Monsterfurby said:
Shouldn't that be Generation Z already? Millenials (GenY) didn't grow up with Hannah Montana and stuff. Millenials/Ys are the Sarcastic Brony generation. GenZ is the "raised by Facebook and Disney DVDs" generation.
"Generations" are really just crude generalizations of social trends. I mean, depending on who you ask generation X can cover anyone born from the mid-to-late 60s up to the end of the 20th century. It's not so much a literal generation as a simplified description of social and cultural trends. The defining feature is not so much a particular pop-culture niche but overall attitude. Drawing on the Strauss-Howe model a bit here, but:
The baby-boomers sought to separate themselves from the second world war and were thus marked by trends like social activism, political engagement and participation in the counterculture.
Generation X grew up during the counterculture, when society and its institutions were being openly questioned. Thus, they were marked by deep uncertainty, political apathy and lack of social engagement.
Generation Y (millennials) grew up long after the idealism of the counterculture had run its course and when the world was becoming increasing pragmatic and aspiration had largely replaced idealism. They are marked by high expectations, personal confidence, and social optimism.
Generation Z
has been theorized, but they aren't really a social force yet. That would cover people who grew up surrounded by concerns over the current economic crisis, the war on terror and so forth. Going by the Strauss-Howe model, they are likely to emerge as quiet conformists with a strong sense of social rather than individual identity (much like the Silent Generation who were born and grew up in the inter-war years).
The idea here is that each generation's values will tend to be a reaction to the values of those which are currently socially dominant (i.e. possessed by the previous generation or two).
It's an interesting system, but I wouldn't take it too seriously.