Where Did All the Veterans Go?

With Veterans Day upon us, I’ve had some thoughts. Maybe they provide some insight into the shifting cultural fabric of the United States—or maybe not. Either way, I found the data compelling.

On Memorial Day earlier this year, I attended a ceremony held by the local legion post in my hometown. It’s a tradition I've participated in since I was a kid, typically involving a small parade with the local volunteer fire company, gun salute, a moment of silence, and veterans from the local legion post paying their respects. But this time, something was different. Fewer than ten veterans were present. The parade, usually a fixture of the event, was canceled because the few veterans who were able to attend either couldn’t—or chose not to—walk the short parade route.

Local Legion Post Memorial Day Service. 

Seeing the dwindling number of attendees led me to wonder, "Where did all the veterans go?" This legion post was mostly veterans from World War II, Vietnam, and the Korean War. And it appeared there was almost no participation from younger veterans of Desert Storm, Afghanistan, or Iraq. So my curiosity got the best of me and I started to google the data to figure out what was going on.

According to PEW Research in November 2023, there are 18 million living veterans in the United States. In 1980, about 18% of U.S. adults were veterans, while today veterans represent about 6% of the country’s adult population.

In 2024, the veteran population has continued to decline. Veterans of the Gulf War era now represent the largest living segment of veterans, while the numbers from earlier conflicts are rapidly decreasing. Only around 100,000 World War II veterans remain, representing less than 1% of the current veteran population. The Department of Veterans Affairs estimates that the number of veterans will drop from today’s 18.3 million to 12.1 million in 2048 – a decrease of about 34%.

Interestingly, the decrease in veterans is also mirrored in our government. The percentage of congressional members who have served in the military is at a historic low, with only 18% of representatives and 17% of senators having military experience. This is a dramatic change from just a few decades ago, when more than three-quarters of Congress had worn the uniform.

I can’t help but feel that the steady decline in the veteran population reflects a larger cultural shift in America. The experiences of older generations—those who lived through the world wars or came of age during the draft—are no longer shared by the majority. Fewer families have a direct connection to military service, which can affect our collective understanding of the sacrifices made and the experiences lived by those who have served.

Supporting Veterans in New Ways:

Despite these shifts, I am encouraged by innovative ways to support and engage with the veteran community, like The Veteran Fund. This venture capital fund invests in military veterans starting companies, creating pathways for veterans to make impactful contributions outside of military service. At Finta, we recently hosted a panel as part of LA Tech Week, where David Kervin‍, a Venture Fund portfolio company joined us. David is the veteran founder of Proteus Space, which is revolutionizing satellite design with AI-driven platforms to reduce the time and cost of deploying satellites through automation and cutting-edge technology. You can take a listen to the event here.

a16z has also raised a fund supporting what a thesis they have coined as “American Dynamism”, which invests in founders and companies that support the national interest. Believing that mission-driven and civic-minded founders often build companies that transcend verticals and business models in their quest to solve important national problems.

Organizations like these help preserve the resilience, ingenuity, and dedication that veterans bring to our society.

I want to be clear: this reflection is not about advocating for war. I’m sensitive to the global conflicts that continue to impact people’s lives, often in devastating ways. Instead, I am simply reflecting on a cultural awareness, noticing that a part of our nation’s past identity might be slowly fading. The decline in the veteran population speaks to a shift away from the collective experience of service that once helped to shape our country. It's a reminder of how fragile and precious the values of service and sacrifice truly are.

This Veterans Day, I want to extend a heartfelt thank you to all veterans. Your service and sacrifice are fundamental parts of our nation’s story. Though the faces of America’s veteran community may be fewer, your contributions endure and continue to shape the lives of many. Thank you for your courage, resilience, and unwavering dedication.