While not an actual teenager, I am an actual first-time investor, and I think your theory is right on the money. (Ha.)
I invested in the traditional market for one quarter last year, and the returns were incredibly underwhelming -- in a supposedly booming 4th Q! That along with other factors made me transition to crypto.

I really wish I would have found your channel 2 months ago. X) But I'm subscribed now, so will be following along with your great content.

I just want to mention another factor in regard as to why millenials are not saving money. Yes, they were burned by the 2008 crash, but I think even more than that, it's because there's a weird taboo against money in the US.

Or I should say, talking about money. Which is crazy, right? This is America! We're all about the capitalism and business and living the dream! But I think that's limited to the financial sector. In other walks of life, in my experience, people are extremely uncomfortable discussing their finances. They're uncomfortable discussing salaries. They're definitely uncomfortable discussing savings -- or lack thereof. And they're uncomfortable discussing investing because they don't know anything about it.

This part is absolutely outrageous to me - nobody teaches kids how to save, and by extension how to invest. I went through 4 years of high school and 4 years of college in this country, and not once was the subject of investing brought to my attention. Oh, there's plenty of rhetoric thrown about how we should save for the future, but nobody actually teaches us how to do it.

If your parents don't teach you (mine didn't, cause they don't know themselves), and if you don't have active interest in finances (I sure didn't), then you're kinda SOL. The educational system releases you into the world with absolutely no financial skills. From what I can see, investing is the only way you can possibly save up the millions needed for retirement. You'd think someone would think it's important to teach people how to actually do that, right?

Oh, but that's right. We don't talk about money in our society. That's private.

Oof. Got a little rant-y, but thanks for letting me put my thoughts to paper. Again, I totally agree with your point, as interest in cryptocurrency is what inspired me to get a crash course education in investing. Hopefully I'm gonna come out of it with a sweet stash of bitcoin and an immunity to any kind of volatility. LOL

(And maybe get rid of those bags. We'll see. XD)