How the US Is Destroying Young People’s Future | Scott Galloway | TED
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- čas přidán 20. 05. 2024
- In a scorching talk, marketing professor and podcaster Scott Galloway dissects the data showing that, by many measures, young people in the US are worse off financially than ever before. He unpacks the root causes and effects of this "great intergenerational theft," asking why we let it continue and showing how we could make it end. (Note: This talk contains mature language.)
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I always challenge older people when they say "people don't want to work anymore." People dont want to waste their life working if they still can't even pay their bills.
Jesus that's very true
Challenge Accepted.
So, doing Nothing Is Answer ?
I'm retired. But get a dozen job offers A Week. And I imagine it's because of the skills I acquired by actually working. Experience is extremely attractive in getting a decent job.
And without that experience. Well. I'll be getting more emails next week, for jobs SOMEBODY Will Get
Ya gotta start somewhere.
That's why even Grandma is working a drive thru in your neighborhood. When someone younger, could be building some experience.
... your turn
@@My-Pal-Halthey to dum
People don't want to waste their time is right. I just had to write a 'BioSketch', on top of already having had multiple interviews, handed in a portfolio, a resume, a cover letter. In the end its the Pavlovian hoop jumping that's offensive, I'm a human being looking to keep shelter over their head and food on the table, not a dog. It's absolutely clear to me, that this whole process is more about jungle politics deeply rooted in our biology than about any actual professionalism.
@@My-Pal-Hal
Impossible with COL now. How is this so hard to understand?
We are entering into a feudal system at this point.
When I was 21 I had a deadend job, high school drop out, but I worked 8 hours a day 5 days a week. My refrigerator was full, I had a 1 bedroom apartment in Seattle/First Hill for $500 a month, and all my bills were paid. This was 1998.
The fact that a kid now days can graduate college, get a decent job, work 12 hours a day...and not be able to afford basic needs....disgusting.
21 here, making 8k above the typical wages for my area. I've been eating for around $15 a week for months consisting of Bananas, Lunch Meat/Spam, Bread and water (all of this bought at Walmart, which goes bad quickly), and I go out 2 nights a month to stay sane (spending no more than $40 a month on this). I just spent my entire paycheck on my car payment and an oil change (which I do myself). Next week it's credit cards and car insurance. The next 2 weeks it's rent and what's left over goes to gas and food for the next month.
My rent is less than half the rent for almost anywhere else in the county, including the most dangerous areas, but I have no A/C, no insulation, and it's Florida. Also the tap water tastes weird. My car's check engine light keeps coming on and I can't afford to get whatever the problem is fixed. I don't have health insurance, can't afford it, don't qualify for Medicare/Medicaid, pay out the a** in federal income taxes (25% of my paycheck), self treat any medical issues (I have life long medical issues on top of a weak immune system). And the sad thing is of the people I know I am about mid range. Several people I know have it worse than me, some are 1 working hour away from being homeless and bankrupt.
@@Bryce_Fl Holy crap, I didn't even know it was legal to have a building without AC in Florida. Like, I'm pretty sure there's state-wide building codes prohibiting it. This lifestyle should not be a reality for anyone, let alone someone living in the richest country on earth
100%
You should be able to afford your own 1 bedroom if you work 40 hours per week. This is a pipe dream nowadays.
Crazy because I dropped out halfway through my freshmen year of high school. Yet I make more than most college graduates. Have next to no debt. Drive a brand new car. Have a high credit score.
It's almost as if those college grads get degrees that don't pay and don't do any research into the field before going to school for it. Want more money? Develop better skills 😒
I'm just tired of working SO HARD and getting nowhere. I'm moving backwards at this point. It's just so damn hard
We became home owners at 16 and 18 years old. We have worked ourselves to the bone for the last 10 years and we have almost nothing to show for it. We are almost at the same place we were 10 years ago dispite making more money and having some assets paid off. We just CANT get ahead even in the best of circumstances.
@@SarahMc585 if you have paid off some assets, that is progress, isn’t it?
"Higher Ed is about taking unremarkable kids and giving them a shot at being remarkable."
This literally made me cry. This is how it should be. Thank you for such a beautiful, succient talk about this subject of inequality.
That's the line that struck me most, too. How can we be the land of opportunity when so much of higher ed is built on denying it to as many kids as possible?
He's full of crap, watch how he talks about programs for girls, but know boys. He scolds bigges like Musk, Zuck and Bezos, because they don't buy into his DEI programs. He's also pro-censorship and pro-Federal reserve, he is a burning limousine-liberal.
Same.
Then making the workers pay their loans for useless degrees...
Higher education is crushing young minds with Marxist garbage.
Don't think I've ever heard a TED crowd more uncomfortable, the clapping is skim and you can almost feel the tension. The absolute balls on this man to create a presentation like this and then give it to the very counterparty causing all the issues within it, truly incredible lmfao.
Well he presented in Canada, I can't imagine how awkward this would be if it were done in the US.
Especially when he exposed the hard truth of the unhealthy and obese America, a lot of low claps and silence on that one.
Perhaps there was tension. But there was also an entire crowd standing ovation at the end.
It's always uncomfortable when you're giving a presentation about why the audience is benefitting at the sake of their children. Look at all the gray hair in that crowd.
I think we are all just assuming things here. Also how are THEY CAUSING THE ISSUE?? did you not watch the video? Are senators sitting in this presentation?
This is a Ted talk, not a hearing at the capitol.
“A society grows great when old men plant trees in whose shade they shall never sit.” - Greek Proverb
"We must believe like the seed that change is possible.
The seed never sees the flower."
Shane Koyczan
@@MrZoomahforget the seed they are trying to take the soil and make it unplantable
Even Plato recognized inequality was a threat to democracy. He correctly noted that, if you let everyone vote, the 95-98% of people who didn't own land would vote to redistribute the land owned by the 2-5% of aristocrats who did own land. Plato's solution was to reduce inequality, that the leaders of any democratic society should be mindful of inequality.
Amazingly, the US solution to inequality today is to make it so extreme, and stick so firmly to the course, that the bottom 95% are too beaten down and disempowered to even bother to participate.
Then, use influence campaigns to convince them, the problem isn't that the government is transferring your wealth to the top 1%, who proceed to squander it or lock it up....convi me them that he problem is dangerous immigrants leeching public resources, the problem is black culture glorifying crime, the problem is the gay agenda, the problem is universities are too woke, the problem is "greed", the problems is that families aren't raising their kids right, etc.
I've been around long enough to see the carousel of districtactions and excuses make a full rotation. These are all just excuses the powerful use to scapegoat the fact that their economic interventions (particularly lowering taxes on the rich and paying for it with defecit spending, and rolling back common sense regulations on the financial sector).... these things have _never_ once worked to increase the middle class and middle class wealth. The moment the US economy started doing this stuff, that the is the moment the middle class began to contract. Sure, it grew the economy, but only for the top 10%.
I write software, my wife is an engineer, and we inherited a lot of assets from my biomer parents. We are doing great,, financially. It is absurd to give us a tax break like the 2017 code, and pay for it with two trillion in debt. We don't need a handout from taxpayers. And yet, we have a government that insists on coddling the rich....
Contraindication: If your grandchildren don't value trees because you spent too much time planting and not enough time teaching them why it was important, all your efforts won't be able to bear their fruits. 😂
And collapses when it repeatedly cuts down those trees in the process of expanding oligarchic wealth amassing infrastructures. We'll find out, soon enough, which one are we.
The eldest members of my family will say things like “grab your bootstraps” or “the struggle builds character” while remaining in control of millions. Meanwhile, I have spent the last 2 months frantically searching for *any* kind of affordable housing in my city before I’m kicked out of my educational institution’s housing next week after graduating. When I say I felt like I never got a chance, this is why. Absolutely wild.
I usually have debates with people who have their inherited house. Like bro, you started with 1 million dollars worth of help, we are not even close to be the same.
And they bailed themselves out of their own lousy investment decisions via the government in 2008. When asset prices go up, they advocate for capitalism and bootstraps; when shxx hits the fan they embrace socialism. Classic "heads I win tails you lose" mentality. A disgusting generation.
