Are MBAs Still Relevant? An Entrepreneur's Advice. (Unfiltered Voice Memo)

Business education is a business. "And the biggest thing I don't do well with, and never did well with, was knowing that no matter how hard I worked, there would always be a cap to my success. And when I say success, I really mean the take-home, the revenue. Why are we there? This is not altruism. What do you get out of a job? You get money.

Don Draper said this to Peggy when she said, 'It would be nice if you could say thank you once in a while, Don.'

And he loses his sh*t. And he says, 'That's what the money is for!'"

In June 2023 I went to a birthday party with thirty MBAs where I just... did not... fit in. This voice memo that I recorded on the way home captures the essence of entrepreneurship. (Excuse slight drop in sound quality, it's a raw iPhone voice recording but worth it.) Caveat: No shade to MBAs (my parents and friends have them). This is an exploration of an entrepreneurial mindset, how that's changed even in the last 5-10 years.

Themes:

Key idea: With a salaried position as an employee, you are capped in earning potential; there are diminishing returns to how hard you work. When you own the business there is no cap.

You can create something from nothing all by yourself without incurring debt. It's never been easier than today with AI.

That said, there are perks to employment and it's great for many people. It's the smart move for many (most) people. Employment is statistically more likely to make you money than starting a business.

Topics:

(0:00) Backstory before voice memo

(0:24) The creative influence of alcohol maybe

(1:12) Entrepreneurial mindset vs. traditional education

(1:41) Voice memo begins: MBA Party thoughts

(2:07) Questioning the value of formal education

(4:08) Employee vs owner (earning potential, effort and payoff)

(5:56) Alternative paths to learning and success

(8:01) What you can teach yourself

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