Millenials in no way will wipe out the stock market as we know it. These are fad based companies that come and go. Example: Bitcoin. Many people made a fortune and then poof they were gone. These companies cannot sustain a regular stream like our current stock market can. Sorry Millenials, I say no go!
No, Millenials are not going to make the stock market obsolete, because the stock market is the way that we trade wealth and build wealth. We still need some kind of financial medium to value stocks and trade interests in the stocks. Millenials have not rejected capitalism, so they will continue to embrace the stock market in some form.
Millenials making the stock market obsolete? That's actual a reasonable worry. For a moment anyway. As is the nature of the financial world, and the world in general, the stock market will adapt to the situation and life will continue right along. Especially for the millenials. Nothing will make the stock market obsolete.
The millenials will start investing once they feel like they have job security. The will want the growth of the stock market once they start thinking about retirement, unfortunately most are only currently worried about their student loans. In order for them to participate they have to get ou from under their debt.
Thank you MoneyCNN for taking the time to create a question whose answer is self-evident—it must have taken much time and effort to design a question so meaningless that only my comment stating its meaninglessness poses a challenge to the original meaninglessness. No, the millennial generations will not make the stock market obsolete. The stock market has attempted suicide, taken direct gunshots to the head on several occasions, and managed to rebound like the restless, un-killable zombie it is. Long live the monster! Thank the Lord, Satan; may he continue to bless the earth with his greatest creation.