I’m a 50 year old Mom and I totally get what you’re saying. I see my youngest daughter work all the time yet she could never afford to live on her own. It’s so sad that the younger generation has had so much of their chances taken from them from greedy politicians. It really pisses me off. Every young person who is working their butt off should be able to own something. So I might be older but I certainly don’t feel like you have a good environment to pull up your boot straps and that is the fault of my generation voting for the idiots. I don’t look at any issues anymore other then who can fix the real peoples economy gas groceries housing interest rates etc. the rest of it will not steal my vote not climate change abortion, healthcare. I am truly thinking of my daughter and you young people when I vote you don’t have anywhere near a fair playing field that I had at your age.
I was a hungry child in the u.s. and now I’m an occasionally hungry adult with three jobs. This life makes me not want to have children; for my own sake and theirs
I've got four kids but only one of them chose to be a parent. They are all worried about keeping a roof over their heads, and the notion they can ever afford a house has become impossible. They are worried about being able to afford apartments. Canada is in a very similar state as America, because its leadership has been tainted by the same corporate greed.
Hang in there! You’re not alone girl 🙏
BOOOOOOOOOM!!!!! Well said.
Very mature and ethical of you to consider the quality of life of your potential children. Most do not consider reproduction in such terms, and will thoughtlessly sentence their children to a life of what is tantamount to slavery in a crumbling civilization in dying biosphere.
You will regret not having children.
The irony is that every rich person in this audience will laugh and clap, then go home and make sure the status quo continues
"That was a fun show!"
Yes! They are laughing in the crowd, not when he says something funny, but when he is serious. That tells you all you need to know.
The opposing view is that you sound like someone who makes excuses. “Rich people”.
Go do work that puts you in the prime role vs. a sheep
That remind me Yuri Bezmenov predictions.
Probably because they know that they've set up their kids, the rest of the population doesn't matter
I don't think people realize how bad this will get. Young people have nothing to live for and young men with nothing to live for are dangerous. Resolving these economic issues is a matter of national security.
I agree, kids need to stop complaining and gain skills that make them money.
@@fatmonkey4716 ok
Thats not the point. Things will burn because society failed. @fatmonkey4716
@@fatmonkey4716dude I know plenty of people with resumes full of skills, but companies and businesses are not hiring!! They have no money and resources to take on new employees. Stop blaming the victims
From a national security perspective, you are right. Economic vulnerability is the #1 driving factor that causes people to turn on their country. Full stop.
I work in internet repair and deal with the elderly on a daily basis. They call young people entitled, but I've never met a more entitled person than an elderly person whose internet is out. They demand patience and special attention from the young, yet they do nothing but take from us and then tell us we need to work harder.
I remember talking to the president of USC (University of Southern California) at a high-ranking networking party in NYC. It was for EdTech start-ups. I didn't know who he was. He was sitting in corner, not caring about mingling with everyone else.
He told me his generation had a lot of opportunity and stole it from younger generations.
Then I found out who he was on Linkedin. It surprised me that top people thought.
The smart ones know how screwed up things are. They just don't say it publicly.
It sounds like he was sitting in the corner, not trying to build relationships with young entrepreneurs, and thus not giving the young people the opportunities.
@@niccolom all that edtech stuff will just be available to private and wealthy schools. Especially if they take any venture capital who only care about increasing valuations which means you better make money and not give free plans
@@MrTakin00 Not necessarily.
It really depends on the cost of creating and maintaining that specific piece of edtech.
You see, Walmart makes a lot of profits too, while selling things for cheaper than competitors.
Pricing is a strategy. Nobody said non-consumer technologies need to be super expensive.
@@niccolom He said the people in that party were a bunch of takers that would probably give us deals that would steal our start-up. Advised that we didn't get in with them.
I think he just knew that those people were sharks.
@@kevinhill1575 Saving this
Scott displayed more genuine patriotism in this video than any politician has in the last 30 years.
Pretty easy to do when the average immigrant is more patriotic than all US politicians put together. Republicans just want to win and are willing to support compromised and incompetent politicians to get more seats. Democrats also basically serve their donors and dont care about the average American.
In your mind and the phony comment ratings of CZcams. I think he’s a fake and is part of the problem. I’m over charlatans .
...and that's why I never have or will ever vote for any politician.
Besides Trump, of course, but he was quite refreshing!
Exactly, this is exactly what our politicians should be working on.
.
It seems very clear that the agenda is to help the one percent cheat their way into wealth one again and hoard the wealth for themselves and their children by suppressing and limiting the American people from gaining access to wealth and our resources-like education and job training.
.
A college education allows the 90 percent to gain access to wealth. instead of bailing the 1 percent-how about we invest those billions into small businesses, job training institutions, and also getting workers into the nursing,teaching,fields which our country desperately needs right now.
.
We definitely do not need social media for children under 16, these platforms have done more harm to our society and families than the drug pandemic.
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These platforms only care about gaining wealth and avoiding accountability.
.
More than ever i wish more Americans would get involved in performing their civic duties instead of wasting their time on social media .
Social media is what the rich are using to find ways to keep you distracted so they can keep you in poverty while they cheat their way into wealth and avoid accountability..
.
Seriously though ,we all need to wake up America!!
I love all the applause from people who will do nothing to fix things.
it's just an entertaining show, now change the channel marge /watch?v=yE6lW8TazZM
Neither will we.
But as long as more and more people are getting conscious and informed about this whole clusterfuck. More chances are to start questioning the government and not voting for the same system.
FACTS.
@@axelnovati Agree. Look to history for the answer. We don’t need to reinvent the economic wheel .. we just have to remember how it turned.
Made them feel good about themselves tho and that what really matters to them
I felt so unreasonably angry every time the audience laughed or clapped. Nothing in that speech made me smile or even consider celebrating. The older generations in power are so out of touch it feels like they’re mocking us.
>I feel unreasonably angry when the audience agrees with me
Good point. I agree and I am a 67 yr old woman.
I'm glad that you identified your anger at the audience's laughter and applause as unreasonable. Let me first say that you have the right to feel however you like, but I would like to point out a few things to you that I hope that you (and others who read this) might find useful.
Imagine that YOU are sitting in the audience in this video. Scott designed the video to have some humour in it, so the presenter HIMSELF intends for people to laugh; unsurprisingly, people laughed and applauded. Now imagine some person on the internet hears you laughing in the video and thinks that you are mocking her/him, but in fact, you intend no such disrespect. IN FACT, it's likely that if the two of you met that you would be on precisely the same side on these issues. Further imagine that you are a wealthy and powerful member of this audience who really enjoyed Scott's TED talk and wanted to watch it again on CZcams because you enjoyed it so much. After watching the video, you go into the comments in the hope of finding enthusiasm and suggestions on how to implement Scott's prescriptions. Instead, what you find is people lambasting YOU, a member of the audience who supported Scott's message. How likely, then, are you, as someone who is potentially both able AND willing to move the needle on this issue, to follow through on helping? Instead of, say, pushing local politicians to implement Scott's suggestions, you might say, "You know what? The system works fine for me and it seems like people out there hate me anyway; why should I go through the trouble of changing a system that benefits me for a bunch of ungrateful fucks?"
Look, I'm not saying beg, grovel, and bow down to the wealthy and powerful and pray for their benevolence. What I am saying is to not be so quick to identify potential allies as certain enemies. You're not going to change a powerful person's mind by chastising him/her. By all means, thoroughly research and then fervently assert your position, but demonizing others does nothing but make them defensive and disagreeable.
I hope that this helps.
Get help
@@AC-hj9tv Roger that AC-hj9tv! I’ll make sure to do that on your recommendation! Thank you so much for your input!
“We will go down in history as the first society that wouldn’t save itself because it wasn’t cost effective.” -Kurt Vonnegut
“When did we decide, that the money that capital earns is more noble than the money that sweat earns ??” That’s huge!
Milton Friedman taught generations of economists that employees were liabilities and shareholders were assets. Voila.
The rich stay rich
Is pretty stupid - but to each his own.
@@botamaster1236 Why is it pretty stupid?
