The Death of Traditional TV: A Marriage of Internet and Television

Over the last decade, television as the world once knew has been changing.  It has to in order to survive.  With the widespread adoption of high speed internet and the infrastructure to support streaming videos online, it was a marriage destined to be.  One that is long overdue.

Generation Y, preferring the utility of a computer over the simple function of a TV, has been pushing for some time for a user friendly product or solution to blur the lines of cable television and internet.  A lot of attempts have been made, and some have been very successful, but the world is still in need of a disruptive, game-changing breakthrough.

TVSome argue that the issue is not with the devices, but with the overall content and delivery.  Too many hodge podge solutions with gimmicky names, clunky interfaces, boring and limitedcontent with high prices tags in no way satiates the media hungry millennials.  This often leads to multiple subscriptions and devices and often leaves them desiring more.

When that “more” comes around, it will likely sweep the industry take down many big players with it.

Maybe it won’t happen with Gen Y but with Gen Z, who is growing up smartphone and tablet in hand with on-demand videos.  A world of scheduled programs and intermittent commercial breaks seems like a foreign and antiquated process.  As they grow into young engineers and entrepreneurs, these aging companies will be directly in their crosshairs.

With most people owning multiple devices capable of connecting to the internet, the biggest surprise seems to be that the seamless internet and TV marriage hasn’t happened yet.

Do you prefer television or computers?

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Echo Boomers and the Power of Democratic Voice

The truth is out there and Generation Y is willing to find it!  The echo boomers, as the power users of the internet of the last decade, have decided as a mass on how to shape it.

What have they created?  With the power of the internet, they created the voice of society.  To some it may seem more like multiple voices.  And they might be yelling.  But its a voice that didn’t exist before.

With millions of voices from every generation asserting every little fact or opinion they have on everything, they turned the internet to a mine full of rich information.  They also showed us how to use this information for good and for evil… as well as confirmation bias… and conspiracy… for love… for hatred…and everything in between.

As the world rages on with fiery debate on every single topic under the sun, eventually and inevitably, over enough time, the world will sort things out.  Is the dress black or blue?  What does it mean to be patriotic?  What is freedom?

What used to take hundreds of years and generations of lifetimes to sort now comes at the power of light speed with a thousand minds collectively pushing and pulling.  Homosexuals who have struggled for centuries have found resolution from acknowledgement in society to marriage rights in a relatively short period.voice

The “truth” and what is “right” is subjective, but collectively society will decide one post, rant, tweet, or blog at a time.  Not everybody agrees, but people are being heard and that is what matters.

As the debate continues on, the only thing that is certain is that the power of the internet and more specifically, social networking, has had a profound impact on society.

Do you engage in online debates?

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Generation Y as Consumers: How Echo Boomers are Shaping the Future of Advertising

You see an ad for a good product and how wonderful it works.  It happens all too often – some guy on TV showing you how their product is superior to another, how their ingredients are fresher, their engineers smarter, etc.  Is it true?  It doesn’t matter says Generation Y.  We don’t want it.

Believe it or not, product superiority is a pet peeve for many Gen Y’ers.  Echo Boomers want more than claims that they are better.  Why?  Because EVERYONE’s product is great.  The snake oil salesman thinks his potions are the best in the world, the vacuum cleaner salesman – best vacuums in the world.

How do we differentiate what is a good product from the lemons?  Reputation and confidence in the product.   Generation Y expects you to put your product out there.  Do we want to hear how great it is?  No – we want to watch TV, visit our website in peace.  The LEAST you can do is entertain us a bit.  Don’t sell it to us, make us remember your brand and we will investigate it on our own, gather community and social feedback, and attempt to make the best possible decision based upon other’s experiences with the product as well as the company itself.

bad_burger.jpgFor many advertisers, they think just throwing out lifestyle-centric ads will turn echo boomers onto their products.  No, it takes more than that.  An example would be McDonalds.  Notice how they aren’t trying to convince people that their products are superior to other chains.  Instead, they are showing people having fun and living a certain lifestyle of people eating their food.  While this is in the right direction, it still doesn’t hit Generation Y dead on.

Generation Y also requires a product that speaks for itself.  While McDonalds is trying to re-image their brand, the products do not align up to the lifestyle advertising.  People KNOW its good tasting – but we also know its processed and bad for you.

