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Just to be perfectly clear, Elon Musk has nothing against academia. After all, he was a dual major at the University of Pennsylvania, earning a Bachelor of Arts (BA) in physics and a Bachelor of Science (BS) in economics (the latter from the famous Wharton School of Business).
Nevertheless, in a recent interview, Musk pointed out that an MBA does not automatically qualify the degree holder to be an effective manager or leader. Here's a brief quote (kudos to WebProNews):
The path to leadership should not be through an MBA business school situation. It should be kind of work your way up and do useful things. There's a bit too much of the somebody goes to a high-profile MBA school and then kind of parachutes in as the leader but they don't actually know how things work. They could be good at, say, PowerPoint presentations or something like that, and they can present well, but they don't actually know how things work. They parachute in instead of working their way up. They're kind of like just not aware of what's really needed to make great products.