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"Often it's the dropouts that start companies and the PhDs that join them."

I don't agree with your statement. I think we hear more stories of dropouts starting companies because they are rare and make interesting stories.

For instance: 1) http://en.wikipedia.org/wiki/John_Warnock 2) http://en.wikipedia.org/wiki/Irwin_M._Jacobs 3) http://en.wikipedia.org/wiki/Henry_Samueli

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Since there are a lot more degree holders than dropouts, it's probably mathematically true that there are more PhDs starting companies. I wonder what percentage of dropouts start companies vs. percentage of PhDs.

That is basically what I was driving at in my original post. If you are a PhD candidate 3 years into grad school are you more likely to start a company by dropping out or by staying in school?

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