Welcome to the YOLO Economy

In addition to the job-hopping you expected during the boom-time, the epidemic has created many more remote jobs, and has expanded the number of rent-seeking companies outside of large, coastal cities. This has given workers in remotely friendly industries such as tech and finance, more leverage to ask for what they want.

“Employees have a completely unprecedented ability to interact over the next 18 to 48 months,” said Jonathan Nightingale, author and co-founder of Raw Signal Group, a management training firm. “If I, as an individual, am dissatisfied with the current state of my employment, I have a lot more options than I can use.”

Different YOLO decisions can be made up to several factors: cabin fever, low interest rate, emergence of New mills-rich-quick schemes Like NXT and Mem Stock. But many seem to be related to a deep, generational disenchantment, and a sense that the economy is changing in ways that reward the insane and punish the vigilant.

Many people in their late 20s and early 30s – mostly those who went to good schools, work in high-prestige industries and would never be classified as “essential workers” – told me that the epidemic had caused Their faith in traditional white collar was destroyed. They saw their independent-minded peers getting rich by joining start-ups or gambling on cryptocurrencies. Meanwhile, their owners were drowning them in mundane tasks, or trying to Automate your work, And had generally failed to support him during one of the most difficult years of his life.

“For the past year, telling companies how to really value their work forces,” said Latisha Bird, a career coach in Charlotte, NC, “It has become challenging to continue working for companies that are in general Operate the business, regardless of how. Our lives have changed overnight. “

Ms. Bird, who trains women of color primarily in areas such as tech, finance and media, said that in addition to suffering from epidemic-related burnout, many minority employees have to deal with their employers’ shallow commitments from racial justice Disillusioned.

“Diversity, equity and inclusion are very important now,” she said. “Employees want to know, ‘Is this company going to support me?”

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