Matt Smith: Rethinking College with “The Preparation”

The James Altucher Show

James Altucher

Society & Culture, Talk Radio, Writer, Philosophy, Comedy, Chess, How To, Entrepreneurship, Jay, James, The James Altucher Show, Altucher, Author, Jay Yow, Education, Jay The Engineer, Business, James Altucher

4.6 • 2.7K Ratings

🗓️ 23 August 2025

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

A Note from James

There’s always been debate about whether college is worth it. But what if there’s a better alternative—one that actually prepares you to become the person you want to be? My good friend Matt Smith just wrote a book with Doug Casey called The Preparation. It’s not theory—he’s been putting his own son through it as a real-world experiment. Instead of college, Maxim has spent the past two years learning skills like EMT training, firefighting, building houses, working cattle, and even launching a business. This is a practical roadmap for turning those years of 18–22 into a hero’s journey. I loved this conversation, and I’m sending the book to all of my kids.

Episode Description

James talks with entrepreneur and writer Matt Smith about his new book The Preparation, co-authored with Doug Casey. The book lays out a four-year alternative to college built around “cycles”—three-month intensive experiences designed to build practical skills, personal codes, and real-world wisdom. From earning an EMT license to fighting wildfires, training in Muay Thai, or running a small business, these cycles are designed to help young people become independent, capable, and resilient. James and Matt discuss why the traditional college path often fails, how to build a personal code of values, and why the future belongs to “expert generalists” who know how to learn across disciplines.

What You’ll Learn

Why “be, do, have” is a more powerful framework for life than chasing possessions or credentials.
How creating a personal code builds self-respect and identity.
Why intergenerational relationships matter more than peer validation.
How cycles of hands-on learning—from EMT work to entrepreneurship—prepare young people better than a classroom ever could.
Why becoming an expert generalist is the best hedge against a future dominated by AI and automation.

Timestamped Chapters

[00:00] A Note from James: College vs. alternatives
[01:00] Introducing Matt Smith and The Preparation
[03:00] Origins of the book and Doug Casey’s vision
[05:00] Writing the book for his son Maxim
[06:00] Why homeschooling replaced high school
[07:00] “Be, Do, Have” explained
[09:00] Stacking cycles vs. stacking skills
[10:00] Why the book focuses on young men (and how women can adapt it)
[11:00] How to build your own cycle
[13:00] Why traditional education fails to prepare people for real skills
[14:00] Establishing a personal code
[16:00] Examples of personal rules for self-respect
[18:00] Practicing courage and choosing virtues
[20:00] Skills Maxim has gained so far—EMT, chess, horses, firefighting
[22:00] Adventures with Doug Casey and small-country nation building
[24:00] Maxim’s cycles: EMT work, ranch apprenticeship, wildfire EMT
[27:00] Structure, resistance, and learning by doing
[28:00] Shelter Institute and learning to build a house
[29:00] Entrepreneurship cycle: precision agriculture with drones
[31:00] Lessons from entrepreneurship
[32:00] Muay Thai training in Thailand
[33:00] Cooking school in Florence
[34:00] Travel with purpose vs. aimless wandering
[36:00] James on biographies and meaningful decisions
[37:00] Preparing for AI and the future of work
[39:00] Why being an “expert generalist” matters
[41:00] Learning how to learn across environments
[42:00] The problem with peer-only education
[44:00] Intergenerational relationships as mentorship
[45:00] What comes after the preparation
[47:00] Why the program can work for adults too
[49:00] Rethinking retirement as another cycle of preparation
[56:00] Matt’s personal growth through writing and learning new skills
[58:00] Designing The Preparation as a beautiful, interactive book
[59:00] Closing thoughts and sending the book to the next generation

Additional Resources

Matt Smith & Doug Casey — The Preparation
Doug Casey’s Take (Podcast): YouTube Channel
Doug Casey’s Official Site: internationalman.com
The Shelter Institute (Learn to Build a House): shelterinstitute.com
Muay Thai Training in Thailand (Example School): Santai Muay Thai Gym
Florence Cooking School Example: Apicius International School of Hospitality
Stripe Press (Books mentioned by Matt): stripe.press
Doug Casey’s Classic Book — Crisis Investing: Amazon

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Transcript

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0:00.0	This isn't your average business podcast, and he's not your average host.
0:06.2	This is the James Altasier Show.
0:15.9	So, of course, there's been the age-old debate.
0:20.1	Should you send your kids to college blah blah
0:22.5	blah i'm not going to get into that here but is there an alternative what is maybe even a better
0:30.9	alternative that turns you into the person that you want to be my good good friend Matt Smith wrote a book about this,
0:39.7	along with Doug Casey, Doug's been on this podcast before.
0:42.8	It's called The Preparation.
0:45.0	And he's putting his son through what he calls the preparation.
0:49.3	And he writes about, or Doug and Matt both,
0:51.7	they write about what the preparation is,
0:54.3	what best will help define a young person into the hero they are meant to be.
1:01.0	So the book's called The Preparation, and Matt and I discuss it on this episode.
1:06.8	I'm sending this book to all of my kids, so good luck.
1:10.8	I hope you enjoy this episode.
1:20.3	I love the concept of this book, Matt.
1:23.1	And I think you know I love it.
1:24.1	It's very much the choose yourself kind of ethos that I've been writing about.
1:27.3	And it's your article in 2010 about college, like the seven reasons, right?
1:34.5	Yeah. Oh, no, this is like, this book that you wrote, the preparation is near and dear to my heart.
1:40.4	This is exactly what young people should do now instead of, let's say, college
1:47.0	or other methods of preparing for life.
	...

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