In this conversation, Sabrina Maddeaux and Mike Moffatt are joined by co-host of the Prof G Markets podcast with Scott Galloway, and host the First Time Founders podcast Ed Elson to discuss the economic challenges faced by Gen Z, including their financial struggles, housing affordability, and the rising costs of education. Ed highlights the generational wealth gap, the impact of debt, and the political engagement of Gen Z, emphasizing the need for action beyond social media advocacy. Together they delve into the disconnect between wealth and economic outcomes, particularly focusing on the impact of tariffs and taxation on different socioeconomic classes. They discuss the need for wealth redistribution through new tax policies and the challenges faced by younger generations in navigating financial landscapes. The conversation also touches on the importance of civic engagement and voting, as well as the growing epidemic of loneliness in society.

Chapters:

00:00 Introduction

01:49 Understanding Gen Z's economic struggles

06:22 Comparative analysis of the US, UK, and Canada

08:34 Factoring in the housing affordability crisis

13:29 The debt dilemma: Buy Now, Pay Later (BNPL)

17:26 The rising cost of education in America

21:35 Gen Z's political engagement and activism

25:17 Tariffs, stocks, assets and wealth inequality

27:38 Taxation and wealth redistribution

31:23 The disconnect between wealth and economic outcomes

34:08 Investing in stocks and not in crypto

Ed Elson: Is Gen Z Doomed?