The audio is scratchy as fuk but that's not really the problem. His thesis is wrong. First many industries already sponsor education for in-house promotion. If you are say a steel foundry you prefer a man who has a year or two experience in steel with an education in material sciences or metallurgy so they give scholarships to employees who show promise.
Second the purpose more generally of higher education (and I define that rather loosely here) is to prove that an individual has a basic level of cognitive function and can persist at a task for a period of at least four years. These are, depressingly, a valuable set of character traits.
