Author Topic: 'Psychologically scarred' millennials are killing dozens of industries  (Read 10979 times)

WhiteTrashCash

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The funniest thing I've read in the news lamenting about Millennials is how Millennials don't like to go to casinos and play slot machines. Ha! They thought Common Core math was ineffective. Now the kids know how probability works.
« Last Edit: July 10, 2017, 10:56:36 AM by WhiteTrashCash »

Polaria

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I'm a millennial, but only barely.

Seems that we're both Xennials, born between 1977 and 1983:  http://www.businessinsider.com/what-is-a-xennial-2017-6.
It sounds like an alien race...

DarkandStormy

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This is great! But what's a diamond in the void?

Millennials have "killed off" chain restaurants and diamonds, apparently.
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solon

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This is great! But what's a diamond in the void?

Millennials have "killed off" chain restaurants and diamonds, apparently.

Yeah, I read it wrong, but now I get it. Except, I don't. Chain restaurants and diamonds are still thriving, aren't they? Or are they thriving in spite of millennials best efforts?

Oh nevermind. It was still a funny script. No need to ruin it.

MrsPete

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Every generation embraces some products, quits buying others; for example, people are buying fewer wrist watches and fewer paper books ... but more small electronics and more LuLa Roe leggings.  Nothing new in that story -- just a change in details. 

Generation-M spends differently, but not more wisely or more foolishly.  For example, every M. I know personally -- even those who are doing well financially and who are long-range financial planners -- spends heavily on restaurants.  I think everyone on this board will say that's not particularly a good value for the food dollar. 

DarkandStormy

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This is great! But what's a diamond in the void?

Millennials have "killed off" chain restaurants and diamonds, apparently.

Yeah, I read it wrong, but now I get it. Except, I don't. Chain restaurants and diamonds are still thriving, aren't they? Or are they thriving in spite of millennials best efforts?

Oh nevermind. It was still a funny script. No need to ruin it.

http://www.marketwatch.com/story/here-are-all-of-the-things-millennials-have-been-accused-of-killing-2017-05-22

http://www.businessinsider.com/millennials-endanger-casual-dining-restaurants-2017-5
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marcela

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I am a BB and never understood fabric softener either. I actually hate it.  The smell is nasty. My kids don't like antique furniture and don't collect anything. I think that is common now for young people. Now us BB's are getting rid of crap we should have never collected and no one wants it:))
http://www.nextavenue.org/nobody-wants-parents-stuff/
I thought this article was really interesting and it definitely stands up to my experience. My IL's had inherited a ton of "antique" furniture/china/silver..etc from my GMIL who ran an antique business. They literally have their entire basement full of this stuff plus more in storage that they're paying every month for. They are always asking us to take some of the furniture, but we just don't want it. Big, heavy pieces of furniture with fussy carving that makes it hard to clean and harder to take with us when we move. They keep going out and buying more stuff stuff and crow about how great it will be when we get it all.
I feel like the next industry we destroy will be antique shops.

DarkandStormy

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mies

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http://www.cnbc.com/2017/07/12/millennials-dont-like-motorcycles-and-thats-killing-harleys-sales.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=104581572&yptr=yahoo

Millennials donít like motorcycles, and thatís killing Harleyís sales

Boom.  Another product down.

I don't think Harley's have the same rebel sex appeal they used to. Whenever I see someone on a Harley, it's almost always a flabby sunburned old guy not wearing a helmet. I certainly don't aspsire to that.
Less is more.

solon

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http://www.cnbc.com/2017/07/12/millennials-dont-like-motorcycles-and-thats-killing-harleys-sales.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=104581572&yptr=yahoo

Millennials donít like motorcycles, and thatís killing Harleyís sales

Boom.  Another product down.

I don't think Harley's have the same rebel sex appeal they used to. Whenever I see someone on a Harley, it's almost always a flabby sunburned old guy not wearing a helmet. I certainly don't aspsire to that.

