Why Entrepreneurship As We Teach It Is Dead and Rotting

Entrepreneurship is rotten to its very core, and we need to change some of the things we teach about it in business schools.

Safety Nets

Students in virtually every higher education classroom throughout the world are told that they can make it as an entrepreneur with only a great team and an astounding idea (hell, for some courses, the entire curriculum revolves around that idea). That’s however turning a blind eye to the most common shared trait among entrepreneurs: Access to financial capital (family money, inheritance, or connections that allow for access to financial stability).

Shortcuts

My second concern is that a “culture of unicorns” has created a generation of entrepreneurs looking for shortcuts to the highest possible valuation. This leads to a laziness that has become pervasive and most obvious in certain corners of entrepreneurship classes (look for the kids using the words “ICO” and “X million valuation”).

The Five

Because my generation has lived through back-to-back massive worldwide revolutions (the growth of the internet followed by the adoption of smartphones), we assume that another revolution is just around the corner, and that once again, a bunch of us can get together in a garage and write a little software to take advantage of yet another massive economic upheaval. But there is no such revolution on the way.

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