Shocking Truth About The College Monopoly System

i want to share with you some disturbing data about a college education a college degree today just to see how you react to it did you know the average price of a house in 1980 was 64 000 and it's 336 000 that is an uptick of 425 percent did you know the average price of a car in 1980 was 7 grand today it's 47 000 that's an increase of 571 percent but did you know the average cost of college from 1980 till today has increased ready 1200 percent by the way inflation from 1980 till today is 236 percent cost of college tuition 12 hundred percent let me get this straight incomes only 217 220 tuition for college is 1200 a thousand percent more how can the average american afford to send their kids to college or the student to pay for it we're going to talk about that today okay so before you get upset at the college you went to or you're going to right now let's ask a few questions to see if it's really worth it and then let's make a decision but if you get value out of this video give it a thumbs up subscribe and share it with others five things we're gonna talk about in this video number one the cost increase number two is the actual investment meaning the four to five years and the money you spent into it is the rate of return worth it roll college plays does it carry the same weight before and how will it be disrupted what's gonna happen to the future of college if they keep going the way they're going today so let's get right into it okay so today's sponsor to the video is udemy and if you don't know about udemy udemy is the largest online education technology platform in the world they have 40 million students they have 70 000 instructors 157 000 courses in 65 languages and 80 percent of fortune 100 companies use udemy to upskill their employees and me myself there's three courses i want to recommend to you they got an online mba course if you've never take i highly recommend it there's an online programming for kids that my kids are going through it and last but not least they have a great course for digital media if you're a sales person and you don't know a lot about digital media if you're running a business i highly recommend you taking those courses yourself and being part of valuetainment you get a discount so either click on the link above or below to go to udemy and take one of those three courses or search any other courses you'd like to take so let me explain to my concern from a perspective being in the insurance industry in the financial industry 20 plus years and my agents would come up to me and say this client here patrick wants a 2 million insurance policy will this insurance company underwrite it the first thing i always said is would you underwrite this client with your own two million dollars and risk that and they would say i don't know i said tell me why well the person 62 years old they smoked two packs a day mom died at 68. dad died that's 65 65. he's out of shape he's 320 pounds but he's got the money to buy it i said would you give them 2 million dollars and allow them to buy for me says i probably wouldn't do that so why would the insurance company do it well let's just see if they're going to do it or not so you can submit it but i don't think they're going to underwrite it right pat what are you saying what's your point here's my point so if college is so great and it's so worth paying the 30 40 50 000 per year why don't private banks finance it why is most of the financing being done by the government and why isn't the government uh preventing these colleges from increasing the price of every year college increases their tuition the government's like yeah we'll finance it yeah we'll finance it yeah we'll finance it and then when a kid who's 23 now and wants to follow bk or 28 now they'll be able to bk their credit card debt their car loan all this other stuff but you're not able to bk your college loan how why not who created that law what the government did how because colleges and government are officially in bed together for every dollar that they loan out tuition goes up 60 cents for every dollar so universities are like oh my gosh loan more because i can increase my tuition loan more because i can increase my tuition and these politicians are confused a hell out of people in america talking about how private corporations are not paying enough taxes and all this other really wait till you see how much these colleges have in their endowments in their checking accounts and on top of that the fact that they pay zero in taxes and they have zero regulation on how much they can increase their prices so maybe you ought to ask your politician in your community if you're so worried about protecting these medicines that takes five cents to make and they're selling you for a hundred bucks how come you're not going out to college in colorado colleges and universities for charging as much as they do for 18 year old kids to go into debt that they cannot afford that they have to pay 20 years to pay off why don't we go hold some of these colleges accountable for paying this much in taxes march madness you got football games this much in taxes yet let's distract them and focus on these corporations that are creating jobs and oh my gosh they're not paying any taxes which they're paying billions on top of billions in taxes i think it's a fair question to ask so so now somebody said well pat that's not fair the way you're talking about is the fact that college is all they do is they sit on cash maybe they do let's look at their dollar amount here are 10 universities that have a minimum of 10 billion dollars or higher in their endowment account which is kind of like cash and i'm going to compare how much cash they got versus some corporations and i want to kind of get your reaction to see if you're okay with that let's go through it top 13 cornell university over 10 billion vanderbilt over 10 billion emory university 11 billion washington university in saint louis over 14 billion colombia over 14 billion northwestern university over 14 billion university university of notre dame or over 18 billion university of penn