The rich sold the "american dream" very well. So the people itself had let them put a ball and a chain. Period.
He forgot the most important policy change: campaign finance reform. Nothing will change as long as our lawmakers can be legally bribed.
Not to mention lobbying, which is outlawed in the rest of the Western world. For 200 years, being a "politician" was just a side job for most. They actually had a primary job as a doctor, lawyer, account, etc. and only went to Washington D.C. twice a year for votes.
Campaign finance reform + voting reform (e.g. ranked choice). That's the one two punch we need.
@@GengoSenmonwait. Lobbying is legal in the US?
They'll just switch to illegal bribing.
@@ora2j251 very much so - it's become basically the foundation of our current political system honestly
This like the first not fake TED talk in like at least 10 yrs
Yeah, TED has gone massively downhill lately. Like everything else that goes woke and political, it turns to garbage. I used to have the utmost respect for it and now it's rare that I see a gem worth actually watching on it.
That’s why he facetiously said to the audience, “this will be the last Ted talk”. 😅
The only thing I wish this presenter talked about was the built environment. Everything in our society is built around mobility using a machine that is inaccessible to children until their late teenage years. Meaning that for large swaths of their development, children are either stuck at home or being chaperoned by an adult. It's unconscionable.
Very good point. And when you get old or injured, handicapped, you are in the same predicament. Even crossing the street is almost impossible.
Trains? Public transport? You sound entitled
@@gezza18public transport SUCKS in America. I know bigger cities like nyc have figured it out but smaller towns don’t at all.
I rode my bike everywhere as a kid. Built character.
@@pibblesnbits Yes, this is the solution for kids. Kids aren't stuck at home, they are just used to being driven around by their chauffeur parents.
This validates every conversation i've had with older generations who bought a house for 50k and tell me " I just need to work harder" . Great Speaker.
The more you listen to Galloway, the more you will realize his advice to young people is , "Bury your head, and work harder..."
Yeah having a victim mentality ain't gonna git you no whare bro
Hopefully, you listened to the whole speech and not just focused on your personal points.
@@76ersALLDAYHaving the goal post moved every time you try to get ahead is also never gonna get you anywhere. So your point?
@@76ersALLDAY You can still work hard with a victim mentality, but it's no guarantee that you'll succeed.
If this doesn’t blow up,… I can’t believe someone’s finally compiled it in a concise presentation and actually SAID IT
His message has been applicable since 08 tbh. Things were never the same after the 08 financial crises.
It will. It’s a conversation that’s been danced around a lot for some reason.
Watch, it’ll get pulled within a week.
Yep, compiled it, the boomer question ‘Do they love their children?’…
I posted it to Facebook and I think it was shadow banned ... probably because he called out Mark
Unfortunately young people have known this for a while, older people haven’t been able to change much for us
This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family.
I agree with you and I believe that Professionals are currently dominating the market since they have access to both the necessary strategy for making money in this industry.
I invested 5k in Robin hood about a year ago and it steadily went down, now my portfolio is down to $800. I don't know what to do and i am in between jobs
@@face2lune Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.
I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch.
@@face2lune I get guidance from *Susan Tori Davis* Most likely, the internet should have her basic info..
It's sad, I'm 25 and my peers think they are just going through a "quarter life crisis " when in reality we are realizing that our futures feel so uncertain and there are limited social structures to support young adults holistic wellbeing.
Don't be fooled. That's what anticapitalist powers and anti Western powers want you to think. People like Putin or Xi are smiling and rejoicing when they see young Americans feel sad and angry about American system or Western system in general.
True, only reason I haven’t seriously pursued a career is because I’m like…wtf is the point? It’s all coming down anyways.
at this age, how am I supposed to mind my mental health if I have no idea where I’ll live in two months, if im gonna be dropped by my doctors just when I develop a new ailment, whether im going to even land a job in the field I spent thousands of dollars to study, and then also worrying about my depressed parents who can barely make it to work themselves? I no longer see a future for our generation, and im privileged
The race against the 🌞!!! It’s over!
So they are
I saw the writing on the wall at 19 and moved to Latin America. I'm a homeowner in my 30s and save 20% of my income. The US is completely stacked against youth and it's about time someone said it instead of blaming avocado toast.
Immigration and both genders working are huge competitive factors for driving down wages.
Nope not anywhere near the main problem. Rewatch the presentation and do more research
and Latin America is a more humane and civilized place, for the betterment of their people? tell us how.
@@somethinggood-sy1ed I watched it. His interpretation is based on what he wants to sell. It helps to reinforce your victims beliefs.
did you move to chile by chance. I have been eyeing a move there as well...I think you had the right idea
One of the best ted talks ive seen in a while. The sad part is, nothing will change and the people laughing know it. This country needs a real revolution.
Most professionally and objectively articulated TED talk of all time.
The chill from the crowd when he said "You're not finding your truth, you're finding diabetes." was intense. I don't know if he planned how poorly that one would go over, but it was pretty close to the climax for his string of accusations directed more and more toward the audience with each shot. This was actually one of the best TED talks I think I've seen.
It's all ties to the same delusion of "speaking your truth".
Yep it’s amazing when you’ve a captive audience and tell them things they maybe don’t want to hear.
How can the audience apply while facing their truth...
If you compare obesity and it's health effects, it's more similar to mid century smoking and its health effects. The main causes of obesity aren't personal failings, it's lobbying from the dairy, meat, and sugar industries. I'm 35 and I very well remember how "bread and grain" was the base of the food pyramid, that wasn't a mistake either. Just like how smoking was pushed as normal or even as *healthy* for decades before the "truth" came out. And now isolate people at home with the internet, shut down hangout spots, make it unobtainable to live outside a food desert for a massive chunk of people, and you get obesity.
The reason I think people are uncomfortable is that calling it out is kind of like calling out alcoholics. Like, we all know it's bad, but it's a disease at this point, with vested interests in maintaining it. If everyone could reasonably afford fresh food like we used to, if more people cooked at home instead of eating out, we'd be in a better place. But think of the millions/billions of dollars invested to make sure that doesn't happen. You can't get depressed self-harming eating-their-sadness people to just spontaneously take better care of themselves when they can't afford health care or veggies. They can't go to the gym because they have to sleep sometime between their three jobs, if they have kids its even harder. Gyms cost money, a home gym requires a stable home (and also money).
It's hard to clap at that because it sounds like he's directly blaming all fat people for being fat, as if it's 100% of their own doing, or that they "want to be" obese.
It always seems like older people like to pretend that people hated eating in the 60s or something insane like that. Just ask the questions of "what's different between countries like Sweden and the US in terms of food" and pursue those paths. Also all the people who got to grow up during the great depression got to raise their kids during WW2 rationing. My parents generation grew up in a very low-food environment and their bodies were changed for it. They worked hard to secure a future of plenty, where their kids would never have to go without meals or feel hunger pains.
These kids are getting obese now, as the American snack companies hoped for (or more accurately, didn't care about). I just wish people read a little more about public health sociology and statistics and lobbying history of various foods. Just recently I think Nestle or something like that was trying to legally restrict GLP1 drugs because it was cutting into their profits (because it was helping people eat less/healthy). Just like for-profit prisons obviously don't make sense as an industry, for-profit obesity factories cause harm for money, and they have a lot more power than individuals do.
And he was 100% correct about it. Problem is, 40% of Americans are obese and another third are overweight. The rest of the developed world is catching up too. Every single one of them who is this way of their own apathy is repugnant and a veritable guaranteed future drain on public resources.
Unfortunately, things will be almost impossible to change because the people in charge of fixing the system are the same ones that benefit from it being broken.
Best comment
Lame, things don’t change because people have just enough and are unmotivated and unwilling to push for change.
Thats just it. The system is working exactly as intended...for the people who made it this way.
We are at a point where its no longer about fixing the system, its about replacing it with a whole new one....though maybe flushing out all of congress and holding nationwide reelections across the board and restrict any previous politicians from running might do something...need to get large donations out of politics first though.
Of course "the people in charge" won't fix anything. YOU NEED TO GET IN CHARGE. Get involved in government.