On the other side of the spectrum, Chipotle has successfully convinced its customers that a 1000 calorie burrito is healthy simply due to fresh, locally produced, non-GMO ingredients.  The product follows the company’s beliefs.  Add in trendy music, modern color palette, and a web site with trees, blue skies, and artistic photographs of their food, and you have a company aligned for success with an entire generation.

good_burgerAs millennials demand a quality product from a quality company, there is also a growing willingness in the American economy, partly attributed to millennials, to pay a premium price to get it.  After decades of racing to the bottom, bringing you a 20 pack of underwear for 5 dollars and a dollar cheeseburger, there is a reversal in attitude.  The $10 burrito is suddenly worth it.  The premium is an investment in a superior product as well as their own beliefs.  Generation Y believes they can shape the future by buying an iPhone.  Its more than a product; its about the vision and direction the company is going.  They believe in Apple, not just their product, but what they are capable of.

As for companies like McDonalds – unless they find their identity in the world, not just as a company for profit, but as a responsible participant in the world – they will never be as relevant as they once were.

Are you willing to pay a premium for a product and company you believe in?

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Poll: Do You Have at Least 3 Months Income in Savings?

Generation Y doesn’t seem to be saving money.  This could be because of many reasons – cost of living is high, wages are down, unemployment is high, debt is skyrocketing.  Do you, Generation Y, have at least 3 months of income in your savings?  Please only vote if you are from Generation Y to preserve the integrity of the poll.  Feel free to discuss the topic in the comments or forum.

Do You Have at Least 3 Months Income in Savings?

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36 Facts About Generation Y in the Workplace and Beyond

More and more attention is starting to be paid to the working and spending habits of the biggest generation since the Baby Boomers: Generation Y.  There are 36 facts in the article at the bottom of the page.  I’ve pulled some of the more interesting bullets out to summarize, but I’d suggest reading the full article below.


  • About 40% of all young adults ages 18 to 24 were enrolled in either a two- or four-year college in October 2008.
  • So far, 1 in 5 Millennials are college graduates. An additional 26% are currently in school and plan to graduate from college, while an additional 30% are not in school but expect to someday earn a college degree.

Work Ethic:

  • About 37% of 18- to 29-year-olds have been underemployed or out of work during the recession, the highest share among the age group in more than 30 years.
  • About 60% of younger workers say it is not very likely or not likely at all that they will stay with their current employers for the remainder of their working life. (In contrast, 62% of Generation X workers say it’s likely they will never leave their current employer while 84% of Baby Boomers expect to remain with their current employer for the rest of their working life.)

Debt & Financial Outlook:

  • More than one in three young workers say they are currently living at home with their parents.
  • 31% of young workers are uninsured.
  • 7 in 10 young workers do not have enough saved to cover two months of living expenses.
  • In 2008, 67% of students graduating from four-year colleges and universities had student loan debt….Average debt levels for graduating seniors with student loans rose to $23,200 in 2008.
  • 60% of workers 20 to 29 years old cashed out their 401(k) retirement plans — typically a big financial no-no because such a move squanders retirement assets and forces the recipient to pay a tax penalty — when they changed or lost jobs.

Technology & Online Habits

  • 93% of teens ages 12-17 go online, as do 93% of young adults ages 18-29.
  • 75% of Millennials have created a profile on a social networking site.
  • 1 in every 5 Millennials have posted a video of themselves online.
  • 41% of Millennials use only a cell phone and have no landline.

Lifestyle, Civic Engagement, Family:

  • 1 in 4 Millennials are unaffiliated with any religion.
  • In 2008, 66% of Millennials voted for Barack Obama for president, compared with 50% of those 30 and older, the largest disparity between younger and older voters in 40 years.
  • Just 2% of Generation Y males are military veterans. (At a comparable stage of their life cycle, 6% of Gen Xer men, 13% of Baby Boomer men and 24% of Silent Generation men were veterans.)
  • 21% of Millennials are married (half the percentage of their parents’ generation at the same ages).

Please read the full article here at 36 Facts About Generation Y in the Workplace and Beyond.

