My first response to this question is to say that it is by recognizing the faults in your own generation that you are most likely to be part of the solution. The fact that you are asking this, rather than simply accepting the values of your peers, suggest, paradoxically, that in fact by your very ability to see the problems with your peers, instead of just thinking what is currently trendy is good and everything earlier is bad, leads to the possibility that you may become one of the young leaders who can try to make things better by avoiding egotism and the cult of the new.
I would say that each period has different problems – and that individuals born at the same time differ greatly, some sharing in the characteristic faults of their periods and some not. What matters most is that many different voices are heard, rather than people simply falling into accepting whatever the current fashions are. Because mass media does make certain values (especially materialism and selfishness, in the west) so pervasive, working against it will be hard, but, as St. Paul said: 'And let us not be weary in well doing: for in due season we shall reap, if we faint not'.