Daxesh Degdawala

Service Engineer, B Braun Medical Pvt. Ltd.

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Is it right that mostly college drop out students run the biggest businesses in the world?

In Most of cases Mostly college drop out students successfully run biggest businesses in the world. Its a very amazing and wonderful.

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    Mar 3 2013: Could you share your evidence that "mostly college drop out students successfully run the biggest businesses in the world?" We all know a few examples of college drop-outs who do- Bill Gates, Mark Zuckerberg, Steven Jobs- but I have not seem the evidence that most successful big businesses fit this profile.

    Do you think people increase their odds of running a successful big business in the modern world if they drop out?

    Please share your data!
  • Mar 3 2013: Hi Daxesh

    indeed it is right... if you ever wondered , you might have come to believe what schooling system teaches us.
    I believe you are interested in entrepreneurship... and that is very interesting. I guess the entrepreneurial spirit is growing in India. will be very interesting to share ideas with you as I am looking forward to be in India.

    Schools produce good little boys and girls to go to university, get a degree and get a job, pay taxes, buy liabilities, pay more taxes for it, retire and die (and pay taxes because you are dead, you don't need money when you are six feet under)

    people who drop their education, (some end up being criminals) and had a strong desire of achievement they went for it. they know they can't get a job without a degree (no one would employ them) so they created a work for them.
    and then their hire people with a degree to do the job for them.

    school doesn't teach us to take risk, but the street does. (you know they say something like this: School Wise vs Street Wise)... because lie is too risky outside of classroom. and the ones who drop out, goes through this risky life and learned the advantages and disadvantages of taking risks.

    there is a nice book about what Rich tell (teach) their children about money (money management) and what Poor / Middle class tell (teach) their children about money (money management)
    Rich Dad Poor Dad by Robert Kiyosaki (you can find the full audio book on yourtube)

    Cheers
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      Mar 4 2013: @Edwin:) I appreciate with yr knowledge. Very Nice talking..... Good Comment. Nice to meet you.
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    Mar 6 2013: Yes it is right.
    They will hire the ones who didn't drop out for a small salary
  • Mar 4 2013: In my view, . These famous businessmen/women have been successful because of their burning desire to achieve something and more importantly they did not allow their limited academic education to make them settle for a mediocre life. They worked hard and made it to the top. As Edwin said, these drop-outs are unable to find any good jobs and are thus, are driven to create work for themselves. Unlike many college drop-outs who are happy doing a job at McDonald's for the rest of their lives (no offense to anybody who works there) and are okay with having not having achieving anything substantial in their lives. They may be exceptionally smart, maybe smarter than Bill Gates or Steve Jobs ever were, but if heshe allows the fact that they're college drop-outs to decide the quality of life they can have , they may become very successful people. The most important quality I have noticed in most of these successful college drop-outs is that they are not scared to dream or take any risks.
    I would say that the fact that they were drop-outs forced them into entrepreneurship, as it's the only way they can become big. So I would rephrase the sentence and say that the most of the big businessmen and businesswomen are college dropouts rather that most of the college drop-outs being the biggest businessmen or businesswomen! :)
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      Mar 4 2013: The situations of Bill Gates and Mark Zuckerberg, two of the people often mentioned in this context, don't really fit the profile some people have in mind of drop-out-with-limited-education-makes-good.

      Gates and Zuckerberg had the sorts of k12 education and enrichment their affluent families could provide, excelled in that to the degree that they started at Harvard and Princeton respectively, had ideas so compelling to them that they decided to interrupt their educations for it (either could have returned had their ventures failed), and had their families and connections to support their ventures.

      They were not drops out unable to find good jobs who were forced into entrepreneurship. they had different preparation and opportunities.
      • Mar 6 2013: Fritzie,
        I agree that Mark Zuckerberg and Bill Gates are two people who interrupted their education to go ahead with their compelling ideas and wrere not forced into entrepreneurship, rather, they were looking for it. I see how many of these college-dropouts, though almost equally successful, had different reasons for dropping out. I think they got rich because they are extremely good at what they do and street-smart as well. I have recently read that a mass-based forrester research (from Cambridge) showed that 20% of America's millionaires have never even attended college. I have also read an article of the Forbes, which wrote about the rags-to-riches stories of 50 people. They were either entrepreneurs , or worked their way up after getting lucky. But as you said, they may have not been forced into entrepreneurship and must have had different reasons. They were nonetheless entrepreneurs. So I would say that a majority of successful college drop-outs from what I have read are entrepreneurs.
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          Mar 6 2013: I had misunderstood your claim. I thought you were arguing that most successful entrepreneurs were college drop outs.

          Looking at this different idea, that the majority of successful college drop-outs were entrepreneurs, it depends very much on what you call successful and what you include within the category of entrepreneurs. Many people who never went to college are extremely happy with their lives. We probably have many such people here, some of whom had their own businesses and some not.

          Looking forward, I have read that college is the new high school degree, in the sense that college is now expected for more opportunities within organizations. The expected earning stream of college-educated people is much higher than of those with less education, and the impact of the economic downterm has been much greater on those with less education.

          But this is not the same as success.
      • Mar 6 2013: Of course, success is rather subjective. But I am referring to success in the context of the question asked, where it talks about the somewhat small majority of rich and famous people, who , in spite of being college drop-outs have managed to get to the level that they have today.
        College being a possible mandatory qualification for joining any organization is inevitable due to the increasing population and scarce jobs. Obviously, one with more qualifications is likely to get a job at any organization . And also, the impact of economic downterm on a person with less education in some way or the other is inevitable. But are you referring to all of the people who have received relatively less education, even people like Steve Jobs, Bill Gates, etc. ?
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          Mar 6 2013: Sorry to be unclear. I use the word "expected" in the economic sense. It doesn't mean everyone with less education will have a lower income stream than everyone who has more. It means if you take a group of each kind and compare, on average one group has a higher income stream than the other. In each group there will be exceptions, as there is variation, typically around any average..
      • Mar 8 2013: yes of course, I agree that the average income of a group with more education will be higher than another group's with relatively lesser education. Although I think that the people with a less-than-average income would be pulling their average down. Since we are speaking about the exceptions in both the groups, comparing them would be better. We could compare the averages of incomes of the very best of the groups, so we have an accurate comparison.
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    Mar 3 2013: People go to universities to acquire academic knowledge. Degrees are not required to become an entrepreneur but knowledge of the products, services, and business practices in a specific industry are required to effectively manage a company.
    If an entrepreneur has the resources to form a company and they wish to profit from the company, they can hire people to perform the tasks in the business and remain only an equity holder.
  • Mar 17 2013: yes but the majority of those people are true geniuses and for the majority of dropouts from college they go nowhere and there are plenty of businesses run by people that wet through all of college
  • Mar 4 2013: Because from the dropping out action,it means they can be brave to take the action to stop things they aren't interested in.They have the gut to make the words'Take the action,just do it' in their lives.I think it is a very important potential in their bodies to be a successful businessman.