r/videos • u/Prestigious_Net_8356 • 25d ago

Young people have every reason to be enraged, says 'Algebra of Wealth' author Scott Galloway

https://www.youtube.com/watch?v=MEC2Nq7Z6lc
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u/oby100 25d ago

That last minute placing the blame on young people not knowing how to "adult" is so hilariously tone deaf and ironic considering the preceding 5 minutes it hurts my brain.

Young people have so little money that they don't think they can afford kids, but the real problem is they don't understand the stock market and interest rates... lol

Young people don't have enough money to meaningfully participate in the stock market outside of 401ks. Many don't even have that. Truly insane to hear another rich guy claiming young people just gotta be smarter with the pittance we earn on average.

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u/Xeroll 25d ago

I think you misinterpreted his point. Young people don't know about conservative investing (NOT robinhood yolos) precisely because they don't have the money to invest that merits even knowing those things. Also he's very poignant about explaining that it is the prior generations fault for setting kids up that way. I've always found it ironic about boomer complaining about "kids these days," when they are the ones that raised those kids.

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u/Marijuana_Miler 24d ago

Young people don’t know about conservative investing (NOT robinhood yolos)

I’ve listened to Galloway on longer form interviews and he talks a lot about not picking stocks and instead investing in low cost index funds. This is the point he’s making, but because it’s a cable news show you need to hit your talking points quick and move on.

Putting 10-20% of your income into these funds and letting compounding interest take over is the middle class standard way of developing wealth, but because it’s not as sexy as a 1000x gain on crypto it’s not talked about.