Why an MBA isn’t worth it, according to this self-made multimillionaire. via CNBCMakeIt
But don’t assume the degree is always worth getting, says Jason Calacanis, a Silicon Valley angel investor. Calacanis has backed over 150 companies, including six that have become unicorns with valuations over the $1 billion, like Uber and trading platform Robinhood.Still, “I do think that education has the worst value ratio, " he says.
Angle investor Jason Calacanis boasts being an early investor in six unicorns - Uber, Robinhood, Desktop Metal, Datastax, Wealthfront and Thumbtack.That's because of the high price of the degree, says Calacanis. MBA programs at top tier business schools can cost, and then there's the opportunity cost of lost income during a two-year program. Calacanis believes that money could be better spent elsewhere.
“[With] the $200,000 that you spend on your MBA you could probably start eight different projects — $25,000 each — and by the time you get to the third, fourth or fifth, you will probably have a $10 million or $100 million dollar company,” he says. Calacanis himself learned by doing. He co-built a blogging platform that was backed by Mark Cuban and later acquired by AOL for $25 million in 2005, according to“Be very careful that you don’t just follow the MBA because you think that that’s going to make you a genius. What makes you a genius and makes you effective, is your ability to learn skills on your own,” he says. “How quickly can you become great at some skill, is the skill.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MBA students face off in challenge to create the next best impact investing ideaAn inaugural competition challenged MBA students to come up with investment portfolios that have a positive social and environmental impact without sacrificing financial returns. The contest could point to where the industry is headed.
Read more »
A top WeWork executive explains why the company doesn't have the same issues as Airbnb and UberSome sharing economy companies have struggled with local governments and existing employers, like taxicab companies. WeWork's had the opposite experience.
Read more »
Uber is telling the world it's just like Amazon: Here's why the skin-deep similarities are misleadingUber CEO Dara Khosrowshahi would like investors to believe his company is the next version of Amazon. It's not.
Read more »
Why Big Oil should embrace activists like Greta Thunberg | OpinionMost of us in Big Oil know climate change is real. It's time we act on it.
Read more »
Opinion | Kirk Cox: Why did Virginia Gov. Ralph Northam veto a very good bill?The governor chose political expediency — and his own reputation — instead of protecting some of our most vulnerable Virginians.
Read more »
Analysis | The Energy 202: Here's why Democrats pushed to pass a climate bill that isn't going anywhereThe Energy 202: Here's why Democrats pushed to pass a climate bill that isn't going anywhere
Read more »
Why At The Kentucky Derby, As In Investing, Track Records Can MisleadThis Saturday is the 145th running of the Kentucky Derby. For the 3rd year in a row, I discussed the the big race with Caton Bredar, one of the racing industry’s most noted handicappers. Once again, I have made an analogy between horse racing and investing, which is the purpose of this article.
Read more »
Why so many big German companies are in troubleGerman companies, such as Volkswagen and Bayer, are facing international heat
Read more »
This may be why Americans are so bad at saving for retirementOne retirement problem: it's unclear if people are even listening to saving advice, because there isn't enough data on it
Read more »