 Student loan debt versus business startup debt. I got this question from young crypto. If you're watching this, what's up? It's a very good question Should you go into debt vis-a-vis going into the brainwashing Academy or should you start a business now? This question I'm about to give you doesn't apply to everybody. It all depends on who you are What goals do you have? What type of person you are? How you're wired? How do you view the world and What you value the most? I'm assuming young crypto That you are a young entrepreneur. I'm assuming that I may be wrong, but I'm assuming that let me put this out of the way Okay, you guys know me my take on debt is specifically for student that I think for the most part post-secondary education so university and college is A scan it has failed Everybody I mean everybody unless you want to become a Specialty trade meaning lawyer Doctor engineer something that needs Regulatory approval with a license and you have a very specific track that you know You're starting from high school then going into university then maybe you're going into medical school law school Etc unless you're doing that the rest of Post-secondary school is a waste of your time for the most part. That's my take on I think I think post-secondary has completely failed you Absolutely high tuition impossible to pay back and for the most part the whole purpose of school is this The whole purpose of school is to teach you to think for yourself is to give you very tangible skills and With these tangible skills to go into the marketplace or the workforce to be productive Through you being productive and adding value you get a good salary so you can pay off your student loans and live comfortably That doesn't happen. People aren't getting hired. Why? Because post-secondary doesn't teach you skills They don't teach you to think for yourself and you get in this big grave of Debt that you can never pay back ever something like over a trillion dollars a student debt is owed None of that's going to get paid back the next bubble to burst is a student debt bubble hundred percent And so the question going back to student loan versus business startup debt Listen, listen listen to this if your plan is to start a business Don't go to school. Don't go to any post-secondary I would recommend first Depending on your age is to first join a startup Join as a hustler join as an intern join as somebody that works for free Who gives a fuck the skills that you learn in a fast-paced startup within six months? Exponentially is ten times better than any School can teach you exponentially then once you've learned your crash course in a startup Then you can figure out what you want to do now business startup that is great Majority of businesses need to go into debt for the business be successful and to scale Now there's a fundamental difference between startup loan and business loan you can claim bankruptcy on business loan You can't claim bankruptcy on your student loan whatsoever And so depending on what kind of business you want to start I'm a firm believer in the lean canvas model You don't need to raise a lot of money. You can pre-sell your product You can do a lot of pre due diligence and do more work before you actually start And so if I was a young entrepreneur young hustler I would definitely work six months to a year in a startup learn my craft build my network Understand what's going on and once you absorb that information internalize and understand the industry that you're working in Then I would make your move for the startup and there's so many different ways you can get you can go to angel investors You can do self-funding Maybe your business doesn't take that much capital and you can get products on consignment But my take on student loan debt versus business startup debt I would never go into student loan debt ever For for something that's not specific like doctor lawyer, but even then man Like I know doctors were four hundred thousand dollars in debt. They're never gonna fucking pay that back $400,000 in debt. They're not paying that back at all. It's ridiculous. It's a joke, you know eight years of your life You know we blink and you're 40 I'm 33 34 I'm gonna blink I'm gonna be 44 I'm gonna blink and be 55 who the fuck wants to spend quarter your life in school. It's crazy man. Absolutely crazy So I hope this answer your question young crypto if you have any more questions leave a comment below this video And I talked to guys soon peace