#0063: Are we in the Education Bubble??

Reading time: 8.30 min

Hey !!👋

This week let's read about:

• Education Bubble - Peter Thiel

• Trying different transports in India with Adi

• What kids really need

As a firm believer in challenging the status quo, I have always been intrigued by the prevailing assumption that college is the sole path to success. I continuously ponder the significance of higher education and whether it truly is the definitive route to achieving one's dreams.

This edition delves into Peter Thiel's insightful perspectives on the education system and its potential drawbacks. As a vital member of the illustrious "PayPal Mafia" and the co-founder of Palantir, Thiel's credibility in shaping the startup world is undeniable.

He has also been the first outside investor in Facebook, and his revolutionary book, "Zero to One," has left an indelible mark on the entrepreneurial landscape.

But beyond his entrepreneurial prowess, Thiel's thought-provoking views on education have genuinely captivated my attention. His belief in the power of self-education and the need to challenge the traditional college route aligns closely with my curiosity about alternative paths to success.

As someone who constantly seeks out like-minded individuals advocating for new paradigms in education, I stumbled upon Thiel's compelling arguments about the necessity of college.

“Education may be the only thing people still believe in the United States. To question education is really dangerous. It is the absolute taboo. It’s like telling the world there’s no Santa Claus.”

1. Skyrocketing Tuition Costs: Thiel highlights that college tuition costs have escalated much higher than inflation, creating a financial burden on students and their families. This sharp cost increase needs to be revised, leading to significant student loan debts.

2. Credentialism: The education bubble is fueled by the belief that obtaining a prestigious college degree is the primary determinant of one's future success. This credentialism contributes to the perception that a college education is an essential prerequisite for career advancement, regardless of the skills and knowledge gained during the education process.

3. Student Loan Debt: As more students seek higher education to secure their future, many are forced to take out substantial student loans to finance their studies. The increasing student loan debt burden can become a financial obstacle for graduates, hindering their ability to invest, start businesses, or pursue non-traditional career paths.

4. Oversupply of Graduates: Thiel argues that the education system produces an excess of graduates with similar degrees, leading to increased competition for jobs in specific fields. As a result, many graduates find securing positions that match their qualifications challenging, leading to underemployment and dissatisfaction.

5. Mismatch of Skills: The focus on obtaining degrees rather than developing practical skills may lead to a mismatch between the skills graduates possess and the skills demanded by employers. Many graduates need more relevant experience and expertise to succeed in the job market.

   Learning With Adi

   Trying different transports in India with Adi

In this weekly podcast on EducationNext, we share our enchanting stories of travelling through India, highlighting their unique experiences with public transport.

From budget-friendly options like bustling rickshaws and efficient metro systems to thrilling Rapido bike taxis, they take you on an audio adventure that's both informative and entertaining.

Discover the joys and challenges of using public transport in India as we recall their first-time experience of riding the modern Bangalore Metro and navigating through busy Chennai, where they encountered last-minute issues with cabs.

Learn valuable lessons about flexibility and quick thinking as they share how they dealt with unexpected public transport situations.

The podcast also delves into the iconic Indian rickshaw, taking you through vibrant streets and introducing you to friendly rickshaw drivers with fascinating stories.

And, of course, they unravel the secrets of the Indian Railways, an integral part of India's transportation system, as they talk about the thrill of booking train tickets and the occasional delays that taught them the art of patience.

Whether you're a seasoned traveller or a curious armchair explorer, this podcast will give you a unique and intimate glimpse into the heart of India's transportation landscape.

All kids need is …

Last week, on a sunny morning, I observed my 2-and-a-half-year-old nephew, Yash, behaving differently than usual. He seemed calmer, happier, and surprisingly less fidgety. Curiosity piqued, I set out to uncover the secret behind this newfound tranquillity.

As I looked around, I noticed the house was experiencing an unexpected electricity breakdown. The TV and phones were all rendered useless, and other family members had taken this opportunity to head out to the terrace to fix and tidy up the garden. Little did I know that this simple disruption would unveil a beautiful story of actual play and its impact on young minds.

Leaving the family to their gardening tasks, I followed Yash as he ventured into the garden. To my delight, he had found a small patch of mud recently dug up. There, under the open sky, he discovered his haven of happiness. With no electronic gadgets to distract him, he could explore and play with the mud at his heart's content.

With childlike wonder, he dug his tiny hands into the soft earth, grabbing fistfuls of mud and shifting them from one spot to another. The gleeful smile on his face was evidence of the joy he found in this simple, unstructured play. No one was telling him what to do or how to play; he was free to be himself, and that freedom seemed to invigorate his spirit.

As I sat back and watched this heartwarming scene, I couldn't help but draw a parallel to my parenting journey with my now 9-year-old son, Adi. I remembered the precious moments we shared when he was small, the time we spent engaging in various activities that brought us closer together.

As parents, we have countless opportunities to actively engage with our children and witness their growth and development.

From the early years of their infancy to the transformative moments of adolescence, each stage offers unique experiences that strengthen the parent-child bond. By embracing these opportunities, we can truly savor the joys of parenthood and create lasting memories cherished by parents and children alike.

Read more ….