Novara Media Downstream: The Real Reason Millennials Are Screwed w/ Eliza Filby
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Aug 4, 2025 Eliza Filby, a historian and author of 'Inheritocracy,' dives into the harsh realities of generational inequality. She challenges myths surrounding class and meritocracy, shedding light on how inherited wealth influences opportunities. Eliza discusses the impact of parental support on housing and employment, highlighting the differing financial perspectives of millennials and Gen Z. With personal anecdotes, she critiques the traditional structures that exacerbate class divisions, urging a conversation about economic disparities and the legacy of the Baby Boomers.
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Bank of Mum and Dad's Influence
- The "bank of mum and dad" is the sixth largest mortgage lender in the UK, showing inherited wealth's major role.
- Despite modest median inheritance, parental gifts increasingly determine life chances over meritocratic ideals.
Eliza Filby's Educational Struggle
- Eliza Filby pursued extensive education but earned just £10,000, remaining dependent on her parents' property wealth.
- Despite meritocratic efforts, property decisions by parents gave her opportunities beyond academic achievement.
Millennials vs Gen Z Financially
- Millennials and Gen Z differ economically; millennials grew during a consumer boom, Gen Z during recession.
- Gen Z's financial savvy includes entrepreneurial hustling and digital money management unlike millennials.