I'm not sure they ever had sex appeal. Every time I see one it's just loud and obnoxious. You could get the same effect for $5 at a burrito stand.

dougules

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I am a BB and never understood fabric softener either. I actually hate it.  The smell is nasty. My kids don't like antique furniture and don't collect anything. I think that is common now for young people. Now us BB's are getting rid of crap we should have never collected and no one wants it:))
http://www.nextavenue.org/nobody-wants-parents-stuff/
I thought this article was really interesting and it definitely stands up to my experience. My IL's had inherited a ton of "antique" furniture/china/silver..etc from my GMIL who ran an antique business. They literally have their entire basement full of this stuff plus more in storage that they're paying every month for. They are always asking us to take some of the furniture, but we just don't want it. Big, heavy pieces of furniture with fussy carving that makes it hard to clean and harder to take with us when we move. They keep going out and buying more stuff stuff and crow about how great it will be when we get it all.
I feel like the next industry we destroy will be antique shops.

Antique shops destroyed, thrift shops booming.  I'll be buying that furniture for pennies on the dollar some day. 

pachnik

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Late baby boomer or early Gen X here.  I would love to get my hands onto a cheap antique dresser to replace the old Ikea one I've had for 20+ years.   


With This Herring

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AppleBee's? Good riddance.

PREACH

I never understood how they stay in business...

It's called a blondie, and it's a gift from the gods for those of us who never understood the whole chocolate obsession.

http://www.food.com/recipe/applebees-maple-butter-blondie-327002
Now you need never go to Applebee's again!  ;)  And I agree with you on the chocolate nonsense.  Just assume that we are missing a tastebud.

Antique shops destroyed, thrift shops booming.  I'll be buying that furniture for pennies on the dollar some day.

Me too!  I can't wait!
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Lis

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Lol I'm loving this thread. It's always great when you see an article that cries "why aren't millennials saving??" followed closely by "why aren't millennials spending money??"

facepalm

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http://www.cnbc.com/2017/07/12/millennials-dont-like-motorcycles-and-thats-killing-harleys-sales.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=104581572&yptr=yahoo

Millennials donít like motorcycles, and thatís killing Harleyís sales

Boom.  Another product down.

Harley is running scared. They are doing their best to figure out millennials, since their demographic is aging rapidly. Other brands, like Ducati, are doing their best to appeal/market to milennials, with some success.

When I go out riding I see most of the younger riders either ride some sort of scrambler or standard/naked bike, with a few sportbikes and adventure bikes tossed in. They do not ride Harleys or touring bikes.

Aelias

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"They don't buy napkins."

::overheard between grandma and my 4yo::

Kid: What are those?

MIL: These? They're Kleenex. Don't you have Kleenex?

Kid: Oh. Like in the bathroom.

MIL: In the bathroom?

Kid: Yeah. My daddy said Kleenex is just another name for toilet paper.

 . . .

Takeaways:

Kleenex totally is another name for toilet paper.

My husband is awesome.

My kid's going to be just fine.

bebegirl

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Had lunch outing with colleagues. Small talk with millennial:

Colleague: yeah, you can buy cheap gas at Costco so it makes sense to have membership
Millennial: well, I do not need gas. I do not have a car. I live in the city and take a bus to the office.

:)

Inaya

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Had lunch outing with colleagues. Small talk with millennial:

Colleague: yeah, you can buy cheap gas at Costco so it makes sense to have membership
Millennial: well, I do not need gas. I do not have a car. I live in the city and take a bus to the office.

:)


Only a matter of time before we add Costco and Sam's Club to the hit list. With our lack of cars and small apartments, buying bulk isn't very practical.
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http://www.cnbc.com/2017/07/12/millennials-dont-like-motorcycles-and-thats-killing-harleys-sales.html?__source=yahoo%7Cfinance%7Cheadline%7Cheadline%7Cstory&par=yahoo&doc=104581572&yptr=yahoo

Millennials donít like motorcycles, and thatís killing Harleyís sales

Boom.  Another product down.

Harley is running scared. They are doing their best to figure out millennials, since their demographic is aging rapidly. Other brands, like Ducati, are doing their best to appeal/market to milennials, with some success.

When I go out riding I see most of the younger riders either ride some sort of scrambler or standard/naked bike, with a few sportbikes and adventure bikes tossed in. They do not ride Harleys or touring bikes.

Millennials are all about the cafe racers!  If it's a restored 1970's cafe racer even better.

Or just do like my friend did and mod his harley to be look like a cafe racer.

