Valuetainment - Defund Universities - Shocking Truth About The College Monopoly System

00:00:00.000 I want to share with you some disturbing data about a college education, a college degree today

00:00:04.040 just to see how you react to it. Did you know the average price of a house in 1980 was $64,000

00:00:09.760 and it's $336,000? That is an uptick of 425%. Did you know the average price of a car in 1980 was

00:00:17.760 seven grand? Today it's $47,000. That's an increase of 571%. But did you know the average

00:00:25.080 cost of college from 1980 till today has increased, ready? 1,200%. By the way, inflation from

00:00:32.460 1980 till today is 236%. Cost of college tuition, 1,200%. Let me get this straight. Incomes

00:00:40.820 only $217,000, $220,000. Tuition for college is 1,200%, 1,000% more. How? Can the average

00:00:48.660 American afford to send their kids to college or the student to pay for it? We're going 0.63

00:00:52.760 to talk about that today. Okay, so before you get upset at the college you went to or

00:01:04.560 you're going to right now, let's ask a few questions to see if it's really worth it and

00:01:08.180 then let's make a decision. But if you get value out of this video, give it a thumbs up, subscribe

00:01:12.100 and share it with others. Five things we're going to talk about in this video. Number one,

00:01:16.040 the cost increase. Number two, is the actual investment, meaning the four to five years and

00:01:20.720 the money you spent into it? Is the rate of return worth it? Roll college plays. Does it carry the

00:01:27.120 same weight before? And how will it be disrupted? What's going to happen to the future of college

00:01:32.460 if they keep going the way they're going today? So let's get right into it. Okay, so today's

00:01:36.320 sponsor to the video is Udemy. And if you don't know about Udemy, Udemy is the largest online

00:01:40.340 education technology platform in the world. They have 40 million students. They have 70,000

00:01:46.400 instructors, 157,000 courses in 65 languages and 80% of Fortune 100 companies use Udemy to upskill

00:01:55.160 their employees. And me, myself, there's three courses I want to recommend to you. They got an

00:01:59.740 online MBA course. If you've never taken, I highly recommend it. There's an online programming for kids

00:02:04.700 that my kids are going through it. And last but not least, they have a great course for digital

00:02:08.940 media. If you're a salesperson and you don't know a lot about digital media, if you're running a

00:02:12.640 business, I highly recommend you taking those courses yourself. And being part of IUTEM, you get

00:02:16.920 a discount. So either click on the link above or below to go to Udemy and take one of those three

00:02:21.820 courses or search any other courses you'd like to take. So let me explain to you my concern from a

00:02:26.160 perspective being in the insurance industry, in the financial industry, 20 plus years. And my agents

00:02:30.640 would come up to me and say, this client here, Patrick, wants a $2 million insurance policy. Will this

00:02:35.880 insurance company underwrite it? The first thing I always said is, would you underwrite this client with

00:02:41.000 your own $2 million and risk that? And they would say, I don't know. I said, tell me why. Well,

00:02:45.400 the person's 62 years old. They smoke two packs a day. Mom died at 68. Dad died at 65. He's out of

00:02:53.560 shape. He's 320 pounds, but he's got the money to buy it. I said, would you give them $2 million

00:02:58.480 and allow them to buy it for me? He says, I probably wouldn't do it. I said, so why would the insurance

00:03:02.540 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

00:03:06.180 think they're going to underwrite it, right? Pat, what are you saying? What's your point? Here's my point.

00:03:09.360 So if college is so great and it's so worth paying the 30, 40, $50,000 per year, why don't

00:03:17.720 private banks finance it? Why is most of the financing being done by the government? And why

00:03:23.520 isn't the government preventing these colleges from increasing the price of every year college

00:03:28.140 increases the tuition? The government's like, yeah, we'll finance it. Yeah, we'll finance it. Yeah,

00:03:32.100 we'll finance it. And then when a kid who's 23 now and wants to file a BK or 28 now, they'll be able to

00:03:38.760 BK their credit card debt, their car loan, all this other stuff, but you're not able to BK your

00:03:43.560 college loan. How? Why not? Well, who created that law? Well, the government did. How? Because

00:03:49.040 colleges and government are officially in bed together for every dollar that they loan out,

