OnlyFans and AI training: why gen Z doesn’t care where our money comes from
With traditional goals such as stability and homeownership feeling out of reach, young people are focused on the present
TL;DR
- Financial nihilism describes the reaction to the dissolution of linear wealth paths, with money being thrown at prediction markets, meme stocks, and cryptocurrencies.
- Production nihilism, a new term, describes the growing indifference of younger generations to the types of work they participate in and where they earn their income.
- The traditional work ethic, fueled by the need for stable employment and long-term goals, is weakening as young people face job insecurity and unaffordable housing.
- Many young people are engaging in 'polyworking,' taking on multiple jobs, including training AI, creating 'YouTube empires,' and working on platforms like OnlyFans, often prioritizing autonomy and identity.
- Side hustles have become common, with Gen Z reporting higher rates than boomers, functioning as identity work while day jobs serve as financial anchors.
- This shift represents a transition in the economic relationship with the future, where the inability to attain a prosperous future leads to a focus on 'maxing' for the present.
- Gen Z reclaims the image of exploitation, not as helpless objects but as subjects actively engaged with the economy, detaching from the neoliberal 'good life' fantasy.
- The concept of 'high-agency' individuals is presented as a Silicon Valley idea that may not represent true agency but rather another way to adapt to an economy with fewer opportunities.