Spot on!!!
"do we love our children?"
the answer is clearly no.
the amount of friends ive met online that have abusive parents is actually insane lmao
Finally an older person who doesn't blame all of young people's problems on avocado toast and Starbucks coffee.
My parents bought their first house on taco bell wages in their early 20's, and now my wife and I in our early 30's with degrees/specialized trade training and won't be able to buy a modest home until our 40's. This man speaketh the truth. I feel like I'm screwed, but today's kids are gonna get it even worse.
I’m in my very early 20s and planning to be a doctor but honestly? I want out of this country. Once I have enough saved, I’m leaving elsewhere where they actually care about their citizens. Language barriers aren’t an issue for me because I’m down to learn any language necessary. I’ve just had enough.
@@strawberrytiramisu I'm thinking the exact same thing. Even with the toxic work culture of Japan, at least when the citizens complain about something it actually gets addressed! Japan is no heaven and has a lot of its own problems but that's where I'm thinking about going. The problem is any western countries like Australia and the UK are just as bad if not worse than the US, so they're not viable alternatives. You have to make a big culture shift to escape this garbage.
@@JohnDoeWasntTakeni'm sorry to ruin your fun, but if you think Japan is a good place to work and build wealth, you should research other better countries for that, believe me.
@@strawberrytiramisu Bro I'm 16 and thinking the exact same thing.
I'm sorry, but no one could afford a house on a Taco Bell salary, even if two people are working there, back in the 80's and 90's. If both people worked in a factory or something, they could, but not in the food service industry. Not without help, anyway. Just generating the down payment would be practically impossible.
I’ve always been bewildered by the “Too big to fail” bailouts, because they’re never required to then break up into more manageable sized companies. If they’re too big to fail without threatening society, then they’re too big to exist.
Vote better, and as often as you can.
@@fatmonkey4716sorry bro i was 8 back then my b
The next time the "too big to fail" banks fail, they'll be too big to save.
Amen to that.
@@AmateurHourProdu Did I write it as a past action that you missed, or is it behavior that all citizens need to do as their duty to hold government accountable for their actions?
One of the best TED talks ever
The age of contemporary US politicians stands in stark contrast to the ages of the Founding Fathers, many of whom were in their early 20's to early 30's when the Declaration of Independence was signed.
my god you are right. I think so many people, myself included, forget about that fact because the only photos of them ever circulated are from them being old with white hair and wigs.
The fact this video took 4 days to get 2.2 million views and the last videos on TED to break a million was 6 months ago on “how learning can be as addictive as social media” speaks to how important this topic of discussion is to people in this current time. WE NEED TO MAKE IT BETTER IF NOT FOR US SUFFERING NOW AT LEAST FOR OUR FUTURE GENERATIONS
CZcams algorithm loves this video for some reason.
Doom is popular, and the title/thumbnail sells it.
@@bradleywhais7779 Is it doom if it's the truth? The last ~40 years is the greatest transfer of wealth to the top 1% in American history, and it just keeps progressing. Productivity and profits have drastically raised and little 95% of that value is going to retirees. It's literally unsustainable if we want the next generation to live in an America with a middle class.
i am sure it's because the invention of CRISPR, or anything similar. those who are currently in power, hoard everything and create the system for it, because they think it's time for them to become immortal
@@bradleywhais7779 It sells truth that more an more people are waking up to and pissed off at. I wouldn't call that doom.
There is a mounting sense of anger in the younger generation, and we are all totally screwed when that anger peaks and breaks loose.
This is a cycle for most successful empires throughout history. The empire reaches an self-detrimental level of condescendence, the wealthy class (old people in this case) party like there's no such thing as death, and the ones who have nothing (young people in this case) end up in revolution. Vive la revolution!
It's Coming........ Soon
@@rokrangedit’s gonna be no country for old men
@@kellyriddle8789 oh yeah real soon
@@kellyriddle8789none of you have the balls
When i got my degree after 4 years of of college and going in the air force to pay for college, i learned fast that LIFE IS NOT FAIR.
Some generations make it more fair. Others are too weak to fix things.
You are right. You don't learn it in college 😂. You learn when you get into society 😢. (I learnt too late in my 30s)
Selfishness is killing our country's future.
Many great quotable moments in this video, but loved "They're a hedge fund that is offering classes." The fact that Harvard has more liquid cash as a nonprofit than well known businesses who are on the stock exchange says it all.
Agreed. That was very well said.
There are a lot of certified tax free and functionally tax free entities and organizations that need to start coughing up and contributing to the world rather than piling their comfy chairs higher and higher.
non-profit just means the profits are put into savings. That's all.
@@SkateSoup 💯Despicable how ‘separation of church and state’ is selectively applied by the religious right to erode woman’s rights and coddle mega-church empires.
There's another thing he didn't mention. A lot of universities are investing in things that are not related to teaching and research. College sport teams, stadiums, water parks, Ski resorts... These end up giving university a good income source. Basically Universities are turning into a sports club with a teaching side hustle.
This isn't isolated to America. I live in Iceland, and it's virtually impossible for young people to buy even the smallest apartment, and rent prices are so ridiculously high that being dirt poor is an inevitability. The director of the central bank just shrugs and tells people to "buy less stuff". I don't care how well we come out on those graphs, young people here are screwed too.
Buy less 'stuff' that keeps shops open and people employed so they become even more reliant on the government.
In France it's even worse. We stopped building houses, so every home in a city is owned by an old landlord or a foreign retirement fund.
But on top of this, when you work, 40 to 60% of what you makes go to social security. This social security system proposes no child care, it's mainly pensions for the retired. On average, a retiree earns more than a worker, and virtually none of the over 65 are under the poverty line. Yet, we give them a third of our wages. A retired teacher who don't work at all have a 3500 € pension while a new teacher, teaching kids for 30 h a week is paid 1800 €...
And in the private sector it is even worse. Some higher execs have a 10 000 € a month retirement. ALL of it is paid by social security, so taxes on wages only, not really on capital gains, and also by public debt. We now have a debt who reached 98% of our GDP. It is not used for infrastructure work or anything useful, but in order to pay the vacations of wealthy retirees
Yep. Europe is just lite version of this! I don’t see a chance for me to have as good life as my father.
@@jeanfonssedeporte3158 it's similar in NZ. We screwed our country over to save the old people during c*vid and in turn they who already own most of the wealth in the country got even wealthier.. their homes also doubled in value too. They suck so much money through the pension which isn't even means tested so if they are millionares or in a high paid job they still get it 🤯 they have high health care costs too and get first priority it the huge waiting lists so if you're younger with health problems well good luck buddy too bad. and they have the nerve in comments sections of various things trying to bring the issues of younger generations to bag on the younger generations, tell us how useless and lazy we are, get angry that children get free lunches at school, tell us just to work harder and just all around have no empathy or care for us while they keep sucking up all the wealth for their greedy selves. We need a viva la revolution!!!
Oh and their companies have record profits while over working their staff
Scott is not only extremely intelligent but very charismatic. My favorite ted talk in recent memory!
Thank you Scott for this inspirational talk. I am not American, I am from the UK, but this resonated with me because fundamentally we are facing a lot of the same issues. This talk needs to be heard about everywhere.
Yeah same story there buddy and the UK got even worse with dangerous immigrants.
It hit me hardest when he said we value the gains of capital over the gains of sweat. One is productive, the other is imaginary.
says the guy posting on his imaginary internet
@@SacredCASHcow "Capital" also includes factories, inventories, infrastructure, etc.
It turns out that the immense majority of global capital stock is indeed imaginary, and that is the portion which has increased the most for decades now.
@@SacredCASHcow The internet is digital, not imaginary. Behind most of the words in these comments are people, as flesh and blood as you or me.
@@Tomaz-Lanza yes and everything is imaginary if you want to use that line of "reasoning". your identify and your life its all just electrical impulses. Wow what an amazing realization!
@@SacredCASHcow Are you dense on purpose?
This man called out an entire generation and society, massive respect. Hopefully the awareness will bring actions.
Best comment.
