Tune In, Turn On, Drop Out… Become a Billionaire?
I’m going to list ten people. They have at least two things in common.
I’ll spot you the first common trait: they’re all billionaires.
1. Sir Richard Branson
2. Kirk Kerkorian
3. Bill Gates
4. Paul Allen
5. Steve Jobs
6. Larry Ellison
7. Michael Dell
8. David Geffen
9. The Ralph Lauren
10. Sheldon Adelson
So, what common thread ties all these guys together? Give up?
They’re all either high school or college drop outs.
Why would such immensely rich and successful people have difficulty with a task that most of humanity passed without any problem? The answer could lie in the heart of our educational system and the soul of the entrepreneur.
Think about your experience in either high school or college. Schools actually are best at teaching socialization skills to students, not entrepreneurial skills. Secondly, we teach kids how things are done in school–not how they can be done. There’s a big distinction. The one closes the mind; the other opens the mind into a swirling world of possibilities and probabilities. It’s a world that isn’t corralled or confined. And that can make it scary for an educational bureaucracy.
Finally, our school system, perhaps because it’s main funding source, tends to be anti-free market. Entrepreneurs only exist in free mental and economic markets.
Entrepreneurs, who tend to be big dreamers, would find this atmosphere stifling. If you read biographies of these pioneers you’ll discover that theme, too. The soul of an entrepreneur thrives on risk and innovation, not well-tested formulas and rote learning methods.
I chose to list billionaires because it makes a tangible, vibrant statement. But, I could find a similar list of pioneering drop outs or laggards in other fields. Albert Einstein comes to mind. While not a drop out, he was continually pushed to the back of his class and refused good positions because he was a dreamer.
That ability to dream resulted in the Theory of Relativity and our current understanding of the post-Newton era.
Those, of course, are just my theory on under-performing over-performers. What about you? Do you have a theory on why billionaires tend to be drop outs?
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I'm George Ulmer. Matt and I started this blog and launched the Online Investing AI business. Our goal is to develop the technology to allow anyone to retire after working for 10 years.
is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
Many entrepreneurs dropped out of school, and many dropped out of the workforce, too. They are forced to make their own existence because they can’t stand taking directions from other people.
(Who me?
Sadly I’m not a billionaire, though!)
Hey Monevator!
I didn’t think of the desperation angle, but it’s true.
You’re not a billionaire… yet.
Nice article, I am an entrepreneur at heart, but not a school drop out, and not a billionaire….yet
Thanks for sharing
I agree with you, education is not the main capital one success but hard work and willingness to realize a dream would be successful.
The road less traveled, that’s for sure – I can relate to this article. High school and college were God awful boring for me as professors recited off PowerPoint presentations and expected you to read textbooks filled with theories and vocabulary words that required you simply memorize and recite like a parrot when it came time for an exam. I did the worst in easy classes filled with routine and vocabulary tests (which was most classes) while the hardest classes where we ran business simulations and had hands on case studies I was miles ahead of the other students. Experience is much more valuable than a college degree… unless of course you want to be a talking parrot your whole life…
@Tim I think that’s a great point, Tim. I don’t think it means all billionaires are drop outs. Or all drop outs will be billionaires.
@Ryan As a student who earned my degree as an adult, I agree. My life experiences were far more valuable (and sometimes less painful) than the lessons passed on by the professors.
I tried this arguement with my husband last night about traveling the world with the children to learn from life experiences versus them attending traditional school. I tried to explain that much more would be learned actually attending the moneuments then learning from a book. Which do you remember more?
I share those common trait of college dropout, but haven’t yet figured out how to make a billion bucks.
I bet you find out how, though. Thanks, Money Funk.
Right on the money!
“The soul of an entrepreneur thrives on risk and innovation, not well-tested formulas and rote learning methods”
I can relate to what you are saying when It comes to the education system… I’m a college drop out myself.. I found the love for learning after I left school … learning never stopped…
Now the fun part is how to get that billions. =D
I agree!