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GOLD GO TO COLLEGE... A little Rant.

Discussion in 'Lessons from Success/Failure' started by JackEdwards, Aug 21, 2012.

  1. AlessioLC
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    AlessioLC Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Of course it will always be the plan, it's a necessity to work for yourself, but there's a chance you can't get a job anywhere else than a fastfood/night job for the rest of your life and this kind of job (salary) don't allow you to start a business.

    But if you look at those who went to college / private school, they'll end up with something at least acceptable if they fail at a business, because they got the certificate which says that this guy went to X school and know how to do Y things..me, i got nothing but my work ethic and knowledge.
     
  2. mcastillo
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    mcastillo Bronze Contributor Read Millionaire Fastlane FASTLANE INSIDER Speedway Pass

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    Sometimes that's the risk you'll have to take... Nothing's wrong with college. Many people do it, but experience trumps formal education. If you fail at a business and want to get a management position at some company for the time being? That's definitely possible. You have experience of running a whole company yet alone managing a few people. You just have to find the right job.
     
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  3. ThirtyOne
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    I don't think any real entrepreneurs give any credence to your last statement.
     
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  4. AlessioLC
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    AlessioLC Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    It's the truth, let's say you work for Mcdonalds because you've failed your last venture and you want to get a job at a Real Estate agency and become a broker, even if you've read a lot of books and knows the law and everything, the guy will always ask for experience and diploma because he don't want to lose time and money on someone who has never sell any RE . (Can be different in the US, but in France if you don't have experience/diploma = no job ; even if you can sell your skill to the person in front of you)
     
    Last edited: Nov 15, 2017
  5. ThirtyOne
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    Line upon line, my friend. Of course it's hard to go from fry cook to RE broker.

    But you could go from fry-cook to top employee for coming up with creative ways to bring business into your McDonald's store. Or you could be working on providing value/bootstrapping after hours until you have some legitimacy as a broker/salesman.

    There's many roads to a goal. Entreps are creative and make it work.
     
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  6. AlessioLC
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    True..
     
  7. Salama2017
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    Salama2017 New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    I totally agree. A college degree is some sort of insurance for the future. I have a Masters degree in Global Development. I studied for this degree after a wealthy family friend told me to get an education before going into business. His reasoning was that anyone can start a business at any age. However, not everyone can go to school at any age.
     
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  8. SquatchMan
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    SquatchMan Silver Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    You don't need a high salary to start a business.
     
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  9. AlessioLC
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    Actually it depend on what you want to start, i'm myself in the process of building a new concept in the coffee industry (also have different ideas in the food/restaurant field), a B&M business investment in my case is about 280k euros, so yes you need a high salary. (Which i actually don't have, it's my parents money from an investment)

    I could also build different online businesses, but for the moment i don't see what i can do there, i keep searching.
     
  10. Ninjakid
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    I reject the idea that you should spend these four years just having and enjoying your youth, and get into the "real world" after. What if you fuck up and those four years aren't how you would have liked? Did you blow your only chance? Will you never get another shot?

    I'm more of a "engineer your life the way you want, and live that every day" kinda guy. If you do choose to go to post-secondary, what yuo do should be a reflection of your true character.
     
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  11. Arun Siva
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    There is nothing wrong with college..... yea right.. overinflated tomfoolery and perpetuated groupthink from socialists and capitalist haters.... and then x y z reasons why us students aren’t going into STEM programmes... because the STEM teachers are all from overseas and are incomprehensible!!!! THe so called colleges are ran like any manufacturing sweatshop were the cheapest labour (non adjunct faculty) are also outsourced from overseas!

    So what you are left with is blatant expenditures for something that will take you either years to pay off and years of monotonous servitude at some job (if you dont study a STEM subject)....

    College isn’t the only option luckily nowadays.... Trades are in fact coming back... Trade school is really cheap and affordable and one can fall back to the trades almost always. (Yea it may not be cushy or dream work but its manageable and low risk)
     
  12. cmor16
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    College, or education in general, should not be a back up plan.

