I suppose this thread belongs in the Rant forum, though it won't appear like one. It's a rant at its heart, though, and I'd probably be rightfully called on it if I tried in Hellfire so... here goes. :p
Most of you are familiar with E3, but for those that are not, it was
the press show for video games each year for well over a decade. Big announcements, unveilings, etc were saved for E3. It grew and grew over the years as gaming became a bigger and bigger industry. As a press show, being essentially a marketing tool, it invariably meant competition within the show -- if your stuff was what everyone was talking about during and after the show, that's a huge win for you and a loss for your competitors. Upping the ante became the name of the game. Booth babes got more and more extreme til the organization behind E3 stamped down on them -- to little effect. If memory serves, the area Nintendo had the year the Wii was first available for demoing was something like a football field (and the lines took many, many hours for people to get their chance.) Companies kept going bigger, hoping to be the big fish in the pond, but since everyone else also was they wouldn't get ahead. Still, it wasn't a waste for the companies, because not going bigger meant falling by the wayside while their competitors got the bigger share of the press.
Eventually, the big companies involved were pouring millions and millions of dollars into their E3 show each year. It became a big drain, as they essentially had to put out that money to put on a big show just to keep afloat. There were other reasons involved, but the expense was commonly cited, especially by the bigger companies, as a reason for discontent with the show. In 2007 the house collapsed due to pressure by those companies who didn't want to be a part of that anymore, and the E3 of today is much smaller. No more multimillion dollar shows.
Wikipedia section (see links at the bottom of the Wikipedia article for further reading!)
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So what I describe as the E3 effect: expending time/money/effort that all of your peers are also expending, resulting in no net gain for anyone. The society of game developers unintentionally imposed this system upon themselves until they realized it was painful and sought a way out.
My question for discussion, then: does getting a career going (and maybe success in general) have an E3 effect to it? Does our society are large have similar phenomena at work?
Consider what a bachelor's degree is worth now compared to one in 1970. I have heard people say that bachelor's degrees are the new high school diplomas -- a sort of baseline for employment. Even an inexpensive school will run you into 5 digits for that baseline, and does it get you ahead of the competition?
Nowadays networking is the big thing to getting jobs. It's assumed you'll get your degree -- everyone will get their degree, so what puts you ahead? Networking will give a job-seeker that extra edge... that their competition will also get.
I suppose it's part of human nature, as the ambitious will always seek an edge when it comes to competition in anything, with the same lack of any actual gain over their competition despite the resources spent that game companies saw at E3. E3 was, relatively speaking, small enough that they could essentially conspire together to rid themselves of what became nothing more than an operating cost to maintain pace. There's no way humanity could all agree on something like this.
I guess what makes this a rant-at-heart is that I know nothing can be done. You just have to be a part of the system if you want to succeed. From what I'm seeing, however, it's somewhat depressing if you take a step back and look at it objectively. Unless you're a star entertainer or developing a trade skill, there is so much to do (and so much debt involved) just to get to the bare minimum best described as "what everyone else does". It seems to be, gradually, getting worse as time goes on.
You can even consider things from a monetary perspective, though I'll leave it up to each reader to decide if it's relevant. I can only speak for my master's degree, as I don't have in depth knowledge of others, but there are plenty of jobs out there (filled jobs, sadly for me :p) that pay barely a living wage, yet in all the job descriptions it requires the master's degree. I've seen part time job listings for 20 hours a week, paying peanuts, requiring that master's degree. Perhaps it's something that you only see in this terrible job market... again, I don't have in depth experience outside of my own search. I'm personally in a position where such a part time position would actually be feasible, but when I see job listings like that I have to wonder what they really expect. I don't believe most people (with kids or massive house payments or the like) could even work a part time job for so little. I understand things like budget concerns, so I'm not saying they are being cheap necessarily... but if they have so little to spare for this position, it seems more reasonable to me not to demand a master's degree. So either the master's degree is becoming something that will barely get you a living wage in some cases, or perhaps it's employers on a budget knowing they are in a position to ask for a lot and get it due to the job market.
...and just for the sake of disclosure, I'm not one to personally whine about money. I'm single, without kids, and very cheap besides.
I've been living without a job for a bit now and doing so decently comfortably (the whole self-worth and other related issues aside) even though I haven't been spending money outside my WoW subscription fee. I can say a lot of bad things about MMOs but they sure provide a ridiculous amount of entertainment for the money. Makes those college nights out to cheap bars look downright like rich living. :p Even when I have been working in the past, I wasn't much of a spender then, so I don't expect to be in the future. I can also say that since my only debt is student loans, some barely-living wage would be fine for me personally. If anyone could live on a low wage, someone like myself would be in the best position to happily do so. Long story short, I'm far from the camp that treats master's degrees as some sort of entitlement card, turning up my nose at mere pedestrian salaries. The previous paragraph can still apply under these circumstances, however.
So... that's sort of how I'm seeing things. Maybe I'm being too cynical. Is their truth here or am I seeing things wrong? I'm curious to see what people think about the E3 effect.
edit: to extract the essence of this model out of the messy and complicated real world, I can boil it down to something like the following: A make-believe society has libraries but no universities at all. They are staffed by people interested in the profession. The society then develops the idea of universities, and now the interested people spend the money and time to get an edge over their unlearned brethren by going to the university. Finding this to be a great idea, everyone in the whole society now goes to the university. The society in the abstract prospers: their librarians are now all university trained. Now, however, any would-be librarian has to expend all the resources involved in getting a university education only to put themselves in the exact same situation they would have been in before the advent of universities. The university education fails to give them an edge, and in fact if they do not earn that education, they don't even get a chance to step up to the plate -- all those resources spent just to get a chance they'd have had for nothing in generations past. A librarian position opens, and behind the 30 interested applicants are 30 degrees from universities that aren't helping them individually at all. Feel free to repeat this process with graduate degrees for this society at this step. Maybe even segment them, if everyone gets master's degrees first, then doctorates once master's become standard.
Replace libraries with your field of choice. It works better for some (accounting) than others (chemistry), but the concept is the same. It almost makes one see university degrees as a boon to society at the expense of the individual. This seems to be going in the wrong direction for life...