90s kid here. i dont get it.
The one person was born in 2000 and the other person complains about how young they are. It turns out that the complainer was born in 1999, and therefore is only a year older. Thus making the complaint a bit silly.
I thought the joke was they were both both before the start of the new millennium. Awful lot of people started counting with 0 instead of 1 in 2000.