The Truth: Why College Is The Ultimate Pyramid Scheme

what's up everybody Nate here and the college experience in the United States has been around for a very long time now and it has produced some of the most educated Generations in our nation's history from Harvard to Yale and even MIT millions of Americans are vying to get into the best school possible so that way they can have a successful future however many of them have been lied to year after year poverty grows in the United States and even though we have some of the most educated people throughout the entire planet millions of Americans are unable to find a job with the promise of getting a really good job after going to a university kind of broken in today's society many people are wondering what exactly is the purpose of college well the purpose of college in the United States today is very much different than when it first began and unfortunately this has created sort of a pyramid scheme problem being a millennial I was basically taught from birth that college opens up opportunities and I needed to go if I wanted to have a successful future College opened the door towards knowledge and going to a university meant that you were going to have a wealthier future and statistically that has been true in the United States like if you look at the numbers of people that started to go to college in the 80s and 90s and 2000s they typically come out of school and find a job that is going to afford them the standard of life that they want to live so that wasn't necessarily a lie but it wasn't really true on my parents Parts either or my grandparents or all of the teachers and family members that taught me this way so like many Millennials before me I did go to a college and university and I ended up finding out that college is sort of a lie when I started to go to college I was an English major now looking back that might not have been the most successful choice for my financial future but it was something that I really wanted to do and being a millennial I was taught that I needed to also follow my passions and my dreams if I was going to go to college I should go and learn something that I feel like I want to have a future in and I know many people were forced into careers in mathematics and Sciences that they really didn't want to be in simply because of the image and the idea that their parents or grandparents sort of pushed on them that wasn't my experience necessarily I was taught that if I was going to go to school then I should do something that I'm really passionate about and if I'm really good at that then I can eventually start making some money from it now I bring up that I'm an English major because I had this creative writing teacher and I always wondered how exactly my creative writing teacher actually makes money I mean seriously we're learning about how to write books and how to write poetry and the best ways to get your work out there and yet my creative writing teacher never really published a book and if they did it was wildly unsuccessful like they basically just published it on Amazon and called themselves an author now not that that takes away from anybody if you're trying to become an author or anything in the creative field it's very very difficult but that is what kind of struck me as a red flag for my professors after class I literally went up to this professor and asked them can you really make a living and creative writing and they gave me this whole spiel about of course it's possible they broke down royalties they broke down contracts for me but at the end of the day they had never done it themselves that is where I started to shift my ideology when it came to college I was being taught by professors and professionals who never actually made it in the field that they were teaching in now that is a big problem because we have this entire generation of teachers and an entire generation of people going to school learning how to get better and better at specific crafts but the problem is and where the pyramid scheme lies people end up going to school they get really really good at something like creative writing but then they find out after they go to college that there is very little opportunities out there now maybe it's because the market is really saturated maybe it's because Society just doesn't deem that skill extremely valuable in order to give you excessive amounts of money or maybe you have to be incredibly incredibly good at it almost an innovator in order to sort of get by whatever the case may be we have millions of people coming out of school right now that cannot get a job with their college degree so where do they go more often than not they end up in my professor's shoes they go back to school because they can't find any sort of place of work and then they start teaching after that they get a master's degree or maybe a doctorate in creative writing or English literature and then they move on to becoming a tenured professor teaching kids and teaching University students that they need to learn all this information so they can apply it to their work and creative writing down the road but many of those students are not going to be able to apply it because they're not going to be able to find a job so basically you have a pyramid scheme going on in the college experience in the United States you have students learning a craft like creative writing for instance going on and graduating college and not being able to find a job so they go back to the school where they learned everything from the first place start teaching more people and that cycle just repeats forever and that sort of leads us to the question of what exactly is the purpose of college in general is the purpose of college to get skills and knowledge to take into a job field or is the purpose of college to just have a more educated Workforce and depending on how you answer this question is going to lead you into completely different areas of life down the road I think there's one really important question that we need to ask ourselves here when we think about the purpose of college because there is this financial aspect that a lot of people don't take on and it's because of the way that we are taught about school in the beginning because you're taught that school is such a necessity many Millennials and even members of gen Z believe that they have to go to school they have to go to university and that is the only way and because they have to do it that means they also have to find a way to finance it for me there was never really a question well are you going to go to school it's which school you're going to go to and then we'll figure out how to pay for it that is a big problem because it fundamentally adjusts how you think about school because if you're financing school if you're taking on tens of thousands or even hundreds of thousands of dollars worth of loans just to go to school well then you need to have some type of output