Millennials Aren’t Big Spenders or Risk-Takers, and That’s Going to Reshape the Economy

Los Angeles Times: “As they emerge this year as the United States’ largest demographic group — some 75 million strong — millennials are taking up the mantle as the most impactful generation since the baby boomers.”

“For starters, millennials are not big spenders, at least not in the traditional sense… Instead of material wealth, millennials show off through their travels, hobbies and even meals, which get photographed and posted on Facebook, Instagram and other social media.”

“Another key difference with their predecessors, particularly Generation X, is that millennials are not big risk takers. That seems especially true when it comes to starting businesses.”

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