationwide:

• The University of Maryland at Baltimore's environmental nursing program has included a push to remove mercury thermometers from hospitals. The University also teaches "green" real estate strategies for landscape architects.

• MIT is cutting energy use and has adopted green design requirements for all of its new campus buildings. The school is also making it a mission to develop clean and affordable new energy sources.

• Brandeis University just announced a new Green MBA for socially responsible business.

• At the University of New Hampshire, "energy captains" teach their classmates ways to conserve energy and water.

• Harvard University launched the Harvard Green Campus Initiative (HGCI) to establish a living laboratory and learning organization for the pursuit of campus sustainability. HGCI continuously develops and sells new services to schools and departments that want to both save money and reduce their environmental impacts.

• Led by its Global Institute of Sustainability, Arizona State University is a national leader in solar energy research development with six major grants from the U.S. Department of Energy. ASU is practicing what it researches with planned, campus-wide, solar installation that will make it one of the largest commitments to solar energy by a university in the United States.

• Applications are up at the College of the Atlantic in Maine, which is already carbon-neutral.

• At Berea College in Berea, Ky., the need for more housing for nontraditional students, coupled with the desire to create an environmentally sustainable campus, led to the creation of an Ecovillage. The 50 apartments, commons area, child-care center and other areas use 75 percent less energy and water than conventional buildings. In addition, at least half of the materials that would otherwise go to landfills are recycled.

Few (if any) student movements have been internalized by schools this way, which is a great testimony to the environmental cause itself -- and to the dedication and ambition of Generation Y.

As environmental issues become more mainstream, students will demand more green credibility from colleges. In the meantime, more educators have discovered that going green can help their schools reduce waste, cuts costs, and attract the best candidates.

Perhaps it is easy being green after all.

Labels: American College and University Presidents Climate Commitment, eco-friendly schools, environmental studies, Generation Y, green colleges, Harvard, MIT, The Princeton Review

I presented at the American Bar Association Section of Litigation conference last week. The law field is one of those 'at risk' professions, as fewer young adults are pursuing law school today to become entrepreneurs or pursue careers in technology.

Many of America's businesses aren't taking the generation gap in the workforce very seriously, expecting that young adults will eventually come to grips with reality and settle into jobs at reputable companies that offer stability and great benefits packages.

The fact is, 465,000 new businesses are started in the U.S. every month - and the vast majority of those businesses are started by young professionals under the age of 40.

At the ABA conference, I received the same question that I get at every other conference when I speak: Are these business start-ups successful? Not every young entrepreneur can succeed -- there's certain to be a high number of failures, right?

In truth, I have yet to be able to find the number of failed start-ups, but evidence of successful start-ups is everywhere, indicating that today's entrepreneurs are more business savvy, more likely to take on risk, and more confident than prior generations.

In the past, going into business for yourself was considered risky, at best. In the past, stable careers at reputable companies were preferred.

But we are rapidly becoming a nation of entrepreneurs. Our success-driven society is now focused on the pursuit of happiness and values innovation, independence, and work-life balance. As a result, we’re seeing more entrepreneurs succeed and at a younger age.

BusinessWeek recently published its list of America’s Best Entrepreneurs 2008, an impressive list of moguls ages 25 and under. The current credit crunch and ailing economy hasn’t deterred these businesses – in fact, BusinessWeek received a record number of nominations this year.

The list includes:

• Daniel Negari, 22, who started Beverly Hills Mint, a high-end real estate finance business brokering commercial and residential loans worth $5 million or more. The company took in $650,000 in 2007.
  
  
• Johnny Earle, 26, who turned his skill creating iconic T-shirts into a rapidly expanding company, Johnny Cupcakes, with locations in Los Angeles and Boston and overseas distribution. Last year's sales hit $2.29 million, and Earle expects revenue to jump to $3.75 million this year.
  
  
• Jasmine Lawrence, 17, a high school senior who landed deals with Wal-Mart and Whole Foods to carry her line of natural cosmetics. Lawrence started Eden Body Works in to offer alternatives to chemical products after a bad experience with a hair relaxer.
  
  
• Richard Ludlow, 22, who started New York's Academic Earth, an online hub for videos of university lectures and other educational content which makes academic material widely available online so as to lower the cost of education around the world.

In many cases, today’s young entrepreneurs aren't starting a company right away—they're starting a Web site and seeing if it works. The Internet has become the great equalizer, and a tremendous tool for start-up businesses.

Television shows like The Donny Deutsch Show, The Apprentice, and Hell's Kitchen are focused on business success at a young age.

James Sun made it within one spot of winning Donald Trump's "The Apprentice," having been chosen from thousands of applicants nationwide to compete on the hit reality show. Sun was already a millionaire when he appeared on the show. He built a portfolio worth $2.3 million by the time he graduated from college.

Now 30 and living in Seattle, he is the founder and CEO of Zoodango.com, a Web 2.0 site that offers a social search engine to help people connect both online and offline.

This isn’t get an American phenomenon, either. The Austailian Business Review Weekly (BRW) publishes its Young Rich List featuring the 100 richest people under the age of 40. The minimum net wealth required for inclusion on the list is $20 million and its members must be 40 or under without having inherited money.

Editor John Stensholt expects many more Gen Ys (under-26) to join the list, thanks in part to their confidence in their own abilities. He refers to Y as “fearless young entrepreneurs" who are “very, very confident in their own abilities.”

The BRW list for 2008 included: Greg Coffey, 37, founder of anti-spyware software manufacturer PC Tools; and Nigel and Tania Austin, who started the retail chain Cotton On.

And if you want your children to start learning the lessons of running a business, check out the book, Young Bucks: How to Raise a Future Millionaire.

It seems the trend towards entrepreneurialism is here to stay.

Labels: America's Best Entrepreneurs, American Bar Association, business start-ups, BusinessWeek, Generation Y, Hell's Kitchen, The Apprentice, The Donny Deutsch Show, Young Bucks, Young Rich List