@macs
Really good article.
Tldr: Lots of bad economic trends; college debt, housing affordability, ... . Those push younger people to allocate more to gambling with memecoins, prediction markets, and sports betting.
My 2 cents:
1) Education system & financial system clearly have issues. I'm optimistic that democratizing both will help.
2) I'm not as concerned about Gen Z risk taking -- It makes sense to take more risk when young & when debt is cheap as it has been for Gen Z's whole life.
3) I am concerned about the instruments; sports betting, memecoins, ... . But I blame overly restrictive regulation around better options. If we had a choice between participating in SpaceX's upside vs gambling on "how many times will Elon tweet this week", I think we'd choose the former. But only the latter has been accessible, and that's a regulatory failure.
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