@corporategossippod — 9x breakout

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I am flabbergasted by these black fiday numbers

@corporategossippod

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Why it worked

The video likely resonated with viewers by highlighting a perceived disconnect between traditional financial values and the financial realities and behaviors of younger generations, tapping into a common point of discussion and concern.

Summary

The speaker discusses how younger generations, particularly Gen Z and Gen Alpha, have a different understanding of money due to their upbringing and education system. They highlight the prevalence of buy now, pay later services and student loan debt, contrasting it with the traditional understanding of budgeting and financial planning.

Structure

1Introduction to generational differences in understanding money
2Impact of buy now, pay later and student debt
3Comparison to traditional financial education
4Future implications of this mindset shift

Product placement

The video mentions 'buy now, pay later' services like Klarna, Affirm, and Afterpay as a significant market driver, implying these services are the subject of discussion.

On-screen text

I am flabbergasted by these black fiday numbers #corporategossip #klarna

Transcript

I don't think that we have fully grasped with the fact that Jenzie and Jen Alpha have a completely different understanding of money than anyone ever living on earth since money was ever invented. I was just watching CNBC and they say $12.5 million on Black Friday and sales. This is a new record. Despite the fact that we are very clearly in a recession. A lot of that of course is driven by the highest earners, but a lot of it is driven by buy now pay later. And the biggest market for those services, Clarina, firm, afterpay is should be spending no money this year. They cannot get jobs, they do not have assets. They are in a very financially precarious position right now, but that's not the case. If you're an old person like me, you're like, well, that seems irresponsible, but think about the way that they were raised. We completely abolished any home economics curriculum that they would have had that tells them how to budget, how to plan, and we replaced it with how to code, zero and ones. Then you go to college and right off the bat, $100,000 in debt, the minute you graduate. So, six months later you're paying $2,500 a month. And just as a mechanism of survival, you need to continue to live your life, which suddenly makes being in six figures of debt feel normal to you. And then they look at their peers. And the ones who have been really wealthy aren't the ones who got jobs. They're the ones who invested in a meme coin or a cryptocurrency that's just based on a hype and a wish. What does that do to your brain and how you understand money? This is like a psychological phenomenon that I don't even think we have words for it's like financial CTC. But in 20-30 years, these people are going to be policy makers. They're going to be CEOs. And how do you back into the idea of like what a budget is for a city or a business or even your home, when money is just number on screen, that has no implication in the real world. I don't know how you come back from that.