The people, companies and trends shaping the global economy. Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Young Americans are reacting to economic pressure by building their own businesses and creating multiple income streams, with some investing in speculative investments or obsessively saving for retirement. Micah Stanley, a 24-year-old who never finished high school, has built a successful business with vending machines that dispense flavored vape pens and nicotine pouches, and now drives a Lamborghini and coaches others on how to start their own vending machine businesses. Gen Z is increasingly turning to entrepreneurship as a way to build wealth, with applications to form new businesses increasing by 66% in the past year, and many younger people saying they want to be their own boss and have multiple sources of income to achieve financial security.

For more, Carol Massar and Tim Stenovec speak with Redd Brown, Bloomberg News Consumer Reporter