Imagine a country where 100 people graduate from university each year.
60 of those graduates are sent to work in banks and consulting firms. They work to help massive companies raise money, implement systems, buy and sell each other, and conduct complex business more efficiently.
40 of those graduates are sent to work in other industries like energy, healthcare, education and environmental science. They work on research and development, creating new infrastructure and building innovative ventures.
In this country:
This hidden brain drain isn’t imaginary. It’s happening today. This market failure is what I call the Talent Misallocation Problem. Most talented people are consistently being funnelled into industries where it’s famously difficult to spark innovation and impact. People pursue these industries for many reasons, including the social capital that’s associated with them, parental and peer pressure, as well as the perceived optionality they give you later in your career. The problem is that these meta-industries don’t create value as much as they capitalise on value that others have already created.
The high concentration of talented young people in these areas means that too few ambitious people are entering problem spaces and industries where they’re most needed and have the highest chance of making significant impact. Those who do choose to dedicate themselves to tackling complex problems are usually driven by a deep emotional connection with that problem, either through a lived or shared experience. That’s where career experimentation comes in.
We don’t see work as an experiment. We see work as a choice. Experiments are meant to fail and fuel learning. Our careers are meant to succeed on our first try. We run experiments out of curiosity. We build our careers out of obligation. Sometimes experiments lead us sideways. Our careers force us up, always.
In short, we need more ways to experiment with work, what I call “career sampling”. But currently, the path to experimentation is too inaccessible, too unstructured and too poorly recognised. This year I plan to spend a lot of time thinking about how we can make career experimentation more accessible, structured and recognised. Without it, we stand no chance of solving the enormous market failure that’s threatening our collective future.
