Gen Z is playing the economy like a casino
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With AI presenting a looming entry-level job crisis, and more tools available than ever to make a quick buck on your phone, Gen Z is becoming America's "get rich quick" generation.
Why it matters: The American dream is no longer defined by years of hard work paying off with a home and job security. It's now about hope for a big break after taking bigger risks.
- The rise of billionaire creators such as MrBeast is also inspiring younger generations to try to build massive wealth by building big followings on social media.
Driving the news: The S&P 500 just crossed 7,000 for the first time, one day after consumer sentiment hit the lowest level in over a decade.
- The stock market is not the economy, but right now, it acts as a hedge for retail investors who feel bad about the macro picture.
Zoom in: The rise of mobile apps for online betting, retail investing and video creation over the last five years has made it easy for young users to access industries that historically required access to a casino, Wall Street trading floor or studio.
- Online betting is skyrocketing, and it's not just about sports anymore: Platforms like Kalshi and Polymarket allow consumers to place bets on everything from current events to weather patterns.
- Downloads to Kalshi and Polymarket have jumped more than 3000% and 2500%, respectively, for 17- to 25-year-old mobile users in the U.S. between December 2024 and December 2025, per Apptopia.
- Retail investing through apps like Robinhood is soaring as young people view the stock market as another form of income, a bet that has paid off amid the AI-driven rally.
- Research shows Gen Z is far more likely to start investing in early adulthood than previous generations.
- Influencer is the top profession that Gen Z says it aspires to, with more than half of Gen Z and millennials in a survey saying they would choose a social media career over any other profession, per Morning Consult.
- Creator economy apps like Patreon and Canva have seen largely positive engagement growth over the asteroid year, per Apptopia. CapCut, a video editing app tied to TikTok, was in the top 10 most downloaded apps in the U.S. last year.
The big picture: In a world where AI can take your job, a global pandemic can disrupt your future, home ownership is the most expensive it has ever been, and the return on investment in a college education is increasingly murky, betting no longer seems like a risk.
- It seems like a necessary hedge against volatility.
Reality check: The creator economy, still in its nascent days, is failing to spread the wealth. Most of the top earners across platforms like YouTube, Spotify and TikTok are concentrated in a smaller set of high performers.
- While creator economy companies now do more to make monetization more equitable across a broader set of creators, the likelihood that any influencer will establish a large enough following to earn a full-time living from content creation alone remains low.
What to watch: Whether the new "get rich quick" methods actually pan out.
- The stock market could stop rallying, bets could go wrong and influencing hasn't been the most stable or lucrative career path.
The bottom line: For young people, taking those risks is worth the reward, especially as they see few other avenues to build wealth.
