MOST STARTUP FOUNDERS ARE COLLEGE DROPOUTS!

(Facts about Startups)

“We don’t need no education,” Pink Floyd sang in their iconic song Another Brick in The Wall.”

Whether a college education is essential or not is perhaps something that can be debated till the cows come home. We know billionaire dropouts are far from being the norm. Most billionaire entrepreneurs in Forbes 400 have completed some kind of academic studies, but it’s not a mere coincidence that as many as 11.2% of them are college dropouts, including two of the four richest people in America (Bill Gates & Mark Zuckerberg). Some entrepreneurs say college was a turning point in their lives, others state that formal education was just for fun, a few of them regret having dropped out, and some say it was a mere waste of time. Times have changed, but it appears college is not always perceived as added value by the most creative, revolutionary, restless minds. Formal education will probably improve job prospects and expected wage. But maybe some have other plans and dreams. At some point in life where we might realize we don’t need a degree. The reasons behind this vary, but they include financial issues, trade-offs, and even lack of motivation.

Why would formal education fail to retain curious minds?

1. Formal education is a rather inflexible environment:

Academia is an institution that evolves at a quite slow pace. But many of the discouraged college dropouts enjoy constant change and challenge. A formal education setting is not an environment in constant motion. Its speed of progress may not be up to the demands of some of the most ambitious minds.

2. Formal education rarely fosters imagination:

Imagination heavily affects the ability to materialize a consummated idea out of thin air. To create something from nothing. Academia often displays a steady, step-by-step kind of growth. College still gives room for improvement/evolutionary innovation, but it’s not necessarily the best place to encourage disruptive innovation, which usually stems from young startups or outsiders.

3. Formal education is a system- It’s full of rules, boundaries, and guidelines:

College has a formal structure that might limit natural flow or associations between seemingly unconnected ideas. It demands the discipline to follow a predetermined curriculum and stay within the scope of the program. Projects tend to have requirements you need to comply with. Free associations might be discouraged or restricted. The good thing is that college can provide useful guidance, but this could also result in a limiting factor at times.

4. Formal education is a one-size-fits-all system:

There’s a curriculum, a rhythm, a routine, and everyone must adapt to them. There’s not much room for individualities or eccentricities.

5. College is not designed to make you an entrepreneur:

Academia focuses on providing you all the tools you need to become a brilliant lecturer, employee, researcher, analyst, executive, academic writer, or even scientist, but not necessarily the best business leader, agent of change, artist, or entrepreneur. Research shows that start-ups play a huge role in hiring talents. And start-ups = entrepreneurs.

6. The hours of study can be devoted to something they find more productive:

Each hour counts as if it was the last one.

In short, it’s a tradeoff!

They trade:

• Time devoted to studying for time devoted to personal pursuits and growth,
• A rigid structure for freedom,
• Understanding for transcending,
• Discipline for lack of limits,
• Steady growth for transformation,
• Slow-paced evolution for revolution,
• A predictable path for a once-in-a-lifetime opportunity,
• Certainty for adventure,
• Money spent to pursue a degree for money spent to build an empire.

I think it’s fair to assume many role models would have probably gotten right where they are regardless of their qualifications, assuming their drive, experience, interests, stamina, support, and motivation remained the same. It’s what I call the “D&D” factor — dreams and drive — what makes all the difference. But then again, not even a degree might save you from a lack of “D&D”. I see indifferent, professional people every single day. It shows in their eyes.

MY VIEWS:

I’ve met many smart people, with or without qualifications, who kept on learning and improving indefinitely. But I’ve also met several people with impressive qualifications that never impressed me much, to be honest. The most incompetent people I’ve met include both professionals and people with no credentials. The same goes for the most competent ones. But it’s not always easy to spot them. Most selection processes lack the flexibility to do so. It takes much more than just an HR Analyst position and HR qualifications to spot raw talent. It takes a keen eye paired with great instincts to discover real genius. Many of the most creative people I’ve met have decided to take the entrepreneur route, not only because they enjoy it but also because they couldn’t stand selection processes or corporate rules. They felt caged. The reason why college fails to retain these wild spirits is also the reason why inflexible selection processes can’t hook them in, and why stagnated corporate rules push them away.

TAKEAWAYS!

Going to college is an exceptional experience if that’s what you feel you want, and if it’ll be an enriching path that helps to get from A to B. But it’s not always essential. It’s not written in stone one’ll get nowhere if they don’t get a degree. That might happen if one don’t have “D&D”, though. In some fields, a lack of qualifications could complicate things (or even make your goals unattainable), but in other fields, we can all be self-taught and, just like Edgar Allan Poe once said, “nothing is unattainable if you really want it.” Qualifications should follow passion, not the other way around. Dreams might kick start a career, with or without higher education, but a degree just for the sake of it won’t take you far either. It might keep financially safe, but it can make the person deeply miserable. College is never good or bad. It just depends on the person. School is what YOU make of it. It’s better to follow your calling even if that means dropping out of school than ignoring it to pursue a degree. But dreams and college are not mutually exclusive. Actually, they might be great complements.

ENDING ON A GOOD NOTE:

“I have never let school interfere with my education.” — Mark Twain

Be honest with yourself! You can’t go wrong :)

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