Between Peter Thiel and Scott Adams, there's a lot of questioning of higher education right now.
The thing is, both of these guys made their money by essentially working the system. I won't go so far as to say Adams doesn't create anything, or that PayPal doesn't fulfill roles in the economy, or anything like that. It's just that their primary mode of wealth acquisition is not wealth creation. It's the acquisition of wealth stored by other people.
In his article, Scott Adams portrays his blatant gaming of the system as "valuable life lessons." For its part, PayPal is notorious for how poorly it treats customers (with repeated delays and fees) and how quickly it freezes assets when it can get away with doing so. Recently, we witnessed how PayPal treated Julian Assange as soon as he became politically unpopular. Far from standing by their client, they froze his funds, thereby gaining the right to use them indefinitely, interest-free. They didn't turn them over to the government; they just seized them and held on to them. This came as little surprise to anyone aware of prior complaints about PayPal's weird delays and procedures, all of which serve to tie up money and basically allow them interest-free use of customers' funds.
The spirit of working hard, fitting in the system, and creating new wealth isn't there. Their form of getting rich is to access existing wealth, by shortcuts where possible.
Do you need to go to school for that? Probably not. Hustling is learned on the streets, after all. But - and this is where they fail - do we want a society full of people doing that instead of going to regular jobs, paying taxes, etc.? That would be disastrous. Adams and Thiel ought to get down on their knees and thank whatever God they worship (which, admittedly, is likely to be something like Ayn Rand's dollar sign) that the world isn't composed of people like them.
Here's a quote from the IGN boards where Vitalsign, a businessman, explains how he games the system:
Marriage smarriage. Vitalsign's epic ownage of the system.Date Posted: 11/16/2008 11:45:AM
Here is just one example of marriage being an idiotic idea (and our tax code).
I've been with my girlfriend for 3 years and she has two kids from a prior marriage. We've been discussing marriage for awhile and have decided to do what I've been telling people gays should do. Get "married" at the place of your choice, but don't worry about the marriage certificate.
By us not "officially" marrying we get the following: she gets about $5,000 a year in tax "credits" (she pays no taxes and barely makes any money). The children also are on Medicaid and she recieves food stamps as well as childcare coupons from the county.
The greatest thing about it is I make almost $100k a year. But since we are not "married" my income doesn't count.
If you are married with children it makes no sense. You can pull one of these moves too. Totally legal. Get divorced, have one person not work, collect free loot, save thousands at the end of the year.
This nanny state stuff is pretty neat. I look forward to what Obama will be adding to the prize pool.
This is precisely the sort of thing Scott Adams exalts in his article - taking advantage of the system without giving a damn what the system is supposed to be there for.
And we're supposed to want this to become commonplace?
Adams says it himself: the sciences, arts, and so forth are necessary for society to develop. But he doesn't want to participate, because he's not (he says) a genius, and so it's not for him. I suspect the real reason is that science is HARD, and he can get by just fine without having to resort to that. Gaming the system and drawing humor comics has made him richer than I'll probably ever be. But if EVERYONE (or everyone apart from the academics, which is still nearly everyone in his vision of the future) were to game the system, then it would fall apart.
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