Who’d be an entrepreneur?

The New York Times guest essay is always a reliable place for interesting and proactive content, and a recent article from Emi Nietfeld is no exception. 

In the piece, she argues that Gen Z has fallen out of love with work, which for anyone that has managed a Zoomer feels absolutely bang on.

In Nietfeld’s words “they’ve watched millennial workers burn out, wages stagnate, degrees turn worthless and institutions crumble. Now, they’re entering what’s widely called the worst job market in years”. So yeah, fair enough. 

This combination of factors has meant we feel less in control of our lives than before. In particular, our Locus of Control (LOC), which reflects how much we expect our own behavior to affect what happens to us, is down compared to as far back as 1966. 

The systems that enable cause and effect (e.g. I work hard, so I can buy a house) have collapsed. In their place are some…questionable alternatives.

Gen Z are increasingly turning to entrepreneurship in a bid to beat the system, and honestly, what idiots would consider doing that?

Alternatively, there’s manifesting. This isn’t so much exercising control as hoping for the best. Research has found that those trying to manifest financial success are more at risk of bankruptcy, which suggests this isn’t a rock solid approach.

Then again, actual scientists have found that active optimists live longer, happier lives. It may not be control of your own destiny, but hope appears to be a useful alternative. Which is handy for all those budding entrepreneurs.