00:03:56.660 tuition goes up 60 cents for every dollar. So universities are like, oh my gosh, loan more

00:04:01.280 because I can increase my tuition. Loan more because I can increase my tuition. And these politicians

00:04:05.460 are confused the hell out of people in America talking about how private corporations are not

00:04:09.300 paying enough taxes and all this other stuff. Really? Wait till you see how much these colleges

00:04:13.880 have in their endowments, in their checking accounts. And on top of that, the fact that they pay

00:04:18.780 zero in taxes and they have zero regulation on how much they can increase their prices. So maybe you

00:04:27.220 ought to ask your politician and your community, if you're so worried about protecting these medicines

00:04:32.520 that takes five cents to make and they're selling you for a hundred bucks, how come you're not going

00:04:37.560 out to college, calling out colleges and universities for charging as much as they do for 18 year old

00:04:42.700 kids to go into debt that they cannot afford, that they have to pay 20 years to pay off? Why don't we go

00:04:46.880 hold some of these colleges accountable for paying this much in taxes? March Madness. You got football

00:04:54.000 games, this much in taxes. Yet let's distract them and focus on these corporations that are creating

00:05:00.180 jobs. And oh my gosh, they're not paying any taxes, which they're paying billions on top of billions in

00:05:05.160 taxes. I think it's a fair question to ask. So now somebody may say, well, Pat, that's not fair. The

00:05:09.460 way you're talking about is the fact that colleges, all they do is they sit on cash. Maybe they do.

00:05:13.640 Let's look at their dollar amount. Here are 10 universities that have a minimum of $10 billion or

00:05:19.920 higher in their endowment account, which is kind of like cash. And I want to compare how much cash they

00:05:25.060 got versus some corporations. And I want to kind of get your reaction to see if you're okay with that.

00:05:29.580 Let's go through it. Top 13, Cornell University, over $10 billion. Vanderbilt, over $10 billion.

00:05:35.180 Emory University, $11 billion. Washington University in St. Louis, over $14 billion. Columbia, over $14

00:05:40.860 billion. Northwestern University, over $14 billion. University of Notre Dame, over $18 billion.

00:05:46.760 University of Penn, over $20 billion. MIT, $27 billion. Princeton, $37 billion. Stanford, $37 billion.

00:05:52.860 Yale, $42 billion. Harvard, ready? $53 billion. Now let's compare them to some corporations. And again,

00:05:59.240 I really want to see your reaction. Comment below. If this gets you thinking and saying,

00:06:04.420 how the hell is this even possible? Give it a thumbs up. Subscribe to the channel. Ready? Watch

00:06:08.380 this. You ever heard of a company called McDonald's? You know how much they got in cash? These greedy

00:06:12.700 people. $2.3 billion. You ever heard of Starbucks? Massive. 420,000 employees. You know how much they got

00:06:21.280 in cash? $3.8 billion. You ever heard of this company called Disney? You know Walt Disney? You know how much

00:06:27.660 they got in cash? $16 billion. You ever heard of Tesla? This company, Tesla, ran by this greedy guy?

00:06:33.220 You know how much they got in cash? $18 billion. Ford, $36 billion. Coca-Cola, $36 billion. Pfizer,

00:06:40.920 $51 billion. Even Meta, Facebook, has $54 billion. Only $1 billion more than Harvard. Are you okay with

00:06:49.060 that? And we're so hardcore on these guys not paying any taxes. Yet colleges and universities,

00:06:54.600 they literally pay zero taxes. Okay? And they have the same amount of cash, if not more,

00:07:00.980 by all these other corporations that are day-to-day competing. They have to compete every day. Hiring,

00:07:08.060 firing, enemies, competition, regulation, and universities regulation. Hey, keep funding it,

00:07:14.340 guys, because the federal government's financing all the loans. Don't worry about it. It's all going

00:07:17.600 to be all right. Are you okay with that? Does it make you think the way it makes me think?

