In a recent interview with Larry King, theoretical physicist Stephen Hawking, argued that the biggest threat to humanity isn’t a nuclear war or the rise of artificial intelligence, it’s human greed and stupidity.
“Humanity needs to collaborate and change our assumptions of wealth and possessions if it is to tackle challenges like climate change, disease, food production and overpopulation.”
These words are disconcerting to say the least and serve as a rather shocking indictment of the direction in which humanity may be currently headed. Thankfully, there is one generation who appear to not only share his concerns, but are actively trying to find a solution to a problem that, if ignored, could have catastrophic implications for us all.
Success used to be defined by the house that you lived in, the car that you had on your driveway and the money that you had in your pocket. However, millennials, having seen the financial achievements of the baby boomer generation realise that monetary success alone isn’t the answer. As this quote from Forbes demonstrates, “Money is important and they [millennials] do enjoy making it, however, they long to be part of something bigger than themselves”.
Generation Y recognises there must be a more meaningful motivator for success than wealth alone. Indeed, the concept of ownership has changed dramatically over the last decade, with an increasing number of the young now choosing to take advantage of the Internet’s ‘sharing economy’.
This digital economy allows them to rent or borrow physical resources such as cars, electrical appliances and/or recreational goods, and frees them from the ‘burdens’ of ownership. It is perhaps unsurprising then that Hawking should also choose to comment on people’s changing attitudes towards ownership in his interview:
“People are starting to question the value of pure wealth ... is knowledge or experience more important than money? Can possessions stand in the way of fulfilment? Can we truly own anything, or are we just transient custodians?”
In longing to be part of something bigger than themselves, Generation Y are daring to ask the same questions — if money and possessions aren’t the key to happiness and fulfilment then what is? It appears that by being more socially conscious and responsible than any generation that has gone before, millennials may be one step closer to finding an answer to this question.
They understand that if they wish to be the instigators of positive change, then this can only be achieved by holding themselves and others accountable. Gandhi once said that “we should be the change that we wish to see in the world”.
Generation Y is embracing this philosophy, and they are inspiring the innovators, thinkers and entrepreneurs of our time, as well as the next generation, to do the same.
Perhaps it could be attributed to the wisdom of youth, but Millennials recognise that money is and can be used as a powerful force for good. However, when businesses work with the singular objective of maximising their profit margins and fail to consider their social impact, the pursuit of money becomes blind and the highest of ideals can all-too-quickly descend into greed and avarice.
As the gap between rich and poor only seems to grow wider, the need to find an antidote to the insidious nature of greed has never been greater. Generation Y understand that we must start taking a top-down approach to business to create a world where the monetary success of a company will no longer be of benefit to the few rather than the many.
Of course those at the top should be able to enjoy the fruits of their hard work and effort, but so too should the employees working within the company, the community in which it was founded and society as a whole.
Companies such as Starbucks, Zenises, Patagonia and Tesla, have taken heed by becoming more purpose-driven and are already yielding the benefits. They have found that the most effective way of connecting with the largest and most influential consumers in the market is by appealing to their strong sense of social consciousness.
In other words, millennials expect big business to reinvest in the social infrastructure of the communities that made them and to set up initiatives that benefit the most vulnerable and disadvantaged in our societies.
Over time, this will create a ‘drip-down’ or ‘domino’ effect that will ultimately enable individuals and communities to thrive. Millennials don’t only expect, but they demand that this Utopian vision, which many dismiss as being the folly of youth and naivety, become a tangible reality.
Because while those belonging to the older generation may have little belief that our society can ever change, Generation Y refuse to compromise their ideals. They know that if we change our attitudes towards wealth, hold each other accountable and resolve to conduct business in an ethical and socially responsible way, then we can, and more importantly must, create a better and fairer world for everyone.
The writer is CEO of Zenises.
