[mazeway]

> Top MBA schools are basically a 2-year networking event

So you're basic assumption is that there is zero to low value in actually attending the class and learning from professors? I'm confused that why would someone spend several thousands of dollars just for networking?

Why not do it you're self? Try think of creative ways to hustle. In the book Education of Millionaires [1], there was a then young and inexperienced entrepreneur who needs to connect with other already successful entrepreneurs. He cold called every CEOs of the 30 under 30 and convinced them to join a free ski trip with a group of young successful CEOs. He also found companies to sponsor the trip. Basically, he created a valuable network out of nowhere from this smart hack.

I bet if one spend 6 months full time hustling/connecting with people, one will get more value while spending less per unit time compared to a MBA. Not to mention if it is best use of time to go all out networking for an extended period of time.

In my view, networking is best done intermittently while doing something that produces value, like creating a startup or organizing a non-profit. In this case you have some context to network for. You'll know better about why and how to do networking and get more value.

[1] The Education of Millionaires, Michael Ellsberg (The author's talk about how to do networking is also very good [2])

[2] https://www.youtube.com/watch?v=PDmOgLabl_M

[ThomPete]

It's not about networking but about the network you build. Networks are basically one of THE reasons why some people do better than others. Having a good network is also a huge driver to get a lot of startups off the ground.

It is the number one thing you can never get enough off.

[michaelochurch]

I'm confused that why would someone spend several thousands of dollars just for networking?

For one, for the people who can pass the socioeconomic component of MBA school admissions, the costs are a rounding error. For the middle-class students who get in on merit, the connections are worth it.

Two factors amplify the strength of connections. One is nostalgia. There's a reason why college connections run deeper than grad-school connections, which run deeper than work connections. People tend to want to be around those who were with them back in the "good old days". The second is what I call "soft extortion", but that term might be too cynical since it's always implied. If you went drinking with someone on a regular basis and tried to run game on the same women, you both know things about the other that create a bond of "necessary trust". If you ever tried to pull something out on the other guy (i.e. hard extortion) in order to get a favor, you'd lose his trust and friendship. However, the fact that this capability theoretically exists tends to create bonds, due to peoples' aversion to cognitive dissonance. ("I trusted him enough to get piss-drunk with him back in school, so I should trust him on a $500-million deal.") Soft extortion is an extremely powerful force; it's why fraternities use humiliating initiation rites.