    Example: Don't go to college for mechanical engineering so you have an option if your business, which has no relation to mechanical engineering, fails. Go to college so you can learn mechanical engineering. If you have the entrepreneurial spirit, you'll quickly see many problems to be solved in the industry and leverage your education.

    Learn what needs to be learned and consider the cost and potential benefits of that education.
     
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  13. Daniel A
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    Last edited: Dec 5, 2017
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    I think it depends. My nephew is going to a fairly respectable religious college working on his Kinesiology degree, heading toward a career in Physical Therapy. The career has good prospects and with his high grades and rough financial situation he pretty much has a full ride. In that case I would say it is a good thing to do.

    But I wouldn’t recommend he take out huge loans to pursue a degree in underwater basket weaving at community college. It’s all about how good of a deal a particular college education is for a certain individual.
     
    Last edited: Dec 5, 2017
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  15. ZF Lee
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    I forgot to mention this fact based on my past pre-university course.

    A month ago, I was finishing Australian Matriculation, and there was this kind of (unintended?) sentiment that kids don't like STEM subjects.

    In a preliminary briefing, the lecturer told us that if we chose science-themed subjects like Chemistry or Math Methods, we would get like 10% extra marks from their individual scores added to the overall grading.

    Not very much, but it does make things VERY different.

    I never heard of such a scheme in other courses....but I checked the mainstream Australian scorers, and most of them took arts subjects. So I suppose that probably the type of field of degrees can be a good entry barrier, but of course things can be overridden, as you have mentioned with outsourcing.

    On the quality of lecturers, some of them are there because they couldn't find jobs in the industry. My brother who is in A levels had some biochemistry teachers who got washed out by lack of demand for the field in my country. Such lecturers can meet the needs of kids who just want book knowledge, but for us who want life-changing education, that frees us in terms of opportunity, that might become lacking.

    But I found I learned more with my STEM subjects ( I had some maths and chemistry for college...I replaced physics with economics) by myself, assessing and analysing with my own decision-making. At best, my teachers gave the tips on 'best practices', so to speak. I took what I needed.

    My chemistry teacher was a nerd who rambled quite a bit. Had to stop him at times to digest stuff.

    But one day he talked a bit on the industrial usage of certain polymers to cover up IC chips so that rival companies couldn't break into them in their gadgets to steal the design.

    I thought about stuff like how to make the polymer composition stronger, more affordable, or if something else can be used to replace the polymer....and poof, a Fastlane opportunity presented itself?

    So yes, not everything is totally bad in college.

    Don't hate on college. In whatever I did, I worked hard to think 'process' as Fastlane demanded, and it was a lot more peaceful and productive than hate.
     
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  16. Arun Siva
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    I can tell you based on numerous STEM students at the universities I attended (3) that over 90% of the professors werent worth a damn in terms of COMPREHENSIBILITY>

    They TOEFL test is a farce and a joke IMHO.

    There are teachers that teach STEM subjects (i.e Leonard Susskind, Richard Feynman etc) and then there are teachers that "teach" (meaning, they are just there to teach because they have to and only care about their research and stresses for maybe becoming tenured)

    Something needs to be done.... Khan academy helps a little bit but still why pay outrageous $$'s when you could sit at home and learn? I think online degree programs are going to be a big thing in the future as home-schooling is becoming a more favored option in many states now.... Online degrees are much cheaper too (hundreds less per credit hour)
     
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  17. Christian949
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    Currently studying finance major and I will definitely say this is a ticket to the middle class but after I graduate it is all on me from there how I want to build my life. Currently working on few websites and been getting some great traffic and feedback, nothing feels better than this its like a baby.
     
  18. ZF Lee
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    I was advised to take TOEFL for overseas studies.

    They said that my high school English wasn't gonna make the cut although I had no problem with the language.

    Then I realised I didn't need a TOEFL to talk to entrepreneurs, business people and millionaires here and in many other places....

    I gave TOEFL a pass...

    That being said, if your stats on the STEM students are really true, then there are really no green pastures.
     
    Last edited: Dec 7, 2017
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  19. socaldude
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    What a shitty video.

    This guy basically says the only option you have in becoming rich is amassing 6 figures in debt and learning outdated material.

