Ellsberg - The education of millionaires: its not what you think and its not too late

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Table of Contents

This book is a masterpiece. Gripping and whip-smart, The Education of Millionaires will forever revolutionize your thoughts on the connection between education, career success, and prosperity. Ellsberg is careful to avoid motivational fluff and instead provides mind-blowingly sharp (and humorous) brass-tacks advice on how to profit handsomely by becoming a lifelong learner.

Jenny Blake, author of Life After College

If entrepreneurs were running schools, instead of bureaucrats, schools would be teaching a lot more of the skills and mind-sets found in this book. Since theyre not, this book is a necessary antidote to a traditional college education.

Scott Banister, founder of IronPort Systems, Banister Capital

This is the must read of the next era of education. This one book could be all the education you ever need to massively outperform even the Ivy League. The secrets contained are brilliant and simple to adopt.

Cameron Herold, author of Double Double, former COO of 1-800-GOT-JUNK?

Just like the entrepreneurs he highlights in his book, Ellsberg challenges the conventional wisdom of what it takes to make it in this world. If you have an idea and the drive, nothing can stop you. And Ellsberg proves it.

Simon Sinek, author of Start with Why

You dont need a degree to live life on your own terms: you need economically valuable skills. Ellsbergs book is the blueprint for entrepreneurial education.

Josh Kaufman, author of The Personal MBA: Master the Art of Business

Provocative and timely, Ellsberg lays bare what he sees as a giant hole in much of traditional educationa focus on academic knowledge and a de-emphasis on the knowledge and skills necessary to actually succeed in life. Drawing from a wealth of interviews with successful entrepreneurs, he homes in on seven key success skills that help put you back in the drivers seat.

Jonathan Fields, author of Uncertainty: Turning Fear and Doubt into Fuel for Brilliance

Ignore the stats, break the rules, devote yourself to something meaningful. You wont get that in an MBA program. But youll get it from Ellsberg and his self-educated millionairesand plenty of proof that true and sustained success can only be defined on your own terms.

Danielle LaPorte, author of The Fire Starter Sessions, creator of WhiteHotTruth.com

For my greatest teacher of all,

Jena.

Your journey of self-education inspired this book.

[A] whale-ship was my Yale College and my Harvard.

Ishmael inMoby-Dick (Read in colleges across the land;
written by a high school dropout)

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Send an e-mail to privatelist@ellsberg.com, with private list in the subject heading, and Ill put you on my e-mail list, regularly sending you all the goodies described above. Ill also e-mail you, as a thank-you for purchasing this book, these two free PDF reports related to my book:

The Dropout Revolution: Why Todays Savviest Kids Are Forsaking Debt and Educating ThemselvesIn this free PDF report you will learn why many kids today are choosing to avoid student loans and to educate themselves. Featuring interviews with some of todays hottest young entrepreneurs and rising stars, this report is sure to inspire you, challenge you, and make you think. This book also has my detailed responses to nearly every objection I could imagine a reader having about the message of my book, such as But college graduates earn more! and But you need a college degree to get a good job!

Self-Education in Health and RelationshipsIn this free PDF report, learn how to educate yourself to succeed in relationships and health. We all know that happiness depends on more than just money and career. Learn how to educate yourself for success in all areas of your life that matter to you, including your personal health and relationships.

I send only quality content Ive written myself to my e-mail list, zero spam, and I never ever give your information to anyone else. You can remove yourself at any time with one click.

Once again, to get immediate access to everything described above for free, just send an e-mail to privatelist@ellsberg.com with private list in the subject header.

INTRODUCTION

THE CRAIGSLIST TEST OF THE VALUE OF A BA

(or, Why Practical Intelligence Almost Always Beats Academic Intelligence)

Youve been fed a lie. The lie is that if you study hard in school, get good grades, get into a good college, and get a degree, then your success in life is guaranteed.

This might have been true fifty years ago. But it is no longer true today.

If you want to succeed now, then you must also educate yourself in the real-world skills, capabilities, and mind-sets that will get you ahead outside of the classroom. This is true whether youve been to college or not.

This book shows you the way.

A thirty-seven-year-old Harvard MBA and a twentysomething college dropout, the latter a few credits shy of a film and theater degree from USC, are sitting across from each other in a job interview. The MBA is wearing a crisply pressed three-piece suit with a yellow tie. The twentysomething is wearing jeans and a pullover sweatshirt, with no shirt underneath. The twentysomething is unshaven, and the state of his hair suggests that not much grooming had occurred between his departure from bed that morning and this interview.

The interview is going very, very poorly. The interviewer is entirely unimpressed with the academic background the interviewee brings to the table, and feels the interviewee doesnt have enough experience to provide tangible value in the chaotic environment of a real-world start-up.

Bryan Franklin, the dropout theater major, decided to hire someone else that day for the $10-an-hour administrative and data entry job he had posted on Craigslist a few days before.

Bryan had started a sound design business in college and got too caught up in building and running the business to finish his degree. Eventually, over three hundred feature films were edited or mixed at his studio, including Gladiator, The Last Samurai, and Artificial Intelligence. Bootstrapping the business from the ground up and never once taking on investor money, he eventually sold it in 2000, after Dody Dorn was nominated for an Oscar for editing the film Memento, which she cut at the studio. The sale of the company bought me a house on Lombard Street in San Francisco, as Bryan put it with a smile.

Now in early 2002, he was on his third self-made, self-funded, profitable business, and he needed an assistant, so he posted an ad on Craigslist, Bryan told me. Within twenty-four hours, I had two hundred responses. Most of them had BAs, but there were also many masters, several with JDs who had passed the bar, a few PhDs, and around six MBAs. The Harvard MBA got me curious. I put him on a shortlist. He was one of the ten or so I interviewed.

He came to my house in a three-piece suit. I was talking to him about the website he was going to be doing data entry for at ten dollars an hour, and he was stuck in a very 1999 mentality about the Web. I dont

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