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markbike528CBX

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Harley has tried cafe racers before, but maybe it will stick the next time.

https://en.m.wikipedia.org/wiki/Harley-Davidson_XLCR

StudentEngineer

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Sweet! So in other words, different generations like different things.... sounds about right. 
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Cromacster

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With yurts, campers and Wi-Fi, millennials fuel Minnesota camping boom

Another positive trend in Minnesota.  The MN state parks system has attributed it's surge over the past few years to millennials.
Mustachians are not the sort of people who sit around moaning about how the government is keeping them down.  Weíre the people who look at what we got, figure out what we donít like, and fix it.
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KBecks

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Applebees is for lower middle class date nights.

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Buying bulk has become a racket, and you really need to keep your eye on the power unit price.  Retailers have figured out that people think that buying bulk is cheaper and donít do the math.  I went to buy paper towels the other day and the 6 rolls for $9.99 had 30 yards while the 2 rolls for $4.99 had 16 yards.  Hopefully people, not just millenials, are starting to figure out all of the decontenting scams.

Maybe I am weird, but I am fine with Applebees.  It isnít awesome, but it is good place to take a family out once in awhile that doesnít break the bank.  I can usually find something decent to eat there. 

ketchup

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Buying bulk has become a racket, and you really need to keep your eye on the power unit price.  Retailers have figured out that people think that buying bulk is cheaper and donít do the math.  I went to buy paper towels the other day and the 6 rolls for $9.99 had 30 yards while the 2 rolls for $4.99 had 16 yards.  Hopefully people, not just millenials, are starting to figure out all of the decontenting scams.
Amazon is sometimes really bad about this.  Do you want one item x for $30, or two for $80?

MrMoogle

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Buying bulk has become a racket, and you really need to keep your eye on the power unit price.  Retailers have figured out that people think that buying bulk is cheaper and don’t do the math.  I went to buy paper towels the other day and the 6 rolls for $9.99 had 30 yards while the 2 rolls for $4.99 had 16 yards.  Hopefully people, not just millenials, are starting to figure out all of the decontenting scams.
Amazon is sometimes really bad about this.  Do you want one item x for $30, or two for $80?
I've noticed this at Target too.  Buy 1lb of cheese for $4, or 2lb for $9.  Then they'll put the 2lb on sale, "Only $8.49".

Lis

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Buying bulk has become a racket, and you really need to keep your eye on the power unit price.  Retailers have figured out that people think that buying bulk is cheaper and donít do the math.  I went to buy paper towels the other day and the 6 rolls for $9.99 had 30 yards while the 2 rolls for $4.99 had 16 yards.  Hopefully people, not just millenials, are starting to figure out all of the decontenting scams.
Amazon is sometimes really bad about this.  Do you want one item x for $30, or two for $80?
I've noticed this at Target too.  Buy 1lb of cheese for $4, or 2lb for $9.  Then they'll put the 2lb on sale, "Only $8.49".

I just bought two pillows off of Amazon. Single pillows were full price at $19.99 each, while a bundle of two pillows (nothing else, just two of the same pillows) were "on sale" at $49.99 (marked down from $59.99). The price of the single pillows hadn't changed in months. (Lucked out there - they're the most comfortable pillows ever.)

FrugalFisherman10

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The price of the single pillows hadn't changed in months. (Lucked out there - they're the most comfortable pillows ever.)
..and you know this because of your millenial-use of camelcamelcamel, AIR?
(and you know what AIR means because you're a good millenial :)


Millennials are all about the cafe racers!  If it's a restored 1970's cafe racer even better.

Or just do like my friend did and mod his harley to be look like a cafe racer.
)

Agreed, cafe racers have the right design 'aesthetic' to appeal to millenials. Don't know what it is... they are just so stripped down and sexy. Reminiscent of our obsession with eating/shopping/living in repurposed old factories/warehouses with exposed ceilings and steel beams.
(disclaimer: I don't ride motorcycles. disclaimer on the disclaimer: I think that makes my opinion more valid not less, on something like this. 
My roommate does ride a motorcycle and when he first showed me some cafe racers I immediately thought they were cool.)

I love avocado toast (also avocado bagels), as avocados are the Fruit of the Gods. Cream cheese, avocado, salt, pepper, squirt of lime - so good! Never paid $$ for it though. Was making it long before it became A Thing, and will continue eating it long after it has ceased to be A Thing.