It wont, the billionaires aint in the audience
@@Memorax As if punishing the billionaires would fix most of these issues, yeah right. Things have to change from deep within, especially the social media epidemic. Academia is a waste of time, all they produce are Marxists who hate their own country...no wonder the US is going down the drain. Both sides in politics will print money they don't have, pushing the debt onto future generations...it will never stop.
Alvin Bragg's case vs Trump just imploded, so will the CZcams censorship team by the end of the year.
It very much won't. Multiple people have given this exact same speech for decades at this point.
Tears. Yes!! As a teacher for 20 years, I completely agree for these steps moving forward. ❤😊🎉
finally some truthful conversation on TED!!!!
The best part about this is that he acknowledged that he has financially gained himself because of this transfer of wealth. I see many speakers on subjects like this but never actually admit that they have gained from the system as well. Coming to the table from an honest, self aware starting point is the first step to getting someone to listen to your point of view.
Being frugal and saving money is also a double-edged sword. If you've been saving for so long and are at xx age, at what point do you finally just say 'eff it' and drop your frugal life and enjoy the savings you've done for so many years? Would be pretty tough to do after saving for so long. Can't take money to the grave.
@@Krysdavar You can take it to the grave it's called generational wealth and many immigrant parents do just this - because they realize living a frugal life is fine if they have a beautiful family around them and are able to financially help take care of their kids.
It’s not just that he admitted that there was a transfer of wealth, but that it doesn’t even mean much.
What do they get? A nicer car? More trips to the same destination?
And he even goes further to show that they never even earned it to begin with. He points out his admittance into Berkeley, and shows how it wasn’t about him being hyper prepared and/or connected like then ultra rich.
He didn’t have a thousand hours added to his learning up to high school by his parents sending him to a private augmented learning program so he could have perfect SAT scores.
And then he points out the most obvious fact… what truly matters? The next generation.
So what’s going to happen? If things don’t get fixed, all we’re going to see is the creation of the most hated generation in all of human history. And all the evidence will get handed out by no one else other than their children.
They’re own children will despise them the most.
And that’s truly the point of this message. If it really is about the children, then what does having all of wealth just stacking up for you truly mean?
The rest of history will truly look at these people and despise them, because all they could do with this obscene wealth was just make more of it by making their children miserable.
@@Krysdavar Those who have it always want more, and those in power are inflating their progeny's inheritance into oblivion.
i don't hear a single person in this chat calling this man a boomer or insulting him at all. THAT alone speaks volumes to not only the state of the situation, but his character as well. because he is a boomer.
People claim the young only hate on boomers for age, but that is clearly not it as he is not getting any hate at all. from us.
It's remarkable hearing someone of his generation speak honestly about this
How could they not see government and big corporations cooperate against us for so long and accept it?
That’s Scott for you. He’s brutally honest in his analysis. He always admits the system is broken regardless of whether he’s benefiting or not. It comes from a place of confidence that he can make it work even if the system wasn’t broken.
@@na3rial does it come from confidence or from understanding and candour? The ppl doing this understand. It's WHY they do it. They just don't want anyone saying it, they want everyone saying it's the lazy new generation.
Except small and medium sized businesses would be DECIMATED if the minimum wage was $20 per hour (let alone $25)... Rural America covers larger portions of land and cannot operate under laws implemented by "big city" politics.
@na3rial……Yeah, confidence in knowing how to play the corrupt system, and confidence that he’ll get to continue the benefits while so many will live in poverty.
I don’t think Scott really cares if this broken system is ever fixed. Plus, he’s doing just fine in this corrupt, broken system.
I love how the crowd nervously laughed and clapped as if they were not exactly the type this talk was targeting.
They aren't. Very few if any of the people in that room are in or near the 1%. The 1% is talking 25% of the incone abd over half the wealth. Just 1%. THEY own the government. The 99% is virtually powerless against them.
Finally someone advocating for the youth! If we want to America to persevere we must take his call to action serious.
but then they exploit polute planet to death and circle repeat. cares for them so they can be arogant and not care foe theirs
5:45 “they are a Hedge Fund offering classes”..... thank you, YES!! I work at a financial institution and we have accounts of many university endowments. You simply CAN’T BELIEVE how much wealth some of these universities have. Yes, they should lose their tax status.
"How can I increase my compensation while reducing my accountability?" Such a profound statement. It's basically running on a hamster wheel expecting the same results with half the quality or reflection to even try making basic improvements.
That is the essence of "profit over people" and "me first", or otherwise known as entitlement.
That’s how everything is just like consumer goods half the product at a lower quality but costs twice as much
@@angelicfurry301 Exactly, where is the ethics in that? Its the survival of the fittest I guess.
this is how an individual organism behaves to maximize survival and gene transfer. In a society like ours, this kind of thinking is poisonous to every other connected entity. We aren't individuals carving out a niche on our own; we're part of a much greater whole, and every opportunity we have to improve ourselves arises from that whole.
I worked in higher ed and I know this to be true, not hyperbole.
There's a reason why the young generation is lashing out and they're 100% right. Nothing canges if nothing changes, it's time. 😮
Greatest TED Talk i've ever heard, hands down
Convincing the older generation of the points from the presentation is nearly impossible as they have zero incentive when their fundamental understanding of their existence is, “I got mine, so you can get yours too. Anything else is theft.” No amount of graphs, data points, facts about how times have changed will change this fundamental, emotionally anchored mindset. They don’t care about a future they can’t exploit.
Exactly. If things don't change it will fall to us to force the change by any means necessary.
Adapt. It's more competitive now. But younger generation has more resources to succeed (internet on the cell phone alone is way more than the older Gen could even imagine).
The best baby step we can take is getting more young people to voting polls. I know voting isn’t enough, but it’s a start. Vote for the youngest people on the ballot and get the fossils out. Being a politician shouldn’t be a career, it should be a short term duty to your constituents.
@@reelrocknrolla4251 did you even watch the video?
It's not "I got mine". It's "I earned mine".
I’m 23 years old, and I constantly have conversations with my peers about these issues and their solutions. That is to say, this ted talk wasn’t necessarily anything new to me because I live this reality. But I cannot begin to tell you how validating it feels to hear this summed up, and by someone from an older generation no less.
We are drowning. I’m drowning. My grandmother receives 2k in social security each month while she has 1.2 million sitting in the bank (we’re estranged unfortunately). I’m working three jobs and taking night classes at the community college to hopefully move my way up. I live with housemates to afford rent. I feel like a broken machine but I’m forced to keep moving anyway. 2k a month would probably change my life.
So would your solution be to end social security? Or perhaps only pay it to those who need it and put a wealth cap on who gets it. Oh my, that would require some kind of regulation. Yeah let's just make it a free-for-all
@@nnonotnow Yes! regulation, yep. you got it. Give the money to those who need it so they can flourish. This government/ economy has been stealing from working class, poor, and young people for 4 decades. Its time to pay it back.
@@nnonotnow You understand how your conclusion got away from you there, right?
@@nnonotnow Increase the cap so that it's fully funded.
Trying to ensure the rich don't get it might be more work than it's worth, but it's also an option.
@nnonotnow Well ignoring that wasn't at all what they said:
Actually society does in fact need to discuss a fundamental problem with social security. It is built upon two assumptions, that the labor pool will always drastically dwarf the number of retirees and that wages will always rise. Neither are true today. Social Security is literally bankrupt. Without fundamental reform, it will collapse long before today's youth ever begin to recieve benefits from it. I would not blame a young person for viewing the additional tax burden of social security as unjust.
The federal government being a financial nightmare is also unfair to our youth. No, the national debt cannot go up forever. Somebody has to pay for it, so our young people can quite reasonably expect a heavy tax burden throughout their lives, spent on servicing debt their ancestors accumulated, and for what!? I've already addressed social security, and similar problems abound for other entitlement programs which is the majority of the debt, and the next major sources are the 2008 and 2020 bailouts of the financial system, and financing for forever wars like Iraq and Afghanistan....
And we're telling people that were either kids or not even born yet when all these things happened that it's their bill to pay.
