This is from my personal experience.
Having seen a lot from both generations, I have to side with the Old Generation (OG) and be pretty biased against the New Generation (NG) as a whole. I am part of the NG, but I cannot get with the majority.
My reasons and experiences with the OG have always been great, they have some great stories and viewpoints of things. Their moral ethics are pretty high up and my parents raised me with such ethics. Sure, when I was young, I wanted to be a rebel. But I had too big of a conscience to start breaking rules, thanks to my parents. Sure, the OG people might be a bit biased or racist due to their own personal experiences, but who doesn't?
As for the NG, it has been mostly negative as a whole. Only my closest of friends are the only people I can have a great time with. But without them, I would be extremely biased against them. But it might because I have been exposed to the wrong people. I know people who go to parties on a weekly basis and go to drink, stay up to the early hours of the morning and do other ridiculous things such as take a trip to a place that is three ours away and come back at around 7 am without sleep. Along with some "golden" lines and questions. Such as: "Hey man, do you drink any beer at all?" "Nope, sorry, I don't like that stuff." "You're stupid man! That's what makes you a man!" and "A beer a day keeps the doctor away."
One of their worst traits is looking up to the wrong people or just to look cool, such as people wearing Che Guevara t-shirts yet having no idea who he really was, people supporting political ideas such as Communism and not having any stable argument or stable idea on why they like it. It is as if they have to be on top and everyone on the bottom or else they dislike the world. Acting like a professional or philosopher, yet some of the people I have come across just go on Facebook, steal quotes from other famous people and they get credit for making them, because their pals don't know where the quote, line or lyrics came from.
I know I'm being pretty biased, but that is what I'm surrounded by, however, I do know that there are diamonds in the rough around the world and I just have to find them.