Gig Workers, Millennials, Gen Z – It’s a Gemz world out there

With young people (millennials and Generation Z) making up the majority of India’s population, there is a need to closely observe and understand how their digital lives, habits and interpersonal relationships are driving noticeable changes in the norms of society and society. Culture.

For me, the Gig Economy, Millennials & Gen-Z (GEMZ) are the real gems of this century. It is an exciting time to be alive and to see opportunities around us.

It’s just that GEMZs are in a somewhat similar situation of not being fully understood, but much discussed and debated and mostly overlooked or worse of being written off, like “these youngsters”.

Because they are important to be included in our political discussions and narratives, because they represent our future. And they are the future! Some trends to learn and follow as they evolve and shape societal narratives.

Gig economy

  • A concert economy is a free market idea, represents fleeting employment and largely supported by digital media.
  • The culture and personality of work organizations is changing rapidly and must adapt to the new normal of the odd-job economy.
  • Predicting the future of work, socio-economic trends, and learning to optimize dispersed market resources for better results would start to make the news.
  • Relationships

  • Lately, we have seen individuals gain popularity on social media platforms like TikTok, Instagram, YouTube, etc. We have observed that many people started out individually, made friendships online and offline with other content creators. Often times as an audience we have also been able to observe these friendships, these relationships evolving and developing in real time, as many of these people share a large part of their lives on social media platforms.
  • Will online relationships be long-lasting and lasting?
  • Will people need to meet face to face to form opinions, points of view, prejudices and real human relationships? Will there be permanence in relationships or will there be depth in relationships or will there be needs-based relationships?
  • Asset ownership

  • That Gen-Z shuns ownership of assets in physical mode seems to be obvious. Although this has been said of millennials, it has given rise to a lot of lightweight shared economy business ideas like Uber etc.
  • Will there be an increase in fractional ownership of materialistic objects? Will the world’s NFTs shape such ownership ideas in other investment spheres?
  • Will these impact or alter traditional asset classes like real estate, jewelry etc. ? Or will we see changing asset classes emerge faster than ever before?
  • Numerical and cognitive correlation

  • Generation Z grew up with digital technologies within them. Hence the term digital-native.
  • Their way of thinking and perceiving is different from the way non-digital natives do.
  • Thus, the range of differences between “digital as a way of life” and “digital as a way of life” will have an impact on the way humans think.
  • Web 3.0

  • Web 2.0, invented by O’Reilly and others between 1999 and 2004, changed the world of static desktop web pages designed for information consumption, and served as expensive servers for interactive experiences and content generated by the users who brought us Uber, AirBnB, Facebook and Instagram. The rise of Web 2.0 can be explained in large part by three main levels of innovation: mobile, social and cloud; and benefits over 3 billion people for over 80% of their waking hours, every day!
  • Web 3.0 is the next step in the evolution of the Web which operates without servers, relies on a network of phones, computers and other devices. It does not allow any entity in the network to have control over the data – in short, decentralization.
  • In a Web3 world, people are in control of their own data and move from emails to their social media to shopping, using a single personalized account, creating a public blockchain record of all their activity.
  • Democratic leadership

  • Will Indian New Age Businesses See Some Form of Democratic Leadership? Where could the leader take everyone?
  • Or will we see an authoritarian style of leadership on the part of Generation Z?
  • Legacy is important, but not history

  • As much as non-digital natives emphasize the story and take comfort in or even take offense at it, Gen-Z doesn’t care.
  • For young people, creating a legacy is an important goal, whether it is simple or difficult. But they clearly distinguish their own heritage from that of someone else, which to them is “history”.
  • Belief in yourself, to the point of seeming arrogant

  • The exuberance of self-confidence is an amazing trait to learn from young people. Many times they are seen to be arrogant or appearing overconfident.
  • This personality trait comes from their lack of fear of failure, something my generation has confused with fear vs respect!
  • It sounds rebellious, but with a cause

  • While all of us, down through the generations, seemed to be a rebel to the next; Gen-Z seems well settled in the sense that they have a reason to rebel.
  • It is this “sense of purpose for impact” that sets them apart.
  • No wonder we see their spirit “dare to dream”.
  • The PIN code of their origin does not determine the pass code

  • Until a few years ago, origin, studies or networking was an important basis. For Gen Z, where they come from is least important because they believe in themselves and in the power of their ideas. They don’t worry about failures or obstacles. Will they create their own code of conduct? Will they be inclusive and humble, even with success? With them do they deal with the rest of society fairly?
  • – The author, Srinath Sridharan, business advisor and independent market commentator. Opinions expressed are personal

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