With the markets in turmoil, it’s easy to think that the sky is falling. For many, jobs are being lost, retirement plans postponed, and savings and investment values plummeting like lead balloons. All this unrest is yielding one very positive result – the growing interest and understanding about the financial system by very young people in this country.
Slate.com, the witty if conceited and sometimes down-right nasty, has launched a new site to cater to the Facebook set interested in keeping up with the business news of the day, provided its packaged up in their language. The Big Money is a bit short on slick design, though the content is intriguing. They’re covering all the major topics like the collapse of Lehman Brothers and the purchase of Merrill Lynch by Bank of America, with some other interesting, timely, and generation X- and Y-targeted info like a socially responsible investing guide.
Viewed side by side with publications such as The Wall Street Journal and the Financial Times, The Big Money clearly goes after breadth over depth, though if they’re trying to attract younger generations this is the path of least resistance – give them a surface understanding and allow them to dig in deeper where they deem necessary and interesting. Don’t overwhelm them because they’ll tune you out, and give them just enough information to be conversant around the office about today’s top stories. The goal is to raise their awareness of the financial shifts happening today that are sure to have huge impacts on their lives for decades to come.
The Big Money is a publication that has clearly done its homework, knows its customer, and knows who they are, and more importantly who they aren’t. No brand can, or should, be all things to all people. The Big Money seeks to turn this latest economic downturn into a learning opportunity for very young adults that will build their lifelong interest in their financial well-being. If that's the case, then mission accomplished.