00:07:21.240 All right. So now that you've got your blood flowing and you're kind of sitting out there

00:07:25.260 saying, I have no clue this type of stuff has taken place, let's talk about average starting

00:07:28.860 salary when you go to college. A kid goes to college. I'm willing to do everything you told

00:07:33.000 me, counselor. I'll increase ACT, SAT. I'll take the honor. I'll take this. I'll take everything you

00:07:38.960 said, because I want to get in. Because you promised me when I get out, I'm going to get a fat salary.

00:07:42.940 Do you know the average expectation of a college grad when they come out is to make $104,000?

00:07:47.840 But do you know what the average college grad makes when they come out? $55,000. By the way,

00:07:53.160 do you know the average computer science graduate that comes out, they're expecting to make $95,000.

00:07:59.420 They're a little bit more realistic. And their average salary is $75,000. Watch this one. The

00:08:04.140 ones that are the one that think they should make the most money and they make the least.

00:08:07.680 Journalists get out of college thinking they should make $107,000. You know what's the average

00:08:12.460 journalist salary when they get out of college after they went to Columbia and spent a couple

00:08:15.960 of $100,000? $45,000. That's the starting salary. Let me give you some starting salaries you ought to

00:08:21.700 be thinking about. Humanities, $50,000. Communications, $55,000. Agriculture, $57,000. Business, $60,000.

00:08:29.320 Social science, $61,000. Math and science, $67,000. Engineering, $74,000. Computer science, $76,000.

00:08:35.320 Do you get the idea? You want me to spend $200,000 to come out and compete in a marketplace after giving

00:08:40.560 you four to five years of my life and I'm only making this kind of money? Was it really worth

00:08:44.580 me spending the dollar there? Maybe it is. Maybe there's other things that we're not even talking

00:08:48.880 about, which we will hear in a minute. So let's talk about evolution of education and why it was

00:08:53.600 needed and how companies are going away from requiring four-year degrees. And I'll actually

00:08:58.200 give you some specific data. But here's what happened over the years. So we first started off with age

00:09:03.180 of manufacturing in the 1900s. This is when companies like Ford, Boeing, GE, RCA came out.

00:09:08.080 And companies started saying, look, man, we need people to be a little bit more educated.

00:09:12.420 Okay, great. Universities are like, hey, we'll offer this, we'll offer that. And so companies said,

00:09:16.540 it's better if we hire people that are going to college. So college was actually valuable

00:09:20.920 because it was teaching things that you need to know at that time. Then we went to age of

00:09:24.600 distribution. This is when Walmart came in, Toyota, Procter & Gamble, UPS. So they started saying,

00:09:30.000 look, we definitely need, this is getting global, business is changing. We need some people to start

00:09:34.360 having a little bit more experience. College is definitely more necessary. Then,

00:09:37.440 then in 1990, age of information showed up and Google, Yahoo, Comcast, Facebook,

00:09:43.480 and the idea of memorizing stuff when you went to school was no longer valuable. Google screwed

00:09:49.440 everything up when it came down to memorization because nobody, the only, like how much does an

00:09:54.960 average guy on Jeopardy make for memorizing all the stuff that they do? Tell me a billionaire on

00:09:58.800 Jeopardy. What a great memory you got. It means nothing because I can answer it faster than you based

00:10:05.960 on Google. A hundred percent of people in the world are smarter than the smartest guy on Jeopardy

00:10:10.840 because they got Google in their hands. Let me say that one more time. A hundred percent,

00:10:14.300 the average person in the world is smarter than the smartest person on Jeopardy because they got

00:10:17.360 Google. Game over. So if you won Jeopardy 28 years ago, nobody cares today because the average

00:10:23.240 seven-year-old can beat you because they got access to Google. YouTube, if I want to learn how to do

00:10:28.060 something, yes, 40 years ago, holy shit, I got to go find somebody that knows what they're doing. 0.78

00:10:32.040 So today, YouTube, just get on there. You'll learn how to do everything you want to do. Pretty much 0.90

00:10:36.980 everything you can learn how to do on YouTube. Those two changed the game for education and people

00:10:42.040 started actually asking, is it still worth it? Then we went to age of customer, which is today,

00:10:47.700 Uber, Airbnb, Amazon, Netflix, Apple. So some of these corporations sat there and said, wait a minute,

00:10:53.700 is it that important for us to send kids to college and only focus on recruiting college kids?

