Hello, people! I've been hearing a lot about successful entrepreneurs and 'most founders are college dropouts' sort of thing. How much truth is there to this statement? Is it really common for successful start-up founders to not finish college?
While it is true that some successful entrepreneurs, like Bill Gates, Steve Jobs, or Mark Zuckerberg, did drop out of college, this is not the norm amongst successful startup founders. According to several studies, most startup founders in fact are college graduates, and a significant proportion have advanced degrees.
A report from the National Bureau of Economic Research found that about 92% of founders in the US had at least a bachelor's degree, and nearly 47% held more advanced degrees. On top of that, another survey by the education technology company, 2U, found that nearly 85% of the 'unicorn' startup founders (those with a billion-dollar valuation) have completed their tertiary education.
It's essential to keep in mind that while a college education might not guarantee success in the business world, it equips individuals with crucial skills, such as problem-solving, critical thinking, and discipline. It also provides networking opportunities and the chance to learn from experienced teachers in the field.
So, while college dropout-turned-successful-founder stories are highlighted frequently in the media, they are exceptions rather than the rule. This narrative should not be seen as a blueprint for success in entrepreneurship. In fact, getting a good education can be invaluable for startup founders.
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