10 Ways Generation Y Will Change the Workplace

Generation Y is reshaping the world.  Let us take a look at the 10 ways Employee Evolution thinks Generation Y will will change the workplace:

1. We’ll reduce executive compensation for underperforming companies. Generation Y will not allow excessive executive compensation for sub-par performance.  This was probably going to happen anyway with the transparency of Generation Y, but the fact that the recession highlighted this topic is icing on the cake.

2. Discussing salaries will be completely normal.  Transparency will continue. As Gen Y continues to work our way up the ladder, their salaries and lifestyle will be transparent to their peers and coworkers similar to how transparent their lives are already on social networking sites.

3. Employees will be more loyal than ever before.  While Generation Y notoriously jumped between employer to employer, once companies find out how to market their company’s culture to Generation Y, they will be some of their most loyal employees.  Companies that adapt will be held with respect and pride.

4. There will be less mass layoffs, but more pay cuts.  Generation Y is a team-based generation.  They want to win or lose as a team.  They will do what is necessary to survive as a team.

5. We’ll truly get over the “punch clock” mentality.  By the time Gen Y is ready to retire, people won’t even know what a punch clock is.  Work may still be demanding, the the hours will be flexible.

6. Independent contractors will become part of the team.  Contractors are everywhere.  They are cheap and experienced.  As this trend of contracting continues, the lines between employees and contractors will fade, and everyone will be considered part of the team.

7. Corporate branding will work in conjunction with personal branding
.  Generation Y is all about lifestyle.  Companies that adapt and re-brand themselves to market their culture will find themselves successful in the future… especially with the new technology and marketing ventures that Gen Y will pioneer.

8. Leadership will be a team effort.  As a team-oriented group, Generation Y will not stand by and watch one person insert his will on the company. Generation Y will restore a democratic voice to business and politics.

9. We will really know people before we hire them. As Gen Y becomes responsible for hiring decisions, you can expect some innovation in employee checks before the job offer.

10. Entry level employees will be students and teachers.  Right of passage is a thing of the past. As Gen Y grows up, cross-mentor programs will be instituted. Old will teach young and young will teach old.  This will ensure a lifelong education rather than the Peter Principle of being promoted to your level of incompetence.

Read the full article here at Employee Evolution.

Generation Y Doesn’t Want Cars

Generation Y is passing on cars compared to previous generations.  There are a number of influencing factors ranging from financial reasons to lifestyle reasons.  There are three main reasons why purchasing an automobile may be placed on the backburner for the echo boomers:

  • Generation Y finds cars expensive.  With the recession delaying the careers of many millennials, student and credit card debt up to their ears, and a rising cost of living across the country (gas prices – yikes), Generation Y may be reluctant to jump into a purchase that will add a couple hundred dollar monthly payments to their budget.  While some people see Generation Y as being financially irresponsible, it is quite the opposite.  Generation Y is making lifestyle choices to situate their financial situation.
  • Generation Y wants a more free lifestyle.  Why spend two hours in gridlock everyday?  Why buy an overpriced home and be locked into a 30 year contract when you can rent an apartment close to work, walk or take public transportation to work, and pack up and move on with your life in a year?  Generation Y is opting for a more liberating lifestyle where they can be flexible with their time.  They want to live in areas with good public transportation, close to all their amenities, close to work, and have the freedom to move if they change employers (which they do – often).
  • Generation Y wants to help the environment.  Cars are big polluters.  Echo Boomers are more likely to take public transportation, car pool, or live in a walkable distance to work than they are buying a hybrid.  While this isn’t the main deciding factor on buying a car or not, it is a low-priority, lingering concern that may be used to justify their lifestyle decisions.

Keep in mind that this doesn’t mean Generation Y doesn’t want cars – it simply means that they are capable of adjusting their life due to the circumstances.  If traffic improves, if prices come down, if the disposable income of Generation Y goes up, expect to see some more cars on the road.  Until then, automobile makers take note – this new generation is not afraid to defy the status quo for a more efficient lifestyle.

Read a similar article here at Kiplinger.

Generational Differences: Baby Boomer, Generation X, and Generation Y Comparison

Generations grow up with different beliefs and perspectives.  The conditions of the economy, the state of the world, technology, and social trends all impact the overall behavior of the generation.  For Generation Y, it is a return to traditional values, a strong sense of community and diversity, and an emphasis on technology, information, and education.

