Office Hours: Should I Replace My Full-Time Job with My Side Hustle? How to Reestablish American Trust in Higher Education, and Advice on Balancing Family and Early-Career Aspirations | The Prof G Pod with Scott Galloway

Intro

In this episode of “The Prof G Pod with Scott Galloway,” Scott Galloway addresses listener questions about replacing a full-time job with a side hustle, reestablishing trust in higher education, and balancing family and early-career aspirations. Galloway shares insights and advice on these topics, providing valuable perspectives for his audience.

Main Takeaways

Considering a Side Hustle

• Substack is a platform for writers to monetize their content.
• A listener asks for advice on whether to replace their full-time job with their Substack income.
• Galloway advises the listener to carefully consider the decision to give up steady income for their passion.
• Set aside a 15-30 day period to test the incremental lift of investing more time in the Substack business.
• Be cautious of the diminishing return on investment and track the ROI closely.
• The return on investment may not be worth giving up a steady paycheck.

Trust in Higher Education

• American sentiments towards higher education have eroded, with only a third having confidence in it.
• 45% of Gen Z believe a high school diploma is enough for financial security, but this may not be accurate.
• Half of American parents prefer their children not enroll in a four-year college, even if there are no financial obstacles.
• 16% of parents are interested in vocational training, while 22% prefer alternative paths like starting a business or doing community service.
• Total undergraduate enrollment in the US decreased by 15% from 18 million to 15 million students between Fall 2010 and Fall 2021.
• Higher education is more popular than ever outside of the US and Canada, with 67% of adults between 25 and 34 being graduates of a two or four-year institution.

Balancing Family and Early-Career Aspirations

• Advice for young people to balance cherishing time with family and pursuing careers is to develop currency in a domain they’re good at and that people will pay for.
• Grandparents have a special relationship with their grandchildren, and it’s important to prioritize spending time with them.
• Quick messages or videos can help maintain connections with family members, even when busy with work or other goals.
• Using technology to maintain connections with family members is important, even if you’re busy with work or other goals.
• Grandparents want their grandchildren to be happy and successful.
• It’s important to build a base for yourself and your family as a young person.

Summary

Considering a Side Hustle

Scott Galloway discusses the listener’s question about replacing a full-time job with their Substack income. He advises the listener to carefully consider the decision and suggests setting aside a 15-30 day period to test the incremental lift of investing more time in their Substack business. Galloway cautions against giving up a steady paycheck without careful consideration and tracking the return on investment closely.

Trust in Higher Education

Galloway highlights the erosion of American sentiments towards higher education, with only a third having confidence in it. He points out the misconception among 45% of Gen Z that a high school diploma is enough for financial security. Additionally, Galloway shares that half of American parents prefer alternative paths for their children, such as vocational training or starting a business. He emphasizes the importance of reestablishing trust in higher education and exploring alternative educational paths.

Balancing Family and Early-Career Aspirations

Galloway provides advice for young people on balancing family and early-career aspirations. He suggests developing currency in a domain they’re good at and that people will pay for. Galloway acknowledges the special relationship between grandparents and grandchildren and encourages prioritizing time with family. He also emphasizes the use of technology to maintain connections with family members, even when busy with work or other goals. Building a base for oneself and one’s family as a young person is essential.

Conclusion

In this episode, Scott Galloway addresses important topics related to side hustles, trust in higher education, and balancing family and early-career aspirations. He offers valuable insights and advice, encouraging listeners to carefully consider their decisions, explore alternative educational paths, and prioritize family connections. Galloway’s perspectives provide a thought-provoking and informative listening experience.