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I'm surprised to see most answers are very negative. I am not sure that paying for an MBA is worth the money, but if you take out the money aspect, I'd say there is no reason why having a MBA should be anything but positive...

I think:

1. there is a tough selection process to get in, so chances that if you get an MBA from Harvard, you're a pretty smart person

2. MBA classes should give you valuable lessons, that you won't get from Startup School or YC.

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But they´re the wrong lessons if you want to do a startup... an MBA is very focused on an existing firm.

That´s why Paul Graham et al advise against it. There´s some very useful knowledge, especially financial and accounting and knowing organizational dynamics if you want to go B2B (not to mention connections).

I personally sometimes regret spending the money and effort on my master´s (a Tech MBA). It definitely didn´t give me the career advancement I was hoping for.

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