over 20 billion mit 27 princeton 37 stanford 37 billion yale 42 billion harvard ready 53 billion now let's compare them to some corporations and again i really want to see your reaction comment below if this gets you thinking and saying how the hell is this even possible give it a thumbs up subscribe to the channel ready watch this you ever heard of a company called mcdonald's you know how much you got in cash these greedy people 2.3 billion dollars you ever heard of starbucks massive 420 000 employees you know how much you got in cash 3.8 billion you ever heard of this company called disney you know walt disney how much i got in cash 16 billion you ever heard of tesla this company tesla ran by this greedy guy you know how much they got in cash 18 billion ford 36 billion coca-cola 36 billion pfizer 51 billion even meta facebook has 54 billion only one billion dollars more than harvard are you okay with that and we're so hardcore on these guys not paying any taxes yet colleges and universities they literally pay zero taxes okay and they have the same amount of cash if not more by all these other corporations that are day-to-day competing they have to compete every day hiring firing enemies competition regulation and universities regulation hey keep funding it guys because the federal government's financing all the loans don't worry about it it's all going to be all right are you okay with that does it make you think the way it makes me think all right so now that you've got your blood flowing and you're kind of sitting out there saying i have no clue this type of stuff is taking place let's talk about average starting salary when you go to college a kid goes to college i'm willing to do everything you told me counselor i'll increase a-c-t s-a-t i'll take the honor i'll take this i'll take everything you say because i want to get in because you promise me when i get out i'm going to get a fat salary do you know the average expectation of a college grad when they come out is to make a hundred four thousand dollars but you know what the average college grad comes it makes when they come out fifty five thousand dollars by the way do you know the average uh computer science graduate that comes out they're expecting to make 95 000 they're a little bit more realistic and their average salary 75 000 watch this one the ones that are the one that think they should make the most money and they make the lease journalists get out of college thinking they should make a hundred and seven thousand dollars you know what's the average journalist salary when they get out of college after they went to colombia and spent a couple hundred thousand dollars forty five thousand dollars that's the starting salary let me give you some starting salaries you ought to be thinking about humanities fifty thousand dollars communications 55 agriculture 57 business 60 social science 61 math and sciences 67 engineering 74 computer science 76 do you get the idea you want me to spend 200 000 to come out and compete in the marketplace after giving you 45 years of my life and i'm only making this kind of money was it really worth me spending the dollar there maybe it is maybe there's other things that we're not even talking about which we will hear in a minute so let's talk about evolution of education and why it was needed and how companies are going away from requiring four-year degrees and i'll actually give you some specific data but here's what happened over the years so we first started off with age of manufacturing in the 1900s this is when companies like ford boeing rca came out and companies started saying look man we need people to be a little bit more educated okay great universities are like hey we'll offer this we'll offer that and so companies said it's better if we hire people that are going to college so college was actually valuable because it was teaching things that you need to know at that time then we went to age of distribution this is when walmart came in toyota procter and gamble ups so they started saying look we definitely need this is getting global business is changing we need some people to start having a little bit more experience college is definitely more necessary then then in 1990 age of information showed up and google yahoo comcast facebook and the idea of memorizing stuff when you went to school was no longer valuable google screwed everything up when it came down to memorization because nobody the only like how much does an average guy on jeopardy make for memorizing all the stuff that they do tell me a billion are on jeopardy what a great memory you got it means nothing because i can answer it faster than you based on google a hundred percent of people in the world are smarter than the smartest guy on jeopardy because they got google in their hands let me say that one more time 100 the average person in the world is smarter than the smartest person on jeopardy because they got google game over so if you want jeopardy 28 years ago nobody cares today because the average seven-year-old can beat you because they got access to google youtube if i want to learn how to do something yes 40 years ago holy i gotta go find somebody who knows what they're doing today youtube just get on there you'll learn how to do everything you wanna do pretty much everything you can learn how to do on youtube those two changed the game for education and people started actually asking is it still worth it then we went to age of customer which is today uber airbnb airbnb amazon netflix apple so some of these corporations sat there and said wait a minute is it that important for us to send kids to college and only focus on recruiting college kids so look what happened to some of these companies from 2017 to 2021 orange shows how many of the people they were hiring had four-year degrees red shows how many it is today so 2017 is orange 2021 is today intel is requiring more people to have four-year degrees today when they hire them but look at google google cares less about a four-year degree today apple definitely cares less facebook is a little bit less microsoft is less accenture is less and ibm is about