Juul Memes Don’t Mean Gen Z Is Financially Irresponsible
Young consumers have been joking on social media about lawsuit payouts, but this generation cares a lot about their personal finances.
Source of a windfall.
Photographer: Patrick T. Fallon/AFP/Getty Images
Juul users are suddenly coming into an unexpected windfall thanks to the $300 million class-action settlement against the e-cigarette maker. Part of the lawsuit alleged Juul Labs Inc. marketed to minors, consumers who are now largely young adults we know as Gen Z.
More than 800,000 claims have been approved, with payouts ranging in the hundreds to thousands of dollars. For many Gen Zers, it’s probably the first time they have ever received a lump sum of cash outside of a tax refund. Most are too young to have gotten a stimulus check during the Covid-19 pandemic.