Harvard

Elite college is the stamp and the network, not the classes

Shaan and Sam argue a top-20 degree is worth crippling debt not for the education but for two things: the credential ('stamp') that makes recruiters and investors perk up, and the peer network you bump into on campus.

“So you get the stamp that says I went to Harvard. Yes. So now every time a guy like Sam or me looks at you, we say, oh, Harvard, okay. Yeah, you perk up a little bit. Um, and then the second thing is you get the network. Right? So you're gonna bump into, you know, the next Winklevoss and Zuckerberg and whoever else, uh, that's on, on your campus at that moment, right? Those are the two reasons, the stamp and the network?”

People don't want the content, they want the Harvard label

Shaan argues HustleCon talks get only ~2-3K YouTube views despite people paying ~$1,000 to attend, because attendees come for the network and serendipity, not the content. Like Harvard's free online courses, people want the experience and label, not the information.

“Turns out people don't want the Harvard education, they want the Harvard label. In the same way, people don't want the content from HustleCon. They want the experience and the network and the kind of serendipity that can happen by going out there and getting amongst it with a bunch of other people and putting yourself in that position.”

Know what business you're really in (Thiel: Harvard sells credentials, not education)

Shaan uses Thiel's point that universities are in the credentialing/insurance business, not education (a better curriculum won't beat Harvard). He learned this firsthand: his dating app failed because dating apps are really in the business of local customer acquisition within a 20-mile radius, not UX.

“Why? Because what business are they really in? They're in the credentialing business. They're in the insurance business of, hey, this insurance policy for your kid. If you get a degree, you're going to have a job.”

Steal thisBefore competing, identify the real business you're in (acquisition, credentialing, real estate) and win there.