I kind of resent the idea that just because someone is young they don't know what any of these things are. I'm in my twenties and while I have my computer, my smartphone and my digital music, I know what a phone booth is, I know what a record is and I've never met anyone, my age or younger, who was confused by analog clocks. Just because something is no longer in general use doesn't mean it immediately slips into oblivion.
I wouldn't say I resent it, but I do find the idea confusing. I'm 24, and I've definitely seen a phone booth. I grew up with land line phones (and still use them as much, if not more than my cell). I grew up with analog watches, and I still own some. I still talk about "hanging up" and "dialing" phones.
Even though technology has changed a lot, I have a hard time imagining that many young adults today have literally grown up without coming across any examples of technology that was common ten or twenty years ago.
In any case, I think slang can still work even if what it originally referred to is obsolete. There are a ton of examples of slang words that now mean something very different than what they meant originally.
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