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Old August 28, 2019, 03:03 PM
Dien Rice Dien Rice is online now
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Join Date: Aug 2006
Posts: 2,710
Default Are they drowning in too much debt?

Quote:
Originally Posted by GordonJ View Post
I have more interaction via email than I do at the forum. And I think today's visitors, or most recent "members" are NOT as Entrepreneurial as they were 20 years ago.

Just MY opinion, today, the younger people are either looking for something quick and easy and don't want to work or they are more technical.
Hi Gordon,

I agree with you - I think there's a big change in entrepreneurship over the last 20 years...

I don't know exactly why...

Some people have said that the younger generation - at least those that went to college - have so much college debt nowadays, that it kills entrepreneurship. They have to figure out how to pay those hefty interest rates on their college loans, so they need a solid, steady, low-risk income... Which usually means a job.

It's not enough now to get a business quickly to the stage where it's "ramen profitable" - which is where you're making enough money to be able to live off of instant ramen! Now, you have to be able to pay your big college debts too...



(Graph from https://www.nytimes.com/2018/07/11/y...t-parents.html )

But, maybe there's more to it than that, too...

My wife's sister is 12 years younger than her, and is in her late 20s. She has a therapy practice (she's a speech pathologist), but also this year started a pretty cool business selling potted plants, which are quite "artistically" presented (they look great)! She's in the "millennial" generation... She clearly has an entrepreneurial bent.

Maybe they're more into "side gigs" nowadays, rather than full time entrepreneurial ventures? The term "side hustle" is a recent one that's come into vogue...

Best wishes,

Dien
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