Our youth have a lot reason to be angry, and unfortunately the bitter reality of addressing these problems, and I say this as a socialist in favor of nationalized health care: the government very well may not be able to afford grandma's social security check and we've already mortgaged more than enough of our youngs future to try and pretend that we can. Don't blame the kids, blame the corrupt greedy society run by "adults".
Growing up, we were all sold a future that none of us would actually be allowed to have. We were told that we could be anything and have anything we ever wanted, and that the advancements in technology and resources available to us would make us the healthiest, happiest, and most prosperous generation in history. This is the result of all of that. In all the ways we were set up for success, we were set up for failure even more. He's right. There is no word that describes what's happened to us better than theft.
Over a decade ago when I was a young teenager and going through the worst period of my life with depression because of my parents, I found a reason to cling onto hope, that hope being that one day I'll get to have kids of my own and that I'll be able to give them all of the love and opportunities I never got to have. That hope is all I've been able to cling onto since, but now I'm faced with will I even be able to have children before I'm too old to properly play with them? Will I even be able to have them at all? If I did, would I even be able to provide for them what I said I wanted to?
I still have a few years before I even turn 30, despite that: I still live with my parents, I may as well have no money to my name because I'll never be able to afford a home despite what I save and try to invest, I'm not happy, I feel the loneliest I've ever been despite being more interconnected with people than ever before, the good moments are fewer and further between each other, and I'm arguably in a far worse position now than I was at my worst a decade ago. Despite all of that, I wouldn't say I'm depressed more than I am jaded, but I really struggle to find a reason to keep going anymore outside of not knowing if the alternative is better.
Who is "WE"? I never bought into this crap because I had common sense and I live in a free country so what's my excuse for never falling into this trap?
Wow. Incredible talk, a masterclass in public speaking with a gut punch message
The statistics that Scott shows is devastating to look at. I'm 23 years old and a few months ago I completely gave up on everything; Friends, family, hobbies, work, everything. One look at charts and second look at the people in your age group is enough to just completely give up. One of my old coworker's knew a 15 year old that took his own life and the first thing that came to my mind at the time was "I can't blame him". The hopelessness in my generation is heartbreaking, the only thing we can do is keep a positive attitude and keep pushing.
Life is all about mindset. Are you linking your value to your income and assets? You need reevaluate everything about what makes you you, and what makes you valuable. 23 is young man you can change your world.
Don’t give up buddy. There will be opportunities. For example, to avoid paying rent, my wife and I house-sitted for a few years and saved quite a bit of money.
Keep in mind, we’re living through an epic asset bubble. History suggests every bubble pops. When it does, there’ll be other opportunities
Don't kill yourself! Take a professional politician with you... In minecraft.
Yeah I feel you there. I'm 24 and I'm so deep in college loans it's insane. I literally starved myself through college because I couldn't afford food it was terrible. Still struggling with a molecular and biotech degree too lol. College is a scaaaaaaam.
RFK jr is the only politician talking about these problems. I am a white 59 year old male and I have had to deal with a tractor trailer load of BAD LUCK
I'm 38, I work full time as a network administrator, my pay isn't bad but I will never own a house nor have any kids. this presentation made me sad, but i thought it was very good
I'm genX , and I own a home now because I inherited the one I grew up in. Dad took very good care of it. Being an only child helps too
Same😢
People have kids with less money than you. Don’t give up!
I'm 2 years ahead of you. 🙃
I get it... I have a wife and kids that I wouldn't trade for the world, but the reality is that we are barely scraping by. As a single person I would be doing alright but with a family... well anyway. I understand why fewer people are choosing that life for themselves.
Without a doubt this is the best TED talk I’ve heard.
I like how he walks off and nods like 'Yeah, you go ahead and stand and clap you hypocrites."
I made my boss a powerpoint at my 90 day review to show how much I had already benefited the company. Hard numbers and measured progress. Then followed it up with a slide titled: "I can't afford to work here." showing a list of local 1star studio apartment rentals that I couldn't qualify for, even working 60 hours a week for them.
They gave me a raise, and I got my kid and I into a 400sqft studio with money for bus fare. But I keep thinking about how my salary's equivalent a generation ago could have gotten us at least a 2 bedroom apartment and a car, maybe even a house.
You're a hard worker. Got your kid into a better environment solely through you're hard work and dedication. Well done.
I have got to learn how to do this. Incredible story
Sounds like nyc
And people judge the homeless.
This country has been completely taken over by greed. You have to own your own business to get anywhere these days.
As a 20 year old full time college student, working 30hrs a week. I almost wanted to cry at this. Finally a person who actually understands!!!
Hey, 20 year old. I need to tell you something.
If you ever get overwhelmed and depressed or lost in life, just remember....... you are the one creating your life.
I know that there are different hurdles for each of us and that sometimes things can feel unfair.
We don't all start off with the same circumstances so it can feel like we get the short end of the stick.
There wasn't anything I really wanted to do and I didn't have internet to do research or to talk to others about what there was to do in the world.
Never give up. Never do drugs to handle your feelings or your suffering.
It's not the answer.
By the way, what do you want to do in this world?
How does coddling you like a baby help you? Your last easy day was yesterday. It's only going to get worse from here.
Imagine farmers stop working thinking the same thing we wont survive. The new generation needs some guidance and govt need to create an environment for them so they can challenge themselves and get into innovation.
If this doesnt happen AI will take over. I was thinking AI take over will take time. With youth not opting to work it will be easy path for AI.
@@rickybobby7276
Lies. I survived college and got a job at 23. College was much more exhausting, although working at an office is boring and soul sucking.
@@jeremysclosetman shutup 😂
Thank you so much Mr.Galloway. This is my all time favorite Ted talk.
Remember: nobody can change everything, but each of us can change something. Take this knowledge and do something with it. It's okay if it's small. It will still impact our world for good.
I have been saying this for years, and i am the same age as this guy. Thank goodness he is using his platform to speak this truth. I went to a public college in the 80s. My tuition was $1000/yr, which I paid for by working jobs that paid about $5/hr. 100 hrs could cover my tution. My kids went to public college a few years ago, that public option was about $9500/yr. At that time, my kids could earn about $10-12/hr, or about 860/hr to cover tuition. Fortunately, the public investment in me has provided a very lucrative career for me and I paid my kids tuition in full. Unfortunately, I have similar analogies for starter homes, rent, car prices. I cannot help my kids with all of it. It is only getting worse.
Yes!
Just tell the kids to leave. 50,000 moved to Russia. That is how bad it is in the US run by unelected elites.
That's part of the problem, though. Prices go up, people still find ways to pay them (parents, student debt, sale of assets, etc). It also opens up the gap wider between the rich and others, whose parents can't make those contributions or they have to saddle themselves with debt and hobble any future financial growth.
The right thing to do would be just not to pay for college and go into trade jobs, and tuition would come down, but people just worry about their individual situation and create systemic problems in the process
@@leok7193The people who control the prices, also control the pay, so this is the expected result. Noam Chomsky lays this out much more precisely
@@leok7193If that’s your argument, why aren’t other countries having similar problems? Perhaps it’s because their economies aren’t ruled by private equity and money for social services aren’t sent overseas.
Overwhelming data shows an overwhelming problem.
Thank you Scott.
Your kids leave college in 6 figures of debt to compete in the marketplace against kids like me who IMMIGRATE over the same age (21) with NO DEBT and the SAME DEGREE.
Don’t get me wrong I’m benefiting from it as an Aussie but would infuriate me as an American kid
Completely ignores the elephant in the room like all of these psuedointellectual discussions. It all boils down to overpopulation and immigration. Wages have been flat since the 1965 Immigration Act. Without it the population of the US would only be about 250 million today. We'd still have a strong middle class, and these problems either wouldn't exist or be easily remedied thanks to a better balance between labor supply and demand, and the absence of the domestic turbulence and political disunity that has been created by adding nearly 100 million additional unnecessary people that we don't have the resources for.
You can keep closing your ears and pretending that infinite population growth in a finite world is not the problem but I assure you that this will get far, far worse as the US population nearly doubles over the next 80 years. If we ever see a positive upward trend again it will be long after the system crumbles under its own weight and the ensuing massive population decline.
