A generation can refer to a group of people who live at the same time and are about the same age. But generation is also the act of creating something, such as income, ideas or kids.
In 1965, Pete Townsend, the guitarist of The Who, wrote a song called "My Generation." The Who, Jefferson Airplane, Jimi Hendrix and other popular musicians of the day were called “the Woodstock Generation,” because they performed at a famous music festival in Woodstock, New York. Generation is used in another way when people credit those bands — along with Elvis, the Beatles and the Rolling Stones — with the generation of rock-and-roll culture.