Well, oftentimes Business Education today, and I see it all the time Kids come out of college, the best colleges Wharton and Harvard and Stanford and some of the great business schools and they'll come out and they won't have practical experience. There are too many case studies that aren't practical. You know, we ask kids that are 16 to 18 years old to make,$100,000 debt decisions when they go off to University, and they are not prepared for that. They don't know what they're getting themselves into, they just assume 'Okay, I'm gonna pay four years of education at twenty-five thousand a pop and when I come out the other side somehow I'll be able to pay it back'. That's not how life works anymore. There's no need even to have a college degree At all. We're in high school-, I mean, if somebody graduated from a great university, that may be an indication that they will be capable of great things, but it's not necessarily the case you know if you look at say, people like Bill Gates or Larry Ellison, Steve Jobs these guys didn't graduate from college but if you had a chance to hire them, of course, that would be... a good idea. [laughs] I think having the flexibility to explore a lot of different things which you can do when you're in college which is one of the amazing things about being in college is, you can work on all these hobbies and encode a lot of stuff and try a lot of different things. It's this amazing flexibility.
I think most people take for granted and once you decide, okay, I'm gonna start a company and I'm gonna do it with someone else' you immediately now need to convince someone else if you want to change your mind on something, and I think people undervalue the option value and flexibility. I think to explore what you want to do before committing is like, the key thing and keep yourself flexible., Interviewer: [chuckles], No, I think that that's..., Interviewer: Yeah, I agree. I mean, it's kind of funny like- you know, if you think like 'what is education' like you're downloading data and algorithms into your brain and it's amazingly bad in conventional education 'cause like it shouldn't be like this huge tour If someone is standing up there kind of lecturing at people and They've done the same lecture Twenty Years in a Row and They're Not Very Excited about It and In fact, I think a Lot of Thing People Learn It probably.
Certain opportunities and if afforded Opportunities I could Be Oprah could be Bill Gates I could Be Warren Buffett in My Experience in Business There is Very little difference if Any Between a Very High-Priced Business Education and What's available a Lot for a Lot less Money I went to the university of nebraska-Lincoln My last Year in college I went to Wharton for a Couple Years Before That I learned Just as Much At the University of Braska As I did at Wharton you Need to be prodded in the right Direction but an Awful lot of It Is Self As Self taught It Isn't Necessary to pay Thirty or Thirty-five Thousand Dollars a Year to go to some big-name School to get the Education at all I mean if you're gonna Learn to account if you're going Is the probably the most important of Course You'd take in Business iF you're gonna Learn to count you learn in accounting, Absolutely as Well and My view going to you and Always going to harvard I mean I see I Would I bet on that and so I Wouldn't run Up Huge Bills.
What's Anomalous is the sort of Unitary tracking Where you have to go to an elite college You go to yale or you go to jail There's Nothing Else You can Do you know and so The I think the universities are Perhaps in the same Place as the catholic Church Was in,1514 if we Go back 500 Years Where you have sort of This is monolithic Way newton's universal Way of Body of Knowledge of teaching Things the difference Between the yale and the Harvard political science Faculties are probably No greater Than the differences between the Dominicans and the Franciscans we have all Kinds of small Debates Within This context? We are we Have a System of Indulgences, That's costing more and more to support this priestly or professorial Class of People.