the same as it was before so what's the moral of the story here corporations are sitting there saying yeah we used to require for you to have a four year degree we don't require like like we did before because there's many other ways to get the education and the training they used to get only through colleges so top 10 companies that no longer require a four-year degree you ready google apple bank of america tesla netflix ibm penguin random house costco starbucks chipotle no longer sit there and say we need a college degree like we did before so let's keep going as somebody mr pat i still think colleges are worth it so let's talk about five reasons why people go to college and why you know it's necessary for us to go what is the real reason we go to college number one the actual education we get right we're like i'm gonna go to it's the actual education i get fine ask the average person that went to college what they learned what percentage of what they learned they can recite today four years you went to college what can you recite from what you learned in college tell me they'll sit there and say well i learned about this i learned about that i learned about this fine a lot of it is memorization because our educational system is still based a lot on memorization and finnish finland university is being known right now it's one of the best education in the world they don't grade you on memorization they grade you on actual processing because today like i said earlier nobody cares how smart you are to memorize because google's a great equalizer they want to know how you process issues how you make decisions watching how things are being done visually that's the direction some universities some countries are going to and some in america are staying the same way which is memorization you better know the answers to these questions because you got 92 percent does that really apply in the day-to-day stuff i took so many tests in my life ask me what i remember from these tests i like problem solving that's what helps right and that's what a lot of us do need but the actual education part you can go on udemy and take a lot of those courses for a fraction of the cost you spend at university so the cost comparison to what the actual education is there's plenty of competition for it elsewhere number two degree diploma the label to be able to say i actually got this degree from this university fine maybe for pride maybe for family went there you know some parent when their mom went there that one we got four generations of people that went to stanford i totally respect generation and you know rituals i totally respect all of that fine do that part but to be able to say the diploma how many people sit there and say can i see your actual diploma on what you got certifications plenty of different things that you can do nowadays to get that but the diploma may be one of them the third one would be the network matter of fact i think the network is actually the most valuable when you go there you're gonna meet people that part no matter what people say just go watch the movie social network they sat there they met all these guys and they were able to recruit from each other and build a company together that's a strong network that one part i give high value if you go to the right place to build the right networks but again at the same time you can spend ten thousand dollars and go to the right business conference spend a week there and still build a lot of strong relationships at a great business conference in europe here many different places that you can find those types of things number four safety it's the safety of if it doesn't work out i got a backup plan anybody that did anything big in life that you and i read about their mindset isn't a backup plan their mindset is i'm going to go out there and go all in and make this thing work so the backup plan is for those that are wanting to play it safe you may want to change that mindset our entire system is built on getting people to think safe and the entire system of big companies it is built by people that weren't worried about that so which one do you want to be that's a decision more for you to make not for me to make and last but not least freedom independence hey i can go out there make as much money as i want to make and do all the stuff that i want to do fine you just saw the numbers were you impressed by the average salary of people coming up you may want to rethink this part about these five benefits that we always talk about when we go to college you know it's one of the worst things that happened to universities in america covid covet exposed everything here's why when covet happened universities being the most responsible institutions out there they shut down and they started doing everything with schooling through zoom now harvard came out and they asked the question they said listen harvard since i'm coming home and i'm not coming to the school and everything is based on zoom can you give us a discount and harvard said nope the stamp of approval when you get a degree from harvard is very valuable and because of that you have to pay this much money perfect that got some people to think and say wait a minute aren't one of the five benefits of going to harvard in the institution is to network with other people and spend time with them yes what happened to that wiped out the biggest value of going to these universities is the people you network with it's officially gone and they still wanted you to pay full price no discount even though covet was going on which got people thinking let me get this straight if we are going to school at home on zoom why do i need to go to a school in the first place it got people saying maybe it's a big opportunity for us to disrupt the educational industry as a whole and come out with online courses maybe we start and everybody started innovating a bunch of people started innovating and it exposed another major league in universities when kova took place knowing anybody and everybody can get educated not necessarily needing to go to schools because i miss out on the opportunities of networking if i still