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It makes sense to relieve pressure on the labor markets while enabling the young with fresh ideas to try their hand at creating their own enterprises. |
Perhaps the policy took inspiration from peoples who had made it in similar manner, like Steve (Gates, Jobs) and Mark (Zuckerberg, 吳)....who were known not to have completed their college studies in order to quickly develop and corner ideas whose time has come. ().
Ideas like Alibaba (e-market), AirBnB (e-stay), Amazon (e-retail), Ebay (e-trade), Bitcoin (e-finance), Facebook (e-networking), even WhatsApp (e-p2p comms) are all global examples of being the first to stake their flags on the ground inside the e-space of e-commerce, and for seeing exponential viral growth of their users as a result whose numbers bubbled their valuations until eyes popped out.
So why not? If Ma can ma-ke it, so too one hundred million youths after him and in shorter time too because China already leads the world in e-commerce application. And also because youths are the ones with the most creative and inventive ideas and the most entrepreneurial energies. Except for some mathematicians who can still be mentally agile and productive until their late eighties, the rest are couch potatoes.
The fifth principle of good society is after all to grow a thousand ideas, bloom a million flowers - energetically catalyze and commercialize ideas that can benefit mankind.
That said (and said well), there are some caveats:
- ideas are just things inside the head giddy with expectations which have to meet and face reality unless properly planned in advance;
- planning requires some knowledge about the target users, the means of designing and constructing the new product or service, basic accounts and finance, think-through from conception to valuation and listing; sourcing and organizing; presentation and negotiation skills; assessment of operational and projection risks versus realistic estimation of rewards;
- these skills may or may not be in the courses abbreviated but can be centrally provided to the participating students under some mentor scheme similar to the vocational training or on-the-job internship program that's part of most college courses given to students before they graduate;
- there is also the personal requirements: self-discipline and sacrifice; hardwork and diligence; constant closing of task loops; taking responsibility to do well all the time and save as much as possible with a constant critical eye on cashflow; not spending recklessly any capital that comes in whether angel or bridging or pre-IPO equity, and two specials: (i) how to discern whether the idea can actually work and when; and (ii) how not to be cheated by investors who can demand more than what they put in (eg. controlling stake followed by share dilution followed by buyback).
Given that the Chinese have a business gene somewhere in their genome which means all aspire to be their own business bosses, better to start them young than never, but so long as they know the risks to their careers founded on full qualification-based studies, which however still can be recatched if only to close that loop as well.