Millennials and Tech Giants Survey Part 2 - Tech, Society & Regulation
There are two important facts about the Millennial Generation (those born between 1980 and 2000).
- Millennials will outpace every other generation in spending power by 2018.
- The Millennial Generation will also wield significant political sway as they become the largest voting bloc in the United States.
That is why what the Millennial Generation thinks matters. With recent headlines highlighting scandal and potential regulatory challenges for tech giants, just what are Millennials thinking? In part 2 of our survey we look at what Millennials think about the relationship between big tech brands, society and government.
Q. Do you believe that executives at tech companies are more concerned with doing the right thing for society or making a profit for shareholders?
While respondents reported positive sentiment toward big tech brands, over half believe that when it comes down to a choice between doing the right thing for society and making a profit for investors, tech executives will pick profits.
Q. Do you believe that tech companies should be more regulated or less regulated by the government?
Just under half of respondents believe that tech companies should be either much more regulated or more regulated, while just under a third believe that the current level of regulation is sufficient and just under 15% feel that tech companies should be regulated less.
Millennials report healthy skepticism when it comes to tech companies and their position in society.
Despite a majority of respondents reporting that government regulation of tech companies is either sufficient as is or less regulation is required, two thirds of respondents agree with the statement that tech companies have too much power in American society.
There's more disagreement amongst respondents when asked whether tech companies will do the right thing for American society if left to their own devices. A plurality of respondents do not believe tech companies will do the right thing for American society if left alone.
- Tech companies enjoy positive sentiment amongst Millennials, but it is far from unconditional.
- Tech startups have garnered an image as scrappy underdogs in some cases, but Millennials recognize that the big tech brands are big businesses that need to answer to investors and shareholders.
- Because of this, tech executives need to pay special attention to their reputation both with consumers and regulators. Scandals and tone-deaf attempts to communicate through challenges threaten reputation.
View the Millennials and Tech Giants Survey Part I Below
About the Survey
Publitics surveyed 400 U.S. Millennials through online opt-in surveys. Care was taken to ensure that the sample was demographically balanced during data collection.