Matt Smith: Rethinking College with “The Preparation”

The James Altucher Show

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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