Carol Massar (1:44)

Are people right about the criticism?

Stacy Vanek Smith (1:46)

But, but wait, wait. Okay. There's also strengths and they have a lot of strengths. So talk about those before we talk about the criticism.

Tim Stanvik (1:53)

I'm a glass. Well, it's interesting cause I feel like the strengths and the weaknesses go hand in hand a little bit. So you're exactly right. A lot of these kids came of age and experienced big life milestones during the pandemic inside through screens. So as a result of that, there are issues with socialization. Also learning was much more difficult and we were all kind of trying to find our footing. But at the same time there's a lot, this generation shows itself to be very good at teamwork, also very entrepreneurial because a lot of games like Minecraft and Roblox, like they have worlds inside of worlds where businesses can be built and things like that. And because social media can give people such A huge platform so fast. A lot of these very young, I mean, I almost even hesitate to call them kids, but a lot of these kids have huge audiences. They can develop products and, and, and put them out on a world stage. I mean it's just really impressive.

Stacy Vanek Smith (2:51)

It's impressing, but it's all, it's impressive.

Tim Stanvik (2:53)

Impressing.

Stacy Vanek Smith (2:54)

It's also daunting to me.

Tim Stanvik (2:55)

Yeah.

Lisa Mateo (2:56)

Why?

Stacy Vanek Smith (2:57)

Well, it's daunting to a few reasons. One, I don't love the idea that in order to be successful we have to have these big online presences.

Carol Massar (3:06)

Yeah.

Stacy Vanek Smith (3:06)

And I see this happen. Like, you know, my social media feed, which of course I try to keep it away from my kids, but like my social media feed, like there are kids whose parents are clearly enabling them to become creators and like want to be influencers and stuff. And I just wonder like, what are we, what are we doing to them in that process?

Tim Stanvik (3:25)

I mean, I think it's, it's a double edged sword for sure. I mean the screen time of the Alphas is pretty major. Kids under eight are spending at least like two and a half hours. Way less than on average, way less than their parents. Yes. But there's still quite a bit of screen time during very formative years. At the same time, a lot like agility with technology could be a real strength in AI coming into the workplace right now at a time of great transformation. But also I talked to one woman who started a jewelry business with her father. This jewelry business, Gunner and Lux. She was only five and she was making jewelry out of her plastic toys and her dad put pictures of it on Instagram and then she was doing deals with Barneys and it's like, it's pretty amazing. Yeah. They sell thousands of pieces of jewelry now at Gunner and looks.

Carol Massar (4:17)

Well, you do wonder like, you know, generational shifts. Right. And when you have a, like we talk about this all the time about. I have a daughter who's 23 and she's like, yeah, I kind of miss some of the upset with like phones and stuff. Although a phone is really important to her. But you do wonder about a generation that grows up this way and how they shape our economy and society going forward.

Tim Stanvik (4:38)

Yes. And this generation is very. Perhaps you could talk about this a little bit with your kids. Very outspoken. Apparently they direct way more money within their family than earlier generations. So a hundred. About that billion dollars in direct spending power. I mean between ages 1 and 16, $100 billion in the US of direct spending power. Apparently these kids just a huge say over Travel, food, streaming services. Just a much bigger voice that. I mean, when I was growing up, my parents did not consult me on any purchases I. Or even like, what to watch on tv ever.

Stacy Vanek Smith (5:12)

I think they were right, I will say.

Tim Stanvik (5:14)

I mean, they also think they were right. But a lot of times the shows I was watching, it was like when my dad got home, we would watch a boxing match. Yes. End of story.

Carol Massar (5:22)

No, you're.

Tim Stanvik (5:23)

You're absolutely right.

Carol Massar (5:24)

There has been a shift in terms of kids involvement, and I saw it even in my household, of just conversations about spending money and what we're doing. And like, it was kind of. I don't know if that's happening. Your kids are young.

Stacy Vanek Smith (5:36)

My 7 year old did tell us this week because it's school break right now and a lot of his friends are on vacation. He said, we should have gone on vacation this week.

Lisa Mateo (5:44)

No.

Carol Massar (5:44)

Yes.

Podcast Announcer (5:44)

Thank you for the feedback.

Stacy Vanek Smith (5:46)

Where. Where should we. Where should we have taken this vacation? And he said, to California, because then I can wear shorts. And I said, that's actually. That makes sense. You want to go somewhere warm. But we're not going on vacation this week. We're.

Carol Massar (5:57)

I don't know. You know, are these. Is this the Alphas? Are they. You have a line. Are uniquely positioned to help older generations discover and navigate different things. Like, I just. So good or bad, like, how are you, like, having done this story and talked to different folks, like, is this a good thing? Like what. Like, what's. Like, where do we go with this?

Tim Stanvik (6:17)

I ended up coming away thinking it was a good thing, but there's a lot of anxiety already. I mean, I think this generation is probably the most kind of fretted over and poked and prodded of any generation because of the pandemic. They're being measured all the time. Yeah. There's already all of this anxiety over them entering the workforce because a lot of teachers have gone online saying these kids have no discipline. They don't listen, they don't respect authority. And so of course, this has spawned. I mean, Alphas are just about to enter the workforce or have just barely

Carol Massar (6:46)

entered, but they were selling jewelry to Barneys or whatever the heck it was. Like, I mean, if you think about, like the. That part, that seems like a huge plus. I don't know.

Stacy Vanek Smith (6:55)

Do you think that we're talking about this generation differently than other generations have talked about new generations, like millennials, like Gen Z?

Tim Stanvik (7:04)

I think we are definitely talking about them differently because, I mean, I just think because of the moment we're in and because we all went through the pandemic and maybe in certain ways are still processing it, both as an economy and a society. I think the kids became a focus because we could at least look at kids and worry about them and their experience, even while we were still trying to process our own. So I think for that reason, we look at this generation differently. Like, how have they been shaped by this? Also, we're on the cusp of a huge technological revolution in the economy with AI, and this is the generation that's going to really grow up in that

Carol Massar (7:41)

30 seconds, 40 seconds. I do wonder, Stacy, is it, you know, kids, we always talk about being resilient. So is there a resiliency that they are coming out of the pandemic with or setback? Like, are we. Not quite sure yet.

Tim Stanvik (7:53)

I think there are definite setbacks. I mean, reading levels, math levels. Yes, a setback. I also think resiliency is a big, a big issue too, though.

David Gura (8:01)

They've.

Tim Stanvik (8:02)

They've undergone such enormous change and transformation. They've weathered the storm. They. They're probably better able to adapt to shifts and huge changes than. Than the rest of us were, simply because that is the water they grew up swimming in.

Podcast Announcer (8:19)

On masters of scale, iconic leaders reveal how they've beaten the odds.

Tim Stanvik (8:24)

Asking really strong questions is a superpower

Stacy Vanek Smith (8:27)

you want to show up with? Something radically different.

Podcast Announcer (8:30)

And how they've grown companies to incredible heights.

Tim Stanvik (8:33)

The greatest rewards always come from the greatest risks.

Podcast Announcer (8:36)

That's hit the gas. Airbnb, Zillow, Microsoft, Liquid death, and more. Hear from the founders who've changed the game. It's anything but business as usual. Find masters of scale on Apple Podcasts, Spotify, YouTube or wherever else you get podcasts.