00:10:59.200 So look what happened to some of these companies. From 2017 to 2021, orange shows how many of the

00:11:07.460 people they were hiring had four-year degrees. Red shows how many it is today. So 2017 is orange,

00:11:13.800 2021 is today. Intel is requiring more people to have four-year degrees today when they hire them.

00:11:19.520 But look at Google. Google cares less about a four-year degree today. Apple definitely cares less.

00:11:24.180 Facebook is a little bit less. Microsoft is less. Accenture is less. And IBM is about the same as

00:11:29.720 it was before. So what's the moral of the story here? Corporations are sitting there saying, yeah,

00:11:33.920 we used to require for you to have a four-year degree. We don't require like we did before because

00:11:38.880 there's many other ways to get the education and the training that you used to get only through

00:11:42.420 colleges. So top 10 companies that no longer require a four-year degree. You ready? Google, Apple,

00:11:47.120 Bank of America, Tesla, Netflix, IBM, Penguin Random House, Costco, Starbucks, Chipotle no longer sit

00:11:52.960 there and say, we need a college degree like we did before. So let's keep going. Now somebody may

00:11:57.900 say, Pat, I still think colleges are worth it. So let's talk about five reasons why people go to

00:12:01.280 college and why it's necessary for us to go. What is the real reason we go to college? Number one,

00:12:06.500 the actual education we get, right? We're like, I'm going to go to, it's the actual education I get.

00:12:12.120 Fine. Ask the average person that went to college, what they learned, what percentage of what

00:12:16.880 they learned, they can recite today. Four years you went to college, what can you recite from what

00:12:22.060 you learned in college? Tell me. They'll sit there and say, well, I learned about this, I learned about

00:12:27.720 that, I learned about this. Fine. A lot of it is memorization because our educational system is still

00:12:33.740 based a lot on memorization and Finnish, Finland University is being known right now as one of the

00:12:39.760 best education in the world. They don't grade you on memorization, they grade you on actual processing

00:12:45.680 because today, like I said earlier, nobody cares how smart you are to memorize because Google's a

00:12:51.500 great equalizer. They want to know how you process issues, how you make decisions, watching how things

00:12:56.840 are being done visually. That's the direction some universities, some countries are going to, and some

00:13:01.940 in America are staying the same way, which is memorization. You better know the answers to these

00:13:05.440 questions because you've got 92%. Does that really apply in the day-to-day stuff? I took so many tests in

00:13:11.040 my life. Ask me what I remember from these tests. I like problem solving. That's what helps, right?

00:13:16.240 And that's what a lot of us do need. But the actual education part, you can go on Udemy and take a lot

00:13:20.920 of those courses for a fraction of the cost you spend at university. So the cost comparison to what

00:13:26.520 the actual education is, there's plenty of competition for it elsewhere. Number two, degree,

00:13:30.740 diploma, the label to be able to say, I actually got this degree from this university. Fine. Maybe for

00:13:36.840 pride, maybe for family went there, some parent went there, mom went there, dad went there. We got

00:13:42.360 four generations of people that went to Stanford. I totally respect generation and rituals. I totally

00:13:47.780 respect all of that. Fine. Do that part. But to be able to say the diploma, how many people sit there

00:13:53.100 and say, can I see your actual diploma on what you got? Certifications, plenty of different things that

00:13:58.000 you can do nowadays to get that. But the diploma, maybe one of them. The third one would be the network.

00:14:02.320 Matter of fact, I think the network is actually the most valuable when you go there. You're going to meet

00:14:06.340 people. That part, no matter what people say, just go watch the movie Social Network. They sat there,

00:14:11.760 they met all these guys, and they were able to recruit from each other and build a company together.

00:14:15.180 That's a strong network. That one part, I give high value if you go to the right place to build

00:14:20.600 the right networks. But again, at the same time, you can spend $10,000 and go to the right business

00:14:25.300 conference, spend a week there, and still build a lot of strong relationships at a great business

00:14:30.240 conference in Europe, here, many different places that you can find those types of things.

00:14:34.340 Number four, safety. It's the safety of, if it doesn't work out, I got a backup plan.

00:14:39.260 Anybody that did anything big in life that you and I read about, their mindset isn't a backup plan.

