Except that the older generation doesn't deny the fact that Millennials are smart, clever or innovative. That's never been the problem. On the contrary, they work hard to exploit those traits and take advantage. On the other hand, millennials undervalue or even completely ignore life experience (aka, wisdom). They incorrectly believe that intelligence is wisdom, or that intelligence can overcome a lack of wisdom. That's far from true as people will learn the hard way. Wisdom and life experience is something that only comes with age, and is why you always hear the phrase "respect your elders". You're being asked to respect wisdom itself.

Let me ask HN a question; when you were 20, did you think you were smarter/wiser than when you were 10? How about when you were 25? Did you think you were wiser than your 15 year-old self? Those of us that hit or broke 30 think we are miles and miles smarter/wiser than our 20 year old selves in exactly the same way we were smarter/wiser than our 10 year old selves when we were 20. That increase in wisdom/life experience does not stop when you hit some magic age. Sure, you may stop growing maturity wise, but you never stop learning. At least I haven't yet, and I'm approaching 40. I look back at my 30 year old self and laugh because I was a complete moron who thought he was starting to finally figure some things out. Nope. Not even close. Still not close yet but I finally understand that you will never have anything figured out.

Millennials take that life experience for granted because they don't have enough yet to even know what it is.