Napkins, or rather "paper products designed to wipe things" are a funny thing. Buying toilet paper AND tissues AND napkins AND paper towels is a high number of very similar products to have to keep up with. So I use a short paper towel if I really need a napkin, and I use toilet paper if I really need a tissue.

Barely eat any fast food (though there is a weak spot in my heart for Chick-fil-a). I can go to a local diner or happy hour at a bar and get a far more satisfying burger at a cheaper price than McDonalds/BK/etc..
I'd totally buy those.

As it is, I'm annoyed that the last 6 pack of paper towel rolls I bought were not the ones with the perforation to make narrow pieces, so all of my paper towel napkins have ragged edges from me ripping a full piece in half.
Does anyone else ever experience that moment where you are reading something on here and the thought runs through your mind "We should date."

edited to add: "...stammers..er.. I mean, if you aren't a girl, a single one at that,  who lives in the southeastern US and would find that kind of comment funny (and flattering?), then I mean, it probably won't work.."
« Last Edit: July 26, 2017, 01:01:12 PM by FrugalFisherman10 »

stoaX

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Sweet! So in other words, different generations like different things.... sounds about right.

Well said.  Industries dying (and new ones being born) is not a bad thing.   Wasn't it Schumpeter who described capitalism as "creative destruction"?

ysette9

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Quote
I'm not sure they ever had sex appeal. Every time I see one it's just loud and obnoxious. You could get the same effect for $5 at a burrito stand.

Thank you for literally making me LOL while reading this at work on my lunch break!
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Vibrissae

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AppleBee's? Good riddance.

PREACH

I never understood how they stay in business...

My friends and I used to go to Applebee's almost every weekend when we were undergraduates in college, lo these many years ago. It's a decent hangout spot if you're too young to get into bars.

Now I'm grossed out by the thought. All that sugar, fat and salt! And their food isn't even prepared on-site, but in giant industrial kitchens and shipped frozen. All they do at their outlets is heat it up.

I don't know why my tastes have changed so much. Either my palate has gotten better, now that I know what real food is, or else I've just gotten crankier in my middle age.


I used to eat at Applebee's occasionally. Then one day I tried to order some shrimp entree; I forget exactly what.

Waitperson: Oh, we're out of that, but you could have [other shrimp entree].
Me: Why don't you just use the same shrimp that you would've used to make the...oh. You don't actually cook here.

Never went back. ^^ I could nuke a $1.99 Lean Cuisine for a similar (but probably healthier) effect.

Zikoris

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I was chatting with one of my fellow millennial coworkers the other day about diamonds and how our generation is killing that industry off. Neither of us knows anyone in our age group who finds diamonds appealing at all. I wouldn't want them even if they were free, because I don't like or wear jewelry at all. The whole industry seems like a scam to me, honestly.
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Missy B

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Had lunch outing with colleagues. Small talk with millennial:

Colleague: yeah, you can buy cheap gas at Costco so it makes sense to have membership
Millennial: well, I do not need gas. I do not have a car. I live in the city and take a bus to the office.

:)


Only a matter of time before we add Costco and Sam's Club to the hit list. With our lack of cars and small apartments, buying bulk isn't very practical.

Somebody needs a Rolser :)
While most of the people at my downtown Vancouver Costco location still use their cars, every trip I take I see at least one other person with a Rolser, who walked to Costco and is going to walk home. By definition, their walking-distance home is unlikely to larger than 650 square feet. I have 420 sq ft myself. If you're organized, you can usually find a place for the larger sizes. Others split large packages of staples like toilet paper or batteries with friends. They go together and split the rent on the car-share, of which we have 3 choices. Car sharing is massively successful in Vancouver and got its traction locally when millenials hit driving age. Gen X and millenials are the primary users.
A lot of products are half-price or better compared with my local grocery store, and with the excellent return policy, Costco isn't going anywhere.

Zikoris

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Had lunch outing with colleagues. Small talk with millennial:

Colleague: yeah, you can buy cheap gas at Costco so it makes sense to have membership
Millennial: well, I do not need gas. I do not have a car. I live in the city and take a bus to the office.

:)


Only a matter of time before we add Costco and Sam's Club to the hit list. With our lack of cars and small apartments, buying bulk isn't very practical.

