Wireless Investors

Abstract

This paper explains how new generations of investors, specifically Millennials and GenZ’ers, adopt a YOLO attitude to causing social and environmental change. They know that they can make an impact on the Planet and on the life of people. They know that they can achieve that only if they act collectively, not as stand-alone individuals. They know how to coordinate their collective action online. These new generations of investors are aware of the benefits and the risks that the corporate sector generates. They are aware of the power of business corporations. They are increasingly aware that they can leverage on the corporate sector and on the power of business corporations to bring change in society and protect the planet. Millennials and GenZ’ers know that they only have one life span to make change happen. This paper discusses how Millennials and GenZ’ers can accomplish their goal and cause a social norm shift with respect to investing and corporate governance.

Keywords: retail investors, Millennials, GenZ, social norms, corporate governance, ESG, investing, YOLO, corporate purpose, stakeholders

JEL Classification: K2, K20, K22