    And then hopping that the job market will give you a good paying job.

    All things equal
    somebody with no debt and a desire to learn and create value will beat anybody who spends 4 years learning outdated material and having 6 figures of debt and sending thousands of resumes on indeed.

    The problem with the college statistics these idiots always throw around is exactly that. They never differentiate variables and never distinguish between correlation and causation.

    I have always hated how intellectually arrogant academia is. As if they know and understand things that others don't and you gotta be a student to know what they know.

    Why anybody would listen to this idiot is beyond me.

    Wheras when peter thiel talks about college his reasoning is way more convincing than this guy. I wonder why? Hmm...
     
  20. JByers210
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    Just read this and checked out your profile. Were those 5 years of college and 40K you got in loans worth it? Did you hit your goal you set for the yourself once you turned 25? I'm not sure that all the guys preaching "Gary Vaynerchuck sh*t" and building businesses instead of being in classes are unhappy and full of regret. Obviously there's more factors involved though like whether they dropped to actually work or just to be lazy.
     
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    I'm looking to get into ecommerce and I currently am in the phase of product research. Needless to say, I only needed a couple hundred dollars to get started and create/register my business. When I find a product worth selling it might cost me a couple thousand. The tuition has got to be around 5000 a semester for my local community college. Living with my parents and working retail, I can save enough money up on my own so that I could have 4 failed attempts at private labeling in a year and still be able to pay off all of my expenses! One semester of tuition itself could be worth 2 failed attempts at private labeling.

    You know what college is to me? Procrastination. If I go to college that's four years of an excuse for me not to take action.
     
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  22. mike24601
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    I completed my bachelor's degree in 2.5 years in the top 10% of my class. Even though it was paid for I recognized that time is valuable and decided not to drag things out unnecessarily. Glad I went, I was really happy there. I guess it all comes down to value. Had I gone into debt to have the same experience I don't think I would have found it valuable.
     
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    Get your real estate license via classes and test and you will have a spot with a local broker in minutes.

    For your overall point, the world is changing. We employers are beginning to care more about 'whether you can do the job' vs what piece of paper you have.
     
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  24. Daniel A
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    I know I posted here without writing anything other than what you quoted me on (so you were left to assumptions), but my intended viewer of the video was a member of the forum or maybe a lurker who is in a similar position as myself when it comes to college. In a situation where going into debt would be avoided. I took a break from college, joined the forum, and went back to college. I read and watched what was posted on the forum about college at the time, and I wanted to add that video to this thread for people like that. I posted that I'd wait until graduation to share my thoughts and experiences about college. However, I decided to still leave the details for later, but share my recommendation (for the people who could somehow avoid going into debt). Make the most of your time in college. So yes go to college if you're in the situation where you won't get into debt, and you're an entrepreneurial member of this forum with a desire to grow personally and learn as much as possible (which will be more difficult later in life because of added responsibilities).

    Here's my recommendation for those people:

    Winter Break: Learn as much as you can via books, audiobooks, self-study courses, etc.

    Spring Semester: Learn as much as you can in class. Engage yourself in class, in your studies and socially via organizations. Have fun on your spring break!

    Summer Break: Apply what you've learned via a full-time paid internship/job at a company that's relevant to your professional interests.

    Fall Semester: Learn as much as you can in class. Engage yourself in class, in your studies and socially via organizations. See your family on fall break!

    Repeat.

    At some point, that person (a teenager or someone in their twenties) should be ready to start a venture of their own, but I doubt it'd be right away. A 'hybrid' or someone who's a member of the forum and graduates college debt free is in a great position. They are also to have likely had some great experiences and connections with great people (including professors/faculty and staff). Especially if they made sure to maximize the benefit they get from college right from the start via a longterm fastlane outlook.

    Would a person like that in that situation change what you said before?

    I've listened/watched a lot of his videos on this topic. I agree with a lot of what he says. I mean all I previously posted was a timestamp and stated that I'd be interested in the results of a study like that. Who wouldn't be? So a lot was left to assumption.
     
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  25. Daniel A
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