View Single Post
  #1  
Old 11-11-2007, 03:00 PM
Somnius Somnius is offline
Senior Member
 
Join Date: Oct 2007
Location: North Pole
Posts: 116
Default Entrepreneurship vs Education

I hesitated a little before posting this, but the desire didn't escape me over the week so here goes, would very much appreciate your wisdom in this situation...there are quite a few of these threads I know, each with their own subtleties however...This thread is quite long but I really hope you read through. Also, please don't take my personal metionings as an attempt at self-indulgence, even if I cared for it this would definately not be the place for it considering all my accomplishments are pretty much nothing compared to what a lot of 2+2 members have done. I just mention some things to illustrate the situation a little better.

My dream was forever to go to law school, it was the "thing to do". Graduated 2 years ago from an undergrad in psych, focusing mainly on neuropsych. Took a year away from school to work on applications, lsat, save up some money. I started my first website, got into online gambling etc. I ended up getting full scholarhip offers to a couple law schools in my desired states, I am from Toronto but wanted to go down south.

Anyway, things were going my way and it just didn't make sense to take the plunge into law school, so I took yet another year off, and now, want to take more.

I am making 6k/month now from websites and poker, and things are only beginning, in a couple months it should be 8-10, I also have tons of ideas for websites etc that I know I can make work, just a matter of time before I raise the capitol.

I mention all this because it's important for the comparison in question. Law school is almost the epidemy of "success/status/power/credibility" to the general public. The quotes by no means are meant to undermine its importance and value, but, we all know how many lawyers there would be if the income ceiling weren't as high.

My interest in the law was in the profession more then the discipline. I am sure I would find it challenging and intriguing, as I'm sure most lawyers here do. But, is it really worth, spending 3 years, and facing opporunity cost, for a piece of paper and perhaps worthwhile knowledge and outlook that most likely will not be used in the profession itself. I now know that I simply do not want a grinder career in a practice. I will forever want to do things my way and attain success on my own. Perhaps it's a little unrealistic I don't know.

I'm 24 now and will be spending the next couple years travelling and making money. My family insists I have a "career" by 30...perhaps they're right, maybe it's just not that simple.

There are plenty of successful people on this forum, in so many disciplines and ventures. Surely there is lots of wisdom you can pass down as to how to view this situation. I am simply having trouble wrapping my head around the contrats between what seems like merely a matter of tradition and that of free-thinking more modern ventures.

In all honesty, math and technology have always been where my heart is. Reading about Bill Chen and Brandon Adams, statistical arbitrage and behavioral finance, basically makes me salivate. Going through Mathematics of Poker is a great pleasure. I have always known this about myself and yet law was always, simply, what to do. I also think I have quite the gift for numbers, I got the highest introductory statistics mark in my university second year, and when the prof recommended I keep going in the discipline, I didn't...not sure if that even really means anything, but something to consider.

Granted, law does come with great worth, the credibility, power and knowledge of the way very important aspects of society and business work are probably great. But, how much benefit, ev, and utiliy is it really providing?

It's funny, I'm sure a lot of you have similar situations, those of you who don't have careers I would assume moreso. Seeing acquaintances etc, who went on to traditional careers, in law, medicine etc etc, and when they find out you are merely "playing poker" or "gambling" or "running some site", the arrogance reigns. Who cares...yet hard to ignore.

I could only imagine later on in life, when thinking about marriage later on in life perhaps, how much more annoying it would get without much traditional status or credibility....or am I wrong thinking this?

Bottom line, I was going to law school to reach a certain income stream early, move away from it once I raised enough capitol, did my own thing by 45 and spent my days back in school, learning about all the disciplines I really enjoy, getting phds in science etc and just upgrading to every accreditation I want.

This "stop-and-go" method of life seems so unnecessary these days if you're open to the possibilities that mainly the internet provides. And now it seems I might be able to have my cake and eat it too. Work on my own time in my own way raising more money then most people do. Setting up passive income streams and spending a life travelling, learning, and raising capitol for projects I am interested in.

Seems so realistic, but sometimes I think it just sounds crazy. How do you explain this type of life, if it does happen, to those around you or those you just meet? Does it even matter? Will having a law degree, especially if getting it for "free", really help make all this possible or simply be a waste of time?

I ask myself these questions quite a bit and will probably continue to do so over the next couple years as I explore this type of life.

I'm sure all of you have your own answers to these questions, from differing levels of success and varying disciplines.

It would be great to get your thoughts and wisdom as applied to this situation.

Thank you for reading if you got through it all. Your words will definately filter through me to others when the day comes.
Reply With Quote