Bloomberg, Deputy Mayor for Economic Development Robert K. With the protests escalating again, I am pretty tired of seeing the city’s young and disenfranchised fight each other amid an extreme housing shortage created by 30 to 40 years of NIMBYism (or “Not-In-My-Backyard-ism”) from the old wealth of the city and down from the peninsula suburbs.More I’ve spent time looking into the city’s historical housing and development policies. The alternative - inaction and self-absorption - very well could create the cynical elite paradise and middle-class dystopia that many fear. It doesn’t have to be this way. But everyone who lives in the Bay Area today needs to accept responsibility for making changes where they live so that everyone who wants to be here, can. At least that’s the story you’ve read in hundreds of articles lately. Today, the tech industry is apparently on track to destroy one of the world’s most valuable cultural treasures, San Francisco, by pushing out the diverse people who have helped create it. This was simply the result of bad planning and layers of leadership failure - nobody thinks farms literally needed to be destroyed to create the technology industry’s success. The Santa Clara Valley was some of the most valuable agricultural land in the entire world, but it was paved over to create today’s Silicon Valley. As Millennials continue to come of age and control an increasing share of the economy, understanding how their diversity and values play into their lifestyle and purchasing preferences will be essential to appeal to this generation of consumers.More According to Nielsen’s recent Millennials – Breaking the Myths report, those aged 18-36 are 77 million strong, or 24 percent of the population-the same as Baby Boomers (between 49-67 years old). And their dreams have the power to affect cities and towns across the U.S.
And offline, they prefer to live in dense, diverse urban villages where social interaction is just outside their front doors.īreaking from previous generations’ ideals, this group’s “American Dream” is transitioning from the white picket fence in the suburbs to the historic brownstone stoop in the heart of the city. As the founders of the social media movement, they’re never more than a few clicks away from friends and family.
Millennials are the social generation, both online and in-person.
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