for that I believe that we need to have a more educated society and I believe in the college experience for me I would do it all again in a heartbeat because it taught me sort of ways to ask questions in society today and it taught me New Perspectives and new ways of thinking about traditional fields that have only been thought in one way for me that was really valuable it gave me that return on my investment because now I have the critical thinking skills that I didn't have before but to be completely honest with you I don't use every aspect of my degree every single day so so maybe I should have chose something else educated Society is great and we need more specialization in our individual fields in order to answer all the complex questions that Society brings up every single day but what isn't great is an entire society that is sort of held down and held back by mounting debt I mean if you go to school and you take on 60 000 to 80 000 to a hundred thousand dollars in debt and your career choice is only going to pay you twenty five thousand to thirty five thousand dollars a year well now you can't do anything else in your life all of the skills and all of the Innovations and everything else that you have to give to society is going to be weighed down because of that debt and we need to find a happy medium obviously there's changes that could be made at the government level there's changes that could be made around our entire college financial system but I think the bigger change and the more immediate change that we can make today is how people actually think about school I firmly believe believe that you do need to have some type of return on your investment and if you want to go to school and take on all of these degrees in exchange for all of this debt then that is completely on you however I also believe that you can be really really well educated while also getting a really good job after you go to college but what you need to have is skills that are going to be able to get you a job that you either want or a job that is necessary to society people have to think of school as the end of your education Journey like you go to school you get that four-year degree and then you get a really good job and then you never have to learn anything ever again but I'm here to tell you that you are never done learning in life there was always something new to learn and there's always something that you can do to bring more value to your personal life your friendships your relationships and your work that is what we should always be striving for is to bring value how can I bring the most value to society how can I bring the most value to everything else immediately around me in life if you can do that then it doesn't really matter what degree you get because you are going to be valuable you're going to have skills that people want if you have skills that nobody wants but you're really really Highly Educated then it doesn't really matter and you're never going to be able to fully use those skills because you don't have the money and the financial means to do so and you're going to be held back by all of that debt and it's going to force you into careers that you don't want to take which is only going to make you more mad at society and our college and the degree that you got and regretful and resentful for your entire experience and that's not what college is about moving forward I think this entire college experience is definitely going to change over time because now we have the power of AI now we have Generations who have gone through the college experience and are now telling their kids or students in their classes if they're a teacher that they don't necessarily need to go to college they can go to a trade school or they can just learn something online or they can become an entrepreneur being an entrepreneur was never even mentioned in my household that was not never something that I thought that I could personally do I always heard of entrepreneurs I always heard of small business owners but it never really dawned on me or was taught to me that that was something that I could pursue myself that ideology is changing and with the help of Technology like chat GPT and other AI generative programs were now able to take education to a whole new level and people can now go to school and learn the things that they want while also Gathering the skills that they need to be a valuable member of society that is the ROI because many people are now looking at school and they're saying there is no Roi in the 70s 80s and 90s there was an Roi because nobody had a college degree right nobody had those secondary education skills but now pretty much everybody does so it's much much harder for people to get a job after coming out of college and if you take anything away from this entire video it's what I mentioned at the beginning I was taught that the pathway towards wealth was getting a really good job by go going to college however many generations now are realizing that the path to wealth is not working a nine to five it's not having a traditional job it's through investing having assets having ownership of something is how you build wealth it's not necessarily from your nine to five job your nine to five job helps towards that because you have money that you can put towards those assets at a consistent level but that alone is not going to make you wealthy and that is the mistake that my generation made go to college get a really good job so you can be wealthy it just doesn't work like that any job can make you wealthy and you have to ask yourself do I want to be financially successful or just successful in my own way those are completely different questions and the outcome that you get out of college is going to be very different depending on which type of success you want to have I think having both is very important for our entire society and that is what we should be striving for we should be striving for a really really well-educated society that thinks differently about college that also has the skills that we need and the education to go out and get real well jobs are important because they keep Society Running but they don't create wealth investing is what creates wealth but that is it for today's business and financial news breakdown thank you so much for watching if you want to stay up to date with all the top business and financial news from around the country our team puts together a free daily newsletter and you can subscribe to it by clicking the link in this corner right here and if you want to stay up to date with me and everything else happening in the business and financial world I'm putting out updates seven days a week over here on this channel and I've actually got another one ready for you right here so be sure to check that out before you go that is it for me everybody be kind out there and I'll see you all in the next one

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