Most sources consider the Millennial Generation to include people born in 1982 or after—that is to say, anyone who was still a child on Jan. 1, 2000. They are also referred to as Generation Y (i.e. the generation that followed after Generation X, which in turn followed after the Baby Boomers). There’s an even newer generation now that are still kids. They are often referred to as Generation Z or the Internet Generation.
These newer names may not be perfect, but at least they are less subjective than “The Lost Generation” and “The Greatest Generation” (WWI & WWII respectively).
In the end, X, Y, Z, names make more sense than the arbitrary definition of the “Millennials”