There's no "we" to the problems, it's those who control the levers of power that are responsible.
I quit high school, started my own auto repair shop at 25, a few months later I had 6 enployees.
Good - I believe in you - go for it!!
How did u get the $ to rent a auto shop?
This needs to be everywhere. Made me cry, this is exactly what’s happening. I’m so tired of my parents telling me I’m so much better off then they are and squandering it. I have a degree and can’t get a job that pays a living wage. Gave up and started applying for anything. My mom who loves to tell me how difficult it was when she came as an immigrant and how she had to work as a cleaning lady until she got her job at the hotel serving. To prove a point, I applied to be a cleaning lady and the lowest entry position at her hotel and was rejected for both. Beyond more qualified then she ever was. I can’t even meet the level of an immigrant that can’t speak English now.
What is your degree in?
You didn't have to mention your education credentials.
It’s because you have no skills. A degree does not = skills.
A lot of college degrees are worthless. Prof. Galloway had some scathing remarks on how the Education-Industrial Complex exploits naive kids, but he didn't really touch on this angle.
Degree in what?
A single man used to be able to provide for a household. Now it takes two people working to not be homeless. I live in seattle and the average cost to rent a full sized house is $3600/month
This is something that is so upsetting as someone who wishes to some day form a family. How is it possible that a single wage isn't enough to sustain a family? It's insane.
I don't think humans should keep replicating population can't keep expanding indefinitely
I lived in Seattle till 2017. At the time, I was making a reasonable salary in a decent job, but there literally were no houses in the city that I could afford. So I ended up in Tacoma. And the house I bought there appreciated to an insane value when it was time for me to move out of state in 2021. I'm keenly aware I got fortunate but I just can't fathom how people get by in Washington anymore.
Why would a single man, nay person, need to rent a full sized house?
@@jojojo724there is a limit, we haven't reached it yet. The point of this video is that wealth is being concentrated in the older generations, already wealthy, and corporations.
This made me emotional. Mid 30’s and I feel like I have no meaningful future unless I happen to get wildly lucky.
That means you have terrible habits vs productive ones. When you sit around all day watching social media, you waste your life away vs being a productive person. That is an easy fix! I bet you waste countless hours daily on doing nothing at all, just sitting around scrolling through Tik Tok or some other app. I bet I am right, because no one should be hurting while living in this country, people become victims of their own crappy habits and that is 100% the truth. Some of us created a life for ourselves because we knew we had the options.
This might be the greatest TED talk of all time.
I heard an lecture in the 1980's. I was born in 1950. The Economics Lecturer made One Big Point--My Daughters Generation (she was born in 1968) would be the LAST generation that could guarantee Their Children a better future than they had. He was right! I've watched it happen.
Thanks for the additional context. For those of us with young loved ones it is painful to see what has happened and that it could have been stopped
And what the lecturer said the reson for it was?
@@shaineyoung Very painful!!!😢
@@anita77771 keynesian boom-bust economics, due to governments skimming off the top of the economy until things go bad, and then taxing anything that moves to save their own political careers
@@jordancarlin9687 Also big corporations. Big corporations do own majority of the politicans. Two sides of the same coin.
We’re all a product of our society. I’m 61 and anytime I hear people complain about the younger generations, it ticks me off. If I was 21, I would be just like all the other 21 year olds. I know a lot of people my age that have never had a work ethic. They just inherited great economic times through no work of their own
Thank you for saying this. This point is too often ignored... people are people across generations, there are no "special" generations... just people.
Case in point - the "boomers" in my life are the most phone addicted, social media addicted people I know at this point. Yet at the same time they criticize the young people who are having to be so disciplined to succeed, all while surrounded by more distractions, garbage food, attention-robbing media, cheap thrills etc than any generation before. Nevermind all of the political, social noise. They are set up for failure, and that is what is happening.
🇺🇲⌚️
@@nriicv1572 I couldn’t agree more. I fear for my grandkids that are growing up in the world I helped create. I do have a lot of hope for the future though. There are a lot of hard working , smart people out there of all ages that are doing their best to ensure a safe viable future. I see the biggest threat as politicians who continually want to divide us with no positive outlook and their desire to hold power
I assume you mean if you were 21 today, not 40 years ago. If so, I would agree. Twenty-six years ago, when I was 21, I behaved similarly, but it was more a mental attitude than an outward expression. Youth were still encouraged to respect elders and have some semblance of Integrity. At least in public. The ones that really acted out in rebellion were fewer and farther between. It seems youth like my young self and my peers are the minority now. 40 years ago I'm sure this was even more the case.
It has absolutely nothing to do with work ethic. You’re an absolute sucker if you think hardwork is going to get you anything but more hardwork.
This is one of the better TED talks I've listened to in a while! Well done Scott Galloway!
As a 22 year old who just graduated from Purdue university and is currently looking for apartments in Indiana this hits hard. I have a great job I’m starting soon and I’m struggling to find a safe and clean place to live that also doesn’t require me to live paycheck to paycheck. It’s honestly insane but I’m doing my best. When do I get my American dream?
What is your definition of the American Dream because that phrase was made up by banks decades ago so they could entice people to take out loans. Banks convinced people that owning a home was the American Dream and people bought it when the entire thing was a marketing campaign to increase lending for banks. You fell for a campaign designed to keep you broke and you feel for it 100%. The American Dream is to live in a country that has freedoms in place to allow you to become whatever you want in life and you already have that. Your problem is income, no job will ever set you free so now its your job to learn how to make money while you are at your job so you can get ahead. Welcome to the real American Dream, its called "thinking for Yourself"...do this, and you'll be better off than 99% of the people in this country.
This is happening all across the western world, not just the US. This video needs to be shared until it has over a billion views so people will know the truth.
All across the world, not just western
Yes it is happening everywhere but in Europe and most places, it's not nearly happening as quickly as in the US.
Move to a non western country then.
If you dont know the truth you've been conned lmao how obvious
Anybody actually capable of comprehending the lies that have been told to them have already woken up to the truth. They just dont care enough to do anything about it.
This is the first time in my entire 25 years of life that I’ve heard someone truly breakdown the economy and the changes since the 80’s, and also introduced the concept of the top 10%… everyone always talks about the top 1%. The elite. Who even is the top 10%? Is it achievable? I don’t need to own the world, I just want to sustain my family 🤷♂️
me too man, 24 yo here making 67k w insurance and it feels like I'm still behind massively
The top 10% - 5% are still normal people barely out of the middle class
@@AmateurHourProdu Same. Yet the people in charge think a $3,000 a month mortgage is acceptable. WTF
@@xgunthercThen those same people advocate younger folks to go to college and get into more debt, to “afford” the mortgage.
Just working a regular job will get you nowhere. Let money work FOR you, not the other way around. Start investing early. No need to tag along the rat race just to keep up with your neighbour.
I’d love to see change for our sake and our future’s sake. Being 20 years old and still living with my parents this really hit me hard in a good way. I agree with this a lot and it’s terrible, I don’t want to have to work for the rest of my life so that huge corporations can make their extra trillion a year. As much as I’d love to see the change I feel like more people need to advocate for change and use their voices and until that happens I doubt that we’ll ever see a change. These huge corporations are paying politicians to get their way while we suffer because of it and it’s greedy asf. Let’s rise up and do something about this!
Thank you for coming to my Ted Talk Other Scott. 👏🏻👏🏻✌🏼
We need people like this as our politicians. Not rotten to the core apples.
I wonder why people like him don’t become politicians…
@Vareiance well when they do, the corrupt politicians do everything they can to destroy their careers.
@@VareianceBecause narcissists and sociopaths are drawn to positions of power. These types of people are incredibly traumatized and insecure to their core, so they seek power to make themselves feel worthy. The political system is the perfect place for narcissists. The problem is that these types of people lack empathy or a moral compass, so they're able to do destructive things that most people wouldn't. They will lie, cheat, manipulate, steal, and ruin the lives of anyone in their pursuit of power. Most normal people aren't drawn "power", we are instinctually a social and community-based species. Narcissists are more likely to chase power, whereas most people are just trying their best to live.