00:14:43.580 Their mindset is, I'm going to go out there and go all in and make this thing work. So the backup plan

00:14:47.800 is for those that are wanting to play it safe. You may want to change that mindset. Our entire

00:14:52.200 system is built on getting people to think safe, and the entire system of big companies is built by

00:14:58.000 people that weren't worried about that. So which one do you want to be? That's a decision more for you to

00:15:01.780 make, not for me to make. And last but not least, freedom, independence. Hey, I can go out there and

00:15:06.180 make as much money as I want to make and do all the stuff that I want to do. Fine. You just saw the

00:15:09.860 numbers. Were you impressed by the average salary of people coming out? You may want to rethink this

00:15:13.440 part about these five benefits that we always talk about when we go to college. You know what's one of

00:15:17.500 the worst things that happened to universities in America? COVID. COVID exposed everything. Here's why.

00:15:24.000 When COVID happened, universities, being the most responsible institutions out there,

00:15:29.580 they shut down and they started doing everything with schooling through Zoom. Now, Harvard came out

00:15:34.900 and they asked the question. They said, listen, Harvard, since I'm coming home and I'm not coming

00:15:38.920 to the school and everything's based on Zoom, can you give us a discount? And Harvard said, nope.

00:15:44.380 The stamp of approval when you get a degree from Harvard is very valuable. And because of that,

00:15:48.780 you have to pay this much money. Perfect. That got some people to think and say, wait a minute.

00:15:54.060 Aren't one of the five benefits of going to Harvard and the institution is to network with other people

00:15:58.920 and spend time with them? Yes. What happened to that? Wiped out. The biggest value of going to

00:16:05.280 these universities is the people you network with is officially gone and they still wanted you to pay

00:16:11.780 full price, no discount, even though COVID was going on, which got people thinking, let me get this

00:16:16.620 straight. If we are going to school at home on Zoom, why do I need to go to a school in the first place?

00:16:21.920 It got people saying, maybe it's a big opportunity for us to disrupt the educational industry

00:16:27.580 as a whole and come out with online courses. Maybe we stopped. And everybody started innovating. A

00:16:33.940 bunch of people started innovating and it exposed another major leak in universities when COVID took

00:16:40.160 place. Knowing anybody and everybody can get educated, not necessarily needing to go to schools

00:16:44.480 because I miss out on the opportunities and networking. If I still have to pay full price,

00:16:48.760 I'm going to go elsewhere to get it done. So at this point of the game, we've covered a lot of

00:16:52.460 different things, but I want you to focus on one thing. Do you remember the five benefits we talked

00:16:55.800 about earlier about going to college, education being one of them? And then we talked about the

00:17:00.540 degree, the diploma, the network, safety, freedom, and independence. Well, let's go through each one of

00:17:05.220 them. Education today, you can get anywhere. Udemy, online courses, YouTube. In regards to the diploma,

00:17:11.900 we know it means nothing today. Why? Because the actual education with the speed of innovation,

00:17:17.860 they can't move at the speed of innovation. Their curriculum is behind five, 10 years and it's

00:17:24.780 constantly catching up and we're moving faster. So that's out the window. You need to learn courses.

00:17:30.100 Like imagine like reading a social media textbook from nine years ago. Would it make any sense?

00:17:35.960 That's how many of these universities have their textbooks and they can't catch up with the

00:17:40.340 changes. Number three, network. You're doing COVID. How are we going to network? You can network

00:17:44.180 anywhere you go. Number four was safety. The fact that you have a plan B. If you want to live life

00:17:49.720 with a plan B, you're probably going to be missing out on a lot of big opportunities for yourself. And

00:17:54.280 last but not least is being away from family and hey, I kind of want my own independence. You can do

00:17:58.240 that and go travel in Europe, get a job and live there for yourself and learn about different cultures.