have to pay full price i'm gonna go elsewhere to get it done so at this point again we've covered a lot of different things but i want you to focus on one thing do you remember the five benefits we talked about earlier about going to college education being one of them and then we talked about the degree the diploma the network safety freedom and independence well let's go through each one of them education today you can get anywhere udemy online courses youtube in regards to the diploma we know it means nothing today why be because the actual education with the speed of innovation they can't move at the speed of innovation their curriculum is behind five ten years and it's constantly catching up and we're moving faster so that's out the window you need to learn courses like imagine like reading a social media textbook from nine years ago would it make any sense that's how many of these universities have their textbooks and they can't catch up with the changes number three network you're doing covid how we gonna network you can network anywhere you go number four was uh safety the fact that you have a plan b if you want to live life with a plan b you're probably gonna be you know missing out on a lot of big opportunities for yourself and last but not least is being away from family and hey i kind of want my own independence you can do that and go travel in europe get a job and live there for yourself and learn about different cultures you can do that so at this point of the game you may be thinking pat you must be 100 against college not at all if you're doing stem science technology engineering mathematics you got to go if you want to be a doctor you got to go to college i want you to go to school to know what you're doing when you're working on me or my family right as well as law if that's what you want to do it's a niche it does make sense to go there this is not 100 against it this is accountability for colleges for you to start asking a question saying why are you charging this much if it was this much i could justify sending my kids but my income hasn't increased that much in the last 42 years why are you increasing that 1200 percent when my income's only increased at 217 that's what i want you to be thinking about and then at the same time you have to say well listen i can't afford to send them they're great you got to make some choices so here's seven alternatives for you instead of going to college one of them is vocational education and trade schools there's a lot of places you can go to learn trades that's paying very well 50 75 100 000 your income plumbing you know there's coding there is you know there's a lot of different trade schools you can go to number two is shadowing go shadow somebody you respect in your community that's doing very good in an industry that you're considering watch how he or she works watch how they negotiate watch how they are on a daily basis at the office in war whatever they're doing shadow and be number two number three entrepreneurship start a business with a couple your friends you may fail it may not work out you may end up losing ten twenty thousand dollars it's a lot better than losing two hundred thousand dollars and i guarantee you one thing when you do start a business you will learn more starting a business in six twelve months then you will go into school for four years because there's things that happen in business that no four-year degree is going to teach you next is online courses or free classes on youtube there's plenty of content on youtube a guy asked me a question the other day says pat for the last eight years all i've done is watch all the how-to's on valuetainment and i have a notebook he showed me his notebook every single how-to video we've ever shot up he had taken notes he says this has helped me get his business was doing 11 million a year he went from zero to 11 million here says just simply following the content here and it's free online courses udemy plenty of courses to get toron what to do for yourself next military yeah i was just telling uh uh eric here who was in the marines before i would not be the person i am today without the military in the military's when i learn how to work 80 hours a week team crisis management all of that because that's what the military is all about especially for some of you that are undecided you're going to have the time of your life you're going to travel you're going to get your butt kicked someone's going to challenge you non-stop you're going to come back being in better shape and you will be able to handle teams and pressure that's what military provides you and a couple last ones work your way up go to a company work from the bottom bring value keep improving be willing to be challenged and constantly improve your game and eventually be able to work your way up in the company and last but not least online college these universities many of them are now having to teach online courses online colleges and it's a quarter of the cost many great universities are coming out and they're offering this if you can't afford or don't want to pay the 150 200 250 000 to some of these schools go find plenty of online colleges that will help you take courses and classes at a fraction of a cost so if this video got you thinking and you're sitting here saying my gosh i want to watch this again i want my son to watch and my mom to watch my dad to watch and my peers to watch i want my professor to watch it give it a thumbs up subscribe to the channel and comment below some of your ideas and if you want to get today's pdf click here of all the notes and last but not least i did a video titled 15 things colleges won't teach you if you've never seen that click here to watch that video take care everybody bye [Music]

Channel: Valuetainment

Views: 503,587

Keywords: Entrepreneur, Entrepreneurs, Entrepreneurship, Entrepreneur Motivation, Entrepreneur Advice, Startup Entrepreneurs, valuetainment, patrick bet david, Valuetainment Media, Patrick Bet-David Valuetainment, college board, us news, college admissions

Id: 2n0OTyU50cY

Length: 21min 52sec (1312 seconds)

Published: Wed Aug 24 2022