The real startup story is quietly happening elsewhere: trillions of dollars of wealth are slowly being transferred to a younger generation by boomers selling their businesses to those looking to build their own.

What?!

That's not transferring wealth to a younger generation, it's transferring wealth to the boomers in exchange for businesses that are likely going to fail, plus some to lenders for the interest. Regardless of who buys it, they have to pay sky high interest, if they can't the bank gets it.

And at least in my city, it's mostly people who worked for the boomer, didn't understand the legal parts, and got hosed.

We just had a guy pay 1.5 million for a failing restaurant without having a lawyer look at it because the seller was a "mentor".

There was a stipulation in there that it was just for the name and lease. The boomer didn't even own the property, even though he had been telling people he owned it for over a decade.

Dude thought he was buying a restaurant and the property. The boomer sold all the equipment and moved to Florida.

Boomers are selling at a furious pace and they’re just getting started.

My money is on Boomers selling to funds if the business is viable, or Millenials if the business is failing.

Where are the Millennials coming up with the money? Putting the houses they don't own up as collateral?

That's not handing anything over. They're going for one last big payout after a lifetime of exploitation.

They have their real estate portfolio that they rent at exorbitant prices, or sell at massive mark ups because they got into the market at sane levels and contributed to the feeding frenzy that has led to today's unaffordable housing.

They strung their employees on, taking the increased profits from inflation without paying their employees enough to keep up.

And now they're selling their small businesses to those same employees at prices that practically guarantee they will be unable to keep up. Because even though they have all the wealth that they've accumulated from a life of exploitation, they deserve to ride off into the sunset with a saddlebag stuffed with gold.

sucks to be GenX in that case

The Guardian apparently does not know that selling something is not simply handing it over.

The other generations will get so sick of millenials - the last of the large generational voting blocks.

We're just at the beginning of their reign.

K