@@VareianceBecause that kind of integrity precludes you from holding office. Because you can't get people behind you to make the deals behind the doors. And passed the money under-the-table in order to win..
Bernie Sanders
This talk gave me so much hope. Today’s media feels so disconnected, the conversation rarely feels about what’s important anymore. I hope this talk continues this trend.
Sadly, it’s not an accident that the media (especially mainstream) is disconnected. They’re intentionally distracting us from the systems they benefit from, and continually create moral panics to get people to stand for ridiculous nonsense, instead of fighting for change
Media is paid to be disconnected.
"Conversations" and "awareness" - of stuff people are already aware of - is all that's being achieved. At legislative and policy level, zilch.
The talk may continue, but nothing will come of it. The old will always prey on the young. And, you will do it, too, if/when you reach 50.
They are also just straight up lied about a lot of stuff. It's crazy when you can see the truth but ignore it because the news told you something different. I can't understand why no one is angry that they have been lied to.
The best TED talk I have listened to in quite some time. Thank you Scott.
That was probably the best ted talk ive watched in a long time
I am a public service worker and was working on a beach house. Speaking to the owner, they bought it for $55k in 1984. Nowadays that same home is worth $1.2m on Zillow. I'm 27 living at home, and everything is hopeless, but if you give up, nothing happens. Even throughout my short adulthood, these ever expnading goal posts are completely discouraging.
Yes so those who can will move.
Jon Stewart on one of his recent episodes reminded us that the majority of American public service workers are like you, who are trying to make the system and the world livable, and genuinely a better place. However, the ones in power do not feel the same way. They might pose that they do, but they don't. Not unless you're Bernie Sanders.
55k was worth way more back then than in today's value. Also I remember in the late 80's summer day care we went to a youth museum and the van went through an older neighborhood (not quite mansions but big old Victorian type homes) the teachers (probably college age or a bit older) said they wouldn't want to live there. Now the old houses are fixed up and worth quite a bit more. So I'm wondering if that's what happened to the beach house.
I hope since your living at home your saving/investing most of your money (while helping your parents out). Buy a house/move out on your timeline *not* the Jones timeline.
@@aamirhus23 Anyone who works hard for their money I support, even public service workers. Problem is the services they provide come at the expense of every taxpayer. Yes, there's greed in this capitalist system, but the government driving up massive deficits at the expense of every taxpayer is not alleviating the burden. And John Stewart can't differentiate between market value and tax assessment value. You don't pay taxes based off the amount in the bank loan.
call yourself lucky to be a public service worker. for the same wage you would have to work a lot more in the private sector. I'm also a public service worker but I came from the private sector.
My grandma told me a story about how she moved to my hometown in the early 60’s with her now husband to get a job teaching at one of the highest paying school boards in the region. They were both teachers, and had college debt, and had planned to move to my hometown to pay off that debt by working… for *two years.* they never left, but it blew me away when she said that she was able to pay off her debt in just two years of working full time. Insane.
No but think about it, they didn’t pay for cable, internet cell phones, subscriptions. If they had septic and a well (no fees ). No fast food and Starbucks coffee as .25 or less. Cooked from scratch. Didn’t buy lots of shoes, clothes and purses. People were frugal back then
@@user-iw5ci1lc7h doesn't matter average teacher pay now is $20 an hour or lower, average for a teacher in 1980 was $8.50 an hour which in today's inflation is a good bit over $30 an hour for an elementary school teacher. Minimum wage in 1980 was $3.10 an hour ($11.16) now it's $7.25
@@user-iw5ci1lc7h Those are the talking points of think-tanks that have been disproved again and again. Sure there was no cable or internet fees but there were other expense like phone landlines, basic kitchenware was far more expensive, etc. People have always had baseline expenses that you cannot avoid no matter how frugal you are but it is undisputed that this generation has by far the largest slice of rent/home cost and other essential expenses than any generation of the last 60-80 years (as a % of median income).
No matter how people slice it this generation is getting screwed at all levels, irrespective of how much they work or save and it's only getting worse. This presentation needs to be shared everywhere.
@@holmbergaudio that’s not how school boards work bro
@@bryanribeyHow do they work?
I’m 30 and I wish I could opt out of SS taxes. I’ll never be able to use it. And I can get better returns on the market!
BEST, MOST APPROPRIATE AND MOST INSIGHTFUL TED TALK EVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I’m GenX, my Grandmother got a college degree in economics bought her family home for 50,000 (bank repo) lived in it for 50 years in California where she sold it for 700,000
You obviously have never heard of inflation. Based on those values it should have sold for $350 000 and would have the same value. The doubling on that to $700k is from land value increases - i.e. stolen from the younger generations.
That’s what’s really ridiculous about house that sold for $100,000 ten years ago is $200,000 today. Why? It’s been lived in that should reduce the value of the home unless money was reinvested to do updates on the house, and those updates should not equal the purchase of the house at $100,000 because the foundation is older and not going to last as long as a new house. Houses should depreciate in value just like a car. Once it’s used and has gain years of aging it should be less valuable.
It's also supply-demand, more people are looking, certainly area's are more desirable and people dying later so less houses become available. I wish my dad was still alive and I live in his house now... otherwise 1 more house needed on the market.
@@angelicfurry301 Outside of renovations, the home hasn’t become more valuable. The currency it’s priced in has become less valuable. Over the last 50 years, the dollar has lost over 80% of its value. This will continue until a total collapse occurs.
People forget the tax that relates to the initial purchase price.
I'm just turning 40. I have a great career, but I still can't afford a home. I feel this problem in my bones.
You should feel relieved not having a 30 year mortgage.
@@GameArmorGameplay Rent is not much cheaper.....
Home ownership probably isn't the best move bud.
But I do get what you're saying.
I'm 42 and 17 years ago when my son was born I immediately quit my position as Store Manager of Blockbuster $55,000 + a potential max bonus of $5,500.
It was a 1hr and 45min round-trip.
This is a big problem. The real estate market is out of control. I'm lucky I got in when the market was low, otherwise I'd be in the same boat. I could not afford my home if I were trying to buy now. Property taxes in my state are about to price me out of my home though - that's another problem.
I’m in the same boat and I make over 6 figures
This is one of the best TED talks I've seen in a while and I'm glad CZcams algorithm shown it to me...
“Connective tissue” built through national service is something that’s fascinated me for years. It’s definitely missing in our society now.
I think this is unironically the best Ted talk I've ever listened to. I literally graduated high school 5 years ago and I've watched mortgages more than double. "The whole point of higher education is to give the unremarkable a chance at being remarkable" I really needed that chance, but I couldn't go to college because I couldn't afford to go to any of the schools I got into, even with what scholarships they gave me.
Do you think this is the only time or people to have mortgages double? You not thinking there is a solution is why we make fun of you.
Uhhh this is the largest interest rate and housing value hike the country has ever seen combined hands down. The fact that you are unaware about the real state of things is scary.
@@Mr___f I am aware of the current state of things, just as I was in 2008, this too I will weather. But if your solution is to complain, I can see that it is not external factors that keep you poor. Go ahead, tell me your solutions that you alone can do to remedy your situation.
You don't need college. Gain knowledge and skills from the Internet. Many jobs don't need the degree, and they are paying good
@@fatmonkey4716 okay government bot
It doesn't trickle-down, it evaporates up.
Oh my god this ^
exactly. poor people need to spend their money to survive and rich people can invest it instead, because they have enough already, and get richer.
and if the taxes on investments are lower than those on wages, you can see where this leads...
Wow
This is moving
Or pools like a puddle n goes nowhere
this man needs to run for office. he has a higher calling than teaching.
If this doesn't fill you with a burning sense of rage, you're not ready for the next generation.
It doesn't give me any rage because today's youth have so many more options for income potential its sickening and they sit all day long scrolling through Tik Tok and CZcams shorts vs learning anything that will get them ahead. Don't blame the system, blame the people who can't get ahead of it by choice. Every generation has its share of economic issues, this generation happens to have the most ways to fix that and no one is talking about that at all. I feel sorry for no one, all this technology and people waste it watching stupid videos all day vs learning something that will increase their income.