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The Hustler's MBA

I've been saying that college is obsolete for a very long time. I dropped out in 2000, because even back then I could see that it was a really poor value proposition. I didn't predict this because I'm some crazy genius, but because I'm willing to discard emotional attachment and stare plainly at the facts.

School is outrageously expensive, leaving graduates with a debt (or net expenditure) of tens of thousands of dollars-- sometimes even one or two hundred thousand. There are some things that are worth that amount of money, but for many people school isn't one of them. In fact, apart from very specific cases, I think that school is a bad thing, not worth doing even if it was free.

That's not to say that school has no benefits whatsoever. It does, and although I left with zero additional skills after my three semesters there, I had a good time and benefited from the social aspect. The problem is that you can't just compare college to doing nothing at all. You have to compare it to what you COULD have done.

The Combo

I'm pretty good at a lot of things. I'm a good programmer, a good blogger, a good writer, a good poker player and so on. Am I one of the BEST programmers in the world? Nope, not even close. Best bloggers in the world? Again, no. Writer? Not within miles of it. Poker player? Middling.

There's a type of bet in sports called a parlay. If you don't know what that is, it's a bet on multiple events. To get paid off, you have to be right on all of them. So maybe the 49ers have to win their game, the Patriots have to win theirs, and the Steelers have to win their game. Even if every event is pretty likely to happen-- say fifty percent to make the math easy, the odds of all three happening are pretty slim. One in eight. Because it's rare for all of the events to happen in the same way, you get paid off proportionally well.

In the same way, combinations of skills are extremely rare and valuable. I may not be the best at any of those things, but I doubt you can find someone who is as good at all four combined as I am. That's not because I'm amazing, it's just because we've all picked a handful of things that we specialize in. You might be the best juggling / running / physicist in the world.

Luckily very few things in this world require only one skill. Even things that seem like they do, like painting, also require storytelling, marketing, social skills, etc. In the infinite world of possible paths, we all have the opportunity to use our set of specialties and change the game so that the winner is the person who has those skills.