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Gen Z is willing to spend big to find friends. That's bullish for Eventbrite $EB
Right now, we're witnessing a growing number of Gen Zers graduate college and enter the workforce. Seeing what the early cohorts of Gen Z are doing with their hard earned money is interesting. According to a BusinessInsider article, they're splurging on social activities.

I was surprised to read that there are members of Gen Z that would spend $500/month on social activities to find friends. One of the people interviewed for the article, Lynette Ban, admitted to it when being interviewed for the article. Other members of Gen Z are taking memberships at rock climbing gyms, martial arts studios, and take art classes to find friends. When taking everything together, Gen Z is clearly spending more on social activities than pre-pandemic.

As much as we think that they may be over the top with their spending for social activities and should instead focus on building their financial foundation, the people interviewed in the article said that they do have some financial anxiety but believe that the money they spend on social activities are worth it. Especially if these people work remote jobs, the need for finding events after work to gain social interactions is bigger than if they were working in the office.

When reading the article, I couldn't help but think of how bullish this is for Eventbrite $EB, a former unicorn startup. Eventbrite is many people's go-to app for finding events near their area. As much as we'd like them to be used for selling and distributing Taylor Swift concert tickets, Eventbrite is focusing more on local events and on empowering small event creators. With more people willing to splurge on social activities, I can see more paid tickets being sold on the platform, which would mean more transaction revenue for Eventbrite.

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