Name: How Millennials Are Redefining Global Politics
Uploaded: 2016-10-18
Duration: 4 min 30 s
Description: Especially when it comes to national security

I want to ask all of you about the Millenials, about this new consuming group. They're so interesting in so many ways. I mean globally they tend to be more nationalistic. In emerging markets anyway. They have different consumption patterns. They're skittish. They're part of the sharing economy. We're not sure how they're going to act As consumers or as citizens. Fran, what do you think this is gonna mean for global politics? You know, it's interesting. So the internet has allowed us the sort of freedom, and for the consumer to speak. To get the things that the consumer wants. On the other hand, we've also seen in the national security realm where this has had a real sort of negative effect, if you will. Look, ISIS understood perfectly well that they could use the internet as a weapon and the US government and US government policy, across two administrations frankly, was slow to react to that because we very much prize our freedom of speech, and rightly so. And so I think that what we're going to struggle with. And what you hope is that the regulator doesn't overstep, right? It's worked very well commercially. The freedom of the internet. And allowing the consumer get access to what it wants. And get it in real time. We have to be careful and understand that there are risks that come with that on the terrorism and national security side. But we shouldn't let that drive what our regulation and policy is. Because, again, if you overplay your regulatory hand, it's gonna have a negative economic effect that we don't and we can't well afford right now. Now. That's interesting. Do you wanna pick up on that, Sandy? Well, I think that's absolutely true. I think the other interesting thing, you made a comment about younger people are much more nationalistic. In emerging markets, yeah. In emerging. Well, actually, we don't see that. We actually see the opposite. [ INAUDIBLE ] Which is they have exposure to many more things, and they have exposure to a broader world view. Unless of course in certain countries their restrictions on what's allowed. You know, which is another big challenge you have when governments are saying no, you have no access to these things. But our sense is that generation of people who are under 35. On a whole day, actually many of them are more global citizens than their parents were. And so, yes at the moment there's a lot of nationalism because of insecurities and whether people are gonna have jobs. All those other challenges particularly in countries that have very large young populations. But they do have many of these kids have a much more global mindset. And maybe I'm being Poly Annish here but I actually think hopefully over time this will allow us to actually deal with some of these issues in a very different way than we're dealing with them now .>> That's interesting .>> And I think we have to we as corporate People who have responsibility have to find ways to actually enable that to happen the right way and work with governments around the world to ensure that we're allowing them and these younger people to have access that's good for them and is non- threatening to those government. and your nodding Yeah I was just thinking about the Brexit vote in the UK actually in particular because the younger cohort were the ones who voted most positively to stay as part of the EU so it really build on that. But I think one of the other things that we have to be a little carefull of when we talk about millennials, because I think we're all looking at businesses thinking How differently we have to do things to adapt to millennials. Millennials to an extent had a longer period as, I say adolescence in quotes, but they're living at home longer, they're studying for a bit longer. Whether they exhibit the same behaviour in five years time, in ten years time I think is. Is interesting. I don't think they'll lose all of it, but some of the things that you start to see once you're responsible for your own mortgage, once you're on your own life journey, things like job security, security of income. We might see quite different behavior coming from this cohort a little bit further down the line once they have A partner in children and are thinking about those things. So I think we need to be just a tiny bit careful when we're talking about them as a group. Or just think about what our parents said about us. Right. [ LAUGH ] Well. And it's interesting. But they have [ UNKNOWN ] if you look historically, economic behaviors. Are basically formed in your 20s, if your a child with great depression, my grandmother uses a tea bag 10 times you know. The boomers had a certain kinda behaviour, the millennial's will be imprinted. Right. By the financial crisis and great recessions. [ MUSIC ]

Especially when it comes to national security