All the parents I know who are trying to be friends with their children seem to be suffering from some kind of Peter Pan syndrome where they don't want to fully grow up themselves. I bet if you ask most teenagers they would prefer not hanging out with their parents, but would never tell them that. When I was a teenager, it wouldn't have mattered how nice or cool my mom was, I still didn't want her to hang out with me and my friends. Children need space to be themselves without having to worry about their parents fears of getting old and not being cool in the eyes of younger people.