(Also see the playlist Let’s Raise Kids to be Entrepreneurs)
He makes the point that the schools define a successful career as a profession: law, medicine, dentistry. These are bureaucratic professions. They involve passing tests. They are profitable, because there are barriers to entry established by the state.
He is opposed to getting an MBA. He is correct. The MBA is a bureaucratic degree. It is taught by people who have not run profitable businesses. They are certified to teach, because the universities screen access. Only certified people are allowed to teach there. Rich people cannot afford to get certified.
The speaker had the gift of buying low and selling high at age 7. This is rare. But when you spot this in a child, encourage him.Education That Works – Do You Pay Your Children an Allowance? Stop! You Are Ruining Them.
You know I don’t like guilds.
The problem that adults face is that they are salaried. They do not have entrepreneurial skills. So, they cannot teach them to their children. Robert Kiyosaki’s Rich Dad, Poor Dad is based on this theme. His high-salary father was the poor dad.
It’s a lot more fun to undercut the guild membership, and outfox them, and drive them into the mud, when you can make heaps of money by doing so.
Obeying God and earning profits and helping out thousands (or millions!)
and undercutting the tyranny-loving Establishment?
That’s the life to work for!
That’s a goal to achieve!