I know dozens of entrepreneurship professors at campuses around the country and they’re almost universally great guys (they are typically male). I love what motivates them. They’re truly dedicated to developing young people.
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But I’ve also spoken to hundreds of students groping for next steps. And I have to say that, at this point, it’s clear that entrepreneurship education, as it’s currently practiced, does not work.
The numbers are stark. Entrepreneurship classes and programs in colleges around the U.S. have quadrupled in the past 25 years. Meanwhile rates of private business ownership for households under 30 have declined over 60% during the same period. So, the more we teach entrepreneurship, the fewer young people actually start businesses. This has profound implications.