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We Will Pay for Nothing, Says Gen Y

If you liked our earlier post on how a fifteen-year-old intern is playing social media oracle to CEOs and investors, than you'll love this video from a conference discussing ways for start-ups to generate revenue. It features a panel of young people discussing how they use media and is moderated by blogger and VC Guy Kawasaki, who ends up spending much of the discussion laughing to keep from crying as the kids sweetly tell him they're willing to pay for absolutely nothing and completely ignore all advertising.

It's one more reminder that youth, and the knowledge of youth culture that comes with it, is actually a valuable asset sought after even by bigwigs like Kawasaki and also an interesting counterpoint to the news that Rupert Murdoch plans to begin charging for content on all his new sites. Skip to minute six to avoid housekeeping announcements and sponsors: