What’s the best way to create a generation of mindless corporate drones with no life purpose, so they can work for minimum wage to pay off their debt?
Send them to a college or university.
Going to college is probably one of the biggest mistakes countless of youngsters do every year.
There, they are going to be spending 4-8 of their prime years “getting wasted” at parties, “having fun bro” and “chilling out with the guys”.
At the same time they are going to be wasting hours upon hours sitting in a class, being taught irrelevant things that they will never use in real life.
But hey, academic intelligence and a beautifully framed piece of paper will ensure a safe job for life after graduation.
And what about being taught by “teacher-mentors” who have an 90% chance of being broke as a joke, overweight and driving a Toyota Yaris?
Of course, why not?
Go to University. Learn from “mentors” who have an 90% chance of being broke, overweight and driving a Toyota Yaris.
— Damian Pros (@dareandconquer) August 30, 2016
- Just go get an MBA and learn by professors who have never run a real business in their life.
- Just go and study Sports Science and learn by professors who are not even physically fit and can barely do 5 push-ups before their wimpy arms give up.
- Just go and study Economics and learn by professors who make $2000 a month at their 40’s and the last time they saw a 6-figure bank account was when they played monopoly.
And while you are enjoying all these amazing benefits and getting all that important knowledge, let your parents support you and pay for your student expenses, even though you are now an adult.
Of course, you think that when you graduate at 25, there will be countless safe and sound job positions with a $4000 monthly salary waiting for you.
Businesses are going to be looking for a greatly skilled professional like you and their CEOs are going to open you their offices door, while hoping that you will be kind enough to accept to work for them.
Your mom and pap have patted you on the back multiple times, telling you that you are so smart – the center of the universe – and that finding a job will be a piece of cake for you.
Oh, by the way, I have some psychic powers that I just discovered.
Accidentally, I stumbled upon the future version of your after-college self.
Crystal Ball Predictions For Your Life After Going To College
There you are, you finally got the degree!
Mom and pop invited all friends and family they could fit in their apartment (where you still live in because they still support you at 25).
But you deserved a graduation party, so everybody would know that you are a valuable, respected and well educated member of our society.
People are patting you on the back and wishing you the best. All of you smile, laugh and have fun until…
The party is now over.
You realize that this is all the fun you can have for today, as you have to go to sleep early, because you have to look for a job tomorrow.
So, you go to sleep to prepare for the big day.
Unfortunately, you soon realize that the big day is going to be repeated over the course of several weeks or months…
The first signs of doubt, disappointment and resentment start showing up as you are unable to find a job even though you have now graduated.
Real life VS You = 1-0
Here is how it goes afterwards:
“But how can this happen to me?”
You are now wondering.
Oh well, it must be the financial crisis and the government that has ruined our economy.
There is no way that I wasted my best years in college learning something that can’t even put food on my table, is it?
Reality hits you hard on the face.
Your ambitions, hopes, dreams and desires are all destroyed in a matter of seconds after the realization became clear in your head.
“Wait just a second!
Dad told me that he has a friend who knows someone whose cousin can give me a job.
You dress well – the costume and tie you were wearing in your after graduation party – to meet your new employer.
You are so glad that you have finally found a job, that you didn’t even ask what the job was exactly.
Actually, it seems weird that your employer requests that you change clothes.
Shouldn’t you be looking at your best in the first day at work after graduation?
Ten minutes later, you have already started to work!
Is this really how my life is going to be from now on?
Real Life VS You 3-0.
Now, it would be pointless to continue this story.
Even though my crystal ball can clearly see your exact future from graduation to retirement, it’s not fun to see the score going up to “Real Life VS You 1529-4”.
I have a better suggestion for you.
Let’s go back in time, to the point you were wondering whether you should go to college or not.
- Is college the right decision for you?
- What college should you go to?
- Should you take a student loan?
- Should you drop out of university?
All these questions have occupied your mind and you can’t find the answers.
It’s because you are thinking it WRONG.
If you want to find the right answer, you have to think like a billionaire investor would do.
Charlie Munger, the billionaire investor and partner of the 2nd richest man in the world – Warren Buffet – would use the powerful tool of inversion.
The solution to most problems can come pretty easily when you think about it backwards.
Instead of thinking if you should go to college, you should think the reasons why you should NOT go.
If you eventually figure out that these reasons apply to your life, then you should not go.
If these reasons have nothing to do with your decision to get higher education, then you should go.
Simple as that.
So, the top 6 reasons why going to college is a terrible decision for you:
1. Because “high-end” degrees guarantee success
I know that many college-advocates will be seriously opposed to the following points, and use this one as an argument. So, I thought that I should attack this argument head-on.
