Innovation for Hong Kong's Upward Social Mobility

32 4.2 Portraits of Millennials 4.2.1 Millennials were born and grew up in the era of digital revolution that began in the 1980s. They have developed into the most educated, diverse, media-baptized and connected generation. They are now shaping the 21st century, and will propel the Fourth Industrial Revolution by sparking the next technological boom73. 4.2.2 According to the survey, most young people are optimistic about the impact of technology and innovation: 78.6% of people believe that technology is “creating jobs” rather than “destroying jobs” (21.4%) 74. 4.2.3 The Third Industrial Revolution has enabled millennials universal access to the Internet, which provides them with a new and decentralized way to express their values, creativity and entrepreneurship. According to the survey, “What are the most important factors contributing to youth empowerment in your country?”, the World Economic Forum (WEF) got the following results (Figure 4.4): Figure 4.4 What are the Most Important Factors Contributing to Youth Empowerment in Your Country? (N = 22,493) 75 73 Rocky Scopelliti (2018) Youthquake 4.0: A Whole Generation and The New Industrial Revolution, Marshall Cavendish Business 74 QRIUS This is what millennials want in 2018 Accessed on 06/10/2020 75 Source from the World Economic Forum Start-up ecosystem & entrepreneurship Access to the Internet Free media / social media Fairness and just system Transparency in governance Opportunities in politics 40% 39.6% 39.2% 28.2% 21.8% 20.6% Data source: World Economic Forum 4 Youthquake and Quarter-Life Crisis