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The video discusses how the idea of generations is nothing new, and how the term "millennials" was coined and has become popular. It cites Douglas Coupland's book "Generation X", which popularized the idea of a new generation of people who grew up during the 1990s. The presenters note that there are many different names for this generation, and that those who invent them often make money. In the video, Adam Conover argues that thinking about generations in a reductive and condescending way is historically reductive and has always been done to the people being described.
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