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Home » How to Educate Your Children: Jeff Sandefer (Transcript)

How to Educate Your Children: Jeff Sandefer (Transcript)

Transcript of JB Peterson Podcast titled “How to Educate Your Children”. In this podcast Dr Jordan B Peterson and Jeff Sandefer discuss the k-12 education machine, its origins and failures, and how the Acton Academies are making leaps to correct the system.

TRANSCRIPT:

JORDAN B PETERSON: Hello, everyone. I’m pleased today to be speaking with Jeff Sandefer, who’s someone I’ve known for a number of years and worked together on a variety of projects. We’re going to talk today about childhood education and about his background, depending on which platform you’re viewing.

Jeff is an entrepreneur and a Socratic teacher, which is a teacher, by the way, who tends to ask questions rather than provide answers. He began his first business at the age of 16, then trained as an engineer and then went on to graduate from the Harvard Business School. He has started and run many successful businesses, the most recent of which is Sandefer Capital Partners, an oil and gas investment firm with several billion dollars in assets.

He’s also started multiple academic programs and schools. Going to concentrate on that today, such as the Acton School of Business, whose students were named the most competitive MBAs in the nation by the Princeton Review. He’s extended this work over the last 15 years into the K-12 realm, kindergarten through grade 12, with the Acton Academy, a cutting edge program that blends the one room schoolhouse, the Socratic method and 21st century technology to aid each student in changing the world, themselves and the world.

So Jeff, we get a chance to sit down and talk today and to share that with a very large number of people. Jeff and I were talking before this podcast about what we wanted to talk about. And last night we thought about construing this in terms of educational reform, but really the proper way to set this conversation up is to talk about education, not so much reform, but education per se.

And so let’s start a little bit by talking about your background though. And we might as well go back to, I guess, your early experiences in early adulthood and let’s lay that out. And then we can place in the educational discussion as appropriate.

BUSINESS, INCENTIVE, AND STARTING EARLY

JEFF SANDEFER: Sure. And I think, as you say today, that I’m here more as a father and a husband than an educator or even a Socratic teacher. But I really started life as an entrepreneur. Age 16, I had my first real business. We made $100,000 in profits, which as old as I am back then, that was real money.

By age 26, I’d taken a million dollar investment and within four years, turned it into $500 million in profits.

JORDAN B PETERSON: What was your first business?

JEFF SANDEFER: Oil and gas exploration.

JORDAN B PETERSON: At 16?

JEFF SANDEFER: Oh, at 16, we were actually painting tanks out in the hot West Texas sun. And my father had had me working in the oil field as a laborer, and I didn’t want to do that anymore. So I found I could hire the high school football coaches at our local high school and instead of paying workers by the hour, I paid them by the job. They hired their football players underneath them and their productivity was nine times higher than the average crew. So we went out and competed, charged two thirds where our competitors charged and had 80% profit margins.

JORDAN B PETERSON: So why were they more efficient?

JEFF SANDEFER: Because they were getting paid by the tank, by what they did.

JORDAN B PETERSON: Right, you had the incentives.

JEFF SANDEFER: And so they would show up at the break of dawn and work till dusk. The people that were being paid in those days, $2.15 an hour, had no incentive to work hard. So it was just purely incentive, work ethic. You can imagine football players and coaches are conscientious. And so, you know, it was a home run.

JORDAN B PETERSON: Why did they take you seriously when you were so young?

JEFF SANDEFER: I think because if you think about coaches during the summer, they had nothing else to do.

JORDAN B PETERSON: They got a chance to work with their team too.

JEFF SANDEFER: Right, and what do they have to lose, right? They’re not doing anything anyway. So it was kind of one of those things where you could put together pieces of a deal that make the pie bigger for everyone.

JORDAN B PETERSON: Right, right.

JEFF SANDEFER: And it just worked.

SOCRATIC TEACHING, THE CASE METHOD

JORDAN B PETERSON: It’s exciting to give people an opportunity to experience a direct return on their immediate investment. I mean, one of the things that’s nice about hands-on labor, carpentry and contracting and so forth, is you immediately see what you produce. And the harder you work, the more there is of it. And so obviously you built those incentives in.

And so then you took that money and you further invested it, you said, into something that generated a million dollars. And how did that happen?

JEFF SANDEFER: Well, I actually then went off and got an engineering degree. I went to Harvard Business School. And then when I got out of Harvard Business School, I raised a million dollars. And we went out and we drilled oil and gas wells in the Gulf of Mexico. And through hard work, a lot of luck, good timing, we turned that million dollars into $500 million in profits in four years for our investors and our employees and ourselves.

And so I’m now age 29. I’ve got more money than I’ll ever spend. I don’t spend much money. I’m a cheap guy. What do I do next? And so I decided to take a year off to become a Socratic teacher and lead case discussions at the University of Texas MBA program. And that changed my life. And so for 35 years now, I’ve been, going on 40 years, I’ve been a Socratic teacher.

JORDAN B PETERSON: Okay, so let’s define that for everyone.