This debate comes up often here, but one point that always seems to get left out is that a PhD affords you time for your ideas and skills to mature.
I currently have the unique opportunity to work for a startup while also working on my PhD. I can say without a doubt that a PhD does provide its benefits in some scenarios--that is, you can tailor your PhD research to benefit your startup or vice versa.
For example, I am currently a PhD student studying how to implement Machine Learning algorithms to materials characterization. I often use the same algorithms in R&D work for our startup doing music recommendations and user analytics. Working for a rapidly growing startup helps me see the real world implications of my research, and helps me further understand the benefits or disadvantages of using them.
Another great side benefit of working for a startup is that I have learned how to be more efficient. By learning VIM and unix commands I can do data analysis 1000x quicker on my experimental work than other scientists in my department, just because they are busy fooling around with MS Excel/Origin/LabView.
I concur, mixing academia and business life can be a very potent combination. I did do an industrial Ph.D., where I ,according to the plan, did spend half my time at the university and half the time at the company.
It doubled or tripled my network (if not more) and gave me a profound insight into both the limitations/benefits of university thinking and the business life/thinking.
I currently have the unique opportunity to work for a startup while also working on my PhD. I can say without a doubt that a PhD does provide its benefits in some scenarios--that is, you can tailor your PhD research to benefit your startup or vice versa.
For example, I am currently a PhD student studying how to implement Machine Learning algorithms to materials characterization. I often use the same algorithms in R&D work for our startup doing music recommendations and user analytics. Working for a rapidly growing startup helps me see the real world implications of my research, and helps me further understand the benefits or disadvantages of using them.
Another great side benefit of working for a startup is that I have learned how to be more efficient. By learning VIM and unix commands I can do data analysis 1000x quicker on my experimental work than other scientists in my department, just because they are busy fooling around with MS Excel/Origin/LabView.