No Mercy / No Malice: War on the Young

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The Prof G Pod with Scott Galloway 15 min 2 speakers 8 chapters transcribed 2 months ago

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Transcript generated automatically by AI and may contain errors.

How does the episode introduce the claim that AI isn’t causing youth unemployment?

Unknown 0:01

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George Hahn 0:33

Two months ago, I called bullshit on the AI jobs apocalypse narrative. More recently, Sam Altman, Dario Amodi, and other AI leaders pumped the brakes on their claims of a coming white-collar bloodbath. The zombie narrative marches on, however, supporting the incorrect conclusion that AI is to blame for the bleak job market young people face. But according to new research from LSE, Oxford, and the New York Fed, the AI effect nearly disappears when you control for remote work. Translation? The reason your kid can't find a job isn't AI. It's your couch. See my recent deep dive on this topic. Work from home, like so many other choices our society embraces, is yet another front in our war on the young.

Why does the host argue remote work explains job market issues for young people?

George Hahn 1:30

That war was the subject of my 2024 TED Talk, which was the number one presentation last year, Week Flex. Sadly, the war continues. This week, we share a rerun, War on the Young, originally published April 19, 2024.

Scott Galloway 1:55

I'm Scott Galloway, and this is No Mercy, No Malice. Do we love our children? We say we do, but as a society, our actions suggest otherwise. War on the Young, as read by George Hahn.

George Hahn 2:19

This week I spoke at TED 2024, the iconic program's 40th anniversary event. I joined RuPaul, Kesha, and two different astrophysicists on the stage in Vancouver. I was given 15 minutes and took 17 to rifle through 47 slides articulating what I believe is the greatest challenge facing the U.S. It's not inequality, climate change, or war in the Middle East, but an issue that threads these threats together. America's war on the young. A war of mutually assured destruction. A decent proxy for the success of a society is how it treats children. Not how individuals parent, but the success of the structures, incentives, and leadership charged with preventing a tragedy of the commons. In sum, can we answer a simple question?

What evidence does the speaker give that America is ‘at war on the young’?

George Hahn 3:19

Do we love our children? In 2024 America, the rejoinder is disheartening. We've broken the social contract that binds America. Work hard, play by the rules, and you'll be better off than your parents were. For the first time in our nation's history, this is no longer true. Today's 25-year-olds make less than their parents and grandparents did at the same age, yet they carry student debt loads unimaginable to earlier generations. Neither the minimum nor median wage has kept pace with inflation or productivity gains, while housing costs have outpaced them. The statistics on children's and young adults' well-being are staggering. None of this is lost on young people, and the shattering of the social contract has left them feeling rage and shame.

George Hahn 4:18

Half of Americans older than 55 say they are extremely proud to be American. That number drops to 18% among 18 to 34-year-olds. This weakens the immunity system of America, allowing minor cuts to U.S. society to bring on deadly opportunistic infections. Just as when someone in your life blows up at you, it's about the issue at hand, and it isn't. American youth's warranted concern on social justice issues, despite remarkable progress on all these issues, turns seamlessly into rage. We don't lack the resources to level up young people and present the opportunities afforded my generation.

How have wealth and higher education been structured against younger generations?

George Hahn 5:07

But the cohorts who benefited most from the extraordinary post-war economic boom of the 20th century have pulled the latter up behind them. In 1989, adults under 40 held 12% of household wealth, while those over 70 held 19%. Today, those under 40 command just 7% of household wealth, while those over 70 control 30%. Higher education is the most effective means of closing the generation gap.