The ‘Bank of Mom and Dad’ is booming, why we aren’t ditching our cars, and more top insights

During the week, the Daily Rundown brings you the day’s trending professional news. On the weekend, we try to keep you current on the big ideas that can help you see what’s coming. Read on and join the conversation.

The 'Bank of Mom and Dad' is booming: Young workers are increasingly leaning on their parents to cover tuition, housing costs and even household expenses. While most Americans believe young people should achieve financial independence by age 22, that’s hardly the reality, according to Pew’s new analysis of Census Bureau data. Just 24% of young adults were financially independent at 22, down from 32% in 1980. Some 59% of parents of 18- to 29-year-olds also said they provided "at least some financial help" in the past year. • Here’s what people are saying. 

Screen time, not so bad after all? Despite fears that device usage has sparked higher rates of depression and anxiety, new research from Oxford suggests such concerns are unfounded. In fact, researchers from the Oxford Internet Institute found that moderate screen time — up to two hours a day — was associated with positive social effects. One potential reason for the mixed messages about screen time? It’s possible that those who are suffering from mental health issues may gravitate to social media, making device usage an effect or symptom of such conditions, not a cause. • Here’s what people are saying. 

We haven’t given up our cars, yet: Not long ago, many a startup founder and self-proclaimed futurist predicted that personal car ownership would soon go the way of the dodo, in favor of car sharing services and other transport methods. That hasn’t happened, Wired reports. In fact, personal car ownership has increased over the past decade, even in large cities like New York and Chicago. What happened? The recession, and its immediate aftermath, may have initially discouraged people from buying cars. And as millennials enter their parenting years, they may be taking a shine to automobiles. • Here’s what people are saying. 

Saving night-time wind power, for a rainy day: U.K.-based energy firm Highview has begun to convert wind power into freezing liquid, allowing the energy to be stored for when it’s especially needed, during peak usage hours. The wind is compressed and cooled, turning it into frozen liquid. When energy is needed, the system uses the heat generated during the compression process to convert the liquid back into a gas. Highview plans to repurpose a traditional power plant in northern England, where it will be able to offer energy to 25,000 homes. • Here’s what people are saying. 

Putting rats in the driver’s seat, for science: Researchers from the University of Richmond in Virginia have taught lab rats to drive tiny cars, which may ultimately help understand neurodegenerative conditions like Parkinson’s. The vehicle, which was made out of a plastic food container on wheels, contained three copper bars the rats learned to use to move the car forward and steer. The rats’ driving skills improved over time, and driving helped the rodents relax. Rat driving tests may serve as a helpful means to study how Parkinson’s affects motor skills or how depression impacts motivation. • Here’s what people are saying. 

One last idea:  As we make our way through our professional lives, errors are inevitable. But Dick’s Sporting Goods CEO Ed Stack reminds us that missteps can ultimately serve as powerful gifts. • Here’s what people are saying. 

“A regret is something that you wish you could take back. A mistake is something that you did that you learned from, that at the end of the day it helped make you who you are today. I’ve made a lot of mistakes. I don’t have a lot of regrets.”

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— Scott Olster