In today’s America, those of us with college degrees, post-graduate qualifications, and corporate or entrepreneurial titles are no longer the majority, nor are we the ones holding the most influence. Instead, we are outliers. The recent election reflects the reality that the ruling majority is no longer defined by traditional markers of privilege or opportunity. This majority, largely composed of Millennials and Gen Z, is navigating an economic landscape vastly different from the one their parents or grandparents traversed. They are the generation that, despite being among the most educated in history, faces mounting challenges in achieving what used to be called the American Dream. Listen to the accompanying podcast above or here.
The statistics paint a stark picture of this new reality. According to data from the National Center for Education Statistics, the U.S. high school graduation rate reached 86% in recent years, marking steady progress. However, the path from high school to college is now fraught with economic risks. Among Millennials, roughly 40% completed a bachelor’s degree by age 25-29, compared to just 25% of Baby Boomers. Yet, despite being more educated, they are burdened with a collective $1.7 trillion in student debt. The average borrower from the Class of 2022 left college owing nearly $30,000, a sum that dwarfs the average starting salary and constrains opportunities for homeownership, investing, or starting a family.
Furthermore, the gap between earning potential and college debt underscores a deeper issue: a divergence in economic mobility and lifestyle stability. Millennials and Gen Z are the first generations predicted to earn less than their parents, as reported by the Pew Research Center. As housing prices surge and wages stagnate, homeownership – once seen as a cornerstone of middle-class success – becomes an elusive dream. Only 37% of Millennials owned homes at age 30 compared to 48% of Baby Boomers at the same age.
In contrast, those of us who have found stable footing within corporations or entrepreneurial roles are increasingly rare. The post-pandemic era has ushered in flexible work models, with many navigating hybrid schedules of three days in-office. This privilege of flexibility is inconceivable to the majority who work multiple jobs just to make ends meet, whether by driving for Uber, delivering with DoorDash, or stocking shelves at Costco. The typical Millennial or Gen Z worker today is not clocking out after eight hours; instead, they are pushing through 60-hour work weeks, piecing together income streams to scrape by.
This new reality demands that we, as members of the educated and corporate elite, reassess what "privilege" really means. The term, traditionally associated with wealth, education, and opportunity, now reveals a gap as significant as any in modern history. Privilege, in a way, has been recast as a manifestation of societal greed, whereby those in positions of economic security hold onto their privileges while others are locked out. This perspective calls for a reassessment of leadership, a core principle outlined in the new book The Tao of Leadership, which recognizes that true leadership is defined not by control but by guidance, empathy, and a commitment to uplifting others.
Technology further complicates this divide. As AI and automation gain traction, we see the emergence of a workforce that no longer fits traditional molds. Algorithms are replacing entry-level corporate jobs, while entire industries are transformed by digital platforms and machine learning. This tech-driven shift is not only creating new jobs but also requiring new skills, particularly in coding, data analytics, and machine operation. Those without access to these new skills, often the economically disadvantaged and undereducated, are at risk of being left behind in an increasingly complex digital economy.
At the same time, these disruptions bring forth a new multiracial coalition that represents those who feel disenfranchised by traditional pathways to success. This coalition is diverse not only in its ethnic makeup but in its shared experiences of economic struggle and disillusionment with the corporate and educated elite. These communities are bound by common grievances: the inaccessibility of homeownership, limited access to quality healthcare, and minimal prospects for upward mobility. It is no surprise that they make up a vocal and decisive majority.
If we, as the outliers, are to play a meaningful role in addressing this new reality, it begins with empathy and a reevaluation of our place within the social fabric. We need to move beyond policies and systems that prioritize economic wealth over social good and start investing in a workforce that includes all individuals. The Tao of Leadership speaks to the need for adaptability, harmony, and foresight -- qualities that can guide us as we work to close these widening gaps.
To effectively lead in this new era, we must actively engage with the issues facing this new majority. We must advocate for policies that address the real economic barriers facing today’s younger generations. This includes championing affordable education, rethinking wage structures, and supporting legislation that empowers all workers to thrive, not merely survive. And as technology continues to reshape industries, we must promote access to skill-building programs and career development resources that allow workers to adapt and succeed in an ever-evolving job market.
Ultimately, this new era of leadership requires a paradigm shift in which privilege is recognized not as a status to protect but as a responsibility to leverage for the greater good. It’s time to accept that we are the outliers, no longer representative of the majority experience, and begin to shape a future that respects the contributions, needs, and potential of every American, not just the elite. Only then can we truly bridge the gaps that divide us, honor the aspirations of the new majority, and fulfill the promise of a leadership that harmonizes technological innovation with the deep-seated values of empathy, equity, and integrity.