Ever since Canadian rapper Drake coined the phrase YOLO (“you only live once”) a decade ago. It’s become the battle cry of many young risk-takers when rationalising a move that others might consider rash.

During the past year and a half, this mantra has evolved into an entire way of life, and we’re even hearing people talk of the “YOLO economy”.

Simply put, this phenomenon refers to an increased willingness among those in their late 20s and early 30s to shun their well-paid but soul-sucking professions and start following their hearts.

It could be as simple as taking a step down the career ladder in exchange for more time with loved ones or as extreme as quitting their job outright to start a business or focus on a passion project.

So, what’s the YOLO economy all about?

The implications of this new economic outlook are far-reaching and likely to continue long after we return to the ‘old normal’.

As more and more…

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