If you thought that becoming a doctor, lawyer or engineer guarantees that you are going to be successful after college, think again.
Let me quote a part of a Resume I have recently received. A 28 year old lawyer applied for a position my company offered, that had absolutely nothing to do with Law.
The position was that of the customer representative. It’s a good job, but why spend years of studying at the Law School to go to work as a customer rep?
My name is [deleted] and I am a graduate of Law School of the University of Nicosia in Cyprus where I had been studying for the last two years, after two years of attending at the Birmingham University. I am 28 years, I consider myself smart and with imagination. I am an ambitious person and always want to improve myself.
Also, I consider myself a citizen of the world as I have lived in Germany, England and Cyprus, I I have made friends from all corners of the earth, which has helped greatly to broaden my horizons, and to get in touch with many different cultures.I am very determined and I want to learn new things. I am a trustworthy and discreet character, with good communication skills and I can offer to companies which share my ambitions.
Previous work experience:
In the very distant past I used worked as a waiter in a coffee-bar, as well as assistant of a car engineer and assistant for natural gas installation . Most recently, I worked at the marketing department of company [deleted]. For the last year and a half I have been practicing at a law firm as a lawyer.
While I cannot know for what reasons this particular person went to study Law, I have received several similar resumes from lawyers, engineers, architects and all sorts of high-end degree holders.
One dentist has also knocked on my door for getting a job, but no other doctor as of now.
Isn’t it a complete waste of time to study something “respectable” and hard at the same time, such as law, medicine or engineering and then go work at a normal job?
You might argue that a specialized neurosurgeon would have no problem finding somewhere to work.
Yes, it’s true that it would be easier for them, as such specialized knowledge is only possessed by a handful of people, and this makes it very rewarding. Yet, to get to that point you would need to spend 10-15 years studying and getting really into your profession.
You would have to be in your 30’s or 40’s just to make 6-figures.
That’s okay if you truly want to become a doctor/lawyer/engineer etc. It’s okay if that’s your dream career.
However, if your main purpose is survival and then enjoyment of life by amassing riches, that path is slowlane.
You could get wealthier faster.
Farokh, just like me, has achieved things worth of respect at an age where the greatest achievements of most people have to do with running naked and drunk through the campus.
Getting into a university faculty to study a high-end subject doesn’t guarantee your success in the real world. You see, becoming successful nowadays is not absolutely correlated to having a degree or being over 30.
College takes away 5 years of your youth, condemns you to serious levels of debt, and doesn’t even guarantee a job after graduation anymore.
— Damian Pros (@dareandconquer) February 16, 2017
If you decide to blaze your own path, which is the message of Dare and Conquer, then you can accomplish things you would never think that are possible!
2. Because your parents want you to go.
Are you going to spend that one life to satisfy the desires of other people in your life? Or are you going to make it actually mean something to you?
You are expected to be a mindless drone following a predetermined path.
Success only comes when you ignore other people’s expectations.
— Damian Pros (@dareandconquer) August 30, 2016
Your parents have no authority to dictate your life after you are legally an adult.
Of course, they want the best for you and they can still give you advice and direction.
The problem is that most parents give their children the wrong direction, either due to ignorance or fear.
If your parents are not wealthy or super successful, they are probably going to give you the wrong advice.
They are going to tell you to get a university degree because “that’s the way it is”.
Of course, they will have no legit arguments to explain why this is the right decision. Instead, they will regurgitate the following:
Get a degree, find a safe job, make a family and retire rich at 65.
That’s the poem most parents hand over to their kids because of fear or because of ignorance.
The kids believe it, because nobody showed them how flawed the plan is.
They agree to sacrifice their dreams and desires in order to follow a safe, predetermined path and make their parents proud and happy.
Most of them end up living this story:
3. Because you think you are going to have a safe job after graduation.
Excuse me, but I could not keep myself from laughing with this one.
Honestly, the illusion of safety that a piece of paper provides you is the most ridiculous reason why you should get that piece of paper.
Post an ad for the shittiest, low-paying job. Sit back and wonder as a river of college graduates ask you for the position. #education
— Damian Pros (@dareandconquer) August 19, 2016
Whenever I post an ad to hire employees for my company, I get dozens of submissions from well-educated degree holders in their 20’s or 30’s asking me to give them the job.
They fight for a position I am offering like the pigeons that fight over some breadcrumbs.
They thought that their degree would lead to a safe and secure future, but there they are, unemployed, asking a 20-year old kid to give them a job.