Somebody needs a Rolser :)
While most of the people at my downtown Vancouver Costco location still use their cars, every trip I take I see at least one other person with a Rolser, who walked to Costco and is going to walk home. By definition, their walking-distance home is unlikely to larger than 650 square feet. I have 420 sq ft myself. If you're organized, you can usually find a place for the larger sizes. Others split large packages of staples like toilet paper or batteries with friends. They go together and split the rent on the car-share, of which we have 3 choices. Car sharing is massively successful in Vancouver and got its traction locally when millenials hit driving age. Gen X and millenials are the primary users.
A lot of products are half-price or better compared with my local grocery store, and with the excellent return policy, Costco isn't going anywhere.

We live in downtown Vancouver and bring our neon pink cat stroller to Costco. It has surprisingly good carrying capacity - up to 40-50 lbs, and a lot of volume. It's also very maneuverable in tight spaces, which is great for weaving in and out of those massive Costco shopping carts.
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marcela

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We do the buy in bulk and split between friends thing at Sam's Club. The membership cost is split 3 ways and then whatever gets bought is paid for via venmo. Great way to get the super cheap prices on stuff without having to take up the entire apartment.

FrugalFisherman10

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Anyone else thinking of ways to invest based on this thread? ;)

I mean I'm all for low cost passively managed index funds too (I actually don't own any single stocks and never have), but if I were to 'gaze into the future' based on the buying preferences of up and coming generations like the millenials, this thread would be a good guide.

ketchup

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Anyone else thinking of ways to invest based on this thread? ;)

I mean I'm all for low cost passively managed index funds too (I actually don't own any single stocks and never have), but if I were to 'gaze into the future' based on the buying preferences of up and coming generations like the millenials, this thread would be a good guide.
I'd say Mustachian millenials are a very bad group of consumers to base such wide projections on. :)  I know more peers that subscribe to expensive-bullshit-in-a-box-weekly plans than take cat strollers to Costco.

dougules

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I was chatting with one of my fellow millennial coworkers the other day about diamonds and how our generation is killing that industry off. Neither of us knows anyone in our age group who finds diamonds appealing at all. I wouldn't want them even if they were free, because I don't like or wear jewelry at all. The whole industry seems like a scam to me, honestly.

The big demand for diamond rings actually was a scheme concocted not really very long ago.  And until relatively recently the De Beers company held a virtual monopoly on diamonds.  They were a pretty evil company.

https://blog.hubspot.com/marketing/diamond-de-beers-marketing-campaign

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Anyone else thinking of ways to invest based on this thread? ;)

I mean I'm all for low cost passively managed index funds too (I actually don't own any single stocks and never have), but if I were to 'gaze into the future' based on the buying preferences of up and coming generations like the millenials, this thread would be a good guide.

The answer is very clearly avocado toast.

Travis

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I was chatting with one of my fellow millennial coworkers the other day about diamonds and how our generation is killing that industry off. Neither of us knows anyone in our age group who finds diamonds appealing at all. I wouldn't want them even if they were free, because I don't like or wear jewelry at all. The whole industry seems like a scam to me, honestly.

The big demand for diamond rings actually was a scheme concocted not really very long ago.  And until relatively recently the De Beers company held a virtual monopoly on diamonds.  They were a pretty evil company.

https://blog.hubspot.com/marketing/diamond-de-beers-marketing-campaign

This pretty much sums it up:

https://www.youtube.com/watch?v=giu23Ii3PAA

MrMoogle

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AppleBee's? Good riddance.

PREACH

I never understood how they stay in business...

My friends and I used to go to Applebee's almost every weekend when we were undergraduates in college, lo these many years ago. It's a decent hangout spot if you're too young to get into bars.

Now I'm grossed out by the thought. All that sugar, fat and salt! And their food isn't even prepared on-site, but in giant industrial kitchens and shipped frozen. All they do at their outlets is heat it up.

I don't know why my tastes have changed so much. Either my palate has gotten better, now that I know what real food is, or else I've just gotten crankier in my middle age.


I used to eat at Applebee's occasionally. Then one day I tried to order some shrimp entree; I forget exactly what.

