Tariffs, Taylor, and your own reason why

Change is constant and elections have consequences. So far, we are back to checking headlines between meetings to adjust for what comes next. I’ve been counseling innovators and growth companies for decades, and my own take is that tariffs as performative politics are bad for strategic planning, M&A, capital markets and the overall economy.

Tariffs are effective taxes on imported goods paid for by the companies importing the products and the American consumers buying them. The goal is to protect certain industries and safeguard vulnerable U.S. jobs from global competition and unrestrained market forces. In virtually all cases, that job protection is temporary, buying time for business and political leaders to figure out how best to create a future-ready workforce.

So what are those jobs and how do people get and keep them in a rapidly changing world? We don’t know yet, but we should understand that the traditional answer is changing. The number of students heading straight to college has declined precipitously over the last decade, and recent surveys of Gen Z reveal that a substantial majority of them want to be “social media influencers” instead of engineers, teachers, doctors or lawyers. Are we destined to become a nation of Kardashians? I sure hope not — we’d need more tariffs and a strategic silicone reserve. How then, do principled leaders, thoughtful policymakers and anxious parents meet this moment? By diving into a few new books of course!

"Who Needs College Anymore," the provocatively engaging new book by education and workforce expert Kathleen deLaski, is a great place to start. America’s economic future depends on a skilled and competent workforce, and an ever-increasing number of people now are finding training, opportunities, and careers outside of the traditional and expensive college-to-career pathway. Plenty of new and emerging jobs do not require a degree. deLaski posits the concept of a "skills wallet" to measure what students can gain from apprenticeships, internships, and earned certificates as they enter the hiring marketplace. Colleges aren’t going away altogether, but the decline of the four-year degree as a market signal means their focus certainly must evolve. 

In my work, I’ve always admired gifted entrepreneurs who aren’t degreed but nevertheless possess preternatural business abilities. That’s why I enjoyed "There’s Nothing Like This: The Strategic Genius of Taylor Swift," the incredibly absorbing new book by Harvard Business Review Editor Kevin Evers. Swift never attended college, but her talent, tenacity and self-awareness propelled her into a cultural juggernaut. Evers chronicles Swifts’ emergence as a competitive and talented singer song-writer who learned through observation and experience how to protect, promote, and prosper from her created work. His observations on the economic drama around the sale of Swift’s master recordings could form the basis of a certificate workshop in music production and royalties just on their own. Polished originality can be quite profitable — especially when exported.

Another billionaire, Bill Gates, also leaned into authenticity and found success without a college degree. In "Source Code: My Beginnings," Gates tells the story of a quirky, smart kid whose parents indulged and supported his many interests, allowing him to test, try and fail starting in middle school. As a result, he gained the experience and eventually, the confidence to drop out of college at the age of 20 so he could start the software company that became the global giant Microsoft. Gates started his exploration early, with the support of family, friends and teachers.

Forget tariffs, let’s fund more programs that enable these experiential journeys whenever we can. Check out ASA.org for more of what I mean. The earlier we ask kids what they love instead of what they want to be, the more likely they can grow into the skills that allow them to find meaning and purpose in jobs the nation needs.

Tariffs and college-as-usual won’t get this done. Jobs for the future will require much more.

Read in the Boston Business Journal

Larry Gennari is a business lawyer and chief curator of Authors & Innovators, an annual business book and ideas festival. Watch recent interviews with authors here. Gennari also teaches Project Entrepreneur, a business fundamentals bootcamp for returning citizens, at BC Law School.