Business leaders are debating whether the college degree is dead, debating its usefulness and overall value. Meanwhile, Palantir co-founder Peter Thiel is using a $200,000 grant to lure young entrepreneurs to abandon the “corrupt institutions” of higher education and “create something new.” But former Goldman Sachs CEO Lloyd Blankfein hit back at the new hires with his own two cents.
“I strongly disagree with tech investor Peter Thiel,” Blankfein writes in an excerpt from his forthcoming memoir, street smartsShare to Vanity Fair. “Of course, to be successful in your career, you have to understand the technical details of your field. But you also need to be a complete person—the kind of person that others want to deal with.”
Blankfein suggests that one of the best ways for aspiring professionals to grow personally and succeed professionally is to attend college.
When the longtime executive, an alumnus of Harvard University and Harvard Law School, reflects on his undergraduate days, he recalls the experience more than anything else he enjoyed. Blankfein admits that the Ivy League might not be for everyone, but there’s no denying that it opened doors for his future career and is “the best place to be.”
The former Goldman Sachs leader said the school developed his self-confidence, writing skills, love of history and involvement in current events. If he skips this experience entirely, he may miss out on this growth. Blankfein recognized the value of a liberal arts education.
“Undergrad is your best opportunity to make yourself uncomfortable, which can help you become more curious and interesting,” Blankfein added.
Blankfein’s outspoken praise for the college experience comes as some tech leaders question the effectiveness of higher education.
Just last spring, Palantir launched Elite Fellowships: four-month paid internships for recent high school graduates who are not going to college. During their time at the company, Gen Z learned about American history and Western fundamentals, and worked with Palantir’s full-time employees to solve technical problems and improve products.
The gig was promoted as a way to “get a degree in Palantir” and “free from debt, free from indoctrination.” Co-founder and CEO Alex Karp added that internships were created to overcome “the shortcomings of college admissions.”
“Opaque admissions standards at many American universities have replaced meritocracy and educational excellence,” Palantir’s job posting states. “As a result, qualified students are deprived of an education based on subjective and superficial standards. In the absence of meritocracy, campuses have become breeding grounds for extremism and chaos.”