No, I have no intention to insult or undermine them and I do not say that I am better in any way.
If they had better direction in their life, they would have probably been the ones offering the job to someone else.
While it’s not something bad to be looking for a job, it’s bad to waste 5 years of your life trying to get a degree just to get a job you could have gotten anyway.
It’s even worse to live like that for a lifetime.
4. Because it’s free.
That’s what they wanted you to believe. That going to university is free.
Let’s exclude countries like the USA or the UK where you have to get into massive amounts of debt just to get a degree that may as well be used as toilet paper.
In countries like Greece, higher education is free (sort of).
Depending on your grades in the Panhellenic exams, you get free access to the faculty of your choice.
However, there are hidden costs. Nothing in life is free.
During your last three years in high school, you have to attend extra, private classes, because what you learn in school doesn’t even prepare you for the level of difficulty in the Panhellenic exams.
I would estimate that an average college student in Greece had spent about $10.000 to $30.000 in private classes during high school, in order to go to college.
While that’s not a huge amount of money, it could have been invested elsewhere, with a much better return.
There is always the opportunity cost of what you could have done with your money and time.
On top of that, most university students in Greece spend roughly an extra $50.000 in living expenses such as furniture for their new homes, rent etc.
In the course of eight years of high school + university, that’s about $80.000 (without even taking into account expenses from post-graduate studies that many degree-holders choose to take).
If only that amount of money had been invested with an 8% annualized return, here is what the return would be:
- 8 years: $148074
- 30 years: $805012
So, it would have almost doubled by the same time someone would have finished his college education. In 30 years, it would have almost made them millionaires!
Did I mention that all this would have come without any effort on their end? Just sit on the beach and wait for the compound interest to do the work for you. But of course, spending all that money to get a piece of paper is a much better investment.
That’s not even the worst part of the story!
What is more, every decision you make, doesn’t only entail the cost of the decision itself in money, energy and time.
It also entails the hidden cost of completely dismissing a better potential alternative.
That’s the power of the opportunity cost. What is more, those who think that college is “Free” do not take into account opportunity cost and the value of their time.
College actually costs 4 years of your life, to say the least.
What’s the point of spending 4 years to get a degree and then go to work as a mascot at a banana stand?
Hundreds of thousands of dollars, if you were me.
To put another way, the opportunity cost of going to college could be huge and it’s a factor you must take into consideration before you make the decision to attend a university.
5. Because uneducated people don’t succeed.
Well, that’s partially true. Uneducated people rarely succeed. Yet, your education doesn’t have to be college education.
Some of the wisest people who ever lived never attended college.
It doesn’t take a degree to become wise, successful and rich. It does take self-education though.
Spend some chicken feed, get the tools that will build a chicken farm. Every $ spent on a good book is worth 1000x. pic.twitter.com/JTJdsRqr0T
— Damian Pros (@dareandconquer) August 26, 2016
A few days a ago, I invested 226E on books. That’s almost 1/3 of the minimum wage here in Greece.
People complain about the minimum wage, but never invest money in themselves so they can get out of the position of having to work for a minimum wage.
The minimum wage is for low-skilled, average people with lack of practical, real-world knowledge.
Had they had the skills or the knowledge, they wouldn’t be making a minimum wage.
Had they invested 1/3 of their salary in 13 new books like I did, they would have gotten 1000x return on their money.
But, of course, taking an official paper from the university so you can then work at 25 years old for a minimum wage is how you become successful!
6. Because you need to get a credential to be successful in life.
Forget about credentials.
Do you know what’s the best credential you will ever get?
A 6 figure, 7 figure, 8 figure or 9 figure bank balance. You can stick the bank statement to your wall so all these well-educated losers can see it.
Financial power is a dozen times more valuable than a piece of paper hanging in a frame at your mom’s house, so she can proudly say that her child has graduated.
Money & self-study > piece of paper hanging on the wall
A piece of paper doesn’t buy you freedom. An 7 or 8 figure bank balance does.
Going to college is a decision you cannot make light hearted.
You must make sure that if you go to college, it’s because you want it. If your are not willing to fully commit and get super deep into your area of expertise, then it’s the wrong decision.
If you go because of the reasons described above, then you are most likely going to waste your time there.
Take into account the opportunity cost and the value of your time. Use inversion to guide your decision making process.
Skipping college and sitting at your sofa while playing video games is an equally wrong decision as going to college for the reasons explained above.
With no education whatsoever, you are still going to end up working for a minimum wage. The pre-requisite for becoming rich, successful and free is continuous, lifelong self-study.
Until Next Time,
Keep Daring & Conquering