“We have to (get to) rethink the role and value of acquiring knowledge.”
Three centuries later, we’re still following the same educational model they used back then, one that was designed to train people to work in factories or on farms. Are there flickers of innovation every now and then? Absolutely. But other than those flickers of creativity and the movement toward online learning, education is stuck in thinking that’s three centuries old.
Is it any wonder today that so many executives and C-Suites who were trained in our prestigious business schools exhibit such derivative, corporate, and herd mentality thinking?
Information wants to be free, but the cost of education is certainly heading in the opposite direction. Here in the United States, good ‘ole Uncle Sam (the federal government) has increased the money it is spending on grants, loans, and tuition tax breaks. Yet the WSJ reports that the average cost of in-state tuition and room and board at a public university has increased 40% faster than economy-wide inflation over the last decade. Now these numbers are as of 2016. Imagine what 2026 numbers are going to look like.
While private school tuition and related costs have not gone up as rapidly, they, too, have outpaced inflation. And, of course, they were much pricier to begin with (cough, I’m aware). The amount of debt required for most students to get a college education today is ridiculous. The marketability of a four-year degree is diminishing, the costs continue to rise, and its viability and value in the marketplace is declining.
Like healthcare, financial services, insurance, entertainment, and many other industries, higher learning today is infected with a centuries-old culture that blocks technology and other developments that would otherwise improve productivity and effectiveness.
Right now, companies are at the mercy of selecting graduates from business schools that are stuck in an outdated learning model. Savvy employers will have to take a more proactive role in training and education, and savvy employees and entrepreneurs will have to take a more personal responsibility in their own learning, as well as personal and leadership development.
Not only do these institutions have to catch up with the level of thinking in the entrepreneurial world, they also need to stay afloat to the level of thinking needed to jump in to 2028 (the next decade). This will require an exponential leap!
If I were running Google, Facebook, Apple, Amazon or Netflix, which I’m not right now, the first logical thing I would do instead of having all of my money in offshore accounts and evading taxes would be to set aside $100,000,000 to start our own high school and colleges and begin housing, internships, and scholarships to the most talented, skilled and promising teens in the world.
Don’t wait for the educational systems to catch up with the programs needed to prepare our workforce for success. I would create them as true entrepreneurs do. By coming at the situation absent minded of the already existing preconceived notions, pessimism, and reverse engineering to find the solution, we could truly create the ideal one.
Every one of these areas is certainly “off limits” for discussion at the place you currently attend school or work. But that’s alright. That’s how we know these are the places the real money will be made in the marketplace. The entrepreneurs who have the guts to think differently, blow up the box life, and tap their resources have the best odds for success.
The truth is, no one is prepared for all this. No one really likes change until they are the ones lagging behind and have no choice but to change. My goal here was to awaken us to the challenges coming and help all of us prepare for the new and higher level of thinking we must practice — the kind of thinking that will empower, liberate, and energize us.
Because once we understand the choices we will be facing and realize the power we have in those choices, the more powerful those choices, and, ultimately, our decisions will become.
The male and female entrepreneurs, public and private companies who help people deal with these cataclysmic changes we’re about to face in the years to come will become the wealthiest on the planet. And more likely than not, a few other planets as well. Right, Elon Musk?
My Very Best,