Your Parents’ Wealth Now Matters More Than Your Salary — With Eliza Filby
Historian Eliza Filby joins Scott Galloway to discuss her book Inheritocracy, arguing that since the 2008 financial crisis, access to parents' wealth matters more than salary or hard work for young people's opportunities.
The gist
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Filby's survey of UK under-45s found those earning over $150,000 most often said they live in an inheritocracy, and most received parental support.
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Filby asks when parental support becomes disabling, citing a 35-year-old failed actor who wished his parents had cut him off at 25.
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Galloway's plan is "scale up or scale down": help a child teaching in a pricey city, cut back one living off his card.
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Filby says 42% of millennials and Gen Z have prenups, often pushed by middle-class parents protecting wealth when partners differ in family money.
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Filby warns millennials and Gen Z may spend as long caring for elderly parents as for children, and teaches her son to cook and clean.
Made by someone on this episode
Notes on Being a Man
· Scott Galloway's
— Scott Galloway's book about addressing the masculinity crisis, buil...
Also mentioned
1:07
Inheritocracy
· "So, I kind of deliberately chose this word, a provocative title that essentially made up, right, as the..."
7:18
Downton Abbey
· "Particularly in the UK, frankly, where we like to assume that our aristocratic dominance is, you know, now..."
9:59
Casa Cipriani
· "I went to one called Casa Cipriani downtown and I went with three buddies and we ordered some appetizers..."
33:27
Kyla Scanlon
· "We are living in this era of economic nihilism, you know, popularized by the likes of Kyla Scanlon."
41:57
Richard Reeves
· "The conversation about what is masculinity in the 2020s is really important, and Richard Reeves obviously..."
45:29
The Atlantic
· "As we stand here today, amongst a very educated populace who has subscriptions to the Atlantic and..."
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