“In Silicon Valley, failure is considered valuable experience, but here it’s a shame,” says Domas Urniežius, one of the founders of GrowTech. According to him, Lithuania has a cautious approach to business, which is why most startups never grow into global players. This is one reason why Lithuania lacks a true startup ecosystem.

For Generation Z, Urniežius explains, the most important thing is not to have but to be – pursuing quality of life, flexibility, and the freedom to choose. Ownership is not their ultimate goal; it is a tool that allows them to live life on their own terms.

Technology also shapes this mindset. This generation grew up in a world where the internet allows them to work from anywhere, and artificial intelligence is already reshaping the rules of the job market. The lifestyle of digital nomads, the sharing economy, and decentralized financial systems – all of these are natural parts of life for Generation Z.

How can older generations, raised during the Soviet era with a strong sense of ambition and values, understand Generation Z? What are the key traits of this generation? Find out in the Beyond Economics and Back podcast with LFMI President Elena Leontjeva.