Let’s take a look at a comparison between the Baby Boomers (1946-1964), Generation X (1965-1976/1981), and Generation Y (1977/1982-1995/2001).  Please keep in mind these are generalized observations taken from a different article (see below):

Level of trust toward authority

  • Boomers are confident of self, not authority.
  • Gen Xers have a low level of trust toward authority.
  • Millennials have a high level of trust toward authority. Yet they are less trustworthy of individual people. Perhaps it’s from being born into an age of terrorism or maybe it’s their overprotective parents or the danger-obsessed media.

What do they view as the ultimate reward?

  • Boomers want a prestigious title and the corner office.
  • Gen Xers want the freedom not to have to do something.
  • Millennials prefer meaningful work.

How were their parents with them?

  • Boomers had parents who were controlling.
  • Gen Xers parents were distant.
  • Millennials? Their parents were intruding. Or, as my Millennial-age intern tells me, they have “helicopter parents”—they’re always hovering.

What are their views toward having children?

  • Boomers are controlled, their children were planned.
  • Gen Xer’s are doubtful about the possibility of becoming parents.
  • Millennials are definite about parenthood. In fact, they view marriage and parenthood as more important than careers and success.

And overall family life?

  • Boomers were indulged as children.
  • Gen Xers were alienated as children.
  • Millennials were protected as children.

Views toward education?

  • Boomers want freedom of expression.
  • Gen Xers are pragmatic.
  • Millennials need the structure of accountability.

Political orientation

  • Thankfully, boomers want to attack oppression. Without those views we might not have had civil rights or protested Vietnam.
  • Gen Xers are apathetic and more worried about the individual.
  • And the Millennials, the facebookers and Tweeters? It should be no surprise that they crave community.

Last but not least, the views on the big question...

  • Boomers want to know, “What does it mean?”
  • Gen Xers need to know, “Does it work?”
  • Millennials are curious to know, “How do we build it?”

Please read the full post here.

Where Do You Prefer to Live?

Generation Y, do you prefer to live in an urban environment, in the suburbs of a city, or in rural areas?  Please respect the integrity of the poll and vote only if you are an echo boomer.  Feel free to join in the discussion in the comments and on the forum.

Where Do You Prefer to Live?

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Generation Y Attitudes

Here is a snapshot of the attitude of Generation Y taken from a previous post.  Please keep in mind that this is a blanket generalization for an entire generation and shouldn’t be taken as anything more than an observed trend of a large populace.

Attitude/Behavior of Gen Y:

  • Raised as consumers in a media saturated, brand conscious world
  • Fostered a distrustful and cynical view of advertising as a whole – prefers trust, irony, and humor.
  • Parallel (rather than linear) thinkers
  • Apt to begin tasks randomly – perhaps in the middle – as opposed to a traditional starting point
  • Graphics oriented, see text as supporting visual material
  • Thrive on change and variety.
  • Demand quick, if not instant, gratification
  • Upbeat, confident, and assertive with high self esteem
  • Optimistic
  • Independent and self-reliant: Used to doing it (and many other things) themselves
  • Multi-taskers
  • Asserting their “intellectual authority” over parents, teachers, employers because they are more techno-savvy and capable of accessing greater breadth of information quickly.
  • High value for education – strive to continue education through life
  • Motivated and Goal-Oriented
  • Diverse and Tolerant
  • Strong dislike for racism in any form, sexism and homophobia
  • High in Volunteerism
  • Invest in the social and community causes
  • What do Gen Yers value most in life? Family, traditional values, country, planet
  • Unlike the Baby Boomer generation, Gen Yers value things other than income and status as being primary in life
  • Desire to work in highly motivated and committed teams
  • Need to be challenged – look for opportunities for growth, education, apprenticeship
  • Up to 20% of their time is spent alone
  • Includers – they make people feel welcome and involved
  • Lofty financial goals – remember they are spenders!
  • Trained to be “Doers and Achievers”
  • Limited Employer loyalty – Jobs for life are replaced with short-term contracts
  • 1 in 5 Gen Y women will choose to remain childless

Read the full post HERE.

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