If you only knew Java
Last night I was speaking with a man whose son just graduated from Stanford Law School. 30% of the graduates from last June do not have jobs yet. 30%. I mentioned this to Fred last night and he said "if they knew Java, they'd have a job".
So, 30% of recent graduates from Stanford Law School have $250K in debt not including their undergraduate debt if they have that too and are not making the salary they need to pay it off. What does this all mean? Certainly Stanford Law is one of the finest institutions in this country to go to if you want to be a lawyer. Does is mean that unless you plan on being the top of your class, don't bother. I am just guessing that class standing is important here but perhaps I am wrong. Does the 30% without jobs happen to fall in the bottom category? Maybe or maybe not. But, were they all cut out to be lawyers or were they just interested in making money?
Unemployment is hitting some pretty high numbers in our country right now. Obama is working on a strategy to create jobs. What type of jobs? The younger people seem to be interested in finding jobs or careers that truly appeal to their sensibility which in the long run is a very good thing. They are also looking at the companies that are hiring and the industries that are growing. Many of them are in the tech industry.
I believe we are going to see a fundamental shift in employment and education based on where our country is going economically. We are not going to be building new cars. Like the music industry, the book industry and the media industry has seen, you have to change with the times. Holding on to business ideals of the past no longer work in this new landscape. Money that was made in the past, deals that were done in the past and the way people consume their products in the past is over. Everything is changing and perhaps everything that you learned is irrelevant. This week McGraw-Hill sold Business Week for a mere $2m. A magazine that at one point was certainly worth a helluva lot more than that. Not even sure why Bloomberg, who bought the publication, bothered buying it. Like new musicians being found on MySpace and Gourmet being closed, well, that defines the times.
People are going to start assessing does it make sense to go to Stanford Law School and put myself in $250K of debt. Should I go to Harvard and put myself in $200K debt or should I go to a state school and spend a total of $60K over four years instead. Who and what businesses are going to be supported by the Government to employ the millions of out of work autoworkers? How can we retrain these people into new fields, how can we think forward to creates businesses that will be around for years to come without creating another 50 year old work force that will have to live on unemployment 20 years from now? Who is smart enough in the Government to really see the future and how we need to start turning around the ship?
Learning how to write Java is just the tip of the iceberg but certainly it would be a step in the right direction.