00:18:03.780 You can do that. So at this point of the game, you may be thinking, Pat, you must be 100% against

00:18:07.180 college. Not at all. If you're doing STEM, science, technology, engineering, mathematics, you got to

00:18:12.540 go. If you want to be a doctor, you got to go to college. I want you to go to school to know what

00:18:16.380 you're doing when you're working on me or my family, right? As well as law. If that's what you want to

00:18:20.320 do, it's a niche. It does make sense to go there. This is not 100% against it. This is accountability

00:18:25.920 for colleges for you to start asking a question saying, why are you charging this much? If it was this

00:18:32.260 much, I could justify sending my kids, but my income hasn't increased that much in the last 42

00:18:36.820 years. Why are you increasing that 1200% when my income's only increased at 217%? That's what I

00:18:42.740 want you to be thinking about. And then at the same time, you have to say, well, listen, I can't afford

00:18:46.300 to send them. They're great. You got to make some choices. So here's seven alternatives for you instead

00:18:50.880 of going to college. One of them is vocational education and trade schools. There's a lot of places

00:18:55.880 you can go to learn trades. That's paying very well. 50, 75, $100,000 a year income, plumbing,

00:19:02.420 you know, there's coding. There is, you know, there's a lot of different trade schools you can

00:19:06.160 go to. Number two is shadowing. Go shadow somebody you respect in your community that's doing very

00:19:10.580 good in an industry that you're considering. Watch how he or she works. Watch how they negotiate.

00:19:16.880 Watch how they are on a daily basis at the office and whatever they're doing. Shadowing be number two.

00:19:21.740 Number three, entrepreneurship. Start a business with a couple of your friends. You may fail.

00:19:25.380 It may not work out. You may end up losing $10,000, $20,000. It's a lot better than losing $200,000.

00:19:30.880 And I guarantee you one thing when you do start a business, you will learn more starting a business

00:19:35.200 in six, 12 months than you will go into school for four years because there's things that happen

00:19:39.220 in business that no four-year degree is going to teach you. Next is online courses or free classes

00:19:47.060 on YouTube. There's plenty of content on YouTube. A guy asked me a question the other day. He says,

00:19:51.540 Pat, for the last eight years, all I've done is watch all the how-tos on Valuetainment. And I have

00:19:57.260 a notebook. He showed me his notebook. Every single how-to video we've ever shot up, he had taken notes.

00:20:03.880 He says, this has helped me get his business. He was doing $11 million a year. He went from zero

00:20:08.340 to $11 million a year. He says, just simply follow on the content here and it's free. Online courses,

00:20:13.360 Udemy, plenty of courses to get to learn what to do for yourself. Next, military. Yeah, I was just telling

00:20:19.600 Eric here who was in the Marines before, I would not be the person I am today without the military.

00:20:24.860 And the military is when I learn how to work 80 hours a week, team, crisis management, all of that,

00:20:30.200 because that's what the military is all about, especially for some of you that are undecided.

00:20:34.180 You're going to have the time of your life. You're going to travel. You're going to get your butt kicked.

00:20:37.300 Someone's going to challenge you nonstop. You're going to come back being in better shape and you 1.00

00:20:41.340 will be able to handle teams and pressure. That's what military provides you. And a couple last ones,

00:20:46.120 work your way up, go to a company, work from the bottom, bring value, keep improving, be willing

00:20:51.480 to be challenged and constantly improve your game. And eventually you'll be able to work your way up

00:20:55.060 in a company. And last but not least, online college. These universities, many of them are now

00:21:01.960 having to teach online courses, online colleges, and it's a quarter of the cost. Many great universities

00:21:08.720 are coming out and they're offering this. If you can't afford or don't want to pay the $150,000,

00:21:13.380 $200,000, $250,000 to some of these schools, go find plenty of online colleges that will help you

00:21:18.040 take courses and classes at a fraction of a cost. So if this video got you thinking and you're sitting

00:21:23.780 here saying, my gosh, I want to watch this again. I want my son to watch it, my mom to watch it,

00:21:28.300 my dad to watch it, my peers to watch it. I want my professor to watch it. Give it a thumbs up,

00:21:33.080 subscribe to the channel and comment below some of your ideas. And if you want to get today's PDF,

00:21:37.940 click here of all the notes. And last but not least, I did a video titled 15 Things Colleges Want

00:21:43.240 Teach You. If you've never seen that, click here to watch that video. Take care, everybody. Bye-bye.

Valuetainment - August 24, 2022

Defund Universities - Shocking Truth About The College Monopoly System

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