You only need to watch the first 5 minutes of the above video to get the gist.
A self-made billionaire making the exact same points I’ve been making about college for years. The cost of college has gone up ten times since the 80s. Even if you adjust for inflation, the cost has quadrupled. At the same time, the increase in income of college graduates over non-graduates has been decreasing for at least the last 15 years. College grads working shitty jobs like janitorial and retail are at all-time highs. But you’re not allowed to even even question that YOU MUST GO TO COLLEGE! And like Thiel says, no one will give you a refund if your college degree turns out to be useless.
I take no pleasure in saying this, but college (at least in the United States) has become a bubble and a scam.
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“the increase in income of college graduates over non-graduates has been decreasing for at least the last 15 years”
Indeed. And one also has to take into account that part of this income difference is not because of the college degree itself, but rather due to the fact that higer IQ people are more likely to go to (and finish) college than lower IQ people.