Waitperson: Oh, we're out of that, but you could have [other shrimp entree].
Me: Why don't you just use the same shrimp that you would've used to make the...oh. You don't actually cook here.

Never went back. ^^ I could nuke a $1.99 Lean Cuisine for a similar (but probably healthier) effect.
I don't know how much food prep is done at Applebee's.  Restaurants that make the food there, prepare it earlier in the day, and cook and add the final touches after you order it.  So they could be out of chicken marsala, but still have fried chicken even if they make it in house.

Sibley

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Re: 'Psychologically scarred' millennials are killing dozens of industries
« Reply #92 on: August 06, 2017, 07:15:37 PM »
Eh. I think millennials are used to being accused of causing all of the bad things in the world. It's been happening ever since we were born.

I'm 43 and don't eat at any of these (gross) chains or use paper napkins or stupid chemicals like fabric softener either. Millennials sound pretty smart to me!

I'm a very early Millennial, sometimes GenXer depending on where the article of the day draws the line. I've NEVER gotten fabric softener. You're paying to have your clothes beaten up faster?

But I have a strong dislike for fabric softener after buying this house I live in now. The people who owned this house before me used a lot of fabric softener and I had to practically take apart the washing machine to clean all of that blue goop out that was stuck inside the fabric softener dispenser area.

Vinegar. I dumped something like 10 gallons of vinegar into the washing machine at  my last place, let it sit, agitated, etc. Over and over. What was finally rinsed out was pretty gross, but washer seemed a LOT cleaner.

I'd do it to my current washer, but it's terminally ill and the new one is being delivered soon. SpeedQueen! Expensive, but will hopefully last as long as the current one did (about 30 years).

Sibley

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Re: 'Psychologically scarred' millennials are killing dozens of industries
« Reply #93 on: August 06, 2017, 07:27:45 PM »
Anyone else thinking of ways to invest based on this thread? ;)

I mean I'm all for low cost passively managed index funds too (I actually don't own any single stocks and never have), but if I were to 'gaze into the future' based on the buying preferences of up and coming generations like the millenials, this thread would be a good guide.

Hearing aids and stuff for hearing loss. Seriously, headphones and earbuds - not good for your hearing. It may have gotten slightly better the last couple years, just because I can't hear everyone's music, but that damage is done. Between the Baby Boomers and then the self-inflected hearing loss of Millennials, there will be a lot of demand.

Inaya

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Re: 'Psychologically scarred' millennials are killing dozens of industries
« Reply #94 on: August 07, 2017, 09:44:37 AM »
Anyone else thinking of ways to invest based on this thread? ;)

I mean I'm all for low cost passively managed index funds too (I actually don't own any single stocks and never have), but if I were to 'gaze into the future' based on the buying preferences of up and coming generations like the millenials, this thread would be a good guide.

Hearing aids and stuff for hearing loss. Seriously, headphones and earbuds - not good for your hearing. It may have gotten slightly better the last couple years, just because I can't hear everyone's music, but that damage is done. Between the Baby Boomers and then the self-inflected hearing loss of Millennials, there will be a lot of demand.


I hear people's music just fine, and that's when I have my own ear buds in. I've never understood why you need your music so loud that I can hear it over my own. Unless that's a symptom of their hearing loss already? I've always had good hearing, and I like it that way, so I've always kept my music pretty low. Plus, I like to be aware of what's going on around me.
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FrugalFisherman10

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Re: 'Psychologically scarred' millennials are killing dozens of industries
« Reply #95 on: August 08, 2017, 10:43:40 AM »
Anyone else thinking of ways to invest based on this thread? ;)

I mean I'm all for low cost passively managed index funds too (I actually don't own any single stocks and never have), but if I were to 'gaze into the future' based on the buying preferences of up and coming generations like the millenials, this thread would be a good guide.
I'd say Mustachian millenials are a very bad group of consumers to base such wide projections on. :)  I know more peers that subscribe to expensive-bullshit-in-a-box-weekly plans than take cat strollers to Costco.
No I'm not suggesting to invest based on Mustachian millenials, just Millenials. They (we) are the biggest generational segment of the population now, so our buying choices will heavily impact the future for the next 30 - 80 years.
Taking your example, I would be looking for a way to invest in "expensive-bullshit-in-a-box-weekly plan" companies.