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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Matt Smith: Rethinking College with “The Preparation”

The James Altucher Show